BRAC Bank PLC. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023
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BRAC Bank PLC. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was BDT 5,157.23 million compared to BDT 4,708.16 million a year ago. Net income was BDT 2,153.83 million compared to BDT 1,589.51 million a year ago. Basic earnings per share from continuing operations was BDT 1.2182 compared to BDT 0.9 a year ago.
For the nine months, net interest income was BDT 15,354.03 million compared to BDT 13,894.75 million a year ago. Net income was BDT 5,251.62 million compared to BDT 3,787.79 million a year ago. Basic earnings per share from continuing operations was BDT 2.9636 compared to BDT 2.1364 a year ago.
BRAC Bank PLC (the Bank), formerly BRAC Bank Limited, is a Bangladesh-based commercial bank. The Bank provide banking solutions to the unbanked small and medium entrepreneurs. The Bank is engaged in banking and related activities, such as accepting deposits, lending to retail, small and medium enterprise (SME) and corporate customers, trade financing, lease financing, project financing, issuing letter of credit (LCs), inter bank borrowing and lending, dealing in government securities, and equity shares. Its retail banking services include premium banking, employee banking, deposit products, loan products, and cards. Its Corporate banking services include Working Capital Financing, cash management, and custodial services. Its SME services include loan products, deposit products, and cards. The bank also provides Mobile Banking, Internet Banking, and 24-hour call center.