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Annual Report 2018 Prime Bank ANNUAL REPORT Prime Bank Prime Bank 2018 Prime Bank Prime Bank PrimePrime BBank Prime Bank Prime BBankank Prime B Prime Bank Prime Bank Prime Bank Prime B LETTER OF TRANSMITTAL To The Shareholders, Bangladesh Bank, Bangladesh Securities and Exchange Commission, Registrar of Joint Stock Companies & Firms, Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited Dear Sir(s), Subject: Annual Report - 2018 We forward herewith Annual Report-2018 of Prime Bank Limited and its Subsidiaries namely Prime Exchange Co. Pte. Limited, Singapore, PBL Exchange (UK) Limited, PBL Finance (Hong Kong) Limited, Prime Bank Investment Limited, Prime Bank Securities Limited and the dedicated CSR Wing of the Bank, Prime Bank Foundation. The Report includes Audited Financial Statements, Balance Sheet, Profit and Loss Account, Changes in Equity, Cash Flow Statement along with notes thereto on the position of the bank at the closing of businesses on 31st December 2018 for your kind perusal and record please. Yours sincerely, Mohammed Ehsan Habib Company Secretary ANNUAL REPORT 2018 CONTENTS General Information Risk Management Financial Statements of Islamic Financial Statements of PBL Exchange Banking Branches (UK) Ltd. Vision, Mission & Core Values 5 Risk Management Framework & Forward Looking Statement 6 Mitigation Methodology 129 Balance Sheet 313 Independent Auditors' Report Corporate Proile 8 Market Discipline Disclosure on Proit and Loss Account 315 to the Members of PBL Exchange (UK) Ltd. 414 Five Years’ Financial Summary 10 Risk Based Capital (Basel-III) 141 Cash Flow Statement 316 Proit and Loss Account 416 PBL Milestones 12 Statement of Changes in Equity 317 Balance Sheet 418 Awards and Recognitions 14 Sustainability Analysis Notes to the Financial Statements 318 Statement of Changes in Equity 419 Strategic Priorities 16 Statement of Cash Flow 420 Sustainability Report 170 Group Structure 17 Financial Statements of O-shore Banking Units Notes to the Financial Statements 421 Social Responsibility Initiatives 172 PBL Organogram 18 Report on Prime Bank Foundation 173 Balance Sheet 332 Corporate Philosophy 19 Financial Statements of PBL Finance Green Banking Report 193 Proit and Loss Account 334 Corporate Culture 196 (Hong Kong) Ltd. Board of Directors & Management Proile Cash Flow Statement 335 Capital Plan 197 Notes to the Financial Statements 336 Independent Auditors' Report to the Members Composition of Board and its Committees 21 Environmental & Social Initiatives 198 of PBL Finance (Hong Kong) Ltd. 427 Directors‘ Proile 22 Financial Statements of Prime Bank Statement of Income and Retained Earnings 429 Senior Management & Committees 31 Integrated Reporting Investment Limited Statement of Financial Position 430 List of Executives 36 Integrated Reporting 201 Notes to Statement of Cash Flows 431 Auditors' Report to the Shareholders 345 Statement of Value Added and its Distribution 215 Notes to the Financial Statements 432 Message from the Chairman and Statement of Financial Position 347 Economic Value Added Statement 215 Managing Director & CEO Statement of Proit or Loss and Market Value Added Statement 216 Financial Statements of Prime Bank Foundation Other Comprehensive Income 348 From the o¡ice of the Chairman 40 Statement of Changes in Equity 349 Independent Auditors' Report to the Shareholders' Information Managing Director & CEO's Review 43 Statement of Cash Flows 350 Members of the Foundation 439 Horizontal Analysis 218 Notes to the Financial Statements 351 Statement of Financial Position (Balance Sheet) 441 Corporate Governance Vertical Analysis 219 Statement of Proit or Loss and other Comprehensive Directors' Report 48 Graphical Presentation 220 Financial Statements of Prime Bank Income (Income and Expenditure Statement) 442 Corporate Governance Report 61 Distribution of Shareholdings 222 Securities Limited Receipts and Payments Statement 443 Certiicate on Corporate Governance 69 Shares held by Directors 222 Auditors' Report to the Shareholders 369 BSEC Checklist on Corporate Governance 70 Market Price Information 223 Supplementary Information Statement of Financial Position 371 Statement of the Board of Directors 81 Financial Calendar 2018 223 Statement of Proit or Loss and Human Resource Accounting 446 Statement of the Audit Committee 83 rd Other Comprehensive Income 372 Glimpses of 23 Annual General Meeting 448 CEO & CFO’s Declaration to the Board 85 Financial Statements Statement of Changes in Equity 373 Branch Network 449 Report on Activities of the Audit Committee 86 Notable Activities During 2018 456 Independent Auditors’ Report to the Shareholders 225 Statement of Cash Flows 374 Report on Activities of the Risk Management Committee 88 Redressal of Investors Complaints 458 Consolidated Balance Sheet 230 Notes to the Financial Statements 375 CRO’s Report on Risk Management 89 Minutes of 23rd Annual General Meeting 459 Consolidated Proit and Loss Account 232 Ethics & Compliance 91 Notice of the 24th Annual General Meeting 463 Consolidated Cash Flow Statement 234 Financial Statements of Prime Exchange Co. Acronyms 464 Consolidated Statement of Changes in Equity 235 PTE. LTD., Singapore Business Review and Analysis Proxy Form 465 Balance Sheet 236 Independent Auditor's Report Management Review 95 Proit and Loss Account 238 to the Member of Prime Exchange Co. Pte. Ltd. 392 Segmental Analysis 116 Cash Flow Statement 239 Statement of Proit or Loss Report on Human Resource Management 118 Statement of Changes in Equity 240 & Other Comprehensive Income 394 Report on Non-performing Asset (NPA) 123 Notes to the Financial Statements 241 Products and Services 126 Statement of Financial Position 395 Statement of Changes in Equity 396 Statement of Cash Flows 397 Notes to the Financial Statements 398 CONTENTS General Information Risk Management Financial Statements of Islamic Financial Statements of PBL Exchange Banking Branches (UK) Ltd. Vision, Mission & Core Values 5 Risk Management Framework & Forward Looking Statement 6 Mitigation Methodology 129 Balance Sheet 313 Independent Auditors' Report Corporate Proile 8 Market Discipline Disclosure on Proit and Loss Account 315 to the Members of PBL Exchange (UK) Ltd. 414 Five Years’ Financial Summary 10 Risk Based Capital (Basel-III) 141 Cash Flow Statement 316 Proit and Loss Account 416 PBL Milestones 12 Statement of Changes in Equity 317 Balance Sheet 418 Awards and Recognitions 14 Sustainability Analysis Notes to the Financial Statements 318 Statement of Changes in Equity 419 Strategic Priorities 16 Statement of Cash Flow 420 Sustainability Report 170 Group Structure 17 Financial Statements of O-shore Banking Units Notes to the Financial Statements 421 Social Responsibility Initiatives 172 PBL Organogram 18 Report on Prime Bank Foundation 173 Balance Sheet 332 Corporate Philosophy 19 Financial Statements of PBL Finance Green Banking Report 193 Proit and Loss Account 334 Corporate Culture 196 (Hong Kong) Ltd. Board of Directors & Management Proile Cash Flow Statement 335 Capital Plan 197 Notes to the Financial Statements 336 Independent Auditors' Report to the Members Composition of Board and its Committees 21 Environmental & Social Initiatives 198 of PBL Finance (Hong Kong) Ltd. 427 Directors‘ Proile 22 Financial Statements of Prime Bank Statement of Income and Retained Earnings 429 Senior Management & Committees 31 Integrated Reporting Investment Limited Statement of Financial Position 430 List of Executives 36 Integrated Reporting 201 Notes to Statement of Cash Flows 431 Auditors' Report to the Shareholders 345 Statement of Value Added and its Distribution 215 Notes to the Financial Statements 432 Message from the Chairman and Statement of Financial Position 347 Economic Value Added Statement 215 Managing Director & CEO Statement of Proit or Loss and Market Value Added Statement 216 Financial Statements of Prime Bank Foundation Other Comprehensive Income 348 From the o¡ice of the Chairman 40 Statement of Changes in Equity 349 Independent Auditors' Report to the Shareholders' Information Managing Director & CEO's Review 43 Statement of Cash Flows 350 Members of the Foundation 439 Horizontal Analysis 218 Notes to the Financial Statements 351 Statement of Financial Position (Balance Sheet) 441 Corporate Governance Vertical Analysis 219 Statement of Proit or Loss and other Comprehensive Directors' Report 48 Graphical Presentation 220 Financial Statements of Prime Bank Income (Income and Expenditure Statement) 442 Corporate Governance Report 61 Distribution of Shareholdings 222 Securities Limited Receipts and Payments Statement 443 Certiicate on Corporate Governance 69 Shares held by Directors 222 Auditors' Report to the Shareholders 369 BSEC Checklist on Corporate Governance 70 Market Price Information 223 Supplementary Information Statement of Financial Position 371 Statement of the Board of Directors 81 Financial Calendar 2018 223 Statement of Proit or Loss and Human Resource Accounting 446 Statement of the Audit Committee 83 rd Other Comprehensive Income 372 Glimpses of 23 Annual General Meeting 448 CEO & CFO’s Declaration to the Board 85 Financial Statements Statement of Changes in Equity 373 Branch Network 449 Report on Activities of the Audit Committee 86 Notable Activities During 2018 456 Independent Auditors’ Report to the Shareholders 225 Statement of Cash Flows 374 Report on Activities of the Risk Management Committee 88 Redressal of Investors Complaints 458 Consolidated Balance Sheet 230 Notes to the Financial Statements 375 CRO’s Report on Risk Management
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