Investment Corporation of Bangladesh and its Subsidiaries

Consolidated Balance Sheet as at 31 March 2012

(Unaudited)

(Audited)

March 31, 2012

Taka

June 30, 2011

Taka

Cash and Bank Balances

Investments:
Capital Investment in Other Institutions
Marketable Securities- at Market value
Investment in Bangladesh Fund

11,776,620,649
30,710,931,427
48,752,837
25,662,178,590
5,000,000,000

10,619,121,963
32,493,168,953
92,418,140
30,134,050,813
2,266,700,000

Loans and Advances:

Margin Loan Secured

14,186,958,924
10,887,465,235
158,967,181
12,951,259
272,071,723
56,275,081
940,665,843
700,000,000
1,158,562,601

12,715,206,292
10,428,306,591
121,565,631
18,733,310
295,998,806
56,275,081
878,350,840
915,976,033

145,527,215

143,664,997

3,310,404,050
60,130,442,265

4,438,423,076
60,409,585,281

5,491,500,000
31,500,000
5,460,000,000

31,500,000
31,500,000
-

22,972,127,340
68,000,000
26,617,059
7,712,539,470
36,270,783,869

22,711,873,351
68,000,000
26,617,059
7,540,847,182
30,378,837,592

Property and Assets

Unit & Mutual Fund Advance Account Secured

Consumer Credit Scheme

Bridging Loan
Debenture Loan
Lease Receivables
Advance Against equity

Other Loans and Advances

Premises and Equipment
(at cost less depreciation)

Other Assets
Total Assets

Liabilities and Capital

Liabilities
Borrowings:
Government Loan
Borrowings From Different Banks
Deposits
Debentures
Deferred Interest
Other Liabilities and Provisions
Carried forward

Investment Corporation of Bangladesh and its Subsidiaries

Consolidated Balance Sheet as at 31 March 2012 (Contd.)
(Unaudited)

(Audited)

March 31, 2012

Taka

June 30, 2011

Taka

Minority Interest
Capital / Shareholders Equity
Paid-up Capital
Reserves
Revaluation Reserve for investment
Retained Earnings

36,270,783,869
21,808
23,859,636,588
3,375,000,000
10,568,655,030
6,655,651,109
3,260,330,449

30,378,837,592
33,875
30,030,713,814
2,500,000,000
8,028,145,114
12,480,522,802
7,022,045,898

Total Liabilities and Shareholders Equity

60,130,442,265

60,409,585,281

0.51

0.06

622,476,000
72,476,000
550,000,000

2,122,976,000
500,000
72,476,000
2,050,000,000

Brought forward

Contra Entries
Off-Balance Sheet Items:
Contingent Liabilities:
Penalty imposed by SEC-RPO of Golden Son Ltd.
Commitment on NBL on A/C of Nasrin-Arju Cattle Goat Feed

Guarantee to DSE & CSE on behalf of ISTCL

Commitments:

2,872,700,000

2,872,700,000

Lease Financing
Debenture Financing
Pre-IPO Placement
Investment in Direct Equity
Investment in Bond
Purchase of Preference Share

250,000,000
542,500,000
706,600,000
763,600,000
350,000,000
260,000,000

250,000,000
542,500,000
706,600,000
763,600,000
350,000,000
260,000,000

Total Off-Balance Sheet Items

3,495,176,000

4,995,676,000

Investment Corporation of Bangladesh and its Subsidiaries

Consolidated Profit and Loss Account
For the period of 9 months ended 31 March
(UNAUDITED)
for the 9 months ended 31
March
July 01, 2011 to March
31, 2012
Taka

July 01, 2010 to

March 31, 2011
Taka

for the 3rd quarter ended 31

March
January 01, 2012 to
March 31, 2012
Taka

(Restate)

January 01, 2011 to

March 31, 2011
Taka
(Restate)

Operating Income
Interest Income
Less: Interest paid on Deposits, Borrowings, etc.
Net Interest Income
Dividend
Capital Gain
Fees, Commissions & Service Charges
Other Operating Income
Total Operating Income (a)

2,041,803,326
2,339,430,351
(297,627,025)
433,544,893
1,887,683,545
606,767,093
26,646,449
2,657,014,954

1,962,055,999
1,250,419,742
711,636,257
142,034,757
3,526,797,247
1,277,604,539
27,060,059
5,685,132,859

789,464,164
1,007,270,807
(217,806,643)
269,672,168
422,536,209
144,767,657
3,120,362
622,289,752

675,372,335
412,638,807
262,733,528
16,466,130
719,203,912
263,977,034
2,652,644
1,265,033,248

Operating Expenses
Salary and Allowances
Rent, Taxes, Insurance, Electricity, etc.
Legal Expenses
Postage, Stamps, Telegram & Telephone
Auditors Fees
Stationary, Printing, Advertisement, etc.
Directors Fees & Allowances
Repair, Maintenance & Depreciation-Premises &
Equipment
Brokerage
Other Operating Expenses
Total Operating Expenses (b)

237,887,830
35,903,401
732,739
2,276,990
138,750
10,776,319
1,653,250
22,878,632

239,259,955
37,633,625
1,683,402
2,094,015
46,500
14,866,364
1,222,750
25,888,095

58,747,573
5,364,732
272,223
1,096,117
53,750
3,373,324
617,000
3,068,287

72,150,535
12,721,665
309,005
878,588
25,500
5,967,180
437,250
8,136,266

26,306,618
88,686,518
427,241,046

120,483,909
227,842,762
671,021,376

7,384,579
7,421,755
87,399,339

21,758,472
19,994,412
142,378,872

Operating Profit (a-b)

2,229,773,908

5,014,111,483

534,890,413

1,122,654,375

Add: Non-operating Income

Profit before Provision

19,104,710
2,248,878,618

12,419,815
5,026,531,298

534,890,413

4,188,000
1,126,842,375

Provision against Loans and Advances

Other Provisions
Total Provision (d)
Profit before Tax (c-d)
Less: Provision for Taxation

286,225,187
25,034,350
311,259,537
1,937,619,081
516,595,764

196,650,000
30,000,000
226,650,000
4,799,881,298
754,499,148

115,683,500
5,034,350
120,717,850
414,172,563

93,050,000
10,000,000
103,050,000
1,023,792,375

Net Profit After Tax

1,421,023,317

4,045,382,149

176,566,042
237,606,521

227,889,148
795,903,227

Less: Minority Interest

Net Profit Available for Appropriation
Earnings Per Share

3,600

10,700

1,307

755

1,421,019,717
42.10

4,045,371,450
119.86

237,605,213
7.04

795,902,472
23.58

Investment Corporation of Bangladesh

Cash Flow Statement
For the Period of 9 months ended 31 March
(UNAUDITED)

Cash flow from operating activities:

Interest Received
Interest Paid
Income from Investment
Dividend Received
Fees & Commissions Received
Cash Paid to Employees
Cash Paid to Suppliers
Cash Received from Other operating activities
Cash Paid for Other operating activities
Cash Flow before changes in Operating Assets & Liabilities
Changes in Operating Assets & Liabilities
Increase/Decrease in Loans & Advances
Increase/Decrease in Investment in other Instutions
Increase/Decrease in other Assets
Increase/Decrease in Deposit Received from other Banks
Increase/Decrease in Deposit received from Other Depositors
Increase/Decrease in Long Term Debt
Increase/Decrease in other Liabilities
Net Cash Flow from Operating Activities (a)
Cash Flow from Investment Activities:
Cash inflow from Sale of Securities
Cash outflow for Purchase of Securities
Cash Increase/Decrease From Sale/Purchase of Fixed Asset
Net Cash Employed in Investment Activities (b)
Cash Received from Financing Activities
Cash Paid against Borrowings
Dividend paid in Cash
Net Cash Received from Financing Activities
Net Cash Increase/Decrease (a+b+c)
Opening Cash Balance
Closing Cash Balance
Operating Cash Flow Per Share

July 01, 2011 to March 31,

2012
Taka

July 01, 2010 to March 31,

2011
Taka

1,991,745,721
(2,131,232,698)
1,887,683,545
416,389,450
556,089,652
(230,845,789)
(72,568,081)
45,751,159
(115,270,636)
2,347,742,323

1,852,827,332
(930,428,591)
3,526,797,247
141,453,079
1,277,604,539
(239,259,955)
(82,212,000)
39,479,874
(349,549,421)
5,236,712,104

(1,471,752,632)
43,665,303
(4,187,545,123)
(2,619,525,291)

(2,197,084,719)
(53,402,640)
(9,345,569,172)
(3,119,525,291)

2,879,779,280
5,460,000,000
802,999,991
907,621,528
3,255,363,851

7,050,000,000
7,397,303,234
(268,278,588)
4,968,433,516

2,115,352,060
(3,696,091,292)
1,128,019,026
(452,720,206)

8,253,436,147
(15,317,955,985)
(39,290,073)
(7,103,809,911)

(2,134,568,980)
(273,377,958)

1,222,860,923
(241,305,849)

(2,407,946,938)
394,696,707
3,427,362,083
3,867,058,790
96.46

981,555,074
(1,153,821,321)
1,867,582,792
860,200,034
147.21

Investment Corporation of Bangladesh and its Subsidiaries

Consolidated Statement of changes in Equity
For the period of 9 months ended 31 March 2012
(UNAUDITED)

Paid up Capital

Particulars

Balance as at 1 July 2011

Stock Dividend Transfer to Paid up Capital

Amount Transferred to Different Reserves

(Taka)
2,500,000,000
875,000,000
-

Amount adjusted to Revaluation Reserve for

Investment during the period
Stock Dividend paid by the subsidiary companies

Dividend Cash for FY 2010-2011

Amount Transferred to Benevolent Fund
Addition during the period
Balance as at 31 March 2012

Reserve
(Taka)
20,508,667,916
2,674,583,942
(5,958,945,719)

3,375,000,000

17,224,306,139

Retained
Earnings
(Taka)
7,022,045,898
(875,000,000)
(2,674,583,942)

(1,219,599,592)
(375,000,000)
(38,551,631)
1,421,019,717
3,260,330,449

Total
(Taka)
30,030,713,814
(5,958,945,719)
(1,219,599,592)
(375,000,000)
(38,551,631)
1,421,019,717
23,859,636,588
(1,065,965,591)

Consolidated Statement of changes in Equity

For the period of 9 months ended 31 March 2011 (Restated)
(UNAUDITED)
Particulars

Balance as at 1 July 2010 (Restated)

Stock Dividend Transfer to Paid up Capital

Amount Transferred to Different Reserves

Paid up Capital
(Taka)
2,000,000,000
500,000,000
-

Amount adjusted to Revaluation Reserve for

Investment during the period

Dividend Cash for FY 2009-2010

Amount Transferred to Benevolent Fund
Addition during the period
Balance as at 31 March 2011

Reserve
(Taka)
19,395,796,906
2,562,500,000

Retained
Earnings
(Taka)
6,245,327,817
(500,000,000)
(2,562,500,000)

(844,233,873)
-

2,500,000,000

21,114,063,033

Total
(Taka)
27,641,124,723
(844,233,873)

(306,000,000)
(50,000,000)
4,045,371,450
6,872,199,266

(306,000,000)
(50,000,000)
4,045,371,450
30,486,262,300

Investment Corporation of Bangladesh

Balance Sheet as at 31 March 2012
(Unaudited)

(Audited)

Note

March 31, 2012

Taka

June 30, 2011

Taka

11,308,882,556
28,919,757,082

9,724,164,561
30,228,678,394

5.1
5.2
5.3
5.4

579,499,100
48,752,837
23,291,505,145
5,000,000,000

579,499,100
92,418,140
27,290,061,154
2,266,700,000

6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8

11,223,384,995
3,478,967,821
158,967,181
12,951,259
272,071,723
56,275,081
940,665,843
700,000,000
5,603,486,086

10,047,050,947
3,659,155,578
121,565,631
18,733,310
295,998,806
56,275,081
878,350,840
5,016,971,701

Property and Assets

Cash and Bank Balances
Investments:
Capital Investment in ICB Subsidiary Companies
Capital Investment in Other Institutions
Marketable Securities- at Market value
Investment in Bangladesh Fund
Loans and Advances:
Margin Loan Secured
Unit & Mutual Fund Advance Account Secured
Consumer Credit Scheme
Bridging Loan
Debenture Loan
Lease Receivables
Advance Against equity
Other Loans and Advances

Premises and Equipment

(at cost less depreciation)

77,885,187

74,910,516

Other Assets
Total Assets

2,962,549,570
54,492,459,391

2,699,576,142
52,774,380,560

5,491,500,000

31,500,000

9.1
9.2

31,500,000
5,460,000,000

31,500,000
-

10
11
12
13

22,972,127,340
68,000,000
26,617,059
4,527,192,493
33,085,436,892

22,711,873,351
68,000,000
26,617,059
4,145,837,045
26,983,827,455

Liabilities and Capital

Liabilities
Borrowings:
Government Loan
Borrowings From Different Banks
Deposits
Debentures
Deferred Interest
Other Liabilities and Provisions
Carried forward

Investment Corporation of Bangladesh

Balance Sheet as at 31 March 2012 (Contd.)
(Unaudited)

(Audited)

March 31, 2012

Taka

June 30, 2011

Taka

33,085,436,892

26,983,827,455

14
16.1
16.2

21,407,022,499
3,375,000,000
9,209,237,927
7,245,029,068

25,790,553,105
2,500,000,000
6,959,237,927
12,253,656,020

17

1,577,755,504

4,077,659,158

54,492,459,391

52,774,380,560

Notes

Brought forward
Capital / Shareholders Equity
Paid-up Capital
Reserves
Revaluation Reserve for investment
Retained Earnings
Total Liabilities and Shareholders Equity

(0)

Contra Entries
Off-Balance Sheet Items:
Contingent Liabilities:
550,000,000
550,000,000

2,050,000,000
2,050,000,000

Commitments:
Lease Financing
Debenture Financing
Pre-IPO Placement
Investment in Direct Equity
Investment in Bond
Purchase of Preference Share

2,872,700,000
250,000,000
542,500,000
706,600,000
763,600,000
350,000,000
260,000,000

2,872,700,000
250,000,000
542,500,000
706,600,000
763,600,000
350,000,000
260,000,000

Total Off-Balance Sheet Items

3,422,700,000

4,922,700,000

Guarantee to DSE & CSE on behalf of ISTCL

Investment Corporation of Bangladesh

Profit and Loss Account
For the period of 9 months ended 31 March
(UNAUDITED)
for the 9 months ended 31 March
July 01, 2011 to
March 31, 2012
Taka
Operating Income
Interest Income
Interest paid on Deposits, Borrowings, etc.
Net Interest Income
Dividend
Capital Gain
Fees, Commissions & Service Charges
Other Operating Income
Total Operating Income

July 01, 2010 to

March 31, 2011
Taka
(Restate)

1,698,044,995

1,609,871,177

(2,339,430,352)

(1,250,419,742)

(641,385,357)

359,451,435

for the 3rd quarter ended 31

March
January 01, 2012 to
March 31, 2012
Taka

January 01, 2011 to

March 31, 2011
Taka
(Restate)

664,007,302

562,818,285

(1,007,270,808)
(343,263,506)

(412,638,807)
150,179,478

394,141,613

114,823,794

261,872,302

8,426,083

1,613,941,785

2,941,184,320

402,614,627

678,767,622

147,356,300

324,770,462

49,220,945

98,215,893

1,264,960

431,279

1,515,319,300

3,740,661,289

531,814
370,976,181

59,350
935,648,425

129,323,041

137,704,816

24,431,898

37,082,897

21,973,775

21,811,504

2,220,536

7,222,250

497,219

1,409,102

106,703

195,005

1,733,669

1,456,372

881,377

698,186

Operating Expenses
Salary and Allowances
Rent, Taxes, Insurance, Electricity, etc.
Legal Expenses
Postage, Stamps, Telegram & Telephone
Auditors Fees
Stationary, Printing, Advertisement, etc.

90,000

30,000

5,445,093

7,076,894

1,805,255

3,150,261

775,000

398,000

290,000

140,000

Repair, Maintenance & Depreciation-Premises &

Equipment
Brokerage

10,176,774
8,509,966

13,237,199
62,801,169

580,752

5,022,296

3,114,841

10,156,678

Other Operating Expenses

28,226,047

24,683,680

Total Operating Expenses

206,750,583

270,578,734

9,059,251
42,520,612

7,393,602
71,061,174

1,308,568,717

3,470,082,555

328,455,569

864,587,251

Directors Fees & Allowances

Operating Profit
Non-operating Income
Profit before Provision
Provision against Loans and Advances
Provision against Investments

19,104,710

12,419,815

1,327,673,427

3,482,502,370

328,455,569

4,188,000
868,775,251

23,802,948

76,650,000

10,000,000

23,050,000

Other Provisions

25,000,000

30,000,000

Total Provision

48,802,948
1,278,870,479

Profit before Tax

Provision for Taxation
Net Profit Available for Appropriation

Earnings Per Share

(240,222,501)

106,650,000

5,000,000
15,000,000

10,000,000
33,050,000

3,375,852,370

313,455,569

835,725,251

(498,502,249)

1,038,647,978

2,877,350,121

(92,635,923)
220,819,646

(146,892,249)
688,833,002

30.77

85.25

6.54

20.41

Investment Corporation of Bangladesh

Cash Flow Statement
For the Period of 9 months ended 31 March
(UNAUDITED)

Cash flow from operating activities:

Interest Received
Interest Paid
Income from Investment
Dividend Received
Fees & Commissions Received
Cash Paid to Employees
Cash Paid to Suppliers
Cash Received from Other operating activities
Cash Paid for Other operating activities
Cash Flow before changes in Operating Assets & Liabilities
Changes in Operating Assets & Liabilities
Increase/Decrease in Loans & Advances
Increase/Decrease in Investment in other Instutions
Increase/Decrease in other Assets
Increase/Decrease in Deposit Received from other Banks
Increase/Decrease in Deposit received from Other Depositors
Increase/Decrease in Long Term Debt
Increase/Decrease in other Liabilities
Net Cash Flow from Operating Activities (a)
Cash Flow from Investment Activities:
Cash inflow from Sale of Securities
Cash outflow for Purchase of Securities
Cash Increase/Decrease From Sale/Purchase of Fixed Asset
Net Cash Employed in Investment Activities (b)
Cash Received from Financing Activities
Cash Paid against Borrowings
Dividend paid in Cash
Net Cash Received from Financing Activities
Net Cash Increase/Decrease (a+b+c)
Opening Cash Balance
Closing Cash Balance
Operating Cash Flow Per Share

July 01, 2011 to March 31,

2012
Taka

July 01, 2010 to March 31,

2011
Taka

1,569,180,611
(2,038,412,785)
1,613,941,785
121,556,855
142,778,086
(128,578,122)
(39,916,530)
20,369,670
(37,511,012)
1,223,408,557

1,501,218,510
(939,066,285)
2,941,184,320
117,826,784
324,770,462
(137,704,816)
(35,817,547)
12,851,094
(87,882,848)
3,697,379,674

(1,176,334,048)
43,665,303
(1,830,392,852)
(2,619,525,291)

(1,382,345,846)
(170,402,640)
840,039,823
(3,119,525,291)

2,879,779,280

5,460,000,000
381,355,448
3,138,547,840
4,361,956,397

7,050,000,000
733,616,498
3,951,382,545
7,648,762,219

1,920,024,085
(3,166,789,131)
(2,974,671)
(1,249,739,717)

5,903,436,147
(13,716,464,984)
6,502,948
(7,806,525,889)

(273,377,958)

(241,305,849)

(273,377,958)
2,838,838,722
670,051,144
3,508,889,866
129.24

(241,305,849)
(399,069,519)
842,949,329
443,879,809
226.63

Investment Corporation of Bangladesh

Statement of changes in Equity
For the Period of 9 months ended 31 March 2012
(UNAUDITED)
Paid up Capital

Particulars

(Taka)
2,500,000,000
875,000,000

Balance as at 1 July 2011

Stock Dividend Transfer to Paid up Capital

Amount Transferred to Different Reserves

Amount adjusted to Revaluation Reserve for

Investment during the period

Dividend Cash for FY 2009-2010

Amount Transferred to Benevolent Fund
Addition during the period
Balance as at 31 March 2012

Reserve
(Taka)
19,212,893,947
-

Retained
Earnings
(Taka)
4,077,659,158
(875,000,000)

2,250,000,000

(2,250,000,000)

(5,008,626,952)
-

3,375,000,000

16,454,266,995

Total
(Taka)
25,790,553,105
(5,008,626,952)

(375,000,000)
(38,551,631)
1,038,647,978
1,577,755,504

(375,000,000)
(38,551,631)
1,038,647,978
21,407,022,499

Statement of changes in Equity

For the Period of 9 months ended 31 March 2011
Particulars
Balance as at 1 July 2010
Stock Dividend Transfer to Paid up Capital

Amount Transferred to Different Reserves

(UNAUDITED & RESTATED)

Paid up Capital
Reserve
(Taka)
2,000,000,000
500,000,000
-

Amount adjusted to Revaluation Reserve for

Investment & Reserve for overpriced Securities

Dividend Cash for FY 2008-2009

Amount Transferred to Benevolent Fund
Addition during the period
Balance as at 31 March 2011

2,500,000,000

Retained

(Taka)
18,201,196,703
1,150,000,000
1,180,866,330
-

20,532,063,033

(Taka)
3,222,477,869
(500,000,000)
(1,150,000,000)

Total
(Taka)
23,423,674,572
1,180,866,330

(300,000,000)

(300,000,000)

(50,000,000)
2,877,350,121
4,099,827,990

(50,000,000)
2,877,350,121
27,131,891,023