Al-Arafah Islami Bank: 3rd Quarter (Q3) Financial Statement 2019 (un-audited)

Transcription

1. 3rd Quarter (Q3) Financial Statement 2019 (un-audited) Consolidated Balance Sheet ( Un-Audited) Consolidated Profit or Loss Accounts (Un-Audited) Consolidated Cash Flow Statement ( Un-Audited) As at September 30, 2019 For the period ended September 30,2019 For the period ended September 30, 2019 30-09-2019 Taka PROPERTY AND ASSETS Cash in hand Cash in hand (including foreign currencies) Balance with Bangladesh Bank and its Agents Banks (including foreign currencies) Balance with other Banks and Financial Institutions In Bangladesh Outside Bangladesh Placement with Banks & Other Financial Institutions Investment in Share & Securities Government Others Investments General Investments etc. Bills purchased and discounted Fixed assets less Accumulated Depreciation Other Assets Non-Banking Assets Total Assets LIABILITIES AND CAPITAL Liabilities Placement from Banks & Other Financial Institutions Deposits and other Accounts Mudaraba Savings Deposits Mudaraba Term Deposits Other Mudaraba Deposits Al-wadeeah Current Accounts and Other Accounts etc. Bills Payable Other Liabilities Deferred tax Liabilities/ (Assets) AIBL Mudaraba Subordinated Bond Total Liabilities Capital/Share holders Equity Paid -up Capital Statutory Reserve Revaluation Reserve Retained Earnings Total Equity attributable to equity holders of the bank Non-Controlling Interest Total Equity Total Liability and Share holders equity OFF BALANCE SHEET ITEMS Contingent Liabilities Acceptance and endorsement Letters of Guarantee Letters of Credit Bills for Collection Other Contingent Liabilities Total Other Commitments : Documentary Credits and other short term trade related transactions Forward Assets Purchased and forward Deposit placed Undraw note issuance and Revolving underwriting Facilities Undraw Formal standing Facilities, Credit lines and others commitments Total Off Balance sheet items including Contingent liabilities Chief Financial Officer Company Secretary 31-12-18 Taka 2,972,983,049 24,053,006,806 27,025,989,855 2,616,496,304 23,104,623,105 25,721,119,409 5,915,784,934 9,474,853,835 15,390,638,769 13,200,000,000 15,211,073,564 13,500,000,000 1,711,073,564 2,005,164,277 8,303,795,224 10,308,959,502 8,200,000,000 12,214,670,316 11,000,000,000 1,214,670,316 258,604,242,129 16,327,480,946 274,931,723,075 4,488,325,745 17,282,975,091 50,875,037 367,581,601,138 244,932,304,989 16,941,828,811 261,874,133,800 4,494,609,175 15,600,927,973 50,875,037 338,465,295,212 28,553,298,209 21,759,835,650 45,415,966,288 157,597,294,427 52,491,841,602 26,204,764,555 3,317,145,031 285,027,011,903 24,965,140,734 60,903,190 6,800,000,000 345,406,354,036 37,678,761,490 152,181,785,427 49,467,884,447 24,454,571,622 2,422,489,486 266,205,492,472 19,450,871,395 165,866,439 7,400,000,000 314,982,065,956 10,649,021,850 8,632,812,656 977,642,839 142,421,419 20,401,898,763 1,773,348,338 22,175,247,102 367,581,601,138 10,440,217,500 8,388,044,096 977,583,714 1,908,962,937 21,714,808,247 1,768,421,008 23,483,229,256 338,465,295,212 32,122,607,067 7,398,895,488 35,004,266,999 2,405,785,065 76,931,554,620 34,615,080,021 7,096,016,003 27,266,995,989 4,069,866,667 73,047,958,680 76,931,554,620 73,047,958,680 Managing Director Director Chairman Investment Income Profit paid on deposits & Borrowing Net Investment Income Income from Investment in Shares /Securities Commission, Exchange and Brokerage Other Operating Income Total operating income Salaries and allowances & contribution to P.F Directors fees & expenses Shariah Supervisory Committee’s fees & expenses Rent, taxes, insurance and lighting etc. Postage, telegram, telephone and stamp etc. Legal charges Auditors’ fee Salary & Allowances to the Managing Director Depreciation and repairs to the bank’s properties Stationery, printing & advertisement etc. Other expenses Total operating expenses Profit/(Loss) before Tax & provision Provision against Investments & Contingent Liabilities Provision for diminution in value of investment Other Provision Total provision Profit/(Loss) before Tax Current tax Deferred tax Provision for Taxation Net Profit/(Loss) after tax Net Profit attributable to: Equity holders of the bank Non-controlling Interest Profit for the year Appropriation Statutory Reserve Non-Controlling Interest Transfer to Retained Earnings Earning per Ordinary Share Chief Financial Officer 01-01-2019 to 30-09-2019 Taka 21,374,369,140 (13,984,974,394) 7,389,394,746 399,963,457 2,208,042,164 245,611,787 2,853,617,408 10,243,012,154 3,247,057,468 8,685,348 537,127 553,857,780 63,099,748 9,090,392 243,500 14,628,756 447,884,106 110,701,044 473,517,877 4,929,303,145 5,313,709,009 3,273,917,809 17,488,184 3,291,405,993 2,022,303,016 1,869,274,920 (104,963,249) 1,764,311,670 257,991,346 01-01-2018 to 30-09-2018 Taka 18,652,152,816 (12,803,120,480) 5,849,032,336 273,555,878 1,988,217,367 227,645,581 2,489,418,826 8,338,451,162 3,055,880,422 11,273,438 560,969 545,601,221 70,884,564 12,459,377 207,250 12,754,000 349,230,102 140,226,402 467,699,659 4,666,777,403 3,671,673,758 1,813,271,280 1,813,271,280 1,858,402,478 1,070,699,792 13,585,400 1,084,285,192 774,117,287 769,263,468 4,853,819 774,117,287 368,893,020 4,853,819 373,746,839 400,370,448 0.72 253,064,016 4,927,330 257,991,346 244,768,560 4,927,330 249,695,890 8,295,456 0.24 Company Secretary 01-07-2019 to 30-09-2019 Taka 7,252,596,064 (5,192,579,179) 2,060,016,885 183,990,503 725,656,512 58,282,842 967,929,857 3,027,946,742 1,068,092,145 790,883 145,027 205,504,939 23,089,595 2,847,775 57,500 4,350,000 166,731,327 27,290,505 146,553,234 1,645,452,931 1,382,493,811 1,147,042,749 3,498,965 1,150,541,714 231,952,097 565,656,914 (46,968,779) 518,688,134 (286,736,038) 01-07-18 to 30-09-18 Taka 6,596,056,654 (4,368,057,443) 2,227,999,211 93,303,003 691,407,616 58,470,233 843,180,852 3,071,180,064 1,078,882,797 4,681,124 220,571,021 23,142,804 3,120,184 46,000 3,630,000 140,255,496 47,054,908 150,336,112 1,671,720,446 1,399,459,618 688,663,500 688,663,500 710,796,118 310,827,799 8,017,337 318,845,137 391,950,981 (286,851,654) 115,616 (286,736,038) 324,605,760 67,345,221 391,950,981 (110,960,531) 115,616 (110,844,915) (175,891,122) (0.27) 105,472,038 67,345,221 172,817,259 219,133,722 0.30 Managing Director Director Cash flows from operating activities Investment income receipt in Cash Profit paid on deposits and borrowing Dividend received Fees & Commission received in cash Recoveries from written off investments Cash payments to employees Cash payments to suppliers Received from other operating activities (item-wise) Paid for other operating activities (item-wise) Advance income tax paid Operating profit before changes in operating assets and liabilities Changing in Operating assets & liabilities Increase/(Decrease) of trading securities Increase/(Decrease) of placement to other banks Increase/(Decrease) of Investment and advances to customers (other than Banks) Increase/(Decrease) of other assets (item-wise) Increase/(Decrease) of placement from other banks and financial institution Increase/(Decrease) of Deposits from customers (other than Banks) Increase/(Decrease) of Other liabilities account of customers Increase/(Decrease) of Trading liabilities (item-wise) Cash receipt from operating activities A. Net Cash from operating activities Cash flows from investing activities: Proceeds from sale of securities Payments for purchases of securities Purchase of property, plant and equipment Sales proceeds of Fixed assets Purchase-sale of subsidiary B. Net cash flows from investing activities Cash flows from financing activities Increase in Exchange Equalization Account Issue of AIBL Subordinate Bond Dividend paid C. Net cash flows from financing activities D. Net increase in cash and cash equivalent (A+B+C) E. Effects of exchange rate changes on cash and cash-equivalents F. Net increase in cash and cash equivalent D+E G. Cash & Cash Equivalents at the beginning of the year H. Cash & Cash Equivalents period ended Chief Financial Officer Chairman Company Secretary 30-09-2019 Taka 30-09-2018 Taka 21,694,300,495 (13,431,220,971) 15,405,189 2,208,042,164 94,363,578 (3,261,686,224) (110,701,044) 245,611,787 (1,173,987,320) (1,594,929,058) 4,685,198,597 18,572,012,390 (11,933,498,956) 16,456,984 1,988,217,367 124,258,720 (3,068,634,422) (140,226,402) 227,645,581 (1,183,825,565) (511,150,667) 4,091,255,031 (496,403,248) (5,000,000,000) (14,125,920,685) (96,854,723) 6,793,462,559 18,267,766,008 1,392,790,943 6,734,840,854 11,420,039,451 (367,516,236) (367,516,236) 1,262,396,732 (1,600,000,000) (17,859,241,004) (2,167,253,396) (6,811,519,334) 20,972,229,653 2,160,415,509 (4,042,971,839) 48,283,192 (1,254,508,906) (1,254,508,906) 59,125 (600,000,000) (1,566,032,625) (2,165,973,500) 8,886,549,715 8,886,549,715 47,030,078,911 55,916,628,625 50,868 (1,491,459,642) (1,491,408,774) (2,697,634,488) (2,697,634,488) 59,164,636,804 56,467,002,315 Managing Director Director Chairman Consolidated Statement of Changes in Equity (Un-Audited) For the period ended September 30, 2019 Particular Balance at 1st January, 2019 Changes in accounting policy offload share Restated Adjustment Restated balance Surplus/deficit on account of revaluation of properties Surplus/deficit on account of revaluation of investments Currency translation differences recognized in the income Share premium Net profit for the year Cash Dividend Bonus Share Issue of share capital of subsidiary Gain on pre acquisition of subsidiary Revaluation of subsidiary Transferred to retained earning Appropriations during the year Balance as at September 30, 2019 Balance as at September 30, 2018 Chief Financial Officer Paid up Capital Statutory Reserve Retained Earnings Asset Revaluation Reserve 10,440,217,500 8,388,044,096 1,908,962,937 977,583,714 10,440,217,500 8,388,044,096 1,908,962,937 977,583,714 59,125 253,064,016 (1,566,032,625) 208,804,350 (208,804,350) 244,768,560 (244,768,560) 10,649,021,850 8,632,812,656 142,421,419 977,642,839 10,440,217,500 7,945,474,134 670,913,393 980,427,093 Company Secretary Total 21,714,808,249 21,714,808,249 59,125 253,064,016 (1,566,032,625) 20,401,898,763 20,037,032,119 Managing Director Non-Controlling Interest 1,768,421,008 1,768,421,008 4,927,330 1,773,348,338 1,766,351,174 Total Equity 23,483,229,256 23,483,229,256 59,125 257,991,346 (1,566,032,625) 22,175,247,102 21,803,383,294 Director Chairman Notes to the Financial Statements For the period ended September 30, 2019 1. The Bank and its activities Al-Arafah Islami Bank Limited was established in 1995 under the Companies Act, 1994 as a Banking Company with Limited Liability by shares. It is an interest free Shariah Bank of Bangladesh rendering all types of commercial banking services under the regulation of Bank Companies Act, 1991 (as amended 2013) . The Bank conducts its business on the principles of Musharaka, Bai-Murabaha, Bai-Muazzal and Hire Purchase transactions approved by Bangladesh Bank. Naturally, its modes and operations are substantially different from those of other conventional commercial banks. There is a Shariah Supervisory Committee in the bank who maintains constant vigilance to ensure that the activities of the bank are being conducted on the percepts of Islam. The Shariah Supervisory Committee consists of prominent Ulema, reputed Bankers. The Bank went for public issue of share in the year 1998 and its share are listed with Dhaka Stock Exchance (DSE) and Chaittagong Stock Exchange (CSE). Presently the bank has 174 Branches and 3 (three) Subsidiary Companies. The principal activities of the Bank are to provide a comprehensive range of financial services including commercial banking, consumer banking, trade finance and other related custody and clearing services to the customers following the provisions of Bank Companies Act, 1991 (as amended), Bangladesh Bank’s directives and the principles of Islamic Shariah. 2. Subsidiaries of the Bank Al-Arafah Islami Bank Ltd has three subsidiary companies. The financial statements of these subsidiary companies are included in the consolidated financial statements according to BFRS-10. 2.1 AIBL Capital Market Services Limited Al-Arafah Islami Bank Ltd. owned 60.50% shares of AIBL Capital Market Services Ltd. a subsidiary company of Al-Arafah Islami Bank Limited. AIBL Capital Market Services Ltd. incorporated in Bangladesh on 20 September 2010 as a Public Limited Company. The principal activities of subsidiary company is to provide quality services to the prospective institutional and individual investors in the capital market The main activities and functions of the company include; I. Share trading in Dhaka Stock Market and Chittagong Stock Market. II. Provide Margin facilities to the client. III. Full service depository participant of Central Depository of Bangladesh Ltd. 2.2 AIBL Capital Management Limited Al-Arafah Islami Bank Ltd. owned 98% shares of AIBL Capital Management Limited a subsidiary company of Al-Arafah Islami Bank Limited AIBL Capital Management Limited has been incorporated under the companies act (Act XVIII) of 1994 as a Private limited Company by share on 25th October 2011. The company was entitled to commence the business also from 25th October 2011 with a view to run and manage the operations of Merchant Banking Services with an authorized Capital of BDT 2 billion and paid up capital of BDT 500 million . It aims to be one of the leading Merchant Banks of the country by rendering quality Merchant Banking Services with a high level of professional expertise and integrity 2.3 Millennium Information Solution Limited Al-Arafah Islami Bank Ltd. owned 51% shares of Millennium Information Solution Limited a subsidiary company of Al-Arafah Islami Bank Limited Millennium Information Solution Limited, a private limited Company was incorporated in Bangladesh under the companies act 1994 on February 11, 2001. The main objective of company is to carry on activities relating to developing software products and providing maintenance and support services both the domestic and international clients. Over the years, MILS has established itself as the leading software developer, implementation and service provisioning company in Bangladesh which adheres to the rules of Islamic Shariah. 3. Basis of preparation and significant accounting policies 3.1 Preparation of financial statements The consolidated financial statements of the group and the financial statements of the bank have been prepared on a going concern basis under the historical cost convention and on Generally Accepted Accounting Principles consistently with those of previous years. Although the operation of the Bank are in strict compliance with the rules of Islamic Shariah, the financial statements have been prepared in accordance with the Bank Companies Act 1991, in particular Banking Regulation and Policy Department (BRPD) circular no.15 (09 November 2009) other Bangladesh Bank circulars, the Companies Act 1994, the Securities and Exchange Rules 1987, Dhaka and Chittagong Stock Exchanges Listing Regulations, other laws and rules applicable in Bangladesh and International Accounting Standard (IAS) and International Financial Reporting Standard (IFRS) as adopted by the Institute of Chartered Accountants of Bangladesh (ICAB) into Bangladesh Accounting Standard (BAS) and Bangladesh Financial Reporting Standard (BFRS) where relevant to the Bank to the extent that these do not contradict with the applicable statutory provisions and standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions. 3.2 Basis of Consolidation A separate set of records for consolidating the Statements of Affairs and Income & Expenditure Statements of the branches are maintained at the Head Office of the Bank in Dhaka from which the financial statement are dawn up. Subsidiaries are entities controlled by the group. Control exists when the group has the power to govern the financial and operational policies of an entity, so as to obtain economic benefits from its activities. The consolidated financial statements incorporate the financial statements of Al-Arafah Islami Bank Limited and the financial statements of subsidiary companies from the date that control commences until the date that control ceases. The financial statements of such subsidiary companies are incorporated on a line by line basis and the investments held by the bank is eliminated against the corresponding share capital of subsidiaries in the consolidated financial statements. Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions are eliminated in preparing the consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there are no evidence of impairment. 3.3 Cash flow Statement Cash flow statement is prepared principally in accordance with BAS-7 “Statement of Cash flow “ and the cash flow from the operating activities have been presented under direct method as prescribed by the Securities and Exchange Rules 1987 and considering the provision of paragraph is (b) of BAS-7 which provides that enterprise are encouraged to report cash flow from operating activities using the direct method. 3.4 Investments: Investments are stated in the Balance Sheet net of profit receivable/mark-up profit. a) Investment write-off: Investments are normally written off, when there is no realistic prospect of recovery of these amounts in accordance with BRPD Circular No.2 (13 January 2003). A separate Investment Administration and Recovery Department (IARD) have been set up at the Head Office, which monitors investment written off and legal action through the Money Court. These write-offs do not undermine or affect the amount Claimed against the borrower by the bank. The Investment Administration and Recovery Department (IARD) maintain a separate ledger for all individual cases written off by each branch. The IARD follow-up on the recovery efforts of these written off investment and reports to management on a periodic basis. Written off investment are reported to the Credit Information Bureau (CIB) of Bangladesh Bank. b) Investment in shares and securities: All investment in shares are revalued at the year end. Unquoted shares are valued based on book value of the most recent audited financial statement. Provisions are made for any loss arising from diminution in value of investments c) Investment in subsidiaries: The bank has made investment in subsidiary companies named one AIBL Capital Market Service Ltd Tk. 242.00 crore holding 60.50% shares and the rest of 39.50% shares hold by others, second one named AIBL Capital Management Ltd. Tk. 49.00 crore holding 98.00% shares and the rest of 2.00% shares hold by others and third one Millennium Information Solution Limited Tk. 15.00 crore holding 51.00% shares and the rest of 49.00% shares hold by others. 1.5 Depreciation of Fixed Assets The depreciable amount of an item of Fixed Assets has been allocated on a systematic basis over its useful life. The depreciation method is reflected the pattern in which the asset’s economic benefits are consumed by the enterprise. The depreciation charge for each period should be recognized as an expense unless it is included in the carrying amount of another asset. a) Depreciation is charged on monthly basis on straight-line method on all fixed assets at the following rates per annum: Name of Assets Furniture Fixture (Wood) Furniture Fixture (Steel) Computer Computer Accessories Motor Car Machine Equipment & Appliances Books & Library Online Hardware Land Buildings Interior Decoration Rate of Depreciation 10.00% 10.00% 20.00% 20.00% 20.00% 20.00% 10.00% 20.00% nil 2.50% 10.00% Useful Life 10 Years 10 Years 5 Years 5 Years 5 Years 5 Years 10 Years 5 Years N/A 40 Years 10 Years b) On addition of fixed assets depreciation is to be charged from the month of acquisition. Whole month depreciation is to be charged if such assets are acquired in the first half of the month and no depreciation is to be charged if such assets are acquired in the second half of the month. c) On the month of disposal of fixed assets, no depreciation is to be charged. The cost and accumulated depreciation of disposed assets are eliminated from the fixed assets schedule and gain or loss on such disposal is reflected in the income statement. 1.6 Amortization of Intangible Assets The depreciable amount of an item of Intangible Assets has been allocated on a systematic basis over the best estimated of its useful life. The amortization should commence when the assets is available for use. a) Amortization is charged on monthly basis on straight-line method on all Intangible assets at the following rates per annum: Name of Intangible Assets Rate of Depreciation Useful life Online Software 20.00% 5 Years b) On addition of Intangible assets Amortization is charged from the month of acquisition. Whole month Amortization is charged if such assets are acquired in the first half of the month and no Amortization is charged if such assets are acquired in the second half of the month. c) On the month of disposal of Intangible assets, no Amortization is charged. The cost and accumulated Amortization of disposed assets are eliminated from the fixed assets schedule and gain or loss on such disposal is reflected in the income statement. 1.7 Provision for taxation a. Current tax Provision for current income tax has been made @ 37.50% as prescribed in the Finance Act 2018 of the profit made by the bank considering taxable add-back of income and disallowance of expenditure in compliance with BAS-12 “ Income Taxes”. Tax return for the income year 2017 (Assessment year 2018-2019) has been filed but assessment is to be done by the tax authority. b. Deferred tax The bank recognized deferred tax in accordance with the provision of BAS-12. Deferred tax arises due to temporary difference deductible or taxable for the events or transaction recognized in the income statement. A temporary difference is the difference between the tax bases of assets or liability and its carrying amount/ reported amount in the financial statement. Deferred tax assets or liability is the amount of income tax payable or recoverable in future period(s) recognized in the current period. The deferred tax assets/expenses does not create a legal liability/recoverability to and from the income tax authority. The bank recognizes deferred tax on 100% specific provision investment which will be written off as per Bangladesh Bank Circulars. Calculation of Deferred Tax for period ended 30th June 2019: Particulars Items arising from temporary Difference 1.Fixed Asset Net deferred tax liability (asset) As per Books of Account As Per Tax Temporary difference Tax Rate Taxable/ (Deductible) 4,297,802,781 1,367,350,690 2,930,452,091 2,761,055,979 169,396,112 37.50% Caring Amount Asset not Depreciable Net caring Amount Tax Base Deferred Tax Liability / (Asset) 63,523,542 63,523,543 Deferred tax Assets (income)/Liability Expenses Balance as on 1st January 2019 168,486,792 Provision required as on 30th September 2019 (104,963,249) 63,523,543 Balance as on 30th September 2019 3.8 Non-controlling interest Non-controlling interest is that portion of the profit or loss and net assets of the subsidiaries (AIBL Capital Market Services Limited and AIBL Capital Management Limited) attributable to equity interests that are not owned, directly or indirectly through subsidiaries, by the parent (Al-Arafah Islami Bank Limited). 3. Reporting period: The financial statements cover from 01 January to 30 September, 2019. 4. Consolidated Earnings Per Share (CEPS), (CEPS), (NOCFPS), (NAV) Earnings per share have been calculated in accordance with BAS - 33: “Consolidated Earnings Per Share (CEPS)”. Particulars Net profit after tax (Numerator) Less : Non-Controlling Interest Net profit after tax Less : Non-Controlling Interest Weighted average number of ordinary shares outstanding Consolidated earnings per share (CEPS) Net Operating Consolidated Cash Flows Per Share (NOCFPS) Consolidated Net Assets Value (CNAV) Per Share 01-01-19 01-01-18 01-07-19 01-07-18 to to to to 30-09-19 30-09-18 30-09-19 30-09-18 Taka Taka Taka Taka 257,991,346 774,117,287 (286,736,038) 391,950,981 4,927,330 4,853,819 115,616 67,345,221 253,064,016 769,263,468 (286,851,654) 324,605,760 1,064,902,185 1,044,021,750 1,064,902,185 1,044,021,750 0.24 0.72 (0.27) 0.30 10.72 0.05 19.16 20.39 6. Retained Earnings Opening balance beginning of the year Add: Net Profit / (loss) after tax during the year Less : Bonus Share Less : Cash Dividend Paid Less : transfer to Statutory Reserve Closing Balance 30-09-2019 Taka 1,908,962,937 253,064,016 (208,804,350) (1,566,032,625) (244,768,560) 142,421,419 31-12-2018 Taka 2,259,155,807 2,449,882,975 (497,153,220) (1,491,459,642) (811,462,982) 1,908,962,937 30-09-2019 30-09-2018 Taka Taka 2,972,983,049 2,768,794,762 24,053,006,806 25,317,930,308 15,390,638,769 17,380,277,246 13,500,000,000 11,000,000,000 55,916,628,624 56,467,002,316 8. Consolidated Earnings per share (CEPS) in the reporting period has been significantly decline due to the following reasons compared to corresponding period: a) Increased specific provision by tk. 147.82 crore against loans and advance (Investment) . b) Increased Tax provision by tk. 68.00 crore. 9. Net Operating Consolidated Cash Flows per Share (NOCFPS) in the reporting period has been significantly increased due to the following reasons compared to corresponding period: Increased Placement from other banks and financial institution in this Q3, 2019 is Tk. 679.35 crore against decreased Tk. (681.15) crore in previous corresponding period. On the other hand investment and advances to customers (other than Bank) in this Q3, 2019 is decreased by 373.33 crore in the previous corresponding period. 10. Reconciliation of net profit with cash flow from operating activities 7. Cash and Cash Equivalent at the end of the period Cash in hand Balance with Bangladesh Bank & Sonali Bank Ltd. Balance with Other Banks Bangladesh Government Islamic Investment Bond   Profit before provision & tax (A) Adjustment of Non-Cash Items (B): Depreciation Net loss/(gain) on salc of fixed assets Total Non-Cash Items (B) Adjustment of accrued income /expenses (C) : (increase)/decrease of profit income receivable on investment Increase/(decrease) of profit payable on deposits Incrcase/(decrease) of accrued expenses payable Total adjustment of accrued income/expenses (C) Income tax payment (D) Cash flows before changes in operating assets and liabilities (A+B+C+D) 30-09-2019 30-09-2018 5,313,709,009 3,671,673,758     375,569,237 269,749,456 (32,100) (27,594) 375,537,137 269,721,862     113,900,046 378,469,206 421,351,535 282,476,602 55,629,928 64,270 590,881,509 661,010,078 (1,594,929,058) (511,150,667) 4,685,198,597 4,091,255,031 General 1. The financial statements have been prepared in accordance with the formats prescribed under the Banking Companies Act, 1991 and in compliance with the rules of Islamic Law (Shariah) related to the banking business activities. 2. The figures appearing in these accounts have been rounded off to the nearest taka. 3. Wherever necessary previous years’ figures have been rearranged to conform to the current years’ presentation. Note: The published 3rd Quarter Financial Statements 2019 can be available in the Web-site of the bank. The address of the Web-site www.al-arafahbank.com