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Half-Yearly Financial Statements 2020

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Half-Yearly Financial Statements 2020 DUTCH - BANGLA BANK LIMITED AUDITED FINANCIAL STATEMENTS For the half year ended 30 June 2020 Dutch-Bangla Bank Limited Balance Sheet As at 30 June 2020 PROPERTY AND ASSETS Notes 30-Jun-20 31-Dec-19 30-Jun-19 Taka (Audited) Taka (Audited) Taka (Un-audited) Cash In hand (including foreign currencies) 4 11,959,414,282 16,437,855,873 16,075,152,337 Balance with Bangladesh Bank and its agent bank (s) (including foreign currencies) 5 35,737,957,862 25,555,947,901 25,822,262,193 47,697,372,144 41,993,803,774 41,897,414,530 Balance with other banks and financial institutions 6 In Bangladesh 13,098,727,691 9,664,575,867 13,944,252,262 Outside Bangladesh (340,212,000) 722,463,012 1,469,035,622 12,758,515,691 10,387,038,879 15,413,287,884 Money at call on short notice 7 6,240,000,000 - - Investments 8 Government 71,627,544,688 52,193,468,169 34,968,915,113 Others 2,911,283,434 2,911,283,434 1,411,283,434 74,538,828,122 55,104,751,603 36,380,198,547 Loans and advances 9 Loans, cash credits, overdrafts, etc. 247,793,734,217 239,209,515,963 227,954,046,262 Bills purchased and discounted 13,125,882,261 17,030,193,242 18,563,793,946 - - 260,919,616,478 256,239,709,205 246,517,840,208 Fixed assets including land, building, furniture and fixtures 10 5,327,063,351 5,380,606,143 5,590,896,571 Other assets 11 24,805,195,588 21,256,136,196 22,897,188,729 Non-banking assets - - - TOTAL ASSETS 432,286,591,374 390,362,045,800 368,696,826,469 LIABILITIES AND CAPITAL Liabilities Borrowings from other banks, financial institutions and agents 12 23,437,673,355 18,919,504,632 17,180,330,060 Deposits and other accounts 13 Current deposits and other accounts 75,295,271,976 66,320,230,637 63,027,310,534 Bills payable 5,595,834,955 4,332,131,895 5,477,265,043 Savings bank deposits 159,591,804,504 145,754,017,061 138,097,536,368 Term deposits 94,036,310,302 85,752,836,476 79,827,085,029 334,519,221,737 302,159,216,069 286,429,196,974 Other liabilities 14 35,745,041,906 31,309,357,448 29,052,709,061 Subordinated debt 15 9,000,000,000 10,530,625,000 11,049,687,500 TOTAL LIABILITIES 402,701,936,998 362,918,703,149 343,711,923,595 Shareholders' equity Paid up share capital 16.2 5,000,000,000 5,000,000,000 5,000,000,000 Share premium 17 11,067,500 11,067,500 11,067,500 Statutory reserve 18 9,193,048,174 9,193,048,174 9,193,048,174 Other reserve 19 - - - Dividend equalization account 20 1,766,827,195 1,766,827,195 1,766,827,195 Assets revaluation reserve 21 850,413,777 850,413,777 850,413,777 Revaluation reserve of HTM securities 22 9,593,766 32,340,447 2,009,455 Proposed dividend - - - Retained earnings 24 12,753,703,964 10,589,645,558 8,161,536,773 TOTAL SHAREHOLDERS' EQUITY 29,584,654,376 27,443,342,651 24,984,902,874 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 432,286,591,374 390,362,045,800 368,696,826,469 Page 9 30-Jun-20 31-Dec-19 30-Jun-19 Notes Taka (Audited) Taka (Audited) Taka (Un-audited) OFF-BALANCE SHEET ITEMS Contingent liabilities 23 Acceptances and endorsements 39,708,201,361 38,508,239,854 36,735,582,239 Letters of guarantee 6,270,604,488 6,271,259,411 6,267,385,876 Irrevocable letters of credit 16,872,132,265 27,076,256,191 24,381,539,169 Bills for collection - - - Other contingent liabilities 2,621,793,964 3,451,670,075 4,367,661,368 Total contingent liabilities 65,472,732,078 75,307,425,531 71,752,168,652 Other commitments Documentary credits and short term trade-related transactions - - - Forward assets purchased and forward deposits placed - - - Undrawn note issuance and revolving underwriting facilities - - - Undrawn formal standby facilities, credit lines and other commitments - - - Total other commitments - - - Total off-balance sheet items including contingent liabilities 65,472,732,078 75,307,425,531 71,752,168,652 Net Asset Value (NAV) Per Share 59.17 54.89 49.97 The annexed notes 1 to 48 form an integral part of these financial statements. _______________ ____________ ____________ ____________________________ Chairman Director Director Managing Director & CEO Auditors' report to the Board of Directors' See annexed report of date __________________________ Hoda Vasi Chowdhury & Co. Chartered Accountants Dhaka, 28 July 2020 Page 10 Dutch-Bangla Bank Limited Profit and Loss Account For the Second Quarter (Q2) ended 30 June 2020 For the Second Quarter (Q2) ended 30 June For the quarter ended 30 June Notes (January - June) (March-June) 2020 2019 2020 2019 Taka Taka Taka Taka Interest income 26 11,397,281,079 12,256,153,977 5,320,587,049 6,413,792,748 Interest paid on deposits and borrowings etc. 27 4,513,303,669 3,640,480,108 2,587,925,413 1,821,343,235 Net interest income 6,883,977,410 8,615,673,869 2,732,661,635 4,592,449,513 Investment income 28 3,276,624,733 1,392,887,878 2,011,105,814 757,688,414 Commission, exchange and brokerage 29 941,979,129 986,642,202 533,814,827 410,158,591 Other operating income 30 1,558,253,213 1,970,839,417 769,258,873 1,029,957,510 Total operating income 12,660,834,485 12,966,043,366 6,046,841,149 6,790,254,029 Salary and allowances 32 2,681,509,638 2,280,483,329 1,296,897,304 1,208,783,907 Rent, taxes, insurance, electricity, etc. 34 1,167,416,723 1,015,725,028 596,967,983 547,070,742 Legal expenses 35 683,157 1,261,247 12,021 691,586 Postage, stamp, telecommunications, etc. 36 186,784,225 167,757,974 97,384,525 81,127,707 Stationery, printings, advertisements, etc. 37 284,987,292 351,769,572 73,123,095 160,662,957 Managing Director & CEO's salary and allowances 38 7,280,000 5,248,000 4,040,000 3,139,000 Directors' fees 39 59,700 40,885 26,000 4,940 Auditors' fees 40 246,000 430,500 100,000 196,250 Depreciation and repair of bank's assets 41 1,071,497,221 1,094,711,190 532,006,302 537,757,807 Other expenses 42 3,243,059,881 3,145,047,876 1,458,835,141 1,675,073,290 Total operating expenses 8,643,523,837 8,062,475,601 4,059,392,369 4,214,508,186 Profit before provision 4,017,310,648 4,903,567,765 1,987,448,780 2,575,745,842 Provision for loans and off-balance sheet exposures 14.1.3 Specific provision for loans 14.1.3.A 399,872,426 1,511,255,866 (26,282) 262,507,752 General provision for loans 14.1.3.B (9,277,899) 176,200,000 (20,394,302) 118,700,000 General provision for off-balance sheet exposures 14.1.3.C (98,346,934) (84,682,786) (169,777,084) (146,079,205) 292,247,593 1,602,773,080 (190,197,668) 235,128,547 Other provision 14.1.1 - - - - Total provision 292,247,593 1,602,773,080 (190,197,668) 235,128,547 Profit before taxes 3,725,063,055 3,300,794,685 2,177,646,449 2,340,617,295 Provision for taxation Current tax 14.1.2 1,669,063,768 1,102,420,994 804,300,027 1,055,208,367 Deferred tax 11.2.2 (108,059,119) 285,094,716 (35,854,502) (154,064,799) 1,561,004,649 1,387,515,710 768,445,525 901,143,568 Net profit after taxation 2,164,058,406 1,913,278,975 1,409,200,924 1,439,473,727 Appropriations Statutory reserve 18 - - - - Retained surplus to retained earnings 2,164,058,406 1,913,278,975 1,409,200,924 1,439,473,727 Earnings per share (EPS) 24.2 4.33 3.83 2.82 2.88 The annexed notes 1 to 48 form an integral part of these financial statements. _____________ _____________ _____________ _________________________ Chairman Director Director Managing Director & CEO Auditors' report to the Board of Directors' See annexed report of date __________________________ Hoda Vasi Chowdhury & Co. Chartered Accountants Dhaka, 28 July 2020 Page 3 Dutch-Bangla Bank Limited Cash Flow Statement For the Second Quarter (Q2) ended 30 June 2020 Notes 30-Jun-20 30-Jun-19 Taka Taka A) Cash flows from operating activities Interest receipts in cash 12,574,665,581 13,501,383,365 Interest payments (4,530,311,095) (3,771,632,969) Dividend receipts in cash 5,711,803 5,711,803 Gain on sale of shares - - Gain on sale of securities - - Recoveries of loan previously written-off 127,574 185,080 Fee and commission receipts in cash 338,467,201 365,035,698 Cash payments to employees (2,606,715,030) (2,439,043,185) Cash payments to suppliers (2,532,028,596) (1,788,097,713) Income taxes paid (2,160,018,117) (1,868,876,367) Receipts from other operating activities 43 2,150,859,707 2,574,024,574 Payments for other operating activities 44 (2,358,472,575) (3,193,095,241) Operating profit before changes in operating assets and liabilities 882,286,453 3,385,595,045 Increase/(decrease) in operating assets and liabilities Statutory deposits - - Purchase /sale of trading securities (17,583,222,529) (1,933,000,000) Loans and advances to other banks - - Loans and advances to customers (2,614,460,907) (17,144,034,045) Other assets 45 (666,596,670) (1,523,492,418) Deposits from other banks (55,163,859) (2,249,568) Deposits from customers 32,379,942,123 23,941,269,045 Other liabilities account of customers 4,653,579,774 (7,804,277,958) Other liabilities 46 1,461,024,299 (166,788,932) Net cash from operating activities 18,457,388,686 (1,246,978,830) B) Cash flows from investing activities Payments for purchase of securities (40,979,431,346) (17,119,171,355) Proceeds from sale of securities 39,130,976,156 14,875,544,373 Purchase of property, plant and equipment (639,304,012) (535,095,417) Sale proceeds of property, plant and equipment 13,321,347 25,307,432 Net cash used in investing activities (2,474,437,855) (2,753,414,967) C) Cash flows from financing activities Receipts from issue of loan capital and debt securities - - Payment for redemption of loan capital and debt securities (1,530,625,000) (523,437,500) Dividends paid (345) (415,003,576) Net cash from financing activities (1,530,625,345) (938,441,076) D) Net increase / (decrease) in cash (A+B+C) 14,452,325,486
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