Central bank FY22 profits go through the roof

The Bangladesh Bank’s net profits rose astronomically by 406 per cent to Tk 29,247.01 crore in the last fiscal year due to earnings from foreign currency revaluation as well as growing interest income and commission.

Its highest income came from foreign currency revaluation in FY22, which was Tk 26,299.15 crore, a 909.29 per cent increase compared to the previous fiscal year.

The central bank’s net profit was Tk 5,777.22 crore in FY21.

In FY22, the banking regulator’s interest income (foreign currency) rose by 11.49 per cent to Tk 2,837.1 crore while commission increased by 67.29 per cent to Tk 52.73 crore, as per its financial statement.

The financial statement also said interest income (local currency) in FY22 rose by 7.3 per cent to Tk 2,723.98 crore while commission grew by 53.48 per cent to Tk 206.25 crore.

The central bank spent Tk 384.25 crore on printing banknotes and Tk 1,259.04 crore on staff costs in the 2021-22 fiscal year.