Flash Report /
Bangladesh

BRAC Bank: 2019 – Solo earnings flat but subsidiaries drag consolidated earnings

  • BRAC Bank (BRAC BD) declared consolidated EPS of BDT4.01 for 2019, suggesting a c12.4% yoy decline in profit

  • Solo bank reported EPS of BDT4.58 implying a growth of 1.7% yoy against our expectaion of 3% yoy growth

  • BRAC declared a BDT0.75 and a 7.5% stock dividend for 2019

IDLC Securities
24 April 2020
Published byIDLC Securities

BRAC Bank (BRAC BD) declared consolidated EPS of BDT 4.01 for 2019, suggesting a c12.4% yoy decline in profit. It also underperformed our annual EPS expectation of BDT4.26 by 5.8%. However, it posted EPS of BDT4.58 implying a growth of 1.7% yoy in solo banking business, in line with our expectation of BDT4.66. 

BRAC resumed cash dividend after 2 years. It declared a BDT0.75 and a 7.5% stock dividend for 2019.

BRAC will organise their yearly earnings call next week, We will provide more updates when the financials become available.