BRAC Bank’s consolidated Net Profit After-Tax (NPAT) grew by 53.1% year-on-year at the end of the third quarter (Q3) 2023, supported by strong balance sheet growth.
For January-September 2023, the bank's consolidated financial data, accounting for all subsidiaries, registered an NPAT of BDT 581.4 crore. This figure stands in comparison to BDT 379.8 crore during the same span in 2022.
BRAC Bank's individual NPAT at the end of the Q3 of 2023 was BDT 503.47 crore, up from BDT 392.4 crore in the corresponding period of the previous year. At the end of September 2023, the bank had an 18.5% rise in its standalone loan portfolio and a 20.3% increase in customer deposits compared to December 2022.
BRAC Bank presented its financial achievements and operations for the Q3 of 2023 at a virtual earnings disclosure event on November 07. This online event, which was streamed live on social media platforms, saw participation from investment analysts, portfolio managers, and financial market specialists both locally and internationally.
Selim R. F. Hussain, BRAC Bank's Managing Director and CEO, alongside other top officials, shared insights on the bank's performance and operational milestones and detailed their future strategic direction. The event concluded with a Q&A session.
