BRAC Bank Limited has earned a net profit (profit after tax) growth of 5.7 per cent in 2018 on standalone (solo) basis compared to 2017.
On consolidated basis, the fastest growing bank recorded a net profit growth of 3.1 per cent in year-on-year (y/y) in 2018 over the previous year, says a media release.
The lender reported a net profit after tax of Tk 5,670 million (consolidated) and Tk 5,547 million (standalone) in 2018, increasing from Tk 5,498 million (consolidated) and Tk 5,250 million (standalone) respectively.
However, the operating profit decreased to Tk 9,393 million (consolidated) and Tk 8,822 million (standalone) from Tk 9,422 million (consolidated) and Tk 9,050 million (standalone) respectively, reported last year.
The consolidated Earnings Per Share (EPS) of the bank rose to Tk 5.17 in 2018 from Tk 4.86 in 2017. The Earnings per Share (EPS) of the bank on standalone basis also rose to Tk 5.17 in 2018 from Tk 4.91 in 2017.
The net asset value (NAV) per share on consolidated basis at the end of December 2018 stood at Tk 32.87, compared to Tk 24.80 at the end of December 2017.
The net asset value (NAV) per share on standalone basis at the end of December 2018 stood at Tk 29.50, compared to Tk 24.23 at the end of December 2017.
The bank formally announced financial results of 2018 in an earnings disclosure programme at its head office in the capital city on Wednesday.
Local and foreign Investment analysts and capital market experts participated in the programme which was also broadcast live on the internet for overseas stakeholders.
Selim R. F. Hussain, Managing Director & CEO of the BRAC Bank Limited, presented the financial results and then answered queries in a Q&A session.
Tareq Refat Ullah Khan, Head of Corporate Banking; Nazmur Rahim, Head of Retail Banking; Syed Abdul Momen, Head of SME Banking; Shaheed Iqbal, Head of Treasury & FIs, and Mohammad Abdul Ohab Miah FCA, Acting Chief Financial Officer, and senior officials of the bank were also present.