BRAC Bank PLC. Reports & Financial Statements .

Annual Report 2023

BRAC Bank PLC. and its subsidiaries BRAC Bank PLC. and its subsidiaries
Consolidated Balance Sheet Consolidated Balance Sheet
As at 31 December 2023 As at 31 December 2023

2023 2022 2023 2022

Particulars Note Particulars Note
Taka Taka Taka Taka
PROPERTY AND ASSETS Off balance sheet items
Cash 4 39,567,393,814 31,871,548,949
Cash in hand (Including foreign currency) 11,416,440,336 11,918,023,476 Contingent liabilities
Balance with Bangladesh Bank and its agent bank(s) 28,150,953,478 19,953,525,473
(including foreign currency) Acceptances and endorsements 25 39,094,045,121 46,851,368,815
Balance with other banks and financial institutions 5 34,928,586,993 52,950,426,764 Irrevocable letters of credit 25 47,275,839,538 27,451,963,219
Inside Bangladesh 28,059,887,006 47,798,974,745 Letter of guarantees 25.2 23,228,326,078 18,607,062,875
Outside Bangladesh 6,868,699,987 5,151,452,019 Bills for collection 25.3 27,660,068,037 21,612,714,770
137,258,278,773 114,523,109,679
Money at call on short notice 6 3,000,000,000 6,826,376,000
Investments 7 191,144,171,435 116,551,993,858 Other commitments
Government 181,372,719,817 107,319,008,486
Others 9,771,451,618 9,232,985,372 Swap deals with banks and customers 25.4 31,645,244,971 13,070,011,143
Loans and advances 8 520,287,630,605 412,084,750,584 Spot and forward deals with banks and customers 25.4 13,684,188,442 2,074,308,915
Loans, cash credit, overdrafts etc. 285,203,753,699 222,711,877,598 45,329,433,413 15,144,320,058
Small and medium enterprises 232,338,801,248 187,247,111,913
Bills purchased and discounted 2,745,075,658 2,125,761,073 Total off balance sheet items 182,587,712,186 129,667,429,737
Fixed assets including premises, furniture and fixtures 9 13,018,659,233 13,462,730,429
Net asset value (NAV) per share 49 41.36 38.03
Other assets 10 33,816,037,500 20,818,534,774
Non-banking assets 11 10,141,700 11,341,700
Goodwill 12 1,372,563,393 1,372,563,393 The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
Total property and assets 837,145,184,673 655,950,266,450
LIABILITIES AND CAPITAL
Liabilities
Borrowings from other banks, financial institutions and agents 13 41,923,370,755 38,909,562,251

Managing Director and CEO Director Director Chairman

Borrowings from central bank & government agencies 14 61,430,274,796 42,184,501,809
Affordable housing bond 15 4,751,000,000 4,751,000,000
Money at call on short notice 550,000,000 -
Deposits and other accounts 16 588,430,345,153 447,057,995,909 As per our report of same date.
Current accounts and other accounts 232,223,892,907 187,854,787,905
Bills payable 2,716,819,155 1,739,503,614
Savings deposits 79,097,018,100 71,890,957,598
Term deposits 260,827,011,296 182,973,780,522 Sabbir Ahmed FCA, Partner
Other deposits 13,565,603,695 2,598,966,270 Enrolment number: 770
Dhaka, 02 April 2024
Other liabilities 17 53,039,790,814 41,983,017,316 Hoda Vasi Chowdhury & Co
DVC No: 2404020770AS661671
Chartered Accountants
Total liabilities 750,124,781,519 574,886,077,284
Capital and shareholders' equity
Paid up capital 18.2 16,088,292,270 14,965,853,280
Share premium 18.7 3,853,767,032 3,853,767,032
Statutory reserve 19 12,312,787,273 11,148,169,834
Dividend equalization fund 20 355,218,455 355,218,455
Revaluation reserve on govt. securities 21 183,523,000 1,337,245,165
Fair value reserve 70,197,708 78,920,073
Foreign currency translation reserve 23 480,002,180 342,065,555
Surplus in profit and loss account/Retained earnings 24.1 33,197,686,658 29,104,805,732
Total shareholders' equity 66,541,474,577 61,186,045,126
Non-controlling interest 24.2 20,478,928,578 19,878,144,040
Total equity 87,020,403,154 81,064,189,166
Total liabilities and equity 837,145,184,673 655,950,266,450

404 405
BRAC Bank PLC. Reports & Financial Statements . Annual Report 2023

BRAC Bank PLC. and its subsidiaries BRAC Bank PLC. and its subsidiaries
Consolidated Profit and Loss Account Consolidated Profit and Loss Account
For the year ended 31 December 2023 For the year ended 31 December 2023

2023 2022 2023 2022

Particulars Note Particulars Note
Taka Taka Taka Taka
Interest income 27 41,863,962,190 31,370,219,731 Appropriations:
Interest paid on deposits and borrowing etc. 28 21,315,015,978 12,953,873,731 Statutory reserve 1,164,617,439 1,080,212,876
Net interest income 20,548,946,212 18,416,346,000 General reserve - -
Investment income 29 12,686,698,490 7,585,930,404 Dividend 2,244,877,986 2,088,258,589
Commission, exchange and brokerage 30 13,038,891,842 11,522,086,777 Start-up Fund 73,036,047 57,631,736
Other operating income 31 172,424,955 332,351,076 3,482,531,472 3,226,103,201
Total operating income (a) 46,446,961,499 37,856,714,257
Retained surplus 33,197,686,659 29,104,805,727
Salaries and allowances 14,513,613,225 12,519,270,169
Rent, taxes, insurance, electricity etc. 32 818,310,310 695,793,870 Earnings per share (EPS) [previous year's figure restated] 48 4.73 3.75
Legal expenses 48,644,306 65,119,247
Postage, stamps, telecommunication etc. 33 408,781,265 411,000,956
Stationery, printing, advertisement etc. 34 4,185,699,523 3,224,031,540 The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
Chief Executive's salary and fees 35 24,471,250 24,471,250
Directors' fees 36 4,626,142 4,534,312
Auditors' fees 37 7,871,545 6,729,906
Impairment of goodwill 38 - 54,905,518
Depreciation and repair of the bank’s assets 39 6,400,036,242 5,383,326,638
Other expenses 40 4,308,309,734 4,002,904,043
Total operating expenses (b) 30,720,363,541 26,392,087,449
Profit before provisions (c = a-b) 15,726,597,958 11,464,626,808 Managing Director and CEO Director Director Chairman

Share of profit of associates 41 18,630,757 4,860,182

Gain on disposal of associates - 2,049,419 As per our report of same date.
Profit/(loss) before provisions (d) 15,745,228,715 11,471,536,409
Provision for loans/investments:
Loans and advances 2,714,391,075 1,938,266,664
Diminution in value of investments 21,830,293 20,539,430
Sabbir Ahmed FCA, Partner
Off balance sheet items 168,284,002 204,740,420
Enrolment number: 770
Other provisions 17,851,857 25,072,342 Dhaka, 02 April 2024
Hoda Vasi Chowdhury & Co
Total provisions (e) 42 2,922,357,227 2,188,618,856 DVC No: 2404020770AS661671
Chartered Accountants
Total profit/(loss) before taxes (f= d-e) 12,822,871,488 9,282,917,553

Provision for taxation:

Current tax expense 6,374,635,200 4,279,554,349
Deferred tax expense/(income) (1,826,814,281) (1,138,637,890)
Total provision for taxation (g) 43 4,547,820,919 3,140,916,459
Net profit/(loss) after taxation (f-g) 8,275,050,569 6,142,001,094
Attributable to:
Equity holders of BRAC Bank PLC. 7,610,095,780 6,032,726,977
Non controlling interest 24.2.1 664,954,789 109,274,117
8,275,050,569 6,142,001,094
Retained earnings brought forward from previous year 29,104,805,727 26,402,962,532
Net profit attributable to the equity holders of the Bank 7,610,095,780 6,032,726,977
Net effect of all items directly recognised in equity/retained
24.1.1 (34,683,376) (104,780,581)
earnings
Profit available for appropriation 36,680,218,131 32,330,908,928

406 407
 BRAC Bank PLC. and its subsidiaries

408
Consolidated Statement of Changes in Equity
For the year ended 31 December 2023
BRAC Bank PLC.

Amount in Taka

Dividend Revaluation Foreign currency

Paid up Statutory Fair value Retained Non-controlling
Particulars Share premium equalization reserve on Govt. translation Total
capital reserve reserve earnings interest
fund securities reserve
Balance as at 01 January 2023 14,965,853,280 3,853,767,032 11,148,169,834 355,218,455 1,337,245,165 78,920,074 342,065,554 29,104,805,731 19,878,144,040 81,064,189,165
Surplus/(deficit) on account of
- - - - (1,153,722,165) - - - - (1,153,722,165)
revaluation of investments
Sale of shares to strategic investor by
- - - - - (8,722,366) - - (969,152) (9,691,518)
BRAC EPSL
Changes in foreign currency
- - - - - - 137,936,626 - 98,637 138,035,263
translation reserve
Gain on disposal of Non Banking
- - - - - - - 522,000 - 522,000
Asset
Remeasurements of defined benefits
- - - - - - - (19,175,684) (34,478,129) (53,653,813)
liability (assets)
Share issue cost due to issuance of
- - - - - - - (16,029,696) (28,821,607) (44,851,303)
bonus share
Sub total 14,965,853,280 3,853,767,032 11,148,169,834 355,218,455 183,523,000 70,197,708 480,002,180 29,070,122,351 19,813,973,789 79,940,827,628
Net profit for the year - - - - - - - 7,610,095,780 664,954,789 8,275,050,569
Dividend for the year 2022:
Stock dividend 1,122,438,990 - - - - - - (1,122,438,990) - -
Cash dividend - - - - - - - (1,122,438,996) - (1,122,438,996)
Start-up Fund - - - - - - - (73,036,047) - (73,036,047)
Statutory reserve - - 1,164,617,439 - - - - (1,164,617,439) - -
Balance as at 31 December 2023 16,088,292,270 3,853,767,032 12,312,787,273 355,218,455 183,523,000 70,197,708 480,002,180 33,197,686,658 20,478,928,578 87,020,403,154

BRAC Bank PLC. and its subsidiaries

Consolidated Statement of Changes in Equity
For the year ended 31 December 2022

Amount in Taka

Dividend Revaluation Foreign currency

Statutory Fair value Retained Non-controlling
Particulars Paid up capital Share premium equalization reserve on Govt. translation Total
reserve reserve earnings interest
fund securities reserve
Balance as at 01 January 2022 13,921,723,990 3,853,767,032 10,067,956,958 355,218,455 2,490,292,927 78,920,074 16,632,382 26,402,962,536 19,760,616,148 76,948,090,502
Surplus/deficit on account of
- - - - (1,153,047,762) - - - - (1,153,047,762)
revaluation of investments
Changes in foreign currency
- - - - - - 325,433,172 - 1,160,015 326,593,187
translation reserve
Remeasurements of defined benefits
- - - - - - - (102,935,836) 2,059,119 (100,876,717)
liability (assets)
Sub total 13,921,723,990 3,853,767,032 10,067,956,958 355,218,455 1,337,245,165 78,920,074 342,065,554 26,300,026,700 19,763,835,282 76,020,759,210
Net profit for the year - - - - - - - 6,032,726,977 109,274,117 6,142,001,094
Dividend for the year 2021:
Stock dividend 1,044,129,290 - - - - - - (1,044,129,290) - -
Cash dividend - - - - - - - (1,044,129,299) - (1,044,129,299)
Dividend equalization fund - - - - - - - - - -
Adjustment for subsidiaries holdings
- - - - - - - (1,844,745) 5,034,641 3,189,896
change
Start-up Fund - - - - - - - (57,631,736) - (57,631,736)
Statutory reserve - - 1,080,212,876 - - - - (1,080,212,876) - -
Balance as at 31 December 2022 14,965,853,280 3,853,767,032 11,148,169,834 355,218,455 1,337,245,165 78,920,074 342,065,554 29,104,805,731 19,878,144,040 81,064,189,165

The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
409
Reports & Financial Statements . Annual Report 2023
BRAC Bank PLC. Reports & Financial Statements . Annual Report 2023

BRAC Bank PLC. and its subsidiaries

750,124,781,520
87,020,403,152
837,145,184,672

550,000,000
588,430,345,153
1,372,563,393

41,923,370,755
61,430,274,796
4,751,000,000

53,039,790,815
39,567,393,814

3,000,000,000
191,144,171,436
520,287,630,604
13,018,659,233
33,816,037,500
10,141,700
34,928,586,993
Consolidated Cash Flow Statement

Total
For the year ended 31 December 2023

2023 2022
Particulars Note
Taka Taka

95,973,762,627 120,925,627,586 231,668,206,090 246,747,727,901 54,809,457,316

53,580,470,052 (59,396,093,430) 44,944,806,760
123,587,538,477 141,203,071,507 285,248,676,142 187,351,634,470 99,754,264,076

-
-

99,402,033,051 182,871,824,899 195,273,700,242 27,507,650,979

1,372,563,393

5,616,079,254
12,195,000

4,537,679,013 21,673,532,082
-
-
49,662,483,300
23,575,921,044
536,218,478
6,211,473,432
10,141,700
18,385,462,729
A. Cash flows from operating activities
Interest receipts in cash 51,327,498,172 37,027,404,412

Above5
Years
Interest payment (19,250,808,417) (10,349,004,887)
Dividend receipts 182,884,668 294,041,064
Fees and commission receipts in cash 52,084,822,417 44,272,347,942
Recoveries on loans previously written off 844,444,215 809,572,845

-
-
-
-

11,414,967,804 15,456,602,856
21,201,721,515 26,728,745,790
4,751,000,000
-
-
60,665,196,209 26,991,263,254
215,793,986,344 144,575,708,159
- 12,482,440,755
3,302,222,302
Cash payments to employees (14,192,779,239) (11,662,291,298)
Cash payments to suppliers (38,724,756,653) (34,548,797,836)

Years
1-5
Income tax paid (5,623,973,023) (10,349,688,767)
Receipts from other operating activities 45 1,673,704,264 974,319,835
Payment for other operating activities 46 (6,101,211,508) (5,719,985,459)
Operating cash flow before changes in operating assets 22,219,824,896 10,747,917,851

-
-
-
-

16,179,691,872
-

8,298,500,709
490,992,880
and liabilities (i)
Increase/(decrease) in operating assets and liabilities

Months
3-12
Loans and advances (108,143,716,294) (90,450,491,062)
Other assets (7,362,398,987) (489,446,171)
Borrowings from other banks and financial institutions 23,066,183,302 33,868,200,314
Proceeds from Issuance of affordable housing bond - 4,751,000,000

20,277,443,921
-
-

6,800,558,877
-

-
-

8,108,091,844
6,614,943,813
-

96,149,851
18,292,597,948

33,606,348,367
89,207,975,342
Deposits from customers 139,740,992,457 80,144,248,765
Other liabilities (3,949,721,724) (946,110,206)

Months
Cash utilised in operating assets and liabilities (ii) 43,351,338,754 26,877,401,640

1-3
Net cash flows from operating activities (i+ii) (a) 65,571,163,650 37,625,319,491
B. Cash flows from investing activities
Treasury bills (98,452,930,349) 1,155,677,121

27,613,775,849
-
550,000,000
83,375,135,981
3,848,328,971
-

1,327,628,997
6,872,668,678
15,907,691,206
21,181,931,085

16,144,996,166

20,218,880,305
47,134,039,715
3,000,000,000
Treasury bonds 23,257,735,239 (48,629,090,534)
Investment in shares (1,026,840,637) (615,054,764)

Month
Sale/ (Investment) in bonds 490,000,000 410,000,000

0-1
(Asset and Liability Maturity Analysis)
Acquisition of fixed assets (3,847,205,997) (3,541,043,054)

Thenotes1to51.5andannexuresAtoJformanintegralpartofthesefinancialstatements.
Disposal of fixed assets 54,889,381 17,736,063
Net cash used in investing activities (b) (79,524,352,363) (51,201,775,168)

Consolidated Liquidity Statement

C. Cash flows from financing activities
Proceeds from issue of convertible preference shares (44,851,300) -
Proceeds from issue of ordinary shares 112,140,000
Cash dividend paid (1,118,549,337) (1,042,217,221)
Net cash flows from financing activities ( c) (1,163,400,637) (930,077,221)
Net increase/(decrease) in cash (a+b+c) (15,116,589,350) (14,506,532,898)

Borrowingsfromotherbanks,financialinstitutions&agents
Cash and cash equivalents at the beginning of the year 91,649,879,612 105,222,018,140

Fixedassetsincludingpremises,furnitureandfixtures

Borrowingsfromcentralbank&governmentagencies
BRAC Bank PLC. and its subsidiaries
Effect of exchange rate changes on cash and cash 964,635,545 934,394,370
equivalent

CashinhandandBalancewithBangladeshBank
Cash and cash equivalents at the end of the year 44 77,497,925,807 91,649,879,612

institutions(includingforeigncurrencies)
Cash and cash equivalents at the end of the year:

Balancewithotherbanksandfinancial
Cash in hand (including foreign currency) 11,416,440,336 11,918,023,476
Balance with Bangladesh Bank and its agents bank(s) 28,150,953,478 19,953,525,473

Moneyatcallandshortnotice
Moneyatcallandshortnotice
(including foreign currency)

Depositsandotheraccounts
As at 31 December 2023
Balance with other banks and financial institutions 34,928,586,993 52,950,426,764

Affordablehousingbond
Money at call on short notice 3,000,000,000 6,826,376,000

Loansandadvances

Non-bankingassets
Prize Bond 1,945,000 1,527,900

NetLiquidityGap
TotalLiabilities
77,497,925,807 91,649,879,612

Otherliabilities
Investments

TotalAssets
Otherassets
Particulars
Net operating cash flow per share (NOCFPS) 50 40.76 23.39

Liabilities
Goodwill
Assets
The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.

410 411
BRAC Bank PLC. Reports & Financial Statements . Annual Report 2023

BRAC Bank PLC. BRAC Bank PLC.

Balance Sheet Balance Sheet
As at 31 December 2023 As at 31 December 2023

2023 2022 2023 2022

Particulars Note Particulars Note
Taka Taka Taka Taka
PROPERTY AND ASSETS Off balance sheet items
Cash 4 39,349,037,573 31,776,214,097 Contingent liabilities
Cash in hand (Including foreign currency) 11,198,084,095 11,822,688,624 Acceptances and endorsements 25 39,094,045,121 46,851,368,815
Balance with Bangladesh Bank and its agent bank(s) 28,150,953,478 19,953,525,473 Irrevocable letters of credit 25 47,275,839,538 27,451,963,219
(Including foreign currency) Letter of guarantees 25.2 23,228,326,078 18,607,062,875
Bills for collection 25.3 27,660,068,037 21,612,714,770
Balance with other banks and financial institutions 5 6,955,076,500 16,255,534,724 137,258,278,773 114,523,109,679
Inside Bangladesh 211,111,723 11,127,982,840 Other Commitments
Outside Bangladesh 6,743,964,777 5,127,551,884
Money at call on short notice 6 3,000,000,000 6,826,376,000 Swap deals with banks and customers 25.4 31,645,244,971 13,070,011,143
Investments 7 115,657,479,057 64,287,682,264 Spot and forward deals with banks and customers 25.4 13,684,188,442 2,074,308,915
Government 107,556,755,200 56,637,669,673 45,329,433,413 15,144,320,058
Others 8,100,723,857 7,650,012,591
Total off balance sheet items 182,587,712,186 129,667,429,737
Loans and advances 8 519,451,995,812 410,676,406,960
Loans, cash credit, overdrafts etc. 284,368,118,906 221,303,533,974 Net asset value (NAV) per share 49 39.64 36.31
Small and medium enterprises 232,338,801,248 187,247,111,913
Bills purchased & discounted 2,745,075,658 2,125,761,073
Fixed assets including premises, furniture and fixtures 9 7,627,179,153 7,779,346,693 The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
Other assets 10 34,672,366,065 25,658,493,269
Non-banking assets 11 10,141,700 11,341,700
Total property and assets 726,723,275,859 563,271,395,707
LIABILITIES AND CAPITAL
Liabilities
Borrowings from other banks, financial institutions & agents 13 41,716,714,285 38,685,377,271
Borrowings from central bank & government agencies 14 61,430,274,796 42,184,501,809 Managing Director and CEO Director Director Chairman
Affordable housing bond 15 4,751,000,000 4,751,000,000
Money at call on short notice 550,000,000 -
As per our report of same date.
Deposits and other accounts 16 513,909,000,086 384,466,775,242
Current accounts & other accounts 157,581,037,835 123,148,401,399
Bills payable 2,716,819,155 1,739,503,614
Savings deposits 79,097,018,100 71,890,957,598
Term deposits 260,948,521,301 185,088,946,361
Other deposits 13,565,603,695 2,598,966,270
Other liabilities 17 40,584,257,402 34,765,631,817 Sabbir Ahmed FCA, Partner
Enrolment number: 770
Total Liabilities 662,941,246,569 504,853,286,139 Dhaka, 02 April 2024
Hoda Vasi Chowdhury & Co
Capital and shareholders' equity DVC No: 2404020770AS661671
Chartered Accountants
Paid up capital 18.2 16,088,292,270 14,965,853,280
Share premium 18.7 3,853,767,032 3,853,767,032
Statutory reserve 19 12,234,525,238 11,112,086,248
Dividend equalization fund 20 355,218,455 355,218,455
Revaluation reserve on govt. securities 21 183,523,000 1,337,245,165
Fair value gain/(loss) on equity investment 22 7,944,001,202 7,671,468,018
Foreign currency translation reserve 23 459,993,992 323,536,914
Surplus in profit and loss account/Retained earnings 24 22,662,708,101 18,798,934,456
Total shareholders' equity 63,782,029,290 58,418,109,568

Total liabilities and shareholders' equity 726,723,275,859 563,271,395,707

412 413
BRAC Bank PLC. Reports & Financial Statements . Annual Report 2023

BRAC Bank PLC. BRAC Bank PLC.

Profit and Loss Account Profit and Loss Account
For the year ended 31 December 2023 For the year ended 31 December 2023

2023 2022 2023 2022

Particulars Note Particulars Note
Taka Taka Taka Taka
Interest income 27 39,085,506,990 28,462,101,118 Appropriations:
Interest paid on deposits and borrowing etc. 28 21,367,306,733 13,227,359,203 Statutory reserve 1,122,438,990 1,044,129,290
Net interest income 17,718,200,257 15,234,741,915 General reserve - -
Dividend 2,244,877,986 2,088,258,589
Investment income 29 7,575,677,526 5,184,549,425 Start-up Fund 73,036,047 57,631,736
Commission, exchange and brokerage 30 6,171,836,080 5,884,319,986 3,440,353,023 3,190,019,615
Other operating income 31 144,756,155 267,298,708 Retained Surplus 22,662,708,101 18,798,934,456
Total operating income (a) 31,610,470,017 26,570,910,034
Earnings per share (EPS) [previous year's figure restated] 48 4.54 3.58
Salaries and allowances 10,129,813,829 8,626,660,982
Rent, taxes, insurance, electricity etc. 32 576,282,623 507,158,511
Legal expenses 19,194,962 30,384,953
The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
Postage, stamps, telecommunication etc. 33 297,625,871 308,505,338
Stationery, printing, advertisement etc. 34 602,519,872 396,662,334
Chief Executive's salary and fees 35 24,471,250 24,471,250
Directors' fees 36 2,138,400 2,552,000
Auditors' fees 37 2,070,000 1,840,000
Depreciation and repair of the bank’s assets 39 2,483,790,344 2,304,559,343 Managing Director and CEO Director Director Chairman
Other expenses 40 3,542,298,152 3,238,866,402
Total operating expenses (b) 17,680,205,302 15,441,661,113
As per our report of same date.
Profit before provisions (c = a-b) 13,930,264,715 11,129,248,921

Provision for loans/Investments:

Loans and advances 2,714,391,075 1,945,536,063
Diminution in value of investments 21,830,293 20,539,430 Sabbir Ahmed FCA, Partner
Enrolment number: 770
Off balance sheet items 168,284,002 204,740,420 Dhaka, 02 April 2024
Hoda Vasi Chowdhury & Co
Other provisions 13,008,797 19,572,571 DVC No: 2404020770AS661671
Chartered Accountants
Total provisions (d) 42 2,917,514,167 2,190,388,484
Total profit/(loss) before taxes (e= c-d) 11,012,750,548 8,938,860,437

Provision for taxation:

Current tax expense 4,641,475,773 3,765,699,754
Deferred tax expense/(income) (932,329,894) (590,012,891)
Total provision for taxation (f) 43 3,709,145,880 3,175,686,863
Net profit after taxation (e-f) 7,303,604,668 5,763,173,574
Retained earnings brought forward from previous year 18,798,934,456 16,329,861,552
Net effect of all items directly recognised in equity/retained 522,000 (104,081,055)
earnings
Profit available for appropriation 26,103,061,124 21,988,954,071

414 415
 BRAC Bank PLC.

416
Statement of Changes in Equity
For the year ended 31 December 2023
BRAC Bank PLC.

Amount in Taka

Foreign currency Fair value gain/

Statutory Dividend Revaluation reserve Retained
Particulars Paid up capital Share premium translation (loss) on equity Total
reserve equalization fund on Govt. securities earnings
reserve investment*
Balance as at 01 January 2023 14,965,853,280 3,853,767,032 11,112,086,248 355,218,455 1,337,245,165 323,536,914 7,671,468,018 18,798,934,456 58,418,109,568
Surplus/deficit on account of revaluation
- - - - (1,153,722,165) - - - (1,153,722,165)
of investments
Changes in translation reserve - - - - - 136,457,078 - - 136,457,078
Changes in OCI reserve for investment in
- - - - - - 272,533,184 - 272,533,184
subsidiaries and associates
Gain on disposal of NBA 522,000 522,000
Sub total 14,965,853,280 3,853,767,032 11,112,086,248 355,218,455 183,523,000 459,993,992 7,944,001,202 18,799,456,456 57,673,899,665
Net profit for the year - - - - - - 7,303,604,668 7,303,604,668
Dividends for the year 2022:
Stock dividend 1,122,438,990 - - - - - - (1,122,438,990) -
Cash dividend - - - - - - - (1,122,438,996) (1,122,438,996)
Start-up Fund - - - - - - - (73,036,047) (73,036,047)
Statutory reserve - - 1,122,438,990 - - - - (1,122,438,990) -
Balance as at 31 December 2023 16,088,292,270 3,853,767,032 12,234,525,238 355,218,455 183,523,000 459,993,992 7,944,001,202 22,662,708,101 63,782,029,290

BRAC Bank PLC.

Statement of Changes in Equity
For the year ended 31 December 2022

Amount in Taka

Foreign currency Fair value gain/

Statutory Dividend Revaluation reserve Retained
Particulars Paid up capital Share premium translation (loss) on equity Total
reserve equalization fund on Govt. securities earnings
reserve investment*
Balance as at 01 January 2022 13,921,723,990 3,853,767,032 10,067,956,958 355,218,455 2,490,292,927 15,729,653 7,384,920,564 16,329,861,552 54,419,471,131
Changes in accounting policy - - - - - - - -
Restated balance 13,921,723,990 3,853,767,032 10,067,956,958 355,218,455 2,490,292,927 15,729,653 7,384,920,564 16,329,861,552 54,419,471,131
Surplus/deficit on account of revaluation
- - - - (1,153,047,762) - - - (1,153,047,762)
of investments
Changes in translation reserve - - - - - 307,807,261 - - 307,807,261
Changes in OCI reserve for investment
- - - - - - 286,547,454 - 286,547,454
in subsidiaries and associates
Actuarial gain/(loss) - - - - - - - (104,081,055) (104,081,055)
Sub total 13,921,723,990 3,853,767,032 10,067,956,958 355,218,455 1,337,245,165 323,536,914 7,671,468,018 16,225,780,497 53,756,697,029
Net profit for the year - - - - - - 5,763,173,574 5,763,173,574
Dividends for the year 2021:
Stock dividend 1,044,129,290 - - - - - - (1,044,129,290) -
Cash dividend - - - - - - - (1,044,129,299) (1,044,129,299)
Start-up Fund - - - - - - - (57,631,736) (57,631,736)
Statutory reserve - - 1,044,129,290 - - - - (1,044,129,290) -
Balance as at 31 December 2022 14,965,853,280 3,853,767,032 11,112,086,248 355,218,455 1,337,245,165 323,536,914 7,671,468,018 18,798,934,456 58,418,109,568

* Detail of fair value gain/(loss) on equity investments has been provided at Note-10 and Note-22.

The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
417
Reports & Financial Statements . Annual Report 2023
BRAC Bank PLC. Reports & Financial Statements . Annual Report 2023

BRAC Bank PLC.

726,723,275,859

662,941,246,570
63,782,029,290
550,000,000
3,000,000,000
115,657,479,058
519,451,995,811
7,627,179,153
34,672,366,065
10,141,700

41,716,714,285
61,430,274,796
4,751,000,000

513,909,000,086
40,584,257,403
39,349,037,573
6,955,076,500
Cash Flow Statement

Total
For the year ended 31 December 2023

2023 2022
Particulars Note
Taka Taka

104,543,876,642 114,068,138,116 266,877,563,462 170,058,595,824 71,175,101,816

89,122,239,488 106,100,881,402 214,875,080,776 222,558,523,348 30,284,521,556

52,002,482,685 (52,499,927,524) 40,890,580,261
-
-
-
-

8,957,745,281
23,575,921,044
530,184,827
19,715,646,235
10,141,700

5,600,540,000
12,195,000

1,597,099,821
4,226,604,046 23,074,686,734
18,385,462,729
A Cash flows from operating activities
Interest receipts in cash 44,346,165,175 31,508,895,124

Above5
Years
Interest payment (19,298,835,439) (10,508,367,195)
Dividend receipts 133,269,026 232,498,460
Fees and commission receipts in cash 6,171,836,080 5,884,319,987
Recoveries on loans previously written off 844,444,215 809,572,845

-
-
-
-

86,168,317,825 178,479,195,563 171,395,570,656

53,126,692,126 17,453,193,259

943,081,687
213,708,219,298 144,565,326,552
7,096,994,326

10,371,428,572 15,456,602,856
21,201,721,515 26,728,745,790
4,751,000,000
Cash payments to employees (9,983,842,876) (8,135,922,799)
Cash payments to suppliers (881,509,543) (680,215,058)

Years
Income tax paid (4,559,230,752) (4,642,899,233)

1-5
Receipts from other operating activities 45 1,659,318,461 1,033,184,962
Payment for other operating activities 46 (5,779,948,840) (5,385,487,007)

-
-
-

-
-
-

42,652,037

4,822,735,127
Operating cash flow before changes in operating assets and liabilities (i) 12,651,665,507 10,115,580,086
Increase/decrease in operating assets and liabilities

Months
3-12
Loans and advances (108,775,588,852) (89,464,175,973)
Other assets (7,183,833,762) (524,779,722)
Borrowings from other banks and financial institutions 22,827,110,001 33,559,411,231
Proceeds from Issuance of affordable housing bond - 4,751,000,000
Deposits from customers 127,810,868,058 67,558,949,157

7,967,256,714
-
-
-

-
-

24,717,179,561
89,207,975,342

42,983,213

7,700,000,000
6,614,943,813

5,617,619,763
100,000,000
Other liabilities 1,550,391,974 (996,961,563)

Months
Cash utilised in operating assets and liabilities (ii) 36,228,947,420 14,883,443,130

1-3
Net cash flows from operating activities (i+ii) (a) 48,880,612,927 24,999,023,216
B. Cash flows from investing activities
Treasury bills (81,394,427,080) (422,721,002)
Treasury bonds 29,321,619,388 (13,316,198,255)

15,421,637,154
-

-
2,588,142,857
6,872,668,678

550,000,000
76,268,816,220
11,402,668,830
48,394,553,575

13,928,002,893

2,842,611,733
3,000,000,000
20,963,574,844
6,855,076,500

The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.
Sale/ (Investment) in shares (940,711,266) (520,995,927)

Month
Sale/ (Investment) in bonds 490,000,000 410,000,000

0-1
(Asset and Liability Maturity Analysis)
Acquisition of fixed assets (1,794,726,782) (2,118,856,350)
Disposal of fixed assets 47,846,284 17,653,002
Net cash used in investing activities (b) (54,270,399,456) (15,951,118,532)
C. Cash flows from financing activities
Dividend paid (1,118,549,337) (1,042,217,221)

Balance with other banks and financial institutions (including foreign

Net cash flows from financing activities ( c) (1,118,549,337) (1,042,217,221)
Net increase/decrease in cash (a+b+c) (6,508,335,866) 8,005,687,463
Cash and cash equivalents at the beginning of year 54,859,652,721 46,059,175,412

Borrowings from other banks, financial institutions & agents

Effect of exchange rate changes on cash and cash equivalent 954,742,218 794,789,846
Cash and cash equivalents at the end of the year 44 49,306,059,073 54,859,652,721

Fixed assets including premises, furniture and fixtures

Borrowings from central bank & government agencies

Cash and cash equivalents at the end of the year:

Cash in hand and balance with Bangladesh Bank

Cash in hand (including foreign currency) 11,198,084,095 11,822,688,624
Balance with Bangladesh Bank and its agents bank(s) 28,150,953,478 19,953,525,473

Liquidity Statement
(including foreign currency)
Balance with other banks and financial institutions 6,955,076,500 16,255,534,724
Money at call on short notice 3,000,000,000 6,826,376,000
Prize Bond 1,945,000 1,527,900

Money at call and short notice

Money at call and short notice
49,306,059,073 54,859,652,721

Deposits and other accounts

Net operating cash flow per share (NOCFPS) 50 30.38 15.54

Affordable housing bond

As at 31 December 2023
BRAC Bank PLC.
The notes 1 to 51.5 and annexures A to J form an integral part of these financial statements.

Loans and advances

Non-banking assets
The reconciliation of net profit with cash flows from operating activities (standalone basis) has been presented at

Net Liquidity Gap

Total Liabilities
note - 47.

Other liabilities
Total Assets
Other assets
Investments
Particulars

currencies)

Liabilities
Assets

418 419