It is a broadly described annual report of IFIC Bank Limited in the year of 2013. In the year 2013, the Bank made the direct contribution of BDT 1,869.00 million to the government exchequer by paying Income Tax on its earnings and through deduction of Income Tax, VAT, Customs Duties and Excise Duty at source from various payments and services. The total deposit of the Bank reached a benchmark position of BDT 107,778 million in 2013 against BDT 92,433 million in 2012, demonstrating a growth of 16.61%. Loans and Advances reached BDT 84,110 million from BDT 77,160 million, posting a moderate growth of 9%. The foreign exchange business grew by 2.58% from BDT 179,162 million to BDT 183,791 million. The Bank earned a Profit before Taxes of BDT 2,708.00 million in 2013. Earnings per share of the Bank stood at BDT 3.60 against face value of BDT 10.00 for the year 2013.
The Board of Directors in its 623rd Emergency Meeting held on 20th March 2014 recommended for payment of @ 15% stock dividend for the year ended 31st December 2013. 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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