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The Financial Express

BRAC Bank’s net profit jumps 35pc in 2017

The bank recommends 25pc stock dividend  



BRAC Bank’s net profit jumps 35pc in 2017

BRAC Bank has recorded a growth of nearly 35 per cent in year-on-year net profit (consolidated) last year.

The bank reported a consolidated profit after tax of nearly Tk 5.50 billion for the year that ended on December 31, 2017 which was Tk 4.07 billion in 2016, according to a statement.

The bank’s consolidated earnings per share stood at Tk 6.07 for the year that ended on December 31, 2017 which was Tk 4.55 in the previous year.

The bank’s consolidated net asset value per share stood at Tk 31.10 at the end of 2017, compared to Tk 31.18 in the last year.

The bank’s consolidated net operating cash flow per share stood at Tk 24.99 for the year ended of 2017, which was Tk 13.75 in the previous year.

The financial results were disclosed on Thursday after a meeting of board of directors of the bank.

The board of directors of BRAC Bank has recommended 25 per cent stock dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the annual general meeting scheduled to be held on April 26 in Dhaka.

The record date for entitlement of dividend is April 11.

In 2016, the bank disbursed 10 per cent cash and 20 per cent stock dividend.

There will be no price limit on the trading of the shares of the company on Sunday following its corporate declaration.

Each share of the bank, which was listed on the Dhaka bourse in 2007, closed at Tk 90.90 on Thursday at the Dhaka Stock Exchange.

The bank’s price traded between Tk 70.40 and Tk 114.40 in the last one year.

The bank’s paid-up capital is Tk 8.58 billion and authorised capital is Tk 12 billion while the total number of securities is 858 million.

The sponsor-directors own 44.30 per cent stake in the bank, while the institutional investors 8.59 per cent, foreign investors 40.32 per cent and the general public 6.79 per cent as on February 28, 2108, the DSE data shows.

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