Standard Chartered Bangladesh (SCB) has posted a record profit of Tk 3,300 crore for the financial year 2024, making it the most profitable bank in the country, according to its annual financial disclosure published on Tuesday.
The British multinational bank recorded a 41 percent year-on-year increase in net profit, up from Tk 23.35 billion in 2023. The latest results reflect a doubling of SCB’s earnings over the last two years, as it reported Tk 16.55 billion in 2022.
SCB’s net interest income surged by 33 percent year-on-year to Tk 27.17 billion in the year ending 31 December 2024, driven by robust lending and a favourable interest rate environment, according to the bank’s financial report.
The earnings place SCB well ahead of its peers in the banking sector. In comparison, major local and foreign banks, including HSBC Bangladesh, BRAC Bank, City Bank, Pubali Bank, Prime Bank, and Dutch Bangla Bank, all reported profits below Tk 15 billion for the same period. Among these, BRAC Bank recorded the highest at Tk 14.32 billion.
