Bank Asia Inner Layout.Indd

annual report 2011 The collectiveness of excellence www.bankasia-bd.com Awards & Recognition Bank Asia’s Glorious Triumph for Best Published Accounts and Reports 2010 by ICAB and SAFA. Receiving Silver Trophy from ICAB Receiving Certifi cate of Merit from SAFA Our transparency in disclosure of information and adherence to standard accounting practices brought recognition for our valued stakeholders and also a testament to our openness and integrity 2 ANNUAL REPORT 2011 www.bankasia-bd.com Contents 4 Notice of the Thirteenth Annual General Meeting 5 Prelude 6 Vision 7 Mission 8 Core Values 9 Business Ethics 10 Codes of Conduct 11 Goals 12 Strategic Focus 13 Future Orientation 14 Bank Asia at a Glance 15 Corporate Structure 16 Two Years Comparative Analysis 17 Corporate Information 18 Products & Services 20 Key Events 2011 23 Five Years Performance 28 Value Added Statement, EVA, MVA 30 Contribution to National Exchequer 31 Du Pont Analysis 32 Market Performance 34 Sustainability Report 36 Green Banking 38 Board of Directors 40 Directors’ Profi le 43 Executive Committee of the Board 44 Board’s Audit Committee 45 Our Acknowledgement to 46 Management Committee 48 Cluster Mentors, ALCO 49 Management & Executives 51 Shariah Council 53 Chairman’s Message 59 President & Managing Director’s Review 64 Directors’ Report 94 CSR 97 Disclosure on Risk Based Capital under Pillar-3 of Basel-II 109 Report on the Activities of the Audit Committee 111 Report of the Shariah Council 112 Corporate Governance 117 Credit Rating 118 Compliance with SEC Notifi cation on Corporate Governance 120 Status of Compliance of Bangladesh Bank’s Guidelines on Corporate Governance 122 Credit Rating of proposed Zero Coupon Bond & Its Current Status 123 Chief Executive Offi cer & Chief Financial Offi cer’s statement of Responsibility 124 Chief Financial Offi cer’s Report Financials 128 Auditors’ Report to the Shareholders of Bank Asia Limited 130 Consolidated Balance Sheet 132 Consolidated Profi t & Loss Account 133 Consolidated Cash Flow Statement 134 Consolidated Statement of Changes in Equity 225 Subsidiary 1: Bank Asia Securities Limited 237 Subsidiary 2: BA Exchange Company (UK) Limited 249 Branches at a Glance 254 Subsidiaries Shareholder’s Note Proxy Form & Attendance Slip ANNUAL REPORT 2011 3 www.bankasia-bd.com Notice of the Thirteenth Annual General Meeting Notice is hereby given to all members of Bank Asia Limited (‘’the Company’’) that the Thirteenth Annual General Meeting of the members of the Company will be held on Saturday, the 31st March, 2012 at 10:30 AM at the Offi cers’ Club, 26 Baily Road, Ramna, Dhaka-1000, to transact the following business and to adopt necessary resolutions: Agenda 1. To receive, consider and adopt the Profi t and Loss Account of the Company for the year ended December 31, 2011 and the Balance Sheet as at that date together with the Reports of the Directors and the Auditors thereon. 2. To declare Dividend out of the profi ts for the year ended December 31, 2011 3. To elect Directors in accordance with the provisions of law and the Articles of Association of the Company. 4. To appoint Auditors of the Company for the term until the conclusion of the next Annual General Meeting and to fi x their remuneration. 5. To transact any other business with the permission of the Chair. By order of the Board Dated: Dhaka February 26, 2012 Aminul Islam Company Secretary Notes a) The Record date of the Company is February 29, 2012. Trading of the Company’s shares in the Stock Exchanges will remain suspended on the Record Date. b) The shareholders whose names will appear in the Register of Members of the Company as at the close of business on the Record Date will be entitled to attend and vote at the Annual General Meeting and to the dividend declared in the Meeting. c) Any member of the Company entitled to attend and vote at the meeting may appoint a proxy to attend and vote on his/her behalf. The proxy must be a member of the Company. d) The instrument appointing a proxy duly stamped and signed by the member must be submitted at the Registered Offi ce of the Company at least 48(forty eight) hours before the meeting. Proxy form is enclosed. e) Election of Directors will be held in the vacant offi ces of Directors. Election schedule will be displayed in the notice board at the Registered Offi ce in due course. Election rules will be available at the Registered Offi ce of the Company. 4 ANNUAL REPORT 2011 www.bankasia-bd.com Prelude We are once again proud and honored to be able to publish the Annual Report 2011. We have been totally transparent, careful and accountable while crafting fi nancial, social and economic performances of the Bank in various reports and statements included in this book. This report portrays the Bank’s position in the industry against the backdrop of global and national economic outlook. We have tried to cover aspects of Corporate, SME and Retail banking, Treasury functions, Remittance services, Export/ Import business and performance of subsidiaries. This report has also addressed issues of corporate governance, corporate social responsibilities and green banking etc. We have also discussed over Human Resource related issues like health, safety and work environment for employees, gender equality, workforce diversity etc. This report will provide with all kind of material information that will greatly assist the shareholders, depositors, borrowers, investors, regulators and all other concerned parties in assessing the overall and area specifi c performance and future prospects of the Bank. Along with the operating and fi nancial information, this report also illustrates various models and rigorous analysis that would help all potential stakeholders to take decisions in their respective interest analysis. This report also includes futuristic approach that means apart from fi nancial statements and ratio analysis, which are prepared based on historical cost principle, other statements e.g. corporate information, human resources, green banking initiatives etc. are being updated with current data for better understanding about the Bank’s goals and strategic objectives for 2012 and beyond. Md. MehmoodMehmood HusainHusainai PresidentPid and dMi Managing Director Di ANNUAL REPORT 2011 5 www.bankasia-bd.com Vision Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, refl ecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. 6 ANNUAL REPORT 2011 www.bankasia-bd.com Mission To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. To become the most sought after Bank in the country, rendering technology driven innovative services by our dedicated team of professionals. ANNUAL REPORT 2011 7 www.bankasia-bd.com Core Values Place customer interest and satisfaction as fi rst priority and provide customized banking products and services. Value addition to the stakeholders through attaining excellence in banking operation. Maintain high ethical standard and transparency in dealings. Be a compliant institution through adhering to all regulatory requirements. Contribute signifi cantly for the betterment of the society. Ensure higher degree of motivation and dignifi ed working environment for our human capital and respect optimal work-life balance. Committed to protect the environment and go green. 8 ANNUAL REPORT 2011 www.bankasia-bd.com Business Ethics Business principle Information that may aff ect the share price Bank Asia go beyond minimum legal requirements and As a publicly listed company, Bank Asia is subject to strict refl ect the Bank’s long term commitment to building a rules concerning the handling the non-public information business that is successful, honest and responsible. that may aff ect the market price of Bank Asia’s shares or other fi nancial instruments issued by the Bank. Human worth Accounting Bank Asia supports the international human rights as outlined by the UN declaration and convention. No one Bank Asia has the highest regard for truth, completeness in the Bank shall in any way cause or contribute to the and accuracy in the recording of business transactions violation or circumvention of human rights. is full compliance with applicable Bangladesh laws & regulation, fi nancial reporting standards, good accounting Human capital practices as well as maintaining valid authorization and Bank Asia is devoted to human capital initiative ensuring complete documentation. The annual accounts connecting with milestone training, performance and interim accounts shall be in accordance with the law, coaching & development, key talent management, BFRS and good accounting practices. balancing of work/ life choice and human capital reviews. Competition Health, safety and working environment Bank Asia is committed to staying over and above Bank Asia is committed to establish eff ective arrangement the prevailing market competition through constant to identify and eliminate or control all work related hazards innovation of technology based products and effi ciency and risks and promote health at work and continuous enhancement; being responsive to the requirements of improvement of health, safety and working environment. our customers and partners. Confi dentiality Corruption and bribery Clear, honest and open communication is maintained Bank Asia is fi rmly opposed to all forms of corruption. in Bank Asia to ensure full accountability but subject to Bribery is fundamentally inconsistent with the Bank’s business confi dentiality. The use of company confi dential values; any direct and indirect promise of payment to gain information before it is public for personal gain is strictly any perceived personal advantage is totally unacceptable.

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