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Brac Bank Reports Sharp Growth In Profit, bKash’s Contribution Continues To Grow

Nov 5, 2016

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.

Brac Bank profit growth vs bKash contribution
Brac Bank profit growth vs bKash contribution

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.

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