BRAC Bank MD to sell 4,85,023 shares

BRAC Bank Managing Director (MD) and Chief Executive Officer (CEO) Selim Reza Farhad Hussain has announced the sale of the bank's shares. He will sell some 4.85 lakh shares of BRAC Bank on his name.

This information was reported on the Dhaka Stock Exchange (DSE) website on Tuesday. According to the DSE filing, Selim Reza will sell a total of 4,85,023 shares out of some 4,95,023 shares of BRAC Bank held under his name. He will sell these shares at the prevailing market price in DSE within 30 working days.

BRAC Bank, a listed company in the capital market, has reported a 35 per cent growth in profit, crossing Tk 800 crore, for the year ending on December 31, 2023. This is the highest-ever profit logged in the company’s history.

According to the annual financial statement of the publicly traded bank, its net profit rose to Tk 827 crore in 2023, which stood at Tk 612 crore the year before.

Its consolidated earnings per share (EPS) were Tk 4.73 last year, which was Tk 3.75 in 2022.

To approve the dividend and the financial statement, the bank will hold its Annual General Meeting on May 30, and the record date has been set on May 7. The bank’s shares closed at Tk 38 per share on Tuesday’s bourse.

BRAC Bank was enlisted on the Dhaka Stock Exchange in 2007.