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Engaging Tomorrow Today The 21st century is thriving towards a remarkable future. That’s why today makes us Engaging to have sustainable, exciting, actionable and popular alternative long-term futures. Engaging tomorrow today co-creates strategy transformation. We at Dhaka Bank re-engineered training and provide strategic visions, policies, strategies, innovative products and recruit right human resources. We work in areas of social planning, infrastructure, environment and economic strategy, organizational planning, and nation futures. Engaging today facilitates our understanding of tomorrow, and helps us transform today. As technological innovations flourish in all corners of the industry, opportunities for our human growing arguably, never been greater or more diverse than they are today. Bangladesh being a quickly emerging proving grounds for new technologies such as 4G connections, nuclear power, metro, automation in agriculture it’s not hard to spot the technical revolution which is taking place that also have become more integrated into our daily lives. By integrating experiential learning and offering a wide array of opportunities for co-op work placements in working with regional, national and international level, Dhaka Bank have shown a knack for generating real-world impacts. Dhaka Bank’s Annual Report of 2017 reflects its engaging eco-system. LETTER OF TRANSMITTAL All Shareholders of Dhaka Bank Limited Letter of Transmittal 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, 2017 We are pleased to enclose 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, 2017 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. Best regards, Yours truly, Arham Masudul Huq Company Secretary www.dhakabankltd.com Dhaka Bank Limited Annual Report 2017 1 CONTENTS Contents About Us Shareholders’ Information 2017 Performance Highlights - The Bank 04 Distribution of Shareholdings 37 Bank’s Profile 05 Financial Calendar 37 1 Milestones 07 2 Dividends & Stock Details 37 2017 Results Summary 08 Information Sensitive to Share Price 38 Vision, Mission & Corporate Values 09 Market Price Information 38 Strategic Objectives & Ethical Principles 10 Redressal of Investors’ Complaints 39 Customer Charter 11 5-Year Financial Highlights 40 Our Strength & Our Confidence 11 Economic Impact Report 42 Our Story 13 Market Value Added Statement 43 Board of Directors and Committees of the Board 14 5-Year Essential Performance Graphs-Bank 44 Sponsor Shareholders 18 Glimpses of 22nd AGM 49 Chronicle of a Rare Visionary 19 Directors’ Profile 20 Directors’ Report Chairman’s Statement 26 Global Economic Situation 51 Strategic Review of the Managing Director & CEO 29 Bangladesh Economy 53 Report of the Audit Committee of the Board 32 3 Highlights of Financial Performance 56 Report of the Shari’ah Supervisory Committee 34 Summary of Segmented Performance 57 Dhaka Bank Management Committee 35 Business and Operational Highlights 60 Meeting & Business Review 61 AGM & Dividend 62 Way Forward 2018 62 Goals Set for 2018 62 cwiPvjKM‡Yi cÖwZ‡e`b 2017 64 2 Dhaka Bank Limited Annual Report 2017 www.dhakabankltd.com Compliance Report on BSEC's Notification Contents Compliance Report on BSEC's Notification 66 Certificate on Compliance of Conditions of Corporate Governance 74 4 CEO’s & CFO’s Declaration to the Board of Directors 75 Sustainability SME Banking 77 Green Banking 80 5 Corporate Social Responsibility (CSR) 81 Management Discussion & Analysis Corporate Banking 85 Syndications and Structured Finance Unit 86 6 Business Operations 88 Asset-Liability Management (ALM) 92 Human Resources (HR) 92 Information Technology (IT) 93 Internal Control System 94 Research & Development (R&D) 95 Islamic Banking 96 Retail Business 100 Off-Shore Banking 100 International Division 101 Dhaka Bank Training Institute (DBTI) 102 Communications & Branding 105 RMG Financing 105 Risk Management Dhaka Bank Securities Limited Risk Management of Dhaka Bank Limited 108 Report of the Board of Directors 122 7 BASEL III 118 8 Auditor's Report & Audited Financial Statements Independent Auditor’s Report 126 Consolidated Financial Statements 128 9 Dhaka Bank Financial Statements 134 Financial Statements of Islamic Banking 203 Financial Statements of Off-Shore Banking Unit 214 Financial Statements of Dhaka Bank Securities Limited 227 Financial Statements of Dhaka Bank Investment Limited 243 Disclosures On Risk Based Capital 249 Notice of the 23rd AGM 263 10 www.dhakabankltd.com Dhaka Bank Limited Annual Report 2017 3 2017 PERFORMANCE HIGHLIGHTS – THE BANK Core Business Growth Amount in Taka About Us Operating Profit Assets Loans & Advances 5,205 M (4%) 229 Bn 13% 154 Bn 14% Deposits Shareholders’ Equity Paid-up Capital 170 Bn 8% 15 Bn 7% 7.2 Bn 4% Inward Export Earnings Per Remittance (21%) 103 Bn 17% Share stood at Tk. 2.07 11 Bn NPL Ratio Classified Loans Capital to Risk increased to 5.98% 9,209 M 70% Weighted Assets 11.96% Ratio (CRAR) stood at 2017 Performance Highlights – The Bank 2017 Performance Highlights – Financial Inclusion Growth (direct & indirect) Total Delivery Total Customers’ ADCs Channels Accounts 76 3% 182 6% 507,586 10% SME SME Financing Woman Entrepreneur Customers 26.79 Bn Finance 7,342 16% 25% 440 M 246% No. of Women Agri Loan disbursed Total Online Banking Entrepreneurs (Fiscal 2016-17) Accounts 98 53% 2,505 M 15% 507,586 10% Mobile/SMS Banking Accounts 295,530 74% 4 Dhaka Bank Limited Annual Report 2017 www.dhakabankltd.com BANK’S PROFILE About the Bank up capital adequacy as per Basel-III requirement, the Bank issued BDT About Us Dhaka Bank Limited is the brainchild of a host of committed 3,000,000,000 Non Convertible Subordinated Bond in 2016, with consent entrepreneurs and farsighted dreamers of banking excellence. of BSEC vide letter no. BSEC/CI/DS-34/2015/643 dated 28.12.2015 Established in July 5, 1995, the Bank is now an admired provider of and subsequently approved by Bangladesh Bank vide letter no. financial services and has positioned itself as a strong brand in the BRPD(BFIS)661/14B(P)2016-2474 dated April 17, 2016 to strengthen mind of customers. ‘Excellence in Banking’ is our motto and to become the capital base in line with the newly introduced Capital Adequacy the best performing bank in the country is our mission. As a leading Guidelines under BASEL-III Accord. As a result, DBL’s regulatory capital private commercial bank in Bangladesh, our eminence is backed by as on December 31, 2017 stood at Tk. 21,884.29 million, whereas, the quality products and services, superior technology and highly motivated Capital Adequacy Ratio (CAR) was 11.96% under Basel-III, as per Central personnel to realize your dream. We are recognized for our good Bank’s minimum capital requirement of 11.25%. governance practices, compliance with regulatory guidelines, flexibility to The concept of economic capital has come up to act as a safety cushion growing needs and adaptability to the changing world. for the bank, particularly in the wake of the global credit crisis. Year 2017 still saw the effect of unanticipated losses of banks from credit risks and Our strategy & achievement extent of market volatility. Under such a market it becomes imperative Bank’s Profile Bank’s Customer centricity is our main strategic focus. The ultimate goal is to to manage the banking business in a risk-sensitive economic capital maximize investors’ wealth by running business efficiently and ethically. framework. So we are carefully considering the potential unexpected To protect investors’ interest, the Bank constantly pursues strategies for losses and thus, bringing up the concept of economic capital that is sustainable growth and wider financial integration. Key businesses are 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 Financial Administration and so forth. Moreover, the Bank group has in different sectors such as, education, health, disaster management, two subsidiaries namely Dhaka Bank Securities Limited to look after sports and some other sectors having national priority. Significant capital market and brokerage service
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