It is a broadly described annual report of Brac Bank Limited in the year of 2008. In 2008, despite the challenge in the economic arena, the bank grew its assets by 56.18% and deposits by 54.70% while the industry growth was 16.03% in deposit and 18.84% in assets. The Bank earned Taka. 3.173 billion operating profit in 2008 which is 63.14% higher than the previous year. The banks’ net income stood at Taka. 973.45 million which is 57.43% higher from the last year. In 2008 the banks’ EPS stood BDT 62.30 and in 2007 it was BDT 42.30. The growth rate is 47.28%. Remittances in 2008 stood higher at US$8,979.00 million against US$6,557.81 million in 2007. This was, however, higher by US$2,421.19 million or 36.92 percent against US$6,557.81 million in 2007. Earnings per share stood at Tk. 62.30 as on December 31st, 2008 compared to Tk. 42.30 at the end of the previous year which is restated because of issuance of bonus shares during the year.
The Board of Directors perused a dividend policy that makes a continuous effort to uphold and protect the interest of the Shareholders. Accordingly, the Board has recommended 30% Stock dividend for the year ended 31st December 2008 subject to the approval of the 10th Annual General Meeting. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
More Annual Report of Brac Bank Limited:
- Annual Report 2008 of Brac Bank Limited
- Annual Report 2009 of Brac Bank Limited
- Annual Report 2010 of Brac Bank Limited
- Annual Report 2011 of Brac Bank Limited
- Annual Report 2012 of Brac Bank Limited
- Annual Report 2013 of Brac Bank Limited
- Annual Report 2014 of Brac Bank Limited
- Annual Report 2015 of Brac Bank Limited
- Annual Report 2016 of Brac Bank Limited