The shareholders of Brac Bank PLC have approved a 25% dividend – 12.5% in cash and 12.5% in stock - for the year 2024.
The approval came at the 26th Annual General Meeting (AGM) held on a virtual platform on Thursday. A significant number of shareholders participated in the AGM.
Presided over by Chairperson Meheriar M Hasan, the AGM was also attended by Vice Chairperson Faruq Mayeenuddin Ahmed and Directors - Farzana Ahmed, Anita Ghazi Rahman, Chowdhury MAQ Sarwar and Lila Rashid.
The bank's Managing Director and CEO (Current Charge) Tareq Refat Ullah Khan thanked valued shareholders for their unwavering trust and confidence in the bank. Company Secretary M Mahbubur Rahman, FCS, moderated the AGM.
The shareholders were informed that the bank registered a Net Profit After-Tax (NPAT) of Tk1,432 crore in 2024 on a consolidated basis, with a growth of 73% from the Tk828 crore reported in 2023.
On a standalone basis, NPAT stood at BDT 1,214 crore, with an increase of 66% compared to Tk730 crore in 2023.
In his remarks, Chairperson Meheriar M Hasan highlighted the bank's outstanding financial performance despite macroeconomic challenges.
The key highlight of 2024 was customer deposits growing by 34% and loans, and advances by 20% on a standalone basis. He thanked the shareholders, regulators, coworkers, and stakeholders for their continuous support and trust and expressed his strong optimism that the bank would achieve even more growth in 2025 and beyond.
