Annual Report 2010 of LankaBangla Finance Limited

It is a broadly described annual report of LankaBangla Finance Limited in the year of 2010. During the year LankaBangla made payment of Taka. 254.53 million as advance tax and withholding tax and made tax provision of Taka. 491.78 million which represents the company’s commitment to contribute to the economic development of the country. Operating Profit in 2010 reached BDT 2,331.1 million which is 156.7% higher than the previous year. In 2010 LankaBangla posted the consolidated pretax profit of Tk. 2,331.10 million, registering a growth of 156.71% over that of the previous year. The consolidated net profit after tax stood at Tk. 1,700.15 million, indicating a growth of 128.49% over the previous year. Therefore Earnings per Share (EPS) has increased to BDT 28.99 in 2010 from BDT 12.09 in 2009. In 2010 Return on Equity (ROE) and Return on Asset (ROA) stood at 34.77 percent and 33.16 percent respectively.

The Board of Director in its 68^th Meeting held on 15^th February 2011 has recommended @55% Stock Dividend for the year ended 31^st December 2010 for placement before shareholder at 14^th Annual General Meeting of the company scheduled to be held on 27 March 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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