BRAC Bank, a leading commercial bank in the country, has witnessed a steady growth in net profit over the past five years, driven by 'responsible' and 'compliant' operations.
The bank reported its consolidated net profit of over Tk 5.67 billion for the year ending on December 31, 2018, up 3.13 per cent over the previous year.
It posted consolidated net profit of Tk 5.49 billion in 2017, Tk 4.07 billion in 2016, Tk 2.34 billion in 2015, and Tk 2.03 billion in 2014.
The bank also maintained a steady growth in operating profit in the years from 2014 to 2017.
Its consolidated operating profit was Tk 6.59 billion in 2014, Tk 7.12 billion in 2015, Tk 8.61 billion in 2016 and Tk 9.42 billion in 2017.
The consolidated operating profit, however, declined marginally in 2018, compared to previous year.
In 2018, the bank's operating profit stood at over Tk 9.39 billion, down 0.31 per cent over the previous year.
The bank's earnings per share (EPS) also rose steadily in the years from 2014 to 2018.
The BRAC Bank reported its consolidated EPS of Tk 3.08 in 2014, Tk 3.19 in 2015, Tk 4.55 in 2016, Tk 4.86 in 2017 and Tk 5.17 in 2018.
On standalone basis, the bank's EPS was Tk 5.17 in 2018, Tk 4.91 in 2017, Tk 5.23 in 2016, Tk 3.43 in 2015 and Tk 3.19 in 2014.
Selim RF Hussain, managing director and CEO of BRAC Bank, in the bank's annual report, said 2018 was a challenging year for the financial industry in Bangladesh.
Faced with rising interest rates and the unexpected move to regulate the credit deposit ratio, the country experienced a stark liquidity crisis, he said.
Amid 'stark' liquidity crisis, the bank halted all retail lending and readjusted SME and corporate borrowing, he added.
"… in 2018, we are especially proud of achieving steady growth despite the macroeconomic challenges that we faced along the way," Mr. Selim said.
By 2020, BRAC Bank aims to be recognised as the best bank in Bangladesh, he added.
"To achieve this, it also aims to be fully digital within a couple of years with the help of some of the leading financial technology solution providers," Selim said in his message published in the annual report for 2018.
BRAC Bank, listed in 2007 and presently an 'A' category company, disbursed 15 per cent stock dividend in 2018, 25 per cent stock dividend in 2017, 20 per cent stock and 10 per cent cash dividend in 2016, and 25 per cent cash dividend in 2015.
The company's sponsor-directors hold 44.30 per cent shares, foreigners 42.57 per cent, institutes 7.44 per cent, and general shareholders 5.74 per cent as of June 30, 2018.
The company's share price closed at Tk 61.60 each on Thursday on the Dhaka Stock Exchange (DSE).
On the day, the bank's market capitalisation stood at Tk 75.97 billion on the premier bourse.
The company's subsidiaries are bKash, BRAC EPL Stock Brokerage, BRAC Saajan Exchange and BRAC EPL Investment.
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