First Security Islami Bank: Quarterly Financial Statement - 30 March 2017

Transcription

1. Quarterly Financial Statement March , 2017 Head Office
2. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED BALANCE SHEET (Un-audited) AS AT 31 MARCH 2017 31.03.2017 BDT 31.12.2016 BDT 20,629,371,237 1,319,301,369 19,310,069,868 32,300,518,914 1,709,030,260 30,591,488,654 907,115,909 60,675,943 846,439,966 516,948,766 84,689,825 432,258,941 Placement with Banks & other Financial Institutions 13,359,000,000 14,509,000,000 Investments in Shares & Securities Government Others 14,938,204,066 13,900,000,000 1,038,204,066 14,855,836,534 13,900,000,000 955,836,534 241,701,703,426 241,151,479,938 550,223,488 225,889,892,521 225,345,248,091 544,644,430 3,457,454,240 3,450,117,792 10,602,575,632 25,145,280 10,121,788,567 25,145,280 305,620,569,789 301,669,248,374 5,089,093,463 711,115,048 Deposits and Other Accounts Al-Wadia Current Deposits and Other Deposit Accounts Bills Payable Mudaraba Savings Deposits Mudaraba Term Deposits Other Mudaraba Deposits 271,410,916,343 16,191,217,212 1,264,877,403 22,528,184,234 182,169,355,418 49,257,282,076 274,224,785,993 15,946,290,541 1,477,937,977 18,421,853,013 188,431,972,412 49,946,732,050 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 1,000,000,000 16,711,097,685 294,211,107,491 1,382,000,000 14,290,910,754 290,608,811,795 6,788,738,880 2,541,024,210 402,850,965 362,198,654 1,005,538,314 11,100,351,023 6,788,738,880 2,412,128,110 402,850,965 362,198,654 793,919,776 10,759,836,385 Non-controlling Interest Total Liabilities and Shareholders' Equity 309,111,275 305,620,569,789 300,600,194 301,669,248,374 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 Investments General Investment etc. Bills Purchased and Negotiated Fixed Assets Including Premises, Furniture & Intangible Assets Other Assets Non Banking Assets Total Assets LIABILITIES AND CAPITAL Liabilities Placement from Banks & other Financial Institutions
3. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED BALANCE SHEET (Un-audited) AS AT 31 MARCH 2017 31.03.2017 BDT 31.12.2016 BDT OFF- BALANCE SHEET ITEMS Contingent Liabilities Acceptances and Endorsements Letters of Guarantee Irrecoverable Letters of Credit Bills for Collection Other Contingent Liabilities Total 21,549,465,087 5,609,926,945 5,746,973,006 1,200,592,499 34,106,957,537 21,750,937,662 6,317,021,800 4,335,806,257 1,165,010,799 33,568,776,518 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 Claims against the bank not acknowledged as debt Total - Total Off -Balance Sheet Items Including Contingent Liabilities Head of FAD (C.C) Dhaka, 08 May 2017 - Company Secretary 34,106,957,537 Managing Director Director - 33,568,776,518 Chairman
4. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED PROFIT AND LOSS ACCOUNT (Un-audited) FOR THE PERIOD 01 JANUARY 2017 TO 31 MARCH 2017 March, 2017 Taka March, 2016 Taka Investments Income Profit Paid on Deposits 6,752,202,824 (4,798,381,779) 6,393,843,918 (4,777,363,062) Net Investment Income 1,953,821,045 1,616,480,856 33,600,612 135,863,832 121,851,257 4,750,457 89,192,130 57,288,180 291,315,701 151,230,767 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 2,245,136,746 1,767,711,623 765,300,768 125,465,503 366,080 6,828,994 29,372,322 3,212,500 182,563 287,300 101,673,637 17,897,039 191,624,271 565,608,189 87,342,912 3,762,315 5,702,639 32,611,775 3,125,403 182,563 770,800 46,000 92,767,661 12,562,152 233,329,258 Total Operating Expenses 1,242,210,977 1,037,811,667 Profit before Provision and tax Provisions for Investments including off-B/S items Provision for diminution in value of Investment in share Total Provisions 1,002,925,769 330,000,000 3,095,545 333,095,545 729,899,957 189,000,000 37,532,099 226,532,099 669,830,224 503,367,858 320,804,505 320,804,505 349,025,719 793,919,776 1,142,945,495 233,479,638 233,479,638 269,888,219 555,733,247 825,621,466 128,896,100 8,511,081 137,407,181 1,005,538,314 100,440,882 430,951 100,871,833 724,749,633 0.51 0.40 Income from Investment in shares and securities Commission, Exchange and Brokerage Other Operating Income Total Profit before Taxes Provision for Taxation Deferred Tax Income Net Profit after tax for the period Retained Surplus Brought Forward from Previous Year Appropriations Statutory Reserve Non-controlling Interest Retained Earnings Carried Forward Earnings Per Share (EPS) Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director Director Chairman
5. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED CASH FLOW STATEMENT (Un-audited) FOR THE PERIOD 01 JANUARY 2017 TO 31 MARCH 2017 March, 2017 Taka A. Cash Flow from Operating Activities Investment Income Receipt Profit paid on Deposits Dividend Receipts March, 2016 Taka 6,092,314,693 5,960,097,343 (3,165,425,262) (3,897,200,051) 5,070,194 3,829,907 Fees & Commission Receipt 135,863,832 89,192,130 Payment to Employees (768,513,268) (568,733,592) (49,740,485) (46,979,893) Income Tax Paid (303,875,005) (215,072,880) Receipts from Other Operating Activities 121,122,757 57,287,680 (320,284,715) 1,746,532,741 (326,444,138) 1,055,976,507 (17,688,382,528) (878,876,305) (1,201,372,132) 1,773,469,582 (17,995,161,383) (16,248,628,642) (13,756,795,634) 105,314,192 2,580,155,326 (6,522,178) (11,077,848,294) (10,021,871,787) (82,367,532) (95,962,775) - (353,124,631) (248,764,112) - (178,330,307) (601,888,743) 4,377,978,415 (382,000,000) 3,995,978,415 191,533,802 (382,000,000) (190,466,198) (12,430,980,534) (10,814,226,728) 47,326,467,680 34,895,487,146 42,472,440,933 31,658,214,205 1,319,301,369 1,174,370,194 Payment to Suppliers Payment for other Operating Activities Operating Profit before changes in Operating Assets & Liabilities Increase / Decrease in Operating Assets & Liabilities Investments to Customers Other Assets Deposits Received from Customers Other Liabilities Net Cash Inflow from Operating Activities B. Cash Flow from Investing Activities Investment in Shares and Securities Purchase of Property, Plant and Equipment Sale of Property, Plant and Equipment Net Cash Inflow from Investing Activities C. Cash Flow from Financing Activities Increase/ (Decrease) in Share Capital Increase/(Decrease) in Placement from Banks & Fls Receipt/(Payment) of Mudaraba Subordinated Bond Net Cash Inflow/(Outflow) from Financing Activities D. Net Increase/Decrease of Cash & Cash Equivalent (A+B+C) 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, Other banks, FIS & Placement Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director 33,576,185,777 30,483,844,011 34,895,487,146 31,658,214,205 Director Chairman
6. FIRST SECURITY ISLAMI BANK LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Un-audited) FOR THE PERIOD 01 JANUARY 2017 TO 31 MARCH 2017 Paid-up Capital Particulars BDT Statutory Reserve BDT Other Reserve BDT Assets Reval. Reserve BDT Retained Earnings BDT Non-Controlling Interest BDT Total BDT Balance as on 01 January 2017 6,788,738,880 2,412,128,110 402,850,965 362,198,654 793,919,776 300,600,194 11,060,436,578 Changes in Accounting Policy Restated Balance Surplus/(Deficit) on account of Revaluation of Properties Surplus/(Deficit) on account of Revaluation of Investments Net Gains and Losses not Recognized in the Income Statement 6,788,738,880 2,412,128,110 402,850,965 362,198,654 793,919,776 300,600,194 11,060,436,578 - - - - - - - - - - - - - - - - - - - - - Net Profit for the period - - - - Cash Dividends - - - - Transfer to Statutory Reserve - - - Transfer to Other Reserve - - - - - - Revaluation reserve to Other Reserve - - - - - - Transfer to Non-controlling Interest - - - - 128,896,100 349,025,719 (128,896,100) (8,511,081) - 349,025,719 - - - - - 8,511,081 - Balance as on 31 March 2017 6,788,738,880 2,541,024,210 402,850,965 362,198,654 1,005,538,314 309,111,275 11,409,462,298 Balance as on 31 March 2016 6,171,580,800 2,002,687,676 75,556,891 372,259,728 724,749,633 298,410,797 10,262,403,605 Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director Director Chairman
7. FIRST SECURITY ISLAMI BANK LIMITED BALANCE SHEET (Un-audited) AS AT 31 MARCH 2017 31.03.2017 BDT PROPERTY AND ASSETS Cash In hand (Including Foreign Currencies) Balance with Bangladesh Bank and its Agent Bank(s) (Including Foreign Currencies) 31.12.2016 BDT 20,629,357,171 1,319,287,303 19,310,069,868 32,300,509,774 1,709,021,120 30,591,488,654 904,799,552 58,359,586 846,439,966 514,632,409 82,373,468 432,258,941 Placement with Banks & Other Financial Institutions 13,359,000,000 14,509,000,000 Investments in Shares & Securities Government Others 14,801,287,117 13,900,000,000 901,287,117 14,786,490,432 13,900,000,000 886,490,432 241,956,082,407 241,405,858,919 550,223,488 226,065,271,502 225,520,627,072 544,644,430 3,440,961,493 3,430,730,939 9,980,151,807 25,145,280 305,096,784,827 9,596,694,604 25,145,280 301,228,474,940 5,089,093,463 711,115,048 Deposits and Other Accounts Al-Wadia Current Deposits and Other Deposit Accounts Bills Payable Mudaraba Savings Deposits Mudaraba Term Deposits Other Mudaraba Deposits 271,467,012,627 16,247,313,496 1,264,877,403 22,528,184,234 182,169,355,418 49,257,282,076 274,252,894,129 15,974,398,677 1,477,937,977 18,421,853,013 188,431,972,412 49,946,732,050 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 1,000,000,000 16,507,055,778 294,063,161,868 1,382,000,000 14,180,498,968 290,526,508,145 6,788,738,880 2,541,024,210 402,850,965 362,198,654 938,810,250 11,033,622,959 6,788,738,880 2,412,128,110 402,850,965 362,198,654 736,050,186 10,701,966,795 Total Liabilities and Shareholders' Equity 305,096,784,827 301,228,474,940 Balance with other Banks and Financial Institutions In Bangladesh Outside Bangladesh Investments General Investment etc. Bills Purchased and Negotiated Fixed Assets Including Premises, Furniture & Intangible Assets Other Assets Non Banking Assets Total Assets LIABILITIES AND CAPITAL Liabilities Placement from Banks & Other Financial Institutions
8. FIRST SECURITY ISLAMI BANK LIMITED BALANCE SHEET (Un-audited) AS AT 31 MARCH 2017 31.03.2017 BDT 31.12.2016 BDT OFF- BALANCE SHEET ITEMS Contingent Liabilities Acceptances and Endorsements Letters of Guarantee Irrecoverable Letters of Credit Bills for Collection Other Contingent Liabilities Total 21,549,465,087 5,609,926,945 5,746,973,006 1,200,592,499 34,106,957,537 21,750,937,662 6,317,021,800 4,335,806,257 1,165,010,799 33,568,776,518 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 Claims against the bank not acknowledged as debt - Total - Total Off -Balance Sheet Items Including Contingent Liabilities Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director 34,106,957,537 Director - 33,568,776,518 Chairman
9. FIRST SECURITY ISLAMI BANK LIMITED PROFIT AND LOSS ACCOUNT (Un-audited) FOR THE PERIOD 01 JANUARY 2017 TO 31 MARCH 2017 March, 2017 Taka March, 2016 Taka Investments Income Profit Paid on Deposits 6,734,082,476 (4,798,381,779) 6,373,532,781 (4,777,363,062) Net Investment Income 1,935,700,697 1,596,169,719 27,611,608 122,240,566 121,122,757 4,750,457 76,011,351 56,546,180 Income from Investment in shares and securities Commission, Exchange and Brokerage Other Operating Income 270,974,931 137,307,988 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 2,206,675,628 1,733,477,707 759,623,225 124,066,345 366,080 6,698,774 29,304,192 3,212,500 182,563 174,800 98,707,851 17,897,039 188,866,216 560,919,570 86,217,311 3,762,315 5,661,223 32,567,678 3,125,403 182,563 470,800 46,000 89,925,737 12,562,152 209,300,445 Total Operating Expenses 1,229,099,585 1,004,741,197 Profit before Provision and tax Provisions for Investments including off-B/S items Provision for diminution in value of Investment in share Total Provisions 977,576,043 330,000,000 3,095,545 333,095,545 728,736,511 189,000,000 37,532,099 226,532,099 Total Profit before Taxes 644,480,498 502,204,412 312,824,334 312,824,334 331,656,164 736,050,186 1,067,706,350 233,195,683 233,195,683 269,008,728 500,590,957 769,599,685 128,896,100 128,896,100 938,810,250 100,440,882 100,440,882 669,158,803 0.49 0.40 Provision for Taxation Deferred Tax Income Net Profit after tax for the period Retained Surplus Brought Forward from Previous Year Appropriations Statutory Reserve Other Reserve Retained Earnings Carried Forward Earnings Per Share (EPS) Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director Director Chairman
10. FIRST SECURITY ISLAMI BANK LIMITED CASH FLOW STATEMENT (Un-audited) FOR THE PERIOD 01 JANUARY 2017 TO 31 MARCH 2017 March, 2017 Taka A. Cash Flow from Operating Activities Investment Income Receipt Profit paid on Deposits Dividend Receipts Fees & Commission Receipt Payment to Employees Payment to Suppliers Income Tax Paid Receipts from Other Operating Activities Payment for other Operating Activities Operating Profit before changes in Operating Assets & Liabilities Increase /(Decrease) in Operating Assets & Liabilities Investments to Customers Other Assets Deposits Received from Customers Other Liabilities Net Cash Inflow/(Outflow) from Operating Activities B. Cash Flow from Investing Activities Investment in Shares and Securities Purchase of Property, Plant and Equipment Sale of Property, Plant and Equipment Net Cash Inflow/(Outflow) from Investing Activities C. Cash Flow from Financing Activities Increase/ (Decrease) in Share Capital Increase/(Decrease) in Placement from Banks & Fls Receipt/(Payment) of Mudaraba Subordinated Bond Net Cash Inflow/(Outflow) from Financing Activities D. Net Increase/Decrease of Cash & Cash Equivalents (A+B+C) Effect of Exchange Rate on Cash & Cash Equivalents E. Opening Cash & Cash Equivalents F. Closing Cash & Cash Equivalents (D+E) Cash in Hand (Including Foreign Currencies) Balance with Bangladesh Bank, Other banks, FIS & Placement Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director March, 2016 Taka 6,061,642,586 (3,165,425,262) 5,070,194 122,240,566 (762,835,725) (42,315,852) (303,875,005) 121,122,757 (320,284,715) 1,715,339,544 5,927,525,888 (3,897,200,051) 3,829,907 76,011,351 (564,044,973) (42,074,910) (215,072,880) 56,545,680 (305,758,094) 1,039,761,919 (15,890,810,905) (753,553,370) (3,049,955,607) 1,662,739,893 (18,031,579,989) (16,316,240,445) (13,756,795,634) 126,809,444 2,580,721,016 (2,189,128) (11,051,454,302) (10,011,692,383) (14,796,685) (95,926,745) (110,723,430) (363,339,914) (248,729,112) (612,069,026) 4,377,978,415 (382,000,000) 3,995,978,415 (12,430,985,460) 47,324,142,183 34,893,156,723 1,319,287,303 191,533,802 (382,000,000) (190,466,198) (10,814,227,607) 42,470,442,048 31,656,214,441 1,174,363,624 33,573,869,420 30,481,850,817 34,893,156,723 31,656,214,441 Director Chairman
11. FIRST SECURITY ISLAMI BANK LIMITED STATEMENT OF CHANGES IN EQUITY (Un-audited) FOR THE PERIOD 01 JANUARY 2017 TO 31 MARCH 2017 Particulars Paid-up Capital Statutory Reserve Other Reserve BDT BDT BDT Balance as on 01 January 2017 Changes in Accounting Policy Restated Balance Surplus/(Deficit) on account of Revaluation of Properties Surplus/(Deficit) on account of Revaluation of Investments Net Gains and Losses not Recognized in the Income Statement 6,788,738,880 6,788,738,880 2,412,128,110 2,412,128,110 402,850,965 402,850,965 Assets Reval. Reserve BDT 362,198,654 362,198,654 Retained Earnings BDT 736,050,186 736,050,186 Total BDT 10,701,966,795 10,701,966,795 - - - - - - - - - - - - - - - - - - Net Profit for the period - - - - Cash Dividends - - - - Transfer to Statutory Reserve - - - Transfer to Other Reserve - - - Revaluation reserve to Other Reserve - - - 128,896,100 - 331,656,164 (128,896,100) 331,656,164 - - - - - Balance as on 31 March 2017 6,788,738,880 2,541,024,210 402,850,965 362,198,654 938,810,250 11,033,622,959 Balance as on 31 March 2016 6,788,738,880 2,002,687,676 75,556,891 372,259,728 669,158,803 9,908,401,978 Head of FAD (C.C) Dhaka, 08 May 2017 Company Secretary Managing Director Director Chairman
12. Selective Notes to the Financial Statements As at and for the 1st quarter ended 31 March 2017 01 . Basis of Accounting The financial statements as at and for the 1st quarter ended 31 March 2017 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. 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, balance with other Banks and Financial Institutions, Placement with Banks and other Financial Institutions. 04. 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 1st quarter ended 31 March 2017. All intra-group transactions, balances, income and expenses are eliminated at the time of consolidation. 05. Provisions a) General Investments and Investment 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 2016, Income Tax Ordinance 1984 and other relevant legislation as applicable. 06. 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. 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. 08. Others Figures relating to previous year/period included in this period have been rearranged wherever considered necessary.