Annual Report-2020
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Letter of Transmittal All Shareholders, Bangladesh Bank, Bangladesh Securities and Exchange Commission, Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited. Subject: Annual Report for the year ended December 31, 2020 Dear Sir(s), We are delighted to enclose a copy of the Annual Report 2020 together with the audited Financial Statements as at the position of December 31, 2020. The report includes Income Statements, Cash Flow Statements along with notes thereon of Uttara Bank Limited and its subsidiaries namely “ Uttara Bank Securities Limited ” and “UB Capital & Investment Limited”. This is for your kind information and record please. Best regards, Yours sincerely, Iftekhar Zaman Executive General Manager & Secretary CONTENTS Notice of the 38th Annual General Meeting 4 Corporate Information 5 Highlights of 37th Annual General Meeting 6 Board of Directors 7 Executive Committee, Audit Committee & Risk Management Committee 8 SMT, ERMC & ALCO 9 Directors’ Profiles 10 Message from the Chairman 18 Message from the Vice Chairman 20 Message from the Managing Director & CEO 22 CEO and CFO’s declaration to the Board 25 Report of the Audit Committee 26 Photo Album 28 Some activities of Uttara Bank Limited 30 Name of the Executives 34 Directors’ Report 35 Five years at a Glance 72 Corporate Governance 74 Certificate on compliance status of Corporate Governance Guidelines of BSEC 75 Report on Risk Management 85 Report on Green Banking 108 Report on Corporate Social Responsibility 110 Credit Rating Report (Surveillance) 112 Auditors’ Report 114 Consolidated Financial Statements 120 Financial Statements: Uttara Bank Limited 126 Notes to the Financial Statements 132 Highlights on overall activities of the Bank 186 Annexures 187 Financial Statements: Off-Shore Banking Unit 192 Value Added Statement 200 Economic Value added Statement 201 Market Value Addition Statement 202 Auditors Report to the Shareholders of Uttara Bank Securities Ltd. 204 Financial Statements of Uttara Bank Securities Ltd. 207 Auditors Report to the Shareholders of UB Capital and Investment Ltd. 226 Financial Statements of UB Capital and investment Ltd. 229 List of the Branches under different Zones 238 List of Foreign Correspondents 240 Disclosures on Risk Based Capital (Basel –III) 246 Map of the Bangladesh showing the Branches-District wise 265 List of Branches Authorized to handle Foreign Exchange 266 DËiv e¨vsK wjwg‡UW †iwR÷vW© I †nW Awdm 47, knx` exi DËg AvkdvKzm mvgv` moK gwZwSj evwYwR¨K GjvKv, XvKv- 1000 38Zg evwl©K mvaviY mfvi †bvwUk GB g‡g© †bvwUk †`qv hv‡”Q †h, DËiv e¨vsK wjwg‡UW Gi 38Zg evwl©K mvaviY mfv AvMvgx 27‡k †g, 2021 †ivR 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Ab¨_vq cÖvc¨ jf¨vsk †kqvi‡nvìviM‡Yi wnmv‡e †µwWU Kiv n‡e| 4 CORPORATE INFORMATION Name of the Company : Uttara Bank Limited Legal Form : Uttara Bank Limited had been a nationalized bank in the name of Uttara Bank under the Bangladesh Bank (Nationalization) Order 1972, formerly known as the Eastern Banking Corporation Limited which started functioning on and from 28 January 1965. Consequent upon the amendment of Bangladesh Bank (Nationalization) Order 1972, the Uttara Bank was converted into Uttara Bank Limited as a public limited company in the year 1983. The Uttara Bank Limited was incorporated as a banking company on 29 June 1983 and obtained business commencement certificate on 21 August 1983. The Bank floated its shares in the year 1984. It has 241 branches all over Bangladesh through which it carries out all its banking activities. The Bank is listed in the Dhaka Stock Exchange Limited and the Chittagong Stock Exchange Limited as a listed company for trading of its shares. Registered Office : 47, Shahid Bir Uttam Asfaqus Samad Sarak (Former 90, Motijheel Commercial Area) Motijheel Commercial Area, Dhaka-1000, Bangladesh. GPO Box: 818 & 217 Telephone : PABX No. 9551162 Tele-fax : 88-02-7168376, 88-02-9553081, 88-02-9560820 & 88-02-9568941 Swift Code : UTBLBDDH Email : [email protected], [email protected], [email protected], [email protected] Website : www.uttarabank-bd.com Chairman : Mr. Azharul Islam Vice Chairman : Mr. Iftekharul Islam Managing Director & CEO : Mr. Mohammed Rabiul Hossain Company Secretary : Mr. Iftekhar Zaman Chief Financial Officer (CFO) : Mr. Md. Golam Mustafa, FCA Date of Appointment: 15.11.2010 Chief Information Technology Officer (CITO): Mr. Md. Rafiul Islam Date of Appointment: 26.08.2008 5 Highlights of Extra Ordinary General Meeting th & 37 Annual General Meeting . The Directors attending the Extra Ordinary General Meeting and the 37th Annual General Meeting virtually. 6 Board of Directors Mr. Azharul Islam - Chairman Mr. Iftekharul Islam - Vice-Chairman Members Mrs. Badrunnesa Sharmin Islam - Director (Nominated by Wealthmax Asset Management Ltd.) Mr. Arif Rahman - Director Mr. Asif Rahman - Director Mr. Kazi Masudur Rageb - Director Mr. Waliul Huq Khandker - Independent Director Col. Engr. M. S. Kamal (Retd.) - Director (Nominated by Blue Sky Asset Management Ltd.) Mr. Wasiful Hoq - Director (Nominated by Sadharan Bima Corporation.) Mr. Shaikh Abdul Aziz - Director (Nominated by Sunflower Asset Management Ltd.) Mr. Abul Barq Alvi - Director (Nominated by Corporate Stategic Capital Ltd.) Mr. Md. Shahiduzzaman - Director (Nominated by Smart Corporate Solution Ltd.) Professor Iqbal Ahmad - Independent Director Mr. Mohammed Rabiul Hossain - Managing Director & CEO Secretary Mr. Iftekhar Zaman 7 Executive Committee Mr. Azharul Islam - Chairman Mr. Iftekharul Islam - Vice-Chairman Mr. Asif Rahman - Member Mr. Kazi Masudur Rageb - Member Mr. Abul Barq Alvi - Member Col. Engr. M. S. Kamal (Retd.) - Member Mr. Mohammed Rabiul Hossain - Member (Managing director & CEO) Mr.