BRAC Bank (BRACBANK) Q4 2024 earnings summary

Executive summary

• FY'24 consolidated operating income rose 39% to BDT 6,433 Cr and PAT increased 73% to BDT 1,432 Cr; Q1'25 operating income grew 28% to BDT 1,903 Cr and PAT rose 53% to BDT 486 Cr.

• Total assets reached BDT 1.06 trillion; FY'24 deposits grew 34% against 7% market growth and loans increased 20% against 7% market growth.

• The loan portfolio comprised 42% corporate, 42% SME and 16% retail; customer numbers grew 14% in FY'24, adding 247k.

• CEO Salim Ahmed Hussain resigned; the board accepted the resignation, with strategic direction and objectives unchanged.

Financial highlights

• FY'24 standalone operating income rose 40% to BDT 4,425 Cr and PAT grew 66% to BDT 1,214 Cr; investment income increased 181% while net interest income fell 24%.

• Q1'25 standalone operating income rose 24% to BDT 1,267 Cr and PAT increased 34% to BDT 364 Cr; investment income grew 90% while net interest income declined 18%.

• FY'24 consolidated EPS was BDT 6.95, up 62%; Q1'25 EPS was BDT 2.27, up 47%.

• FY'24 net interest margin improved to 4.1%, up 15–20 bps year-over-year; cost-to-income ratio fell to 47%.

• FY'24 consolidated net interest income fell 20% and Q1'25 fell 10%; investment income offset the declines in both periods.

Outlook and guidance

• Economic recovery was expected to strengthen from July 2025; inflation was projected to fall below 7% by August and decline further by December.

• Targeting USD 7 billion in trade volume in 2025, up from USD 5 billion in 2024.

• Priorities include SME banking, digital innovation and expanding transactional deposits; no major strategic shifts were anticipated after the leadership change.

• Management expected to maintain strong capital, liquidity and asset quality, with continued focus on digital transformation and risk management.

• Sustainable finance portfolio reached BDT 502.1 billion and green finance BDT 89.6 billion in FY'24.