BRAC Bank achieved a 73% (year-over-year) growth in its Net Profit After-Tax (NPAT) on a consolidated basis for 2024 amid challenging market conditions. The bank’s consolidated financials, which include all its subsidiaries, showed an NPAT of BDT 1,432 crore in 2024, a significant increase from the BDT 828 crore reported in 2023.

BRAC Bank stand-alone 2024 NPAT was BDT 1,214 crore, representing a 66% increase from the previous year’s BDT 730 crore. Despite the stressed industry conditions, the Bank delivered strong balance sheet growth, significantly ahead of market average growth rates – with customer deposits growing by 34% and loans and advances increasing by 20%.

The bank’s financial statements for FY 2024 were approved by the Board of Directors on April 28, 2025. Here are highlights of major accomplishments in the year 2024 in terms of business growth and social impact:

Strong Customer Growth and Sectoral Support:

In 2024, BRAC Bank welcomed over 350,000 new customers to its Retail Banking segment, totaling 13+ lakh. This achievement underscores the bank’s dedication to meeting its customers’ evolving needs with personalized financial solutions. The SME sector, vital to the economy, saw more than 100,000 new CMSME customers onboarded, reflecting BRAC Bank’s support for grassroots entrepreneurship and innovation. Additionally, the corporate banking segment grew to 9,500 customers, playing a crucial role in supporting the nation’s large corporations.

Strategic Digital Initiatives:

2024 has seen a continuation of BRAC Bank’s investment in digital transformation, with 77% of all new account openings being executed through eKYC. Astha App customer base stood at over 800,000 at the end of 2024. The app facilitated 2.7 crore transactions worth over 1.5 lakh crore Taka in 2024 and showcased the bank’s commitment to providing accessible, secure, and convenient digital banking services.

Empowering Communities and Fostering Sustainable Development:

BRAC Bank’s initiatives extend beyond financial success. The bank has financed 43% of the industry’s total collateral-free CMSME loans. It has supported 210 women entrepreneurs under the “Uddokta 101” programme. With BDT 979 crore in agricultural loans disbursement, BRAC Bank has also significantly contributed to rural development and women’s empowerment.

Global Contributions and Environmental Stewardship:

The bank’s international trade activities, including USD 2.06 billion in exports and USD 3.33 billion in imports, have substantially contributed to Bangladesh’s economy. BRAC Bank’s environmental commitment is evident in its support for green factories and sustainable financing schemes.

Tax Contributions to National Exchequer:

Reflecting its role as a responsible corporate citizen, BRAC Bank contributed BDT 1,939 crore to the national exchequer in taxes.

Network Expansion:

BRAC Bank continues to expand its network to cover more areas and reach out to more people elevating customer experience with more convenience and superior amenities. BRAC Bank is one of Bangladesh’s most expansive banking networks with 263 branches & sub-branches, 329 ATMs, 446 SME Unit Offices, and 1,119 Agent Banking Outlets, a network that signifies its commitment to enhancing customer accessibility and convenience.

Highlights of the Bank’s performance in FY 2024: 

• Earnings per share (EPS) increased to BDT 6.95 on a consolidated basis in 2024 from BDT 4.30 in 2023
• The bank’s consolidated net asset value (NAV) per share raised to BDT 44.11 from BDT 37.60 compared to previous year
• Net cash flow per share (NOCFPS) on consolidation basis increased to BDT 60.91 in 2024 compared to BDT 37.05 in 2023
• BRAC Bank’s loan portfolio grew by 20% YoY, compared to average industry growth of around 7%
• Customer Deposits grew by 32% YoY; compared to average industry growth of around 7%
• Consolidated Return on equity (RoE) and Return on assets (RoA) stood at 19.80% and 1.51% respectively
• Total consolidated revenue increased by 39% YoY in 2024, driven by higher net interest income resulting from loan growth, efficient fund management and higher non-funded income
• Total consolidated operating costs increased by 18% compared to 2023 mainly driven by investment in people, technology and infrastructure to support its growth strategy
• The bank’s NPL (non-performing loans) improved to 2.63% in 2024 from 3.38% in 2023 driven by initiatives in underwriting, monitoring and recovery

As the bank aims to continue with its growth journey, significant focus has been given towards increasing the regulatory capital. With the issuance of subordinated bond, the bank’s standalone regulatory capital reached BDT 7,143 crore in 2024 which was BDT 5,509 crore in 2023.

Commenting on outstanding financial results of FY 2024, Selim R. F. Hussain, the bank’s Managing Director and CEO, commented: “As we reflect on our journey in 2024, our success stands as a testament to our unwavering commitment to our customers, our community, and our country. “Fueled by the trust and confidence of our customers and stakeholders, we are poised to continue innovating, empowering, and contributing to the sustainable development of Bangladesh.”

“With consistent financial performance over the years, BRAC Bank is recognized by all stakeholders as a role-model for corporate governance, compliance & values-based banking in Bangladesh. We would like to thank our Chairperson and Board of Directors for their counsel, the Central Bank for their guidance and our customers for their steadfast trust in BRAC Bank,” he added.

The details of the financial result are available on the BRAC Bank website: https://www.bracbank.com/en/investor-relations#financialStatements.