Brac Bank's net profit surges 72pc

Brac Bank's profit after tax rose 72 percent year-on-year in the third quarter of 2016.

The bank reported a consolidated net profit of Tk 90.8 crore during the July-September period, which was Tk 54.5 crore in the same period a year earlier, the bank said in a statement yesterday.

The figure was Tk 265.6 crore during January-September of 2016, up from Tk 154.5 crore in the same period of the previous year, according to the statement.

The bank's consolidated earnings per share hit Tk 1.1 during July-September of 2016, compared to Tk 0.86 in the same period of 2015. The EPS was Tk 3.62 during January-September of 2016, up from Tk 2.3 in the same period a year ago.

Local and foreign investment analysts and capital market experts participated in the programme which was also broadcast live on the internet for overseas stakeholders.

Selim RF Hussain, managing director of Brac Bank, and Parvez Sajjad, chief financial officer, presented the financial results and answered queries in a question and answer session.

“Brac Bank has, through its new customer-centric and one-bank vision, delivered a strong financial performance in the third quarter,” said Hussain.

“The bank has already achieved significant milestones on its journey to becoming the best bank in the country.” He said the bank is confident to keep the business momentum going over the next few years.