It is a broadly described annual report of IFIC Bank Limited in the year of 2012. In the year 2012, IFIC Bank made the direct contribution of Tk. 87 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 total deposit of the Bank reached Tk. 9,229 Crore in 2012 against Tk. 7,304 Crore in 2011, demonstrating a growth of 26%. Loans & advances increased to Tk. 7,845 Crore from Tk. 6,543 Crore, posting a growth of 20%. The foreign exchange business grew by 7% from Tk. 16,808 Crore to Tk. 17,916 crore. The Bank earned an Operating Profit of Tk. 346 Crore in 2012. Consolidated Earnings per Share of the Bank stood at Tk. 1.20 against face value of Tk.10.00 for the year 2012.
The Board of Directors’ of the IFIC Bank in its 606th Meeting held on 28.03.2013 recommended @10% Stock Dividend for all the shareholders from the operating profit of the Bank for the year 2012 subject to the approval of the shareholders in the 36th 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: