BRAC Bank has reported an impressive profit exceeding BDT 1,000 crore for the first nine months of 2024, reflecting a robust 31% increase compared to last year. This growth underscores the bank’s strong performance in a competitive financial landscape. The bank’s operating profit reached BDT 1,685 crore, showcasing its ability to generate revenue effectively. A significant contributor to this success was a 23% rise in net interest income, which climbed to BDT 1,971 crore. This increase can be attributed to a surge in demand for credit, particularly in the trade finance sector, which has seen heightened activity as businesses seek to capitalize on market opportunities. Additionally, the bank saw a significant increase in deposits, which strengthened its liquidity and made it possible to keep funding expansion plans. Consequently, BRAC Bank’s total assets have increased to a staggering BDT 1.57 lakh crore, demonstrating its growing presence in the banking industry. With a healthy capital position and the capacity to absorb possible losses while encouraging further expansion, the bank’s capital efficiency ratio is a respectable 12.5%. BRAC Bank’s financial performance as a whole demonstrates its adaptability and strategic emphasis on satisfying client demands in a changing economic climate.
Source: Business Inspection BD
