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To the Shareholders of Southeast Bank Limited

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To the Shareholders of Southeast Bank Limited COMMITTED TO SUSTAINABLE GROWTH TOGETHER Nature has spirit and is the main seat of excellence. If we look deep into nature, we get a variety of lessons from its different components and forms. The gushing river heading towards the sea for awaited unison teaches us to face odds with courage and fortitude. The wonderful blooming flowers from the green teach us to smile. The lush green grass signaling safety teaches us to be patient and generous. A mountain with its huge strength teaches us determination. Beyond the clouds, the sky is always blue and the sun is always shining. They want us to be persistent and ready for the upcoming days. A small plant’s gradual turning into a giant tree teaches us to pursue growth trajectory with hope and tenacity. The change in nature with the advent of each season displays that actions explain a lot more than words do. Nature, as a whole, also teaches us integrity and stability. Nature has many forms and patterns, and teaches us the benefit of togetherness. It provides us sustenance and stimulates us to excel in performance. It is our bounden duty to protect and nurture nature. In the cover picture, the plant is growing into a better and more advanced state by a process of evolution. So is our Bank. It is gradually evolving into a higher stage and stature by execution of the strategies of sustainable growth strongly supported by all stakeholders especially the loyal customers. We submit ourselves to the nature’s intelligence to rise up high. Our pursuit of sustainable growth path with the togetherness of customers is a quest for superior performance for continuous improvement. Ours is a safe depository for our all stakeholders. Our pledge is to make it a customers’ coveted destination and their preferred Bank to shape up their desired future. Together we shall grow, excel and our actions shall determine our destination. We firmly believe together we shall reach the goal we sincerely long for. ANNUAL REPORT 2016 COMMITTED TO SUSTAINABLE GROWTH TOGETHER Table of Contents SEBL AT A GLANCE Letter of Transmittal 4 Notice of the 22nd Annual General Meeting 5 Vision and Mission 7 Strategic Objectives, Planning and Priorities 9 Core Values, Code of Conduct and Ethical Principles 12 Corporate Profile 17 Corporate Philosophy and Business Model 18 22 Years of Glorious Journey 20 Awards and Recognitions 22 Corporate Organogram 25 Group Corporate Structure 26 Last 10 Years Financial Indicators 27 Forward Looking Ideology 28 PROFILE OF BOARD OF DIRECTORS AND REVIEW OF THE GROUP CHAIRMAN Composition of Board of Directors and its Committees 29 Directors’ Profiles and their representation on Board of other Companies 36 Directors’ Responsibility Statement 48 Review from the office of the Group Chairman 50 Managing Director’s Review and Corporate Management 64 DIRECTORS’ REPORT 69 CORPORATE GOVERNANCE Corporate Governance Report 85 Managing Director’s and CFO’s Declaration on Integrity of Financial Statements to the Board 99 Management Review, Responsibility and Evaluation 100 Credit Rating 143 Audit Committee (Composition, Role, Meetings, Attendance etc.) and Internal Control 144 Report of the Risk Management Committee 149 Evaluation of the Quarterly Financials by the Audit Committee and by the Board 151 Report of the Bank’s Shariah Supervisory Committee 152 Capital Plan 154 RISK MANAGEMENT AND CONTROL FRAMEWORK Report on Risk Management Framework, Mitigation Methodology and Risk Reporting by CRO 159 Disclosure on Risk Based Capital Adequacy (Basel III) 166 Capital Market Exposure 177 SUSTAINABILITY APPRAISAL AND INTEGRATED REPORTING Sustainability Report - At A Glimpse 180 Report on Corporate Social Responsibility 182 Environment Related Initiatives 186 Green Banking Initiatives – Environmental and Social Obligation 188 Integrated Reporting 189 Communication to Shareholders and Stakeholders 197 SEBL OUTLOOK Products and Services 218 Caring for the Employees (Health and Safety) 224 Career Development Program 225 Contribution to National Exchequer 226 Empowering Women 226 Financial Inclusion: Mobile Banking Services – Telecash 230 Service Excellence in Action 231 Bank’s Network: List of Branches and ATMs 232 Memories of 21st AGM 242 FINANCIAL STATEMENTS Independent Auditor’s Report to the Shareholders 260 Consolidated Balance Sheet 262 Consolidated Profit and Loss Account 264 Consolidated Cash Flow Statement 265 Consolidated Statement of Changes in Equity 266 Notes to the Financial Statements 272 FINANCIAL STATEMENTS OF ISLAMIC BANKING BRANCHES 344 FINANCIAL STATEMENTS OF OFFSHORE BANKING 354 FINANCIAL STATEMENTS OF SEBL SUBSIDIARIES 364 STANDARD DISCLOSURES CHECKLIST 419 SAFA Corporate Governance Disclosure Checklist 420 Integrated Reporting Checklist 422 SAFA Standard Disclosure Checklist 427 Important Financial Indicators with Quantitative and Qualitative Factors 430 Proxy Form and Attendance Slip 441 4 Southeast Bank Limited I Annual Report 2016 Letter of Transmittal All Shareholders of Southeast Bank Limited, Bangladesh Bank, Bangladesh Securities and Exchange Commission, Registrar of Joint Stock Companies & Firms, Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited Annual Report of Southeast Bank Limited for the Year -2016 Dear Sir, Thank you for supporting us in the preceding years. It is our immense pleasure to lay before you the Bank’s Annual Report-2016 along with the Audited Financial Statements (consolidated and separate) as at and for the year ended 31st December, 2016. Annual Report-2016 of the Bank comprises Balance Sheet, Profit and Loss Accounts, Statement of Changes in Equity, Cash Flow Statement along with Notes to the Accounts. Information given in our Annual Report-2016 is complete, full and in line with Bangladesh Accounting Standard and International Accounting Standard. We hope that the report will be of use to you today and tomorrow. Best regards, Yours sincerely, Muhammad Shahjahan Additional Managing Director & Company Secretary Southeast Bank Limited I Annual Report 2016 5 Notice of the 22nd Annual SEBL at a glance General Meeting Notice is hereby given to all members of Southeast Bank Limited that the 22nd Annual General Meeting of the Shareholders of the Company will be held on Monday, May 22, 2017 at 11.00 a.m. at Officers’ Club Dhaka, 26 Baily Road, Dhaka to transact the following business and adopt necessary resolutions: AGENDA 1. To receive, consider and adopt the Profit and Loss Accounts of the Company for the year ended on 31st December, 2016 and the Balance Sheet as at that date together with the Reports of the Board and the Auditors thereon. 2. To declare dividend for the financial year ended 31st December, 2016. 3. To elect / re-elect Directors. 4. To appoint Auditors for the term until the next Annual General Meeting and fix their remuneration. 5. Miscellaneous, if any, with the permission of the chair. All Members are requested to attend the meeting on the date, time and place mentioned above. By order of the Board Dated: May 07, 2017 Muhammad Shahjahan Additional Managing Director and Company Secretary NOTES a) The Record Date for the purpose was on April 27, 2017. b) Any member of the Company entitled to attend and vote at the general meeting may appoint a proxy to attend and vote on his/her behalf. Such proxy except for a Corporation must also be a member of the Company. An Attorney of a member need not himself/herself be a member. c) The instrument appointing a Proxy or the Power of Attorney duly signed by the Member and stamped with requisite stamp duty must be submitted at the Registered Office of the Company at least 48 hours before the meeting, i.e. latest by 11.00 a.m. of May 20, 2017. d) Attendance of the Shareholder/Attorney/Proxy shall be recorded up to 11.30 a.m. at the entrance of the venue. Attendance slip has to be submitted at the Registration Counter duly signed. The signature must agree with the recorded signature. e) Annual Report containing, among other papers, this Notice of the 22nd Annual General Meeting, Attendance Slip and Proxy Form are being sent to every member by post. The members may also collect “Proxy Form” from the Share Office of the Company. f) All members are requested to update: (i) The particulars of their Bank Account (ii) Change of Address and (iii) 12 Digits Tax Payer’s Identification Number (e-TIN) in their BOID through Depository Participants (DP) on or before May 15, 2017, with intimation to us. g) Brokerage Houses and DPs are requested to notify us in details showing Shareholder’s name, BOID Number, e-TIN, client- wise shareholding position, Bank Account Number, Routing Number etc. of their Margin Loan holders who hold shares of Southeast Bank Ltd. on the Record Date on or before May 15, 2017. h) If any individual shareholder fails to provide us his/her e-TIN within May 15, 2017, his/her Income Tax at source will be deducted from payable Dividend @15% (fifteen percent) instead to 10% (ten percent) as per amended Income Tax Ordinance 1984 (Section 54) PS: As per Bangladesh Securities and Exchange Commission’s Circular No.SEC/CMRRCD/2009-193/154 dated October 24, 2013, “no benefit in cash or kind, other than in the form of cash dividend or stock dividend, shall be paid to the holders of equity securities” for attending the 22nd Annual General Meeting of the Bank. 6 Southeast Bank Limited I Annual Report 2016 Vision & Mission Our vision, mission and value statements are the keys to the philosophy on which we base ourselves on, what we do and what we want to be Southeast Bank Limited I Annual Report 2016 7 Vision & Mission Our vision, mission and value statements are the keys to the philosophy Mission on which we base ourselves on, what we High quality nancial services with state of the art technology. do and what we Fast customer service.
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