BRAC Bank announces 20% dividend

BRAC Bank today announced a 20 percent dividend, including a 10 percent cash dividend, for the year that ended on December 31, 2023.

The announcement came at the bank's 25th annual general meeting (AGM), which was held virtually, the bank said in a press release.

Meheriar M Hasan, chairperson of the bank, presided over the meeting.

In his remarks, Hasan highlighted the bank's outstanding financial performance despite macroeconomic challenges. The key highlight of 2023 was the remarkable growth in customer deposits, loans, and advances.

He thanked the shareholders, regulators, coworkers, and stakeholders for their continuous support and trust and expressed strong optimism that the bank would grow even more in 2024 and beyond.

Selim RF Hussain, managing director and CEO of the bank, responded to the shareholders' queries and thanked them for their unwavering trust and confidence in the bank.

M Mahbubur Rahman, company secretary, moderated the meeting, which Faruq Mayeenuddin Ahmed, vice-chairperson of the bank, attended.

The bank registered a net profit after tax of Tk 828 crore in 2023 on a consolidated basis, with a growth of 35 percent from the Tk 614 crore reported in 2022.

On a standalone basis, the net profit after tax stood at Tk 730 crore, an increase of 27 percent compared to the net profit after tax of Tk 576 crore in 2022.

Asif Saleh, Fahima Choudhury, Farzana Ahmed, Zahid Hussain, Shameran Abed, Mustafa K Mujeri, Salek Ahmed Abul Masrur, Anita Ghazi Rahman, Chowdhury MAQ Sarwar and Lila Rashid, directors of the bank, also joined the meeting.