BRAC Bank Ltd. reported a significant 69% year-on-year profit increase for the July-September period, reaching Tk 4.19 billion.
According to the bank’s latest unaudited financial statements, this robust growth was attributed to higher investment income and strong performance in commission and fee-based revenue streams.
The bank’s earnings per share (EPS) rose to Tk 1.97, up from Tk 1.22 in the same quarter last year, signaling improved profitability.
Additionally, net operating cash flow per share nearly doubled year over year, hitting Tk 49.51 for the first nine months of 2024, compared to Tk 25.10 in 2023. BRAC Bank credited this increase to higher deposit mobilization from customers and other banks, combined with moderate loan growth.
The bank also noted improved net asset value per share, driven by net profit growth and a revaluation reserve on government securities.
