First Security Islami Bank: Half Yearly Financial Statement - June 2018

Transcription

1. Half Yearly Financial Statement June , 2018 Head Office
2. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED BALANCE SHEET (Un-audited) AS AT 30 JUNE 2018 30.06.2018 Taka 31.12.2017 Taka 22,058,801,166 2,049,908,258 20,008,892,908 25,177,139,774 1,691,479,252 23,485,660,522 3,071,336,737 2,455,227,157 616,109,580 641,309,944 82,762,601 558,547,343 Placement with Banks & Other Financial Institutions 13,603,700,000 13,603,700,000 Investments in Shares & Securities Government Others 15,987,320,593 14,800,000,000 1,187,320,593 16,099,534,554 15,000,000,000 1,099,534,554 Investments General Investment etc. Bills Purchased and Negotiated 293,118,259,621 292,378,880,713 739,378,908 273,352,470,705 272,697,811,880 654,658,825 Fixed Assets and Intangible Assets 3,434,191,474 13,296,218,604 25,145,280 364,594,973,475 3,473,092,894 12,114,221,889 25,145,280 344,486,615,040 17,445,492,651 9,481,539,506 Deposits and Other Accounts Al-Wadia Current Deposits and Other Deposit Accounts Bills Payable Mudaraba Savings Deposits Mudaraba Term Deposits Other Mudaraba Deposits 306,881,045,220 27,432,069,222 1,876,268,141 26,989,253,619 198,437,592,088 52,145,862,150 299,106,100,756 20,638,545,972 1,805,435,584 26,626,552,818 197,765,021,849 52,270,544,533 Mudaraba Subordinated Bond Other Liabilities Total Liabilities Capital/Shareholders' equity Paid-up Capital Statutory Reserve Other Reserve Asset Revaluation Reserve Retained Earnings Total Shareholders' Equity 5,000,000,000 22,788,669,706 352,115,207,577 5,382,000,000 18,406,049,243 332,375,689,505 7,128,175,820 3,099,858,930 516,507,063 352,137,580 1,033,062,226 12,129,741,619 7,128,175,820 2,950,454,362 516,507,063 352,137,580 823,468,503 11,770,743,328 Non-controlling Interest Total Liabilities and Shareholders' Equity 350,024,280 364,594,973,475 340,182,207 344,486,615,040 PROPERTY AND ASSETS Cash In hand (Including Foreign Currencies) Balance with Bangladesh Bank and its Agent Bank(s) (Including foreign currencies) Balance with other Banks and Financial Institutions In Bangladesh Outside Bangladesh Other Assets Non Banking Assets Total Assets LIABILITIES AND CAPITAL Liabilities Placement from Banks & Other Financial Institutions 1
3. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED BALANCE SHEET (Un-audited) AS AT 30 JUNE 2018 30.06.2018 Taka 31.12.2017 Taka OFF- BALANCE SHEET ITEMS Contingent Liabilities Acceptances and Endorsements 32,198,576,033 27,687,184,862 Letters of Guarantee 6,738,127,073 6,079,859,518 Irrevocable Letters of Credit 4,045,950,872 6,125,414,109 Bills for Collection 1,484,522,336 1,370,961,371 44,467,176,315 41,263,419,860 Other Contingent Liabilities Total Other Commitments Documentary credits and short term trade related transactions - - Forward assets purchased and forward deposits placed - - Undrawn note issuance and revolving underwriting facilities - - Undrawn formal standby facilities, credit lines and other commitments Total - - Total Off -Balance Sheet Items Including Contingent Liabilities 44,467,176,315 Dhaka, 25 July 2018 2 41,263,419,860
4. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED PROFIT AND LOSS ACCOUNT (Un-audited) FOR THE 2nd QUARTER ENDED 30 JUNE 2018 Investments Income Profit Paid on Deposits Net Investment Income Income from Investment in shares & Securities Commission, Exchange and Brokerage Other Operating Income Jan-June '18 Taka Jan-June '17 Taka Apr-June '18 Taka Apr-June '17 Taka 15,526,358,719 (12,154,689,446) 13,784,343,447 (9,728,180,427) 8,116,730,086 (6,559,180,287) 7,032,140,623 (4,929,798,648) 3,371,669,273 4,056,163,020 1,557,549,799 2,102,341,975 210,033,208 322,259,253 324,963,046 49,569,223 314,281,304 371,178,809 141,736,329 159,505,903 215,415,791 15,968,611 178,417,472 249,327,552 857,255,507 735,029,336 516,658,023 443,713,635 Total Operating Income Less: Operating Expenses Salary and Allowances Rent, Taxes, Insurances, Electricity etc. Legal Expenses Postage, Stamps, Telecommunication etc. Stationery, Printings, Advertisements etc. Managing Director's Salary and Fees Auditors' Fees Directors' Fees Shariah Committee's Fees Depreciation and Repair of Bank's Assets Zakat Expenses Other Expenses 4,228,924,780 4,791,192,356 2,074,207,822 2,546,055,610 1,647,757,647 292,260,134 6,668,923 45,258,773 82,276,518 6,578,742 460,000 691,600 46,000 221,773,805 40,839,182 548,459,259 1,407,027,201 273,504,272 5,623,867 13,819,315 60,773,705 5,951,125 385,076 832,200 211,270,031 35,794,078 505,862,799 764,822,767 155,519,456 4,340,908 23,152,786 41,745,492 3,156,000 244,375 493,000 46,000 113,503,425 19,194,092 332,983,350 641,726,433 148,038,769 5,257,787 6,990,321 31,401,383 2,738,625 202,513 544,900 109,596,394 17,897,039 314,238,528 Total Operating Expenses 2,893,070,583 2,520,843,669 1,459,201,650 1,278,632,693 Profit before Provision and tax 1,335,854,197 486,400,000 65,313,734 551,713,734 784,140,463 2,270,348,687 947,500,000 2,849,570 950,349,570 1,319,999,117 615,006,172 365,800,000 7,775,238 373,575,238 241,430,934 1,267,422,917 617,500,000 (245,975) 617,254,025 650,168,892 415,300,099 727,796,271 190,929,686 406,991,766 415,300,099 727,796,271 190,929,686 406,991,766 368,840,364 823,468,503 1,192,308,867 592,202,846 793,919,776 1,386,122,622 50,501,248 1,032,049,567 1,082,550,815 243,177,126 1,005,538,314 1,248,715,440 149,404,568 9,842,073 159,246,640 1,033,062,226 0.50 253,446,195 16,298,972 269,745,167 1,116,377,455 0.81 44,807,824 4,680,765 49,488,588 1,033,062,226 0.06 124,550,095 7,787,890 132,337,985 1,116,377,455 0.33 Provisions for Investments including off-B/S items Provisions for diminution in value of investment in shares Total Provisions Total Profit before Taxes Provision for Taxation Net Profit after tax for the period Retained Earnings Brought Forward Appropriations: Statutory Reserve Non-Controlling Interest Cash Dividend Retained Earnings Carried Forward Earnings Per Share (EPS) -Restated Dhaka, 25 July 2018 3
5. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED CASH FLOW STATEMENT (Un-audited) FOR THE 2nd QUARTER ENDED 30 JUNE 2018 Jan-June, 2018 Taka A. Cash Flow from Operating Activities Investment Income Receipt in Cash Profit paid on Deposits Dividend Receipts Fees & Commission Receipt in Cash Cash Payment to Employees Cash Payment to Suppliers Income Tax Paid Receipts from Other Operating Activities Payment for other Operating Activities Jan-June, 2017 Taka 15,849,156,147 (9,079,862,377) 6,171,314 322,259,253 (1,654,336,389) (113,095,756) (675,598,493) 348,207,005 (908,431,376) 4,094,469,328 14,166,770,071 (7,638,791,017) 5,563,494 314,281,304 (1,412,978,326) (103,400,371) (713,415,305) 371,178,809 (787,723,853) 4,201,484,806 (16,804,047,315) (566,222,260) 4,700,117,395 7,963,953,145 352,255,457 (4,353,943,578) (22,609,877,878) (238,626,084) 1,072,500,000 1,248,443,451 9,641,627,180 366,741,395 (10,519,191,936) (259,474,250) (6,317,707,130) B. Cash Flow from Investing Activities Payment for purchase of Shares and Securities Purchase of Property, Plant and Equipment Sale of Property, Plant and Equipment Purchase/Sale of Subsidiaries Net Cash Inflow/(Outflow) from Investing Activities 112,213,961 (160,277,376) 1,225,850 (46,837,565) (111,426,551) (188,279,749) (299,706,300) C. Cash Flow from Financing Activities Receipt/(Payment) of Mudaraba Subordinated Bond Dividend Paid in Cash Net Cash Inflow/(Outflow) from Financing Activities (382,000,000) (382,000,000) (382,000,000) (382,000,000) (688,311,815) 25,818,449,718 25,130,137,903 (6,999,413,430) 32,817,467,680 25,818,054,250 2,049,908,258 23,080,229,645 25,130,137,903 1,847,675,404 23,970,378,846 25,818,054,250 Operating Profit before changes in Operating Assets & Liabilities Change in Operating Assets and Liabilities (Increase)/decrease in Investments to Customers (Increase)/decrease of Other Assets (Increase)/decrease of Placement with Banks & other Financial Institutions Increase/(decrease) of Deposits Received from Customers Increase/(decrease) of Placement from Banks & other Financial Institutions Increase/(decrease) of Other Liabilities Net Cash Inflow/(Outflow) from Operating Activities D. Net Increase/Decrease of Cash & Cash Equivalent (A+B+C) Add: Effect of Exchange Rate on Cash & Cash Equivalent E. Opening Cash & Cash Equivalent F. Closing Cash & Cash Equivalent (D+E) Cash in Hand (Including Foreign Currencies) Balance with Bangladesh Bank and other banks Dhaka, 25 July 2018 4
6. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Un-audited) FOR THE 2nd QUARTER ENDED 30 JUNE 2018 Particulars Paid-up Capital Statutory Reserve Other Reserve Taka Taka Taka Assets Reval. Reserve Taka Retained Earnings Taka Non-Controlling Interest Taka Total Taka Balance as on 01 January 2018 Changes in Accounting Policy 7,128,175,820 - 2,950,454,362 - 516,507,063 - 352,137,580 - 823,468,503 - 340,182,207 12,110,925,535 - Restated Balance Net Profit for the period 7,128,175,820 - 2,950,454,362 - 516,507,063 - 352,137,580 - 823,468,503 368,840,364 340,182,207 - 12,110,925,535 368,840,364 Cash Dividends - Transfer to Statutory Reserve - Transfer to Other Reserve - - Revaluation reserve to Other Reserve - Non-controlling Interest in Subsidiary Profit - Balance as on 30 June 2018 Balance as on 01 January 2017 - - - - - - - - - - - - - 149,404,568 - - - - - - - - - (9,842,073) 9,842,073 - 3,099,858,930 516,507,063 352,137,580 1,033,062,226 350,024,280 12,479,765,899 6,788,738,880 2,412,128,110 402,850,965 362,198,654 793,919,776 300,600,194 11,060,436,579 - - Cash Dividends - - Transfer to Statutory Reserve 253,446,195 Transfer to Other Reserve - - Revaluation reserve to Other Reserve - - Balance as on 30 June 2017 (149,404,568) - 7,128,175,820 Net Profit for the period Non-controlling Interest in Subsidiary Profit - 6,788,738,880 - - - - - - - - - - - 402,850,965 2,665,574,305 Dhaka, 25 July 2018 5 362,198,654 592,202,846 - - 592,202,846 - - - - - - - - - - (253,446,195) (16,298,972) 1,116,377,455 16,298,972 316,899,166 11,652,639,425
7. FIRST SECURITY ISLAMI BANK LIMITED BALANCE SHEET (Un-audited) AS AT 30 JUNE 2018 30.06.2018 Taka 31.12.2017 Taka 22,058,753,712 2,049,860,804 20,008,892,908 25,177,115,132 1,691,454,610 23,485,660,522 Balance with other Banks and Financial Institutions In Bangladesh Outside Bangladesh 3,070,760,106 2,454,650,526 616,109,580 636,314,862 77,767,519 558,547,343 Placement with Banks & other Financial Institutions 13,603,700,000 13,603,700,000 Investments in Shares & Securities Government Others 15,709,657,919 14,800,000,000 909,657,919 15,908,894,701 15,000,000,000 908,894,701 293,365,059,382 292,625,680,474 739,378,908 273,593,618,710 272,938,959,885 654,658,825 3,427,038,503 3,464,011,431 12,495,368,687 25,145,280 363,755,483,589 11,330,679,178 25,145,280 343,739,479,294 LIABILITIES AND CAPITAL Liabilities Placement from Banks & other Financial Institutions 17,378,492,651 9,481,539,506 Deposits and Other Accounts Al-Wadia Current Deposits and Other Deposit Accounts Bills Payable Mudaraba Savings Deposits Mudaraba Term Deposits Other Mudaraba Deposits 306,896,166,013 27,447,190,015 1,876,268,141 26,989,253,619 198,437,592,088 52,145,862,150 299,120,844,464 20,653,289,680 1,805,435,584 26,626,552,818 197,765,021,849 52,270,544,533 Mudaraba Subordinated Bond Other Liabilities Total Liabilities Capital/Shareholders' equity Paid-up Capital Statutory Reserve Other Reserve Assets Revaluation Reserve Retained Earnings Total Shareholders' Equity 5,000,000,000 22,460,394,292 351,735,052,956 5,382,000,000 18,083,419,190 332,067,803,161 7,128,175,820 3,099,858,930 516,507,063 352,137,580 923,751,241 12,020,430,634 7,128,175,820 2,950,454,362 516,507,063 352,137,580 724,401,308 11,671,676,133 Total Liabilities and Shareholders' Equity 363,755,483,589 343,739,479,294 PROPERTY AND ASSETS Cash In hand (Including foreign currencies) Balance with Bangladesh Bank and its agent bank(s) (Including foreign currencies) Investments General Investment etc. Bills Purchased and Negotiated Fixed Assets and Intangible Assets Other Assets Non Banking Assets Total Assets 6
8. FIRST SECURITY ISLAMI BANK LIMITED BALANCE SHEET (Un-audited) AS AT 30 JUNE 2018 30.06.2018 Taka 31.12.2017 Taka OFF- BALANCE SHEET ITEMS Contingent Liabilities Acceptances and Endorsements 32,198,576,033 27,687,184,862 Letters of Guarantee 6,738,127,073 6,079,859,518 Irrevocable Letters of Credit 4,045,950,872 6,125,414,109 Bills for Collection 1,484,522,336 1,370,961,371 44,467,176,315 41,263,419,860 Other Contingent Liabilities Total Other Commitments Documentary credits and short term trade related transactions - - Forward assets purchased and forward deposits placed - - Undrawn note issuance and revolving underwriting facilities - - Undrawn formal standby facilities, credit lines and other commitments - - Total - - 44,467,176,315 41,263,419,860 Total Off -Balance Sheet Items Including Contingent Liabilities Dhaka, 25 July 2018 7
9. FIRST SECURITY ISLAMI BANK LIMITED PROFIT AND LOSS ACCOUNT (Un-audited) FOR THE 2nd QUARTER ENDED 30 JUNE 2018 Investments Income Profit Paid on Deposits Net Investment Income Income from Investment in shares & Securities Commission, Exchange and Brokerage Other Operating Income Jan-June '18 Taka Jan-June '17 Taka Apr-June '18 Taka Apr-June '17 Taka 15,476,242,317 (12,154,689,446) 13,746,090,958 (9,728,180,427) 8,091,636,405 (6,559,180,287) 7,012,008,482 (4,929,798,648) 3,321,552,871 4,017,910,531 1,532,456,118 2,082,209,834 200,938,044 308,110,457 322,417,996 42,273,106 287,326,652 358,465,327 136,766,570 152,608,189 213,496,491 14,661,498 165,086,086 237,342,570 831,466,497 688,065,085 502,871,250 417,090,154 Total Operating Income Less: Operating Expenses Salary and Allowances Rent, Taxes, Insurances, Electricity etc. Legal Expenses Postage, Stamps, Telecommunication etc. Stationery, Printings, Advertisements etc. Managing Director's Salary and Fees Auditors' Fees Directors' Fees Shariah Committee's Fees Depreciation and Repair of Bank's Assets Zakat Expenses Other Expenses 4,153,019,368 4,705,975,616 2,035,327,368 2,499,299,988 1,638,252,035 289,137,998 6,668,923 44,850,579 82,077,771 6,578,742 460,000 441,600 46,000 219,795,148 40,839,182 539,134,818 1,396,743,568 270,726,674 5,623,867 13,625,225 60,620,463 5,951,125 365,126 607,200 205,390,533 35,794,078 497,117,329 760,660,649 153,966,893 4,340,908 22,854,395 41,640,242 3,156,000 244,375 368,000 46,000 112,258,785 19,194,092 325,982,675 637,120,343 146,660,329 5,257,787 6,926,451 31,316,271 2,738,625 182,563 432,400 106,682,682 17,897,039 308,251,114 Total Operating Expenses 2,868,282,796 2,492,565,188 1,444,713,015 1,263,465,604 Profit before Provision and tax 1,284,736,572 484,400,000 53,313,734 2,213,410,428 947,500,000 (1,320,547) 590,614,353 370,800,000 (4,224,762) Provisions for Investments including off-B/S items Provisions for diminution in value of investment in shares 1,235,834,384 617,500,000 (4,416,092) Total Provisions 537,713,734 946,179,453 366,575,238 613,083,908 Total Profit before Taxes 747,022,838 1,267,230,975 224,039,115 622,750,476 Provision for Taxation 398,268,337 708,291,337 183,090,449 395,467,003 398,268,337 348,754,501 724,401,308 1,073,155,809 708,291,337 558,939,638 736,050,186 1,294,989,824 183,090,449 40,948,666 927,610,399 968,559,065 395,467,003 227,283,473 938,810,251 1,166,093,724 149,404,568 149,404,568 253,446,195 253,446,195 44,807,824 44,807,824 124,550,095 124,550,095 Retained Earnings Carried Forward 923,751,241 1,041,543,629 923,751,241 1,041,543,629 Earnings Per Share (EPS)-Restated 0.49 0.78 0.06 0.32 Net Profit after tax for the period Retained Earnings Brought Forward Appropriations: Statutory Reserve Other Reserve Cash Dividend Dhaka, 25 July 2018 8
10. FIRST SECURITY ISLAMI BANK LIMITED CASH FLOW STATEMENT (Un-audited) FOR THE 2nd QUARTER ENDED 30 JUNE 2018 Jan-June, 2018 Taka A. Cash Flow from Operating Activities Investment Income Receipt in Cash Profit paid on Deposits Dividend Receipts Fees & Commission Receipt in Cash Cash Payment to Employees Cash Payment to Suppliers Income Tax Paid Receipts from Other Operating Activities Payment for other Operating Activities Jan-June, 2017 Taka 15,786,439,389 (9,079,862,377) 6,171,314 308,110,457 (1,644,830,777) (112,846,844) (660,144,474) 322,417,996 (880,279,918) 4,045,174,766 14,114,637,866 (7,638,791,017) 5,563,494 287,326,652 (1,402,694,693) (91,222,930) (713,415,305) 358,465,327 (787,700,295) 4,132,169,099 (16,809,699,071) (548,915,055) 4,700,494,480 7,896,953,145 373,890,303 (4,387,276,198) (22,791,672,142) (27,935,089) 1,072,500,000 1,401,610,000 9,641,627,180 156,583,735 (10,547,286,316) (342,101,432) (6,415,117,217) B. Cash Flow from Investing Activities Payment for purchase of Shares and Securities Purchase of Property, Plant and Equipment Sale of Property, Plant and Equipment Purchase/Sale of Subsidiaries Net Cash Inflow/(Outflow) from Investing Activities 199,236,782 (160,277,376) 1,225,850 40,185,256 (14,100,699) (188,243,719) (202,344,418) C. Cash Flow from Financing Activities Receipt/(Payment) of Mudaraba Subordinated Bond Dividend Paid in Cash Net Cash Inflow/(Outflow) from Financing Activities (382,000,000) (382,000,000) (382,000,000) (382,000,000) (683,916,176) 25,813,429,994 25,129,513,818 (6,999,461,635) 32,815,142,183 25,815,680,548 Operating Profit before changes in Operating Assets & Liabilities Change in Operating Assets and Liabilities (Increase)/decrease in Investments to Customers (Increase)/decrease of Other Assets (Increase)/decrease of Placement with Banks & other Financial Institutions Increase/(decrease) of Deposits Received from Customers Increase/(decrease) of Placement from Banks & other Financial Institutions Increase/(decrease) of Other Liabilities Net Cash Inflow/(Outflow) from Operating Activities D. Net Increase/Decrease of Cash & Cash Equivalent (A+B+C) Add: Effect of Exchange Rate on Cash & Cash Equivalent E. Opening Cash & Cash Equivalent F. Closing Cash & Cash Equivalent (D+E) Cash in Hand (Including Foreign Currencies) Balance with Bangladesh Bank and other banks Dhaka, 25 July 2018 9 2,049,860,804 1,847,656,965 23,079,653,014 23,968,023,583 25,129,513,818 25,815,680,548
11. FIRST SECURITY ISLAMI BANK LIMITED STATEMENT OF CHANGES IN EQUITY (Un-audited) FOR THE 2nd QUARTER ENDED 30 JUNE 2018 Particulars Balance as on 01 January 2018 Changes in Accounting Policy Restated Balance Net Profit for the period Cash Dividends Transfer to Statutory Reserve Transfer to Other Reserve Revaluation reserve to Other Reserve Balance as on 30 June 2018 Balance as on 01 January 2017 Net Profit for the period Cash Dividends Transfer to Statutory Reserve Transfer to Other Reserve Revaluation reserve to Other Reserve Balance as on 30 June 2017 Paid-up Capital Statutory Reserve Other Reserve Taka Taka Taka Assets Reval. Reserve Taka Retained Earnings Taka Total Taka 7,128,175,820 7,128,175,820 7,128,175,820 2,950,454,362 2,950,454,362 149,404,568 3,099,858,930 516,507,063 516,507,063 516,507,063 352,137,580 352,137,580 352,137,580 724,401,308 724,401,308 348,754,501 (149,404,568) 923,751,241 11,671,676,133 11,671,676,133 348,754,501 12,020,430,634 6,788,738,880 6,788,738,880 2,412,128,110 253,446,195 2,665,574,305 402,850,965 402,850,965 362,198,654 362,198,654 736,050,186 558,939,638 (253,446,195) 1,041,543,629 10,701,966,795 558,939,638 11,260,906,433 Dhaka, 25 July 2018 10
12. First Security Islami Bank Ltd . Selective Notes to the Financial Statements As at and for the period ended 30 June 2018 01. Basis of Accounting The financial statements as at and for the period ended 30 June 2018 have been prepared in accordance with Bangladesh Accounting Standard (BAS)-34 “Interim Financial Reporting”, Bangladesh Financial Reporting Standard, Income Tax Ordinance 1984, Bangladesh Bank Circulars, the Securities and Exchange Rules 1987 and other laws and rules applicable in Bangladesh. 02. Accounting Policies In case of preparing these financial statements, the Accounting Policies which have been followed are same as applied in the financial statements of the Bank for preceding period. 03. Basis of Consolidation The consolidated financial statements have been prepared in accordance with Bangladesh Financial Reporting Standards 10-“Consolidated Financial Statements”. The Consolidated Financial Statements are prepared as at and for the period ended 30 June 2018. All intra-group transactions, balances, income and expenses are eliminated at the time of consolidation. 04. Cash and Cash Equivalent As per BRPD circular no. 15 dated November 09, 2009 and BAS-7, cash and cash equivalents include notes and coins in hand, balances lying with ATM, unrestricted balance held with Bangladesh Bank and its agent Bank and balance with other Banks and Financial Institutions. Cash flow statement is prepared principally in accordance with IAS 7 “Cash Flow Statement” and prescribed by BRPD circular no. 15 dated November 2009 and previous year figures have been rearranged wherever considered necessary. 05. Depreciation on Property, Plant and Equipment As required in paragraph 43 of IAS 16-Property, Plant and Equipment depreciation has been charged at the reducing balance method, except on motor vehicles and building on which straight-line method is applied. Depreciation on addition to fixed assets is charged when the asset is available for use and the charge of depreciation is ceased after the asset is sold out/disposed off/fully depreciated. 06. Provisions a) General Investments and Investments in Shares & Securities Provision for general investment and investment in shares & securities has been made as per directives of Bangladesh Bank issued from time to time. b) Taxation Provision for income tax has been made on taxable income after necessary add back in accordance with the provisions of Finance Act 2018, Income Tax Ordinance 1984 and other relevant legislation as applicable. 07. Retirement Benefits of Employees Required in BAS-19 Employee Benefit, provident fund and gratuity benefits are given to eligible staff of the bank in accordance with the locally registered rules and the entity shall disclose the amount recognized as an expense for defined contribution plan. 11
13. 08 . Mudaraba Subordinated Bond The Bank issued Redeemable non-convertible FSIBL 1st Mudaraba Subordinated Bond to the tune of Taka 2,500,000,000.00 as Supplementary Capital (Tier-2) of the Bank for a term of 6 years to strengthen the capital base of the Bank under Basel-II. The bond had been fully subscribed by the 02.01.2013. However, the amount of Tk. 2,000,000,000.00 had already been paid up to 30 June 2018 as principal redemption. The Board of Directors of the Bank in its 181st meeting held on February 12, 2017 has decided to issue fully Redeemable non-convertible FSIBL 2nd Mudaraba Subordinated Bond (Private Placement) amounting to BDT 4,500,000,000.00 (Four hundred fifty crore) only through private placements with 7 years maturity for enhancement of Tier-II capital as per requirement of Basel –III. The Bangladesh Securities and Exchange Commission has given consent vided their letter No. BSEC/CI/DS-08/2017/435 dated August 27, 2017 and Bangladesh Bank approval letter no. BRPD(BFIS)661/14B(P)/2017-6560 dated 05.10.2017. The FSIBL 2nd Mudaraba Subordinated Bond has fully been subscribed by BDT 4,500,000,000.00 as on 31 December 2017. 09. Others Figures relating to previous year/period included in this period have been rearranged wherever considered necessary. 12
14. 30 .06.2018 BDT Capital Authorized Capital 1,000,000,000 Ordinary shares of Taka 10 each. 10.1 Issued, Subscribed and Paid-Up Capital 712817582 Ordinary Shares of Taka 10 each issued 30.12.2017 BDT 10 10.2 First (Subscription to the Memorandum & Articles of Association) at the time of Incorporation Paid up capital increase Paid up capital increase Paid up capital increase Paid up capital increase Paid up capital increase 10% Bonus Share 20% Right Share 12% Bonus Share 10% Bonus Share 10% Bonus Share 10% Bonus Share 50% Right Share 5% Bonus Share Total 12 13 10,000,000,000 7,128,175,820 7,128,175,820 7,128,175,820 7,128,175,820 History of paid-up capital Given below the history of raising share capital of First Security Islami Bank Limited: Particulars 11 10,000,000,000 Amount of Share Capital Total Paid up Capital (Cumulative) 1999 200,000,000 200,000,000 2003 2005 2006 2007 2008 2010 2010 2011 2012 2013 2015 2015 2017 120,000,000 280,000,000 300,000,000 100,000,000 1,300,000,000 230,000,000 506,000,000 364,320,000 340,032,000 374,035,200 617,158,080 2,057,193,600 339,436,940 7,128,175,820 320,000,000 600,000,000 900,000,000 1,000,000,000 2,300,000,000 2,530,000,000 3,036,000,000 3,400,320,000 3,740,352,000 4,114,387,200 4,731,545,280 6,788,738,880 7,128,175,820 Allotme nt Year Statutory Reserve Opening Balance 2,950,454,362 2,412,128,110 Add: Addition during the year 149,404,568 538,326,252 Closing Balance 3,099,858,930 2,950,454,362 This has been done at least @ 20% or more of the net profit before tax according to Sec. 24 of Bank Companies Act, 1991 Amendment 2013 and shall be maintained until & unless it equals to Paid-up Capital. Other Reserve Opening Balance 516,507,063 402,850,965 Add: Addition during the year 103,595,024 Add: Transferred from Asset Revaluation Reserve 10,061,074 Closing Balance 516,507,063 516,507,063 Assets Revaluation Reserve Opening Balance Less: Transfer to Other Reserve Closing Balance 352,137,580 352,137,580 13 362,198,654 10,061,074 352,137,580
15. 30 .06.2018 BDT 14 Retained Earnings Opening Balance Add: Post tax profit for the period Less: Transfer to Statutory Reserve Less: Transfer to Other Reserve Less: Capitalized during the period Less: Cash Dividend paid during the period Closing Balance 14(a) Consolidated Retained Earnings First Security Islami Bank Limited (Note-14) First Security Islami Capital & Investment Limited 30.12.2017 BDT 724,401,308 348,754,501 149,404,568 923,751,241 736,050,186 1,309,146,282 538,326,252 103,595,024 339,436,940 339,436,944 724,401,308 923,751,241 109,310,985 1,033,062,226 724,401,308 99,067,195 823,468,503 Jan.-June '18 BDT 15 Net Asset Value Per Share (NAV) Net Asset Value Weighted average number of shares outstanding 12,020,430,634 712,817,582 16.86 11,260,906,433 712,817,582 15.80 12,129,741,619 712,817,582 17.02 11,335,740,259 712,817,582 15.90 Net Profit after tax for the period 348,754,501 558,939,638 Weighted average number of shares outstanding 712,817,582 712,817,582 0.49 0.78 368,840,364 9,842,073 358,998,291 592,202,846 16,298,972 575,903,874 712,817,582 0.50 712,817,582 0.81 (342,101,432) (6,415,117,217) 712,817,582 712,817,582 15 (a) Consolidated Net Asset Value Per Share (NAV) Net Asset Value Weighted average number of shares outstanding 16 Earnings Per Share (EPS) 16 (a) Consolidated Earnings Per Share (EPS) Net Profit after tax for the period Less: Profit attributable to Minority Profit attributable to ordinary shareholders of parent Weighted average number of shares outstanding 17 Jan.-June '17 BDT Net Operating Cash Flows Per Share (NOCFPS) Net Cash Inflow/(Outflow) from Operating Activities Weighted average number of shares outstanding 17 (a) Consolidated Net Operating Cash Flows Per Share (NOCFPS) Net Cash Inflow/(Outflow) from Operating Activities Weighted average number of shares outstanding (0.48) (9.00) (259,474,250) 712,817,582 (0.36) (6,317,707,130) 712,817,582 (8.86) * Note no. 15 to 17(a) weighted average number of shares outstanding of January to June 2017 has been restated. 14