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Balance Sheet (December 31, 2008)

ASSETS 2008 2007


Rs. (000) Rs. (000)

Cash and balances with treasury banks 32,687,335 29,436,378


Balances with other banks 21,581,043 18,380,738
Lendings to financial institutions 3,315,500 3,452,059
Investments 75,953,238 88,491,564
Advances 192,671,169 171,198,992
Fixed assets 13,773,293 11,922,234
Deferred tax assets - -
Other assets 8,989,186 6,013,097
158,848,388 154,834,534
LIABILITIES
Bills payable 3,452,031 4,138,243
Borrowings 13,690,222 21,230,697
Deposits and other accounts 300,732,858 273,173,841
Sub-ordinated loans 2,571,169 3,220,858
Liabilities against assets subject to finance lease - -
Deferred tax liabilities 208,465 1,379 809
Other liabilities 11,291,280 9,531,860
331,946,025 312,675,308
NET ASSETS 6,583,097 5,261,484
REPRESENTED BY
Share capital 7,995,000 6,500,000
Reserves 3,166,056 2,414,833
Unappropriated Profit 1,204,979 860,300
14,608,523 13,766,673
Surplus on revaluation of assets 2,436,216 2,453,171
17,044,739 16,219,844

Profit and Loss Account (Year ended December 31, 2008)


2008 2007
Rs. (, 000) Rs. (, 000)

Mark-up/return/interest earned 31,046,583 25,783,871


Mark-up/return/interest expensed 20,331,194 16,620,963
Net mark-up/ interest income 10,715,389 9,162,908

Provision against loans and advances 2,035,997 2,370,837


Provision for diminution in value of investments 1,479,062 -
Bad debts written off directly 28,298 -
3,5433,57 2,376,711

Net mark-up/ interest income after provisions 7,172,032 6,786,197

NON MARK-UP/INTEREST INCOME

Fee, commission and brokerage income 2,539,321 2,429,599


Dividend income 300,943 64,722
Income from dealing in foreign currencies 914,845 474,510
Gain sale of securities 424,220 2,059,793
Unrealized loss on revaluation of investments
Classified as held for trading (181,571) (21,530)

Other income 1,247,669 1,031,731


Total non-markup/interest income 5,245,427 6,038,466
12,417,459 12,824,633
NON MARK-UP/INTEREST EXPENSES

Administrative expenses 10,715,389 9,162,908


Provisions against off-balance sheet obligation 28,582 6,959
Other charges 122,758 9,565
Total non-markup/interest expenses 10,622,739 8,289,111
1,794,720 4,535,552
Extra ordinary/ usual item - -

PROFIT BEFORE TAXATION 1,794,720 4,535,522

Taxation
– Current 1,730,051 1,726,810
– Prior (221,791) -
– Deferred (1,014,835) (321487)
493419 1405323
PROFIT AFTER TAXATION 1,301,301 3,130,229
Unappropriated profit brought forward 4,851,840 2,823,072
Transferred from surplus on revaluation
Of fixed assets 24,586 24,585
Profit available for appropriation 6,177,727 5,977,787

(Rupees)
Basic / Diluted earning per share 1.63 3.92
Cash Flow Statement (Year ended December 31, 2008)

CASH FLOW FROM OPERATING ACTIVITIES 2008 2007


Rs. (, 000) Rs. (, 000)

Profit before taxation 1,794,720 4,535,552


Less: Dividend income (300943) (64,722)
1,493,777 4,470,830
Adjustments:

Depreciation 1,205,825 956,947


Amortization 105,751 39,628
Provision against loans and advances (net) 2,035,997 2,370,867
Provision for diminution in value of Investments 1,479,062 -
Provision against off-balance sheet obligations 28,582 6,959
Unrealized loss on revaluation of investments
Classified as held for trading 181,571 21,530
Bad debts written off directly 28,298 5,840
Gain on sales of fixed assets (77,997) (13,928)
Provision for gratuity 142,926 90,289
5,130,015
3,478,136 6,623,792
7,948,966 (Increase)/ Decrease in operating assets
Lendings to financial institutions 2,454,477 7,412,388
Help for trading securities 519,202 282,444
Advances (23,536,472) (23,576,378)
Others assets (2,073,384) (819,316)
(23,536,177) (16,700,862)

Increase/ (Decrease) in operating liabilities


Bills Payable (686,212) 1,047,108
Borrowings (7,540,475) 12,836,567
Deposits and deposit accounts 25,559,017 33,664,450
Other liabilities 1,433,984 1,458,532
20,766,314 49,006,657
3,853,929 40,254,761
Gratuity paid (142,926) (90,289)
Income tax paid (1,211,397) (519,147)
Net cash flow from operating activities 2,499,606 39,645,325

CASH FLOW FROM INVESTING ACTIVITIES

Net investments available in sales and securities 12,582,621 (25,815,042)


Net investments in held to maturity securities (705,793) (4,335,842)
Investments in associated companies (1,687,218) (1,554,071)
Dividend income received 298,238 57,201
Investment in operating fixed assets (3,308,515) (2,430,028)
Proceeds from sales of fixed assets 223,967 28,049
Net cash from/ (used in) investing activities 7,403,300 (34,049,733)

CASH FLOW FROM FINANCING ACTIVITIES

Redemption of sub-ordinated loans (649,689) (1,248)


Dividend paid (975,000) -
Net cash used in financing activities (1,624,689) (1,248)

Exchange difference on translation of the net investment in foreign branches 490,963 39,254
Increase in cash and cash equivalents 8,769,180 5,633,598
Cash and cash equivalents at beginning of the year 48,814,698 43,181,100
Cash and cash equivalents at end of the year 57,583,878 48,814,698

1. Profit expense ratio (PER) = profit/total expense


2. Loan deposit ratio (LDR) = Loan/deposit
3. Current ratio = Current asset (CA) / current liability (CL)
4. Current asset ratio (CAR) = current asset/total asset.
5. Debt equity ratio (DER) = Debt/equity capital.
6. Debt to total asset ratio (DTAR) = Debt/total asset
7. Equity multiplier (EM) = Total assets/share capital.
8. Loan to deposit ratio (LDR) = loans/deposit.
9. Long term loan ratio (LTA) = long term loan/total loans.
10. Government Bond Investment (GBD) =Deposit invested in government bond/Total Deposit
11. Return on asset (ROA) = Profit after tax/ total asset
12. Return of equity (ROE) = Profit after tax/ equity capital
13. Profit expense ratio (PER) = profit/total expense

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