Brac Bank, the SME-focused private bank of the country, has reported a robust 72 percent growth in year-on-year profit in the third quarter of 2016.
The bank reported a consolidated net profit of BDT 908 million during the July-September period, up from BDT 545 million in the same period a year earlier, according to a statement by the bank.
The bank's consolidated earnings per share rose to BDT 1.1 during July-September of 2016, up from BDT 0.86 in the same period a year ago. The EPS was Tk 3.62 during January-September of 2016, up from Tk 2.3 in the same period in 2015.
bKash, where Brac Bank owns 51% share, has been contributing to the bank’s profit steadily. Here is a year-to-year contribution of Bkash to Brac Bank’s profit. [chart]
Brac has been promoting a one-bank vision and applying a more customer-centric approach in the recent years in order to have a competitive edge in an already saturated market.