It is a broadly described annual report of The City Bank Limited in the year of 2008. Provision for the current tax of Taka. 640,000,000 has been made @45% as prescribed by Finance Ordinance, 2008 of the accounting profit made by the Bank after considering some of the add backs to income and disallowances of expenditure as per Income Tax Ordinance and Rules, 1984. Total capital of the Bank was Taka. 3,953.50 million as at 31st December 2008 (Tk. 3,156.30 million in 2007). During the financial year, The Bank’s Net interest / net profit on investments Taka. 1,506,485,004. Total operating income Taka. 3,510,266,937. Total operating expenses Taka. 1,755,346,344. Total profit/(loss) before taxes Taka. 1,014,135,297.
Dividend income from shares is recognized during the period in which the board of directors is declared and ascertained. 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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