BRAC Bank PLC's shareholders have approved a 20% dividend for 2023, comprising 10% in cash and 10% in stock.
The decision was made during the 25th Annual General Meeting (AGM), held virtually on May 30, 2024, with significant shareholder participation, reads a press release.
The AGM was presided over by Chairperson Meheriar M. Hasan and attended by Vice Chairperson Faruq Mayeenuddin Ahmed and Directors Asif Saleh, Fahima Choudhury, Farzana Ahmed, Dr. Zahid Hussain, Shameran Abed, Dr. Mustafa K. Mujeri, Salek Ahmed Abul Masrur, Anita Ghazi Rahman, Chowdhury MAQ Sarwar, and Lila Rashid. Managing Director and CEO Selim R. F. Hussain addressed shareholder queries, expressing gratitude for their trust. Company Secretary M Mahbubur Rahman, FCS, moderated the meeting.
The bank reported a consolidated Net Profit After Tax (NPAT) of BDT 828 crore in 2023, a 35% increase from BDT 614 crore in 2022. On a standalone basis, NPAT was BDT 730 crore, up 27% from BDT 576 crore in 2022.
Chairperson Hasan highlighted the bank's strong financial performance despite macroeconomic challenges, noting significant growth in customer deposits, loans, and advances. He thanked shareholders, regulators, coworkers, and stakeholders for their support and expressed optimism for continued growth in 2024 and beyond.
