BRAC Bank’s consolidated Net Profit After-Tax (NPAT) grew by 75% supported by strong balance sheet growth in the first half of 2023.
For January-June 2023, the bank's consolidated financial data, accounting for all subsidiaries, registered an NPAT of BDT 334 crore. This figure stands in comparison to BDT 191 crore during the same span in 2022.
BRAC Bank's individual NPAT for the first half of 2023 was BDT 303 crore, up from BDT 254 crore the previous year. Between January and June 2023, the bank had a 29% rise in its annualized standalone loan portfolio and a 28% increase in customer deposits compared to December 2022.
BRAC Bank came up its financial achievements and operations for the first six months of 2023 at a virtual earnings disclosure event on August 10, 2023. Selim R. F. Hussain, BRAC Bank's Managing Director and CEO, alongside other top officials, shared insights on the bank's performance, its operational milestones, and detailed their future strategic direction. Reflecting on the financial outcomes, Selim R. F. Hussain, stated: “The results for BRAC Bank's first half highlight our ability to serve growing customer base and expand balance sheet over the industry's average. It is a testament to the trust our customers place in us and our sustainability.”
