MIRA INFORM REPORT

 

 

Report Date :

29.08.2011

 

IDENTIFICATION DETAILS

 

Name :

ISLAMI BANK BANGLADESH LIMITED

 

 

Registered Office :

Islami Bank Tower, 40, Dilkusha C/A, Dhaka, 1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

13.03.1993

 

 

Legal Form :

Public Independent

 

 

Line of Business :

Provides Banking Services

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

ISLAMI BANK BANGLADESH LIMITED

 

 

Islami Bank Tower, 40, Dilkusha C/A, Dhaka, 1000, Bangladesh

 

Tel: 880-2-9563040

Fax:880-2-9564532

www.islamibankbd.com

 

Employees:                   9,622

Company Type:             Public Independent

Traded:                         Dhaka Stock Exchange: ISLAMIBANK

Incorporation Date:         13-Mar-1993

Auditor:                         Howladar Yunus & Co.

 

Financials in :                USD (mil.)

 

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Bangladesh Taka

Annual Sales:                433.7  1

Net Income:                   64.4

Total Assets:                 4,693.7  2

Market Value:                528.7 (04-Aug-2011)

 

 

Business Description

 

Islami Bank Bangladesh Limited is a commercial bank. The Company provides banking services. The Company conducts its business on the Shari’ah principles of Mudaraba, Musharaka, Bai- Murabaha, Bai-Muajjal, Hire Purchase under Shirkatul Melk, Bai-Salam and Bai-as-Sarf. As of December 31, 2009, the Company carries out its business activities through its head office in Dhaka having 11 zonal offices, 211 branches and 20 small and medium-sized enterprise (SME) service centers in Bangladesh. The Company’s deposit products include Mudaraba Savings Deposits, Mudaraba Term Deposits and Other Mudaraba Deposits. The Company provides various services, such as Al-Wadeeah current account, hire purchase under Shirkatul Meelk, automated teller machine facilities, locker service, foreign exchange business, Mudaraba term deposit receipt, Musharaka, Mudaraba Waqf cash deposit account and small investment business scheme. For the nine months ended 30 September 2010, ISLAMI BANK BANGLADESH Ltd. revenues increased 19% to BGD17.88B. Net income increased 42% to BGD3.53B Revenue reflects an increase in investment income. Net income reflects an decrease in postage, stamps & telecommunication expenses, lower directors fees & expenses, decrease in chief executive's salary & expenses,and lower shariah council's fees & expenses.

 

 

Industry

 

Industry                         Commercial Banks

ANZSIC 2006:                6221 - Banking

NACE 2002:                  6512 - Other monetary intermediation

NAICS 2002:                 52211 - Commercial Banking UK SIC 2003: 65121 - Banks

US SIC 1987:                6021 - National Commercial Banks

 

 

Key Executives

 

 

Name

Title

Janab Yousif Abdullah Al-Rajhi

Vice Chairman

Mustafa Anwar

Vice Chairman

Janab Mohammad Abdullah Al-Jalahma

Director

Janab Md Humayan Kabir

Director

Janab W Ahmed

Director

 

 

News

 

TitleDate                                                                       New MD of Exim Bank


Financial Express (India) (247 Words)26-Aug-2011           Win 200 Mobile Phones This Month With Xpress Money


Associated Press (503 Words)25-Aug-2011                     Banks cut loans to spinners hit by volatile cotton prices


Financial Express (India) (633 Words)19-Aug-2011           IBBL introduces three new products for NRBs


Financial Express (India) (323 Words)19-Aug-2011           Discussion and Ifter mahfil held


New Nation (Bangladesh) (135 Words)17-Aug-2011

 

 

Financial Summary

 

As of 30-Jun-2011

 

Key Ratios

Company

Industry

Debt to Equity (MRQ)

0.11

 

Net Profit Margin (TTM) %

29.33

23.51

Return on Assets (TTM) %

1.57

0.88

Return on Equity (TTM) %

21.70

7.73

 

 

Stock Snapshot

 

Traded:            Dhaka Stock Exchange: ISLAMIBANK

 

As of 4-Aug-2011     Financials in: BDT

 

ecent Price

532.50

 

EPS

58.65

52 Week High

651.11

 

Price/Sales

2.51

52 Week Low

403.70

 

Dividend Rate

6.17

Avg. Volume (mil)

0.13

 

Price/Earnings

8.03

Market Value (mil)

39,474.86

 

Price/Book

1.68

 

 

 

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

-3.05%

 

13 Week

13.96%

 

52 Week

25.40%

 

Year to Date

-10.20%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = BDT 69.60265

2 - Balance Sheet Item Exchange Rate: USD 1 = BDT 70.475

 

Quote Symbol - Exchange

ISLAMIBANK - Dhaka Stock Exchange

Sales BDT(mil):

30,183.8

Assets BDT(mil):

330,785.2

Employees:

9,622

Fiscal Year End:

31-Dec-2010

 

Industry:

Commercial Banks

 

 

Corporate Overview

 

Incorporation Date:

13-Mar-1993

Company Type:

Public Independent

Quoted Status:

Quoted

 

Director:

Janab W Ahmed

 

 

Contents

 

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Key Corporate Relationships

 

 

Industry Codes

 

 

ANZSIC 2006 Codes:

6221     -           Banking

 

NACE 2002 Codes:

6512     -           Other monetary intermediation

 

NAICS 2002 Codes:

52211   -           Commercial Banking

 

US SIC 1987:

6021     -           National Commercial Banks

 

UK SIC 2003:

65121   -           Banks

 

 

Business Description

 

Islami Bank Bangladesh Limited is a commercial bank. The Company provides banking services. The Company conducts its business on the Shari’ah principles of Mudaraba, Musharaka, Bai- Murabaha, Bai-Muajjal, Hire Purchase under Shirkatul Melk, Bai-Salam and Bai-as-Sarf. As of December 31, 2009, the Company carries out its business activities through its head office in Dhaka having 11 zonal offices, 211 branches and 20 small and medium-sized enterprise (SME) service centers in Bangladesh. The Company’s deposit products include Mudaraba Savings Deposits, Mudaraba Term Deposits and Other Mudaraba Deposits. The Company provides various services, such as Al-Wadeeah current account, hire purchase under Shirkatul Meelk, automated teller machine facilities, locker service, foreign exchange business, Mudaraba term deposit receipt, Musharaka, Mudaraba Waqf cash deposit account and small investment business scheme. For the nine months ended 30 September 2010, ISLAMI BANK BANGLADESH Ltd. revenues increased 19% to BGD17.88B. Net income increased 42% to BGD3.53B Revenue reflects an increase in investment income. Net income reflects an decrease in postage, stamps & telecommunication expenses, lower directors fees & expenses, decrease in chief executive's salary & expenses,and lower shariah council's fees & expenses.

 

 

More Business Descriptions

 

Provision of interest-free commercial banking services based on Islamic Shariah

 

 

Financial Data

 

Financials in:

BDT(mil)

Revenue:

30,183.8

Net Income:

4,485.5

Assets:

330,785.2

Long Term Debt:

3,000.0

 

Total Liabilities:

307,268.9

 

Date of Financial Data:

31-Dec-2010

 

 

1 Year Growth

18.8%

31.8%

18.9%

 

 

Market Data

 

Quote Symbol:

ISLAMIBANK

Exchange:

Dhaka Stock Exchange

Currency:

BDT

Stock Price:

532.5

Stock Price Date:

08-04-2011

52 Week Price Change %:

25.4

Market Value (mil):

39,474,860.0

SEDOL:

6459833

ISIN:

BD0104ISBNK0

 

Equity and Dept Distribution:

04/2010, Scrip Issue, 2 new shares for every 10 shares held

 

 

Shareholders

 

 

Major Shareholders

Al Rajhi Co For Ind & Trade (9.94%); HE Md Abdul Aziz Al-Rajhi (7.18%); Islamic Development Bank (7.5%); HE Abdullah A Al-Rajhi (7.18%)

 

 

Key Corporate Relationships

 

Auditor:

Howladar Yunus & Co.

 

Auditor:

Howladar Yunus & Co., Howladar, Yunus & Co, Aziz Halim Khair Choudhury

 

 

Board of Directors

 

 

Name

Title

Function

Janab Yousif Abdullah Al-Rajhi

Vice Chairman

Chairman

Mustafa Anwar

Vice Chairman

Chairman

Abu Nasser Muhammad Abduz Zaher

Chairman

Chairman

Janab Mohammad Abdullah Al-Jalahma

Director

Director/Board Member

Janab Md Humayan Kabir

Director

Director/Board Member

Muhammad Dawood Khan

Director

Director/Board Member

Abdulhameed Fouad Khateeb

Director

Director/Board Member

Janab Md Abdul Mannan

Director

Director/Board Member

Janab Hafizul Islam Mian

Director

Director/Board Member

Janab A T M Ataur Rahman

Director

Director/Board Member

Md Shafiqur Rahman

Director

Director/Board Member

Janab Md Abdus Salam

Director

Director/Board Member

 

 

Press Release

 

New MD of Exim Bank


Financial Express (India): 26 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 26 -- M Fariduddin Ahmed

 

FE Report

Renowned banker M Fariduddin Ahmed has joined Exim Bank as the Managing Director. Prior to his new assignment, he was the Head of Islamic Banking Division of AB Bank Ltd.

 

Mr Ahmed started his banking career in Sonali Bank. He served in that Bank as Branch Manager, Faculty Member of Staff College, Head of Electronic Data-processing Department and other departments of that Bank for several years.

 

Later on, he joined Islami Bank Bangladesh Limited on the date of its launching on August 30,1983 and played a key role in the development of Islamic banking systems & procedures. He also contributed a lot in devising & introducing Islamic banking accounting systems & the principles of distribution of profit to various participating fund. He also edited the Investment Manual for financing under Islamic principles.

He has attended various training programs, seminar, symposium & workshop on Islamic banking and economics at home and abroad. For this he visited USA, UK, KSA, China, Hong Kong, Thailand, Macau, Iran, UAE, Qatar, Bahrain, Pakistan, Singapore, Indonesia, India, Nigeria, Switzerland, France, Germany, Japan and other parts of the world.

 

M. Fariduddin Ahmad was born on July 25, 1947. He hails from village Thakurmallik under Babuganj, Barisal and is the eldest son of Late Mafizur Rahman. Published by HT Syndication with permission from The Financial Express. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

Win 200 Mobile Phones This Month With Xpress Money

Associated Press: 25 August 2011

[What follows is the full text of the news story.]

 

1/8STK 3/8

1/8IN 3/8 FIN CSE TLS

1/8SU 3/8 PDT

TO BUSINESS, AND TECHNOLOGY EDITORS:

Win 200 Mobile Phones This Month With Xpress Money

ABU DHABI, UAE, August 25, 2011 /PRNewswire/ --

Xpress Money, the world's most trusted instant money transfer brand has lived up to their tag line - Bringing Homes Closer. The month of Ramadan is a time when families come together at a time of fasting and prayer and Xpress Money along with IBBL Bank has given the people of Bangladesh living in the GCC, a way to stay connected to their families back home during this auspicious time.

 

'Ramadhan Mobile Mela' is a month long promotion where people who receive money sent to them from the GCC in any IBBL bank branch stand to win 200 mobile phones. 4 weekly draws will be conducted at the IBBL bank branches and 50 mobile phones will be distributed every week to lucky winners.

 

It's an exciting time for everybody receiving money in Bangladesh during this month. All remittances sent during the promotion period of 1st to 31stAugust 2011 stand a chance to walk away with a mobile phone.

 

Vice President, Sudhesh Giriyan said, "After garment exports money remittance is a key source of foreign exchange for Bangladesh and a source that their economy has come to depend on. With increasing job opportunities for Bangladeshis across the globe, money remittance to Bangladesh is on a steady rise. Over the years Xpress Money has  conducted keen studies on customer trends and behavior in this region, acquiring valuable insight on their needs based on which, we are pleased to offer this lucrative promotion in the GCC to Bangladesh corridor along with IBBL."

 

About IBBL Bank

Establishing in 1983, Islami Bank Bangladesh Limited (IBBL) is the first of its kind in the South East Asia. �It is committed to conduct all banking and investment activities on the basis of an interest-free profit-loss sharing system. Establishing this banking method has gone a long way towards realizing a long cherished dream of the people of Bangladesh for doing their banking transactions in line with the tenets of Islam.

 

About Xpress Money

Xpress Money is a UK based instant money transfer brand with a thriving presence in more than 95 countries in 5 continents across 85,000 agent locations worldwide. Xpress Money is an FSA licensed Authorized Payment Institution (API) that has come to be known as the fastest growing instant money transfer brand worldwide. Xpress Money provides its customers an instant, safe & affordable way to transfer money worldwide. For more information,

visit http://www.xpressmoney.com

SOURCE Xpress Money

-0- 08/25/2011

/CONTACT: Lahcen Aterta 5/8 Manager - Media Relations - XPRESS MONEY services Ltd 5/8 P.O. Box 170, Abu Dhabi, UAE? - Vision Downtown, Mezzanine Floor, Old Souk, Hamdan Street - Tel: +971-2-4945480 5/8 Fax: +971-2-6323893 - aterta.lahcen@uaeexchange.com

/ CO: Xpress Money

ST: Middle East

IN: FIN CSE TLS

SU: PDT

PRN

-- UKTH869 --

0000 08/25/201106:13:00 EDThttp://www.prnewswire.com

 

 

Banks cut loans to spinners hit by volatile cotton prices

Financial Express (India): 19 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 19 -- FHM Humayan Kabir

 

Commercial banks have restricted credit flow to the spinning mills as the once booming industry is now struggling to stay above water due to volatile cotton prices and an acute energy crisis, officials said Thursday.

Bankers said they are not going for any further exposure of their credit fund to the sector as they are not sure whether the spinning mills will be in a position to repay the loans in time - a fear stemming from the spinners' recent heavy losses.

 

Spinners who turn cotton into yarn bought the crop when the global market was at its peak. They built up a big inventory of yarn worth Tk120 billion as garment makers prefer cheap Indian yarn over costly local production.

Islami Bank Bangladesh Limited (IBBL), a leading investor to the country's textile sector, said its lending to the spinning industries came down sharply in recent months.

 

"We've limited our exposure to the spinning sector and are moving slowly," managing director of the IBBL Abdul Mannan said, adding that during the boom time the bank's credit helped build 53 spinning mills.

 

"The sector has been facing bad time since late 2008 when it was first hit by energy crisis. But in recent months volatile cotton prices in the international market have affected almost every spinner in the country," he said.

 

Islami Bank which is the country's largest institutional lender in the private sector, has lent nearly Tk 70 billion fund to the primary textile industry, which is the main supplier of raw materials to the country's 4,500 garment plants.

 

"During this time of the year we would have a lot of loan proposals from the spinners. But as they are passing through the worst time of their business, we hardly get new proposals," said Mr Mannan.

 

Managing Director of Agrani Bank - the country's third largest state-owned commercial bank - Syed Abdul Hamid said their bank has also "stopped funding to the spinning sector over the last one and a half years".

 

"We are not in a position to lend the country's spinning sector at this moment," he said, adding fears over the spinners' financial health and the bank's somewhat mismatched credit-deposit ratio led to the cut in fresh lending.

A top banker at the Mercantile Bank Ltd. said they have also lowered their lending to the spinning sector as their working capital has been stuck-up due to non-payment by the hard-hit spinners.

 

Jahangir Alamin, president of Bangladesh Textile Mills Association (BTMA), said most spinners are bleeding for over six months and they are struggling to repay the existing loans to the banks.

 

"In the past, the banks used to prod us to get fresh loans for expansion. But these days they discourage us to expand factory or set up new yarn or fabric manufacturing units," he said.

 

"Some spinners have even stopped taking working capital as they don't have any order to process," he said.

 

Abdul Matin Chowdhury, former chairman of the BTMA said Indian spinners have cashed in on the latest woes of the Bangladeshi companies as they dumped yarn at a cut-throat price to the local garment makers.

 

"My annual turnover was Tk3.0 billion last year. In the past two months my businesses have declined by about 75 per cent," Mr. Chowdhury, managing director of the Malek Spinning, added.

 

The former BTMA chief is worried over the future of the local spinning industry saying yarn production has declined by around 50 per cent in the last six months.

"Under such a wretched conditions, who is going to lend us money?", he observed. Published by HT Syndication with permission from The Financial Express. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

 

IBBL introduces three new products for NRBs

Financial Express (India): 19 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 19 -- FE Report

Islami Bank Bangladesh Limited recently launched new products for expatriates named 'NRB Entrepreneurs Investment Scheme' and 'Mudaraba NRB Savings Bond' to pave the way for creating lucrative opportunities of investment of the hard earned remittance of Bangladeshi expatriates.

 

IBBL is the highest remittance earning bank accounting for more than 28 percent of remittance Bangladesh annually receives.

 

Besides, IBBL launched another new product 'Remittance Card' to send and receive money safe and sound within short time.

 

Under the 'NRB Entrepreneurs Investment Scheme' from Taka fifty thousand to Taka 100 million in electrical and electronics, software developing, light engineering, agro-based industry, leather-based industry, knit-wear and ready-made garments industry, plastic industry, health services and diagnostic, education sector, medicine, perfume, fashion design, crop cultivation, poultry farm, beef fattening, fishing and hatchery including productive sector, commercial sector and service sector.

 

IBBL has also launched 'Mudaraba NRB Savings Bond' with a view to inspire the expatriates to send their hard earning remittance through legal way and they will receive more profit than any other savings account. They can purchase the bond of Tk. 25 thousand, 50 thousand, 0.1 million, 0.2 million, 0.5 million and 1.0 million under the scheme. The expatriates and their relatives can invest purchasing 5 year and 10 year term Mudaraba Savings Bond.

 

IBBL has also initiated another new product 'Remittance Card' to send and receive money instantly. The expatriates will be able to remit their money immediately at payees account and the receiver can draw cash from any branch of IBBL using Remittance Card without any account.

 

The card holder can draw money, know balance, make payment of telephone bill, electricity bill and gas bill from any branch or ATM Booth by using the Remittance Card. Published by HT Syndication with permission from The Financial Express. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

Discussion and Ifter mahfil held

New Nation (Bangladesh): 17 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 17 -- In Islami Bank Bangladesh LTD held a discussion meeting on 'Importance of Ramadan and significant of Jakat' and iftyar mahfil on Monday at its Tangail branch campus.

 

M Bazlul Karim Chowdhury deputy commissioner Tangail, Alhaj Shawkat Ali Talukder, Dr Md Kamruzzaman, advocate Abdur Razzaque among others spoke on the occasion, Md Abdul Jabbar Executive Vice President and Zone Chief of Islamibank Mymensing zone president A K M. Mahbub Morshed, Manager, Islami Bank, Tangail branch gave the welcome address. Speakers stressed the need of following Islam as stated in Quran and Hadid. A special monajat was offered before Ifter Mahfil on the occasion. Published by HT Syndication with permission from The New Nation. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

Sunman Gr forays into paper business

Financial Express (India): 16 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 16 -- Jasim Uddin Haroon

Apparel major Sunman Group has made an inroad into Bangladesh's booming paper manufacturing industry after it bought Capital Paper and Board Mills in a deal worth Tk 1.2 billion.

 

The US$200 million clothing-beverage-information technology-based company will formally take over the country's third largest paper mills by sales by shouldering the Narayanganj-based firm's debts and liabilities.

 

Industry insiders said the purchase is one of the largest acquisition deals in the history of the country. Islami Bank Bangladesh is funding it.

 

They also said the deal has made perfect sense for Sunman Group as Bangladesh's paper market has been growing by 12-13 per cent on year-on-year basis.

 

"We'll formally take over the paper mills tomorrow," Md Ferdous, an official of Sunman who looks after the new acquisition, told the FE Monday.

 

Capital Paper and Board Mills, established in 1998, supplies over 160 tonnes off-set and news print paper every day. The country's leading daily newspapers are the prime customers of the paper mills.

 

The paper mills has also a commanding market share in the country's fastest growing off-set paper market.

 

However original owners of the paper mills sold it mainly on their personal grounds, not for debts or any other crisis, sources said.

 

Some 70 per cent shares of the paper mills belonged to one Ansar Rahman, a Chittagong-born Malaysian citizen who sold it due to his deteriorating physical condition. He has no successor to look after the big industry.

 

The group went ahead with the investment in paper as the mills has a good reputation and its produces are sold out soon after production.

 

Sunman has taken Capital's present office at Gulshan in the city on rent currently.

 

It will however not change the registered name - Capital Paper and Board Mills - for the time being.

 

One Sunman official said the demand for paper is rising fast and the group will install state-of-the-art mills shortly to emerge as the number one company in the country.

 

Currently, Bashundhara Paper Mills is the market leader followed by TK Group of Industries.

 

Sunman, mainly involved in readymade garment making, launched its operation from the port city of Chittagong in 1982. Even in 1990s it was solely a clothing maker and later it expanded its arms to beverage production, home textile and WIMAX services.

The group is also investing more than eight billion taka in a state-of-the-art plant of home textile at Iswardi export processing zone, which will go into operation in mid-2012. Published by HT Syndication with permission from The Financial Express. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

IBBL's ifter mahfil

Financial Express (India): 13 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 13 -- The discussion meeting titled "The Role of Economics in Human Life in perspective of Ramadan" and Iftar Mahfil, arranged by Islami Bank Bangladesh Limited, Bogra and Baragola branches in progress at District Shilpakola Academy in Bogra recently.

 

Islami Bank Bangladesh Limited, Bogra and Baragola branches arranged discussion meeting on "The Role of Economics in Human Life in perspective of Ramadan" and Iftar Mahfil at District Shilpakola Academy in Bogra recently, said a press release.

 

Bogra Pourasova Mayor Advocate A K M Mahbubar Rahman, Ex-District & Session Judge Anower Hossain, Bogra Advocates Bar Samity President Advocate M. Anisur Rahman, Bogra Ayeenjibi Samity President Advocate Khandoker Delower Hossain, Principal of Govt Mustafabia Alia Madrasah Professor A K M Aftabuddin Ahmed, President of Bogra Imam Muajjin Samittee Maolana Alamgir Hossain, Maolana Monower Hossain, and Bank's Baragola Branch manager Muhammad Shahjahan took part in the discussion with Bank's Bogra Zonal Head EVP Shafiqul Mawla in the chair.

 

IBBL Bogra Branch Manager SVP Md. Qaisar Ali delivered the welcome address at the beginning of the meeting. Published by HT Syndication with permission from The Financial Express. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

3 new IBBL products for expatriates

New Nation (Bangladesh): 11 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 11 -- Islami Bank Bangladesh Ltd (IBBL) launched new products for Expatriates named 'NRB Entrepreneurs Investment Scheme' and 'Mudaraba NRB Savings Bond' with a view to best way to create opportunity of investment of the hard earned remittance of Bangladeshi expatriates. Besides, IBBL launched another new product 'Remittance Card' to send and receive money safe and sound within short time.

 

With a view to create job opportunity and include their hard earned remittance in the main stream economy, IBBL invests to Bangladeshi expatriates under the 'NRB Entreprenuours Investment Scheme' from Taka fifty thousnad to Taka ten crore in electrical and electronics, software developing, light engeenering, agro based industry, leather based industry, Knit Wear and Ready made garments industry, plastic industry, health services and diagnostic, education sector, medicine, perfume, fashion design, crop cultivation, poultry farm, beef fattening, fishing and hatchery including productive sector, commercial sector and service sector.

 

IBBL has also initiated another new product 'Remittance Card' to send and receive money instantly safe and sound. The expatriates will be able to remit their money immediately at payees account and the receiver can draw cash from any branch of IBBL using Remittance Card without any account. The card holder can draw money, know balance, and make payment of telephone bill, electricity bill and gas bill from any branch or ATM Booth by using the Remittance Card.

 

IBBL has launched 'Mudaraba NRB Savings Bond' with a view to inspire the expatriates to send their hard earning remittance through legal way and they will receive more profit than any other savings account. They can purchase the bond of Tk. 25 thousand, 50 thousand, 1 lakh, 2 lakh, 5 lakh and 10 lakh under the scheme. The expatriates and their relatives can invest purchasing 5 year and 10 year term Mudaraba Savings Bond. They also purchase the bond in favor of their children. Published by HT Syndication with permission from The New Nation. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

IBBL opens 95th ATM booth

Financial Express (India): 05 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 5 -- Managing Director of Islami Bank Bangladesh Limited Mohammad Abdul Mannan inaugurating an ATM booth of the bank on Green Road in the city Thursday.

 

Islami Bank Bangladesh Limited (IBBL) has inaugurated its 95th own ATM booth on Green Road in the city.

 

Managing Director of the bank Mohammad Abdul Mannan inaugurated the booth as the chief guest Thursday, said a press release.

 

Executive Vice President and Head of Dhaka South Zone of the bank M Najibur Rahman and Senior Vice President and Manager of Farmgate branch of the bank Muhammad Kamal Uddin Jasim along with officers and clients of the branch attended the inaugural function.

 

At present IBBL is serving the clients with 95 own and 140 shared ATM booths.

 

Moreover, the bank recently signed an agreement with BRAC Bank through which clients of IBBL will get transaction facilities through more than 500 Omnibus ATM booths. Published by HT Syndication with permission from The Financial Express. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

Former BB Dy Governor passes away

New Nation (Bangladesh): 05 August 2011

[What follows is the full text of the news story.]

 

Bangladesh, Aug. 5 -- ASM Fakhrul Ahsan, former Deputy Governor of Bangladesh Bank and former Director and Member of Shari'ah council of Islami Bank Bangladesh Ltd died on Wednesday (Inna Lillahi Wa Inna Ilaihe Raziun).

 

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman and Mohammad Abdul Mannan, Managing Director of Islami Bank Bangladesh expressed deep sorrow at his death. They also condoled the bereaved family of the deceased.

 

Fakhrul Ahsan played important role in establishment of Islami Bank in Bangladesh and discharged duties as Director and Member of Shari'ah Council of Islami Bank Bangladesh Ltd. He also played important role in training up the Islamic Bankers as the Director General of Islami Bank Training and Research Academy. Published by HT Syndication with permission from The New Nation. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

 

 

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Interest & Dividends on Investment Securities

5.9

1.3

0.8

0.7

1.1

    Other Interest Income

349.9

308.3

284.2

210.9

161.2

Interest Income, Bank

355.8

309.6

285.0

211.6

162.3

    Interest on Deposit

207.9

189.4

177.3

136.6

116.6

Total Interest Expense

207.9

189.4

177.3

136.6

116.6

Net Interest Income

147.9

120.1

107.6

74.9

45.6

 

 

 

 

 

 

Loan Loss Provision

16.0

18.3

16.5

20.1

5.9

Net Interest Income after Loan Loss Provision

131.9

101.8

91.1

54.9

39.7

 

 

 

 

 

 

    Commissions & Fees from Securities Activities

57.4

49.8

48.7

37.4

35.7

    Fees for Other Customer Services

0.4

0.2

0.2

0.1

0.1

    Investment Securities Gains

7.0

1.7

6.0

4.1

2.0

    Other Unusual Income

0.0

0.0

0.0

0.0

0.0

    Other Revenue

9.2

3.8

3.6

2.7

2.6

Non-Interest Income, Bank

77.8

58.4

61.4

45.4

41.9

    Labor & Related Expenses

-61.7

-45.6

-41.6

-29.5

-27.1

    Depreciation Expense

-5.0

-4.0

-3.3

-2.6

-2.1

    Other Expense

-21.0

-16.2

-15.2

-13.3

-10.1

Non-Interest Expense, Bank

-87.7

-65.9

-60.0

-45.4

-39.3

Income Before Tax

122.0

94.4

92.6

54.9

42.3

 

 

 

 

 

 

Total Income Tax

57.5

45.1

53.6

34.2

21.9

Income After Tax

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

    Minority Interest

0.0

0.0

-

-

-

Net Income Before Extraord Items

64.4

49.3

39.0

20.7

20.4

Net Income

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Basic EPS Excl Extraord Items

0.87

0.67

0.63

0.44

5.36

Basic/Primary EPS Incl Extraord Items

0.87

0.67

0.63

0.44

5.36

Diluted Net Income

64.4

49.3

39.0

20.7

20.4

Diluted Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Diluted EPS Excl Extraord Items

0.87

0.67

0.63

0.44

5.36

Diluted EPS Incl Extraord Items

0.87

0.67

0.63

0.44

5.36

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Depreciation, Supplemental

5.0

4.0

3.3

2.6

2.1

Total Special Items

-3.7

-3.0

-2.9

-1.0

-1.5

Normalized Income Before Tax

118.2

91.5

89.6

53.9

40.8

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-1.8

-1.4

-1.7

-0.4

-0.8

Inc Tax Ex Impact of Sp Items

55.8

43.7

51.9

33.8

21.1

Normalized Income After Tax

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Basic Normalized EPS

0.84

0.64

0.61

0.42

5.16

Diluted Normalized EPS

0.84

0.64

0.61

0.42

5.16

Rental Expenses

2.1

1.5

-

-

-

Advertising Expense, Supplemental

0.9

0.4

0.6

0.4

0.6

Bank Total Revenue

433.7

368.0

346.4

257.0

204.2

    Current Tax - Domestic

57.6

44.7

53.2

24.7

21.7

Current Tax - Total

57.6

44.7

53.2

24.7

21.7

    Deferred Tax - Domestic

0.0

0.4

0.4

0.5

0.3

Deferred Tax - Total

0.0

0.4

0.4

0.5

0.3

Income Tax - Total

57.5

45.1

53.6

25.1

21.9

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

Cash & Due from Banks

846.2

812.9

645.6

596.0

411.2

    Interest-earning Deposits

0.1

0.1

0.1

0.1

0.1

    Total Investment Securities

3,713.7

3,098.7

2,612.9

2,083.5

1,644.0

Other Earning Assets, Total

3,713.9

3,098.8

2,613.0

2,083.6

1,644.1

        Buildings

51.3

50.3

33.1

29.6

27.5

        Land/Improvements

34.8

35.3

22.8

21.0

20.3

        Machinery/Equipment

30.6

25.8

22.2

17.6

14.7

        Construction in Progress

1.0

0.6

0.5

1.0

1.0

        Other Property/Plant/Equipment

0.2

0.0

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

117.9

112.0

78.7

69.1

63.5

    Accumulated Depreciation

-22.0

-18.0

-14.7

-11.8

-9.6

Property/Plant/Equipment - Net

95.9

94.0

64.0

57.3

53.9

    Other Assets

37.7

12.5

27.9

14.3

65.7

Other Assets, Total

37.7

12.5

27.9

14.3

65.7

Total Assets

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

Accounts Payable

42.3

36.8

33.5

25.4

12.9

    Other Deposits

503.7

343.6

300.8

275.5

202.9

Total Deposits

4,100.1

3,490.4

2,899.5

2,365.9

1,903.9

    Long Term Debt

42.6

43.3

43.5

43.1

0.0

Total Long Term Debt

42.6

43.3

43.5

43.1

0.0

Total Debt

42.6

43.3

43.5

43.1

0.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

2.3

2.4

2.0

-

-

Deferred Income Tax

2.3

2.4

2.0

-

-

Minority Interest

0.0

0.0

-

-

-

    Other Liabilities

172.7

155.1

167.8

155.5

113.3

Other Liabilities, Total

172.7

155.1

167.8

155.5

113.3

Total Liabilities

4,360.0

3,727.9

3,146.4

2,589.9

2,030.0

 

 

 

 

 

 

    Common Stock

105.2

89.2

69.0

54.7

50.0

Common Stock

105.2

89.2

69.0

54.7

50.0

Additional Paid-In Capital

0.0

0.0

0.0

0.0

0.0

Retained Earnings (Accumulated Deficit)

158.4

123.2

95.1

69.5

61.8

Unrealized Gain (Loss)

70.0

77.8

39.9

37.1

33.0

Total Equity

333.7

290.3

204.0

161.3

144.9

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

74.1

61.8

61.8

38.0

34.6

Total Common Shares Outstanding

74.1

61.8

61.8

38.0

34.6

Number of Common Shareholders

58,923

52,164

33,686

26,488

26,488

Deferred Revenue - Current

0.0

0.0

0.0

0.0

0.0

Total Long Term Debt, Supplemental

42.6

43.3

43.5

43.1

-

Long Term Debt Maturing within 1 Year

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 2

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 3

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 4

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 5

-

0.0

0.0

0.0

-

Long Term Debt Maturing in 2-3 Years

-

0.0

0.0

0.0

-

Long Term Debt Maturing in 4-5 Years

-

0.0

0.0

0.0

-

Long Term Debt Matur. in Year 6 & Beyond

42.6

43.3

43.5

43.1

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

Cash Receipts

355.6

309.6

285.0

211.6

162.3

Cash Payments

-2.7

-2.2

-1.9

-1.7

-0.8

Cash Taxes Paid

-46.3

-52.1

-34.8

-29.2

-15.7

    Other Assets

-720.6

-487.6

-522.9

-691.1

-320.6

    Other Liabilities

668.6

583.0

477.7

503.9

359.9

    Other Operating Cash Flow

-203.8

-183.6

-152.1

-128.7

-111.3

Changes in Working Capital

-255.8

-88.2

-197.3

-315.8

-71.9

Cash from Operating Activities

50.8

167.1

51.0

-135.1

73.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-8.2

-4.7

-9.2

-6.3

-5.8

Capital Expenditures

-8.2

-4.7

-9.2

-6.3

-5.8

    Purchase of Investments

-18.6

-43.5

189.5

0.0

-0.3

Other Investing Cash Flow Items, Total

-18.6

-43.5

189.5

0.0

-0.3

Cash from Investing Activities

-26.8

-48.1

180.4

-6.3

-6.2

 

 

 

 

 

 

    Other Financing Cash Flow

-9.6

0.0

0.0

-7.5

0.0

Financing Cash Flow Items

-9.6

0.0

0.0

-7.5

0.0

        Long Term Debt Issued

0.0

0.0

0.0

43.6

0.0

    Long Term Debt, Net

0.0

0.0

0.0

43.6

0.0

Issuance (Retirement) of Debt, Net

0.0

0.0

0.0

43.6

0.0

Cash from Financing Activities

-9.6

0.0

0.0

36.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-

-

-

-

0.0

Net Change in Cash

14.4

118.9

231.3

-105.4

67.6

 

 

 

 

 

 

Net Cash - Beginning Balance

648.9

535.3

538.8

411.6

344.6

Net Cash - Ending Balance

663.3

654.3

658.5

306.2

34.1

Depreciation

5.0

4.0

3.3

2.6

2.1

 

 

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Income From General Investment

349.9

308.3

284.2

210.9

161.2

    Investment Income

5.9

1.3

0.8

0.7

1.1

Total Revenue

355.8

309.6

285.0

211.6

162.3

 

 

 

 

 

 

    Profit Paid on Deposits

207.9

189.4

177.3

136.6

116.6

    Loan Loss Provisions

16.0

18.3

16.5

20.1

5.9

Total Operating Expense

223.9

207.7

193.8

156.7

122.5

 

 

 

 

 

 

    Income From Investment In Shares/Securit

7.0

1.7

6.0

4.1

2.0

    Commission, Exchange & Brokerage

57.4

49.8

48.7

37.4

35.7

    Rent On Locker

0.1

0.0

0.0

0.0

0.0

    Telephone/Trunk Call Charge Recoevered

0.4

0.6

0.5

0.5

0.4

    Telex Charge Recovered

-

-

-

0.0

0.1

    P & T Charge Recovered

0.8

0.8

0.8

0.6

0.8

    Legal Expenses Recovered

0.0

0.0

0.1

0.0

0.0

    E & TA Fees Recovered

0.0

0.0

0.0

0.0

0.0

    Income from ATM & Swift

1.5

1.1

1.0

0.8

0.5

    Incidental Charges Recovered

5.4

0.1

0.1

0.1

0.1

    Service Charges Recovered

0.4

0.2

0.1

0.1

0.0

    Rent On Premises Realised

0.0

0.0

0.0

0.0

0.1

    Sale Proceeds Of Tender Schedule

0.0

0.1

0.0

0.0

0.0

    Profit On Sale Of Bank's Premises

-

-

-

-

0.1

    Profit On Sale Of Bank's Car

0.0

0.0

0.1

0.1

0.1

    W/O Investment Recovery

3.7

2.9

2.8

0.9

1.4

    Recruitment Fees Recovered

0.2

0.3

0.1

0.2

0.1

    MICR Cheque Charge Realised

0.0

-

-

-

-

    Brokerage House Income

-

-

-

0.0

-

    Gain On Revaluation Of Securities

-

-

-

0.0

-

    Others

0.7

0.8

1.0

0.5

0.4

    Salary & Allowances

-61.6

-45.6

-41.3

-29.5

-26.9

    Rent, Taxes, Insurances,

-6.0

-1.5

-1.3

-0.9

-0.7

    Legal Expenses

-0.2

-0.2

-0.2

-0.2

-0.2

    Postage, Stamp,

-1.2

-0.5

-0.5

-0.4

-0.4

    Printing & Stationery

-2.1

-1.0

-0.7

-0.6

-0.4

    Chief Executive's Salary & Fees

-0.1

-0.1

-0.1

0.0

0.0

    Directors' Fees & Expenses

-0.1

-0.1

-0.1

-0.1

-0.1

    Shariah Council's Meeting Fees & Expense

0.0

0.0

0.0

-

-

    Auditors' Fees

0.0

0.0

0.0

0.0

0.0

    Insurance

-

-2.1

-1.8

-1.4

-1.1

    Electricity & Lighting

-

-1.3

-1.1

-0.9

-0.7

    Telegram

-

-

-

0.0

0.0

    Swift Charges

-

-0.3

-0.2

-0.2

-0.2

    Telephone

-

-0.4

-0.5

-0.6

-0.6

    Fax & Internet

-

-0.1

-0.1

0.0

0.0

    Stamps

-

0.0

0.0

0.0

0.0

    Paper & Table Stationery

-

-0.2

-0.2

-0.2

-0.1

    Advertisement & Publicity

-

-0.4

-0.6

-0.4

-0.6

    Depreciation and Repair of

-5.0

-4.0

-3.3

-2.6

-2.1

    Other Expenses

-7.7

-5.3

-5.7

-7.4

-4.9

    Bank Charges

-0.3

-0.2

-0.1

0.0

0.0

    Staff Welfare

-0.1

0.0

-0.3

0.0

-0.2

    Gain On Revaluation Reserve Of Securitie

-

-

-

0.0

-

    Zakat Expenses

-3.2

-2.5

-1.9

-

-

Total Non-Interest Revenue

77.8

58.4

61.4

45.4

41.9

 

 

 

 

 

 

Total Non-Interest Expense

-87.7

-65.9

-60.0

-45.4

-39.3

 

 

 

 

 

 

Net Income Before Taxes

122.0

94.4

92.6

54.9

42.3

 

 

 

 

 

 

Provision for Income Taxes

57.5

45.1

53.6

34.2

21.9

Net Income After Taxes

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

    Minority Interest

0.0

0.0

-

-

-

Net Income Before Extra. Items

64.4

49.3

39.0

20.7

20.4

Net Income

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Basic Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Basic EPS Excluding ExtraOrdinary Items

0.87

0.67

0.63

0.44

5.36

Basic EPS Including ExtraOrdinary Items

0.87

0.67

0.63

0.44

5.36

Diluted Net Income

64.4

49.3

39.0

20.7

20.4

Diluted Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Diluted EPS Excluding ExtraOrd Items

0.87

0.67

0.63

0.44

5.36

Diluted EPS Including ExtraOrd Items

0.87

0.67

0.63

0.44

5.36

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

118.2

91.5

89.6

53.9

40.8

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

55.8

43.7

51.9

33.8

21.1

Normalized Income After Taxes

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Basic Normalized EPS

0.84

0.64

0.61

0.42

5.16

Diluted Normalized EPS

0.84

0.64

0.61

0.42

5.16

Depreciation, Supplemental

5.0

4.0

3.3

2.6

2.1

Advertising Expense, Supplemental

0.9

0.4

0.6

0.4

0.6

Rental Expense, Supplemental

2.1

1.5

-

-

-

    Current Tax

57.6

44.7

53.2

24.7

21.7

Current Tax - Total

57.6

44.7

53.2

24.7

21.7

    Deferred Tax

0.0

0.4

0.4

0.5

0.3

Deferred Tax - Total

0.0

0.4

0.4

0.5

0.3

Income Tax - Total

57.5

45.1

53.6

25.1

21.9

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Cash in hand

53.7

35.8

45.1

41.8

20.4

    Bank Balance

500.4

505.4

409.6

203.7

320.0

    Financial Institutions

53.0

84.6

19.1

33.8

11.0

    Financial Institutions-Outside Banglades

48.0

26.3

62.5

23.8

8.2

    Investments in Shares &

165.6

160.4

109.0

292.5

51.2

    Investments in Shares &-Other

25.6

0.4

0.4

0.3

0.3

    General Investment

3,452.1

2,929.3

2,464.5

1,924.8

1,544.5

    Bills Purchased & Discontinued

261.7

169.4

148.4

158.7

99.5

    Land

34.8

35.3

22.8

21.0

20.3

    Building

51.3

50.3

33.1

29.6

27.5

    Construction/Work-in-process

1.0

0.6

0.5

1.0

1.0

    Furniture & Fixtures

6.2

5.5

4.8

4.2

3.7

    Mechanical Applicants & Cost Of Software

19.0

15.4

12.8

10.0

8.0

    Motor Vehicles

5.3

5.0

4.6

3.3

3.0

    Books

0.0

0.0

0.0

0.0

0.0

    Others

0.1

0.0

-

-

-

    Depreciation

-22.0

-18.0

-14.7

-11.8

-9.6

    Stock Of Stationery In Hand

1.1

0.8

0.8

0.6

0.5

    Stamps In Hand

0.1

0.1

0.0

0.0

0.0

    Advances Rent Paid

2.8

2.1

1.8

1.6

1.4

    Security Deposits

0.1

0.1

0.1

0.1

0.1

    Suspenses Accounts

10.5

7.5

4.5

4.9

5.1

    D.D Paid without Advice

-

-

-

0.4

5.2

    Accrued Income

4.6

2.0

5.9

2.9

0.0

    Deferred Revenue

0.0

0.0

0.0

0.0

0.0

    IB General Accounts

14.7

0.0

0.5

0.0

47.6

    F.C Clearing

3.2

0.0

14.3

3.8

5.9

    Other Assets

0.8

0.0

-

-

-

Total Assets

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

    Mudaraba Savings Deposits

1,577.1

1,372.8

1,124.6

897.2

754.4

    Mudaraba Term Deposits

725.9

653.6

532.7

447.2

374.5

    Other Mudaraba Deposits

1,293.5

1,120.5

941.4

746.0

572.1

    Current and Other Accounts

503.7

343.6

300.8

275.5

202.9

    Bills Payable

42.3

36.8

33.5

25.4

12.9

    Other liabilities

172.7

155.1

167.8

155.5

113.3

    Mudaraba Perpetual Bond

42.6

43.3

43.5

43.1

0.0

Total Long Term Debt

42.6

43.3

43.5

43.1

0.0

 

 

 

 

 

 

    Deferred Tax Liabilities

2.3

2.4

2.0

-

-

    Minority Interest

0.0

0.0

-

-

-

Total Liabilities

4,360.0

3,727.9

3,146.4

2,589.9

2,030.0

 

 

 

 

 

 

    Paid - up Capital

105.2

89.2

69.0

54.7

50.0

    Share Premium

0.0

0.0

0.0

0.0

0.0

    Statutory Reserve

112.6

90.2

71.7

52.8

32.9

    General/Other Reserves

8.7

6.3

2.8

3.0

16.4

    Assets Rev. Reserves

61.2

62.3

33.0

32.7

33.0

    Revaluation Reserves Of Securities

8.8

15.6

6.9

4.4

0.0

    Retained Earnings including

37.1

26.8

20.7

13.7

12.5

Total Equity

333.7

290.3

204.0

161.3

144.9

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

    S/O-Common Stock

74.1

61.8

61.8

38.0

34.6

Total Common Shares Outstanding

74.1

61.8

61.8

38.0

34.6

Deferred Revenue - Current

0.0

0.0

0.0

0.0

0.0

Number of Common Shareholders

58,923

52,164

33,686

26,488

26,488

Long Term Debt Maturing within 1 Year

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 5

-

0.0

0.0

0.0

-

Long Term Debt - Remaining Maturities

42.6

43.3

43.5

43.1

-

Total Long Term Debt, Supplemental

42.6

43.3

43.5

43.1

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Cash Receipts

355.6

309.6

285.0

211.6

162.3

    Cash Payments

-2.7

-2.2

-1.9

-1.7

-0.8

    Cash Taxes Paid

-46.3

-52.1

-34.8

-29.2

-15.7

    Payments to employees

-61.7

-45.7

-41.4

-29.6

-26.9

    Profit Paid on Deposits

-198.6

-184.3

-155.4

-129.9

-116.6

    Income/ Dividend receipt from Investment

4.6

3.9

3.0

1.2

2.0

    Fees & Commission receipt in Cash

57.4

49.8

48.7

37.4

35.7

    Recoveries On Investment Previously W/O

3.7

2.9

2.8

0.9

-

    Receipts from other Operating Activities

9.5

4.1

4.0

2.9

4.2

    Payments from other Operating Activities

-18.7

-14.3

-13.7

-11.6

-9.6

    Investments to Customers

-676.8

-500.7

-512.3

-455.2

-289.9

    Investment In Shares & Securities

-

-

-

-290.4

-

    Other Assets

-43.8

13.1

-10.6

54.4

-30.7

    Deposits from other Banks

0.8

1.0

-0.6

3.4

1.7

    Deposits received from Customers

683.7

595.4

474.8

482.2

356.7

    Other Liabilities

-15.9

-13.4

3.5

18.4

1.6

Cash from Operating Activities

50.8

167.1

51.0

-135.1

73.8

 

 

 

 

 

 

    Payment for Purchase Of Securities/BGIIB

-14.4

-43.5

189.5

0.0

-0.3

    Purchase/Sale Of Property,Plant & Equipm

-8.2

-4.7

-9.2

-6.3

-5.8

    Payment for Purchase Of Securities/Membe

-4.2

0.0

-

-

-

Cash from Investing Activities

-26.8

-48.1

180.4

-6.3

-6.2

 

 

 

 

 

 

    Receipts from Issue Of Loan Capital/Debt

0.0

0.0

0.0

43.6

0.0

    Dividend Paid

-9.6

0.0

0.0

-7.5

0.0

Cash from Financing Activities

-9.6

0.0

0.0

36.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-

-

-

-

0.0

Net Change in Cash

14.4

118.9

231.3

-105.4

67.6

 

 

 

 

 

 

    Depreciation

5.0

4.0

3.3

2.6

2.1

Cash,Begining Of Year

648.9

535.3

538.8

411.6

344.6

Cash,End Of Year

663.3

654.3

658.5

306.2

34.1

 

 

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

128.6

25.20%

433.7

18.82%

19.47%

-

Income Available to Common Excl Extraord Items1

29.4

54.85%

64.4

31.79%

46.47%

-

Basic EPS Excl Extraord Items1

0.29

14.71%

0.87

31.79%

26.29%

-

Capital Expenditures2

4.0

33.72%

8.2

76.03%

9.32%

-

Cash from Operating Activities2

164.2

3.02%

50.8

-69.32%

-

-

Free Cash Flow

156.0

2.43%

42.1

-73.52%

-

-

Total Assets3

4,984.1

22.16%

4,693.7

18.86%

20.01%

-

Total Liabilities3

4,622.7

22.14%

4,360.0

19.01%

19.48%

-

Total Long Term Debt3

40.4

0.00%

42.6

0.00%

0.00%

-

Total Common Shares Outstanding3

74.1

0.00%

74.1

20.00%

24.93%

-

1-ExchangeRate: BDT to USD Average for Period

73.267903

 

69.602650

 

 

 

2-ExchangeRate: BDT to USD Average for Period

72.291257

 

69.602650

 

 

 

3-ExchangeRate: BDT to USD Period End Date

74.220000

 

70.475000

 

 

 

 

Banking Industry Specific USD (mil)

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

 

Interest Income, Bank1

355.8

309.6

285.0

211.6

162.3

 

Total Interest Expense1

207.9

189.4

177.3

136.6

116.6

 

Loan Loss Provision1

16.0

18.3

16.5

20.1

5.9

 

Cash & Due from Banks3

846.2

812.9

645.6

596.0

411.2

 

Total Deposits3

4,100.1

3,490.4

2,899.5

2,365.9

1,903.9

 

1-ExchangeRate: BDT to USD Average for Period

69.602650

69.026932

68.582616

68.868552

68.759046

 

3-ExchangeRate: BDT to USD Period End Date

70.475000

69.260000

68.910000

69.555000

69.085000

 

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Pretax Margin

34.28%

30.50%

32.48%

25.95%

26.07%

Net Profit Margin

18.11%

15.93%

13.69%

9.80%

12.55%

Financial Strength

Long Term Debt/Equity

0.13

0.15

0.21

0.27

0.00

Total Debt/Equity

0.13

0.15

0.21

0.27

0.00

Management Effectiveness

Return on Assets

1.47%

1.34%

1.27%

0.84%

-

Return on Equity

20.57%

19.92%

21.16%

13.45%

-

Efficiency

Asset Turnover

0.10

0.10

0.11

0.10

-

 

Market Valuation USD (mil)

P/E (TTM)

8.35

.

Enterprise Value2

-384.5

Price/Sales (TTM)

2.19

.

Price/Book (MRQ)

1.47

Enterprise Value/EBITDA (TTM)

-1.10

.

Market Cap1

528.7

1-ExchangeRate: BDT to USD on 4-Aug-2011

74.665000

 

 

 

2-ExchangeRate: BDT to USD on 30-Jun-2011

74.220000

 

 

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Long Term Debt/Equity

0.13

0.15

0.21

0.27

0.00

Total Debt/Equity

0.13

0.15

0.21

0.27

0.00

Long Term Debt/Total Capital

0.11

0.13

0.18

0.21

0.00

Total Debt/Total Capital

0.11

0.13

0.18

0.21

0.00

Payout Ratio

0.00%

0.00%

0.00%

0.00%

0.00%

Effective Tax Rate

47.17%

47.78%

57.86%

62.25%

51.85%

Total Capital1

376.3

333.6

247.6

204.4

144.9

 

 

 

 

 

 

Efficiency

Asset Turnover

0.10

0.10

0.11

0.10

-

 

 

 

 

 

 

Profitability

Pretax Margin

34.28%

30.50%

32.48%

25.95%

26.07%

Net Profit Margin

18.11%

15.93%

13.69%

9.80%

12.55%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

1.47%

1.34%

1.27%

0.84%

-

Return on Equity

20.57%

19.92%

21.16%

13.45%

-

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.57

2.62

0.67

-3.68

1.96

Operating Cash Flow/Share 2

0.68

2.70

0.82

-3.52

2.13

1-ExchangeRate: BDT to USD Period End Date

70.475

69.26

68.91

69.555

69.085

2-ExchangeRate: BDT to USD Average for Period

70.475

69.26

68.91

69.555

69.085

 

Current Market Multiples

Market Cap/Earnings (TTM)

8.35

Market Cap/Equity (MRQ)

1.47

Market Cap/Revenue (TTM)

1.41

Market Cap/EBIT (TTM)

1.53

Market Cap/EBITDA (TTM)

1.53

Enterprise Value/Earnings (TTM)

-6.03

Enterprise Value/Equity (MRQ)

-1.06

Enterprise Value/Revenue (TTM)

-1.02

Enterprise Value/EBIT (TTM)

-1.10

Enterprise Value/EBITDA (TTM)

-1.10

 

 

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Interest & Dividends on Investment Securities

5.9

1.3

0.8

0.7

1.1

    Other Interest Income

349.9

308.3

284.2

210.9

161.2

Interest Income, Bank

355.8

309.6

285.0

211.6

162.3

    Interest on Deposit

207.9

189.4

177.3

136.6

116.6

Total Interest Expense

207.9

189.4

177.3

136.6

116.6

Net Interest Income

147.9

120.1

107.6

74.9

45.6

 

 

 

 

 

 

Loan Loss Provision

16.0

18.3

16.5

20.1

5.9

Net Interest Income after Loan Loss Provision

131.9

101.8

91.1

54.9

39.7

 

 

 

 

 

 

    Commissions & Fees from Securities Activities

57.4

49.8

48.7

37.4

35.7

    Fees for Other Customer Services

0.4

0.2

0.2

0.1

0.1

    Investment Securities Gains

7.0

1.7

6.0

4.1

2.0

    Other Unusual Income

0.0

0.0

0.0

0.0

0.0

    Other Revenue

9.2

3.8

3.6

2.7

2.6

Non-Interest Income, Bank

77.8

58.4

61.4

45.4

41.9

    Labor & Related Expenses

-61.7

-45.6

-41.6

-29.5

-27.1

    Depreciation Expense

-5.0

-4.0

-3.3

-2.6

-2.1

    Other Expense

-21.0

-16.2

-15.2

-13.3

-10.1

Non-Interest Expense, Bank

-87.7

-65.9

-60.0

-45.4

-39.3

Income Before Tax

122.0

94.4

92.6

54.9

42.3

 

 

 

 

 

 

Total Income Tax

57.5

45.1

53.6

34.2

21.9

Income After Tax

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

    Minority Interest

0.0

0.0

-

-

-

Net Income Before Extraord Items

64.4

49.3

39.0

20.7

20.4

Net Income

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Basic EPS Excl Extraord Items

0.87

0.67

0.63

0.44

5.36

Basic/Primary EPS Incl Extraord Items

0.87

0.67

0.63

0.44

5.36

Diluted Net Income

64.4

49.3

39.0

20.7

20.4

Diluted Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Diluted EPS Excl Extraord Items

0.87

0.67

0.63

0.44

5.36

Diluted EPS Incl Extraord Items

0.87

0.67

0.63

0.44

5.36

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Depreciation, Supplemental

5.0

4.0

3.3

2.6

2.1

Total Special Items

-3.7

-3.0

-2.9

-1.0

-1.5

Normalized Income Before Tax

118.2

91.5

89.6

53.9

40.8

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-1.8

-1.4

-1.7

-0.4

-0.8

Inc Tax Ex Impact of Sp Items

55.8

43.7

51.9

33.8

21.1

Normalized Income After Tax

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Basic Normalized EPS

0.84

0.64

0.61

0.42

5.16

Diluted Normalized EPS

0.84

0.64

0.61

0.42

5.16

Rental Expenses

2.1

1.5

-

-

-

Advertising Expense, Supplemental

0.9

0.4

0.6

0.4

0.6

Bank Total Revenue

433.7

368.0

346.4

257.0

204.2

    Current Tax - Domestic

57.6

44.7

53.2

24.7

21.7

Current Tax - Total

57.6

44.7

53.2

24.7

21.7

    Deferred Tax - Domestic

0.0

0.4

0.4

0.5

0.3

Deferred Tax - Total

0.0

0.4

0.4

0.5

0.3

Income Tax - Total

57.5

45.1

53.6

25.1

21.9

 

 

Interim Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

73.267903

71.32044

70.399892

69.465054

69.278871

 

 

 

 

 

 

    Interest & Dividends on Investment Securities

105.4

99.5

97.8

89.8

87.1

Interest Income, Bank

105.4

99.5

97.8

89.8

87.1

    Interest on Deposit

56.8

57.1

57.0

54.7

47.4

Total Interest Expense

56.8

57.1

57.0

54.7

47.4

Net Interest Income

48.5

42.4

40.9

35.1

39.7

 

 

 

 

 

 

Loan Loss Provision

-1.5

6.1

2.9

8.0

5.2

Net Interest Income after Loan Loss Provision

50.0

36.3

38.0

27.2

34.5

 

 

 

 

 

 

    Commissions & Fees from Securities Activities

18.3

19.3

16.0

14.6

13.8

    Investment Securities Gains

0.8

0.8

0.2

2.7

3.8

    Other Revenue

4.2

1.1

5.7

2.4

4.0

Non-Interest Income, Bank

23.3

21.2

22.0

19.6

21.5

    Labor & Related Expenses

-12.2

-10.5

-28.8

-13.9

-10.1

    Depreciation Expense

-2.8

-0.1

-0.7

-1.5

-1.5

    Other Expense

-8.4

-9.3

-7.2

-4.9

-5.5

Non-Interest Expense, Bank

-23.3

-20.0

-36.7

-20.2

-17.1

Income Before Tax

50.0

37.6

23.2

26.6

39.0

 

 

 

 

 

 

Total Income Tax

20.6

18.5

9.6

14.8

18.9

Income After Tax

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

    Minority Interest

-

-

0.0

-

-

Net Income Before Extraord Items

29.4

19.0

13.6

11.8

20.1

Net Income

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

100.1

74.1

74.1

74.1

74.1

Basic EPS Excl Extraord Items

0.29

0.26

0.18

0.16

0.27

Basic/Primary EPS Incl Extraord Items

0.29

0.26

0.18

0.16

0.27

Diluted Net Income

29.4

19.0

13.6

11.8

20.1

Diluted Weighted Average Shares

100.1

74.1

74.1

74.1

74.1

Diluted EPS Excl Extraord Items

0.29

0.26

0.18

0.16

0.27

Diluted EPS Incl Extraord Items

0.29

0.26

0.18

0.16

0.27

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Depreciation, Supplemental

2.8

0.1

0.7

1.5

1.5

Normalized Income Before Tax

50.0

37.6

23.2

26.6

39.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

20.6

18.5

9.6

14.8

18.9

Normalized Income After Tax

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Basic Normalized EPS

0.29

0.26

0.18

0.16

0.27

Diluted Normalized EPS

0.29

0.26

0.18

0.16

0.27

Bank Total Revenue

128.6

120.8

119.8

109.5

108.7

    Current Tax - Domestic

-

18.5

10.1

14.7

18.8

Current Tax - Total

-

18.5

10.1

14.7

18.8

    Deferred Tax - Domestic

-

0.0

-0.4

0.1

0.1

Deferred Tax - Total

-

0.0

-0.4

0.1

0.1

Income Tax - Total

-

18.5

9.6

14.8

18.9

 

 

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

Cash & Due from Banks

846.2

812.9

645.6

596.0

411.2

    Interest-earning Deposits

0.1

0.1

0.1

0.1

0.1

    Total Investment Securities

3,713.7

3,098.7

2,612.9

2,083.5

1,644.0

Other Earning Assets, Total

3,713.9

3,098.8

2,613.0

2,083.6

1,644.1

        Buildings

51.3

50.3

33.1

29.6

27.5

        Land/Improvements

34.8

35.3

22.8

21.0

20.3

        Machinery/Equipment

30.6

25.8

22.2

17.6

14.7

        Construction in Progress

1.0

0.6

0.5

1.0

1.0

        Other Property/Plant/Equipment

0.2

0.0

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

117.9

112.0

78.7

69.1

63.5

    Accumulated Depreciation

-22.0

-18.0

-14.7

-11.8

-9.6

Property/Plant/Equipment - Net

95.9

94.0

64.0

57.3

53.9

    Other Assets

37.7

12.5

27.9

14.3

65.7

Other Assets, Total

37.7

12.5

27.9

14.3

65.7

Total Assets

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

Accounts Payable

42.3

36.8

33.5

25.4

12.9

    Other Deposits

503.7

343.6

300.8

275.5

202.9

Total Deposits

4,100.1

3,490.4

2,899.5

2,365.9

1,903.9

    Long Term Debt

42.6

43.3

43.5

43.1

0.0

Total Long Term Debt

42.6

43.3

43.5

43.1

0.0

Total Debt

42.6

43.3

43.5

43.1

0.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

2.3

2.4

2.0

-

-

Deferred Income Tax

2.3

2.4

2.0

-

-

Minority Interest

0.0

0.0

-

-

-

    Other Liabilities

172.7

155.1

167.8

155.5

113.3

Other Liabilities, Total

172.7

155.1

167.8

155.5

113.3

Total Liabilities

4,360.0

3,727.9

3,146.4

2,589.9

2,030.0

 

 

 

 

 

 

    Common Stock

105.2

89.2

69.0

54.7

50.0

Common Stock

105.2

89.2

69.0

54.7

50.0

Additional Paid-In Capital

0.0

0.0

0.0

0.0

0.0

Retained Earnings (Accumulated Deficit)

158.4

123.2

95.1

69.5

61.8

Unrealized Gain (Loss)

70.0

77.8

39.9

37.1

33.0

Total Equity

333.7

290.3

204.0

161.3

144.9

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

74.1

61.8

61.8

38.0

34.6

Total Common Shares Outstanding

74.1

61.8

61.8

38.0

34.6

Number of Common Shareholders

58,923

52,164

33,686

26,488

26,488

Deferred Revenue - Current

0.0

0.0

0.0

0.0

0.0

Total Long Term Debt, Supplemental

42.6

43.3

43.5

43.1

-

Long Term Debt Maturing within 1 Year

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 2

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 3

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 4

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 5

-

0.0

0.0

0.0

-

Long Term Debt Maturing in 2-3 Years

-

0.0

0.0

0.0

-

Long Term Debt Maturing in 4-5 Years

-

0.0

0.0

0.0

-

Long Term Debt Matur. in Year 6 & Beyond

42.6

43.3

43.5

43.1

-

 

 

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

74.22

72.525

70.475

69.425

69.505

 

 

 

 

 

 

Cash & Due from Banks

956.8

733.0

846.2

894.3

959.7

    Interest-earning Deposits

-

-

0.1

0.1

-

    Total Investment Securities

3,796.9

3,846.8

3,713.7

3,534.3

3,246.7

Other Earning Assets, Total

3,796.9

3,846.8

3,713.9

3,534.4

3,246.7

Property/Plant/Equipment - Net

92.3

95.5

95.9

95.9

94.2

    Other Assets

138.1

45.3

37.7

89.9

56.1

Other Assets, Total

138.1

45.3

37.7

89.9

56.1

Total Assets

4,984.1

4,720.6

4,693.7

4,614.5

4,356.7

 

 

 

 

 

 

Accounts Payable

37.2

36.9

42.3

38.2

34.9

    Other Deposits

496.9

523.1

503.7

449.9

400.0

Total Deposits

4,298.1

4,101.6

4,100.1

3,991.9

3,776.2

    Long Term Debt

40.4

41.4

42.6

43.2

43.2

Total Long Term Debt

40.4

41.4

42.6

43.2

43.2

Total Debt

40.4

41.4

42.6

43.2

43.2

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

2.2

2.2

2.3

2.8

2.6

Deferred Income Tax

2.2

2.2

2.3

2.8

2.6

Minority Interest

0.0

0.0

0.0

-

-

    Other Liabilities

244.7

197.9

172.7

212.7

184.4

Other Liabilities, Total

244.7

197.9

172.7

212.7

184.4

Total Liabilities

4,622.7

4,380.0

4,360.0

4,288.9

4,041.4

 

 

 

 

 

 

    Common Stock

134.8

102.2

105.2

106.8

106.7

Common Stock

134.8

102.2

105.2

106.8

106.7

Additional Paid-In Capital

0.0

0.0

0.0

0.0

0.0

Retained Earnings (Accumulated Deficit)

162.8

172.7

158.4

147.1

135.1

Unrealized Gain (Loss)

63.8

65.6

70.0

71.8

73.5

Total Equity

361.4

340.5

333.7

325.7

315.3

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

4,984.1

4,720.6

4,693.7

4,614.5

4,356.7

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

74.1

74.1

74.1

74.1

74.1

Total Common Shares Outstanding

74.1

74.1

74.1

74.1

74.1

Deferred Revenue - Current

-

-

0.0

0.0

-

 

 

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

Cash Receipts

355.6

309.6

285.0

211.6

162.3

Cash Payments

-2.7

-2.2

-1.9

-1.7

-0.8

Cash Taxes Paid

-46.3

-52.1

-34.8

-29.2

-15.7

    Other Assets

-720.6

-487.6

-522.9

-691.1

-320.6

    Other Liabilities

668.6

583.0

477.7

503.9

359.9

    Other Operating Cash Flow

-203.8

-183.6

-152.1

-128.7

-111.3

Changes in Working Capital

-255.8

-88.2

-197.3

-315.8

-71.9

Cash from Operating Activities

50.8

167.1

51.0

-135.1

73.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-8.2

-4.7

-9.2

-6.3

-5.8

Capital Expenditures

-8.2

-4.7

-9.2

-6.3

-5.8

    Purchase of Investments

-18.6

-43.5

189.5

0.0

-0.3

Other Investing Cash Flow Items, Total

-18.6

-43.5

189.5

0.0

-0.3

Cash from Investing Activities

-26.8

-48.1

180.4

-6.3

-6.2

 

 

 

 

 

 

    Other Financing Cash Flow

-9.6

0.0

0.0

-7.5

0.0

Financing Cash Flow Items

-9.6

0.0

0.0

-7.5

0.0

        Long Term Debt Issued

0.0

0.0

0.0

43.6

0.0

    Long Term Debt, Net

0.0

0.0

0.0

43.6

0.0

Issuance (Retirement) of Debt, Net

0.0

0.0

0.0

43.6

0.0

Cash from Financing Activities

-9.6

0.0

0.0

36.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-

-

-

-

0.0

Net Change in Cash

14.4

118.9

231.3

-105.4

67.6

 

 

 

 

 

 

Net Cash - Beginning Balance

648.9

535.3

538.8

411.6

344.6

Net Cash - Ending Balance

663.3

654.3

658.5

306.2

34.1

Depreciation

5.0

4.0

3.3

2.6

2.1

 

 

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

6 Months

3 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

72.291257

71.32044

69.60265

69.331145

69.264044

 

 

 

 

 

 

Cash Receipts

205.0

99.5

355.6

257.9

168.0

Cash Payments

-1.2

-0.5

-2.7

-1.2

-0.7

Cash Taxes Paid

-25.9

-4.6

-46.3

-39.0

-34.2

    Other Assets

-382.7

-250.8

-720.6

-521.1

-203.2

    Other Liabilities

477.9

125.7

668.6

560.4

321.7

    Other Operating Cash Flow

-108.9

-55.3

-203.8

-137.9

-85.4

Changes in Working Capital

-13.7

-180.4

-255.8

-98.5

33.1

Cash from Operating Activities

164.2

-85.9

50.8

119.2

166.3

 

 

 

 

 

 

    Purchase of Fixed Assets

-4.0

-3.7

-8.2

-6.1

-3.2

Capital Expenditures

-4.0

-3.7

-8.2

-6.1

-3.2

    Sale/Maturity of Investment

0.0

25.5

-

-

-

    Purchase of Investments

-3.9

-

-18.6

-76.4

-58.1

Other Investing Cash Flow Items, Total

-3.9

25.5

-18.6

-76.4

-58.1

Cash from Investing Activities

-7.9

21.8

-26.8

-82.6

-61.3

 

 

 

 

 

 

    Other Financing Cash Flow

0.0

0.0

-9.6

-8.9

-8.9

Financing Cash Flow Items

0.0

0.0

-9.6

-8.9

-8.9

        Long Term Debt Issued

0.0

0.0

0.0

0.0

0.0

    Long Term Debt, Net

0.0

0.0

0.0

0.0

0.0

Issuance (Retirement) of Debt, Net

0.0

0.0

0.0

0.0

0.0

Cash from Financing Activities

0.0

0.0

-9.6

-8.9

-8.9

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-

0.0

0.0

0.0

Net Change in Cash

156.3

-64.1

14.4

27.7

96.1

 

 

 

 

 

 

Net Cash - Beginning Balance

638.6

647.3

648.9

651.4

652.1

Net Cash - Ending Balance

794.9

583.2

663.3

679.1

748.1

Depreciation

-

0.1

5.0

4.3

2.9

 

 

Annual Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Income From General Investment

349.9

308.3

284.2

210.9

161.2

    Investment Income

5.9

1.3

0.8

0.7

1.1

Total Revenue

355.8

309.6

285.0

211.6

162.3

 

 

 

 

 

 

    Profit Paid on Deposits

207.9

189.4

177.3

136.6

116.6

    Loan Loss Provisions

16.0

18.3

16.5

20.1

5.9

Total Operating Expense

223.9

207.7

193.8

156.7

122.5

 

 

 

 

 

 

    Income From Investment In Shares/Securit

7.0

1.7

6.0

4.1

2.0

    Commission, Exchange & Brokerage

57.4

49.8

48.7

37.4

35.7

    Rent On Locker

0.1

0.0

0.0

0.0

0.0

    Telephone/Trunk Call Charge Recoevered

0.4

0.6

0.5

0.5

0.4

    Telex Charge Recovered

-

-

-

0.0

0.1

    P & T Charge Recovered

0.8

0.8

0.8

0.6

0.8

    Legal Expenses Recovered

0.0

0.0

0.1

0.0

0.0

    E & TA Fees Recovered

0.0

0.0

0.0

0.0

0.0

    Income from ATM & Swift

1.5

1.1

1.0

0.8

0.5

    Incidental Charges Recovered

5.4

0.1

0.1

0.1

0.1

    Service Charges Recovered

0.4

0.2

0.1

0.1

0.0

    Rent On Premises Realised

0.0

0.0

0.0

0.0

0.1

    Sale Proceeds Of Tender Schedule

0.0

0.1

0.0

0.0

0.0

    Profit On Sale Of Bank's Premises

-

-

-

-

0.1

    Profit On Sale Of Bank's Car

0.0

0.0

0.1

0.1

0.1

    W/O Investment Recovery

3.7

2.9

2.8

0.9

1.4

    Recruitment Fees Recovered

0.2

0.3

0.1

0.2

0.1

    MICR Cheque Charge Realised

0.0

-

-

-

-

    Brokerage House Income

-

-

-

0.0

-

    Gain On Revaluation Of Securities

-

-

-

0.0

-

    Others

0.7

0.8

1.0

0.5

0.4

    Salary & Allowances

-61.6

-45.6

-41.3

-29.5

-26.9

    Rent, Taxes, Insurances,

-6.0

-1.5

-1.3

-0.9

-0.7

    Legal Expenses

-0.2

-0.2

-0.2

-0.2

-0.2

    Postage, Stamp,

-1.2

-0.5

-0.5

-0.4

-0.4

    Printing & Stationery

-2.1

-1.0

-0.7

-0.6

-0.4

    Chief Executive's Salary & Fees

-0.1

-0.1

-0.1

0.0

0.0

    Directors' Fees & Expenses

-0.1

-0.1

-0.1

-0.1

-0.1

    Shariah Council's Meeting Fees & Expense

0.0

0.0

0.0

-

-

    Auditors' Fees

0.0

0.0

0.0

0.0

0.0

    Insurance

-

-2.1

-1.8

-1.4

-1.1

    Electricity & Lighting

-

-1.3

-1.1

-0.9

-0.7

    Telegram

-

-

-

0.0

0.0

    Swift Charges

-

-0.3

-0.2

-0.2

-0.2

    Telephone

-

-0.4

-0.5

-0.6

-0.6

    Fax & Internet

-

-0.1

-0.1

0.0

0.0

    Stamps

-

0.0

0.0

0.0

0.0

    Paper & Table Stationery

-

-0.2

-0.2

-0.2

-0.1

    Advertisement & Publicity

-

-0.4

-0.6

-0.4

-0.6

    Depreciation and Repair of

-5.0

-4.0

-3.3

-2.6

-2.1

    Other Expenses

-7.7

-5.3

-5.7

-7.4

-4.9

    Bank Charges

-0.3

-0.2

-0.1

0.0

0.0

    Staff Welfare

-0.1

0.0

-0.3

0.0

-0.2

    Gain On Revaluation Reserve Of Securitie

-

-

-

0.0

-

    Zakat Expenses

-3.2

-2.5

-1.9

-

-

Total Non-Interest Revenue

77.8

58.4

61.4

45.4

41.9

 

 

 

 

 

 

Total Non-Interest Expense

-87.7

-65.9

-60.0

-45.4

-39.3

 

 

 

 

 

 

Net Income Before Taxes

122.0

94.4

92.6

54.9

42.3

 

 

 

 

 

 

Provision for Income Taxes

57.5

45.1

53.6

34.2

21.9

Net Income After Taxes

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

    Minority Interest

0.0

0.0

-

-

-

Net Income Before Extra. Items

64.4

49.3

39.0

20.7

20.4

Net Income

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

64.4

49.3

39.0

20.7

20.4

 

 

 

 

 

 

Basic Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Basic EPS Excluding ExtraOrdinary Items

0.87

0.67

0.63

0.44

5.36

Basic EPS Including ExtraOrdinary Items

0.87

0.67

0.63

0.44

5.36

Diluted Net Income

64.4

49.3

39.0

20.7

20.4

Diluted Weighted Average Shares

74.1

74.1

61.8

47.5

3.8

Diluted EPS Excluding ExtraOrd Items

0.87

0.67

0.63

0.44

5.36

Diluted EPS Including ExtraOrd Items

0.87

0.67

0.63

0.44

5.36

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

118.2

91.5

89.6

53.9

40.8

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

55.8

43.7

51.9

33.8

21.1

Normalized Income After Taxes

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

62.5

47.8

37.8

20.1

19.6

 

 

 

 

 

 

Basic Normalized EPS

0.84

0.64

0.61

0.42

5.16

Diluted Normalized EPS

0.84

0.64

0.61

0.42

5.16

Depreciation, Supplemental

5.0

4.0

3.3

2.6

2.1

Advertising Expense, Supplemental

0.9

0.4

0.6

0.4

0.6

Rental Expense, Supplemental

2.1

1.5

-

-

-

    Current Tax

57.6

44.7

53.2

24.7

21.7

Current Tax - Total

57.6

44.7

53.2

24.7

21.7

    Deferred Tax

0.0

0.4

0.4

0.5

0.3

Deferred Tax - Total

0.0

0.4

0.4

0.5

0.3

Income Tax - Total

57.5

45.1

53.6

25.1

21.9

 

 

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

73.267903

71.32044

70.399892

69.465054

69.278871

 

 

 

 

 

 

    Investment income

105.4

99.5

97.8

89.8

87.1

Total Revenue

105.4

99.5

97.8

89.8

87.1

 

 

 

 

 

 

    Profit Paid on Deposits

56.8

57.1

57.0

54.7

47.4

    Loan Loss Provisions

-1.5

6.1

2.9

8.0

5.2

Total Operating Expense

55.3

63.2

59.8

62.7

52.6

 

 

 

 

 

 

    Income From Investment In Shares/Securit

0.8

0.8

0.2

2.7

3.8

    Commission, Exchange & Brokerage

18.3

19.3

16.0

14.6

13.8

    Others

4.2

1.1

5.7

2.4

4.0

    Salary & Allowances

-12.2

-10.5

-28.8

-13.9

-10.1

    Rent, Taxes, Insurances,

-2.3

-0.8

-2.3

-1.0

-2.0

    Legal Expenses

0.0

0.0

-0.1

0.0

0.0

    Postage, Stamp,

-0.4

-0.2

-0.4

-0.3

-0.3

    Printing & Stationery

-0.5

-0.2

-1.4

-0.4

-0.3

    Chief Executive's Salary & Fees

0.0

0.0

0.0

0.0

0.0

    Directors' Fees & Expenses

-0.1

0.0

0.0

0.0

-0.1

    Auditors' Fees

-

0.0

0.0

0.0

0.0

    Depreciation and Repair of

-2.8

-0.1

-0.7

-1.5

-1.5

    Other Expenses

-2.0

-8.0

-1.8

-2.5

-2.1

    Changes in Fair Value of Securities

-1.5

-

-

-

-

    Zakat Expenses

-1.5

0.0

-1.3

-0.6

-0.6

    Shariah Council's Meeting Fees & Expense

0.0

0.0

0.0

0.0

0.0

    Other Provision

-

-

0.0

0.0

-

Total Non-Interest Revenue

23.3

21.2

22.0

19.6

21.5

 

 

 

 

 

 

Total Non-Interest Expense

-23.3

-20.0

-36.7

-20.2

-17.1

 

 

 

 

 

 

Net Income Before Taxes

50.0

37.6

23.2

26.6

39.0

 

 

 

 

 

 

Provision for Income Taxes

20.6

18.5

9.6

14.8

18.9

Net Income After Taxes

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

    Minority Interest

-

-

0.0

-

-

Net Income Before Extra. Items

29.4

19.0

13.6

11.8

20.1

Net Income

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Basic Weighted Average Shares

100.1

74.1

74.1

74.1

74.1

Basic EPS Excluding ExtraOrdinary Items

0.29

0.26

0.18

0.16

0.27

Basic EPS Including ExtraOrdinary Items

0.29

0.26

0.18

0.16

0.27

Diluted Net Income

29.4

19.0

13.6

11.8

20.1

Diluted Weighted Average Shares

100.1

74.1

74.1

74.1

74.1

Diluted EPS Excluding ExtraOrd Items

0.29

0.26

0.18

0.16

0.27

Diluted EPS Including ExtraOrd Items

0.29

0.26

0.18

0.16

0.27

DPS-Common Stock

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

50.0

37.6

23.2

26.6

39.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

20.6

18.5

9.6

14.8

18.9

Normalized Income After Taxes

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

29.4

19.0

13.6

11.8

20.1

 

 

 

 

 

 

Basic Normalized EPS

0.29

0.26

0.18

0.16

0.27

Diluted Normalized EPS

0.29

0.26

0.18

0.16

0.27

Depreciation, Supplemental

2.8

0.1

0.7

1.5

1.5

    Current Tax

-

18.5

10.1

14.7

18.8

Current Tax - Total

-

18.5

10.1

14.7

18.8

    Deferred Tax

-

0.0

-0.4

0.1

0.1

Deferred Tax - Total

-

0.0

-0.4

0.1

0.1

Income Tax - Total

-

18.5

9.6

14.8

18.9

 

 

Annual Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Cash in hand

53.7

35.8

45.1

41.8

20.4

    Bank Balance

500.4

505.4

409.6

203.7

320.0

    Financial Institutions

53.0

84.6

19.1

33.8

11.0

    Financial Institutions-Outside Banglades

48.0

26.3

62.5

23.8

8.2

    Investments in Shares &

165.6

160.4

109.0

292.5

51.2

    Investments in Shares &-Other

25.6

0.4

0.4

0.3

0.3

    General Investment

3,452.1

2,929.3

2,464.5

1,924.8

1,544.5

    Bills Purchased & Discontinued

261.7

169.4

148.4

158.7

99.5

    Land

34.8

35.3

22.8

21.0

20.3

    Building

51.3

50.3

33.1

29.6

27.5

    Construction/Work-in-process

1.0

0.6

0.5

1.0

1.0

    Furniture & Fixtures

6.2

5.5

4.8

4.2

3.7

    Mechanical Applicants & Cost Of Software

19.0

15.4

12.8

10.0

8.0

    Motor Vehicles

5.3

5.0

4.6

3.3

3.0

    Books

0.0

0.0

0.0

0.0

0.0

    Others

0.1

0.0

-

-

-

    Depreciation

-22.0

-18.0

-14.7

-11.8

-9.6

    Stock Of Stationery In Hand

1.1

0.8

0.8

0.6

0.5

    Stamps In Hand

0.1

0.1

0.0

0.0

0.0

    Advances Rent Paid

2.8

2.1

1.8

1.6

1.4

    Security Deposits

0.1

0.1

0.1

0.1

0.1

    Suspenses Accounts

10.5

7.5

4.5

4.9

5.1

    D.D Paid without Advice

-

-

-

0.4

5.2

    Accrued Income

4.6

2.0

5.9

2.9

0.0

    Deferred Revenue

0.0

0.0

0.0

0.0

0.0

    IB General Accounts

14.7

0.0

0.5

0.0

47.6

    F.C Clearing

3.2

0.0

14.3

3.8

5.9

    Other Assets

0.8

0.0

-

-

-

Total Assets

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

    Mudaraba Savings Deposits

1,577.1

1,372.8

1,124.6

897.2

754.4

    Mudaraba Term Deposits

725.9

653.6

532.7

447.2

374.5

    Other Mudaraba Deposits

1,293.5

1,120.5

941.4

746.0

572.1

    Current and Other Accounts

503.7

343.6

300.8

275.5

202.9

    Bills Payable

42.3

36.8

33.5

25.4

12.9

    Other liabilities

172.7

155.1

167.8

155.5

113.3

    Mudaraba Perpetual Bond

42.6

43.3

43.5

43.1

0.0

Total Long Term Debt

42.6

43.3

43.5

43.1

0.0

 

 

 

 

 

 

    Deferred Tax Liabilities

2.3

2.4

2.0

-

-

    Minority Interest

0.0

0.0

-

-

-

Total Liabilities

4,360.0

3,727.9

3,146.4

2,589.9

2,030.0

 

 

 

 

 

 

    Paid - up Capital

105.2

89.2

69.0

54.7

50.0

    Share Premium

0.0

0.0

0.0

0.0

0.0

    Statutory Reserve

112.6

90.2

71.7

52.8

32.9

    General/Other Reserves

8.7

6.3

2.8

3.0

16.4

    Assets Rev. Reserves

61.2

62.3

33.0

32.7

33.0

    Revaluation Reserves Of Securities

8.8

15.6

6.9

4.4

0.0

    Retained Earnings including

37.1

26.8

20.7

13.7

12.5

Total Equity

333.7

290.3

204.0

161.3

144.9

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

4,693.7

4,018.2

3,350.4

2,751.2

2,174.9

 

 

 

 

 

 

    S/O-Common Stock

74.1

61.8

61.8

38.0

34.6

Total Common Shares Outstanding

74.1

61.8

61.8

38.0

34.6

Deferred Revenue - Current

0.0

0.0

0.0

0.0

0.0

Number of Common Shareholders

58,923

52,164

33,686

26,488

26,488

Long Term Debt Maturing within 1 Year

-

0.0

0.0

0.0

-

Long Term Debt Maturing in Year 5

-

0.0

0.0

0.0

-

Long Term Debt - Remaining Maturities

42.6

43.3

43.5

43.1

-

Total Long Term Debt, Supplemental

42.6

43.3

43.5

43.1

-

 

 

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

74.22

72.525

70.475

69.425

69.505

 

 

 

 

 

 

    Cash in hand

64.1

49.3

53.7

46.7

44.3

    Bank Balance

565.5

397.0

500.4

461.8

567.0

    Financial Institutions

87.2

71.2

53.0

133.4

110.2

    Financial Institutions-Outside Banglades

57.4

56.0

48.0

36.3

24.1

    Investments in Shares &

161.3

130.9

165.6

211.8

213.4

    Investments in Shares-Others

21.3

28.5

25.6

4.3

0.8

    General Investment

3,541.2

3,563.0

3,452.1

3,311.5

3,038.1

    Bills Purchased & Disconted

255.6

283.8

261.7

222.8

208.7

    Fixed Asset Including Premises

92.3

95.5

95.9

95.9

94.2

    Stock Of Stationery In Hand

-

-

1.1

2.0

-

    Stamps In Hand

-

-

0.1

0.1

-

    Advances Rent Paid

-

-

2.8

2.6

-

    Security Deposits

-

-

0.1

0.1

-

    Suspenses Accounts

-

-

10.5

11.3

-

    Accrued Income

-

-

4.6

5.0

-

    Deferred Revenue

-

-

0.0

0.0

-

    IB General Accounts

-

-

14.7

26.3

-

    F.C Clearing

-

-

3.2

-

-

    Other Assets

138.1

45.3

0.8

-

56.1

    Advance Income Tax

-

-

-

40.8

-

    Receivables against RDS

-

-

-

1.8

-

Total Assets

4,984.1

4,720.6

4,693.7

4,614.5

4,356.7

 

 

 

 

 

 

    Mudaraba Savings Deposits

1,617.7

1,559.9

1,577.1

1,544.2

1,455.7

    Mudaraba Term Deposits

871.3

759.5

725.9

735.0

709.8

    Other Mudaraba Deposits

1,312.2

1,259.1

1,293.5

1,262.7

1,210.6

    Current and Other Accounts

496.9

523.1

503.7

449.9

400.0

    Bills Payable

37.2

36.9

42.3

38.2

34.9

    Other liabilities

244.7

197.9

172.7

212.7

184.4

    Mudaraba Perpetual Bond

40.4

41.4

42.6

43.2

43.2

Total Long Term Debt

40.4

41.4

42.6

43.2

43.2

 

 

 

 

 

 

    Deferred Tax Liability

2.2

2.2

2.3

2.8

2.6

    Minority Interest

0.0

0.0

0.0

-

-

Total Liabilities

4,622.7

4,380.0

4,360.0

4,288.9

4,041.4

 

 

 

 

 

 

    Paid - up Capital

134.8

102.2

105.2

106.8

106.7

    Share Premium

0.0

0.0

0.0

0.0

0.0

    Statutory Reserve

106.9

109.4

112.6

89.9

89.8

    General/Other Reserves

8.3

8.5

8.7

6.3

6.3

    Assets Rev. Reserves

58.1

59.5

61.2

62.1

62.1

    Revaluation Reserves Of Securities

5.7

6.1

8.8

9.7

11.5

    Retained Earnings June-2011

47.6

-

0.0

-

-

    Retained Earnings

0.0

54.8

37.1

50.8

39.0

Total Equity

361.4

340.5

333.7

325.7

315.3

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

4,984.1

4,720.6

4,693.7

4,614.5

4,356.7

 

 

 

 

 

 

    S/O-Common Stock

74.1

74.1

74.1

74.1

74.1

Total Common Shares Outstanding

74.1

74.1

74.1

74.1

74.1

Deferred Revenue - Current

-

-

0.0

0.0

-

 

Annual Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal
31-Dec-2009

Restated Normal
31-Dec-2008

Updated Normal
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

 

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Howladar Yunus & Co.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

Unqualified with Explanation

 

 

 

 

 

 

    Cash Receipts

355.6

309.6

285.0

211.6

162.3

    Cash Payments

-2.7

-2.2

-1.9

-1.7

-0.8

    Cash Taxes Paid

-46.3

-52.1

-34.8

-29.2

-15.7

    Payments to employees

-61.7

-45.7

-41.4

-29.6

-26.9

    Profit Paid on Deposits

-198.6

-184.3

-155.4

-129.9

-116.6

    Income/ Dividend receipt from Investment

4.6

3.9

3.0

1.2

2.0

    Fees & Commission receipt in Cash

57.4

49.8

48.7

37.4

35.7

    Recoveries On Investment Previously W/O

3.7

2.9

2.8

0.9

-

    Receipts from other Operating Activities

9.5

4.1

4.0

2.9

4.2

    Payments from other Operating Activities

-18.7

-14.3

-13.7

-11.6

-9.6

    Investments to Customers

-676.8

-500.7

-512.3

-455.2

-289.9

    Investment In Shares & Securities

-

-

-

-290.4

-

    Other Assets

-43.8

13.1

-10.6

54.4

-30.7

    Deposits from other Banks

0.8

1.0

-0.6

3.4

1.7

    Deposits received from Customers

683.7

595.4

474.8

482.2

356.7

    Other Liabilities

-15.9

-13.4

3.5

18.4

1.6

Cash from Operating Activities

50.8

167.1

51.0

-135.1

73.8

 

 

 

 

 

 

    Payment for Purchase Of Securities/BGIIB

-14.4

-43.5

189.5

0.0

-0.3

    Purchase/Sale Of Property,Plant & Equipm

-8.2

-4.7

-9.2

-6.3

-5.8

    Payment for Purchase Of Securities/Membe

-4.2

0.0

-

-

-

Cash from Investing Activities

-26.8

-48.1

180.4

-6.3

-6.2

 

 

 

 

 

 

    Receipts from Issue Of Loan Capital/Debt

0.0

0.0

0.0

43.6

0.0

    Dividend Paid

-9.6

0.0

0.0

-7.5

0.0

Cash from Financing Activities

-9.6

0.0

0.0

36.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-

-

-

-

0.0

Net Change in Cash

14.4

118.9

231.3

-105.4

67.6

 

 

 

 

 

 

    Depreciation

5.0

4.0

3.3

2.6

2.1

Cash,Begining Of Year

648.9

535.3

538.8

411.6

344.6

Cash,End Of Year

663.3

654.3

658.5

306.2

34.1

 

 

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

6 Months

3 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

72.291257

71.32044

69.60265

69.331145

69.264044

 

 

 

 

 

 

    Cash Receipts

205.0

99.5

355.6

257.9

168.0

    Cash Payments

-1.2

-0.5

-2.7

-1.2

-0.7

    Cash Taxes Paid

-25.9

-4.6

-46.3

-39.0

-34.2

    Payments to employees

-22.7

-10.5

-61.7

-32.6

-18.8

    Profit Paid on Deposits

-114.0

-57.1

-198.6

-150.9

-96.2

    Income/ Dividend receipt from Investment

1.6

0.8

4.6

6.9

4.2

    Fees & Commission receipt in Cash

37.6

19.3

57.4

39.2

26.1

    Recoveries On Investment Previously W/O

0.4

0.1

3.7

2.1

0.7

    Receipts from other Operating Activities

4.9

1.0

9.5

7.6

5.2

    Payments from other Operating Activities

-16.7

-8.8

-18.7

-10.2

-6.6

    Investments to Customers

-277.7

-242.1

-676.8

-443.5

-159.5

    Other Assets

-105.0

-8.7

-43.8

-77.5

-43.7

    Deposits from other Banks

3.6

0.0

0.8

1.4

2.7

    Deposits received from Customers

409.0

115.1

683.7

510.7

294.7

    Other Liabilities

65.2

10.6

-15.9

48.4

24.3

Cash from Operating Activities

164.2

-85.9

50.8

119.2

166.3

 

 

 

 

 

 

    Sale of Securities/Membership

0.0

25.5

-

-

-

    Payment for Purchase Of Securities/BGIIB

-3.9

-

-14.4

-76.4

-58.1

    Purchase/Sale Of Property,Plant & Equipm

-4.0

-3.7

-8.2

-6.1

-3.2

    Payment for Purchase Of Securities/Membe

-

-

-4.2

-

-

Cash from Investing Activities

-7.9

21.8

-26.8

-82.6

-61.3

 

 

 

 

 

 

    Receipts from Issue Of Loan Capital/Debt

0.0

0.0

0.0

0.0

0.0

    Dividend Paid

0.0

0.0

-9.6

-8.9

-8.9

Cash from Financing Activities

0.0

0.0

-9.6

-8.9

-8.9

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-

0.0

0.0

0.0

Net Change in Cash

156.3

-64.1

14.4

27.7

96.1

 

 

 

 

 

 

    Depreciation

-

0.1

5.0

4.3

2.9

Cash,Begining Of Year

638.6

647.3

648.9

651.4

652.1

Cash,End Of Year

794.9

583.2

663.3

679.1

748.1

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.