Annual Report 2007 of LankaBangla Finance Limited

It is a broadly described annual report of LankaBangla Finance Limited in the year of 2007. LankaBangla Finance deposits taxes regularly to the National Exchequer by way of the collection of income taxes and VAT at sources from various payments and also deposits of income taxes of the company on its income. In 2007 the company has made a provision of Tk. 87.91 million. The consolidated earnings per share during the year under review were Tk. 6.01 compared to previous year’s Tk. 2.43. Lease and term finance disbursement made in 2007 was Tk. 2,000 million against that of Tk. 1,168 million in 2006. Lease and term finance portfolio also grew by 109.42% to Tk. 3,213 million from previous year’s Tk. 1,743 million. The company posted a pretax profit of Tk. 189.05 million in 2007, up 169.49% from Tk. 70.15 million of the year 2006 while net profit after tax increased by 62.51% from Tk. 70.39 million in 2006 to Tk. 114.39 million in 2007.

The Board of Directors has recommended a cash dividend of @15% and the stock dividend of @10%, i.e. 1 share for every 10 shares for the year 2007. 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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