BRAC Bank’s profit surges

BRAC Bank PLC registered a 38.72 percent increase in profit to Tk 581.41 crore in the nine months to September this year.

The private commercial lender made a Tk 379.84 crore profit in the same period of 2022.

The bank, thus, reported consolidated earnings per share (EPS) of Tk 3.26 for January-September against Tk 2.35 in the identical period last year, according to a disclosure on the Dhaka Stock Exchange today.

"The EPS increased due to higher interest income amid the growth in loans and advances, investment income, and higher commission and brokerage income."

The consolidated net operating cash flow per share (NOCFPS) surged to Tk 28.02 from the previous year's Tk 4.46 while the consolidated net asset value per share (NAVPS) rose to Tk 40.22 on September 30 this year from Tk 38.01 on December 31 last year.

The NOCFPS increased significantly thanks to higher deposit mobilisation from customers and borrowings from banks. Besides, the NAVPS went up thanks to the growth in profit after tax, the filing added.