SIBL Annual Report 2012...Annual Report 2012 v5Standard Disclosure Checklist to the key sections of...

1 Annual Report 2012

2 Social Islami Bank Limited

Standard Disclosure Checklist 5Letter of transmittal 9SIBL Brand Values 10Our Vision 11Our Mission 12Strategic Objectives and commitments 13Code of Conducts and ethical principles 14Corporate profile 16Milestones 18

Board and Committees 19(i) Founder of the Bank 20(ii) Sponsors of SIBL 21(iii) Board of Directors 22(iv) Directors’ Profile 23(v) Executive Committee 26(vi) Audit Committee 26(vii) Shariah Supervisory Committee 26

Management & Committees 27(i) Present Management Team 28(ii) Core Decision Making Committee 29(iii) Asset Liability Committee 29(iv) Tender Evaluation Committee 29(v) MRS (Management Reporting System) Committee 30(vi) Investment Committee 30(vii) MANCOM 30

Functions of Social Islami Bank Limited 31Corporate Structure 32 Products and Services 34Media Accolade 35

Stakeholders’ Information 36(i) Capital Pattern of SIBL 37(ii) Pattern of Shareholding 37(iii) Distributions of Shareholder by holding in 2012 38(iv) Shares held by the Directors in 2012 38(v) Financial Calendar 39

Analysis & Value Added Statements 40(i) Performance of the Bank 41(ii) SIBL at a Glance 42(iii) Graphical Presentation of SIBL 43(iv) Report & Statements of Value addition and its Distributions. 46(v) Economic Value Added (EVA) Statements 48(vi) Market Value Added (MVA) Statements 49

Responsibility Statements 49Chairman’s Foreword 50From the Desk of the Managing Director 54Management report & Analysis 58Competence Recognised 59Report of the Board of Directors 61Compliance Report under Condition no: 7.00 of BSEC 99The Report of Audit Committee of the Board 106Report on Risk Management 107 Market Disclosure under Pillar-III of BASEL-II 11017th Annual General Meeting Highlights 121SIBL Events 123Corporate Finance 131SME Finance 132Promoting Sports 133Report of the Shariah Supervisory Committee 135

Auditors’ Report and financial statements to the Shareholders for the year ended 31st December 2012 136SIBL Network 220Notice of the 18th Annual General Meeting 225Form of Proxy 227

CONTENTS

Standard Disclosure Checklist to the key sections of the Annual Report 2012

Items Ref. Page No

Corporate Objectives, Values & Structure

Clarity and Presentation

Vision and Mission 11,12

Overall Strategic Objectives 13

Core Values and Code of Conduct / Ethical Principles 10,14,15

Management Report / Commentary and Analysis including Director’s Report/Chairman’s Review/CEO’s Review etc.

41, 58

67-80, 87-97

78, 107-109

Social Responsibility initiatives (CSR) 93-96

health and safety) 89

Appropriateness of Discloser of Accounting policies and General Discloser

150-158, 218-219

Segment Information

Items Ref. Page No

Turnover

Financial Statements

82, 205

80, 146

Disclosures of types of Share Capital 211

139-143

150-219

Information about Corporate Governance

82, 106

26, 81

75-76, 91-96

49, 58, 83

49, 106

Stakeholders Information

38, 85

Items Ref. Page No

Graphical /Pictorial Data

Earnings per Share

Horizontal/Vertical Analysis including the following

Total Revenue

Statement of Financial Position (Balance sheet)

179-182

Price Earning ratio 45

Current ratios 58

Statement of Value Added and its Distribution

Shareholders as Dividend

Retrained by the entity

Items Ref. Page No

Additional Disclosures

Human Resource Accounting

Disclosure of Ratings given by various rating agencies 42, 82

169-171

112-116

Business Ratio / Information

70,160

Return on Average asset 43

Dividend Cover Ratio 45

146, 169-170

Disclosure under regulatory guidelines 99-105, 110-120

163-166

220-224

Subject:

Md. Humayun Kabir, ACS

Honestyregulators, shareholders and others.

Accountability-accountable to the

Transparency-transparent in each and

Flexibility

Innovation-continuous innovative idea

products and services.

Reliability-developing a wide scale public

Security-protecting assets and services

Technology-providing upgraded technological

Our Strategic Objectives

resources.

To invest in the priority sector for the overall

Ensure best CSR (Corporate Social Responsibilities) practices.

Our Commitments

To the Shariah

To the Regulators

To the Shareholders

Strategic Objectives & Commitments

Code of Conduct & Ethical PrinciplesCode of Conduct for the Employees

Adhere to the Shariah Principles.

their positions and titles,

for the trading purposes.

Chartered Accountants

Milestones

Starting of 1st

Opening of 50th

Opening of 75th

Opening of 86th

Founder of the Bank

Board of Directors

Executive Committee

Audit Committee

Shariah Supervisory Committee

Board & Committees

Founder of the Bank

The Architect of 'Three Sector Banking Model'

Prof. Dr. M.A. Mannan

Foreign Sponsors

1. 1. Prof. Dr. M. A. Mannan, MA (Econ) (Michigan), Ph.D.

3. 3. Dr. Md. Jahangir Hossain

7. Dr. Abalet Djabiev 7.

13. Mr. Abdul Awal Patwary

30. Mr. Sadat Sobhan

Board of Directors

Chairman

14.11.2012 in the 277th

Alhaj Sk. Mohammad Rabban Ali Vice Chairman

years. Mr. Ali has widely traveled in several countries in connection with business and participated in different trade fairs. Currently he is the Managing Director of

Mr. Md. Sayedur Rahman Vice Chairman

and engaged in various social activities in the country.

Director

engaged in various social activities as a philanthropist.

Alhaj Sultan Mahmood ChowdhuryDirector

with various religious, social and welfare activities. Currently he is the Managing

Mr. Abdul Awal Patwary Director

Alhaj NasiruddinDirector

Mr. Mohammad AzamDirector

as Director, he is associated with various social welfare activities in Chittagong as well as other parts of the country. Currently he is also the Proprietor of M/S.

Mr. Mohammad Fazlay Morshed Director

Mr. A. Jabbar Mollah Independent Director

Executive Committee

Audit Committee

Shariah Supervisory Committee

Present Management Team

Core Decision Making Committee (CDMC)

Tender Evaluation Committee

MRS (Management Reporting System) Committee

Investment Committee

MANCOM

Management &

Committees

Present Management Team Managing Director Deputy Managing Director

Principal

Senior Executive Vice President Executive Vice President

Mr. Ziauddin Sawlet Ghani

Senior Vice President Vice President

Mr. Mahbub Hossain

Mr. Md. Abdul MottalebMr. Md. Towhid Hossain

Mr. Md. Mesbahul

Core Decision Making Committee

Tender Evaluation Committee

MRS (Management Reporting System) Committee

Investment Committee

MANCOM

Deposit

procurement &

management under

Shariah

Principles

Investment using Islamic

FinancialContract

Functions of

Social Islami

Bank Limited.

Financial Services

i.e. Letter of Credit,

Guarantee, Money

Transfer etc.

Social Services

Functions of Social Islami Bank Limited

Board of Directors

Managing Director

Executive Committee ofthe Board of Directors

BoardSecretariat

BoardAudit Cell

Board Affairs Shares

SEVP/EVP (ChittagongRegional Office)

Deputy ManagingDirector

Support Service

Software Development& Maintenance

Security & Compliance

RMG & Textile Division IT Division

International Division

Central Bank & OtherRegulatory Approval

SWIFT Operation

Correspondent Banking

Remittance

Marketing, Branding andCommunication Division Treasury Front Office

Foreign & Local CurrencyBusiness Dealing

Exchange Rate Fixation& Profit Rate Fixation

Foreign Remittance Cell

Card Division

MIS/R&D

Retail & TradeFinance Division

Centralized TradeProcessing Unit

Investment RiskManagement Division

Premises, Decoration& Dead Stock

Printing , Stationery& Stores

Approval Unit(Corporate, /Retail/RMG)

Administration Unit

Monitoring Unit

CentralizedClearing Unit

Marketing

Branding

Communication

Market Research

Products Development

Corporate CustomerRelationship Department

AlternativeDelivery Channel

Centralized RemittanceProcessing Unit

Board Audit Committee

MD’s Secretariat

AdministrativeUnit

Vigilance &Inspection Unit

Shariah SupervisoryCommittee Secretariat

Member Secretary

Muraquib

Internal Control &Compliance Division

Human ResourcesDivision

SME & AgriculturalFinance Division

SME (Relationship) Agriculture

(Relationship)

HR PersonnelManagement

HR Policy

HR Training

Audit & Inspection Unit

Monitoring Unit

Compliance Unit

Branches Control & General Banking Division

Deputy ManagingDirector

Treasury Back Office Special AssetManagement Division

Logistic Support Division Financial AdministrationDivision

FC & Taka DealingReconciliation

Nostro A/c Management& Reconciliation

Statement & Returns

Budget & FinancialControl

Reconciliation

Central Accounts

ALCO Desk

B. Bank Returns

Basel-IIImplementation Cell

Transport &Maintenance

Risk Management Unit Legal Affairs

Recovery Cell Affairs

Daily Statement ofTreasury Operations

Vouchers &Profit/Loss Findings

(Treasury Mid Office)Foreign Currency

Market InformationAnalysis & Strategy

MIS of TreasuryOperations

AML Unit

Security Services

Monitoring Unit CTR/STR

Disciplinary Action Cell

Products & ServicesDeposit Products

Mudaraba Savings Account

Investment Products Mudaraba Quard

Service Products ATM 24/ 7

Year Declaration No. of Share

Face Value per Share

(Taka)

Cumulative no. of

Shares

Value of issued Capital

for the year (Taka)

Cumulative value of

Capital (Taka)

1995 Initial Capital 118,380 1,000 118,380 118,380,000 118,380,000

1996 - - 118,380 - 118,380,000

1997 7,620 1,000 126,000 7,620,000 126,000,000

1998 - - 126,000 - 126,000,000

1999 Capital Raised 74,000 1,000 200,000 74,000,000 200,000,000

50,000 1,000 250,000 50,000,000 250,000,000

Initial Public Offer 10,000 1,000 260,000 10,000,000 260,000,000

2001 - - 260,000 - 260,000,000

2002 - - 260,000 - 260,000,000

2003 - - 260,000 - 260,000,000

2004 325,000 1,000 585,000 325,000,000 585,000,000

2005 - - 585,000 - 585,000,000

2006 - - 585,000 - 585,000,000

2007 5,345,550 100 11,195,550 534,555,000 1,119,555,000

2008 1,903,243 100 13,098,793 190,324,300 1,309,879,300

1,309,879

100 14,408,672 130,987,900 1,440,867,200

12,508,587 100 26,917,259 1,250,858,700 2,691,725,900

2010 2,960,899 100 29,878,158 296,089,850 2,987,815,750

41,829,420 10 340,610,995 418,294,200 3,406,109,950

298,781,575 10 39,392,570 2,987,815,750 6,393,925,700

Pattern of Shareholdings

Sl No Investor GroupNumber of

Shareholders as on

31.12.2012

Number of Shares as on

31.12.2012

Percentage as on

31.12.2012

Number of Shareholders

as on 31.12.2011

31.12.2011Percentage as on 31.12.2011

01 25 14,65,10,956 22.91% 33 11,69,06,656 18.28%02. 8 40,20,633 0.63% 8 41,79,633 0.65%03. 5 5,26,70,209 8.24% 5 2,63,14,284 4.12%04. General Public 77957 33,34,70,339 52.15% 92,207 40,09,61,676 62.71%

05. 69 2,18,74,567 3.42% 67 3,61,98,496 5.66%

06. Institutions (Others) 346 7,36,48,501 11.52% 423 4,45,18,801 6.96%07. 76 33,83,041 0.53% 83 40,23,950 0.63%08. 2 2,56,216 0.04% 1 13,97,466 0.22%09. 2 30,79,046 0.48% 1 44,90,546 0.70%10. 9 2,38,781 0.04% 9 1,60,781 0.03%11. 14 2,40,281 0.04% 14 2,40,281 0.04%

78,513 63,93,92,570 100.00% 92,851 63,93,92,570 100.00%

Distribution of Shareholders by holdings in 2012

Share holding rangeNumber of

Shareholders as on

31.12.2012

Percentage as on

31.12.2012

Number of Shareholders

as on 31.12.2011

31.12.2011

Percentage as on

31.12.2011

33,009 6530028 1.02% 32,742 7,229,892 1.13%

501-5000 38,886 65621940 10.26% 50,838 86,927,237 13.60%

5001-10000 3,496 24935347 3.90% 4,837 34,598,134 5.41%

10001-20000 1,724 23,145,340 3.62% 2,407 32,642,39 5.11%

20001-50000 854 24,988,897 3.91% 1,281 38,655,537 6.05%

50001-99999999999 544 494,171,018 77.29% 746 439,339,38 68.71%

78,513 639,392,570 100.00% 92,851 639,392,570 100.00%

Shares held by the Directors in 2012

Sl no Name of the Director Position held in the Bank as on 31.12.2012

Number of Shares held on

31.12.2012

Percentage of total holding

Total number of Shares as on

31.12.2012

01. 1,27,87,934 2.00%

639,392,570

02. 1,28,20,000 2.01%

03. 1,27,88,686 2.00%

04. Director 1,27,88,629 2.00%

05. Director 1,27,88,275 2.00%

06. Mr. Abdul Awal Patwary Director 1,27,94,016 2.00%

07. Director 1,27,90,615 2.00%

08. Director 1,27,88,095 2.00%

09. Director 3,20,00,000 5.00%

10. Mr. A Jabbar Mollah Independent Director

26,57,002 0.42%

Total 13,70,03,252 21.43%

Financial Calendar

Year 2012st Quarter announced on 31.05.2012

nd Quarter announced on 22.07.2012

rd Quarter announced on 31.10.2012

approved on11.05.2013

Declaration of Dividend for the year 2013 11.05.2013

Declaration of Record date for holding of 18th Annual General Meeting 22.05.2013

th Annual General Meeting Served on 28.05.2013

18th Annual General Meeting to be held on 22.06.2013

Dividend for the year 2012 to be paid on 21.07.2013

Year 2013 st Quarter to be announced on 15.05.2013nd Quarter to be announced on 31.07.2013rd Quarter to be announced on 30.10.2013

approved on30.03.2014

30.03.2014th Annual General Meeting 11.04.2014

th 25.04.2014

19th 13.05.2014

10.06.2014

Performance of the Bank

Reports & Statements of Value Addition and its Distribution

Economic Value Added (EVA) Statements

Market Value Added (MVA) Statements

Analysis & Value Added Statements

Performance of the Bank

encouraging towards the journey for the year of 2013.

Indicators Target 2012 Actual- 2012 Actual-2011 Achievement percentage

Growth %

Deposits 86000.00 81091.39 56661.16 94.29% 43.12%

75000.00 76024.97 53908.58 103.70% 41.03%

196500.00 126519.90 108308.40 64.39% 16.81%

4600.00 3617.82 2768.80 85.04% 30.66%

Sl No. Particulars 2005 2006 2007 2008 2009 2010 2011 2012

01 4000.00 4000.00 4000.00 4000.00 4000.00 10000.00 10000.00 10000.00

02 Paid-up Capital 585.00 585.00 1119.55 1309.88 2691.72 2987.81 6393.92 6393.92

03 923.07 980.70 1665.29 1867.36 3555.75 4198.77 9412.21 10181.97

04 1065.42 1128.03 1870.94 2168.22 3914.62 4678.56 9534.52 10596.51

05 Total Deposits 16862.58 16170.51 19753.94 24099.82 31588.16 44850.77 66852.55 93594.29

06 Client Deposits 14341.95 16046.72 18706.54 22065.79 27663.62 39833.37 56661.16 81091.39

07 15096.83 15312.90 16440.26 19951.30 26580.58 36680.28 53908.58 76024.97

08Securities)

501.06 501.06 558.45 853.46 1310.66 3049.72 5241.36 6144.01

09 17438.07 23280.00 23903.8 33363.20 39110.00 61931.00 108308.30 126519.90

10 213.57 295.89 480.78 787.37 1064.31 1638.63 2768.80 3617.82

11 54.20 120.23 212.92 354.81 726.88 1136.69 1901.28 2747.89

12 153.80 137.48 132.03 443.28 649.61 914.74 2134.87 2249.95

13 Total Assets 20358.81 19691.53 24546.55 29808.88 39980.82 55168.54 84406.18 115165.95

14Cash Dividend

-10.50%

10.00%05.00%

15total deposits

89.53% 94.70% 83.23% 82.79% 84.15% 81.78% 80.63% 81.23%

16Client deposits

105.26% 95.43% 87.89% 90.42% 96.08% 92.08% 94.65% 89.19%

17 6.77% 7.19% 10.71% 10.87% 14.97% 9.33% 13.17% 11.52%

18 7.54% 4.92% 4.93% 4.38% 3.19% 4.76% 3.93% 3.33%

19Correspondents

3575 2366 2480 2200 2250 2250 2250 2230

20 686 674 674 750 950 1252 1375 1625

21 24 24 24 28 52 64 76 86

22 1000 1000 100 100 100 10 10 10

23 Earning per Share 24 9.85 17.60 17.20 18.39 2.15 1.81 2.25

24 Credit Rating by

ST-3 ST-3A-

ST-2 ST-2 ST-2 ST-2AA-

9,412.21

Client Deposit (Taka in million)

Foreign Exchange Business (Taka in Million)

Report & Statements of Value Addition and its Distribution

Value Added Report for the year ended 31st December 2012

the operation of the business houses.

values for distribution to the society year to year.

Value Added Statement for the year ended 31st December 2012

Value Added Statement

Particulars Year 2012 Year 20111131.90 692.22

23.38 17.11117.90 120.62

32.50 38.79 1305.68 868.74

754.17 454.12

18.12 12.880.86 0.34

2.81 2.198.06 5.47

0.38 0.550.01 0.02

0.09 0.051.35 0.74

35.66 17.60 821.51 493.956 Value added by Banking Services 484.17 374.784

28.53 36.59

17.35 16.39

10.45 4.78Provision for other assets 22.27 16.26

- 5.77 Total 78.61 79.79Net Total Value Addition 405.56 294.99

Distribution of Value Addition Year 2012 Percentage Year 2011 Percentage

108.86 26.84% 90.44 30.66%

130.15 32.09% 81.63 27.67%

3.01 0.75% 2.56 0.87%

To the growth of the entity (-) 163.54 40.32% 120.36 59.20%

as Statutory Reserve (-) 54.96 13.55% 38.03 12.89%

as Retained Earnings (-) 89.15 21.98% 70.32 23.84%

0.52 0.13% 0.15 0.05%

as Depreciation (-) 13.53 3.34% 7.48 2.54%

5.38 1.33% 4.39 1.49%

405.56 100.00% 294.99 100.00%

Graphical presentation of Distribution of Value Added by

Distribution of Value added (%)

Economic Value Added (EVA) Statements

Particulars Year-2012 Year-2011

1305.68 868.74

-943.90 -591.87

361.78 276.88

-130.15 -81.63

231.63 195.24

1018.20 941.22

193.97 138.35

Sub Total 1212.17 1079.57

979.71 798.09

14.15% 11.51%

Capital Charges 138.63 91.86

Economic Value Added 93.00 103.38

Market Value Added (MVA) Statements

Particulars Year-2012 Year-2011

1,240.42 1,675.21

-639.39 -639.39

601.03 1,035.82

639392575 639,392,575

10.00 10.00

19.40 26.20

Assalamu-Alaikum

brought us together once again.

Chairman’s Foreword

Dear Shareholders,

country have joined with us as our business partners.

‘Early Warning System’in running a financial institution.

Dear Shareholders,

and by practicing high degree of planned corporate, good governance.

Assalamu Alaikum Wa Rahmatullah.

business success despite all odds, pitfalls and challenges.

From the Desk of Managing Director

40.00% and 36.44% respectively over 2011.

5,390.86 crore in 2011.

682.21 crore in 2012 with 32.86% growth over the previous year.

Shariah compliance

Our efforts to serve the customers better

year 2012, we have enriched our card product line with Visa Electron, Hajj Card, Gift Card and Travel Card. Very soon we are

through which our valued

Recognitions

___________________

Managing Director

Management Report & Analysis

Outlook 2013st

To increasing ATM facilities.

Special recovery drive.

Debt Equity Ratio (Times)

Honourable Shareholders,

Assalamu Alaikum Wa Rahmatullahth

Global Economy

levels at least until late 2014.

Bangladesh Economy

Banking Sector Review

sectors.

Islamic Banking around the world

Islamic Banking and its Development in BangladeshGenesis of Islamic Banking in Bangladesh

Formation of IBCF

Formation of CSBIBB (Central Shariah Board for Islami Banks of Bangladesh)

Bangladesh Government Islamic Investment Bond

Islami Bank’s Fund MarketTemporary arrangement of funds through MSD (Mudaraba Savings Deposit) and MND (Mudaraba Notice Deposit) Accounts.

Introduction of Islamic Inter Bank Fund Market (IIFM)

An Overview of the Bank

Capital Management of the Bank

Year Paid up Capital Total Capital Growth (over the

previous year) Source of Capital

2008 1,309.88 2,168,22 15.89% Internal generation

2009 2,691.72 3,914.62 80.55%

2010 2,987.81 4,678.56 19.52% Internal generation

2011 6,393.93 9,534.52 103.79%

2012 6,393.93 10596.51 11.13% Internal generation

Capital Base (Tier-i & Tier-ii)

st July 2011. Tier-I capital consists of (a) paid up capital (b) statutory reserves (c)

position of capital base of the year 2011 and 2012 is given as under.

Particulars Yr-2012 Yr-2011

Tier-I1. Paid up Capital2. Statutory Reserve3. Retained EarningsSub-total

Tier-II

Sub-total

6,393.931,718.06 960.009,071.99

969.53554.99

1524.52

6,393.931,168.48 711.308,273.71

691.56

569.251260.81

Total 10,596.51 9,534.52

Yr-2012 Yr-2011

i. 9.86% 11.43%

ii. 11.52% 13.17%

Stress Result of the Bank as on December 2012

CAR Maintained 11.52%

CAR after Minor Shock

CAR after Moderate Shock (%)

CAR after Major Shock

11.39 11.14 10.88

11.49 11.43 11.36

8.84 5.29 4.76

11.30 10.98 10.54

11.31 11.10 10.67

Interest Rate 11.57 11.61 11.66

11.49 11.46 11.43

11.46 11.40 11.28

Combined Shock

Minor Moderate Major

Changes in CAR

-0.21 -0.42 -0.85

-1.03 -3.50 -7.21

-0.21 -0.54 -0.97

Interest Rate 0.05 0.10 0.14

-0.03 -0.06 -0.09

-0.06 -0.12 -0.24

Total Change -1.49 -4.54 -9.21

10.03 6.98 2.31

Placement & Funding

Deposits

Deposit mix Year-2012 Year-2011 Growth

10,903.16 8,769.99 24.32%

Mudaraba Savings Deposit 4,905.32 3,925.74 24.95%

62,267.65 42,699.28 45.83%

Other Mudaraba Deposit 15,449.26 11,404.06 35.47%

68.90 53.47 28.86%

Total 93,594.29 66,852.55 40.00%

ensured a positive growth in revenue earning.

Sl. No. Mode of Deposits the Year 2012 the Year 2011

1 Mudaraba Savings Deposit 4.10% 3.50%

2 4%-10% 2.75%-3.50%

a) 1 Month 12.50% -

b) 3 Months 12.50% 12.00%

c) 6 Months 12.50% 12.00%

d) 12 Months 12.50% 12.00%

a) 12.50% 12.00%

b) 12.50% 10.00%

c) 12.50% 10.00%

d) 13.50% -

e) 12.50% 11.50%

f) 12.50% 10.00%

g) 13.50% 10.00%

h) 14.00% 12.25%

I) 12.50% 11.00%

j) 12.50% 12.25%

13.43% -

l) 12.50% 10.00%

12.50% 10.00%

n) 12.50% 10.00%

o) 8.00% 5.00%

p) 13.50% 12.00%

p) 13.50% 12.50%

r) 13.50% 12.00%

s) 13.50% 12.50%

t) 13.50% -

u) 13.50% -

v) 10.00% -

Investment

Status Provision Rate2012 2011

Amount Composition Amount Composition

969.18 49.97% 691.29 49.97%

Special Mention Account 5% 0.34 0.02% 0.28 0.02%

20% 29.64 1.53% 10.21 0.74%

50% 6.91 0.36% 35.80 2.59%

100% 933.59 48.12% 645.93 46.68%

Total 1939.66 100.00% 1383.51 100.00%

Investment Plan for 2013

Green Banking

Strategy Framework of Green Banking

Phase Compliances

Phase - 01

Phase - 02

2.2 Green strategic planning

2.3 Setting up green branches

Phase - 033.1 Designing and introducing innovative products

Achievements in Green Banking

Sl No Issue Achievement

1activities

2Diligence (EDD) Instruction Circular no. 2011/23 dated May 23, 2011.

3Rating (ERR) no. 2011/23 dated May 23, 2011.

endeavor has widely been accepted and applauded.

country last year.

Future plan

To introduce Video Conferencing

individual position we belong to.

Appreciation

Special Asset Management

Investment Income

Mode Year 2012 Year 2011 Growth

Murabaha 524.58 417.73 25.58%

5630.41 2,890.73 94.77%

Hire Purchase 1798.33 1,374.05 30.88%

43.33 29.21 48.34%

1.27 0.44 188.64%

Quard against MTDR 640.93 479.95 33.54%

1262.87 708.43 78.26%

Ijarah 27.03 2.66 916.17%

326.22 69.92 366.56%

Mudaraba 3.57 - -

1060.47 949.09 11.74%

Total 11,319.01 6,922.21 63.52%

Non Funded Investment

Income from Investment in Shares & Securities

the closing date of 2012.

2012 2011

VAT Collection at Sources 131.40 63.54

--------- ---------

Total 2,290.69 1,405.39 ---------- -----------

Risk Management

Correspondent Banking Relationship

on a reciprocal basis.

our absence.

Centralized Trade Processing Unit (CTPU)

Centralized Remittance Processing Unit (CRPU)

Off Shore Banking

Centralized Clearing Unit (CCU)th

Corporate Governance

Board of Directors

by the Managing Director or CEO.

Independent Directorth

Appointment of Directors

Mr. Abdul Awal Patwary; and

Retirement of Directors

Executive Committee

Remuneration Committee

Audit Committee

Monitor choice of accounting policies and principles.

Related Party Transaction

party transactions refer to those transactions with the entity / person as stated by way of transfer of resources, services regardless

Credit RatingAA-

2Stable.

Date of Declaration Valid Till Rating Action RatingShort Term

Rating Outlook

May 29, 2013 May 28, 2014 Initial AA- Stable

Board Meeting held during the year 2012 and attended by each Director

Sl. No. Composition of the BoardNo. of Board Meetings in 2012

Held Attended

1. 14 13

2. 14 11

3. 14 14

4. 14 11

5. 14 11

6. Mr. Abdul Awal Patwary, Director 14 11

7. 14 14

8. 14 14

9. 14 08

10. Mr. A. Jabbar Mollah, Independent Director 14 11

Parent / Subsidiary /Associated Companies and other related parties

Sl. No. Name of Subsidiary Companies % of holding of shares by the Bank

1. 99.99%

2. 99.99%

ist of Directors of the Bank with their Shareholding Position as on 31.12.2012

Sl. No. Name of Sponsor/Directors/Shareholders Designation No. of Shares % of total share

1. 1,27,87,934 2.0000%

2. 1,28,20,000 2.0050%

3. 1,27,88,686 2.0001%

4. Director 1,27,88,629 2.0001%

5. Director 1,27,88,275 2.0000%

6. Mr. Abdul Awal Patwary Director 1,27,94,016 2.0009%

7. Director 1,27,90,615 2.0004%

8. Director 1,27,88,095 2.0000%

9 Director3,20,00,000 5.0048%

10. Mr. A. Jabbar Mollah Independent Director 26,57,002 0.4155%

Internal Audit and other top Executives of the Bank and their spouse and minor children:

Sl. No. Name Nos. of Share(s) held

01.Managing Director and CEO

Sl. No. Name Nos. of Share(s) held

01. Deputy Managing Director

02. Deputy Managing Director

Foreign Exchange Business

Particulars 2005 2006 2007 2008 2009 2010 2011 2012 Growth Rate

11576.71 11791.00 13482.30 18343.80 22753.30 39459.50 68198.50 76985.60 12.88%

5528.40 10714.00 9961.60 12674.30 14433.20 21372.20 34975.00 42712.20 22.12%

332.96 775.00 459.90 2341.10 1923.50 1099.40 5134.90 6822.10 32.86%

Total 17438.07 23280.00 23903.80 33363.20 39110.00 61931.00 108308.30 126519.90 16.81%

International Trade Financing (Export & Import)

Foreign Remittance

Human Resource Development

Human Resource Accounting

Descriptions Yr-2012 Yr-2011 Yr-2010 Yr-2009 Yr-2008

1625 1375 1252 950 750

86 76 64 52 28

19 18 20 18 27

57.60 48.62 35.82 33.25 32.13

46.78 39.21 29.30 27.98 26.60

2.23 2.01 1.31 1.12 1.05

0.67 0.66 0.51 0.43 0.44

30.09% 32.66% 38.90% 37.39% 41.96%

2012 2011

--------- --------Total 642.71 461.67 --------- --------

Other Facilities

General Quard facilities

Safety Measures

Information and Communication Technology

accountability to our clients are fair enough to build a relationship of trust.

Any Branch Banking

Internet Banking.

fund with allied accounts and also pay utility bills.

SMS Banking

IP Phone

ATM Network

Managing Information Technology Risk

Green Banking Support

Non–Formal Sector

Micro-Finance, Micro Enterprise and SME Programs

Particulars 31/12/2010 31/12/2011 31/12/2012

SME Outstanding 170.35 437.00 686.88

The Guidelines for operation of this scheme

in this account.

crore in the previous year, registering a growth of 31% than the preceding year.

Voluntary Sector: Corporate Social Responsibility

(ii) Donation to the individuals, covering

CSR activities

Sectors (January - June’12) (July - December’12) Total Contribution

Health 643,150.00 800,097.00 1,443,247.00

Education 958,820.00 1,503,680.00 2,462,500.00

Rehabilitation) 2,506,630.00 12,266,478.00 14,773,108.00

Sports 10,300,000.00 2,982,907.00 13,282,907.00

0.00 25,000.00 25,000.00

10,000.00 16,787,900.00 16,797,900.00

Total 14,418,600.00 34,366,062.00 48,784,662.00

A short list of our stakeholders

Center for Rehabilitation of

Sight Savers International

Mosabbir Cancer Care Centre

privileged children supported

Modhupur, Tangail

CSR activities of the Bank during 2012 at a glance

Sl. No. Event Particulars

02.Donation to Ms. Athoi Das D/O of journalist late Dinesh Das, Senior

04. Donation of Motor Cycle to Journalist

05. individuals

06. Coal Mining School, Dinajpur and schools.

created a awareness in the society.

On going CSR activities of the Bank

1. (School for underprivileged Pathshala (School for underprivileged children) in 04 (four)

basis.

2. (School for underprivileged

Distribution of Scholarship

5.distressed in different parts of the country

poor and distressed people of different parts of the country

This Report Also States That(a)

(e) Appropriate accounting policies have been consistently applied in preparation and presentation of the financial

(h) continue as a going concern.

Particulars 2012 2011 Growth Rate

11319.01 6922.20 63.52%

7541.68 4541.15 66.08%

3777.33 2381.05 58.64%

1737.76 1765.20 -1.55%

5515.09 4146.25 33.01%

1897.27 1377.45 37.74%

3617.82 2768.80 30.66%

869.93 867.52 0.28%

2747.89 1901.28 44.53%

Particulars 2012 2011

i. 3.99% 3.38%

ii. Return on Assets (ROA) 2.75% 2.70%

iii 14.15% 11.51%

Appointment of Auditors

Gratitude

Compliance Report under Condition No: 7.00 of BSEC

Condition No. Title

Compliance StatusRemarks

Complied Not Complied

1.1 than 20)

1.2 (i) one) independent directors,

One was appointed before 31.12.12 and another was appointed on 12.03.2013.

1.2 (ii) a) holds less than one percent (1%) shares of the total

1.2 (ii) b)

brother, sister, son-in-law and daughter-in-law shall

1.2 (ii) c) who does not have any other relationship, whether

1.2 (ii) d)

1.2 (ii) e)

1.2 (ii) f)

1.2 (ii) g)

1.2 (ii) h)

1.2 (ii) i)

1.2 (iii) the independent director(s) shall be appointed by the board of directors and approved by the shareholders in the Annual General Meeting (AGM)

Independent Director will be approved by the shareholders in the ensuing AGM.

1.2 (iv) independent directors, One was appointed before 31.12.12 and another was appointed on 12.03.2013.

1.2 (v)

to be recorded

1.2 (vi)

1.3 (i) individual with integrity who is

contribution to business

1.3 (ii)

1.3 (iii)

1.5 (i)the industry

1.5 (ii)

1.5 (iii)

1.5 (iv)

1.5 (v)or loss

1.5 (vi)related party transactions should be disclosed in the annual report

1.5 (vii)

1.5 (viii)

Repeat Public Offering (RPO), Rights Offer, Direct

variance on their Annual Report

directors

Appropriate accounting policies have been

concern, the fact along with reasons thereof should be disclosed

and attendance by each director shall be disclosed

The pattern of shareholding shall be reported to

wise details)

of the board

of Internal Audit and the CS.

within the business

3(iii)

shall be clearly set forth in writing

3.1(i)

3.1(ii)

and shall include at least 1 (one) independent director

3.1(iii)

3.1(iv)

3.1(v)

3.1(vi)not constitute without at least 1 (one) independent director.

3.2(i)independent director

under process.

3.2(ii)in the Annual General Meeting (AGM) AGM

3.3(i)

3.3(ii) Monitor choice of accounting policies and principles

3.3(iii)

3.3(iv)

3.3(v)

for approval

3.3(vi)

the board for approval

3.3(vii)

3.3(viii)

(IPO)/Repeat Public Offering (RPO)/Rights Issue the

3.4.1(i)

3.4.1(ii)a)

3.4.1(ii)b)

3.4.1(ii)c)related laws, rules and regulations

3.4.1(ii)d)

3.4.2 Reporting to the Authority

3.5 Reporting to the Shareholders and General Investors

4.(i) Appraisal or valuation services or fairness opinions

4.(ii)

4.(iii)

4.(iv)

4.(v) Actuarial services

4.(vi) Internal audit services

4.(vii)

4.(viii)

5.(ii)on 26.05.2013.

5.(iii)

5.(iv)

6.(i)a)

6.(i)b)

6.(ii)

year which are fraudulent, illegal or violation of the

7.(i)Professional Accountant/Secretary (Chartered

conditions of Corporate Governance Guidelines

shareholders along with the Annual Report on a yearly basis

7.(ii)

with these conditions

The Report of Audit Committee of the Board

Sl. No. Name Status with the Bank Status with the Committee

01. Director

02. Mr.Abdul Awal Patwary Director

03. Director

04. Director

05. Mr. A Jabbar Mollah Independent Director

Internal Audit.

Committee Meetings

Report on Risk Management

Revaluation Reserves for Securities

Supervisory Review Process

processes.

(e.g., business cycle effects).

Main Features of Review Process

and review.

Market Discipline

Scope and purpose

Disclosure framework

Comparative Analysis of Capital maintained throughout the year 2012

Particulars 31.03.2012 30.06.2012 30.09.2012 31.12.2012

837.56 859.24 908.78 919.83

Capital Maintained 1,011.88 1037.37 1000.32 1059.65

Core Capital 872.64 882.03 841.38 907.20

139.24 155.34 158.94 152.45

10.42% 10.27% 9.26% 9.86%

1.66% 1.81% 1.75% 1.66%

8,375.62 8592.40 9087.83 9198.34

a) 7687.92 7984.93 8496.68 8555.23

1. 5301.15 5584.38 6340.94 6850.30

2. 2377.77 2400.55 2155.74 1704.92

b) 458.16 460.34 460.34 460.34

c) 238.54 147.14 130.82 182.78

12.08% 12.07% 11.01% 11.52%

10% 10% 10% 10%

4.72%.

Mohammad Shoeb FCASenior Vice President

Scope of ApplicationQualitative Disclosures

which this guidelines applies

(b) An outline of difference in the basis of consolidation for accounting and regulatory purposes, with a brief description of the entities within the group (i) that are fully

(iii) that are neither consolidated nor deducted (e.g. where

funds or regulatory capital within the group.

Quantitative Disclosures

subsidiaries not included in the consolidation that are

Capital StructureQualitative Disclosures

or Tier-II. a) Paid up capitalb) Statutory reservec) Retained earnings

a) General Provisionb) Assets Revaluation Reserve up to 50%.

Particulars Solo Consolidated

i 6,393.93 6,393.93

ii Statutory Reserve 1,718.06 1,718.06

iii - -

iv General Reserve - 0.74

v Retained Earnings 960.00 930.22

vi Minority interest in subsidiaries - -

viishares

viii - -

9,071.99 9,042.95

Particulars

a)Tier 2 and Tier 3 capital

i Tier 2 capital 1,524.52 1,524.52

c 10,596.51 10,567.47

Qualitative Disclosers

and future activities.

Particulars

Solo Consolidated

b) 8,554.88 8,508.60

c) 182.78 182.78

d) 460.34 460.34

e) 9,198.34 9,151.78

11.52% 11.55%

Tier-I CAR 9.86% 9.88%

Tier-II CAR 1.66% 1.67%

Investment RiskQualitative Disclosures

date will be treated as Past due/ Overdue.

ii) Description of approaches

for lending operation etc.

guidelines.

As on 31.12.2012

Murabaha 5,571.24Mudaraba 203.15

Quard 6,361.56

Ijarah 185.29Visa Card 82.80

------------Total 76,024.97

As on 31.12.2012

Chittagong 16,861.25Sylhet 4,516.62Rajshahi 236.16

Rangpur 489.04

-------------- Total 76,024.97

d) Industry or counterparty type distribution Sector As on 31.12.2012

Agricultural Industries 911.39

Construction Industries 3093.78

Service Industries 543.02

Other Industries 9232.43 ------------Total 76024.97

Particulars As on 31.12.2012

Over 5 years 3692.84 --------------Total 76024.97

Particulars As on 31.12.2012Past due --Special Mention Account 6.95Sub-standard 247.96Doubtful 66.70

--------------Total 2539.80

Particulars As on 31.12.2012

Opening balance2116.10

Addition416.76

Reduction-

2532.86

Closing balance 970.13

Qualitative Disclosures

a) Differences between holdings on which

relationship and strategic reasons ;and

covering the valuation and accounting of

in these practices.

when such dividend is received or right to receive such dividend is established.

Particulars Solo Consolidated

a) 738.62 738.62

b) 0 0

c) 126.17 126.17

d) Total latest revaluation gains (losses) - -

61.24 61.24

Qualitative Disclosures

by currency (as relevant)

Particulars 1-90 days over 3 Month - up to 6 Months

Over 6 Month - Up to 1 years

RSA 2129.90 2028.08 3897.64

5553.08 1066.08 993.33

Gap -3423.18 962.00 2904.31

-3423.18 -2461.18 443.13

0.01 0.01 0.01

-34.23 -24.61 4.43

-34.23 -58.84 -54.41

Market RiskQualitative Disclosures

iv) Policies and processes for

Solo Consolidated

122.49 122.49

60.29 60.29

182.78 182.78

Operational RiskQualitative Disclosures

and staffs

iv) Policies and process for

segregated and there is at least dual control on every transaction to protect against

v) Approach to calculating capital as of the reporting date.

As on 31.12.2012

Solo Consolidated

460.34 460.34

Stress testing

liabilities portfolio of the institution.

Auditors’ Report

Management’s Responsibility for the Financial Statements

Auditors’ Responsibility

Opinion

We also report that:

branches not visited by us;

have been prepared in accordance with the generally accepted accounting principles;

Syful Shamsul Alam & Co. Chartered Accountants

Note(s)2012 2011

Taka Taka

PROPERTY AND ASSETS

Cash in hand (Including Foreign Currencies) 3(a) 1,104,657,620 1,065,645,367 Balance with Bangladesh Bank & its Agent Banks 3.1(Including Foreign Currencies) 10,020,554,834 4,601,857,225

11,125,212,454 5,667,502,592

Balance with other Banks and Financial Institutions 4(a)In Bangladesh 2,726,839,850 3,317,446,597 Outside Bangladesh 849,779,375 618,982,002

3,576,619,225 3,936,428,599

Placement with Banks & other Financial Institutions 5 9,015,879,564 7,457,379,564

Investments in Shares & Securities 6(a)Government 2,900,000,000 2,050,000,000 Others 1,764,016,584 1,711,359,758

4,664,016,584 3,761,359,758

Investments 7General Investment etc. 66,459,100,077 48,926,507,517 Bills Purchased and Discounted 9,565,873,831 4,982,068,255

76,024,973,908 53,908,575,772

Fixed Assets including Premises, Furnitures and Fixtures 8(a) 2,256,597,940 2,135,203,543

Other Assets 9(a) 8,165,811,105 7,095,197,636

Non Banking Assets - -

Total Assets 114,829,110,780 83,961,647,464

LIABILITIES AND CAPITAL Liabilities

Placement from Banks & other Financial Institutions 10 4,700,000,000 3,700,000,000

Deposits and Other Accounts 11Mudaraba Savings Deposits 4,905,319,144 3,925,740,731 Mudaraba Term Deposits 62,267,653,508 42,699,279,530 Other Mudaraba Deposits 13,984,000,422 10,498,361,467 Al-Wadeeah Current & Other Deposit Accounts 11.2 (a) 10,585,704,537 8,379,160,525 Bills Payable 11.3 1,465,257,228 905,702,290 Cash Waqf Fund 68,903,770 53,477,204

93,276,838,609 66,461,721,747

Other Liabilities 12(a) 6,699,267,451 4,446,691,591

Deffered Tax Liablities/(Assets) 13 70,528 (5,101,777)

Total Liabilities 104,676,176,587 74,603,311,561

Shareholders’ Equity

Paid-up Capital 14.2 6,393,925,700 6,393,925,700 Statutory Reserve 15 1,718,062,455 1,168,484,261 General reserve 742,431 - Revaluation reserve on Fixed Assets 16 1,109,979,121 1,138,496,825 Retained Earnings 17(a) 930,222,915 657,427,567 Total Shareholders’ Equity of Parent Company, SIBL 10,152,932,622 9,358,334,353

Non controlling Interest 17.2 1,570 1,550

Total Liabilities & Shareholders’ Equity of the Group 114,829,110,780 83,961,647,464

Note(s)2012 2011Taka Taka

18.1 12,634,753,997 8,405,119,002 18.2 7,395,594,893 6,784,252,876 18.3 4,949,826,296 3,277,969,675 18.4 2,784,274,732 1,784,609,018 18.5 - -

Total 27,764,449,918 20,251,950,570

OTHER COMMITMENTS

- - - - - -

- - Total - -

Total Off Balance Sheet Items including 27,764,449,918 20,251,950,570

Chairman Director Director Managing Director

11 May 2013Syful Shamsul Alam & Co.

Note(s) 2012 2011Taka Taka

19(a) 11,325,266,334 6,922,205,589 20 7,541,679,221 4,541,152,612

Net Investment Income 3,783,587,112 2,381,052,977 21 233,816,722 171,112,797

22(a) 1,194,479,560 1,206,193,086 23(a) 337,568,377 387,895,790

1,765,864,659 1,765,201,672 Total Operating Income 5,549,451,771 4,146,254,649 Salaries and Allowances 24(a) 1,081,286,476 894,781,104

25(a) 181,760,278 128,776,905 26(a) 8,618,710 3,448,249 27(a) 28,799,564 21,878,753 28(a) 80,776,376 54,687,078

Managing Director’s Salary and Allowances 29 10,000,000 11,160,000 30(a) 4,094,874 6,112,873

31 117,801 153,976 910,455 596,825

32(a) 149,523,899 82,184,470 33(a) 360,733,108 224,633,377

Total Operating Expenses 1,906,621,541 1,428,413,609

3,642,830,229 2,717,841,040 285,356,045 365,898,418 173,483,062 163,954,940

104,482,499 47,821,392 742,432 -

Provision for other assets 222,654,542 162,630,000 - 57,706,167

34 30,146,894 25,600,000 Provisions for Gratuity 53,811,215 43,907,230 Total Provision 35(a) 870,676,689 867,518,146

2,772,153,541 1,850,322,894

Provision for Income Tax 36(a) 1,306,935,483 817,861,073 1,465,218,057 1,032,461,820

Non-controlling Interest 20 (41) 1,465,218,037 1,032,461,861

AppropriationStatutory Reserve 549,578,194 380,256,045 Retained Earnings 915,639,843 652,205,816

1,465,218,037 1,032,461,861

Earning Per Share (EPS) 37(a) 2.29 1.72 Net Operating Cash Flow per share (NOCFPS) 10.30 2.02Net Asset Value (Crore Taka) 1,015.29 935.83 Net Asset Value (NAV) per share 15.88 14.64

Chairman Director Director Managing Directore

Cash Flow from operating activities38(a) 11,325,266,334 6,922,205,589

(5,247,109,745) (4,541,152,612)Dividend receipts 233,816,722 171,112,797

601,843,415 553,496,519 (1,091,286,476) (905,941,104)

(109,575,940) (76,565,831) (929,894,508) (621,735,692)

39(a) 930,204,521 1,031,643,737 40(a) (569,670,338) (371,088,973)

5,143,593,986 2,161,974,430 Changes in operating assets and liabilities

Statutory deposits - - (902,656,827) (2,191,633,165)

- - (22,116,398,136) (17,228,289,827)

Other assets 41(a) (140,718,961) (3,556,197,954) 2,311,519,035 5,173,989,284

22,209,028,350 16,936,840,970 - -

Trading liabilities - - Other liabilities 42(a) 80,878,423 (82,861,899)Sub Total 1,441,651,884 (948,152,591)

A. 6,585,245,870 1,213,821,840

- - - - - 9,924,800

(257,483,184) (154,064,037)Purchase/Sale of subsidiaries - -

B. (257,483,184) (144,139,237)

1,000,000,000 420,000,000 - - - 3,967,815,750

Dividend paid in cash (671,362,199) - C. 328,637,802 4,387,815,750 D. 6,656,400,487 5,457,498,352

E. 17,061,310,755 11,603,812,403 F. 43(a) 23,717,711,242 17,061,310,755

11 May 2013

ital (

PROPERTY AND ASSETSCash

3 1,104,528,222 1,065,642,134 3.1

10,020,554,834 4,601,857,225 11,125,083,056 5,667,499,359

Balance with other Banks and Financial Institutions 4 2,713,496,766 3,317,446,597

849,779,375 618,982,002 3,563,276,141 3,936,428,598

Placement with Banks & other Financial Institutions 5 9,015,879,564 7,457,379,564 Investments in Shares & Securities 6

2,900,000,000 2,050,000,000 Others 3,244,014,984 3,191,358,158

6,144,014,984 5,241,358,158 Investments 7

66,459,100,077 48,926,507,517 9,565,873,831 4,982,068,255

76,024,973,908 53,908,575,772 Fixed Assets including Premises, Furnitures and Fixtures 8 2,249,954,737 2,134,872,562 Other Assets 9 7,042,770,623 6,060,065,086 Non Banking Assets - - Total Assets 115,165,953,013 84,406,179,099

Placement from Banks & other Financial Institutions 10 4,700,000,000 3,700,000,000 Deposits and Other Accounts 11

Mudaraba Savings Deposits 4,905,319,144 3,925,740,731 62,267,653,508 42,699,279,530

Other Mudaraba Deposits 13,984,000,422 10,498,361,467 11.2 10,903,158,399 8,769,989,859 11.3 1,465,257,228 905,702,290

68,903,770 53,477,204 93,594,292,471 66,852,551,081

12 6,689,618,137 4,446,522,996 13 70,528 (5,101,777)

104,983,981,136 74,993,972,300

Paid-up Capital 14.2 6,393,925,700 6,393,925,700 Statutory Reserve 15 1,718,062,455 1,168,484,261

16 1,109,979,121 1,138,496,825 Retained Earnings 17 960,004,602 711,300,013

10,181,971,877 9,412,206,799 115,165,953,013 84,406,179,099

18.1 12,634,753,997 8,405,119,002

18.2 7,395,594,893 6,784,252,876

18.3 4,949,826,296 3,277,969,675

18.4 2,784,274,732 1,784,609,018

18.5 - -

Total 27,764,449,918 20,251,950,570

OTHER COMMITMENTS

- - - -

Total - - Total Off Balance Sheet Items including

27,764,449,918 20,251,950,570

19 11,319,014,211 6,922,205,589 20 7,541,679,221 4,541,152,612

Net Investment Income 3,777,334,989 2,381,052,977 21 233,816,722 171,112,797 22 1,178,954,865 1,206,193,086 23 324,986,845 387,895,790

1,737,758,432 1,765,201,672 Total Operating Income 5,515,093,421 4,146,254,649 Salaries and Allowances 24 1,078,563,216 893,193,904

25 181,239,535 128,776,905 26 8,618,710 3,430,564 27 28,130,288 21,872,035 28 80,593,969 54,667,648

Managing Director’s Salary and Allowances 29 10,000,000 11,160,000 30 3,795,874 5,480,373 31 117,801 153,976

882,855 512,125 32 148,750,842 82,155,573 33 356,575,106 176,053,176

Total Operating Expenses 1,897,268,196 1,377,456,279 3,617,825,225 2,768,798,371

285,356,045 365,898,418 173,483,062 163,954,940

104,482,499 47,821,392 Provision for other assets 222,654,542 162,630,000

- 57,706,167 34 30,146,894 25,600,000

Provisions for Gratuity 53,811,215 43,907,230 Total Provision 35 869,934,257 867,518,146

2,747,890,968 1,901,280,224 Provision for Income Tax 36 1,306,763,692 817,861,073

1,441,127,276 1,083,419,151 AppropriationStatutory Reserve 549,578,194 380,256,045 Retained Earnings 891,549,083 703,163,106

1,441,127,276 1,083,419,151 Earning Per Share (EPS) 37 2.25 1.81 Net Operating Cash Flow per share (NOCFPS) 10.27 3.66 Net Asset Value (Crore Taka) 1,018.20 941.22 Net Asset Value (NAV) per share 15.92 14.72

Cash Flow from operating activities38 11,319,014,211 6,922,205,589

(5,247,109,745) (4,541,152,612)Dividend receipts 233,816,722 171,112,797

586,318,720 553,496,519 (1,088,563,216) (904,353,904)

(108,724,257) (76,539,683) (926,823,440) (621,735,692)

39 917,622,990 1,031,643,737 40 (564,664,993) (321,773,887)

5,120,886,993 2,212,902,865 Changes in operating assets and liabilities

Statutory deposits - - (902,656,827) (2,191,633,165)

- - (22,116,398,136) (17,228,289,827)

Other assets 41 (55,882,097) (2,518,337,954) 2,311,519,035 5,173,989,284

22,135,652,878 16,827,793,444 - -

Trading liabilities - - Other liabilities 42 71,569,496 (82,956,044)Sub Total 1,443,804,349 (19,434,262)

A. 6,564,691,342 2,193,468,603

- - - - - 9,924,800

(250,397,905) (153,704,159)Purchase/Sale of subsidiaries - -

B. (250,397,905) (143,779,359)

1,000,000,000 420,000,000 - - - 2,987,815,750

Dividend paid in cash (671,362,199) - C. 328,637,802 3,407,815,750 D. 6,642,931,239 5,457,504,993

E. 17,061,307,522 11,603,802,529 F. 43 23,704,238,761 17,061,307,522

11 May 2013

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1 The Bank and its activities1.1 Status of the Bank

1.2 Enlistment with the Stock Exchanges

Name of the Company Paid up Capital (Taka)Percentage of Share Holding

Others

1 1,230,000,000 99.9999187% 0.0000813%

2 250,000,000 99.9997600% 0.0002400%

Total Capital 1,480,000,000

1.5 Off-Shore Banking Unit (OBU)

1.6 Presentation of Financial Statements (BAS-1)

1.7 Compliance of Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting standards (BFRS):

In compliance with BAS No. Status

1 AppliedInventories 2

7 Applied8 Applied

Events After the Reporting Period 10 AppliedConstruction Contracts 11

12 Applied16 Applied17 Applied

Revenue 18 Applied19 Applied2021 Applied23 Applied

Related Party Disclosures 24 Applied2627 Applied28

Interests In Joint Ventures 31

Earnings Per Share 33 Applied34 Applied36 Applied

Intangible Assets 38 Applied

40Agriculture 41

In compliance with BFRS No. Status

123 Applied

Insurance Contracts 456

810 Applied

22.1 Basis of Preparation of the Financial Statements

2.2 Consolidation Procedures (BAS-27)

Bangladesh Accounting Standard (BAS) 27: Consolidated and Separate Financial Statements,

2.3 Subsidiary

2.4 Functional and Presentation Currency

2.5 Use of estimates and judgements

2.6 Foreign Currency Transactions /Translation

of such transaction(s).

2.7 Reporting Period

2.8 Cash Flow Statement

Bangladesh Accounting Standard (BAS)-7 “ Cash Flow Statement”

2.12 Investment in Shares and Securities

At costAt costAt cost

Bangladesh Accounting Standard (BAS)- 39,

2.13 Investments and Provisions

Particulars Rate

0.25%2%2%5%5%

General Provision on Special Mention Account 5%20%50%100%

satisfy the conditions of provision as per Bangladesh Accounting Standard (BAS)-37.

Bangladesh Accounting Standard (BAS) -37.

2.14 Fixed Assets, Depreciation and Revaluation (BAS-16)Assets have been shown at cost less depreciation as per paragraph 43 of Bangladesh Accounting Standard (BAS)-16

Particulars Rate (%) Estimated life(Years)

2.5 4010 10

Decoration 10 10Mechanical Appliance 20 5Motor Car 20 5

10 10Revaluation

per the respective rate of depreciation.

2.15Authorised capital

of Association.

Paid up Capital

Details are shown in Note-14.2.

Statutory Reserve

2.17 Revenue Recognition (BAS-18)

(i) Investment income & Revenue recognition

Sharing of Investment Income

Auditors.(iii)

2.18 Provision for Taxation (BAS-12)(a) Current Tax

considering all applicable allowances and disallowances.(b) Deferred Tax

Bangladesh Accounting Standard (BAS)-12, “Income Taxes”.2.19 Zakat Fund

(a) Provident Fund

(a) Gratuity

2.21 Reconciliation of Inter Bank / Branch Transactions

2.22 Risk Management

(a) Investment Risk Management

designed to address all these issues.

strategy for lending operation etc.

(b) Foreign Exchange Risk Management

(e) Internal Control and Compliance

(f) Information and Communication Technology

2.23 Earning Per Share (BAS-33)

Bangladesh Accounting Standard (BAS)-33: Earnings Per Share (EPS),

2012 2011

Taka Taka

3 Cash In hand:In local currency 1,086,536,063 1,055,138,052 In foreign currencies 5,128,359 5,305,482 ATM balance 12,863,800 5,198,600

1,104,528,222 1,065,642,134

In Foreign Currencies

Foreign Currency Amount in FC Exchange

63,865.00 80.30 5,128,359 5,305,482 - - - -

5,128,359 5,305,482 3(a) Consolidated balance of cash in hand

1,104,528,222 1,065,642,134

Cash in hand of Subsidiary companies 129,398 3,233 116,228 3,233 13,170 -

1,104,657,620 1,065,645,367 3.1 Balance with Bangladesh Bank and its agent bank (Sonali Bank)

9,912,135,883 4,479,664,595 108,418,951 122,192,630

10,020,554,834 4,601,857,225 3.1.1 Balance with Bangladesh Bank (Including foreign currencies)

In local currency 8,702,803,548 3,990,069,190 In foreign currencies 1,209,332,335 489,595,405

9,912,135,883 4,479,664,595

3.1.2 Balance with Sonali Bank (as agent of Bangladesh Bank)

In local currency 108,418,951 122,192,630

3.3 4,349,977,184 3,341,108,870

Actual Reserve held (in local currency) 8,811,222,499 4,112,261,821 Surplus 4,461,245,315 771,152,951

2012 2011

Taka Taka3.4

8,337,456,270 6,403,792,000 Actual Reserve held (Note- 3.5) 14,025,083,056 7,717,499,359 Surplus 5,687,626,786 1,313,707,359

Cash in hand (Note- 3) 1,104,528,222 1,065,642,134 (Note-3.1) 10,020,554,834 4,601,857,225

2,900,000,000 2,050,000,000 14,025,083,056 7,717,499,359

4 Balance with Other Banks and Financial Institutions

(Note - 4.1) 2,713,496,766 3,317,446,597 (Note- 4.2) 849,779,375 618,982,002

3,563,276,141 3,936,428,598 4(a) Consolidated balance of other Banks and Financial Institutions

In Bangladesh

2,713,496,766 3,317,446,597

Add: Account Balance of subsidiaries of SIBL with SIBL Principal Branch 317,453,862 390,829,335 67,498,715 140,863,267

249,955,147 249,966,068

3,030,950,628 3,708,275,931

Less: Inter company balance eliminated 317,453,862 390,829,335

67,498,715 140,863,267 249,955,147 249,966,068

13,343,084 - 13,343,084 -

Consolidated balance with Banks and Financial Institutions 2,726,839,850 3,317,446,597

13300057058 respectively.

4.1 Inside BangladeshCurrent Account

5,132,544 3,558,964 16,742,099 23,416,928

- 540 - 441

7,936,152 4,043,845 4,207,787 4,091,108 2,787,307 2,548,477

- 2,111 36,805,889 37,662,414

2012 2011

Taka Taka

4.2 Mudaraba Short Notice Deposits

790,819 4,093,769 16,092 15,130

1,671,876 5,273,050 8,272 9,181 1,456 2,524

487,240 473,320 1,003,221 3,406

866,873,778 100,000,000 280,426,511 1,014,817

7,008,090 1,717,865 1,158,287,355 112,603,062

4.3 Mudaraba Saving Deposit

310,957,544 219,669,126 82,814 83,624

2,262,515 11,752,269 4,766,449 140,584,717

57,724,211 202,065,506 404,460,677 811,133,574 305,830,073 2,782,364

57,657,256 1,303,650,930 366,932,088 314,560,213

7,729,895 160,898,797 1,518,403,522 3,167,181,120

Total 2,713,496,766 3,317,446,597

20124.4 Outside Bangladesh (NOSTRO Account)Currency F.C. Amount Rate TakaCurrent Account with

2,743.92 106.17 291,329 21,457.28 80.30 1,723,020

5,043,759.13 80.30 405,013,818 307.14 80.30 24,663

5,002.07 80.30 401,666 68,859.91 106.17 7,311,040

116,280.74 129.85 15,099,418 2,527.55 129.85 328,210

624,272.00 0.96 599,424 4,905,640.86 80.30 393,923,013

36,953.87 80.30 2,967,396 32,036.25 80.30 2,572,511 23,683.79 80.30 1,901,808 70,294.82 80.30 5,644,674 19,512.98 80.30 1,566,892 56,979.26 80.30 4,575,435 13,518.72 80.30 1,085,553 25,054.05 80.30 2,011,840 25,785.02 106.17 2,737,664

849,779,375

Currency wise Distribution: 2012 2011 2012 2011Foreign Currency Composition Composition Taka Taka

96.89% 95.46% 823,387,626 590,899,688 1.82% 2.12% 15,427,628 13,134,950 1.22% 0.81% 10,340,033 5,038,188 0.07% 1.60% 599,424 9,909,176 100% 100% 849,754,712 618,982,002

4.5 Maturity-wise groupings of balance with otherBanks and Financial Institutions (Both in Bangladesh and outside Bangladesh)

2,196,712,971 1,085,965,591 683,281,585 1,425,231,504 683,281,585 1,425,231,504

- - More than 5 years - -

3,563,276,141 3,936,428,598 5 Placement with Banks & other Financial Institutions

6,225,879,564 5,927,379,564 2,790,000,000 1,530,000,000 9,015,879,564 7,457,379,564

5.1 Mudaraba Term Deposits with Banks

225,879,564 227,379,564 900,000,000 1,200,000,000 400,000,000 400,000,000

- 300,000,000 200,000,000 -

1,800,000,000 1,900,000,000 1,000,000,000 300,000,000

300,000,000 300,000,000 1,200,000,000 1,300,000,000

200,000,000 - 6,225,879,564 5,927,379,564

5.2 Mudaraba Term Deposits with Other Financial Institutions

450,000,000 200,000,000 30,000,000 30,000,000

150,000,000 150,000,000 750,000,000 350,000,000 700,000,000 100,000,000

- 100,000,000 400,000,000 300,000,000 150,000,000 100,000,000

- 50,000,000 150,000,000 150,000,000

- - 10,000,000 -

2,790,000,000 1,530,000,000

2012 2011

Taka Taka

5.3 Maturity-wise groupings of placement withBanks and other Financial Institutions

950,000,000 - 1,980,000,000 3,930,000,000 6,085,879,564 3,527,379,564

More than 1 year but less than 5 years - - More than 5 years - -

9,015,879,564 7,457,379,564 6 Investment in Shares & Securities

Government 2,900,000,000 2,050,000,000 2,900,000,000 2,050,000,000

Others 738,620,499 706,943,058

2,631,567,850 2,484,415,100 3,370,188,349 3,191,358,158

(126,173,365) -

Value of Investment in Shares and securities, Others 3,244,014,984 3,191,358,158

Grand Total 6,144,014,984 5,241,358,158

Maturity-wise Grouping of Investment in Securities: 812,447,134 706,943,058 400,000,000 -

2,300,000,000 2,050,000,000 1,001,569,450 1,004,416,700

More than 5 years 1,629,998,400 1,479,998,400 6,144,014,984 5,241,358,158

6(a) Consolidated Investment in Shares and Securities

Government 2,900,000,000 2,050,000,000 2,900,000,000 2,050,000,000

Others sectors 3,244,014,984 3,191,358,158

Investments in Subsidiaries 1,479,998,400 1,479,998,400 1,229,999,000 1,229,999,000

249,999,400 249,999,400

Consolidated Investment in others sectors 1,764,016,584 1,711,359,758

Total consolidated balance of Investment in shares and securities 4,664,016,584 3,761,359,758

2012 2011

Taka Taka

6.2 Investment in Shares (Quoted) 11,965,679 12,801,614

1,071,536 1,108,992

13,448,025 13,432,587

8,352,234 8,259,903

4,633,704 4,476,923

17,639,340 17,160,145

17,144,838 15,598,482

20,000,000 -

65,945,448 48,345,984

59,533,246 54,042,416

- 13,432,625

42,489,473 32,205,526

28,687,500 26,382,302

34,856,688 34,856,688

27,362,281 44,078,416

16,106,827 11,376,776

25,248,318 25,248,318

10,580 10,580

59,048,343 59,048,343

285,076,438 285,076,438 738,620,499 706,943,058

6.3 1,569,450 4,416,700

500,000,000 500,000,000

1,229,999,000 1,229,999,000

249,999,400 249,999,400

500,000,000 500,000,000

150,000,000 -

2,631,567,850 2,484,415,100

6.4 Government Bond (BD Govt. Islamic Bond) 2,900,000,000 2,050,000,000

6.5 2012Taka

ParticularsNo. of

Shares/ Securities

Market price per Shares

Fair value/ Market value as on 31-12-2012

Cost price as on 31-12-2012

Fair value adjustment

Quoted Shares

14,300 850.00 12,155,000 11,965,679 189,321 4,000 319.00 1,276,000 1,071,536 204,464

78,700 147.50 11,608,250 13,448,025 (1,839,775) 52,900 129.70 6,861,130 8,352,234 (1,491,104) 31,600 107.10 3,384,360 4,633,704 (1,249,344)

174,500 78.00 13,611,000 17,639,340 (4,028,340) 248,660 49.90 12,408,134 17,144,838 (4,736,704)

2,000,000 9.20 18,400,000 20,000,000 (1,600,000)

2,000,050 25.10 50,201,255 65,945,448 (15,744,193)

810,000 33.70 27,297,000 59,533,246 (32,236,246) 1,500,000 20.80 31,200,000 42,489,473 (11,289,473)

805,600 21.50 17,320,400 28,687,500 (11,367,100) 922,922 24.80 22,888,466 34,856,688 (11,968,222) 315,000 65.30 20,569,500 27,362,281 (6,792,781) 400,000 26.80 10,720,000 16,106,827 (5,386,827) 175,000 64.40 11,270,000 25,248,318 (13,978,318)

120 79.70 9,564 10,580 (1,016) 1,531,250 28.50 43,640,625 59,048,343 (15,407,718)

314,820,684 453,544,061 (138,723,377)

Particulars No. of Shares/ Securities

Market price per Shares

Fair value/ Market value as on 31-12-2012

Cost price as on 31-12-2012

Fair value adjustment

2012Taka

Quoted Bond 299,800 992.75 297,626,450 285,076,438 12,550,012

297,626,450 285,076,438 12,550,012 Preference Shares

50,000,000 - 500,000,000 500,000,000 -

500,000,000 500,000,000 -

456,945 - 1,569,450 1,569,450 - 5,000,000 - 500,000,000 500,000,000 -

300 - 150,000,000 150,000,000 -

651,569,450 651,569,450 -

Grand Total 1,764,016,584 1,890,189,948 (126,173,365)

6.6other than investment in subsidiaries

1,890,189,948 -

(126,173,365) - 1,764,016,584 -

Investments in Shares and Securities’ other than investments in subsidiaries under the category ‘Financial

Bangladesh Accounting Standard (BAS)-39, Financial Instruments: Recognition and Measurement.

2012 2011Taka Taka

7 Investments

In Bangladesh 66,459,100,077 48,926,507,517

2,546,846,049 2,795,822,525

Outside Bangladesh 7,019,027,782 2,186,245,730

76,024,973,908 53,908,575,772

With a residual maturity of 5,130,683,788 6,757,878,829

16,970,988,616 11,850,289,904 43,460,289,892 20,860,512,641

6,770,166,468 9,229,469,528 Over 5 years 3,692,845,144 5,210,424,870

76,024,973,908 53,908,575,772

7.1 Mode-Wise Investment (General)

a) In Bangladesh 541,697,156 393,370,486

Murabaha 5,571,248,529 2,898,887,389 Mudaraba 203,153,922 -

40,705,723,827 28,631,907,606 12,156,391,561 11,889,138,794

245,009 821,008 Quard 6,361,565,166 4,528,275,200

59,592,522 4,153,759 591,391,402 389,000,180

Ijarah 185,294,803 151,643,474 Visa Card 82,796,180 39,309,621

66,459,100,077 48,926,507,517

Mode-Wise Investment (General)b) Outside Bangladesh

- - Murabaha - -

- - - - - -

Quard - - - -

Others - - - -

2012 2011Taka Taka

7.2 Bills Purchased and discounted Inside Bangladesh

2,546,846,049 2,795,822,525

Bills Purchased and discounted Outside Bangladesh

53,498,799 202,769,258 2,670,155,998 854,666,386 1,586,192,651 658,117,990 2,709,180,334 470,692,096 7,019,027,782 2,186,245,730

Grand total of net Bills Purchased and Discounted 9,565,873,831 4,982,068,255

7.2.1 Bills Purchased and Discounted

2,546,846,049 2,795,822,525 7,820,912,687 2,939,755,050

Gross Bills Purchased and Discounted 10,367,758,736 5,735,577,575 801,884,905 753,509,320

Net Bills Purchased and Discounted 9,565,873,831 4,982,068,255

3,348,055,841 1,667,299,305 3,348,055,841 2,838,397,720 2,869,762,149 476,371,230

- - 9,565,873,831 4,982,068,255

7.3 2012 2011

0.00% 0.03% 2,050,000 13,754,000 0.88% 1.03% 669,332,251 554,328,324

65.82% 60.34% 50,041,324,437 32,529,743,788 33.29% 38.60% 25,312,267,220 20,810,749,660

Others 0.00% 0.00% - - 100.00% 100.00% 76,024,973,908 53,908,575,772

Investments allowed to individual customer exceeding 15% of Bank’s total capital:

Details information of Investment more than 10% of Bank’s total capital

Sl no. Name of client

Outstanding as on 31 December 2012

Outstanding as on 31 December 2011

Total Total

1 M/s. Agrani Traders, Ovi Traders and A M Trading 108.84 179.802 215.50 156.843 198.42 139.424 151.76 115.895 126.14 - 6 112.93 - 7 109.54 - 8 - 97.62

Sector As at 31 December 2012 As at 31 December 2011Amount Composition Amount Composition

27,465,574,275 36.13% 17,260,836,896 32.02% 6,209,299,904 8.17% 4,458,018,423 8.27% 3,039,253,391 4.00% 2,501,584,455 4.64%

630,487,762 0.83% 4,027,654,013 7.47% 6,468,970,678 8.51% 90,675,497 0.17%

2,467,586 0.00% 17,141,365 0.03% 6,225,270,841 8.19% 4,173,833,140 7.74%

2,050,000 0.00% 13,754,000 0.03% 669,332,251 0.88% 554,328,324 1.03%

Agricultural Industries 911,387,936 1.20% 1,206,903,987 2.24% 7,860,528,990 10.34% 5,358,306,425 9.94% 1,533,409,397 2.02% 1,711,630,445 3.18%

222,720,897 0.29% 1,389,103,673 2.58% 346,473,330 0.46% 242,702,156 0.45%

Construction Industries 3,093,782,032 4.07% 1,785,602,245 3.31% 561,181,572 0.74% 25,432,069 0.05%

Service Industries 543,020,302 0.71% 537,025,565 1.00% 1,007,335,645 1.33% 1,066,803,846 1.98%

Other Industries 9,232,427,119 12.14% 7,487,239,248 13.89%Total 76,024,973,908 100.00% 53,908,575,772 100.00%

Division As at 31 December 2012 As at 31 December 2011Amount Composition Amount Composition

50,654,663,564 66.63% 37,100,282,799 68.82%Chittagong 16,861,249,797 22.18% 11,592,344,131 21.50%Sylhet 4,516,622,008 5.94% 251,249,450 0.47%Rajshahi 236,166,458 0.31% 2,814,042,078 5.22%

3,103,393,720 4.08% 1,904,802,487 3.53%Rangpur 489,037,823 0.64% 245,250,052 0.45%

163,840,538 0.216% 604,775 0.001%Total 76,024,973,908 100.00% 53,908,575,772 100.00%

2012 2011Taka Taka

7.6 72,769,842,801 51,217,117,969

Special Mentioned Account 6,953,779 5,562,000 Substandard 247,958,549 85,044,657 Doubtful 66,702,397 245,437,575

2,216,673,225 1,783,944,571 75,308,130,751 53,337,106,772

45,986,583 15,437,000 - - - -

1,524,323 1,704,000 47,510,906 17,141,000

669,332,251 554,328,000 76,024,973,908 53,908,575,772

691,883,063 518,400,500 970,134,818 691,946,712 277,644,499 173,162,000

1,939,662,380 1,383,509,212

7.7.1 Detail Particulars of Provision for Investment

Rate Base for Provision

Standard 1% 65,406,256,808 654,062,568 471,370,100 0% - - - 5% 20,216,950 1,010,848 4,484,800

0.25% 6,439,869,888 16,099,675 40,153,000 2% 898,114,580 17,962,292 1,230,280 2% 5,384,574 107,691 113,620 5% 6,813,200 340,660 276,700 1% 27,764,449,918 277,644,499 173,162,000

Substandard 20% 148,175,281 29,635,056 10,212,800 Doubtful 50% 13,817,558 6,908,779 35,801,500

100% 933,590,983 933,590,983 645,932,412 1,937,363,051 1,382,737,212

5% 45,986,583 2,299,329 772,000

5% - - 5% - -

100% - - 2,299,329 772,000

1,939,662,380 1,383,509,212

Total provision maintained 1,939,662,380 1,383,509,212

Provision Surplus/(Shortfall) - -

2012 2011Taka Taka

Provision Made: (Other than Short term Agricultural & Micro Credit)

Standard 966,887,573 690,513,800 SMA 340,660 276,700

Substandard 29,635,056 10,212,800 Doubtful 6,908,779 35,801,500

933,590,983 645,932,412 1,937,363,051 1,382,737,212

Provision Made: (Short term Agricultural & Micro Credit)

2,299,329 772,000 - - - - - -

2,299,329 772,000

Grand Total 1,939,662,380 1,383,509,212

7.7.2 Particulars of provision for Off-Balance Sheet itemsBasis for

Status Rate Provision

1% 27,764,449,918 277,644,499 173,162,000 277,644,499 173,162,000 277,644,499 173,162,000

Surplus Provision - -

7.8 Particulars of Investments:

(i) 62,675,946,788 39,346,567,926 (ii)

security other than the debtor’s personal security 10,073,828,666 10,713,342,886 (iii)

parties in addition to the personal security of the debtors 3,275,198,454 3,848,664,960 (iv) - -

Total 76,024,973,908 53,908,575,772

(v)either severally or jointly with any other person 671,382,251 568,082,324

(vi) 3,237,000 14,941,000

persons. 10,403,108 10,248,984

(viii)

2012 2011Taka Taka

2,532,858,494 2,116,130,803

2,168,870,700 1,547,229,221

138,567,510 621,641,479 2,307,438,210 2,168,870,700

107,115,000 87,115,000 2,307,438,210 2,168,870,700

304,827,189 283,964,994

8 Fixed Assets including Premises, Furnitures and Fixtures

A. Cost

12,330,000 12,330,000 1,719,061,103 1,719,061,103

343,209,238 244,885,191 528,531,089 376,747,139

Vehicles 52,918,377 52,681,278 1,043,853 991,043

2,657,093,659 2,406,695,754

B. Accumulated Depreciation

- - 61,091,670 18,579,633

101,740,643 80,522,208 211,092,910 147,995,380

Vehicles 32,603,319 24,160,694 610,381 565,277

407,138,922 271,823,192

Carrying value 2,249,954,737 2,134,872,562

8(a) Consolidated written down value of Fixed Assets including Premises

2,249,954,737 2,134,872,562 Fixed assets of subsidiaries

6,643,203 330,981 - -

Carrying value of Fixed assets of the Group 2,256,597,940 2,135,203,543

2012 2011Taka Taka

9 Others Assets

15,992,283 12,273,865 145,434,127 99,398,820

Security Deposit 3,948,732 3,974,914 2,522,022,946 3,010,096,228

376,127,658 290,156,467 33,569 5,634,266

411,571 302,875 955,088 43,243

2,391,120,492 1,464,297,052 1,875,347 1,377,245 1,401,205 1,340,205

374,545,000 325,260,000.00 203,132,011 -

4,144,364 - 1,205,337,688 845,909,906 7,246,482,081 6,060,065,086

203,132,011 - 579,447 -

Grand total after elimination of balance with OBU 7,042,770,623 6,060,065,086

9(a) Consolidated other Assets

7,042,770,623 6,060,065,086

Add: Other assets of subsidiary companies 1,126,317,034 1,037,850,000

307,000,000 307,000,000 720,650,000 720,650,000

3,071,068 - 498,102 -

Advance to Interior Decorator 1,300,000 - 167,600 -

5,973,754 - 74,243,154 - 3,213,356 -

200,000 200,000 Security Deposit to DSE 10,000,000 10,000,000

3,276,552 2,717,450 1,875,347 1,377,245 1,401,205 1,340,205

8,165,811,105 7,095,197,636

2012 2011Taka Taka

Number of Amount (in Tk) ofUnrespondent entries Unrespondent entries2012 2011 2012 2011 38 357 2,266,666,249 3,009,161,228 9 6 255,356,697 700,000 - 1 - 200,000 - 1 - 35,000

47 365 2,522,022,946 3,010,096,228

Particulars Base for Provision Rate Provision Provision

8,794,818 100% 8,794,818 349,581 356,443,392 0% - - 10,889,448 50% 5,444,724 3,126,493

376,127,658 14,239,542 3,476,074 Provision Kept 14,239,542 3,500,000

Excess / (Shortfall) - 23,926

on account of sell of securities.

9.4 Others

48,877,717 26,254,615 DD paid without Advice 938,534 2,203,212

3,289,774 2,441,340 561,798,420 399,424,171

Advance VAT paid 1,907,589 - 53,255 -

383,644,225 278,062,361 37,695,442 26,116,102

167,132,732 111,408,106 1,205,337,688 845,909,906

9.4.1 Clearing Adjustment

9.4.2 Adjusting A/c debit balance 561,798,420 399,424,171

2012 2011Taka Taka

10 Placement from Banks & Other Financial Institutions

Bangladesh Govt. Islamic Bond. 4,700,000,000 3,700,000,000

Maturity Grouping of Borrowings

800,000,000 500,000,000 2,600,000,000 1,200,000,000 1,300,000,000 2,000,000,000

- - 4,700,000,000 3,700,000,000

11 Deposits and Other Accounts

Mudaraba Savings Deposits (MSD) 4,905,319,144 3,925,740,731 62,267,653,508 42,699,279,530

Other Mudaraba Deposit 13,984,000,422 10,498,361,467 3,524,027,294 2,675,835,940

(Note-11.1) 10,459,973,128 7,822,525,527 (Note- 11.2) 10,903,158,399 8,769,989,859

(Note-11.3) 1,465,257,228 905,702,290 68,903,770 53,477,204

93,594,292,471 66,852,551,081 11.1 Mudaraba Scheme Deposits

Mudaraba Hajj Savings Deposit 15,363,209 9,965,055 Mudaraba Pension Savings Deposit 3,015,352,007 2,558,605,455 Mudaraba Education Deposit 90,148,754 101,526,250 Mudaraba Monthly Savings Deposit 174,239,208 178,440,186

1,275,650,566 1,443,590,093 382,359,331 328,558,421

Mudaraba Millionaire Savings Deposit 259,793,833 202,617,479 365,981,761 357,480,158

2,186,825,125 2,326,258,617 Mudaraba Marriage Savings Deposit 149,623,827 132,482,684 Mudaraba Moharana Savings Deposit 11,940,815 9,748,475

24,909,572 8,021,368 253,316,984 50,906,224

Sabuj Chayanna Special Deposit 187,537,598 17,005,916 Sabuj Chaya Pension Deposit 74,920,687 43,014,459 Sanchita Special Deposit 25,772,406 8,406,911 Shonali Din Pension Deposit 294,937,281 7,295,396

927,442 13,818 172,936,700 7,600,000

1,443,001,879 30,605,107 Shopner Shiri Deposit 31,619,273 383,456

22,814,869 - 10,459,973,128 7,822,525,527

2012 2011Taka Taka

11.2 Al-Wadeeah Current Deposit & other A/c

4,184,770,966 3,782,899,647 Sundry deposit 2,867,259,107 2,588,360,587 Social fund deposit 17,075 17,075 Supervision charge 1,316,661 1,255,687

1,342,995 1,828,030 526,405,519 138,951,381

9,258,398 5,700,674 1,686,037,343 1,084,337,069 1,619,177,384 1,156,299,370

7,572,951 10,340,339 10,903,158,399 8,769,989,859

11.2(a) Consolidated balance of Al-Wadeeah Current Deposit & Other A/c 10,903,158,399 8,769,989,859

Less: Intercompany balance eliminated 317,453,862 390,829,334 67,498,715 140,863,267

249,955,147 249,966,068

Consolidated balance of Current deposit and other accounts 10,585,704,537 8,379,160,525

11.3 Bills Payable

745,531,289 464,666,616 13,293,855 26,975,702

706,432,085 414,059,971 1,465,257,228 905,702,290

11.4 Maturity wise classifcation of Deposits

971,957,170 811,823,831 17,378,607,310 7,790,007,779 27,947,482,142 19,972,996,612 34,158,033,729 24,411,440,304

More than 1 year but up to 5 years 7,325,086,300 7,805,552,152 More than 5 years but up to 10 years 5,813,125,819 6,060,730,403

93,594,292,471 66,852,551,081 11.5 Segregation of deposits & other accounts

i) Client Deposit10,903,158,399 8,769,989,859 1,465,257,228 905,702,290

Mudaraba Savings Deposits 4,315,923,069 3,886,518,646 3,520,518,010 2,673,671,701

50,357,653,508 32,549,279,530 10,459,973,128 7,822,525,527

68,903,770 53,477,204 81,091,387,112 56,661,164,757

2012 2011Taka Taka

ii) Bank Deposit11,910,000,000 10,150,000,000

3,509,284 2,164,239 Mudaraba Savings Deposit (MSD) 589,396,075 39,222,085

12,502,905,359 10,191,386,324

Grand Total of deposits and other accounts 93,594,292,471 66,852,551,081

11,623,498 5,974,078 Other Payable 1,291,813 2,655,875

383,644,225 278,062,361 (note: 12.1) 221,373,660 157,509,899

37,695,442 26,116,102 3,184,624 3,101,407

- 20,403 3,820,731 3,716,548

- 2,611,720 ( note: 12.2) 1,939,662,380 1,383,509,212

(note:12.3) - 57,706,167 388,370,542 166,130,000

(note: 12.5) 304,827,189 283,964,994 (note: 12.6) 3,343,147,121 2,041,555,734

(note: 12.7) 44,381,311 33,888,497 (note: 12.8) 6,595,602 -

6,689,618,137 4,446,522,996

12(a) 6,689,618,137 4,446,522,996

Add: Other Liabilities of subsidiariesSIBL Securities Limited 9,591,813 124,895

1,907,160 119,895 Payable to regulators 1,294,903 - Payable to clients 6,212,959 -

176,791 5,000

SIBL Investment Limited 57,500 43,700 52,500 38,700

5,000 5,000

6,699,267,451 4,446,691,591

12.1 167,132,732 111,408,106

Add: Provision for GratuityOpening balance 46,101,793 32,319,513 Current year Provision 53,811,215 43,907,230

3,826,120 - 103,739,128 76,226,743 (9,498,200) (5,124,950)

(40,000,000) (25,000,000)Balance of provision for gratuity at year end 54,240,928 46,101,793

Grand total of gratuity fund balance 221,373,660 157,509,899

2012 2011Taka Taka

12.2 Provision for Investment

Provision held at the beginning of the year 691,947,212 487,492,847 (138,567,510) (409,544,053)

71,081,185 248,100,000 57,706,167 -

2,611,720 - 285,356,045 365,898,418

Provision held at the end of the year 970,134,819 691,947,212

(b) General Provision on InvestmentProvision held at the beginning of the year 518,400,000 354,445,060 Addition during the year 173,483,062 163,954,940 Balance at the end of the year 691,883,062 518,400,000 Total Provision on Investments 1,662,017,881 1,210,347,212

(c) General Provision on Off-Balance Sheet itemsProvision held at the beginning of the year 173,162,000 125,340,608 Addition during the year 104,482,499 47,821,392 Balance at the end of the year 277,644,499 173,162,000

1,939,662,380 1,383,509,212

12.3 Provision for diminution in value of shares

Provision held at the beginning of the year 57,706,167 - Addition during the year - 57,706,167

(57,706,167) - 57,706,167

12.4 Provision for other Assets

Provision held at the beginning of the year 166,130,000 3,500,000 (414,000) -

Addition during the year 222,654,542 162,630,000 Balance at the end of the year 388,370,542 166,130,000

12.5 Compensation & Rent Suspense A/C

Compensation Receivable A/CMurabaha (General) 11,100,091 6,302,341

3,713,758 3,471,968 1,197,671 625,924

26,460,794 14,154,595 6,424,759 8,550,393 1,449,594 975,694

50,346,667 34,080,915 Compensation Suspense A/CMurabaha (General) 25,632,021 37,639,906

29,432,124 36,138,640 71,214,856 79,327,129

2012 2011Taka Taka

61,081 129,178 13,842,860 33,086,373 11,647,069 7,053,974

Others 25,985,873 8,751,142 177,815,885 202,126,343

Rent Suspense A/C 76,664,637 47,757,736

Total Compensation & Rent Suspense 304,827,189 283,964,994

12.5.1 Movement of Compensation and Rent Suspense A/C

283,964,994 283,448,368 147,013,749 178,621,325 (81,460,516) (40,931,322) (44,691,039) (137,173,376)

Balance at the end of the year 304,827,189 283,964,994

12.6 Provision for Taxation

Provision for Current tax 2,041,555,734 1,225,191,137 1,301,591,387 816,364,597 3,343,147,121 2,041,555,734

Advance tax 1,464,297,052 842,561,360

Paid during the year 926,823,440 621,735,692 2,391,120,492 1,464,297,052

Balance at the end of the year 952,026,629 577,258,682

12.6.1 Provision made during the year

3,617,825,225 2,768,798,371

Add: amount to be deducted for separate consideration 175,331,524 111,233,061

840,010,580 1,018,782,632

Total Taxable Income 2,953,146,168 1,861,248,800

Total Tax liability for current year 1,255,087,122 791,030,740

46,245,187 24,182,918 259,079 1,150,940

1,301,591,387 816,364,597

Provision made 1,301,591,387 816,364,597

12.7 Provision for Zakat

33,888,497 23,889,962 Addition this year 30,146,894 25,600,000

(19,654,080) (15,601,465)Closing Balance at the end of the year 44,381,311 33,888,497

2012 2011Taka Taka

- - Addition the year 6,595,602 -

- - Closing Balance at the end of the year 6,595,602 -

(5,101,777) (6,598,253) 5,172,304 1,496,476

Closing balance at the end of the year 70,528 (5,101,777)

14 Capital

14.1 Authorized Capital

10,000,000,000 10,000,000,000

14.2 Issued, Subscribed and Paid up Capital

6,393,925,700 6,393,925,700

Break up of paid up capital is as follows

260,000,000 260,000,000 4,773,229,450 4,773,229,450 1,360,696,250 1,360,696,250 6,393,925,700 6,393,925,700

Sponsor Shareholders Group 2,032,017,980 1,474,005,730 General Shareholders Group 4,361,907,720 4,919,919,970

6,393,925,700 6,393,925,700

Year 2012No. of

Shareholders No. of shares Percentage of holding of shares

33,009 6,530,028 1.02%501 to 5,000 shares 38,886 65,621,940 10.26%5,001 to 10,000 shares 3,496 24,935,347 3.90%10,001 to 20,000 shares 1,724 23,145,340 3.62%20,001 to 50,000 shares 854 24,988,897 3.91%50,001 to 99,999 shares 544 494,171,018 77.29%Total 78,513 639,392,570 100.00%

Year 2011Shareholding range Folio Share Percentage

32,742 7,229,892 1.13%501 to 5,000 shares 50,838 86,927,237 13.60%5,001 to 10,000 shares 4,837 34,598,134 5.41%10,001 to 20,000 shares 2,407 32,642,390 5.11%20,001 to 50,000 shares 1,281 38,655,537 6.05%50,001 to 99,999 shares 746 439,339,380 68.71%Total 92,851 639,392,570 100.00%

14.4 Particulars of shareholding and Percentage Analysis

Particulars of shareholding: Year 2012 2012 2011Number of

Share holdersNumber of

Shares Taka Taka

25 146,510,956 1,465,109,560 1,169,066,560 8 4,020,633 40,206,330 41,796,330 5 52,670,209 526,702,090 263,142,840

General Public 77,955 333,194,822 3,331,948,220 4,009,616,760 69 21,874,567 218,745,670 361,984,960

Institution (Others) 346 73,648,501 736,485,010 445,188,010 76 3,383,041 33,830,410 40,239,500 2 256,216 2,562,160 13,974,660 2 3,079,046 30,790,460 44,905,460 9 238,781 2,387,810 1,607,810

14 240,281 2,402,810 2,402,810 2 275,517 2,755,170 -

78,513 639,392,570 6,393,925,700 6,393,925,700

2012 2011Percentage of shareholding Analysis: Percentage Percentage

22.91% 18.28%

0.63% 0.65%8.24% 4.12%

General Public 52.11% 62.71%3.42% 5.66%

Institution (Others) 11.52% 6.96%0.53% 0.63%0.04% 0.22%0.48% 0.70%0.04% 0.03%0.04% 0.04%0.04% -

100.00% 100.00%

2012 2011Taka Taka

a) Core Capital ( Tier -I)

i) Paid-up Capital 6,393,925,700 6,393,925,700 ii) Statutory Reserve (Note: 15) 1,718,062,455 1,168,484,261 iii) Retained Earnings (Note: 17) 960,004,602 711,300,013

9,071,992,756 8,273,709,974

b) Supplementary Capital (Tier-II)

i) General Provision 969,527,561 691,562,000 ii) Assets Revaluation Reserve (eligible) 554,989,561 569,248,413

1,524,517,122 1,260,810,413

10,596,509,878 9,534,520,386

d) Total Risk Weighted Assets 91,983,417,500 72,389,448,000

9,198,341,750 7,238,944,800

f) Total Capital Surplus (c-e) 1,398,168,128 2,295,575,586

a) Core Capital ( Tier -I)

i) Paid-up Capital 6,393,925,700 6,393,925,700 1,718,062,455 1,168,484,261

iii) General Reserve 742,431 - 930,222,916 657,427,567

9,042,953,501 8,219,837,527 b) Supplementary Capital (Tier-II)

i) General Provision 969,527,561 691,562,000 ii) Assets Revaluation Reserve (eligible) 554,989,560 569,248,413

1,524,517,122 1,260,810,413

10,567,470,623 9,480,647,940

d) Total Risk Weighted Assets 91,517,867,500 72,552,477,000

9,151,786,750 7,238,944,800

f) Total Capital Surplus (c-e) 1,415,683,873 2,528,794,452

Particulars2012 2011

Capital Maintained

5.00% 9.86% 5.00% 11.43% - 1.66% - 1.74%

Total 10.00% 11.52% 10.00% 13.17%

Particulars2012 2011

Capital Maintained

5.00% 9.88% 5.00% 11.33% - 1.67% - 1.74%

Total 10.00% 11.55% 10.00% 13.07%

14.6 Breakdown of gross Risk-Weighted Assets (RWA) in the various categories of risk-weightsSolo Basisa) Risk Weights for Credit Risk

Risk Weights (Both B/S & Off-B/S)

31.12.2012 31.12.2011Principal amount

Risk Weighted Assets

Principal amount

0% 14,025,100,000 - 9,181,800,000 - 20% 16,510,400,000 3,302,080,000 15,339,800,000 3,067,960,000 50% 19,233,600,000 9,616,800,000 9,258,000,000 4,629,000,000 75% 23,522,900,000 17,642,175,000 17,593,600,000 13,195,200,000 100% 25,079,500,000 25,079,500,000 13,812,931,000 13,812,931,000 125% 23,396,450,000 29,245,562,500 22,474,000,000 28,092,500,000 150% 444,100,000 666,150,000 2,020,100,000 3,030,150,000 Total 122,212,050,000 85,552,267,500 89,680,231,000 65,827,741,000

b) Risk Weights for Operational Risk 460,335,000 4,603,350,000 414,945,000 4,149,450,000 c) Risk Weights for Market Risk 182,780,000 1,827,800,000 241,225,700 2,412,257,000

Total Risk Weighted Assets 91,983,417,500 72,389,448,000 Consolidate basis

a) Risk Weights for Credit Risk

Risk Weights (Both B/S & Off-B/S)

31.12.2012 31.12.2011Principal amount

Principal amount

0% 14,025,300,000 - 9,181,800,000 - 20% 16,510,400,000 3,302,080,000 15,338,100,000 3,067,620,000 50% 19,233,600,000 9,616,800,000 9,258,000,000 4,629,000,000 75% 23,522,900,000 17,642,175,000 17,593,600,000 13,195,200,000 100% 25,086,700,000 25,086,700,000 13,976,300,000 13,976,300,000 125% 23,018,250,000 28,772,812,500 22,474,000,000 28,092,500,000 150% 444,100,000 666,150,000 2,020,100,000 3,030,150,000 Total 121,841,250,000 85,086,717,500 89,841,900,000 65,990,770,000

b) Risk Weights for Operational Risk 460,335,000 4,603,350,000 414,945,000 4,149,450,000 c) Risk Weights for Market Risk 182,780,000 1,827,800,000 241,225,700 2,412,257,000

Total Risk Weighted Assets 91,517,867,500 72,552,477,000

2012A) Credit Risk (amounts in crore Taka)

1. Balance Sheet Exposure Solo Consolidated

Sl. Exposure Type BB’s

Rating Grade

Risk Weight Exposure

Risk Weighted

Asset Exposure Risk Weighted

1 2 3 4 5 6 = (4×5) 7 8 = (4×7)

a) Cash and Cash 0% 110.45 - 110.47 -

than PSEs) and

foreign currency)

0% 1,292.06 - 1,292.06 -

c) 0% - - - -

d) for International

International

European Central

0% - - - -

e) Multilateral

0% - -

1 20% - - - - 2,3 50% - - - - 4,5 100% - - - - 6 150% - - - -

50% - - - - f)

Sector Entities 1 20% - - -

2,3 50% - - - 4,5 100% - - - 6 150% - - -

50% - - - g)

1 20% 550.56 110.11 550.56 110.11 2,3 50% 123.39 61.70 123.39 61.70 4,5 100% - - - 6 150% - - -

100% 22.59 22.59 22.59 22.59

2012 (amounts in crore Taka)

Solo Consolidated

Rating Grade

Risk Weighted

1 2 3 4 5 6 = (4×5) 7 8 = (4×7)

20% 837.74 167.55 837.74 167.55

h) Corporate

1 20% 192.49 38.50 192.49 38.50 2 50% 1,059.03 529.52 1,059.03 529.52

3,4 100% 1,291.62 1,291.62 1,291.62 1,291.62 5,6 150% - - - -

125% 1,059.03 1,323.79 1,059.03 1,323.79 i)

a) Corporate Corporate 125% 270.30 337.88 270.30 337.88 Retail and 125% 9.50 11.87 9.50 11.87

75% 1,750.94 1,313.21 1,750.94 1,313.21

100% 76.75 76.75 76.75 76.75 l)

secured by residential property

50% 457.09 228.55 457.09 228.55

secured by

estate

100% 589.37 589.37 589.37 589.37

provisions are less than 20 per cent of the outstanding 150% 44.41 66.62 44.41 66.62

provisions are no less than 20 per cent of the outstanding

100% 22.32 22.32 22.32 22.32

provisions are

per cent of the outstanding

50% 24.38 12.19 24.38 12.19

Solo Consolidated

Rating Grade

Risk Weighted

1 2 3 4 5 6 = (4×5) 7 8 = (4×7)

secured against residential property that are past due

90 days and/or

provision held there-against is less than 20% of outstanding

100% 34.84 34.84 34.84 34.84

secured against residential property that are past due by 90 days and /

held there-against

of outstanding

75% 30.33 22.75 30.33 22.75

o) 125% - - 110.18 137.73

regulatory capital

(other than those

capital) held in

125% 263.16 328.95 115.16 143.95

o) venture capital 150% - - - -

assets

100% 225.00 225.00 225.66 225.66

operating lease 100% - - - -

s) All other assets

shdharon sanchay patra, etc.)

0% 239.11 - 239.42 -

Solo Consolidated

Rating Grade

Risk Weighted

1 2 3 4 5 6 = (4×5) 7 8 = (4×7) ii) Staff loan/ 20% 66.93 13.39 66.93 13.39

in process for collection

20% - - - -

100% 20.67 20.67 20.67 20.67

iv) Other assets

provisions) 100% 0.60 0.60 0.66 0.66

2. Off-Balance Sheet Exposure

Sl. Exposure TypeBB’s

Rating Grade

Risk Weighted

1 2 3 4 5 6 = (4×5) 7 8 = (4×7) a)

c)for International

International

European Central

d)Multilateral

2,3 50%

4,5 100%

6 150%

Solo Consolidated

Sl. Exposure TypeBB’s

Rating Grade

Risk Weighted

1 2 3 4 5 6 = (4×5) 7 8 = (4×7) e)

Sector Entities (other than 1 20%

2,3 50%

4,5 100%

6 150%

i) Maturity over 3 1 20% - - - -

2,3 50% - - - -

4,5 100% - - - -

6 150% - - - -

100% - - - - ii) Maturity less 20% - - - -

g)Corporate 1 20% 3.32 0.66 3.32 0.66

2 50% 259.47 129.74 259.47 129.74

3,4 100% 224.19 224.19 224.19 224.19

5,6 150% - - - -

125% 737.66 922.08 737.66 922.08 h) Against retail

Enterprise 75% 571.02 428.27 571.02 428.27

i) 100% - - - - j)

secured by residential property

50% - - - -

secured by

estate

100% - - - -

l)venture capital 150% - - - -

All other assets 100% - - - - 3,807.66 1,704.93 1,795.66 1,704.93

B) Capital charge for Market RiskSolo Consolidated

Sl no. Details

Capital Charge for

General Market

Total Capital

Charge for

Market Risk

Total Capital Charge for General &

A. - - - - 6.12 6.12 12.24 12.24

C. - 6.03 6.03 6.03 6.12 12.15 18.27 18.27

C) Capital Charge for Operational Risk(Basic Indicator Approach)

Solo Consolidated

Year Average Gross Income

Capital Charge (15% of Average Gross Income)

Average Gross Income

Capital Charge (15% of Average Gross Income)

306.89 46.03 306.89 46.0320102009

2012 2011Taka Taka

15 Statutory Reserve

Opening balance 1,168,484,261 788,228,216 549,578,194 380,256,045

1,718,062,455 1,168,484,261

1,712,811,470 1,721,136,000 574,633,356 578,938,643

Balance of revaluation reserve 1,138,178,114 1,142,197,357 28,198,993 3,700,532

Remaining balance of revaluation reserve 1,109,979,121 1,138,496,825

a. The effective date of revaluation:

accounted for on 30.03.2011.

b. Valuer:

and ‘Royal Inspection have been assigned to carry on the valuation job.

c. Method used for determination of fair value:

of revaluation of the assets.

(amounts in Taka)

Class of property Book Value Revalued

AmountDepreciation

on book valueDepreciation on revalued amount

Amount of adjustment

392,185,810 1,328,800,000 9,804,645 33,220,000 23,415,355 2,111,623 12,330,000 - - - 1,155,183 2,445,427 28,880 61,136 32,256

31,488,144 60,026,690 787,204 1,500,667 713,463 26,198,991 79,105,053 654,975 1,977,626 1,322,651 38,996,436 76,102,478 974,911 1,902,562 927,651 18,372,691 32,848,942 459,317 821,224 361,907 64,124,478 121,152,880 1,603,112 3,028,822 1,425,710

574,633,356 1,712,811,470 14,313,044 42,512,037 28,198,993

17 Retained Earnings 2012 2011Taka Taka

Opening balance 711,300,013 422,730,575 (671,362,199) (418,294,200)

891,549,083 703,163,106 28,198,993 3,700,532

318,712 - 960,004,602 711,300,013

17(a) Consolidated retained earnings

657,427,567 419,815,418 (671,362,199) (418,294,200)

891,549,083 703,163,106 28,198,993 3,700,532

318,712 - 906,132,156 708,384,856

24,163,331 (50,932,093) (72,551) (25,238)

930,222,936 657,427,525

2012 2011Taka Taka

20 (41)

930,222,915 657,427,567

0.00008130081% and 0.00024% of total shares respectively.

Sl no. Shareholders

No. Shares Value of shares Percentage of holding of shares

1 12,299,990 2,499,994 1,229,999,000 249,999,400 99.999919% 99.99976%

2 1 1 100 100 0.000008% 0.00004%

3 1 - 100 - 0.000008% -

4 Major (Retd.) 1 1 100 100 0.000008% 0.00004%

5 1 1 100 100 0.000008% 0.00004%

6 Mr. Abdul Awal Patwary 1 1 100 100 0.000008% 0.00004%

7 1 - 100 - 0.000008% -

8 1 - 100 - 0.000008% -

9 1 1 100 100 0.000008% 0.00004%

10 1 1 100 100 0.000008% 0.00004%

11 Mr. A. Jabbar Mollah 1 - 100 - 0.000008% -

12,300,000 2,500,000 1,230,000,000 250,000,000 100.00% 100.00%

17.1 Current year retained earnings

1,441,127,276 1,083,419,151 549,578,194 380,256,045 891,549,083 703,163,106

17.1.1 Consolidated Current year retained earnings

1,465,218,057 1,032,461,820 549,578,194 380,256,045 915,639,864 652,205,776

20 (41) - -

915,639,844 652,205,816

2012 2011Taka Taka

17.2 Non-controlling interest

Paid up capital 1,230,000,000 1,230,000,000 Retained earnings (28,291,328) (52,454,659)General Reserve 742,432 Net Assets 1,202,451,104 1,177,545,341

Paid up capital 250,000,000 250,000,000 (1,490,388) (1,417,838)

Net Assets 248,509,612 248,582,163

Non-controlling interests

973 953

597 597

Total non-controlling interest 1,570 1,550

18 Contingent liabilities

18.1 Acceptances and Endorsements

5,189,558,700 1,197,754,700 1,834,947,997 1,775,573,525 4,011,699,800 2,479,740,121

352,278,000 302,174,000 1,246,269,500 2,649,876,656

12,634,753,997 8,405,119,002 18.2

1,847,561,500 1,483,942,500 1,173,500,400 733,070,100 1,301,287,200 1,022,070,800 2,575,739,886 3,102,378,521

315,118,000 148,163,000 182,387,907 294,627,955

7,395,594,893 6,784,252,876 18.3

4,949,826,296 3,277,969,675

18.4 Bills for collection

In-ward bills for collection 617,457,746 291,970,622 2,166,816,986 1,492,638,396 2,784,274,732 1,784,609,018

2012 2011Taka Taka

18.5 - -

18.6 Other Commitments - -

Total Off-balance sheet items 27,764,449,918 20,251,950,570

Income Statement (Note-19 to Note-38)

Income:

11,319,014,211 6,922,205,589

233,816,722 171,112,797

1,178,954,865 1,206,193,086

324,986,845 387,895,790 13,056,772,643 8,687,407,261

Expenses:

7,541,679,221 4,541,152,612 1,088,563,216 904,353,904

659,954,139 390,946,802 148,750,842 82,155,573

9,438,947,418 5,918,608,891 Income over expenditure 3,617,825,225 2,768,798,371

19 Income from Investment

524,583,818 417,725,952 5,630,407,600 2,890,727,533 1,798,329,456 1,374,049,763

43,330,992 29,208,047 1,271,101 440,569

640,934,900 479,948,995 440,016,815 355,953,364 822,852,244 352,481,781

27,026,714 2,661,164 1,060,471,625 949,092,662

326,224,028 69,915,760 3,564,917 -

11,319,014,211 6,922,205,589

19(a) Consolidated income from investment

11,319,014,211 6,922,205,589

Add: Income from investment of subsidiaries of SIBL 6,252,123 - 6,252,123 -

Grand total of consolidated investment income 11,325,266,334 6,922,205,589

2012 2011Taka Taka

Mudaraba Savings Deposits (MSD) 123,746,522 92,019,954 43,101,891 40,044,434

6,316,179,377 3,635,394,273 6,107,649 5,339,938

893,018,625 645,068,457 7,382,154,065 4,417,867,056

159,525,157 123,285,556

7,541,679,221 4,541,152,612

21 Income from Investment in Shares & Securities

111,022,091 38,688,811 2,590,786 11,509,398

70,000,000 70,000,000 50,203,845 50,914,588

233,816,722 171,112,797

22 Commission, Exchange & Brokerage

586,318,720 553,496,519 592,636,144 652,696,567

1,178,954,865 1,206,193,086

22(a) Consolidated income from commission, exchange & brokerage

1,178,954,865 1,206,193,086

Add: Income from commission, exchange & brokerage of subsidiaries of SIBL 15,524,695 - 15,524,695 -

Grand total of consolidated income from commission, exchange & brokerage 1,194,479,560 1,206,193,086

23 Other Operating Income 725 4,643

25 200,327 17,863,307 13,973,111 2,186,475 5,382,260

2012 2011Taka Taka

102,023,536 117,269,909 30,600,340 18,345,555

40,471 - 13,000 28,200

172,258,966 232,691,785 324,986,845 387,895,790

23 (a) Consolidated other operating income

324,986,845 387,895,790

Add: Other operating Income of subsidiaries of SIBL 12,581,531 - 12,581,531 -

Grand total of consolidated income from commission, exchange & brokerage 337,568,377 387,895,790

23.1 Other Charges

Rent receipts 5,654,830 2,874,383 328,200 299,600 206,033 122,957

3,046,832 1,042,250 163,023,072 228,352,594 172,258,966 232,691,785

24 Salary & Allowances

427,073,136 356,969,348 Allowances 389,771,095 346,255,964

211,762,002 145,140,113 8,582,757 9,269,011

37,245,541 32,080,267 4,128,685 3,479,201

1,078,563,216 893,193,904 24(a) Consolidated expenses for Salary and Allowance

1,078,563,216 893,193,904 Add: Salary and Allowance for subsidiaries 2,723,260 1,587,200

2,723,260 1,587,200- -

1,081,286,476 894,781,104

25 Rent, Taxes, Insurance & Electricity etc.

109,851,005 81,923,400 38,825,508 29,246,435 32,563,022 17,607,070

181,239,535 128,776,905

2012 2011Taka Taka

25(a) Consolidated expenses for rent, taxes, insurance & electricity

181,239,535 128,776,905

Add: Rent, Taxes, Insurance & Electricity etc. of subsidiaries 520,743 - 520,743 -

181,760,278 128,776,905 25.1

106,644,870 73,962,750 Rent (Garage) 216,580 381,633

2,151,605 6,987,011 109,013,054 81,331,394

Rates and Taxes 837,950 592,006 Total Rents, Rates & Taxes 109,851,005 81,923,400

25.2 Insurances

644,894 635,564 978,563 398,001

1,799,001 1,413,647 34,056,576 25,300,474

756,035 707,421 Other Insurance 590,439 791,328

38,825,508 29,246,435 25.3

28,384,831 14,027,724 2,463,327 1,990,940

- 3,330 Sub Total 30,848,158 16,021,994 Water & Sewerage 1,714,864 1,585,076

32,563,022 17,607,070 26

7,297,017 2,694,317 89,130 32,350

1,232,563 703,897 8,618,710 3,430,564

26(a) Consolidated legal expenses

8,618,710 3,430,564

- 17,685 - 17,685 - -

8,618,710 3,448,249

2012 2011Taka Taka

27 Postage, Stamps, Telecommunication etc.

Postage 10,716,250 8,244,130 Internet Charges 2,202,033 1,390,091

8,517,636 6,299,425 45,304 103,262

5,930 19,739 Telephone charges 4,129,430 3,522,556 Mobile phone charges 2,513,704 2,292,832

28,130,288 21,872,035

27(a) Consolidated expenses for Postage, Stamps, Telecommunication etc. 28,130,288 21,872,035

Add: Postage, Stamps, Telecommunication etc. expenses for subsidiaries 669,276 6,718 669,276 6,718

- - 28,799,564 21,878,753

28 Stationery, Printing, Advertisements etc.

Table Stationery 7,986,596 6,348,951 Printing Stationery 28,320,155 21,282,767

15,206,030 12,197,355 8,056,160 8,072,500 1,645,595 1,702,698

Other Publicity 19,379,434 5,063,377 80,593,969 54,667,648

28(a) Consolidated expense of Stationery, Printing, Advertisement etc.

80,593,969 54,667,648

182,407 19,430 182,407 19,430

- - 80,776,376 54,687,078

29 Managing Director’s Salary and Allowances

4,000,000 4,800,000 Allowances 4,200,000 4,560,000

1,800,000 1,800,000 10,000,000 11,160,000

30 Directors’ Fees & Meeting Expenses 1,598,500 2,798,000 2,197,374 2,682,373 3,795,874 5,480,373

2012 2011Taka Taka

30(a) Consolidated Directors’ fees & Meeting Expenses:

3,795,874 5,480,373 299,000 632,500 299,000 632,500

- - 4,094,874 6,112,873

31 Shariah Supervisory Committee’s Fees & Expenses

117,801 130,000 - 23,976

Others - - 117,801 153,976

32 Depreciation and Repair of Bank’s Assets

a) Depreciation of Bank’s Assets (Annexure A) - -

42,512,037 8,324,530 21,218,435 15,925,423 63,097,530 43,244,067

Vehicles 8,442,625 7,245,617 45,104 49,168

135,315,730 74,788,805 b) Repair on Bank’s Assets 13,435,111 7,366,768

13,435,111 7,366,768

Total of Depreciation and repair of Bank’s Assets 148,750,842 82,155,573

32(a) Consolidated balance of Depreciation and Repair charge

148,750,842 82,155,573 Add: Depreciation on assets of subsidiaries 773,057 28,897

773,057 28,897 - -

149,523,899 82,184,470 33 Other Expenses

9,757,400 7,804,279 15,423,236 15,432,419 19,946,177 8,097,067 12,301,526 13,535,374

Traveling allowances 9,179,924 7,283,250 3,579,920 2,420,871

109,994 119,424 522,387 651,565

Subscriptions to Institutions 5,602,500 3,274,200 46,862 39,614

618,210 780,070

2012 2011Taka Taka

Transportation charges 1,734,537 1,082,992 219,269 224,482 184,132 133,461

2,405,007 1,096,826 515,251 276,402

8,976,545 1,081,335 1,016,357 813,475 4,440,824 4,159,694

996,710 1,169,240 6,977,447 6,496,752

Security Services 55,277,015 35,135,292 Cleaner Services 2,487,247 918,592 Others wages 21,257,049 17,406,788

1,194,948 922,893 50,104 26,383

1,718,142 1,757,768 303,533 339,500

14,808,375 14,443,970 ATM Rent Hardware 32,156 600,000

- 681,585 602,360 503,500 261,235 358,817

8,870,128 8,076,634 126,173,365 -

18,985,232 18,908,662 356,575,106 176,053,176

33(a) Consolidated Other Expenses

356,575,106 176,053,176 Add:Other Expenses for SIBL Securities Limited 4,099,252 48,568,763

2,246,740 1,905,960 110,181 20,483 42,906 22,938

Others 1,699,425 46,619,382 Other Expenses for SIBL Investment Limited 58,750 11,438

42,848 - 10,920 11,438

Others 4,982 - 360,733,108 224,633,377

34 Provision for Zakat Fund

30,146,894 25,600,000 30,146,894 25,600,000

2012 2011Taka Taka

35 Provision against Investment, Off-Balance Sheet items & Others

285,356,045 365,898,418 173,483,062 163,954,940 104,482,499 47,821,392

Provision for other assets 222,654,542 162,630,000

shares and securities - 57,706,167

30,146,894 25,600,000 Provision for Gratuity 53,811,215 43,907,230

869,934,257 867,518,146

suspense account provided during the year.

35(a) Consolidated Provision against Investment, Off-Balance Sheet items & Others

869,934,257 867,518,146 Add:Provision for subsidiaries 742,432 -

742,432 - - -

870,676,689 867,518,146 36 Provision for Income Tax

1,301,591,387 816,364,597 5,172,304 1,496,476

1,306,763,692 817,861,07336(a) Consolidated Provision for Income Tax

1,306,763,692 817,861,073 171,791 -

- - 1,306,935,483 817,861,073

36.1 Current Year Tax Provision

Act, considering the allowances and disallowances.

36.2 Deferred Tax Expenses/(Income)

37 Earning Per Share (EPS)

2012 2011Taka Taka

1,441,127,276 1,083,419,151 639,392,570 600,047,006

Earning Per Share (EPS) 2.25 1.81

37(a) Consolidated Earning Per Share (EPS)

1,465,218,057 1,032,461,861 639,392,570 600,047,006

Consolidated Earning Per Share (EPS) 2.29 1.72

Notes for Cash Flow Statement (Note-39 to Note-44)

38 Income from Investment

11,319,014,211 6,922,205,589 - - - -

11,319,014,211 6,922,205,589

38(a) Consolidated income from investment

11,319,014,211 6,922,205,589 6,252,123 - 6,252,123 -

Grand total 11,325,266,334 6,922,205,589

592,636,144 652,696,567 Rent receipts 5,654,830 2,874,383

725 4,643 25 200,327

17,863,307 13,973,111 2,186,475 5,382,260 3,046,832 1,042,250

163,023,072 219,403,976 102,023,536 117,269,909

30,600,340 18,345,555 40,471 -

206,033 122,957 13,000 28,200

328,200 299,600 917,622,990 1,031,643,737

2012 2011Taka Taka

917,622,990 1,031,643,737 12,581,531 - 12,581,531

- 930,204,521 1,031,643,737

40 Payment to others

106,644,870 73,962,750 Rent (Garage) 216,580 381,633 Rent (Godown) 2,151,605 6,987,011

837,950 592,006 644,894 635,564 978,563 398,001

1,799,001 1,413,647 34,056,576 25,300,474

756,035 707,421 Other Insurance 590,439 791,328

28,384,831 14,027,724 2,463,327 1,990,940

- 3,330 1,714,864 1,585,076 8,618,710 3,430,564 3,795,874 5,480,373

117,801 153,976 882,855 512,125

Repairs and Maintenance 13,435,111 7,366,768 356,575,106 176,053,176 564,664,993 321,773,887

40(a) Consolidated payment to others

564,664,993 321,773,887

Payment to others- Subsidiaries 5,005,345 49,315,086 4,932,795 49,268,948

72,550 46,138

569,670,338 371,088,973

41 Cash Increase/ Decrease in Other Assets

15,992,283 12,273,865 145,434,127 99,398,820

Security Deposit 3,948,732 3,974,914 2,522,022,946 3,010,096,228

2012 2011Taka Taka

376,127,658 290,156,467 33,569 5,634,266

411,571 302,875 955,088 43,243

2,391,120,492 1,464,297,052 1,875,347 1,377,245 1,401,205 1,340,205

374,545,000 325,260,000.00 3,564,917 -

1,205,337,688 845,909,906 7,042,770,623 6,060,065,086

Difference between (31.12.2012, 2011) (982,705,537) (3,140,073,646) 926,823,440 621,735,692

Net change in Other Assets (55,882,097) (2,518,337,954)

41(a) Consolidated cash increase/decrease in other assets

7,042,770,623 6,060,065,086 1,123,040,482 1,035,132,550 8,165,811,105 7,095,197,636

Difference between (31.12.2012, 2011) (1,070,613,469) (4,177,933,646) 929,894,508 621,735,692

Consolidated net change in Other Assets (140,718,961) (3,556,197,954)

11,623,498 5,974,078 Other Payable 1,291,813 2,655,875

383,644,225 278,062,361 37,695,442 26,116,102

304,827,189 283,964,994 71,081,185 248,100,000

167,132,732 111,408,106 3,184,624 3,101,407

- 20,403 3,820,731 3,716,548 6,595,602 -

990,897,040 963,119,874

27,777,166 337,314,424 27,777,166 337,314,424

248,100,000 35,000,000 19,654,080 15,601,465 45,672,080 30,124,950

414,000 - 138,567,510 409,544,053

71,569,496 (82,956,044)

2012 2011Taka Taka

42(a) Consolidated cash increse/decrease in other liabilities

990,897,040 963,119,874 9,467,522 158,595

1,000,364,562 963,278,469

Difference between (31.12.2012, 2011) 37,086,093 337,408,569 43,792,330 (420,270,468) 80,878,423 (82,861,899)

Cash in Hand 1,104,528,222 1,065,642,134 10,020,554,834 4,601,857,225 11,729,376,330 10,774,826,161

849,779,375 618,982,002 23,704,238,761 17,061,307,522

23,704,238,761 17,061,307,522

13,472,482 3,233 13,459,312 3,233

13,170 -

23,717,711,242 17,061,310,755 44 Number of Employees

p.a or above were 1625.

45 Audit Committee

Sl. No. Name Status with the Bank Status with the Committee

1 Director2 Abdul Awal Patwary Director3 Director4 Director5 Mr. A Jabbar Mollah Independent Director

46 Related Party Disclosures

No Name Name of Firms/Business Organizations Where the

1 Md. Anisul Hoque Director, Finance & AccountsChairmanRepresentative of: Hamdard Laboratories(WAQF) Bangladesh. 291/1, Sonargaon Road, Dhaka

2 Alhaj Sk. Mohammad Rabban Ali Managing DirectorVice Chairman

Proprietor

3 Mr. Md. Sayedur Rahman Managing DirectorVice Chairman

4 Major (Retd.)Dr. Md. Rezaul Haque ChairmanDirector

Sponsor Director

5 Alhaj Sultan Mahmood Chowdhury ProprietorDirector

Managing DirectorProgati Metal Industry

6 Abdul Awal Patwary ChairmanDirector

Managing Director

Proprietor

No Name Name of Firms/Business Organizations Where the

7 Alhaj Nasiruddin Managing DirectorDirector

Proprietor

8 Mohammad Azam ProprietorDirector

9 Mr. Mohammad Fazlay Morshed Managing DirectorDirector(Representative of Namreen Enterprise)

10 Mr. Abdul Jabbar Mollah Managing DirectorIndependent Director

A Related Party Transaction

Name of Party Name of the Director

Relationship Nature of Investment

Outstanding Amount (Taka)

Status

Mr. AbdulAwal patwary HPSM 20.50 lac

Mr. AbdulAwal patwary 11.87 lac -

Investment Policies to Related Parties

47 Post Balance Sheet events (BAS-10)

48 General

and securities.

ank’

ital f

ital r

Particulatars 2012 2011

1 Paid up Capital 6,393,925,700 6,393,925,700

2 10,596,509,878 9,534,520,386

3 1,398,168,128 2,295,575,586

4 11.52% 13.17%

5 Total Assets 115,165,953,013 85,626,315,629

6 Total Deposit 93,594,292,471 66,852,551,081

7 76,024,973,908 53,908,575,772

8 27,764,449,918 20,251,950,570

9 89.43% 94.65%

10 3.33% 3.93%

11 3,617,825,225 2,768,798,371

12 1,441,127,276 1,083,419,151

13 2,532,858,494 2,116,130,803

14 970,134,819 691,947,212

15 Provisions surplus - -

16 Cost of Deposits 9.12% 7.38%

17 94,748,144,597 70,543,742,091

18 20,417,808,416 15,082,573,538

19 3.81% 3.26%

20 Return on Assets (ROA) 2.75% 2.70%

21 14.15% 11.51%

22 233,816,722 171,112,797

23 Earning Per Share 2.25 1.81

24 2.25 1.81

25 8.61 14.51

t of C

OFF-SHORE BANKING UNIT (OBU)

2012 2011USD Taka USD Taka

PROPERTY AND ASSETS

Cash - - - - - - - -

- - - - Balance with other Banks and Financial Institutions

- - - - 307 24,663 - - 307 24,663 - -

Placement with Banks & other Financial Institutions - - - - Investments in Shares & Securities - - - -

- - - - Others - - - -

- - - - Investments

2,529,937 203,153,922 - - - - - -

2,529,937 203,153,922 - - Fixed Assets including Premises, Furnitures and Fixtures 1,681 117,433 - - Other Assets 44,395 3,564,917 - - Non Banking Assets

Total Assets 2,576,320 206,860,935 - -

Borrowing from Banks & other Financial Institutions 2,529,664 203,132,011 - - Deposits and Other Accounts 76 6,103 - -

Mudaraba Savings Deposits - - - - - - - -

Other Mudaraba Deposits - - - - 76 6,103 - -

- - - -

46,580 3,722,821 - - - - - -

2,576,320 206,860,935 - -

Paid-up Capital - - - - Statutory Reserve - - - -

- - - - Retained Earnings - - - -

- - - - 2,576,320 206,860,935 - -

2012 2011

USD Taka USD Taka

- - - - - - - - - - - - - - - - - - - -

Total - - - -

OTHER COMMITMENTS

transactions - - - -

- - - -

facilities - - - -

- - - - Total - - - -

Total Off Balance Sheet Items including - - - -

FOR THE YEAR ENDED 31 DECEMBER 2012

2012 2011

USD Taka USD Taka

44,395 3,564,917 - - - - - -

Net Investment Income 44,395 3,564,917 - -

- - - - 504 40,471 - -

Total Operating Income 44,899 3,605,388 - -

5,230 419,980 - - 305 24,467 - - 219 17,567 - -

Total Operating Expenses 5,754 462,014 - -

- - - - - - - - - - - -

Total Provision - - - -

39,145 3,143,375 - -

Provision for Income Tax - - - -

39,145 3,143,375 - -

FOR THE YEAR ENDED 31 DECEMBER 2012

2012 2011USD Taka USD Taka

Cash Flow from operating activities 44,395 3,564,917 - -

- - - - Dividend receipts - - - -

504 40,471 - - (5,230) (419,980) - -

- - - - - - - - - - - -

(305) (24,467) - - 39,364 3,160,942 - -

Changes in operating assets and liabilities Statutory deposits - - - -

- - - - - - - -

(2,529,937) (203,153,922) - - Other assets (44,395) (3,564,917) - -

2,529,664 203,132,011 - - 76 6,103 - -

- - - - Trading liabilities - - - - Other liabilities 7,435 579,447 - - Sub Total (37,157) (3,001,278) - -

2,207 159,663 - -

- - - - - - - -

(1,900) (135,000) - - - - - -

Purchase/Sale of subsidiaries - - - - (1,900) (135,000) - -

- - - - - - - - - - - -

Dividend paid in cash - - - - - - - -

307 24,663 - -

- - - - 307 24,663 - -

Off-shore Banking Unit (OBU)Notes to the Financial Statements

For the year ended 31 December 20121 Status of the unit

1.1 Principal activities

2.1 Basis of accounting

2.2 Use of estimates and judgments

future periods affected.

2.3 Foreign currency transaction

a) Foreign currencies translation

b) Commitments

c) Translation gains and losses

2.4 Reporting period

2.5 General Investments

Provision for liabili es

2.6A provision is recognised in the balance sheet when the unit has a legal or constructive obligation as a result of

Fees and commission income

effecting the transactions.

2.9 Allocation of common expenses

2.10 General

SIBL BRANCHS NETWORK

DHAKA DIVISION

CHITTAGONG DIVISION

BARISAL DIVISION

KHULNA DIVISION

RAJSHAHI DIVISION

RANGPUR DIVISION

SYLHET DIVISION

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