Company · Initiation · 02 Nov 2026
BRAC Bank plus bKash: sum of the parts puts fair value at BDT 18–73
Fair value BDT 18–73 (base 42) against a price of 67.5. How far ROE falls once bond yields normalise, from 18% in FY2026F toward our 14% sustainable level, decides where in the range value lies.
Updated 2-Nov-2026: added the business model and industry forces; the three lending-rate regimes (9% cap, SMART, market pricing) with BRAC's loan yield, cost of funds and spread next to the Bangladesh Bank policy rate, T-bill yields and system lending and deposit rates; the bond book…
Fair value ৳18–73 · price ৳67.50 (2026-10-29)