BRAC Bank records 73% profit growth in 2024

BRAC Bank has reported a 73% year-on-year rise in consolidated net profit after tax (NPAT) for 2024, underpinned by strong growth in deposits, loans, and digital banking activities amid a challenging economic environment.

The bank's consolidated NPAT stood at Tk 1,432 crore in 2024, up from Tk 828 crore the previous year. On a stand-alone basis, the bank posted a profit of Tk 1,214 crore, a 66% increase from 2023's figure of Tk 730 crore.

The financial statements for 2024 were approved by the Board of Directors on 28 April 2025.

Despite prevailing macroeconomic headwinds, BRAC Bank achieved notable balance sheet expansion, with customer deposits rising by 34% and loans and advances growing by 20%—well above the industry average of 7%.

Growth across segments

The bank welcomed more than 3.5 lakh new retail banking customers, taking its total retail base beyond 13 lakh. Its SME portfolio saw the onboarding of over 1 lakh CMSME customers, reinforcing its continued commitment to grassroots entrepreneurship. The corporate banking segment expanded to 9,500 customers.

Digital transformation continues

Digital banking remained a core focus. In 2024, 77% of all new accounts were opened using eKYC. The Astha App reached over 8 lakh users and processed 2.7 crore transactions valued at over Tk 1.5 lakh crore during the year.

Driving inclusion and sustainability

BRAC Bank financed 43% of the banking industry's total collateral-free CMSME loans. It supported 210 women entrepreneurs through its "Uddokta 101" programme and disbursed Tk 979 crore in agricultural loans, contributing to rural empowerment and financial inclusion.

On the global front, BRAC Bank facilitated export transactions worth USD 2.06 billion and imports of USD 3.33 billion. It also extended financing to green factories and other environmentally sustainable initiatives.

Contribution to national exchequer

The bank paid Tk 1,939 crore in taxes in 2024, reflecting its commitment as a responsible corporate entity.

Network expansion

With 263 branches and sub-branches, 329 ATMs, 446 SME unit offices, and 1,119 agent banking outlets, BRAC Bank operates one of the country's largest banking networks, furthering accessibility and customer convenience.

Key financial indicators for FY 2024

• Consolidated earnings per share (EPS) rose to Tk 6.95, up from Tk 4.30 in 2023
• Net asset value (NAV) per share increased to Tk 44.11 from Tk 37.60
• Net operating cash flow per share (NOCFPS) reached Tk 60.91, up from Tk 37.05
• Consolidated revenue rose by 39%, driven by higher net interest income and non-funded income
• Operating expenses increased by 18% due to strategic investments in talent, technology, and infrastructure
• NPL ratio improved to 2.63%, down from 3.38%
• Return on equity (RoE) stood at 19.80%, and return on assets (RoA) at 1.51%
• Regulatory capital increased to Tk 7,143 crore in 2024 from Tk 5,509 crore in 2023, aided by the issuance of a subordinated bond

CEO's remarks

Reflecting on the bank's performance, BRAC Bank Managing Director and CEO Selim R. F. Hussain said, "Our 2024 results highlight our steadfast focus on sustainable growth, innovation, and our role in national development. We thank our customers for their trust, our Board for their guidance, and our team for their dedication."

"With consistent performance and values-driven governance, BRAC Bank continues to be recognised as a role model for responsible banking in Bangladesh," he added.

For further details, visit: https://www.bracbank.com/en/investor-relations#financialStatements