BRAC Bank approves 20pc dividend for 2023

Published : 30 May 2024 09:57 PM

The shareholders of BRAC Bank PLC have approved a 20% dividend – 10% in cash and 10% in stock - for 2023. 

The approval came at the 25th Annual General Meeting (AGM) held on a virtual platform on May 30, 2024. A significant number of shareholders participated in the AGM. 

Presided over by Chairperson Meheriar M. Hasan, the AGM was also attended by Vice Chairperson Faruq Mayeenuddin Ahmed and Directors - Asif Saleh, Fahima Choudhury, Farzana Ahmed, Dr. Zahid Hussain, Shameran Abed, Dr. Mustafa K. Mujeri, Salek Ahmed Abul Masrur, Anita Ghazi Rahman, Chowdhury MAQ Sarwar and Lila Rashid. 

The bank's Managing Director and CEO Selim R. F. Hussain responded to the shareholders' queries and thanked them for their unwavering trust and confidence in the bank. Company Secretary M Mahbubur Rahman, FCS, moderated the AGM.

The shareholders were informed that the bank registered a Net Profit After-Tax (NPAT) of BDT 828 crore in 2023 on a consolidated basis, with a growth of 35% from the BDT 614 crore reported in 2022. 

On a standalone basis, NPAT stood at BDT 730 crore, with an increase of 27% compared to NPAT of BDT 576 crore in 2022.