Annual Report 2009 of LankaBangla Finance Limited

It is a broadly described annual report of LankaBangla Finance Limited in the year of 2009. During the year the company made payment of Tk. 88.45 million as Advance Tax and Withholding tax of and made a tax provision of Tk. 165.14 million which represents the company’s commitment to contribute to the economic development of the country. The company registered an operating profit of BDT 877.84 million in 2009 compared to Tk. 397.29 million in 2008 making a growth of 120.96%. The net profit of the company as of 31^st December 2009 stood at BDT 638.15 million compared to previous year’s BDT 252.82 million making the growth of 152.41 %. Operating expense increased by 50% from BDT 119.46 million in 2008 to BDT 179.6 million in 2009. The consolidated EPS of 2009 was Tk. 16.81 compared to Tk. 8.53 of last year. Full-year consolidated Net Interest Income increased 73.45% to Tk. 413.10 million, Lease & Loan portfolio rose by 35% to Tk. 7,717,90 million as LankaBangla continued to be supportive of customers’ financing needs during the year. Fees based income rose by 81% to Tk. 939.39 million.

The Board of Directors has proposed to pay Interim stock dividend @40.85% out of the profit earned by the company during the year 2009. 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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