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00 Annual Report 2020 Cover www.dhakabankltd.com LANDMARK OF EXCELLENCE Amid the ongoing evolution, Dhaka Bank has proved its competence. We persistently pursue to reach the height where the standard of excellence is at its best. We have put our landmark of excellence here and intend to increase it even farther. LETTER OF TRANSMITTAL All Shareholders of Dhaka Bank Limited Bangladesh Bank Bangladesh Securities & Exchange Commission (BSEC) Registrar of Joint Stock Companies & Firms Dhaka Stock Exchange Limited (DSE) & Chittagong Stock Exchange Limited (CSE) Dear Sir(s), Annual Report of Dhaka Bank Limited for the year ended December 31, 2020 We enclose herewith a copy of Annual Report along with the audited financial statements including consolidated and separate balance sheet, profit and loss account, cash flow statement, statement of changes in equity, liquidity statement for the year ended December 31, 2020 along with notes thereto of Dhaka Bank Limited (the Bank) and its subsidiaries - Dhaka Bank Securities Limited and Dhaka Bank Investment Limited for your kind information and record. We have also enclosed separate financial statements of Islamic Banking Branches and Off-Shore Banking Unit (OBU) of the Bank. Financial statements of the Bank comprise those of Conventional and Islamic Banking Branches and Off-Shore Banking Unit while consolidated financial statements comprise financial statements of the Bank and its subsidiaries. General review of this report, unless explained otherwise, is based on the financials of the Bank rather than consolidated financial statements. With best regards, Yours sincerely, Md. Shahjahan Miah SVP & Company Secretary DHAKA BANK LIMITED www.dhakabankltd.com ANNUAL REPORT 2020 01 TABLE OF CONTENTS ABOUT US 2020 Performance Highlights - The Bank 05 Bank’s Profile 06 Bank’s Rating & Achievement 08 Milestones 09 2020 Results Summary 10 Values & Objectives Vision, Mission & Core Values 11 Strategic Objectives & Ethical Principles 12 Ethics and Compliance 13 Customer Charter 14 Our Strength and Our Confidence 14 Our Story 15 Corporate Governance & Strategic Review Board of Directors and Committees of the Board 17 Sponsor Shareholders 20 Chronicle of a Rare Visionary 21 Directors’ Profile 22 Chairman’s Statement 29 Review of the Managing Director & CEO 37 Report of the Audit Committee of the Board 43 Report of the Shari’ah Supervisory Committee 45 Dhaka Bank Management Committee 49 SHAREHOLDERS’ Distribution of Shareholdings 51 Dividends & Stock Details 51 INFORMATION Financial Calendar 2020 52 Information Sensitive to Share Price 52 Market Price Information 52 5-Year Financial Highlights 53 Value Added Statements Economic Impact Report 55 Value Added Statement 56 Contribution to National Exchequer 56 5-Year Essential Performance Graphs--Bank 57 Dividend distribution policy Dhaka Bank 60 DIRECTORS’ REPORT World Economy 62 Bangladesh Economy 64 Rooms for Business 66 Financial Performance 66 Dividend 66 Way Forward 2021 68 Goals Set for 2021 68 cwiPvjKM‡Yi cÖwZ‡e`b 2020 69 COMPLIANCE REPORT ON Compliance Report on BSEC's Notification 71 BSEC'S NOTIFICATION Certifcate on Compliance of Conditions of Corporate Governance 87 CEO’s & CFO’s Declaration to the Board of Directors 88 DHAKA BANK LIMITED 02 ANNUAL REPORT 2020 www.dhakabankltd.com TABLE OF CONTENTS SUSTAINABILITY OF Sustainability Report 90 BANKING Developing Cluster Finance 91 New insight in 2021 92 SUSTAINABILITY Sustainable Finance & Green Banking 94 Green Finance Portfolio 95 REPORTING Meeting Corporate Social Responsibility 95 MANAGEMENT Corporate Banking 99 DISCUSSION & ANALYSIS Syndications and Structured Finance 99 Business Operations 101 Prevention of Money Laundering 102 Asset-Liability Management 104 Human Resources 105 Human Resources Accounting 106 Human Capital 107 Information Technology 107 Internal Control & Compliance 109 Islamic Banking Operations 110 Retail Business 111 Off-Shore Banking 112 International Business 112 Dhaka Bank Training Institute 113 Cash Management 114 RMG Financing 115 RISK MANAGEMENT & Risk Management of Dhaka Bank 117 Risk Management Framework 117 CONTROL ENVIRONMENT Risk Mitigation Methodology 117 Risk Management Report 122 Basel III: Dhaka Bank Perspective 122 AUDITOR'S REPORT & Independent Auditor’s Report 124 Consolidated Financial Statements 129 AUDITED Dhaka Bank Financial Statements 134 FINANCIAL STATEMENTS Financial Statements of Islamic Banking 217 Financial Statements of Off-Shore Banking Unit 232 Financial Statements of Dhaka Bank Securities Limited 248 Financial Statements of Dhaka Bank Investment Limited 270 Disclosures on Risk Based Capital 278 Branch Network 293 Abbreviations 296 26th AGM Notice of the 26th AGM 297 Attendance Slip 299 Proxy Form 299 DHAKA BANK LIMITED www.dhakabankltd.com ANNUAL REPORT 2020 03 100TH BIRTH ANNIVERSARY OF FATHER OF THE NATION BANGABANDHU SHEIKH MUJIBUR RAHMAN Dhaka Bank Limited has celebrated Centenary Birthday of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman at its Corporate Office premises . DHAKA BANK LIMITED 04 ANNUAL REPORT 2020 www.dhakabankltd.com 2020 PERFORMANCE HIGHLIGHTS - THE BANK Core Business Growth BDT in million unless mentioned otherwise 2020: 295,337 M 2020: 198,660 M Assets Loans & Advances 2019: 285,009 M 4% 2019: 195,634 M 2% 2020: 205,667 M 2020: 18,792 M Deposits Shareholders’ Equity 2019: 204,530 M 1% 2019: 17,210 M 9% 2020: 8,959 M 2020: 5,207 M Paid-up Capital Operating Profit 2019: 8,532 M 5% 2019: 6,098 M -15% Earnings Per Share 2020: Tk. 2.27 NPL Ratio decreased 2020: 3.13% stood at 2019: Tk. 1.75 29% to 2019: 4.74% -34% 2020: 124,010 M 2020: 95,335 M Import Export 2019: 151,121 M -18% 2019: 130,156 M -27% 2020: 15,804 M 2020: 6,227 M Inward Remittance Classified Loans 2019: 10,385 M 52% 2019: 9,278 M -33% Return on Assets 2020: 0.70 Return on Equity 2020: 11.28 (ROA)% 2019: 0.56 25% (ROE)% 2019: 9.28 22% Financial Inclusion Growth (direct & indirect) BDT in million unless mentioned otherwise Contribution to 2020: 4,500 M Total Number of 2020: 565,152 National Exchequer 2019: 4,899 M -8% Deposit Accounts 2019: 540,493 5% Number of 2020: 373,171 2020: 26,717 M Transaction Through 36% SME Financing 4% DBL go app 2019: 273,932 2019: 25,679 M 2020: 3,592 M Number of 2020: 43,654 Agri-Loan -9% Transaction Through 56% Disbursement 2019: 3,937 M Internet Banking 2019: 27,907 Number of 2020: 804,273 Number of 2020: 766,789 Transaction Through -5% E-statement 33% ATM 2019: 845,038 Delivered 2019: 576,500 DHAKA BANK LIMITED www.dhakabankltd.com ANNUAL REPORT 2020 05 BANK’S PROFILE About the Bank strength. The Bank is engaging with Basel III to position itself competitively in the new postcrisis global financial risk and Regulatory Dhaka Bank Limited is the brainchild of a host of committed landscape. To keep up capital adequacy as per Basel-III requirement, the entrepreneurs and farsighted dreamers of Banking excellence. Established in July 5, 1995, the Bank is now an admired provider of Bank issued Non-Convertible Subordinated Bond to strengthen the financial services and has positioned itself as a strong brand in the mind capital base in line with the newly introduced Capital Adequacy of Customers. ‘Excellence in Banking’ is our motto and to become the Guidelines under Basel-III Accord. As a result, DBL’s Regulatory capital best performing bank in the country is our mission. As a leading private as on December 31, 2020 stood at Tk. 29,016 million, whereas, the commercial bank in Bangladesh, our eminence is backed by quality Capital to Risk Weighted Assets Ratio (CRAR) was 14.52% under products and services, superior technology and highly motivated Basel-III, against Central Bank’s capital requirement of 12.50%. personnel to realize your dream. We are recognized for our good governance practices, compliance with Regulatory guidelines, flexibility The concept of economic capital has come up to act as a safety cushion to growing needs and adaptability to the changing world. for the Bank, particularly in the wake of the global credit crisis. Year 2020 still saw the effect of unanticipated losses of banks from credit Our strategy & achievement risks and extent of market volatility. Under such a market it becomes imperative to manage the Banking business in a risk sensitive economic Customer centricity is our main strategic focus. The ultimate goal is to capital framework. So we are carefully considering the potential maximize investors’ wealth by running business efficiently and ethically. unexpected losses and thus, bringing up the concept of economic capital To protect investors’ interest, the Bank constantly pursues strategies for sustainable growth and wider financial integration. Key businesses are that is associated with each individual activity to minimize the risks of the diversified into Corporate Banking, SME, Agriculture, Consumer Banking Balance Sheet and safeguard the interest of the stakeholders. and Islamic Banking. Business is run on a viable platform backed by other functions such as Business Operations, IT, R&D, Marketing, HR, Our concern for people & environment Procurement & Logistics, Risk Management, Compliance, Internal Audit, We are committed to making a better society by working and donating in Financial Administration and so forth. Moreover, the Bank group has two different sectors such as, education, health, disaster management, subsidiaries namely Dhaka Bank Securities Limited to look after capital sports and some other sectors having national priority. Significant CSR market and brokerage service and Dhaka Bank Investment Limited
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