BRAC Bank continues to ‘maintain growth momentum’

BRAC Bank Limited, the largest market cap in the Bangladesh banking sector, continues to maintain its growth momentum. BBL's H1-'19 customer loans and deposits have grown well above industry averages.

BBL's strong governance, client acquisition strategies and risk management processes continue to drive NPLs down - the bank's 30th June 2019 NPLs are about one-third of industry average.

The bank continues to aggressively pursue its digitalization agenda, having upgraded its Core Banking System, installed Oracle ERP, Treasury Management System, upgraded its Credit & Debit systems, upgraded its Call Centre Systems and Relocated Call Centre. The bank has also rolled out a digital 24/7 Agent Banking capability and has already on-boarded 100+ Agents.

The disclosure programme was broadcasted live on the internet for the bank's overseas stakeholders, local and foreign investment analysts and capital market experts.

BRAC Bank's Senior Management including the Managing Director & CEO Selim R. F. Hussain, and Deputy Managing Director & CRO Chowdhury Akhtar Asif, presented the financial results and provided an interactive Live Q&A session. Head of Corporate Banking Tareq Refat Ullah Khan,Head of SME Banking Syed Abdul Momen, Head of Treasury & FIs Shaheed Iqbal also presented their business highlights at the program at the bank's Head Office in Dhaka on Monday.

Commenting on the bank's disclosures, Selim R. F. Hussain, said, "BRAC Bank has continued to grow customer deposits and loans at a rate well above the industry average. The SME and Retails asset portfolios continue to improve and major de-risking initiatives have also been taken in the Corporate segment- all despite difficult market conditions. The Bank's priority has been to improve liquidity and reduce money market dependency and that, too, has been achieved. The Digital Transformation strategy is gaining momentum with a new Innovation Studio launched and multiple projects having been initiated. The Bank is on a strong footing and is looking to build the platform for exponential business growth in the medium term."