It is a broadly described annual report of MIDAS Financing Limited in the year of 2015. The Company gained consolidated profit after tax Tk. 4.25 Crore for the year ended on 30th June 2015 which was Tk. 37.07 Crore in last year. In addition, the portfolio of loans and advances increased to Tk. 501.72 Crore and registered growth of 4.37% from last year and deposit portfolio increased 5.75%. Total asset (consolidated) also increased 2.34% compared to last year, from Taka. 6,220.42 (in 2013-14) million to Taka. 6,365.84 million. In last year the Company’s sustained net loss after tax was Tk. 37.07 Crore due to increased provision of Tk. 27.58 Crore, gross loss of Tk. 0.91 Crore and the remarkable drop in income from investment in securities.
The Board of Directors was unable to declare any dividend to the shareholders for this year (2014-2015) because of having the cumulative loss of Taka. 47.07 Crore. 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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