Annual Report 2011 of International Leasing and Financial Services Limited

It is a broadly described annual report of International Leasing & Financial Services Limited in the year of 2011. During the financial year, the company paid Tk. 52.87 million as Tax expense to the government. Total revenue in the first nine months was Tk.660,630 million, which is 23.4 percent higher than that of last year. Total expenditure projected in the national budget for 2010-11 was Tk. 1,321,700 million (16.9 percent of GDP), out of which non-development expenditure was Tk. 971,700 million (12.1 percent of GDP) and annual development expenditure was Tk. 380,000 million (4.9 percent of GDP). By the end of the year, total outstanding deposit amount was Tk. 7,939.32 million. Out of that, Tk. 2,100.00 million (26.45 percent) has come from bank placements. Overall, export stood at USD $18243.24 million registering 40.88 percent growth in the first ten months of 2010-2011. In the first 9 months of 2011, the import expenditure stood at USD $24,168.2 million registering a growth of 40.59 percent. Total portfolio for the year stands at Tk. 14,969.82 million. The company posted a net profit of Tk.98.83 million in 2011.

The Board of Directors at their 129^th meeting held on March 06^th, 2012 recommended to the shareholders a stock dividend (bonus shares) @ 5% amounting to Tk. 81,466,000 (i.e. 1 bonus shares for every 20 fully paid shares held at the record date) subject to the approval of the shareholders at the 16^th Annual General Meeting (AGM) scheduled to be held on April 22^nd, 2012. 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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