Directors Report 2010 of Shahjalal Islami Bank Limited

It is a broadly described directors report of Shahjalal Islami Bank Limited in the year of 2010. In the year 2010, Bank has paid Taka. 484.03 million to Government exchequer as source tax, salary tax, VAT, excise duty and other tax & VAT realized against various services. The Authorized Capital of the Bank is Tk. 6,000 million and paid-up capital of the Bank is Tk. 3,425 million as on 31^st December 2010. Total equity was Tk. 7,747 million as on 31^st December 2010. The total deposit of Shahjalal Islam’ Bank Limited stood at Tk. 62,964.95 million as on 2010 as against Tk. 47,459.23 million in 2009. The bank’s total assets posted a 33.74% increase in 2010, rising from Tk. 58,920.90 million to Tk. 78,800.40 million. Total Investment Income of the Bank as at 31^st December 2010 was Tk. 7,521.26 million as against Tk. 5,939.90 million of the preceding year registering 26.62% growth over last year, which was 79.10% of the total income against 83.46% of 2009. During the year 2010, The Banks Operating Profit Tk. 5,980.18 million. Net Profit before taxation Tk. 3,528.71 million. Net Profit after Tax for the year Tk. 2,072.34 million.

The Board of Directors of the Bank has recommended dividend @30% i.e. to issue 03 shares as against holding of every 10 shares to its shareholders for the year 2010. 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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