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Annual Report 2011

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Annual Report 2011 Contents Board of Directors 2 Executive Committee, Audit Committee, Green Banking Committee & Shariah Supervisory Committee 3 Corporate Information 6 Management Team 7 Group Corporate Structure 8 Head Office & Branch Network 9 Credit Rating Report 12 Notice of the 13th Annual General Meeting 13 Chairman's Address 15 Message from the Managing Director 19 Directors' Report 21 Photographs of Project Financed by Standard Bank Ltd. 76 Photographs of Management Committee 78 Status of Compliance of Bangladesh Bank’s guidelines for Corporate Governance (BRPD circular no 16 dated 24.07.2003) 79 Compliance Report on SEC's Notification 82 Shareholders Information Graphical Presentation 85 Five Years Financial Highlights 86 Auditors' Report 88 Consolidated Balance Sheet 90 Consolidated Profit and Loss Account 92 Consolidated Cash Flow Statement 93 Consolidated Statement of Changes in Equity 94 Balance Sheet 95 Profit and Loss Account 97 Cash Flow Statement 98 Statement of Changes in Equity 99 Liquidity Statement 100 Notes to the Financial Statements 101 Balance Sheet of Islami Banking Window 141 Profit and Loss Account of Islami Banking Window 142 Balance Sheet of SBL Capital Management Limited 143 Income statement of SBL Capital Management Limited 144 Cash Flow of SBL Capital Management Limited 145 Statement of Changes in Equity 146 Notes to the Financial Statements of SBL Capital Management Limited 147 Balance with other Banks Nostro Accounts 154 Fixed Assets Including Premises, Furniture And Fixtures 155 Loan & Advances to Directors 156 Name of the Directors/Sponsors and the entities in which they have interest 157 Name of the Directors and their Shareholdings 161 Highlights 163 Financial Statements of Standard Exchange Company (UK) Limited 164 Company Information 165 Directors’ Report 166 Accountants’ Report on the Financial Statements 167 Profit and Loss Account 168 Balance Sheet 169 Director’s Statements Required by Section 415 for the year ended 31st December 2011 170 Notes to the Accounts 171 Detailed Profit and Loss Accounts 173 Standard Co (USA) Inc. D/B/A: Standard Express 174 Company Information 175 Directors’ Report 176 Certified Public Accountant 177 Balance Sheet 178 Director’s Statements Required by Section 415 for the year ended 31st December 2011 179 Profit and Loss Account 180 Notes to the Accounts 181 Detailed Profit and Loss Accounts 184 Proxy Form 185 Registered Office Metropolition Chamber Building (3rd Floor) 122-124 Motijheel Commercial Area Dhaka-1000, Bangladesh. Phone : 7175698, 7169134, 9560299, 9558375 Tele. Fax : 7176367, 7169078 E-mail : [email protected] Website : www.standardbankbd.com SWIFT : SDBLBDDH Our Vision To be a modern Bank having the object of building a sound national economy and to contribute significantly to the Public Exchequer. Our Mission To be the best private commercial bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability. Our Core Values Our Shareholders: By ensuring fair return on their investment through generating stable profit. Our customer: To become most caring bank by providing the most courteous and efficient service in every area of our business. Our employee: By promoting the well being of the members of the staff. Community: Assuring our socially responsible corporate entity in a tangible manner through close adherence to national policies and objectives. Board of Directors Chairman Ln. Kazi Akramuddin Ahmed Vice Chairman Al-Haj Mohammad Yousuf Chowdhury Directors Mr. Kamal Mostafa Chowdhury Mr. Mohammad Nurul Islam Mr. Ashok Kumar Saha Mr. Ferozur Rahman Mr. Harun Rashid Chowdhury (upto 06. 08. 2011) Mr. Mohammad Monzurul Alam Mr. S A M Hossain Mr. Mohammed Abdul Aziz Al-Haj Mohammed Shamsul Alam Mr. Abdul Ahad Mr. Md. Zahedul Hoque Mr. Harun or Rashid (upto 02. 10. 2011) Mr. Ferdous Ali Khan Mr. Moshfeque Mamun Rizvi ICB represented by the Managing Director Mr. Md. Fayekuzzaman Mr. Shaikh Mesbauddin Mr. S.S. Nizamuddin Ahmed, Independent Director Managing Director & CEO Mr. S.A. Farooqui Group Company Secretary Mr. A.F.M. Nizamul Islam Chowdhury 2 t STANDARD BANK LIMITED ANNUAL REPORT 2011 Executive Committee Mr. S.A.M. Hossain Chairman Mr. Kamal Mostafa Chowdhury Member Mr. Md. Nurul Islam Member Mr. Ferozur Rahman Member Mr. Md. Ferdous Ali Khan Member Mr. Sheikh Mesba Uddin Member Mr. S.A. Farooqui, Managing Director Ex-officio Member Mr. A.F.M. Nizamul Islam Chowdhury Secretary Audit Committee Mr. S.S. Nizamuddin Ahemd Chairman Mr. Md. Zahedul Hoque Member Mr. Mushfeque Mamun Rizvi Member Mr. Md. Fayekuzzaman, MD, ICB Member Mr. A.F.M. Nizamul Islam Chowdhury Secretary Green Banking Committee Mr. Mohammed Abdul Aziz Chairman Mr. Ashok Kumar Saha Member Al-haj Mohammed Shamsul Alam Member Mr. Abdul Ahad Member Mr. S.A. Farooqui, Managing Director Ex-Officio Member Mr. Syed Mohammad Masum Secretary Shariah Supervisory Committee Janab Kazi Akram Uddin Ahmed Chairman Chairman of the Bank Janab Prof. Mowlana Mohammad Salauddin Member Khatib, Baitul Mukarram National Mosque Janab Hafiz Kazi Muhammad Ibrahim Member Head Mohaddis (Hadits Dept) Jameah Qasemiah Kamil Madrasha, Narsinghdi Janab Kazi Khurram Ahmed Member Janab S. A. Farooquir Ex-Officio Member Managing Director of the Bank Mr. A.F.M Nizamul Islam Chowdhury Secretary STANDARD BANK LIMITED u 3 Board of Directors Ln. Kazi Akramuddin Ahmed Chairman Al-Haj Md. Yousuf Chowdhury Vice Chairman Kamal Mostafa Chowdhury Mohammad Nurul Islam Ashok Kumar Saha Ferozur Rahman Director Director Director Director Harun Rashid Chowdhury Md. Monzurul Alam S. A. M. Hossain Mohammed Abdul Aziz Director (upto 06. 08. 2011) Director Director Director 4 t STANDARD BANK LIMITED ANNUAL REPORT 2011 Al-Haj Md. Shamsul Alam Abdul Ahad Md. Zahedul Haque Harun-Or-Rashid Director Director Director Director (upto 02. 10. 2011) Ferdous Ali Khan Moshfeque Mamun Rizvi Md. Fayekuzzaman Shaikh Mesba Uddin Director Director Director Director S. S. Nizamuddin Ahmed S. A. Farooqui Independent Director Managing Director & CEO STANDARD BANK LIMITED u 5 Corporate Information Name of the Company : Standard Bank Limited Chairman of the Bank : Ln. Kazi Akramuddin Ahmed Legal Form : A public limited company incorporated in Bangladesh on 11th May, 1999 under the Companies Act 1994, Subsequently listed in Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited. Commencement of business : 3rd June, 1999 Registered Office : Metropolitan Chamber Building (3rd floor) 122-124, Motijheel C/A, Dhaka-1000. Telephone : +880 2 7175698, 7169134, 9560299, 9558375 Telefax : +880 2 7176367, 7169078 SWIFT Code : SDBLBDDH E-mail : [email protected] Web Page : www.standardbankbd.com Auditors : Khan Wahab Shafique Rahman & Co. Chartered Accountants Legal Advisor : Mr. M. Ziaul Hasan Barrister-at-Law M/s. Hasan & Associates Tax Consultants : Alhaj Md. Serajul Islam Advocate & Tax Consultant Managing Director & CEO : S. A. Farooqui Additional Managing Director : Md. Nazmus Salehin Deputy Managing Director : i. Md. Alauddin Al-Azad II. Md. Abul Hossain Group Company Secretary : A. F. M. Nizamul Islam Chowdhury 6 t STANDARD BANK LIMITED ANNUAL REPORT 2011 Management Team Mr. S.A. Farooqui Mr. Md. Shahabuddin Chisti Managing Director & CEO Mr. Muhammad Ali Mr. A F M Quamrul Hasan Mr. Md. Nazmus Salehin Mr. Probir Kumar Bhowmick Additional Managing Director Ms. Quamrun Nahar Hasmi Mr. Md. Alauddin Al Azad Asst. Vice President Deputy Managing Director Mrs. Rebeka Sultana Mr. Haradhan Chandra Chakraborty Mr. Md. Abul Hossain Mr. Md. Mabzulul Bari Deputy Managing Director Mr. Md. Zahangir Alam Mr. Md. Shafiqul Hassan Group Company Secretary Mr. T M Nurul Islam Talukder Mr. A F M Nizamul Islam Chowdhury Mr. Syed Mosnoon Ali Mrs. Rubina Khan Executive Vice President Mr. Md. Tajul Islam Chowdhury Mr. Mufakhkharul Islam Mr. Rahim Khan Mr. Syed Mohammad Masum Mr. Md. Emdadul Hassan Mr. Md. Nazrul Islam Mr. Md. Rafiqul Islam Mr. Md. Ibrahim Khalil Sr. Vice President Mr. Mamun Abdur Raschid Mrs. Syeda Khaleda Begum Mr. S. M. Nazrul Islam Ms. Haider Nurun Naher Mr. Humayun Kabir Mr. A.M.M. Lasker Mr. Sheikh Lutfar Rahman Mr. Sheikh Abu Ahmed Mr. A.K.M. Manjur Alam Mr. Kazi Md. Talha Mr. Kazi Mohidur Rahman Mr. Md. Nurus Safa Mr. Md. Abu Hena Nazimuddin Mr. Mohammad Ali Mr. Md. Mahbubur Razzak Mr. Naim Md. Abdur Rashid Mr. Md. Ekramul Haque Mr. Muhammad Sakhawatur Rahman Mr. Md. Zakir hossain Mr. Mohammad Abdul Wali Mr. Prabir Ranjan Das Mr. Md. Abdus Salam Vice President Mr. Md. Nurul Islam Mr. H A Z M Mahegir Mr. Ashek Abedin Mr. Md. Gaznafar Ali Mr. Kanchan Kumar Dey Mr. Nasir Ahmed Mr. Md. Anwar Hossain Mr. Syed Anisur Rahman Mr. Md. Nayeem Chowdhury Mr. Mohammad Abdul Qaium Khan Mr. Md. Farhad Hussain Mr. Md. Abu Sayed Mr. Parvez Mahfuz Mr. Md. Nurul Islam Mr. Md. Golam Mawla Mr. A.H.M. Manzur Quader Khan Md. Abdul Mannan Mr. Md. Saiful Islam Khan Mr. Md. Saiful Islam Mr. Mesbah Ul Alam Sr. Asst. Vice President Mr. Md. Sanaullah Mr. Mohammad Shohrab Hossain Mr. Md. Zakirul Islam Mr. Mohammad Faisal Mr. Md. Rezaul Karim Mr. Md. Ataur Rahman Mr. Kazi Zahirul Haque Mr. Munshi Golam Rahman Mrs. Arjoomand Begum Mr. Md. Rezaul Hoque Mr. S.M. Mizanur Rahman Mr. S. M. Amir Hossain Mr. Md. Golam Mostafa Mr. Masudur Rahman Mr. Md. Suruj Ali Mr. Md. Alhaj Ullah STANDARD BANK LIMITED u 7 Group Corporate Structure 8 t STANDARD BANK LIMITED ANNUAL REPORT 2011 Head Office and Branch Network Head Office Head Office (Annex Building) Metropoliton Chamber Building (3rd Floor) 28, Bengal Centre (8th Floor) Standard Bank Ltd. 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