BRAC Bank Limited recorded a robust 74% growth in year-on-year after tax profit (consolidated)in the year of 2016.
The bank reported a consolidated after tax profit of BDT 4,062 million in 2016 which was BDT 2,339 million in 2015. The operating profit stood at BDT 9,851 million which was BDT 8,084 million in 2015. The bank’s consolidated Earnings Per Share (EPS) hit BDT 5.47 in 2016 which was BDT 3.19 in 2015.
The bank’s solo Earnings Per Share (EPS) hit BDT 6.28 in 2016 which was BDT 3.43 in 2015. The bank’s solo net asset value (NAV) per share at the end of December 2016 stands at BDT 30.18, compared to BDT 26.53 at the end of December 2015.
Local and foreign Investment analysts and capital market experts participated in the program which was also broadcast live on the internet for overseas stakeholders. Mr. Selim R. F. Hussain, Managing Director & CEO, and Mr. A. K. Joaddar, Deputy Managing Director &Chief Financial Officer, BRAC Bank Limited, presented the financial results and then answered queries in a Q&A session.
Hussain said, “BRAC Bank has, through its new customer-centric and one-bank vision, delivered a robust financial performance in 2016. Our significant investment in technology, processes, premises and most importantly people were instrumental to this outstanding results. The bank has already achieved significant milestones on its journey to becoming the best Bank in the country and is confident of continuing business momentum over the next few years.”