Professional Documents
Culture Documents
Investment:
investment in government securities:
T-bills 2,331,437,098 1,088,952,753
BB bills - -
T-bonds 492,985,613 2,221,538,214
Mergin - -
Prize Bonds 7,860,900 -
15 Years debentures 32,681,848 301,433,063
Other investment 145,482,283 141,444,513
total 3,010,447,742 3,753,368,543
Shareholder's Equity
Share Capital:
Issued,Subscribed & fully paid-up capital 975,039,810 1,201,788,566
Statutory Reserve 625,412,398 877,685,076
Other Reserve 46,577,688 47,508,557
Profit & loss account-Retained Earning 10,312,214 7,826,980
TOTAL SHAREHOLDER'S EQUITY 1,657,342,110 2,134,809,179
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 26,114,129,566 32,615,007,792
2005 2006
Interest Income:
Interest on Loans & Advances 2,024,020,673 2,934,223,518
Interest on balances with banks & financial institutions 48,465,630 77,906,007
Total 2,072,486,303 3,012,129,525
less: 1,463,857,337 2,047,143,589
Net Interest income 608,628,966 964,985,936
Income from investment 240,735,656 265,168,893
Income from commission 226,478,385 248,353,446
Income from exchange 259,917,222 225,182,073
Income from Brokerage 8,757,822 15,495,893
Other operating Income 123,626,186 135,660,233
Total Operating Imcome 1,468,144,237 1,854,846,474
Salaries & allowances 258,782,718 367,663,793
Rent 24,053,655 31,267,579
Rates & Taxes 1,151,282 1,227,231
Insurance 10,833,019 14,099,329
Electricity 9,412,501 10,620,824
Legal Expenses 4,048,205 4,025,901
Postage,Stamp & telecommunication 17,530,028 20,727,648
Stationary,printing &advertisement 16,944,071 19,261,704
Managing Director's Salary & allowances 2,260,000 2,730,000
Director's Fees 827,500 1,185,500
Audit Fees 180,000 120,000
Depreciation & Repair of Bank's assets 50,059,352 63,733,131
Other Expenses 53,669,380 61,808,842
Total Operating Expense 449,751,711 598,471,482
Profit before provisions 1,018,392,526 1,256,374,992
Provision for loan & advances:
Specific Provision 257,994,954 130,784,000
General Provision 63,239,680 79,957,086
Provision for off-balance sheet exposures - -
Provision of Gratuity - -
Provision for Investment Fluctuation in Shares 12,912,262 -
Provision for other Assets (3,404,821) 321,771
Total provisions 330,742,075 211,062,857
Profit after provision for Loans & Advances & other provisions 687,650,451 1,045,312,135
Contribution to NCC Bank Foundation - -
Profit Before tax 687,650,451 1,045,312,135
Provision for tax 335,518,278 577,293,262
Profit after tax for the year 352,132,173 468,018,873
Add: Balance of pprofit brought forward from last years 14,257,143 10,312,214
Total Profit available for distribution 366,389,316 478,331,087
Appropriations
Statutory reserve 20% of net profit before tax 137,520,090 211,302,614
General Reserve 218,507,012 270,402,427
356,027,102 481,705,041
Retained earnings carried forward 10,312,214 7,826,980
Weighted average number of outstanding shares 13,230,318,201 19,075,843,750
Earnings per share(EPS) 36.11 39.88
2005 2006
A) Cash flows from operating activities
Interest received in cash 2,295,921,649 3,282,837,515
Interest paid by cash 1,343,300,714 1,866,925,400
Dividend received 4,828,623 4,986,665
Fees & Commission received in cash 239,242,997 261,348,330
Receives of loans previously written off 16,333,837 7,086,252
Cash paid to employees (258,215,838) (370,348,353)
Cash paid to suppliers (22,470,931) (23,797,279)
Income taxes paid (227,210,157) (618,908,571)
Received from other operating activities 379,624,923 358,795,292
Paid for other opeerating activities (149,497,041) (178,428,189)
Operating profit before changes in operating assets & liabilities 3,621,858,776 4,590,497,062
Increase/(Decrease) in Operating Assets & Liabilities
Purchase-sale of trading securities 1,370,503,313 (486,068,256)
Loans & advances to other banks - -
Loans & advances to customers (5,321,976,904) (4,145,227,164)
Other assets 220,185,368 552,044,891
Deposits from other Bannks/Borrowings 895,000,000 (585,000,000)
Deposits from customers 4,513,982,406 7,254,125,949
Other liabilities account of customers (744,223,236) (632,896,075)
Trading liabilities - -
Other liabilities (95,243,266) 103,963,636
Net cash received from operating activities 4,460,086,457 6,651,440,043
Profitability Ratios
Activity Ratios
Long Term Debt to Assets Ratio (Long Term Debt/Total Assets) 0.809898
Times Interest Coverage Ratio (Earnings Before Interest and Tax/Interest) 0.758127
0.01 6.01 - -
0.228406 0.031898 - -
0.771594 0.968102 1 1
Valuation Assumptions
Valuation Date 8-Dec
Discount Rate 0.0%
Terminal Value
Terminal Switch 2
EBITDA Exit Multiple 6.0 x
Terminal Growth Rate 0.0%
Tax Rate 200.0%
EBITDA
% of Sales
1,059,035,463 1,059,035,463
81% 0.81 Average Gross margin
910,637,835 910,637,835
0.70 Average as % of sales
-
0.00 Average as % of sales
-
910,637,835 910,637,835
148,397,628 148,397,628
11%
1,655,427,319 1,655,427,319
1,803,824,947 1,803,824,947
139%
40,809,348 -
107,588,281 148,397,628
1,655,427,319 1,655,427,319
76,628 76,628
- -
1,762,938,971 - 1,803,748,319
ac
1,762,938,971 -
Terminal growth rate
2005 2006 2007 2008 2009 Mean
Net Profit 0 0 0 0 0
Stockholders equity 0 0 0 0 0
ROE #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Dividend 31053819 1181824 43591800 39113669 17066641
Percentage of Dividend on net profit #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
(1 - payout ratio) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Sustainable growth/Terminal growth rate #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Terminal growth rate
2005 2006 2007 2008
Net Profit 45448000 49916000 1.69E+08 1.9E+08
Stockholders equity 2.2E+08 250751000 3.64E+08 5.63E+08
ROE 0.21 0.20 0.47 0.34
Dividend 16500000 18750000 18750000 33750000
Percentage of Dividend on net profit 0.36 0.38 0.11 0.18
(1 - payout ratio) 0.64 0.62 0.89 0.82
Sustainable growth/Terminal growth rate 0.13 0.12 0.41 0.28
2009 Mean
2.11E+08
7.35E+08
0.29
39375000
0.19
0.81
0.23 23.61%
(TK. '000) 2005
Accounts: 2005
Current Assets
Current Liabilities
Net working capital
Net changes in working capital
0.00
Competitor in the Industry -0.01
Market Change 0.01
Customer Need 0.02
Raw Material Market 0.02
Output Market 0.05
Government Regulation 0.01
Changes in other Situations 0.01
Influence of other factors 0.005
YearlySales Growth #DIV/0!
Predicted sales growth #DIV/0!
Assume that all other factors are not affected by the external and internal influences
Depriciation Calcul