IFIC BANK LIMITED

BALANCE SHEET (Unaudited) AS AT June 30, 2007

PROPERTY AND ASSETS
Jun-07
Taka
Cash :
3,096,312,683
Cash In hand (Including foreign
447,328,50
currencies)
1
Balance with Bangladesh Bank
2,365,156,73
(Including FC)
0
283,827,45
Balance with Sonali Bank
2

Dec-06
Taka
2,646,787,635
456,429,29
5
1,948,034,90
0
242,323,44
0

Balance with other banks and financial

Institutions :
5

In Bangladesh
Outside Bangladesh
Money at call and short notice
Investment :
Govemment
Others
Outside Bangladesh
Loans and advances :
Loans ,cash credits,overdrafts,etc.
Bills discounted and purchased :
Fixed assets including premises
furniture & fixt
Other assets

21.41
17.13

1,943,654,93

2,058,120,81

34.93

1,729,713,87

18.99

8
564,524,53

213,941,05

163.87

7
250,000,00

1,150,000,00

(78.26)

0
4,452,181,51

3,545,155,70

25.58

0
3,036,759,89

2,986,229,35

1.69

0
251,000,00

69,020,00

263.66

0
1,164,421,62

489,906,35

137.68

0
25,086,868,86

25,490,660,66
8

22,075,140,60
4

3,671,156,23
2

322,107,95
2

317,439,05
2

1,203,240,75
8

986,779,14
4

37,033,357,10
8

(1.58
)

21,819,504,43

3,011,728,25

Non banking assets

Total Assets

2,622,645,34

Growth
%
16.98
(1.99
)

36,080,477,13
4

1.17
(17.96)
1.47
21.94
2.64

Liabilities & capital :

Borrowing from other banks, financial
institutions an
2

22,838,55

291,294,33
0

(92.16)

22,838,55

In Bangladesh

Outside Bangladesh
Deposit and other accounts :

0
-

29,004,318,58

28,620,913,53

Current deposit and other accounts

291,294,33

7
3,896,776,62

4,529,219,49
3

480,635,72

Bills payable

560,858,60
9

6,016,739,95

Savings bank deposits

5,917,856,86
9

(92.16)

1.34
(13.96)
(14.30)
1.67

Bearer certifecates of deposit

18,610,166,28

Term deposits

17,612,978,56
6

6,089,728,56

Other liabilities

5,533,186,61
0

35,116,885,70

Total Liabilities

34,445,394,47
7

5.66
10.06
1.95

Capital / shareholders' equity :

406,386,00

Paid up capital

0
659,056,74

Statutory reserve

659,056,74
7

139,291,40

Other reserves

Proposed bonus share @ 10% (2003)

Proposed bonus shar

406,386,00

Proposed bonus share @ 24% (2006)

Surplus in profit and loss account
Total shareholders' equity
Total liabilities and shareholders'
equity
CONTRA ENTRIES
Off balance sheet items :
Contigent Liabilities

0
40,638,60

@ 10%
(2004) 0

Proposed bonus share @ 10% (2005)

139,291,40
40,638,60
0

44,702,46

44,702,46
0

49,172,70
6

49,172,70
6

129,815,94
4

129,815,94
4

447,407,54
4

166,018,80
0

1,916,471,40
1

1,635,082,65
7

37,033,357,10
8

36,080,477,13
4

Acceptances and Endorsements

6727017897

Letter of guarantee

2869045218

6,450,414,78
0
2,811,568,83
4

169.49
17.21
2.64

4.29
2.04

Irrevocable letters of credit

6269433732

Bills for collection

1327867730

Other commitments
Forward assets purchased & forward
deposit placed
Total contingent liabilities

5,733,804,24
3
1,525,625,91
8

17,193,364,577

16,521,413,77
5

9.34
(12.96)

4.07

IFIC BANK LIMITED

Profit and Loss Account for the half year ended June 30,2007
(Provisional & Unaudited)
June,2007
Taka
Interest income
Less: interest paid on deposits .
and borrowings etc
Net interest income
Income from investment
Commission,exchange &
brokerage
Other operating income

Total operating income

Salary and allowances
Rent, taxes, insurance,lighting &
travelling
Legal expenses
Postage, stamp, telegram and
telephone
Auditors' fee
Printing,stationery &
advertisement
Charges on loan loss
Managing Director's salary
Directors' fee
Repair,maintenance &
depreciation
Other expenses
Total operating expenses
Profit before provision
Provision for loans and advances
Profit before tax

June,2006
Taka

Growth
%

1,337,113,050

1,184,393,309

964,949,124

758,922,250

372,163,926

425,471,059

12.89
27.15
-12.53

212,033,628

97,376,807

117.75

351,576,703

284,898,155

23.40

130,843,093

115,288,316

13.49

694,453,424

497,563,278

39.57

1,066,617,350

923,034,337

15.56

321,733,867

302,462,386

6.37

86,338,895

77,589,399

11.28

860,851

694,489

23.95

23,519,319

20,463,714

14.93

6,750

82,250

20,879,739

13,447,019

55.27

1,440,000

1,290,000

11.63

492,000

424,500

15.90

63,501,224

60,650,200

4.70

33,945,820

22,488,010

50.95

2,282,987

555,001,452
511,615,898
511,615,898

499,591,967

11.09

423,442,370

20.82

200,000,000

-100.00

223,442,370

128.97

Provision for tax

230,227,154

100,549,066

128.97

Profit after tax

281,388,744

122,893,304

128.97

Appropriation :

Statutory reserve

General reserve

Dividends etc

Retained surplus

281,388,744

122,893,304

128.97

Half yearly EPS

69.24

30.24

128.97

IFIC BANK LIMITED

CASH FLOW STATEMENT
For the half- year ended June 30,2007 (Unaudited)
June, 2007
Taka
Cash flows from
A)
operating activities
Interest receipts in
1,337,113,050
cash
Interest payments
Dividents receipts
Fee & commission
receipts in cash
Recoveries on loans
previously wrriten off
Cash paments to
employees
Cash payments to
suppliers
Income taxes paid

(964,949,124)

June, 2006
Taka

1,184,393,309
(758,922,250
)

Growth
%

12.8

27.1

351,576,703

284,898,155

23.4

43,937,209

54,748,220

-19.7

(323,173,867)
(70,117,734)

Receipts from other

operating activities
298,939,512
(item -wise)
Payments for other
operating activities
(186,177,499)
(item -wise)
Operating profit before
487,148,250
changes in operating
assets and
liabilities
Increase/(decrease) in operating assets & liabilities :
Statutory deposits
Purchase/sale of trading
securities
Loans and advances to
other banks
Loans and advances to
153,417,382
customers
Other assets (item
104,030,546
-wise)
Deposits from other
17,945,000
banks
Deposits from
365,460,052
customers

(303,752,386
)

6.3

(60,039,75
4)
202,470,530
(195,839,582
)
407,956,242

(2,334,039,687
)
72,124,205
(23,374,00
0)
3,716,334,264

16.7

47.6

-4.9

19.4

-106.5

44.2

-176.7

-90.1

Other liabilities account

of customers
Trading liabilities
(Money payable)
Other liabilities (item
-wise)
Net cash from
operating activities
B)

C)

Cash flows from

investing activities
Proceeds from sale of
securities
Payments for purchase
of securities
Purchase/sale of
property,plant &
equipment
Purchase/sale of
subsidiary
Net cash from investing
activities
Cash flows from
financing activities
Receipts from issue of
loan capital & debt
security
Payments for
redemption of loan
capital & debt securi
Receipts from issue of
ordinary share
Dividends paid
Net cash from
financing activities

Net increase/dcrease in
D) cash and cash
equivalent
Effects of exchange rate
chenges on cash and
cash-e
Opening cash and cash
E)
equivalent
F) Closing cash and cash

(260,000,000)

160,202,777

-262.2

280,907,903

20,516,911

1269.1

661,760,883

1,611,764,470

-58.9

50,000,000
(4,912,087)

(44,752,18
6)

-89.0

(55,495,270)
(10,407,357)

(8,455,778)

(8,455,778)

(44,752,18
6)

(16,272,36
8)

(16,272,36
8)

1,130,045,998

-76.7

-48.0

-7044.5

1,958,696,158

-42.3

8,425,671,920

6,214,313,341

35.5

9,555,717,918

8,173,009,499

16.9

equivalent (D+E)
Cash & cash
equivalent
Cash in hand
Balance with
Bangladesh Bank
Balance with Sonali
Bank
Balance with other
Banks & financial
institutions
Money at call & short
notice
Treasury bills
Reverse repo
Prize bond

447,328,501

427,242,262

4.7

2,365,156,730

1,630,974,687

45.0

283,827,452

300,563,355

-5.5

2,622,645,345

1,817,776,945

44.2

250,000,000

830,000,000

-69.8

3,032,236,590
550,000,000
4,523,300
9,555,717,918

2,054,460,150
1,100,000,000
11,992,100
8,173,009,499

47.5

(62.28
16.92

Statement of changes in Equity (Unaudited)

For the half-year ended June 30,2007

Paid up
Particularescapital
Taka

Proposed Bonus
share
Taka

Statutory reserve

Balance as
406,386,00
at
264,329,710
0
01.01.2007
Net Profit
for the half
year ( after
tax)

Taka

Balance as
406,386,00
at
264,329,710
0
30.06.2007
Balance as
at
406386000
30.06.2006

134513766

Other
reserves
Taka

Profit & loss A/c

Total

Taka

Taka

139,291,40
166,018,800
0

1,635,0

281,388,744

281,3

139,291,40
447,407,544
0

1,916,4

537498725 119133804 286,458,118

1483

659,056,747

659,056,747

_________

HALF YEARLY CASH FLOW STATEMENT

For the period ended on June 30,2001
June
2001
Cash from operating
activities
Interest and commission
received
Interest
paid

805,020
(537,900)

Received from other operating activities

220,341

Cash paid to employees

(167,117)

Cash paid to suppliers

Cash paid for other poerating activities

(4,495)
(94,023)
________

Operating profit before changes in current

221,826

assets and liabilities

Increase/(decrease) in current assets :
Treasury
bills
Loans and advances

1,051,423
(348,234)

Other current assets

504,691
________
1,207,880

Increase/(decrease) in current liabilities :

Current
liabilities
Customer
deposits
Certificates of deposit
Cash received from operating activities
before
income tax
Net cash received from operating activities

(377,406)
178,218
(134,292)
________
(333,480)
1,096,225

Cash flow from investment activities

Dividend
received
Interest
received
Investment in other financial instruments

(101,876)

Securities purchased
Assets,establishment and machionery
purchase

2,638
_______

Net cash received from investments

(99,238)

Cash flow from financial activities

Share money deposit
Increase/(decrease) in long term loans

(53,097)
______

Net cash received from financial activities

Net increase in cash and
cash

(53,097)

equivalent (A+B+C)

943,890

Opening cash and cash equivalent

Closing cash and cash equivalent (D+E)

4,260,083
o1.

5,203,973

Note 01. Cash and cash equivalents at the

end of the
year
Cash in
hand
Balance with Bangladesh Bank & Sonali
Bank
Balance with other
Banks
Money at call & short
notice

288,729
1,440,794
1,779,450
1,695,000
_________
5,203,973
_________
_________