BRAC Bank PLC shareholders approve 25% dividend. The shareholders of BRAC Bank PLC have approved a 25% dividend for 2024, of which 12.5% will be distributed in the form of cash dividend and 12.5% in the form of stock dividend.
The approval was given at the bank’s 26th Annual General Meeting (AGM) held on a virtual platform today, Thursday (June 19). A significant number of shareholders attended the AGM.
At the meeting, the bank’s Managing Director and CEO (Current Charge) Tarek Refat Ullah Khan thanked the shareholders for their unwavering trust in the bank. Company Secretary M Mahbubur Rahman, FCS conducted the AGM.
The shareholders were informed that in 2024, BRAC Bank achieved a consolidated net profit after tax (NPAT) of Tk 1,432 crore, up 73% from the previous year, compared to Tk 828 crore in 2023. On a standalone basis, net profit after tax stood at Tk 1,214 crore, up 66% from Tk 730 crore in the previous year.
In his remarks, the bank’s Chairperson, Mehreer M. Hassan, highlighted the bank’s strong financial strength despite macroeconomic challenges. Among the notable highlights he highlighted was the bank’s 34% growth in customer deposits and 20% growth in loans on a standalone basis in 2024. He thanked shareholders, regulators, colleagues and stakeholders for their support and continued trust. He also expressed his hope that BRAC Bank would achieve even greater success in 2025.
The bank’s Chairperson, Mehreer M. Hassan Vice Chairperson Faruk Moinuddin Ahmed and directors Farzana Ahmed, Anita Gazi Rahman, Chowdhury MAQ Sarwar and Leela Rashid were also present at the AGM, chaired by Hasan.