In the first nine months of this year, BRAC Bank Limited's consolidated net profit after tax (NPAT) increased by 74 percent to Tk 1,011 crore compared to the same period of the previous year.
The bank's post-tax net profit on a stand-alone basis rose 64 percent to Tk 827 crore. During this time the bank achieved 26 percent growth (annualized) in the balance sheet while maintaining consistent growth.
On the one hand, the bank's customer deposits increased by 34 percent (annualized) to Tk 61,602 crore and on the other hand, the amount of customer loans provided increased by 14 percent (annualized) to Tk 57,413 crore at the end of September 2024.
The bank has also achieved a 35 percent growth in overall income (on a year-on-year basis) over the same period of the previous year, driven by growth in both business and investment and significant growth in funded and non-funded income.
Along with achieving business growth, significant improvement in portfolio quality has also been ensured. As a result, the bank's non-performing loan (NPL) ratio has come down from 3.38 percent in December 2023 to 2.80 percent in September 2024.
Salim Reza Farhad Hossain, Managing Director and CEO of the bank said, the bank's overall performance highlights our ability to serve a growing customer base and meet the changing financial needs of customers. Growing faster than the industry-average, our consistent growth is rooted in our customers' unwavering trust in us.
