Independent Auditor's Report and Audited Consolidated & Separate Financial Statements for the Year Ended 31 December 2016

Total Page:16

File Type:pdf, Size:1020Kb

Independent Auditor's Report and Audited Consolidated & Separate Financial Statements for the Year Ended 31 December 2016 Dhaka Bank Limited and its subsidiaries Independent Auditor's Report and Audited Consolidated & Separate Financial Statements For the year ended 31 December 2016 BDBL Bhaban (Level -13 & 14), 12 Kawran Bazar Commercial Area, Dhaka - 1215, Bangladesh. ACNABIN Cbartered Accowntants BDBL Bhaban (Level-13 & 14) Telephone: (88 02) 81.44347 ro 52 1.2 Kawran Bazar Commercial Area (88 02) 8189428 to 29 Dhaka-121.5, Bangladesh. Facsimile: (88 02) 8144353 e-mail: <[email protected]> Web: www.acnabin.com INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DHAKA BANK LIMITED Report on the Financial Statements We have audited the accompanying consolidated financial statements of Dhaka Bank Limited and its subsidiaries namely Dhaka Bank Securities Limited and Dhaka Bank Investment Limited ("the Group") as well as the separate financial statements of Dhaka Bank Limited ("the Bank"), which comprise the consolidated balance sheet of the Group and the separate balance sheet as at 31" December 2016 and the consolidated and separate profit and loss accounts, consolidated and separate statements of changes in equity and consolidated and separate cash flow statements for the year then ended and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements and Internal Controls Management is responsible for the preparation of consolidated financial statements of the Group and also the separate financial statements of the Bank that give a true and fair view in accordance with Bangladesh Financial Reporting Standards as explained in note # 2.1.7 and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements of the Group and also separate financial statements of the Bank that are free from material misstatement, whether due to fraud or error, The Bank Company Act, 7997 (Amended in 201"3) and the Bangladesh Bank Regulations require the management to ensure effective internal audit, internal control and risk management functions of the Bank, The management is also required to make a self-assessment on the effectiveness of anti-fraud internal control and report to Bangladesh Bank on instances offraud and forgeries. Auditor's Responsibility Our responsibility is to express an opinion on these consolidated financial statements of the Group and the separate financial statements of the Bank based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements of the Group and the separate financial statements of the Bank are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements of the Group and separate financial statements of the Bank. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements of the Group and separate financial statements of the Bank, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation # -indrynd"nt*.u.,"t BAKER TILLY Branch Office :Jahan Building No.7 (1st Floor, North Side), 59 Agrabad Commercial Area, Chittagong-4100, Bangladesh. INTERNATIONAL Tel: (+63-931; 2511352, Fax: (+36-931; 2517353, E-mail: <[email protected]>, Web: www.acnabin.com ACNABIN Cbartered Accomttants of consolidated financial statements of the Group and separate financial statements of the Bank that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements of the Group and also separate financial statements of the Bank. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements of the Group and the separate financial statements of the Bank give a true and fair view of the consolidated financial position of the Group and the separate financial position of the Bank as at 31 December 2016, and of its consolidated and separate financial performance and its consolidated and separate cash flows for the year then ended in accordance with Bangladesh Financial Reporting Standards as explained in note # 2,1.1. Report on Other Legal and Regulatory Requirements In accordance with the Companies Act 1994, Securities and Exchange Rules 1987, the Bank Company Act, 1997, (Amended in 2013) and the rules and regulations issued by Bangladesh Bank, we also report that: [a) we have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit and made due verification thereof; (b) to the extent noted during the course of our audit work performed on the basis stated under the Auditor's Responsibility section in forming the above opinion on the consolidated financial statements of the Group and the separate financial statements of the Bank and considering the reports of the management to Bangladesh Bank on anti- fraud internal control and instances of fraud and forgeries as stated under the Management's Responsibility for the Financial Statements Financial Statements and Internal Control: i) internal audit, internal control and risk management arrangements of the Group and the Bank as disclosed in note # 2.36 to the financial statements appeared to be materially adequate; ii) nothing has come to our attention regarding material instances of forgery or irregularity or administrative error and exception or anything detrimental committed by employees of the Bank and its related entities; (c) financial statements of the subsidiaries of the Bank have been audited by us and have been properly reflected in the consolidated financial statements; [d) in our opinion, proper books of account as required by law have been kept by the Group and the Bank so far as it appeared from our examination of those books; $ unaeraeft member of BAKER TILLY INTERNATIONAL ACNABIN Cbartered Accountants (e) the consolidated balance sheet and consolidated profit and loss account ofthe Group and the separate balance sheet and separate profit and loss account ofthe Bank dealt with by the report are in agreement with the books of account; [0 the expenditure incurred was for the purposes of the Bank's business; [g) the consolidated financial statements of the Group and the separate financial statements of the Bank have been drawn up in conformity with prevailing rules, regulations and accounting standards as well as with related guidance issued by Bangladesh Bank; (h) adequate provisions have been made for advances which are, in our opinion, doubtful of recovery; (i) the records and statements submitted by the branches have been properly maintained and consolidated in the financial statements; (j) the information and explanation required by us have been received and found satisfactory; and [k) we have reviewed over B0o/o of the risk weighted assets of the Bank and we have spent around 3,200 person hours for the audit ofthe books and accounts ofthe Bank, 4*^^ Dhaka, ACNABIN 30 April 2017 Chartered Accountants j a inaeoenaed ffiber of BAKER TILLY INTERNATIONAL ACNABIN Cbartered Accormtdnts Dhaka Bank Limited and its Subsidiaries Consolidated Balance Sheet As at 31 December 2016 3t.L2.20t6 3L.L2.20L5 Taka Taka PROPERTY AND ASSETS Cash 3 [a) t6,7L5,75A,759 L4,966,422,1O9 Cash in hand (including foreign currencies) 3.1 (aJ I ttez,+onii-1 , 1"s4t?oesia- Balance with Bangladesh Bank and its agent bankfs) 3.2(a) l_t+,gfi,zso,oo+ I B,+zz,ztz,szs I Iincluding foreign currencies) Balance with other banks and financial institutions 4[a) 1L,229,4A3,4A5 LO,2L2,560,426 In Bangladesh a.1@) 8,640,709,728 6,724,357,465 Outside Bangladesh a.2@) 2,588,773,757 3,488,208,961 Money at call and on short notice 5 [a) 1,051,300,000 15,300,000 Investments 6(a) 23,783,240,894 Ttsiii"Bso^:osl23,O72,924,O90 Government Others 3,435,073,785 I Loans, advances and lease/investments 7 (a) 118,184,490,515 Loans, cash credits, overdrafts, etc./lnvestments 7.I(a) L31,707,1,73,368 f ilslge,B3o,szs l Bills purchased and discounted B[aJ z,zs+,0+g,g+o __, 4r9n1363 I ) Fixed assets including premises, furniture and fixtures e(a) 4,201,264,375 4,t09,853,726 Other assets 10(a) LL,4393OA,527 6,630,271,559 Non-banking assets 11[aJ 23,166,O33 23,166,033 Total Assets 2O3,276,9L2,804 L77,2L4,978,459 LIABILITIES & CAPITAL Liabilities Borrowings from other banks, financial institutions and agents L2(a) LL,496,B73,LSO LO,B34,730,4ZO Deposits and other accounts 13 (a) L56,756,94A352 r38,59r,50L,745 Current accounts & other accounts I no't.,+ii,iii) rs..-B2sli,iri1, Bills payable 2,047,637,778 - 7,267,436,384 Savings bank deposits 16J35,239J321 I u,so+,284,81ti Term deposits ffO,AAO,OO:,:eZ nagzz,ogs,zoo l i l_ l Non Convertible Subordinated Bond T4 3,800,000,000 1,400,000,000 Other Liabilities 15(aJ L6,3O8,1L3,2O7 12,677,L74,983 Total Liabilities 18436L934,709 L63,5O3,4O7,149 Capital/Shareholders' Equity Equity attributable to equity holders
Recommended publications
  • Odhikar's Fact Finding Report/5 and 6 May 2013/Hefazate Islam, Motijheel
    Odhikar’s Fact Finding Report/5 and 6 May 2013/Hefazate Islam, Motijheel/Page-1 Summary of the incident Hefazate Islam Bangladesh, like any other non-political social and cultural organisation, claims to be a people’s platform to articulate the concerns of religious issues. According to the organisation, its aims are to take into consideration socio-economic, cultural, religious and political matters that affect values and practices of Islam. Moreover, protecting the rights of the Muslim people and promoting social dialogue to dispel prejudices that affect community harmony and relations are also their objectives. Instigated by some bloggers and activists that mobilised at the Shahbag movement, the organisation, since 19th February 2013, has been protesting against the vulgar, humiliating, insulting and provocative remarks in the social media sites and blogs against Islam, Allah and his Prophet Hazrat Mohammad (pbuh). In some cases the Prophet was portrayed as a pornographic character, which infuriated the people of all walks of life. There was a directive from the High Court to the government to take measures to prevent such blogs and defamatory comments, that not only provoke religious intolerance but jeopardise public order. This is an obligation of the government under Article 39 of the Constitution. Unfortunately the Government took no action on this. As a response to the Government’s inactions and its tacit support to the bloggers, Hefazate Islam came up with an elaborate 13 point demand and assembled peacefully to articulate their cause on 6th April 2013. Since then they have organised a series of meetings in different districts, peacefully and without any violence, despite provocations from the law enforcement agencies and armed Awami League activists.
    [Show full text]
  • Agrani Bank Sl No. Name & Address of the Branch Ad Code
    AGRANI BANK SL AD CODE NAME & ADDRESS OF THE BRANCH NO. NO. 1 HEAD OFFICE, MOTIJHEEL C/A, DHAKA 0000 2 PRINCIPAL BRANCH, 9/D DILKUSHA C/A, DHAKA 0001 3 BANGA BANDHU AVENUE BRANCH, 32 B.B. AVENUE, DHAKA 0002 4 MOULVI BAZAR BRANCH, 144 MITFORD ROAD, DHAKA. 0003 5 AMIN COURT, MOTIJHEEL, 62/63 MOTIJHEEL C/A, DHAKA 0004 6 RAMNA BRANCH, 18 BANGA BANDHU AVENUE, DHAKA 0005 7 FOREIGN EXCHANGE BRANCH, 1/B RAJUK AVENUE, DHAKA 0006 8 SADARGHAT BRANCH,3/7/1&2 JONSON RD,SADARGHAT, DHAKA. 0007 9 BANANI BRANCH, 26 KAMAL ATATURK AVENUE, BANANI, DHAKA. 0008 10 BANGA BANDHU ROAD BRANCH, 32/1 B.B. AVENUE, NARAYANGONJ 0009 11 COURT ROAD BRANCH, 52/1 B.B.ROAD, NARAYANGONJ 0010 12 FARIDPUR BRANCH, CHAWK BAZAR, FARIDPUR 0011 13 WASA BRANCH, KAWRAN BAZAR, DHAKA. 0012 14 TEJGAON INDUSTRIAL AREA BRANCH, 315/A TEJGAON I/A, DHAKA 0013 15 NAWABPUR ROAD BRANCH, 243-244 NAWABPUR ROAD, DHAKA 0014 16 COMMERCIAL AREA BRANCH, 28 AGRABAD C/A, CHITTAGONG 0015 17 ASADGONJ BRANCH, HAJI AMIR ALI CHOWDHURY ROAD, CHITTAGONG 0016 18 LALDIGHI EAST, 1012/1013 - LALDIGHI EAST, CHITTAGONG 0017 19 AGRABAD BRANCH, JAHAN BUILDING, 24 AGRABAD C/A, CTG 0018 20 COX'S BAZAR BRANCH, COX'S BAZAR 0019 21 RAJGANJ BRANCH, RAJGANJ, COMILLA 0020 22 LALDIGHIRPAR BRANCH, LALDIGHIRPAR, SYLHET 0021 23 CHAUMUHANI BRANCH,D.B.ROAD, BEGUMGONJ, CHAUMUHANI, NOAKHALI 0022 24 SIR IQBAL RAOD BRANCH, 25 SIR IQBAL RAOD, KHULNA 0023 25 JESSORE BRANCH, JESS TOWER, JESSORE 0024 26 CHAWK BAZAR BRANCH, 02/01 CHAWK BAZAR, BARISAL 0025 27 BARA BAZAR BRANCH, N.S.
    [Show full text]
  • An Analysis of Retail Banking Products of the City Bank Limited
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by BRAC University Institutional Repository An Analysis of Retail Banking Products of The City Bank Limited Internship Report On An Analysis of Retail Banking Products of The City Bank Limited Submitted To: Mr. Jabir Al Mursalin Senior Lecturer BRAC Business School BRAC University Submitted By: Syeda Najifa Wareesa Id: 10104130 Date Of Submission: 10th June 2014 Letter of Transmittal 10th June 2014 Mr. Jabir Al Mursalin Senior Lecturer BRAC Business School BRAC University Subject: Submission of Internship report Dear Sir, I would like to submit my report titled ‘An Analysis of Retail Banking Products of The City Bank Limited prepared as a part of the requirement for BBA program of BRAC Business School. I have successfully completed my internship program in The City Bank Limited and I worked there as an intern for three months. Working on this report was a great learning experience for me as I got to learn the differences between practical and theoretical work. I hope you will find the report to be systematic and reliable. I would like to take this opportunity to thank you for all the support and guidelines that you have provided, which I hope to continue getting in the future. Sincerely yours, Syeda Najifa Wareesa Id: 10104130 BRAC Business School BRAC University Acknowledgements First I want to pay my gratitude to almighty Allah for enabling us to prepare the report successfully. Then I would like to express my sincere gratitude and cordial thanks to some specific persons who helped me to organize this report and for their kind opinion, suggestions, instructions and support and appropriate guidelines for this.
    [Show full text]
  • Country Wise List of Our Foreign Correspondents Sonali Bank Limited
    Country wise list of our Foreign correspondents as on 31-12-2018. Prepared bv : Sonali Bank limited Foreign Remittance Management Division Head office.Dhaka. Courtesv : Sonali Bank limited (Product Development Team) Business Development Division Head office,Dhaka. E mail-dgmb ddp dt@s on aliban k. co m.b d Md Mizanur Rahman Md Zillur Rahman Sikder Senior Principal officer Senior ofl.icer Product Development Team. Product Der elopment Team. mob-01708159313. mob-019753621 15. Corp Bank Country dents as on 3ut2na18 Sl.No. Name ofCountry No. o No. of SI. No. Name ofCountry No. of No. of Corp. RMA Corn. RMA 01. Afganistan J I 45. Malaysia t2 12 02. Australia 8 7 46. Monaco I I 03. Algeria J 1 41. Malta 2 04. Argentina I Z I 48. Netherlands 8 7 , 05. Albenia i 49. New Zealand J J 06. Austria 7 6 50. Nepal 2 2 07. Balrain J J 51. Norway 2 I 08. Belgium 9 7 52. Nigeria I ) 09. Bhutan 2 53. Oman I q 2 10. Bulgaria 4 4 54. Pakistan 18 18 ll Brunei I 55, Poland 3 1 12. Brazrl 4 2 56. Philippines 5 5 lJ. Republic ofBelarus I 57. Portugal 4 J 14. Canada 8 7 58. Qatar 6 5 15. China 4 l3 59. Romania 1 1 16. Chile I I 60 Russia 9 8 17. Croatia I 61. SaudiArabia l6 t5 18. Cyprus I I o/.. Senegal 1 1 t 19. CzechRepublic 6 J 63. Serbia + J ,1 20. Denmark J J 64. Srilanka 5 21.
    [Show full text]
  • Bank Code Br. Code Bank & Branch Name 01 INVESTMENT CORPORATION of BANGLADESH (ICB) 02 BRAC BANK LIMITED 03 EASTERN BANK
    Bank Code Br. Code Bank & Branch Name 01 INVESTMENT CORPORATION OF BANGLADESH (ICB) 01 Head Office, Purana Paltan, Dhaka 02 Local Office, Nayapaltan, Dhaka 03 Chittagong Branch, Chittagong 04 Khulna Branch, Khulna 05 Rajshahi Branch, Rajshahi 06 Barisal Branch, Barisal 07 Sylhet Branch, Sylhet 08 Bogra Branch, Bogra 02 BRAC BANK LIMITED 01 Asad Gate Branch, Dhaka 02 Banani Branch, Dhaka 03 Bashundhara Branch, Dhaka 04 Donia Branch, Dhaka 05 Eskaton Branch, Dhaka 06 Graphics Building Branch, Motijheel, Dhaka 07 Uttara Branch, Dhaka 08 Shyamoli Branch, Dhaka 09 Gulshan Branch, Dhaka 10 Manda Branch, Dhaka 11 Mirpur Branch, , Dhaka 12 Nawabpur Branch, Dhaka 13 Rampura Branch, Dhaka 14 Narayanqani Branch, Narayanganj 15 Agrabad Branch, Chittagong 16 CDA Avenue Branch, Chittagong 17 Potia Branch, Chittagong 18 Halisohor Branch, Chittagong 19 Kazirdeuri Branch, Chittagong 20 Momin Road Branch, Chittagong 21 Bogra Branch, Bogra 22 Rajshahi Branch, Rajshahi 23 Jessore Branch, Jessore 24 Khulna Branch, Khulna 25 Barisal Branch, Barisal 26 Zindabazar Branch, Sylhet 03 EASTERN BANK LIMITED 01 Principal Branch, Dilkusha, Dhaka 02 Motijheel Branch, Dhaka 03 Mirpur Branch, Dhaka 04 Bashundhara Branch, Dhaka 05 Shyamoli Branch, Dhaka 06 Narayanganj Branch 07 Jessore Branch 08 Choumuhoni Branch 09 Agrabad Branch, Chittagong 10 Khatunganj Branch, Chittagong 11 Bogra Branch, Bogra 12 Khulna Branch, Khulna 13 Rajshahi Branch, Rajshahi 14 Savar Branch, Savar, Dhaka 15 Moulvi Bazar Branch, Sylhet Page # 1 Bank Code Br. Code Bank & Branch Name 04 BANK ASIA LIMITED 01 Principal Office , Motijheel C.A., Dhaka 02 Corporate Branch, Dhaka 03 Gulshan Branch, Dhaka 04 Uttara Branch, Dhaka 05 North South Rd.
    [Show full text]
  • INTERNATIONAL FINANCE INVESTMENT and COMMERCE BANK LIMITED Audited Financial Statements As at and for the Year Ended 31 December 2019
    INTERNATIONAL FINANCE INVESTMENT AND COMMERCE BANK LIMITED Audited Financial Statements as at and for the year ended 31 December 2019 INTERNATIONAL FINANCE INVESTMENT AND COMMERCE BANK LIMITED Consolidated Balance Sheet as at 31 December 2019 Amount in BDT Particulars Note 31 December 2019 31 December 2018 PROPERTY AND ASSETS Cash 18,056,029,773 16,020,741,583 Cash in hand (including foreign currency) 3.a 2,872,338,679 2,899,030,289 Balance with Bangladesh Bank and its agent bank(s) (including foreign currency) 3.b 15,183,691,094 13,121,711,294 Balance with other banks and financial institutions 4.a 5,637,834,204 8,118,980,917 In Bangladesh 4.a(i) 4,014,719,294 6,823,590,588 Outside Bangladesh 4.a(ii) 1,623,114,910 1,295,390,329 Money at call and on short notice 5 910,000,000 3,970,000,000 Investments 47,216,443,756 32,664,400,101 Government securities 6.a 41,369,255,890 27,258,506,647 Other investments 6.b 5,847,187,866 5,405,893,454 Loans and advances 232,523,441,067 210,932,291,735 Loans, cash credit, overdrafts etc. 7.a 221,562,693,268 198,670,768,028 Bills purchased and discounted 8.a 10,960,747,799 12,261,523,707 Fixed assets including premises, furniture and fixtures 9.a 6,430,431,620 5,445,835,394 Other assets 10.a 9,606,537,605 9,003,060,522 Non-banking assets 11 373,474,800 373,474,800 Total assets 320,754,192,825 286,528,785,052 LIABILITIES AND CAPITAL Liabilities Borrowing from other banks, financial institutions and agents 12.a 8,215,860,335 9,969,432,278 Subordinated debt 13 2,800,000,000 3,500,000,000 Deposits and other
    [Show full text]
  • BRANCHES Dhaka Region Opening Sl
    BRANCHES Dhaka Region Opening Sl. Branch Address Tel/Fax Email Date Market Complex (1st Floor), Amin Bazar Tel: 900 8998 March 01 Amin Bazar Jame Mosque, 780, [email protected] Branch Begun Bari Union, Fax: 905 5118 15, 2001 Amin Bazar, Savar, Dhaka 73/B, Kemal Ataturk Tel: 986 2942, 988 October 02 Banani Branch Avenue, Banani, 1582 (Dir.), 988 2324-5 [email protected] 07, 1996 Dhaka Fax: 883 3481 88, Shahid Syed Tel: 711 0463, 711 Bangshal Nazrul Islam December 03 Branch 3748, 717 5275 [email protected] Sharani, (1st & 2nd 06, 1995 Fax: 955 8451 flr), Dhaka 1100 House: 23, Block: K, Baridhara Shahid Shuhrawardi Tel: 88320635(Dir.) November 04 [email protected] Branch Avenue, Baridhara, Fax: 883 2068 14, 2006 Dhaka 1229 Nilachal (1st floor), Tel: 839 6420, 839 Plot# 14, Block# B, July 05 Banashree 6421 [email protected] Branch Main Road, 18, 2012 Banashree, Dhaka Fax: 839 6426 Eleven Square, Holding No. #01, Road Banani Road No. #11, Ward No. December 06 Cell: 01714 097763 [email protected] No. 11 Branch #19/5, Banani R/A, 27, 2017 Thana - Banani, District - Dhaka Board Bazar, Tel: 929 3595-6 November 07 Board Bazar Gazipur Gazipur [email protected] Branch 1704 Fax: 929 3595-106 08, 2006 Zone Service Building, Room # Tel: 778 9671 April 08 DEPZ Branch 48-51, DEPZ, [email protected] Ganakbari Savar, Fax: 778 9672 12, 2001 Dhaka 1349 House No. 500, Tel: 911 1537, 912 Road: 07, August 09 Dhanmondi 2278 (Dir.) [email protected] Branch Dhanmondi R/A, 01, 2000 Dhaka 1205 Fax: 812 5481 Ground floor, Plot Tel: 910 3651(Dir.) June 10 Dhanmondi [email protected] Model Branch No.
    [Show full text]
  • Dhaka Bank Limited and Its Subsidiary Consolidated Balance
    Dhaka Bank Limited and its Subsidiary Consolidated Balance Sheet As at 31 March 2014 31.03.2014 31.12.2013 Taka Taka PROPERTY AND ASSETS Cash 13,291,336,562 11,900,762,425 Cash in Hand (including foreign currencies) 1,639,689,695 1,609,002,280 Balance with Bangladesh Bank & Sonali Bank (including foreign 11,651,646,867 10,291,760,145 currencies) Balance With Other Banks & Financial Institutions 3,167,753,956 2,692,952,439 In Bangladesh 1,937,169,093 1,927,287,468 Outside Bangladesh 1,230,584,863 765,664,971 Money at Call and Short Notice 718,900,000 338,900,000 Investments 21,488,401,455 20,240,852,234 Government 17,141,287,206 16,009,301,980 Others 4,347,114,249 4,231,550,254 Loans & Advances 101,331,332,253 100,364,424,555 Loans, Cash Credit & Over Draft etc. 99,308,138,204 98,150,571,358 Bills Discounted and Purchased 2,023,194,049 2,213,853,197 Premises and Fixed Assets 2,600,391,551 2,538,497,507 Other Assets 8,112,917,336 7,300,718,533 Non-Banking Assets 23,166,033 23,166,033 Total Assets 150,734,199,146 145,400,273,725 LIABILITIES & CAPITAL Liabilities Borrowings from other banks, financial institutions 5,752,046,372 3,649,917,871 and agents Deposits and Other Accounts 118,588,027,088 115,981,165,413 Current Accounts & Other Accounts 11,200,677,886 10,171,783,633 Bills Payable 1,076,546,533 991,276,689 Savings Bank Deposits 9,258,356,453 8,870,151,906 Term Deposits 97,052,446,216 95,947,953,185 Non Convertible Subordinated Bond 2,000,000,000 2,000,000,000 Other Liabilities 12,183,588,071 11,724,374,595 Total Liabilities 138,523,661,531
    [Show full text]
  • Sena Kalyan Bhaban Branch
    Sena Kalyan Bhaban Branch 9 Chapter 2: Banking Sector in Bangladesh 2.1 Definition of Bank: Generally speaking bank is referred to an organization that deals in money. The definition of bank can be as follows. Provided by Famous Encyclopedia: A commercial banker is a dealer in money in substitutes for money, such as check or bill of exchange. – New Encyclopedia Britannica Establishment for custody of money, which it pays out on customers order. – The New Oxford Encyclopedia Dictionary Provided by and Ordinances: Banker includes a body of person whether incorporated or not, who carry on the business of banking. – English Bills of Exchange Act - 1882 A bank is a person or corporation carrying on bonafide banking business. – English Finance Act Provided by Banking Institutes: A bank performs an essentially distributive task, service or acts as an intermediary between borrowers & lenders. In broader sense, however, a bank can be considered the heart of a complex financial structure. – American Institute of Banking Stated very simply, banks deal in money and in that connection offer certain related financial services. – Harold Wallgren for American Bankers Association The above-mentioned characteristics sketched to outline the definition of a “bank” are nowadays shared by a lot of different types of financial institution. Therefore, because banking activities now overlap many diverse businesses, we will consider a variety of modern financial institutions 10 – including commercial banks but also savings-and-loan associations, brokerage firms, and mutual funds – as “banks”. 2.2 Objectives of a Bank: The objectives of a bank can be looked at from three different perspectives of the three key parties to the banking activities: the bank owner, the Government, and the bank clients.
    [Show full text]
  • And Consumer Credit in the United States in the 1960S
    Christine Zumello The “Everything Card” and Consumer Credit in the United States in the 1960s First National City Bank (FNCB) of New York launched the Everything Card in the summer of 1967. A latecomer in the fi eld of credit cards, FNCB nonetheless correctly recognized a promising business model for retail banking. FNCB attempted not only to ride the wave of mass consumption but also to cap- italize on the profi t-generating potential of buying on credit. Although the venture soon failed, brought down by the losses that plagued the bank due to fraud, consumer discontent, and legislative action, this fi nal attempt by a major single commer- cial bank to launch its own plan did not signify the end of credit cards. On the contrary, the Everything Card was a har- binger of the era of the universal credit card. irst National City Bank (FNCB) of New York (now Citigroup), one F of the oldest leading commercial banks in the United States, intro- duced the Everything Card in the summer of 1967.1 FNCB was a pioneer in fostering consumer fi nance in the United States. The bank saw an opportunity to increase business by creating an innovative system that would enable masses of consumers to purchase a variety of goods and services on credit. By becoming the principal tool of consumer credit, credit cards revolutionized the banking business. Indeed, “where it couldn’t gain territory with bricks and mortar, Citibank tried to do so 2 with plastic.” The author wishes to express her gratitude to Lois Kauffman of the Citigroup Archives, Citi’s Center for Heritage and Strategy, New York City.
    [Show full text]
  • The Premier Bank Limited
    Evaluating Customer Satisfaction in General Banking of The Premier Bank Limited Evaluating Customer Satisfaction in General Banking of The Premier Bank Limited Submitted To Mr. Muhammad Intisar Alam Senior Lecturer BRAC Business School BRAC University Submitted By Fahmid Jahan Nayeem ID- 08204063 BRAC Business School BRAC University Submitted in Partial Fulfillment for the Degree Bachelor of Business Administration (BBA) BRAC Business School BRAC University Date of Submission: December 17, 2012 Letter of Transmittal December 17, 2012 Mr. Muhammad Intisar Alam Senior Lecturer BRAC Business School BRAC University 66 Mohakhali, Dhaka 1212. Subject: Submission of Internship Report on “Evaluating Customer Satisfaction in General Banking of The Premier Bank limited” Dear Sir, It is a great pleasure to submit the report on “Evaluating Customer Satisfaction in General Banking of The Premier Bank limited.” which was assigned by you for the completion of my internship program. This report is intended to fulfill the essential requirement for the successful completion of BBA program. All the information is done with utmost sincerity and honesty. The observations and result of my study are embodied on this report. I have tried my best to match my theoretical knowledge with the practical field. I also confess that my report has some limitations because I am still student and I am in a process of developing my skills. So I hope that you will be kind enough to consider the limitations of this report. I would like to express my gratitude for the effort you have provided during my internship with all your valuable suggestions and directions which have helped a lot to enhance the quality of this report.
    [Show full text]
  • Department of Premier Bank Limited
    INTERNSHIP REPORT ON PERFORMANCE EVALUATION OF PREMIER BANK LIMITED: T ~ Prt:mil"'r Bit L1 I oeo.d Pre-er Bak r ~ r SUBMITTED TO: proftesor Tanbir Ahmed Chowdhury Dean, FBE And Chairperson Department of Business Administration East West University Submitted By: Sarzina Hassan 10-2010-3-10-061 Major: Finance Department Of Business Administration East West University Letter Of Transmittal: .. : 4'AU~U t,2014 '7 Prof sor Tanbir Ahmed Chowdhury .I ... Dean,FBE and Chairperson Department of Business Administration East West University Subject :Submission of Internship report Dear Sir, It is a pleasure for me to inform you that I have done my internship successfully, which was a partial fulfillment of the requirement for the Bachelor of Business Administration program. The topic of my internship report was" Performance Evaluation of Premier Bank Limited". It was a worthwhile experience for me to work in a challenging environment of a leading private commercial Bank .I am undeniably to you and my department for giving me the opportunity to obtain practical skill. I also want to thank the HR manager of Premier Bank Limited and the manager of Shymoli Branch for giving me the opportunity to assign me as an intern but also cooperate me for completing my internship report successfully. Finally I assure you that I have tried my best to make a systematic and informative summary based on my practical work. Yours Sincerely SARZINA HASSAN ID- 2010-3-10-061 Major in Finance Department of Business Administration Acknowledgement: First of all I would like to thank to all mighty Allah for giving me the'ipatience and proper time to complete my internship study successfully.
    [Show full text]