It is a broadly described annual report of IFIC Bank Limited in the year of 2011. In the year 2011, IFIC Bank made direct contribution Tk. 64.27 Crore to government exchequer by paying Income Tax on its earnings and through deduction of Income Tax, VAT and Excise Duty at source from various payments and services. The deposit of the Bank reached Tk. 7,304 Crore in 2011 against Tk. 5,466 Crore in 2010, showing a growth of 34%, loans & advances increased to Tk. 6,543 core from Tk. 4,883 core, registering a growth of 34% and foreign trade & remittance grew by 27.43% from Tk. 13,190 core to Tk. 16,808 Crore. The Bank earned an Operating Profit of Tk. 317.80 Crore in 2011. Consolidated Earnings per Share of the Bank stood at Tk. 3.00 against face value of Tk. 10.00 as on 31.12.2011.
The Board of Directors’ of the IFIC Bank in its 581st Meeting held on 29.04.2012 recommended @5% Cash Dividend and @25% Stock Dividend for all the shareholders from the operating profit of the Bank for the year 2011 subject to the approval of the shareholders in the 35th Annual General Meeting. 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.
More Annual Report of IFIC Bank Limited in the year of 2016: