IPDC Finance Limited
Financial statements (Un-audited) as at and for the quarter ended 31 March 2017 IPOC Fln.nc. untt d
B.LM Shit (UHudn d) 31llrE!29!Z !l-Aeee!rl:!1!
rn h4d (ircrudin! to6rln @4je.) 205,000 g.la@ gank $ln B3nol6d6.n and iE .est b.nt(B) (irdiring toBron @ftft:iB) 2?6.125.597 u;\aaa,a4 x83a6.697
aab@ rdh otlEr b€.l3 end fnqi.l iN0lljllm 1,7f0_151,46A 1.632.372.469 1,77o.i6l,aac t 3t2.372ra69 d.y n 6 .nd .hdl noUc.
ldG,.d€rcs.nd l..G q€dit LeB,6h , ovardEtts, eic 23,469.439,036 23,3Bt.at9,Ota 11,aa0.6r5.090 Flx.d.s.6& hctldtng t.nd, bo dtn!, fumttur..nd fiiurc
N,o. llnan.l.t h.ttritoEt.$6 3,752,a05 2r.r84.348.521 22.578.949.615 U.b ftL! .nd .h.nhdir.r equiy
Borelngs lrff olhd banK, fnsci.t iNttuiton. dd agent3 2,O24 412,623
DeF6.1s aid othd @unts 20,755,i52,699
1,562,763.75A 1t81,1e€_639 2494.320.030 i 9.aot 3a!.936
12 1,515,005,670 1,515,005,670
A.!.ll Baruallon ls^€ 634.172,23r rot l .h.Fhold.F .qdt 2.t!a.03t!.l|t tor.r rr.bftl€ .nd .hlrhotd.c oqltt 27.tL.tt,,a2t 22,t6.9a0.315
lot l cq|dngdt ttruttt .
Iot l olh.r @mnnn.nb
Tot l [email protected]@t li.m. hctudtng @n{ng.nt ab t .! 1t.382,91! t0,043.s1!
7/D.nhq.d nd8tffi l to 3? @d A.Mu6 A and B e q ktcg'l Datd th$.tuandst stat tuE. 4k*' M-,] IPOC Flnancs Umltod
Profft and Lo.3 Account (Un{udlt!d) @12 2010 For th. qu.rter €ndod 31 March
1E 576,833,051 240,/A3.076 L63ri Inld.sl paid on doposits and boroti/in$,etc. '19 337,362,120 ___lEJ!g!gg_ 239,470,93.t 12232e,7A1 20 13,E65,999 5,012,573 Comml3slon, exchang€ and broke€g€ 21 11,657,144 4,474,122 Olh.r op€raling ancom. 22 3.943,420 4.236.326 Tot l op.Etlng Incom€ 271.937,498 136.a50..t02
23 53,148,317 25,098,458 R6nl ldes, insuranc., 6l6ctioity, etc. 24 7,251,157 3,930,E74 25 3,480,789 3,160,152 Poslag€, sl.mp, lelecommunications, Btc, 1.147.137 452.052 Stslionery, pdntang, rdv6ni!€mlnrs, 6tc. 27 3,283,30E 7,039,4€6 Ma.aging Direclois !.|ary end rllowanca3 2A 2,1E7,9S9 2,147,999 29 742,374 30 126,5'06 126,504
D8pt.clalion and lepair ot a3sets 31 11.189.895 6.967.329 32 13,220.1E2 7,075,752 f otal oD.i.tlog 3x!.nt6 125.!02.152 t.180.980 Pt!'nt b.tor" provlllo. 14q135,345 79,269,122
ProvEion for loans .nd advances 33 347,006ff t22.050.A72) Prcvisiorv(l€vels€l) ror diminution in vetu€ of inveshenrs 34 25,347.006 _____133p!q9Z3L 1207EE,340 10t,3.t9,99a
1 1 .4 Dofor€d to( €tp€n!6/ (incom€) T--ssz6rsr-lf-323?4tfl 3s L__3$,gz!lt 8,054,06e I 57,832,s18 _____lgp4t!- 62,455,422 60.391.651
Ermlngt p.r shar! (EPs) 0.12 o.ao
hd11 1 lo 37 and Annoxures A aN B arc an integral part of r,se tinanciaLstato
Managing Dir.clor & CEO IPOC Fln.nco Llmitod
Cash Flow St tement (Un{udlbd) MI ?!10 Fot tn. qua4er .nd.d 3'l larch A) c'sh flow3 trom oporalins .c0vhi.3 588,203,036 't70,713,2:6 (322,937,6,{9) (129,374,559) Divadsnd r€c€lv6d 6,348,878 Fee and commbsion rsc€av€d 14,557,148 4.874,422 Recoved€s of loan previously writbn ofi 3,€66,320 4,021,726 Payment lo smploy€es (55,335,316) (41,272,660) Paym€nl lo Buppliars (79,613,478) (21,975,203) Incom€ laxe8 oaid (48,228,246) 12t ,270.209) Receipt from othsr op€rating activitios 277,100 10,022.9U Payment for oti6r op€raling activities Cash gon.'l.'t/t lront/(usad ln) opcndry.cfl,ues b.to't changes In opndng.ssa6 ancl tlabllldet 107,036.793 (2.280.23)
Ch.ng€ In op.6dng e3!.ts.nd tt.bitiliss Sralurory depGits Sab of lrading Bocuritiss Loans and adven€s to othsrbanks 22,511.552 24,5f,6,959 Loans and advenc$ to custofi€rs (4,43,145,516) (2,034,s98,209) 2,196,2.19 (1,285,367) O€posils from other banks and tinanciat insr.tutions 1,300,000,000 1.'t50,000,0c10 Deposits from c|l8tomors 2,275,362.283 810,267,476 Olh3r liability accounts of arstomsrs Tradlng liabilities 851,577,432 406,482,865 Olher liabiliti€g 11.900.461 34.932.717 Cash rccolvadt(p.ld) fton openung tssds.nd thb fttes 30.002.43'l !94.!56,a/al Na, cath ,nn opcntn,g ecttvtah. rt7.030.224 370.006.,t 98 Bl Ca.h nowr trom Invo.tng rcdvhi.. ftoce€ds lrom Bel€ ot s€aritiE3 Paymenls for purch€s€ of sscurjtior N6l incGass purchase in of propedy, ptant and equipment {18,146,134) (639,902) Sale proc6eds of property, plant and oquipment Nat cash (used lny hon invetdng .ctivittes {18.i46.134) t039.902} C) Calh flow! from flnancing .cilvtd.! Receipl3 fiom issus ol loan and d€bt Bocudti€s PaymenB for r6dsmption of toan and d6bt securities Recaipls from bsu€ of ordinary sher€ Re.eipls(paymenb) ol long tefi loan 35.386,i50 (3,223,720) Dividends paid in cash N., cash (u..d ,ny fton 68.nclns .ctivir'.s 35.3E6.250 13.2:t3.720)
D) N.t Incrosr. In c.!h (A+A+CI 1$,279,340 366,232,576 E) Eff.ct of ch.ng.! In .&hango .!to ov.r cash and crlh .quivatent3 F) Ca3h and csh.qulvalent rt t Jrnuary 1,858.766,066 1,145,231,4E5 G) Carh and c.!h oqulvalentr .t iho .nd of quarbr (O+E+F) __-z!13,942M______l.E!lMJ!! IPDC Fln.nce Lknited
St t rnent of Cheng.! in ShaFhotdors. Equiry (Un{udiGd) For th! quarbr ond€d 3'l fa.cn 2017
Share stat!lory Parliorlats Paid |lo caoital pr6mium t9!!ry9 e44!Sg Ielsl
Balan6 as al 1 2017 Janua 1,515,005,670 167,014,000 393,375,601 124,501,939 575,216,409 2,775,113,619 Surpluv(detid) on account of revaluation ot ass€rs SuQlus(dsfcd) on account of revaluslion of inveslnenis Defered tax liebiliv CurBncv tEnslation dif f€rcnces N€t gain4l6ss) nol recognised in the protit and toss account Net prcrit hr lh6 quaderended 31 March 2017 62.955.A22 62.955.A22 Oividend lssrlance of bonus sha.€ lssuance of sha6 capatal Appropdalion dudnq ule oedod Balancc .. .t 31 larch 20.17 1,5,t 5.005.670 167,0t4.000 393.375.601 'r 24.501 .939 634.172.23,1 2,8:t8,009.44,1
Balance asal 1 '1,262,544,730 J3nuary20'16 1e7,0'14,000 332,75E,2E9 127,046,739 *"-n:* 2,47,t,611,858 SuDlus/(d6ficit) on ac-count of revaluation of ass€b SuQlus/(deftcit) on account of revaluation of investnenrs Defened tax liability Curenq translation diffe€nces Net gain{loss) not.e€gnised in hs proft and toss accounr Net prcfl for tho quader and€d 3'l Marct 2016 60.391.651 60.391.651 Dividend lssuance ol bonus shar€ 252,500,940 (252,500,940) lssuance of share capital ADoroDriation du no lhe oedod Balanco 3'l Merch 2016 .. .l r.515.005.570 167.014.000 332,758.289 't27.086,739 393.1 38.8.t I 2.535.003.509 tPDC Ftnanco Llmlted Notes to the flnanclal statements (Un.audlted) aa at and for the quarter ended 3l March 2017
1. Roporting entity
1.1. Company profile
With a mandate to promote economic growth in the country, IPDC Finance Limited (Formerty named as Industrial Promotjon and Development Company of Bangtadesh Limited) hereinafter also referred as "IPDC" or the "Company" was incorporated in Bangladesh in 1961 as the premier private sector long term lending institution with the Registrar of Joint Stock Companies and Firms, Ohaka. The Company also registered its€lf as a financial institution under the Financial Institutions Act, 1993 on 7 February 1995. The registered office of the Company is situated at Hosna Center (4th Floor), .106 Gulshan Avenue, Dhaka, Bangladesh. The Company became a listed company on 3 December 2006 with both the Dhaka Stock Exchange and the Chittagong Stock Exchange in Bangladesh. The Company has nine bEnch offices located at Gulshan, Dhanmondi, l\4otijheel, Uttara, Chittagong, Narayangonj, Bogra, Gazipur and Sylhet.
1,2. Nature of business ot lhe Company
The Company specialises in providing long term and shod term financing, project financing, lease financing, channel finance, work order finance, mortgage finance, equity financing, syndication finance and Small & Medium Enterprises (SME) financ€. ln 2006, the Company atso started retail business to increase its activities in retail segment.
1.3. Baals of Reporting
The financial statements for the quarter ended 31 March 2017 have been prepared under historical cost convention iollowing accrual basis of accounting and based on Bangladesh Accounting Standard (BASI U: lntein Financial Repotting, Securities and Exchange Rules 1987, Regutations issued by Bangladesh Bank and otherapplicable laws and regutations.
1,4. Accounting policios and mothod ofcomputalions
For preparing the quarterly financial statements, the accounting policies and methodg in consistent with those used in the financial statemenls prepared for the year ended 31 Decernber 2016 have been followed.
1.5. Poat Ealance Sheet evonts
All material events occurring after the balance sheet date have been considered and necessary, adjusted for or disclosed in note no. 37 ofthese financial gtatements.
1.6. Roundlng off and nrarEngement ot flgutoa
Figures have been rounded off to the nearest Taka and 2016 figures have been reclassified/rearEnged, wherc necessary, to conform to current period presentation. lob 31 M,rch 2017 !1_Aeo!rtlo1!
c..h h h.nd (in rudins ior.ren @tucl.s) a.hn4 ljtn aaiali.hrh B.nk .nd it ae.rn bar*(s) (.dudin! tur*n ffii6)
2€5,000 270,000
2S5 000 270.000
22 a.hm. elth B4gr.d6h a.ft .d n .g.rn h6n(.1 {hctqdt.! ior.tqn cuftEtB)
24,125,547
242.530.940 22s1255e7 son.I A.nkLidii.d (8an6!.r ot6{ltad4h Bsnk)
B.ltn..wlihotDrb.nk .Id llM.cLt h.tttl d. -4aEg/fr'g--Egt3:g-
In clmnr d66ir [email protected] rttrr Cmrwdd Ba.k oa C.ylon PLC
unlLd commrcht Bank Limii.d 1,063,031 r6,075 Si.ndad Ch..t Ed a.nk Liribd 5,252,023 393,559 s.dc l.lnl Bar* Uritsd
Sh6n r.h dd6en .6unb witrr Duti Banete B6nk LimiEd 322,542
sLnd.d chaiE ed Bank ttnhd 21,€61,4-74 AL-A6Lh lrr. t Bat( Umibd
U.ti.d Cot|mrcbl gst !|rlbd
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400,000,000 odinary 3haF. ot T.k. 10 scn
l..u.di .ob.crlb.d .nd tufly ,.ld up 151.500,5€t (201€: 151,500,567) odin.ry sh.@ (d Tk 10 doh _.ll!t!Et{Ig__1!19!99!29_-1gg9g9-_19@9- P.id up 6Fid € .r 31 M.Rll 2017 i! m!d. up ol25,7o1,4OO olliE y 3h3E p.ld up h o.h .rld 12s,7t9,167 qlh.ry .hG d|Fr{h i$6r.t boou. .h.6. 'lzl P.ld !r.!Dtt toath.cmp.itt h.|dn tblos
AC. Kh.n Fund aor Eonomrc O.v.torfr.nt (TXFED) ______$4gLZq --______-t-9241,3?9_-_____IEUJ4!EL----___L9]li$:!_ Gowmmdr or th€ Perl. . R.pubtic ot B.not.cbrh (coA)
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