Business Report :
The Bangladesh Bank achieved a record profit in fiscal year 2023-24, fuelled by significant US dollar sales from reserves and a sharp rise in short-term lending to commercial banks. The central bank’s final balance sheet for the year reveals a total profit of Tk40,000 crore, with a net or actual profit of Tk15,100 crore. The figure marks a substantial increase from the previous fiscal year, when net profits stood at Tk10,748 crore.
The surge in profits is largely attributed to Bangladesh Bank’s income from short-term loans provided to various banks, particularly through repos and special repos.
Additionally, the bank capitalised on the sale of US dollars from its foreign exchange reserves, a move that bolstered its earnings.
The financial statement was approved during a meeting of the Bangladesh Bank’s board of directors last Wednesday. At the meeting, it was also decided that central bank officials would receive a bonus equivalent to five and a half months’ basic salary.
In the last fiscal year, the Bangladesh Bank extended a total of Tk32.21 lakh crore in loans to commercial banks, surpassing the cumulative amount lent over the previous seven years.
Moreover, the bank sold $12.79 billion from its foreign exchange reserves to local banks throughout the fiscal year.
Following all expenditures, Tk15,100 crore from the net income was deposited into the government treasury, reflecting the central bank’s robust financial performance.