Annual Report 2010 of International Leasing and Financial Services Limited

It is a broadly described annual report of International Leasing & Financial Services Limited in the year of 2010. During the year the company paid Tk. 160.00 million as Tax expense to the government. By the end of the year, total outstanding deposit amount was Tk. 8,001.69 million. Out of that, Tk. 3,306.30 million (41.28%) has come from bank placements. During the year under report, it made net earnings of Tk. 216.12 million out of investment in shares. Most of the income came from capital gain from the sale of assets (Tk. 207.41 million): with remaining Tk. 8.70 million coming from dividend income. The company posted a pre-tax profit of Tk. 398.62 million in 2010, up by 202% from 2009. During the year 2010, the Company issued 2,182,125 ordinary shares of Tk. 100 each as bonus share. The shares were listed on Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on September 16, 2007, and traded at Tk. 2,456.00 each at Dhaka Stock Exchange Limited and Tk. 2,460.00 each at Chittagong Stock Exchange Limited at the end of the year 2010.

The Board of Directors at their 113^th meeting held on February 14^th, 2011 recommended to the shareholders a stock dividend (bonus shares) @60% amounting to Tk. 305,497,500 (i.e. 6 bonus shares for every 10 fully paid shares held at the record date) subject to the approval of the shareholders at the 15^th Annual General Meeting (AGM) scheduled to be held on March 30, 2011. 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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