BRAC Bank posts strong growth in profit

FE Report | Published: October 27, 2017 12:59:36 | Updated: October 29, 2017 21:06:17


BRAC Bank Limited has posted a strong growth of 50 per cent in profit after tax year on year in the nine-month period ending September 30.

"The bank reported a consolidated profit of Tk 1,552 million after tax in Q3 of this year, compared to Tk 910 million in the same period last year," Managing Director and CEO of BRAC Bank Limited Selim RF Hussain said while unveiling the third quarter disclosure of the bank at its head office in the city on Thursday.

The consolidated profit after tax for the nine-month period from January to September 2017 amounted to Tk 3,973 million against Tk 2,656 million recorded in the same period last year.

In comparison to the same period in 2016, the bank's consolidated Q3' 17 earnings per share (EPS) improved from Tk 1.03 to Tk 1.76.

Similarly, consolidated EPS for the nine months ending September 30 has improved from Tk 3.02 last year to Tk 4.42 in the current year.

The consolidated net asset value (NAV) per share of the bank stood at Tk 29.64 at the end of September, compared to the Tk 29.61 recorded in the same period last year.

This is after a 20 per cent stock dividend announced in April 2017.

Local and foreign Investment analysts and capital market experts participated in the programme which was also broadcast live on the internet for overseas investors.

Deputy Managing Director and CFO AK Joaddar and other senior officials of the bank were also present.

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