Annual Report 2011 of LankaBangla Finance Limited

It is a broadly described annual report of LankaBangla Finance Limited in the year of 2011. During the year 2011 the Company paid Tk. 306.29 million as advance income tax and withholding tax and made tax provision of Tk. 444.98 million which represents the company’s commitment to contribute to the economic development of the country. Total asset of the company increased from Taka. 19,322.24 million in 2010 to Taka. 22,380.00 million in 2011. Loans & advances to the economy increased from Tk. 9,472.17 million to Taka. 10,437.82 million in 2011. In 2011, LankaBangla earned the consolidated pretax profit of Tk. 1,304.04 million, decreased 44% over that of the previous year. The consolidated net profit after tax stood at Tk. 791.10 million registering a negative growth of 53% compared to 2010. The return on average equity remained 15.05% during 2011 and Earnings per Share (EPS) stood at Tk. 9.61 NPL ratio is 7.23% which has improved from 7.90% in 2010.

The Board of Directors has declared @45% Interim Cash dividend i.e. Taka 4.50 per ordinary share for the year 2011 in the 65^th board meeting held on 19^th December 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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