BRAC Bank declares 25% dividends

BRAC Bank PLC has declared a 25 percent dividend, including a 12.5 percent cash dividend, for the year 2024.

The announcement was made during the bank's 26th annual general meeting (AGM), which was held virtually recently, according to a press release.

Presided over by Chairperson Meheriar M Hasan, the AGM was also attended by Faruq Mayeenuddin Ahmed, vice-chairperson; and Farzana Ahmed, Anita Ghazi Rahman, Chowdhury MAQ Sarwar, and Lila Rashid, directors.

In his remarks, Hasan highlighted the bank's outstanding financial performance despite macroeconomic challenges. A key highlight of 2024 was customer deposits growing by 34 percent and loans and advances by 20 percent on a standalone basis.

He thanked the shareholders, regulators, coworkers, and stakeholders for their continuous support and trust, and expressed his strong optimism that the bank would achieve even more growth in 2025 and beyond.

Tareq Refat Ullah Khan, managing director and chief executive officer (current charge) of the bank, thanked shareholders for their unwavering trust and confidence in the bank.

M Mahbubur Rahman, company secretary, moderated the AGM, where a significant number of shareholders took part.

The shareholders were informed that the bank reported a 73 percent year-on-year increase in net profit after tax (NPAT), reaching Tk 1,431 crore on a consolidated basis in 2024, compared to Tk 828 crore in the previous year.

On a standalone basis, NPAT stood at Tk 1,214 crore, marking a 66 percent rise from Tk 730 crore in 2023.