Home ›› 03 Jun 2022 ›› Stock
BRAC Bank has registered a profit after-tax (PAT) of Tk 134 crore in the first quarter (January-March) of 2022 on a standalone basis.
On a consolidated basis, the bank generated a PAT of Tk 97 crore during the first three months of 2022, said the bank in a statement on Thursday.
The bank announced its financial results for the first three months of 2022 along with other performance and operational achievements in a virtual earnings disclosure event on May 30, 2022.
BRAC Bank Managing Director and CEO Selim RF Hussain said: “BRAC Bank’s first quarter results show that the bank has been able to step up its customer acquisition and balance sheet growth plans as the economy recovers from the pandemic. Our strong customer base, wide network and digital channels have served us well.”
“We plan to continue this growth momentum going forward. I want to thank the talented BRAC Bank Team for their commitment, the Board of Directors for their continuous guidance and the Bangladesh Bank for their pro-active regulatory support during the difficult time”, he added.
The bank’s NPL was 4.1% in Q1, 2022, as compared to 3.9 per cent in December 2021, reflecting expected state after withdrawal of all forbearances.
Its Earnings Per Share (EPS) stood at Tk 0.89 on a standalone basis while EPS was Tk 0.94 in corresponding period of 2021 (restated considering 7.5 per cent stock dividend for 2021), said the statement.
The bank’s Net Asset Value (NAV) per share rose to Tk 37.15 during Q1, 2022 compared to Tk 30.72 in Q1, 2021 (restated considering 7.5 per cent stock dividend for 2021).
Its Net Operating Cash Flow Per Share jumped to Tk 5.17 from Tk 6.90 due to higher deposit mobilisation and additional funds borrowed in 2022.
Loan portfolio witnessed a solid 5.4 per cent (21.5 per cent, annualised) growth in first three months of 2022, registered a strong growth aligned with bank’s strategic direction.
Deposits continued to grow at pace to support assets growth and registering a 3.6 per cent (14.3 per cent, annualized) growth in Q1, 2022, highlighting customer confidence and loyalty.
