Private sector BRAC Bank made a record profit of Tk 800 crore in 2023. This is about Tk 300 crore more than the previous year.

On Thursday (April 4), Managing Director and CEO of BRAC Bank Salim R. F. Hossain gave this information in a press briefing with journalists at the bank’s head office. He also said that BRAC Bank wants to become the top private bank in Bangladesh within the next 4 years.

The CEO said that this success is proof of our unwavering commitment towards the customer-society and the country. The trust and confidence of customers and stakeholders fuels us. Thus we are always ready to continue our role in innovation, empowerment and sustainable development of Bangladesh.

It was informed in the press conference that 2 lakh 62 thousand 584 new customers have been added to the retail banking segment in 2023. As a result, the total number of customers of the bank stands at 12 lakh 36 thousand 740 people. Also, 1 lakh 2 thousand 48 new CMSME accounts were opened in the SME sector. This is the result of relentless efforts of the bank staff in supporting innovation and grassroots entrepreneurs. Also, the bank has served a total of 8,753 corporate customers in the corporate banking segment.

It is reported that BRAC Bank is investing heavily in digital transformation. About 80% of new accounts opened last year were through EKYC. The bank has achieved the milestone of 5 lakh users on the ‘Astha’ app with 1 crore 60 lakh transactions on the app. The app’s popularity among customers is increasing tremendously due to ease of use, greater security and modern banking solutions.

It was also informed in the press conference that the initiatives taken by BRAC Bank have a positive impact in other areas besides financial success. 93 percent of the total unsecured loans of the banking sector have been given by BRAC Bank. The bank has supported around 150 women entrepreneurs in various fields under the ‘Udyokta 101’ programme. BRAC Bank has also contributed significantly to rural development and women empowerment by disbursing agricultural loans of Tk 729 crore.

The Managing Director said that BRAC Bank’s international trade activities, including RMG textile exports of 1.19 billion dollars and imports of 2.5 billion dollars, have contributed significantly to the economy of Bangladesh. Green financing and sustainable financing – an indication of BRAC Bank’s commitment to environmental issues.

Also, BRAC Bank has played an important role as a responsible corporate citizen of the country by paying tax of Tk 1,940 crore to the national exchequer. By expanding the bank’s network by opening 1,800 agent banking outlets and 40 sub-branches across the country, BRAC Bank is providing uninterrupted, accessible and convenient banking services to its customers.

BRAC Bank Limited started its journey in 2001 with a vision of giving priority to financing the Small and Medium Enterprises (SME) sector. Till date the bank is one of the fastest growing banks in the country. The bank’s shares are traded on the Dhaka Stock Exchange under the symbol ‘BRACBANK’. With 187 branches, 40 sub-branches, 330 ATMs, 456 SME unit offices, 1,400 agent banking outlets and a large workforce of more than 8,000 people, BRAC Bank is also serving the corporate and retail segments.

The bank’s solid and strong financial performance now leads the banking industry on all key metrics. BRAC Bank has been established as the largest unsecured SME financing bank in the country in the last 22 years with more than 1.8 million customers. BRAC Bank has set a unique example of good governance, transparency and discipline in the banking sector of the country.