The 26th Annual General Meeting (AGM) of BRAC Bank PLC was held on a virtual platform on Thursday, with Chairperson Meheriar M. Hasan in the chair. The shareholders of BRAC Bank PLC have approved a 25 per cent dividend -- 12.5 per cent in cash and 12.5 per cent in stock -- for the year 2024.
The approval came at the 26th Annual General Meeting (AGM) held on a virtual platform on Thursday. A significant number of shareholders participated in the AGM, says a statement.
Presided over by Chairperson Meheriar M. Hasan, the AGM was also attended by Vice Chairperson Faruq Mayeenuddin Ahmed and Directors Farzana Ahmed, Anita Ghazi Rahman, Chowdhury MAQ Sarwar and Lila Rashid.
The bank's Managing Director & CEO (Current Charge) Tareq Refat Ullah Khan thanked valued shareholders for their unwavering trust and confidence in the bank. Company Secretary M Mahbubur Rahman moderated the AGM.
The shareholders were informed that the bank registered a net profit after-tax (NPAT) of BDT 14.32 billion in 2024 on a consolidated basis, with a growth of 73 per cent from BDT 8.28 billion reported in 2023. On a standalone basis, NPAT stood at BDT 12.14 billion, with an increase of 66 per cent compared to BDT 7.30 billion in 2023.
Chairperson Meheriar M. Hasan highlighted the bank's outstanding financial performance despite macroeconomic challenges. The key highlight of 2024 was customer deposits growing by 34 per cent and loans and advances by 20 per cent on a standalone basis.
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