BALANCE SHEET AT 31 DECEMBER 2006

PROPERTY & ASSETS

Cash
In hand (including foreign currencies)
With Bangladesh bank & its agent bank(s)
(Including foreign currencies)
Balance with other banks & financial institutions
In Bangladesh
Outside Bangladesh
Money at call & on short notice
Investments
Government Securities
Others
Loans & Advances
Loans, cash credits, overdrafts etc.
Bills purchased & discounted
Fixed assets including assets taken on lease
Other assets
Non-banking assets
Total Assets
LIABILITIES & CAPITAL
Liabilities
Borrowing from other banks,financial institutions, agents
Deposits & other accounts
Current deposits & other accounts
Bills payable
Saving bank deposits
Fixed deposits/Term deposits
Other liabilities
Total liabilities
Capital/Shareholder's Equity
Paid-up capital
Statutory reserve
Proposed issue of bonus shares

Share premium
Proposed cash dividend
Retained earnings
Total Shareholders' Equity
Total Liabilities & Shareholders' Equity

Off-balance Sheet items at 31 December 2006

Contigent Liabilities
Acceptance & Endorsement
Letters of Guarantee
Irrevocable letters of credit
Bills for collection
Other contingent liabilities

Other Commitments
Documentary credits & short term trade-related transactions
Forward assets purchased & forward deposits placed
Spot & forward foreign exchange contracts
Undrawn note issuance & revoving underwriting facilities
Undrawn formal standby facilities, credit lines & commitment
Total off-Balance sheet items including contingent liabilities
The accompanying notes from an integral part of these financial statements

DECEMBER 2006
Amounts in Taka
At 31 Dec 2006
At 31 Dec 2005
1,783,705,469
196,512,343
1,587,193,126

759,561,720
105,054,105
654,507,615

398,705,122
76,773,874
321,931,248

366,819,473
36,659,948
330,159,525

1,057,723,074

1,104,617,231

3,345,326,162
3,122,313,318
223,012,844

2,256,278,942
2,152,152,008
104,126,934

22,255,639,992
19,924,120,775
2,331,519,217

17,869,844,542
15,252,372,045
2,617,472,497

483,472,109
1,153,865,614
30,478,437,542

442,167,364
580,675,356
23,379,964,628

370,000,000

1,350,000,000

25,289,359,376
2,551,677,212
210,873,646
1,773,130,259
20,473,678,259

18,500,070,655
1,983,287,400
296,085,857
1,176,495,618
15,044,201,780

2,869,336,780

1,962,911,904

28,528,696,156

21,812,982,559

1,116,000,000
545,247,108
279,000,000

930,000,000
351,826,300
186,000,000

ial statements

330
9,493,948
1,949,741,386

330
6,155,439
1,566,982,069

30,478,437,542

23,379,964,628

Amounts in Taka
At 31 Dec 2006
At 31 Dec 2005
11,714,863,822
1,581,337,137
2,665,102,330
1,382,078,088
6,086,346,267

10,506,223,162
1,513,007,722
2,011,380,036
1,437,722,959
5,544,112,445

11,714,863,822

10,506,223,162

PROFIT & LOSS STATEMENT for the year ended 31 December 2006

Amounts in Taka
Year ended
Year ended
At 31 Dec 2006
At 31 Dec 2005
OPERATING INCOME
Intersest income
Interest paid on deposits, borrowings etc
Net interest income

2,842,344,252
(2,186,400,440)
655,943,812

1,804,370,886
(1,359,605,568)
444,765,318

Invesment income
Commission, exchange & brokerage
Other income
Sub Total

249,375,082
556,310,067
126,246,478
931,931,627

206,647,420
441,299,947
72,579,047
720,526,414

Total operating income (a)

1,587,875,439

1,165,291,732

OPERATING EXPENSES
Sallary & allowances
Rent,taxes,insurance,electricity etc.
Legal expenses
Postage,stamps,telecommunication etc.
Stationery,printing,advertisements etc.
Chief executive's salary & fees
Director's fees
Auditor's fee
Depreciation & repairs of Bank's assets
Other expenses

225,741,854
70,903,574
1,581,942
22,318,396
18,789,645
5,451,370
561,655
210,000
61,125,660
109,314,184

153,013,087
52,438,644
887,546
17,280,224
10,297,066
4,892,500
557,490
190,000
40,247,317
84,769,122

Total operating expenses (b)

515,998,280

364,572,996

Profit before provision (c=a-b)

1,071,877,159

800,718,736

Provision against loans & advances

Other provision

104,773,120
-

197,117,782
-

Total provision (d)

104,773,120

197,117,782

Profit before taxation e (c-d)

967,104,039

603,600,954

Provision for taxation f

491,344,722

220,089,576

Current tax
Deferred tax

432,447,206
58,897,516

220,089,576
-

Profit after taxation(e-f)

Balance of profit, brought forward

475,759,317
6,155,439

383,511,378
22,364,252

Profit available for appropriation

Appropriations
Statutory reserve
Proposed bonus share @ 1 share per 4 shares held
Propposed cash dividend @ 10%
Retained surplus
Earnings per share (EPS)

481,914,756

405,875,630

193,420,808
279,000,000
472,420,808
9,493,948
42.63

120,720,191
186,000,000
93,000,000
399,720,191
6,155,439
41.24

CASH FLOW STATEMENT for the year ended 31 December 2006

Amounts in Taka
Year ended
Year ended
At 31 Dec 2006 At 31 Dec 2005
Cash flow from Operating Activities
Interest receipt
Interest payments
Dividend received
Fee & commission receipts
Payments to employees
Payments to suppliers
Income taxes paid
Receipts from other operating activities
Payments for other operating activities
Operating profit beforechanges in operating assets & liabilities
Changes in operating assets & liabilities
Increase/decrease in operating assets
Trading security-debentures & shares
Fund advanced to customers
Other assets
Increase/decrease in operating liabilities
Liabilities on account of customers
Trading liabilities (borrowing)
Other liabilities

3,088,719,334 2,007,491,457
(2,186,400,440) (1,359,605,568)
3,000,000
3,526,850
556,310,067
441,299,947
(231,193,224)
(157,905,587)
(25,177,877)
(15,324,605)
(244,139,137)
(174,144,744)
126,246,478
72,579,047
(204,889,751)
(156,123,026)
882,475,450
661,793,771

Net cash from operating activities (a)

(118,885,910)
404,490
(4,385,795,450) (6,008,648,446)
(544,283,361)
433,012,614
6,789,288,721 5,029,088,806
(980,000,000)
(140,000,000)
301,669,624
114,276,660
1,061,993,624
(571,865,876)
1,944,469,074
89,927,895

Cash Flows from Investing Activities

Purchase of fixed assets
Sale of fixed assets
Proceeds from sale of securities
Payment for purchase of securities
Net cash from/(used in) investing activities (b)

(50,314,038)
1,874,153,005
(2,667,500,000)
(843,661,033)

(361,098,210)
750,000,000
388,901,790

(93,000,000)
(93,000,000)

1,007,808,041
2,232,816,724
3,240,624,765

478,829,685
1,753,987,039
2,232,816,724

1,783,705,469
491,100
1,057,723,074
398,705,122
3,240,624,765

759,561,720
1,818,300
1,104,617,231
366,819,473
2,232,816,724

Cash Flows from Financing Activities

Receipts from issue of ordinary share
Dividend paid
Net cash from financing activities (c)
Net increase in cash (a+b+c)
Effect of exchange rate changes on cash & cash equivalents
Cash & cash equivlents at beginning of the year
Cash & cash equivlents at end of the year (*)
(*) Cash & cash equivalents
Cash
Prize bonds
Money at call & on short notice
Balance with other banks and financial institutions

The accompanying notes from an integral part of these financial statements

006