BRAC Bank’s consolidated Net Profit After-Tax (NPAT) in first six months of 2024 grew by 77% year-on -yearto TK 591 crore supported by strong deposit and revenue
growth. On a standalone basis, bank’s customer depositsgrew by 34% on annualized basis, from TK49,132 crore to TK57,511 crore in the first half of 2024 and 37% increase in revenue from TK 1,510 crore to TK 2,061 crore year-on-year.
On consolidated basis including all subsidiaries, the bank, registered an NPAT of TK591 crore in the first half of 2024 compared to TK334 crore in 2023.
BRAC Bank's standalone NPAT for the first half of 2024 was
TK519 crore, up from TK 303 crore in last year, registering a 71% growth.
Bank’s January-June 2024 performance show that Consolidated Earnings per share (EPS) increased to TK 2.95in H1 2024 compared toTK1.75in the corresponding period of 2023, the bank’s consolidated Net Asset Value (NAV) per share raised to TK39.95 on 30June 2024from TK37.60 in December 2023, consolidated Net Operating Cash Flow per share (NOCFPS) for the period of January to June 2024 ascended to TK 35.83 from TK 19.61 due to higher deposit mobilization from customers, the Bank maintained 135% NPL coverage to absorb any future shocks
Reflecting on the financial outcomes, the bank’s Managing Director & CEO 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.”
