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BRAC Bank registers Tk 1.38bn profit in Q3

  • Staff Correspondent
  • 22 November, 2021 12:00 AM
  • Print news
BRAC Bank registers Tk 1.38bn profit in Q3

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BRAC Bank has registered a Net Profit After-Tax (NPAT) of Tk 1.38 billion with a growth of 8 percent compared to the same quarter of 2020 on standalone basis.

On a consolidated basis the NPAT stood at Tk 1.23 billion with YoY decrease of 14 percent, said a press release.

The bank’s Q3 earnings were announced on a virtual platform on November 8 in 2021.

Local and foreign investment analysts, portfolio managers and capital market experts joined the event which was broadcast live on social media for the bank’s stakeholders. 

BRAC bank’s Managing Director and CEO Selim RF Hussain, DMD and Chief Financial Officer, M Masud Rana, DMD and Chief Operating Officer, Md Sabbir Hossain, DMD and Head of Corporate Banking, Tareq Refat Ullah Khan, DMD and Head of SME Syed Abdul Momen, Head of Retail Banking Md Mahiul Islam and Head of Treasury and FIs Md Shaheen Iqbal and Head of Credit Risk Management Ahmed Rashid Joy presented the financial results and outlined the bank’s strategy.

The bank’s Q3 performance are: Earnings Per Share (EPS) stood at Tk 0.99 on a standalone basis and Tk 1.02 on a consolidated basis.

Loans and advances grew by 5 percent compared to December 2020 in line with strategic direction, led by retail business while the bank was very selective in growing loans in the corporate and commercial businesses.

Customer deposits decreased by 4 percent compared to December 2020 with a conscious effort to use funding base optimally. However the CASA mix further improved to 59 percent at the end of Q3 2021 which was 53 percent in December 2020.