Dhaka, Bangladesh (BBN)– BRAC Bank has recorded nearly 35 percent growth in year-on-year net profit (consolidated) in the year that ended on December 31, 2017.
The bank reported a consolidated profit after tax of nearly BDT 5.50 billion for the year that ended on December 31, 2017 which was BDT 4.07 billion in 2016, according to a statement.
The bank’s consolidated earnings per share stood at BDT 6.07 for the year that ended on December 31, 2017 which was BDT 4.55 in the previous year.
The bank’s consolidated net asset value per share stood at BDT 31.10 at the end of 2017, compared to BDT 31.18 in the last year.
The bank’s consolidated net operating cash flow per share stood at BDT 24.99 for the year ended of 2017, which was BDT 13.75 in the previous year.
The board of directors of BRAC Bank has recommended 25 percent stock dividend for the year ended on December 31, 2017.
The final approval of the dividend will come during the annual general meeting scheduled to be held on April 26 in Dhaka.
The record date for entitlement of dividend is April 11.
In 2016, the bank disbursed 10 percent cash and 20 percent stock dividend.
There will be no price limit on the trading of the shares of the bank today (Sunday) following its corporate declaration.
Each share of the bank, which was listed on the Dhaka bourse in 2007, closed at BDT 90.90 on Thursday at the Dhaka Stock Exchange.
The bank’s price traded between BDT 70.40 and BDT 114.40 in the last one year.
The bank’s paid-up capital is BDT 8.58 billion and authorised capital is BDT 12 billion while the total number of securities is 858 million.
The sponsor-directors own 44.30 percent stake in the bank, while the institutional investors 8.59 percent, foreign investors 40.32 percent and the general public 6.79 percent as on February 28, 2108, the DSE data shows.