StanChart Bank Bangladesh posts historic Tk3,300cr profit in 2024

Business Report :

Standard Chartered Bank Bangladesh’s profit reached Tk3,300 crore mark in 2024, which is its historic highest for the bank as well as the country’s banking sector, according to a source close to the matter.

According to the bank’s financial statement, its net profit stood at Tk3,300 crore last year, which was 41 per cent higher than the previous year.

The bank managed to reduce borrowing cost and increase interest and investment income which helped it to post record profit, as per the audited accounts.

At the end of the last year, its classified loan stood at Tk836 crore, which was lower from Tk964 crore in the previous year.

Earlier, the British multinational bank logged profits of Tk 2,335 crore in 2023, up from Tk 1,655 crore in 2022, according to its financial reports.