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Financial Analysis of Islami Bank Bangladesh

Financial Analysis of Islami Bank Bangladesh

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Financial Analysis of Islami Bank Bangladesh
Financial Analysis of Islami Bank Bangladesh

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Published by: Mahmudul Hasan Rabby on Jun 17, 2013
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APPENDIX

Common Size Analysis of Profit & Loss Account [Total Operating Income as the Base]
Year ended 2012 2011 2010
Amount Weighted
Amount
Amount Weighted
Amount
Amount Weighted
Amount
Total operating income 24,475,344,604 100 20,000,078,858 100 15,657,014,026 100
Operating expenses
Salary & allowances 5,951,305,071 24.32 4,646,993,224 23.23 4,285,461,029 27.37
Rent, taxes, insurances, electricity etc. 652,494,766 2.67 503,637,923 2.52 416,787,433 2.66
Legal expenses 13,479,293 0.06 15,257,288 0.08 12,793,807 0.08
Postage, stamps and telecommunication etc. 111,417,653 0.46 94,161,200 0.47 85,909,537 0.55
Stationery, printing and advertisement etc. 267,547,822 1.09 198,119,152 0.99 148,458,980 0.95
Chief executive's salary & fees 5,280,000 0.02 5,280,000 0.03 5,280,000 0.03
Directors' fees & expenses 10,066,840 0.04 9,254,986 0.05 9,648,845 0.06
Shari'ah supervisory committee's fees & expenses 2,584,829 0.01 2,749,283 0.01 1,813,569 0.01
Auditors'fees 2,070,000 0.01 1,567,500 0.01 1,150,000 0.01
Charges on investment losses 0.00 0.00 0.00
Depreciation and repair to bank's assets 500,228,968 2.04 407,057,924 2.04 350,132,416 2.24
Zakat expenses 324,772,772 1.33 262,929,404 1.31 220,643,761 1.41
Other expenses 1,025,852,252 4.19 1,121,440,847 5.61 549,239,579 3.51
Total Operating Expenses 8,867,100,266 36.23 7,268,448,731 36.34 6,087,318,956 38.88
Profit/ (loss) before provision 15,608,244,338 63.77 12,731,630,127 63.66 9,569,695,070 61.12
Provision for investment & off balance sheet item 3,502,625,602 14.31 2,384,314,796 11.92 1,082,989,130 6.92
Provision for diminution in value of investments 0.00 0.00 0.00

Comparative Financial Statement Analysis for Year 2010 and year 2011
Consolidated Profit & Loss Account
Dec, 2010 Dec, 2011 Net Change Percentage Change

Operating income
Investment income 24,766,264,960 32,019,532,444 7,253,267,484 29.29
Profit paid on mudaraba deposits 14,471,890,918 18,401,218,085 3,929,327,167 27.15
Net investment income 10,294,374,042 13,618,314,359 3,323,940,317 32.29

Income from investments in shares & securities 490,416,014 331,004,637 -159,411,377 -32.51
Commission, exchange & brokerage income 3,997,732,016 5,297,455,786 1,299,723,770 32.51
Other operating income 929,424,233 876,633,643 -52,790,590 -5.68
Total Operating Income 15,711,946,305 20,123,408,425 4,411,462,120 28.08

Operating expenses
Salary & allowances 4,289,276,274 4,655,983,050 366,706,776 8.55
Rent, taxes, insurances, electricity etc. 419,306,643 507,063,897 87,757,254 20.93
Legal expenses 13,401,957 15,257,288 1,855,331 13.84
Postage, stamps and telecommunication etc. 86,280,529 94,267,115 7,986,586 9.26
Stationery, printing and advertisement etc. 149,122,194 198,418,476 49,296,282 33.06
Chief executive's salary & fees 5,280,000 5,280,000 0 0.00
Directors' fees & expenses 9,838,845 9,530,986 -307,859 -3.13
in shares
Other provisions 9,441,066 0.04 0.00 32,000,000 0.20
Total provision 3,512,066,668 14.35 2,384,314,796 11.92 1,114,989,130 7.12
Total profit/(loss) before taxes 12,096,177,670 49.42 10,347,315,331 51.74 8,454,705,940 54.00
Provision for taxation for the period 0.00 0.00 0.00
Current tax 6,525,837,929 26.66 5,476,469,040 27.38 3,994,262,716 25.51
Deferred tax 45,900,000 0.19 29,400,000 0.15 -3,028,685 -0.02
Net profit/ (loss) after tax 5,524,439,741 22.57 4,841,446,291 24.21 4,463,471,909 28.51
Shari'ah supervisory committee's fees & expenses 1,813,569 2,749,283 935,714 51.60
Auditors'fees 1,278,750 1,593,400 314,650 24.61
charges on investment losses
Depreciation and repair to bank's assets 350,619,785 409,590,979 58,971,194 16.82
Zakat expenses 220,643,761 262,929,404 42,285,643 19.16
Other expenses 560,302,836 1,128,991,237 568,688,401 101.50
Total operating expenses 6,107,165,143 7,291,655,115 1,184,489,972 19.40

Profit/ (loss) before provision 9,604,781,162 12,831,753,310 3,226,972,148 33.60
Provision for investments & off- balance sheet items 1,082,989,130 2,384,314,796 1,301,325,666 120.16
Provision for diminution in value of investments in shares 289,077,029 289,077,029
Other provisions 32,000,000 -32,000,000 -100.00
Total provision 1,114,989,130 2,673,391,825 1,558,402,695 139.77
Total profit/(loss) before taxes 8,489,792,032 10,158,361,485 1,668,569,453 19.65
Provision for taxation for the period
Current tax 4,007,123,511 5,504,252,091 1,497,128,580 37.36
Deferred tax 2,811,357 29,515,743 26,704,386 949.88

Net profit/ (loss) after tax 4,485,479,878 4,624,593,651 139,113,773 3.10
Net profit after tax attributable to: 4,485,479,878 4,624,593,651 139,113,773 3.10
Equity holders of IBBL 2,616,599,517 4,624,597,748 2,007,998,231 76.74
Non-controlling interest -4,097

Retained earnings from previous y€ar 2,624,924,708
Add: Net profit after tax (attributable to equity holders of IEBL) 4,485,479,878 4,624,597,748 139,117,870 3.10
Profit available for appropriation 4,485,479,878 7,249,522,456 2,764,042,578 61.62

Appropriation: 4,485,479,878 7,249,522,456 2,764,042,578 61.62
Statutory reserve 1,690,941,188 2,069,463,066 378,521,878 22.39
General reserve 177,938,721 430,484,615 252,545,894 141.93


Comparative Financial Statement Analysis for Year 2011 and year 2012
Consolidated Profit & Loss Account
Dec, 2011 Dec, 2012 Net Change Percentage
Change

Operating income
Investment income 32,019,532,444 43,672,225,941 11,652,693,497 36.39
Profit paid on mudaraba deposits 18,401,218,085 25,870,425,237 7,469,207,152 40.59
Net investment income 13,618,314,359 17,801,800,744 4,183,486,385 30.72

Income from investments in shares & securities 331,004,637 484,361,836 153,357,199 46.33
Commission, exchange & brokerage income 5,297,455,786 5,260,647,661 -36,808,125 -0.69
Other operating income 876,633,643 1,122,169,884 245,536,241 28.01
Total Operating Income 20,123,408,425 24,668,980,125 4,545,571,700 22.59

Operating expenses
Salary & allowances 4,655,983,050 5,961,421,881 1,305,438,831 28.04
Rent, taxes, insurances, electricity etc. 507,063,897 655,576,460 148,512,563 29.29
Legal expenses 15,257,288 13,479,293 -1,777,995 -11.65
Postage, stamps and telecommunication etc. 94,267,115 111,528,843 17,261,728 18.31
Stationery, printing and advertisement etc. 198,418,476 267,730,060 69,311,584 34.93
Chief executive's salary & fees 5,280,000 5,280,000 0 0.00
Directors' fees & expenses 9,530,986 10,066,840 535,854 5.62
Shari'ah supervisory committee's fees & expenses 2,749,283 2,584,829 -164,454 -5.98
Auditors'fees 1,593,400 2,168,000 574,600 36.06
charges on investment losses
Depreciation and repair to bank's assets 409,590,979 504,441,086 94,850,107 23.16
Zakat expenses 262,929,404 324,772,772 61,843,368 23.52
Other expenses 1,128,991,237 1,029,710,622 -99,280,615 -8.79
Total operating expenses 7,291,655,115 8,888,760,686 1,597,105,571 21.90

Profit/ (loss) before provision 12,831,753,310 15,780,219,439 2,948,466,129 22.98
Provision for investments & off- balance sheet items 2,384,314,796 3,502,625,602 1,118,310,806 46.90
Provision for diminution in value of investments in shares 289,077,029 30,969,670 -258,107,359 -89.29
Other provisions 9,441,066 9,441,066
Total provision 2,673,391,825 3,543,036,338 869,644,513 32.53
Total profit/(loss) before taxes 10,158,361,485 12,237,183,101 2,078,821,616 20.46
Provision for taxation for the period
Current tax 5,504,252,091 6,514,464,832 1,010,212,741 18.35
Deferred tax 29,515,743 45,964,788 16,449,045 55.73

Net profit/ (loss) after tax 4,624,593,651 5,616,753,481 992,159,830 21.45
Net profit after tax attributable to: 4,624,593,651 5,616,753,481 992,159,830 21.45
Equity holders of IBBL 4,624,597,748 5,616,751,549 992,153,801 21.45
Non-controlling interest -4,097 1,932 6,029 147.16

Retained earnings from previous y€ar 2,624,924,708 3,015,952,005 391,027,297 14.90
Add: Net profit after tax (attributable to equity holders of IEBL) 4,624,597,748 5,616,751,549 992,153,801 21.45
Profit available for appropriation 7,249,522,456 8,632,703,554 1,383,181,098 19.08

Appropriation: 7,249,522,456 8,632,703,554 1,383,181,098 19.08
Statutory reserve 2,069,463,066 2,419,235,534 349,772,468 16.90
General reserve 430,484,615 22,205,793 -408,278,822 -94.84
Dividend 2,594,592,000 3,202,467,840 607,875,840 23.43
Retained earnings 3,015,952,005 3,033,205,973 17,253,968 0.57

Consolidated Earnings Per Share 3.70 4.49 0.79 21.35

2011 Net Change 7.347.06 0.524.000.439.796 49.42 10.716 -3.233 15.529 149.29 27.462.989.123.770 -52.471.323.000 9.705.670 0.55 20.000 5.401.74 0.167 3.000 1.637 5.280.416.20 7.732. stamps and telecommunication etc.063.454.51 32.940.384.374.590 4.38 0.042 490.92 51.400.776 87.254 1.525.04 14.441. Legal expenses Postage.711.13 24.411.130 8.028.897 15.909 32.512.305 4.633.289.859 Percentage Change 29.294.532.274 419.786 876.983.377 1.845 32.000 4.296. taxes.000 9.288 94.331 7.918 10.317 -159.314.855.257.26 33.51 Comparative Financial Statement Analysis for Year 2010 and year 2011 Consolidated Profit & Loss Account Operating income Investment income Profit paid on mudaraba deposits Net investment income Income from investments in shares & securities Commission.960 14.267. insurances.280.264.685 4.00 -3.194 5.484 3.218.359 331.253.35 0.929.838.706.297.019.668 12.29 -32.066. printing and advertisement etc.986.957 86.408.469.276.282 0 -307.19 22.766.655.262.114.57 5.00 25.085 13.00 11.68 28.004.327.066 3.040 29.741 9.096.455.177.15 32.900.790.986 Total Operating Income Operating expenses Salary & allowances Rent.476 5.418.120 366.331 0.299.314. 2010 Dec.in shares Other provisions Total provision Total profit/(loss) before taxes Provision for taxation for the period Current tax Deferred tax Net profit/ (loss) after tax 6.757.994.446.306. Chief executive's salary & fees Directors' fees & expenses .280.00 0.723.471.315.837.267.84 9.02 28. exchange & brokerage income Other operating income Dec.66 0.890.050 507.15 24.122.51 -0.444 18.946.016 929.401. electricity etc.618.586 49.940 0.929 45.00 26.643 20.014 3.530.08 8.21 3.00 27.476.424.411.51 -5.643 13.425 4.12 54.93 13.841.291 2.463.997.115 198. Stationery.

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