Annual Report 2010 and financial statements of IPDC Finance Limited

It is a broadly described annual report of IPDC Finance Limited in the year of 2010. Total operating income has increased from BDT 297.90 million in 2009 to BDT 348.20 million in 2010 with a healthy 16.89% growth during the year. On the other hand, operational expenses have increased by 45.48% mainly due to the opening of new branches. As a result, operating profits of the Company have increased by 6.20% during the year with BDT 230.30 million in 2010, BDT 216.90 million in the previous year. After making provisions for loans, leases, investments etc. and corporate tax, IPDC’s Net Profit during 2010 stood at BDT 132.90 million, 20.01% higher than the Net Profit of BDT 110.74 million achieved in 2009. The return on investment was 6.95% and earnings per share (EPS) stood at BDT 15.41 during 2010. Though the gross interest income decreased by 14.68% compared to last year, total operating revenue has increased by 16.89% from previous year. Profit before tax has increased by 44.78% compared to previous year mainly due to the containment of expenses, significant collections and lower provisioning requirement of loans, leases, and advances.

These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.

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