Bangladesh Bank's Net Profit Reaches Tk 15,100 Crore in FY 2023-24

Bangladesh Bank has reported a significant net profit of Tk 15,100 crore for the fiscal year 2023-24, marking a strong financial performance. The central bank's total profit for the year was an impressive Tk 40,000 crore, with the majority of the income generated from repos and special repos, which are short-term loans provided to various banks. Additionally, a substantial portion of the bank's earnings came from the sale of foreign currency reserves.

On Wednesday, the board of directors of Bangladesh Bank approved the financial statements for the fiscal year during a meeting chaired by Governor Ahsan H. Manur. The meeting, held in the central bank's boardroom, saw the participation of the organization's directors. One of the key decisions made was the distribution of a dividend to the Central Bank officials, equivalent to five and a half months' basic salary.

Throughout the last financial year, Bangladesh Bank provided loans amounting to Tk 32 lakh 21 thousand crore to commercial banks, surpassing the total loan disbursements of the previous seven years combined. Moreover, the central bank sold $1,279 million from its foreign exchange reserves to the banking sector.

According to the financial statements, after accounting for all expenses, a total of Tk 15,100 crore from the net income of the last fiscal year has been deposited into the government treasury. This represents a substantial increase from the previous fiscal year, where the central bank's net profit was Tk 10,748 crore, with Tk 10,652 crore being transferred to the treasury.

The board of directors also discussed the overall economic situation of the country and the disbursement of agricultural loans during the fiscal year.

For more details on Bangladesh Bank's financial performance and its impact on the national economy, visit Bengali Vogue.