sibl annual report 2012...annual report 2012 v5standard disclosure checklist to the key sections of...
TRANSCRIPT
1 Annual Report 2012
2 Social Islami Bank Limited
3 Annual Report 2012
Standard Disclosure Checklist 5Letter of transmittal 9SIBL Brand Values 10Our Vision 11Our Mission 12Strategic Objectives and commitments 13Code of Conducts and ethical principles 14Corporate profile 16Milestones 18
Board and Committees 19(i) Founder of the Bank 20(ii) Sponsors of SIBL 21(iii) Board of Directors 22(iv) Directors’ Profile 23(v) Executive Committee 26(vi) Audit Committee 26(vii) Shariah Supervisory Committee 26
Management & Committees 27(i) Present Management Team 28(ii) Core Decision Making Committee 29(iii) Asset Liability Committee 29(iv) Tender Evaluation Committee 29(v) MRS (Management Reporting System) Committee 30(vi) Investment Committee 30(vii) MANCOM 30
Functions of Social Islami Bank Limited 31Corporate Structure 32 Products and Services 34Media Accolade 35
Stakeholders’ Information 36(i) Capital Pattern of SIBL 37(ii) Pattern of Shareholding 37(iii) Distributions of Shareholder by holding in 2012 38(iv) Shares held by the Directors in 2012 38(v) Financial Calendar 39
Analysis & Value Added Statements 40(i) Performance of the Bank 41(ii) SIBL at a Glance 42(iii) Graphical Presentation of SIBL 43(iv) Report & Statements of Value addition and its Distributions. 46(v) Economic Value Added (EVA) Statements 48(vi) Market Value Added (MVA) Statements 49
Responsibility Statements 49Chairman’s Foreword 50From the Desk of the Managing Director 54Management report & Analysis 58Competence Recognised 59Report of the Board of Directors 61Compliance Report under Condition no: 7.00 of BSEC 99The Report of Audit Committee of the Board 106Report on Risk Management 107 Market Disclosure under Pillar-III of BASEL-II 11017th Annual General Meeting Highlights 121SIBL Events 123Corporate Finance 131SME Finance 132Promoting Sports 133Report of the Shariah Supervisory Committee 135
Auditors’ Report and financial statements to the Shareholders for the year ended 31st December 2012 136SIBL Network 220Notice of the 18th Annual General Meeting 225Form of Proxy 227
CONTENTS
4 Social Islami Bank Limited
5 Annual Report 2012
Standard Disclosure Checklist to the key sections of the Annual Report 2012
Items Ref. Page No
Corporate Objectives, Values & Structure
Clarity and Presentation
Vision and Mission 11,12
Overall Strategic Objectives 13
Core Values and Code of Conduct / Ethical Principles 10,14,15
16
23-26
Management Report / Commentary and Analysis including Director’s Report/Chairman’s Review/CEO’s Review etc.
41, 58
67-80, 87-97
78, 107-109
58
Social Responsibility initiatives (CSR) 93-96
75-76
health and safety) 89
78
Appropriateness of Discloser of Accounting policies and General Discloser
150-158, 218-219
166
74
166
Segment Information
n.a.
6 Social Islami Bank Limited
Items Ref. Page No
Turnover
n.a.
Financial Statements
140
82, 205
80, 146
144
146
148
Disclosures of types of Share Capital 211
147
139-143
151
150-219
Information about Corporate Governance
80-85
82, 106
14-15
26, 81
88
16
37-39
75-76, 91-96
49, 58, 83
49, 106
18
Stakeholders Information
37-38
38, 85
7 Annual Report 2012
Items Ref. Page No
Graphical /Pictorial Data
Earnings per Share
43-45
Horizontal/Vertical Analysis including the following
Total Revenue
43-45
EPS
Statement of Financial Position (Balance sheet)
179-182
207
149
58
97
Price Earning ratio 45
Current ratios 58
58
58
Statement of Value Added and its Distribution
46-49
Shareholders as Dividend
Retrained by the entity
8 Social Islami Bank Limited
Items Ref. Page No
Additional Disclosures
58
Human Resource Accounting
88
Disclosure of Ratings given by various rating agencies 42, 82
169-171
149
112-116
Business Ratio / Information
70,160
45
Return on Average asset 43
45
146
88
68
70
Dividend Cover Ratio 45
42
168
146, 169-170
Disclosure under regulatory guidelines 99-105, 110-120
163-166
n.a.
n.a.
220-224
9 Annual Report 2012
Subject:
st
Md. Humayun Kabir, ACS
10 Social Islami Bank Limited
Honestyregulators, shareholders and others.
Accountability-accountable to the
Transparency-transparent in each and
Flexibility
Innovation-continuous innovative idea
products and services.
Reliability-developing a wide scale public
Security-protecting assets and services
Technology-providing upgraded technological
11 Annual Report 2012
12 Social Islami Bank Limited
13 Annual Report 2012
Our Strategic Objectives
resources.
To invest in the priority sector for the overall
Ensure best CSR (Corporate Social Responsibilities) practices.
Our Commitments
To the Shariah
To the Regulators
To the Shareholders
Strategic Objectives & Commitments
14 Social Islami Bank Limited
Code of Conduct & Ethical PrinciplesCode of Conduct for the Employees
Adhere to the Shariah Principles.
their positions and titles,
15 Annual Report 2012
for the trading purposes.
16 Social Islami Bank Limited
Chartered Accountants
17 Annual Report 2012
rd
th
18 Social Islami Bank Limited
Milestones
Starting of 1st
1st
2nd
3rd
Opening of 50th
a) b)
Opening of 75th
Opening of 86th
19 Annual Report 2012
Founder of the Bank
Board of Directors
Executive Committee
Audit Committee
Shariah Supervisory Committee
Board & Committees
20 Social Islami Bank Limited
Founder of the Bank
The Architect of 'Three Sector Banking Model'
Prof. Dr. M.A. Mannan
21 Annual Report 2012
Foreign Sponsors
1. 1. Prof. Dr. M. A. Mannan, MA (Econ) (Michigan), Ph.D.
2. 2.
3. 3. Dr. Md. Jahangir Hossain
4. 4.
5. 5.
6. 6.
7. Dr. Abalet Djabiev 7.
8. 8.
9.
10.
11.
12.
13. Mr. Abdul Awal Patwary
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30. Mr. Sadat Sobhan
31.
22 Social Islami Bank Limited
Board of Directors
23 Annual Report 2012
Chairman
14.11.2012 in the 277th
Alhaj Sk. Mohammad Rabban Ali Vice Chairman
years. Mr. Ali has widely traveled in several countries in connection with business and participated in different trade fairs. Currently he is the Managing Director of
Mr. Md. Sayedur Rahman Vice Chairman
and engaged in various social activities in the country.
24 Social Islami Bank Limited
Director
engaged in various social activities as a philanthropist.
Alhaj Sultan Mahmood ChowdhuryDirector
with various religious, social and welfare activities. Currently he is the Managing
Mr. Abdul Awal Patwary Director
Alhaj NasiruddinDirector
25 Annual Report 2012
Mr. Mohammad AzamDirector
as Director, he is associated with various social welfare activities in Chittagong as well as other parts of the country. Currently he is also the Proprietor of M/S.
Mr. Mohammad Fazlay Morshed Director
Mr. A. Jabbar Mollah Independent Director
26 Social Islami Bank Limited
Executive Committee
Audit Committee
Shariah Supervisory Committee
27 Annual Report 2012
Present Management Team
Core Decision Making Committee (CDMC)
Tender Evaluation Committee
MRS (Management Reporting System) Committee
Investment Committee
MANCOM
Management &
Committees
28 Social Islami Bank Limited
Present Management Team Managing Director Deputy Managing Director
Principal
Senior Executive Vice President Executive Vice President
Mr. Ziauddin Sawlet Ghani
Senior Vice President Vice President
Mr. Mahbub Hossain
Mr. Md. Abdul MottalebMr. Md. Towhid Hossain
Mr. Md. Mesbahul
29 Annual Report 2012
Core Decision Making Committee
Tender Evaluation Committee
30 Social Islami Bank Limited
MRS (Management Reporting System) Committee
Investment Committee
MANCOM
31 Annual Report 2012
Deposit
procurement &
management under
Shariah
Principles
Investment using Islamic
FinancialContract
Functions of
Social Islami
Bank Limited.
Financial Services
i.e. Letter of Credit,
Guarantee, Money
Transfer etc.
Social Services
(CSR)
Functions of Social Islami Bank Limited
32 Social Islami Bank Limited
Board of Directors
Managing Director
Executive Committee ofthe Board of Directors
BoardSecretariat
BoardAudit Cell
Board Affairs Shares
SEVP/EVP (ChittagongRegional Office)
Deputy ManagingDirector
Deputy ManagingDirector
Support Service
Software Development& Maintenance
Security & Compliance
RMG & Textile Division IT Division
BACH
International Division
Central Bank & OtherRegulatory Approval
OBU
SWIFT Operation
Correspondent Banking
Remittance
Marketing, Branding andCommunication Division Treasury Front Office
Foreign & Local CurrencyBusiness Dealing
Exchange Rate Fixation& Profit Rate Fixation
Foreign Remittance Cell
Card Division
MIS/R&D
Retail & TradeFinance Division
Centralized TradeProcessing Unit
Investment RiskManagement Division
Premises, Decoration& Dead Stock
Printing , Stationery& Stores
Approval Unit(Corporate, /Retail/RMG)
Administration Unit
Monitoring Unit
CentralizedClearing Unit
Marketing
Branding
Communication
Market Research
Products Development
Corporate CustomerRelationship Department
AlternativeDelivery Channel
Centralized RemittanceProcessing Unit
33 Annual Report 2012
Board Audit Committee
MD’s Secretariat
AdministrativeUnit
Vigilance &Inspection Unit
Shariah SupervisoryCommittee Secretariat
Member Secretary
Muraquib
Internal Control &Compliance Division
Human ResourcesDivision
SME & AgriculturalFinance Division
SME (Relationship) Agriculture
(Relationship)
HR PersonnelManagement
HR Policy
HR Training
Audit & Inspection Unit
Monitoring Unit
Compliance Unit
Branches Control & General Banking Division
Deputy ManagingDirector
Treasury Back Office Special AssetManagement Division
Logistic Support Division Financial AdministrationDivision
FC & Taka DealingReconciliation
Nostro A/c Management& Reconciliation
Statement & Returns
Budget & FinancialControl
Reconciliation
Central Accounts
ALCO Desk
B. Bank Returns
Basel-IIImplementation Cell
Transport &Maintenance
Risk Management Unit Legal Affairs
Recovery Cell Affairs
Daily Statement ofTreasury Operations
Vouchers &Profit/Loss Findings
(Treasury Mid Office)Foreign Currency
Market InformationAnalysis & Strategy
MIS of TreasuryOperations
AML Unit
Security Services
Monitoring Unit CTR/STR
Disciplinary Action Cell
34 Social Islami Bank Limited
Products & ServicesDeposit Products
Mudaraba Savings Account
Investment Products Mudaraba Quard
Service Products ATM 24/ 7
35 Annual Report 2012
36 Social Islami Bank Limited
37 Annual Report 2012
Year Declaration No. of Share
Face Value per Share
(Taka)
Cumulative no. of
Shares
Value of issued Capital
for the year (Taka)
Cumulative value of
Capital (Taka)
1995 Initial Capital 118,380 1,000 118,380 118,380,000 118,380,000
1996 - - 118,380 - 118,380,000
1997 7,620 1,000 126,000 7,620,000 126,000,000
1998 - - 126,000 - 126,000,000
1999 Capital Raised 74,000 1,000 200,000 74,000,000 200,000,000
2000
50,000 1,000 250,000 50,000,000 250,000,000
Initial Public Offer 10,000 1,000 260,000 10,000,000 260,000,000
2001 - - 260,000 - 260,000,000
2002 - - 260,000 - 260,000,000
2003 - - 260,000 - 260,000,000
2004 325,000 1,000 585,000 325,000,000 585,000,000
2005 - - 585,000 - 585,000,000
2006 - - 585,000 - 585,000,000
2007 5,345,550 100 11,195,550 534,555,000 1,119,555,000
2008 1,903,243 100 13,098,793 190,324,300 1,309,879,300
2009
1,309,879
100 14,408,672 130,987,900 1,440,867,200
12,508,587 100 26,917,259 1,250,858,700 2,691,725,900
2010 2,960,899 100 29,878,158 296,089,850 2,987,815,750
2011
41,829,420 10 340,610,995 418,294,200 3,406,109,950
298,781,575 10 39,392,570 2,987,815,750 6,393,925,700
Pattern of Shareholdings
Sl No Investor GroupNumber of
Shareholders as on
31.12.2012
Number of Shares as on
31.12.2012
Percentage as on
31.12.2012
Number of Shareholders
as on 31.12.2011
Number of Shares as on
31.12.2011Percentage as on 31.12.2011
01 25 14,65,10,956 22.91% 33 11,69,06,656 18.28%02. 8 40,20,633 0.63% 8 41,79,633 0.65%03. 5 5,26,70,209 8.24% 5 2,63,14,284 4.12%04. General Public 77957 33,34,70,339 52.15% 92,207 40,09,61,676 62.71%
05. 69 2,18,74,567 3.42% 67 3,61,98,496 5.66%
06. Institutions (Others) 346 7,36,48,501 11.52% 423 4,45,18,801 6.96%07. 76 33,83,041 0.53% 83 40,23,950 0.63%08. 2 2,56,216 0.04% 1 13,97,466 0.22%09. 2 30,79,046 0.48% 1 44,90,546 0.70%10. 9 2,38,781 0.04% 9 1,60,781 0.03%11. 14 2,40,281 0.04% 14 2,40,281 0.04%
78,513 63,93,92,570 100.00% 92,851 63,93,92,570 100.00%
38 Social Islami Bank Limited
Distribution of Shareholders by holdings in 2012
Share holding rangeNumber of
Shareholders as on
31.12.2012
Number of Shares as on
31.12.2012
Percentage as on
31.12.2012
Number of Shareholders
as on 31.12.2011
Number of Shares as on
31.12.2011
Percentage as on
31.12.2011
33,009 6530028 1.02% 32,742 7,229,892 1.13%
501-5000 38,886 65621940 10.26% 50,838 86,927,237 13.60%
5001-10000 3,496 24935347 3.90% 4,837 34,598,134 5.41%
10001-20000 1,724 23,145,340 3.62% 2,407 32,642,39 5.11%
20001-50000 854 24,988,897 3.91% 1,281 38,655,537 6.05%
50001-99999999999 544 494,171,018 77.29% 746 439,339,38 68.71%
78,513 639,392,570 100.00% 92,851 639,392,570 100.00%
Shares held by the Directors in 2012
Sl no Name of the Director Position held in the Bank as on 31.12.2012
Number of Shares held on
31.12.2012
Percentage of total holding
Total number of Shares as on
31.12.2012
01. 1,27,87,934 2.00%
639,392,570
02. 1,28,20,000 2.01%
03. 1,27,88,686 2.00%
04. Director 1,27,88,629 2.00%
05. Director 1,27,88,275 2.00%
06. Mr. Abdul Awal Patwary Director 1,27,94,016 2.00%
07. Director 1,27,90,615 2.00%
08. Director 1,27,88,095 2.00%
09. Director 3,20,00,000 5.00%
10. Mr. A Jabbar Mollah Independent Director
26,57,002 0.42%
Total 13,70,03,252 21.43%
39 Annual Report 2012
Financial Calendar
Year 2012st Quarter announced on 31.05.2012
nd Quarter announced on 22.07.2012
rd Quarter announced on 31.10.2012
st
approved on11.05.2013
Declaration of Dividend for the year 2013 11.05.2013
Declaration of Record date for holding of 18th Annual General Meeting 22.05.2013
th Annual General Meeting Served on 28.05.2013
18th Annual General Meeting to be held on 22.06.2013
Dividend for the year 2012 to be paid on 21.07.2013
Year 2013 st Quarter to be announced on 15.05.2013nd Quarter to be announced on 31.07.2013rd Quarter to be announced on 30.10.2013
st
approved on30.03.2014
30.03.2014th Annual General Meeting 11.04.2014
th 25.04.2014
19th 13.05.2014
10.06.2014
40 Social Islami Bank Limited
Performance of the Bank
Reports & Statements of Value Addition and its Distribution
Economic Value Added (EVA) Statements
Market Value Added (MVA) Statements
Analysis & Value Added Statements
41 Annual Report 2012
Performance of the Bank
encouraging towards the journey for the year of 2013.
Indicators Target 2012 Actual- 2012 Actual-2011 Achievement percentage
Growth %
Deposits 86000.00 81091.39 56661.16 94.29% 43.12%
75000.00 76024.97 53908.58 103.70% 41.03%
196500.00 126519.90 108308.40 64.39% 16.81%
4600.00 3617.82 2768.80 85.04% 30.66%
42 Social Islami Bank Limited
Sl No. Particulars 2005 2006 2007 2008 2009 2010 2011 2012
01 4000.00 4000.00 4000.00 4000.00 4000.00 10000.00 10000.00 10000.00
02 Paid-up Capital 585.00 585.00 1119.55 1309.88 2691.72 2987.81 6393.92 6393.92
03 923.07 980.70 1665.29 1867.36 3555.75 4198.77 9412.21 10181.97
04 1065.42 1128.03 1870.94 2168.22 3914.62 4678.56 9534.52 10596.51
05 Total Deposits 16862.58 16170.51 19753.94 24099.82 31588.16 44850.77 66852.55 93594.29
06 Client Deposits 14341.95 16046.72 18706.54 22065.79 27663.62 39833.37 56661.16 81091.39
07 15096.83 15312.90 16440.26 19951.30 26580.58 36680.28 53908.58 76024.97
08Securities)
501.06 501.06 558.45 853.46 1310.66 3049.72 5241.36 6144.01
09 17438.07 23280.00 23903.8 33363.20 39110.00 61931.00 108308.30 126519.90
10 213.57 295.89 480.78 787.37 1064.31 1638.63 2768.80 3617.82
11 54.20 120.23 212.92 354.81 726.88 1136.69 1901.28 2747.89
12 153.80 137.48 132.03 443.28 649.61 914.74 2134.87 2249.95
13 Total Assets 20358.81 19691.53 24546.55 29808.88 39980.82 55168.54 84406.18 115165.95
14Cash Dividend
--
--
17%-
10%-
11%-
14%-
-10.50%
10.00%05.00%
15total deposits
89.53% 94.70% 83.23% 82.79% 84.15% 81.78% 80.63% 81.23%
16Client deposits
105.26% 95.43% 87.89% 90.42% 96.08% 92.08% 94.65% 89.19%
17 6.77% 7.19% 10.71% 10.87% 14.97% 9.33% 13.17% 11.52%
18 7.54% 4.92% 4.93% 4.38% 3.19% 4.76% 3.93% 3.33%
19Correspondents
3575 2366 2480 2200 2250 2250 2250 2230
20 686 674 674 750 950 1252 1375 1625
21 24 24 24 28 52 64 76 86
22 1000 1000 100 100 100 10 10 10
23 Earning per Share 24 9.85 17.60 17.20 18.39 2.15 1.81 2.25
24 Credit Rating by
ST-3 ST-3A-
ST-2 ST-2 ST-2 ST-2AA-
43 Annual Report 2012
44 Social Islami Bank Limited
9,412.21
Client Deposit (Taka in million)
Foreign Exchange Business (Taka in Million)
45 Annual Report 2012
46 Social Islami Bank Limited
Report & Statements of Value Addition and its Distribution
Value Added Report for the year ended 31st December 2012
the operation of the business houses.
values for distribution to the society year to year.
Value Added Statement for the year ended 31st December 2012
Value Added Statement
Particulars Year 2012 Year 20111131.90 692.22
23.38 17.11117.90 120.62
32.50 38.79 1305.68 868.74
754.17 454.12
18.12 12.880.86 0.34
2.81 2.198.06 5.47
0.38 0.550.01 0.02
0.09 0.051.35 0.74
35.66 17.60 821.51 493.956 Value added by Banking Services 484.17 374.784
28.53 36.59
17.35 16.39
10.45 4.78Provision for other assets 22.27 16.26
- 5.77 Total 78.61 79.79Net Total Value Addition 405.56 294.99
47 Annual Report 2012
Distribution of Value Addition Year 2012 Percentage Year 2011 Percentage
108.86 26.84% 90.44 30.66%
130.15 32.09% 81.63 27.67%
3.01 0.75% 2.56 0.87%
To the growth of the entity (-) 163.54 40.32% 120.36 59.20%
as Statutory Reserve (-) 54.96 13.55% 38.03 12.89%
as Retained Earnings (-) 89.15 21.98% 70.32 23.84%
0.52 0.13% 0.15 0.05%
as Depreciation (-) 13.53 3.34% 7.48 2.54%
5.38 1.33% 4.39 1.49%
405.56 100.00% 294.99 100.00%
Graphical presentation of Distribution of Value Added by
Distribution of Value added (%)
2011
48 Social Islami Bank Limited
Economic Value Added (EVA) Statements
Particulars Year-2012 Year-2011
1305.68 868.74
-943.90 -591.87
361.78 276.88
-130.15 -81.63
231.63 195.24
1018.20 941.22
193.97 138.35
Sub Total 1212.17 1079.57
979.71 798.09
14.15% 11.51%
Capital Charges 138.63 91.86
Economic Value Added 93.00 103.38
49 Annual Report 2012
Market Value Added (MVA) Statements
Particulars Year-2012 Year-2011
1,240.42 1,675.21
-639.39 -639.39
601.03 1,035.82
639392575 639,392,575
10.00 10.00
19.40 26.20
D
50 Social Islami Bank Limited
Assalamu-Alaikum
brought us together once again.
Chairman’s Foreword
51 Annual Report 2012
Dear Shareholders,
Dear Shareholders,
Dear Shareholders,
52 Social Islami Bank Limited
country have joined with us as our business partners.
‘Early Warning System’in running a financial institution.
Dear Shareholders,
and by practicing high degree of planned corporate, good governance.
53 Annual Report 2012
54 Social Islami Bank Limited
Assalamu Alaikum Wa Rahmatullah.
business success despite all odds, pitfalls and challenges.
nd
From the Desk of Managing Director
55 Annual Report 2012
st
st
40.00% and 36.44% respectively over 2011.
5,390.86 crore in 2011.
682.21 crore in 2012 with 32.86% growth over the previous year.
Shariah compliance
Our efforts to serve the customers better
year 2012, we have enriched our card product line with Visa Electron, Hajj Card, Gift Card and Travel Card. Very soon we are
56 Social Islami Bank Limited
through which our valued
57 Annual Report 2012
Recognitions
___________________
Managing Director
58 Social Islami Bank Limited
Management Report & Analysis
Outlook 2013st
st
To increasing ATM facilities.
Special recovery drive.
Debt Equity Ratio (Times)
59 Annual Report 2012
60 Social Islami Bank Limited
61 Annual Report 2012
62 Social Islami Bank Limited
Honourable Shareholders,
Assalamu Alaikum Wa Rahmatullahth
st
Global Economy
levels at least until late 2014.
Bangladesh Economy
63 Annual Report 2012
Banking Sector Review
64 Social Islami Bank Limited
sectors.
Islamic Banking around the world
65 Annual Report 2012
Islamic Banking and its Development in BangladeshGenesis of Islamic Banking in Bangladesh
Formation of IBCF
Formation of CSBIBB (Central Shariah Board for Islami Banks of Bangladesh)
Bangladesh Government Islamic Investment Bond
66 Social Islami Bank Limited
Islami Bank’s Fund MarketTemporary arrangement of funds through MSD (Mudaraba Savings Deposit) and MND (Mudaraba Notice Deposit) Accounts.
Introduction of Islamic Inter Bank Fund Market (IIFM)
An Overview of the Bank
67 Annual Report 2012
Capital Management of the Bank
Year Paid up Capital Total Capital Growth (over the
previous year) Source of Capital
2008 1,309.88 2,168,22 15.89% Internal generation
2009 2,691.72 3,914.62 80.55%
2010 2,987.81 4,678.56 19.52% Internal generation
2011 6,393.93 9,534.52 103.79%
2012 6,393.93 10596.51 11.13% Internal generation
68 Social Islami Bank Limited
Capital Base (Tier-i & Tier-ii)
st July 2011. Tier-I capital consists of (a) paid up capital (b) statutory reserves (c)
position of capital base of the year 2011 and 2012 is given as under.
Particulars Yr-2012 Yr-2011
Tier-I1. Paid up Capital2. Statutory Reserve3. Retained EarningsSub-total
Tier-II
Sub-total
6,393.931,718.06 960.009,071.99
969.53554.99
1524.52
6,393.931,168.48 711.308,273.71
691.56
569.251260.81
Total 10,596.51 9,534.52
Yr-2012 Yr-2011
i. 9.86% 11.43%
ii. 11.52% 13.17%
69 Annual Report 2012
st
st
Stress Result of the Bank as on December 2012
CAR Maintained 11.52%
CAR after Minor Shock
(%)
CAR after Moderate Shock (%)
CAR after Major Shock
(%)
11.39 11.14 10.88
11.49 11.43 11.36
8.84 5.29 4.76
11.30 10.98 10.54
11.31 11.10 10.67
Interest Rate 11.57 11.61 11.66
11.49 11.46 11.43
11.46 11.40 11.28
Combined Shock
Minor Moderate Major
Changes in CAR
Changes in CAR
Changes in CAR
-0.21 -0.42 -0.85
-1.03 -3.50 -7.21
-0.21 -0.54 -0.97
Interest Rate 0.05 0.10 0.14
-0.03 -0.06 -0.09
-0.06 -0.12 -0.24
Total Change -1.49 -4.54 -9.21
10.03 6.98 2.31
th
70 Social Islami Bank Limited
Placement & Funding
Deposits
71 Annual Report 2012
D
Deposit mix Year-2012 Year-2011 Growth
10,903.16 8,769.99 24.32%
Mudaraba Savings Deposit 4,905.32 3,925.74 24.95%
62,267.65 42,699.28 45.83%
Other Mudaraba Deposit 15,449.26 11,404.06 35.47%
68.90 53.47 28.86%
Total 93,594.29 66,852.55 40.00%
ensured a positive growth in revenue earning.
72 Social Islami Bank Limited
Sl. No. Mode of Deposits the Year 2012 the Year 2011
1 Mudaraba Savings Deposit 4.10% 3.50%
2 4%-10% 2.75%-3.50%
3
a) 1 Month 12.50% -
b) 3 Months 12.50% 12.00%
c) 6 Months 12.50% 12.00%
d) 12 Months 12.50% 12.00%
4
a) 12.50% 12.00%
b) 12.50% 10.00%
c) 12.50% 10.00%
d) 13.50% -
e) 12.50% 11.50%
f) 12.50% 10.00%
g) 13.50% 10.00%
h) 14.00% 12.25%
I) 12.50% 11.00%
j) 12.50% 12.25%
13.43% -
l) 12.50% 10.00%
12.50% 10.00%
n) 12.50% 10.00%
o) 8.00% 5.00%
p) 13.50% 12.00%
p) 13.50% 12.50%
r) 13.50% 12.00%
s) 13.50% 12.50%
t) 13.50% -
u) 13.50% -
v) 10.00% -
73 Annual Report 2012
Investment
74 Social Islami Bank Limited
Status Provision Rate2012 2011
Amount Composition Amount Composition
969.18 49.97% 691.29 49.97%
Special Mention Account 5% 0.34 0.02% 0.28 0.02%
20% 29.64 1.53% 10.21 0.74%
50% 6.91 0.36% 35.80 2.59%
100% 933.59 48.12% 645.93 46.68%
Total 1939.66 100.00% 1383.51 100.00%
Investment Plan for 2013
75 Annual Report 2012
Green Banking
Strategy Framework of Green Banking
Phase Compliances
Phase - 01
Phase - 02
2.2 Green strategic planning
2.3 Setting up green branches
Phase - 033.1 Designing and introducing innovative products
G
76 Social Islami Bank Limited
Achievements in Green Banking
Sl No Issue Achievement
1activities
2Diligence (EDD) Instruction Circular no. 2011/23 dated May 23, 2011.
3Rating (ERR) no. 2011/23 dated May 23, 2011.
4
5 th
6
endeavor has widely been accepted and applauded.
country last year.
Future plan
To introduce Video Conferencing
individual position we belong to.
Appreciation
77 Annual Report 2012
Special Asset Management
Investment Income
Mode Year 2012 Year 2011 Growth
Murabaha 524.58 417.73 25.58%
5630.41 2,890.73 94.77%
Hire Purchase 1798.33 1,374.05 30.88%
43.33 29.21 48.34%
1.27 0.44 188.64%
Quard against MTDR 640.93 479.95 33.54%
1262.87 708.43 78.26%
Ijarah 27.03 2.66 916.17%
326.22 69.92 366.56%
Mudaraba 3.57 - -
1060.47 949.09 11.74%
Total 11,319.01 6,922.21 63.52%
78 Social Islami Bank Limited
Non Funded Investment
Income from Investment in Shares & Securities
the closing date of 2012.
2012 2011
VAT Collection at Sources 131.40 63.54
--------- ---------
Total 2,290.69 1,405.39 ---------- -----------
Risk Management
79 Annual Report 2012
Correspondent Banking Relationship
on a reciprocal basis.
our absence.
Centralized Trade Processing Unit (CTPU)
Centralized Remittance Processing Unit (CRPU)
Off Shore Banking
Centralized Clearing Unit (CCU)th
th
80 Social Islami Bank Limited
Corporate Governance
Board of Directors
by the Managing Director or CEO.
Independent Directorth
81 Annual Report 2012
Appointment of Directors
th
th
Mr. Abdul Awal Patwary; and
Retirement of Directors
Executive Committee
Remuneration Committee
82 Social Islami Bank Limited
Audit Committee
Monitor choice of accounting policies and principles.
Related Party Transaction
party transactions refer to those transactions with the entity / person as stated by way of transfer of resources, services regardless
Credit RatingAA-
2Stable.
Date of Declaration Valid Till Rating Action RatingShort Term
Rating Outlook
May 29, 2013 May 28, 2014 Initial AA- Stable
83 Annual Report 2012
st
i)
a)
b)
ii)
84 Social Islami Bank Limited
Board Meeting held during the year 2012 and attended by each Director
Sl. No. Composition of the BoardNo. of Board Meetings in 2012
Held Attended
1. 14 13
2. 14 11
3. 14 14
4. 14 11
5. 14 11
6. Mr. Abdul Awal Patwary, Director 14 11
7. 14 14
8. 14 14
9. 14 08
10. Mr. A. Jabbar Mollah, Independent Director 14 11
Parent / Subsidiary /Associated Companies and other related parties
Sl. No. Name of Subsidiary Companies % of holding of shares by the Bank
1. 99.99%
2. 99.99%
85 Annual Report 2012
ist of Directors of the Bank with their Shareholding Position as on 31.12.2012
Sl. No. Name of Sponsor/Directors/Shareholders Designation No. of Shares % of total share
1. 1,27,87,934 2.0000%
2. 1,28,20,000 2.0050%
3. 1,27,88,686 2.0001%
4. Director 1,27,88,629 2.0001%
5. Director 1,27,88,275 2.0000%
6. Mr. Abdul Awal Patwary Director 1,27,94,016 2.0009%
7. Director 1,27,90,615 2.0004%
8. Director 1,27,88,095 2.0000%
9 Director3,20,00,000 5.0048%
10. Mr. A. Jabbar Mollah Independent Director 26,57,002 0.4155%
Internal Audit and other top Executives of the Bank and their spouse and minor children:
Sl. No. Name Nos. of Share(s) held
01.Managing Director and CEO
02.
03.
04.
Sl. No. Name Nos. of Share(s) held
01. Deputy Managing Director
02. Deputy Managing Director
03.
04.
05.
86 Social Islami Bank Limited
87 Annual Report 2012
Foreign Exchange Business
Particulars 2005 2006 2007 2008 2009 2010 2011 2012 Growth Rate
11576.71 11791.00 13482.30 18343.80 22753.30 39459.50 68198.50 76985.60 12.88%
5528.40 10714.00 9961.60 12674.30 14433.20 21372.20 34975.00 42712.20 22.12%
332.96 775.00 459.90 2341.10 1923.50 1099.40 5134.90 6822.10 32.86%
Total 17438.07 23280.00 23903.80 33363.20 39110.00 61931.00 108308.30 126519.90 16.81%
International Trade Financing (Export & Import)
Foreign Remittance
88 Social Islami Bank Limited
Human Resource Development
Human Resource Accounting
Descriptions Yr-2012 Yr-2011 Yr-2010 Yr-2009 Yr-2008
1625 1375 1252 950 750
86 76 64 52 28
19 18 20 18 27
57.60 48.62 35.82 33.25 32.13
46.78 39.21 29.30 27.98 26.60
2.23 2.01 1.31 1.12 1.05
0.67 0.66 0.51 0.43 0.44
30.09% 32.66% 38.90% 37.39% 41.96%
89 Annual Report 2012
2012 2011
--------- --------Total 642.71 461.67 --------- --------
Other Facilities
General Quard facilities
Safety Measures
90 Social Islami Bank Limited
Information and Communication Technology
accountability to our clients are fair enough to build a relationship of trust.
Any Branch Banking
Internet Banking.
fund with allied accounts and also pay utility bills.
SMS Banking
IP Phone
ATM Network
91 Annual Report 2012
Managing Information Technology Risk
Green Banking Support
Non–Formal Sector
Micro-Finance, Micro Enterprise and SME Programs
92 Social Islami Bank Limited
Particulars 31/12/2010 31/12/2011 31/12/2012
SME Outstanding 170.35 437.00 686.88
The Guidelines for operation of this scheme
93 Annual Report 2012
in this account.
st
crore in the previous year, registering a growth of 31% than the preceding year.
Voluntary Sector: Corporate Social Responsibility
(ii) Donation to the individuals, covering
94 Social Islami Bank Limited
CSR activities
Sectors (January - June’12) (July - December’12) Total Contribution
Health 643,150.00 800,097.00 1,443,247.00
Education 958,820.00 1,503,680.00 2,462,500.00
Rehabilitation) 2,506,630.00 12,266,478.00 14,773,108.00
Sports 10,300,000.00 2,982,907.00 13,282,907.00
0.00 25,000.00 25,000.00
10,000.00 16,787,900.00 16,797,900.00
Total 14,418,600.00 34,366,062.00 48,784,662.00
A short list of our stakeholders
Center for Rehabilitation of
Sight Savers International
Mosabbir Cancer Care Centre
privileged children supported
Modhupur, Tangail
95 Annual Report 2012
CSR activities of the Bank during 2012 at a glance
Sl. No. Event Particulars
01.
02.Donation to Ms. Athoi Das D/O of journalist late Dinesh Das, Senior
03.
04. Donation of Motor Cycle to Journalist
05. individuals
06. Coal Mining School, Dinajpur and schools.
07.
08.
created a awareness in the society.
09.
10.
96 Social Islami Bank Limited
On going CSR activities of the Bank
1. (School for underprivileged Pathshala (School for underprivileged children) in 04 (four)
basis.
2. (School for underprivileged
3.
Distribution of Scholarship
4.
5.distressed in different parts of the country
poor and distressed people of different parts of the country
This Report Also States That(a)
(b)
(c)
(d)
(e) Appropriate accounting policies have been consistently applied in preparation and presentation of the financial
(f)
97 Annual Report 2012
(g)
(h) continue as a going concern.
(i)
Particulars 2012 2011 Growth Rate
11319.01 6922.20 63.52%
7541.68 4541.15 66.08%
3777.33 2381.05 58.64%
1737.76 1765.20 -1.55%
5515.09 4146.25 33.01%
1897.27 1377.45 37.74%
3617.82 2768.80 30.66%
869.93 867.52 0.28%
2747.89 1901.28 44.53%
Particulars 2012 2011
i. 3.99% 3.38%
ii. Return on Assets (ROA) 2.75% 2.70%
iii 14.15% 11.51%
v.
th
98 Social Islami Bank Limited
Appointment of Auditors
Gratitude
99 Annual Report 2012
Compliance Report under Condition No: 7.00 of BSEC
Condition No. Title
Compliance StatusRemarks
Complied Not Complied
1.1 than 20)
1.2 (i) one) independent directors,
One was appointed before 31.12.12 and another was appointed on 12.03.2013.
1.2 (ii) a) holds less than one percent (1%) shares of the total
1.2 (ii) b)
brother, sister, son-in-law and daughter-in-law shall
1.2 (ii) c) who does not have any other relationship, whether
1.2 (ii) d)
1.2 (ii) e)
1.2 (ii) f)
1.2 (ii) g)
1.2 (ii) h)
1.2 (ii) i)
100 Social Islami Bank Limited
1.2 (iii) the independent director(s) shall be appointed by the board of directors and approved by the shareholders in the Annual General Meeting (AGM)
Independent Director will be approved by the shareholders in the ensuing AGM.
1.2 (iv) independent directors, One was appointed before 31.12.12 and another was appointed on 12.03.2013.
1.2 (v)
to be recorded
1.2 (vi)
1.3 (i) individual with integrity who is
contribution to business
1.3 (ii)
1.3 (iii)
1.4
1.5 (i)the industry
1.5 (ii)
1.5 (iii)
1.5 (iv)
1.5 (v)or loss
1.5 (vi)related party transactions should be disclosed in the annual report
1.5 (vii)
101 Annual Report 2012
1.5 (viii)
Repeat Public Offering (RPO), Rights Offer, Direct
variance on their Annual Report
directors
Appropriate accounting policies have been
concern, the fact along with reasons thereof should be disclosed
given
and attendance by each director shall be disclosed
102 Social Islami Bank Limited
The pattern of shareholding shall be reported to
wise details)
of the board
2.1
of Internal Audit and the CS.
2.2
3(i)
3(ii)
within the business
3(iii)
shall be clearly set forth in writing
3.1(i)
3.1(ii)
and shall include at least 1 (one) independent director
103 Annual Report 2012
3.1(iii)
3.1(iv)
3.1(v)
3.1(vi)not constitute without at least 1 (one) independent director.
3.2(i)independent director
under process.
3.2(ii)in the Annual General Meeting (AGM) AGM
3.3(i)
3.3(ii) Monitor choice of accounting policies and principles
3.3(iii)
3.3(iv)
3.3(v)
for approval
3.3(vi)
the board for approval
3.3(vii)
3.3(viii)
104 Social Islami Bank Limited
(IPO)/Repeat Public Offering (RPO)/Rights Issue the
3.4.1(i)
3.4.1(ii)a)
3.4.1(ii)b)
3.4.1(ii)c)related laws, rules and regulations
3.4.1(ii)d)
3.4.2 Reporting to the Authority
3.5 Reporting to the Shareholders and General Investors
4.(i) Appraisal or valuation services or fairness opinions
4.(ii)
4.(iii)
4.(iv)
4.(v) Actuarial services
4.(vi) Internal audit services
4.(vii)
4.(viii)
5.(i)
5.(ii)on 26.05.2013.
105 Annual Report 2012
5.(iii)
5.(iv)
5.(v)
6.(i)a)
6.(i)b)
6.(ii)
year which are fraudulent, illegal or violation of the
7.(i)Professional Accountant/Secretary (Chartered
conditions of Corporate Governance Guidelines
shareholders along with the Annual Report on a yearly basis
7.(ii)
with these conditions
106 Social Islami Bank Limited
The Report of Audit Committee of the Board
Sl. No. Name Status with the Bank Status with the Committee
01. Director
02. Mr.Abdul Awal Patwary Director
03. Director
04. Director
05. Mr. A Jabbar Mollah Independent Director
Internal Audit.
Committee Meetings
107 Annual Report 2012
Report on Risk Management
i.
ii.
iii.
1)
2)
Revaluation Reserves for Securities
3)
Supervisory Review Process
i)
ii)
iii)
processes.
108 Social Islami Bank Limited
iv)
(e.g., business cycle effects).
v)
Main Features of Review Process
and review.
Market Discipline
Scope and purpose
a)
b)
Disclosure framework
109 Annual Report 2012
Comparative Analysis of Capital maintained throughout the year 2012
Particulars 31.03.2012 30.06.2012 30.09.2012 31.12.2012
837.56 859.24 908.78 919.83
Capital Maintained 1,011.88 1037.37 1000.32 1059.65
Core Capital 872.64 882.03 841.38 907.20
139.24 155.34 158.94 152.45
10.42% 10.27% 9.26% 9.86%
1.66% 1.81% 1.75% 1.66%
8,375.62 8592.40 9087.83 9198.34
a) 7687.92 7984.93 8496.68 8555.23
1. 5301.15 5584.38 6340.94 6850.30
2. 2377.77 2400.55 2155.74 1704.92
b) 458.16 460.34 460.34 460.34
c) 238.54 147.14 130.82 182.78
12.08% 12.07% 11.01% 11.52%
10% 10% 10% 10%
4.72%.
Mohammad Shoeb FCASenior Vice President
110 Social Islami Bank Limited
Scope of ApplicationQualitative Disclosures
which this guidelines applies
(b) An outline of difference in the basis of consolidation for accounting and regulatory purposes, with a brief description of the entities within the group (i) that are fully
(iii) that are neither consolidated nor deducted (e.g. where
funds or regulatory capital within the group.
Quantitative Disclosures
subsidiaries not included in the consolidation that are
Capital StructureQualitative Disclosures
or Tier-II. a) Paid up capitalb) Statutory reservec) Retained earnings
a) General Provisionb) Assets Revaluation Reserve up to 50%.
111 Annual Report 2012
Quantitative Disclosures
Particulars Solo Consolidated
i 6,393.93 6,393.93
ii Statutory Reserve 1,718.06 1,718.06
iii - -
iv General Reserve - 0.74
v Retained Earnings 960.00 930.22
vi Minority interest in subsidiaries - -
viishares
- -
viii - -
- -
9,071.99 9,042.95
Particulars
a)Tier 2 and Tier 3 capital
i Tier 2 capital 1,524.52 1,524.52
ii
c 10,596.51 10,567.47
Qualitative Disclosers
and future activities.
112 Social Islami Bank Limited
Quantitative Disclosures
Particulars
Solo Consolidated
b) 8,554.88 8,508.60
c) 182.78 182.78
d) 460.34 460.34
e) 9,198.34 9,151.78
11.52% 11.55%
Tier-I CAR 9.86% 9.88%
Tier-II CAR 1.66% 1.67%
Investment RiskQualitative Disclosures
date will be treated as Past due/ Overdue.
113 Annual Report 2012
ii) Description of approaches
i)
114 Social Islami Bank Limited
for lending operation etc.
guidelines.
Quantitative Disclosures
As on 31.12.2012
Murabaha 5,571.24Mudaraba 203.15
Quard 6,361.56
Ijarah 185.29Visa Card 82.80
------------Total 76,024.97
115 Annual Report 2012
As on 31.12.2012
Chittagong 16,861.25Sylhet 4,516.62Rajshahi 236.16
Rangpur 489.04
-------------- Total 76,024.97
d) Industry or counterparty type distribution Sector As on 31.12.2012
Agricultural Industries 911.39
Construction Industries 3093.78
Service Industries 543.02
Other Industries 9232.43 ------------Total 76024.97
Particulars As on 31.12.2012
Over 5 years 3692.84 --------------Total 76024.97
116 Social Islami Bank Limited
Particulars As on 31.12.2012Past due --Special Mention Account 6.95Sub-standard 247.96Doubtful 66.70
--------------Total 2539.80
Particulars As on 31.12.2012
Opening balance2116.10
Addition416.76
Reduction-
2532.86
Closing balance 970.13
117 Annual Report 2012
Qualitative Disclosures
a) Differences between holdings on which
relationship and strategic reasons ;and
covering the valuation and accounting of
in these practices.
when such dividend is received or right to receive such dividend is established.
Quantitative Disclosures
Particulars Solo Consolidated
a) 738.62 738.62
b) 0 0
c) 126.17 126.17
d) Total latest revaluation gains (losses) - -
- -
e)
61.24 61.24
61.24 61.24
118 Social Islami Bank Limited
Qualitative Disclosures
Quantitative Disclosures
by currency (as relevant)
Particulars 1-90 days over 3 Month - up to 6 Months
Over 6 Month - Up to 1 years
RSA 2129.90 2028.08 3897.64
5553.08 1066.08 993.33
Gap -3423.18 962.00 2904.31
-3423.18 -2461.18 443.13
0.01 0.01 0.01
-34.23 -24.61 4.43
-34.23 -58.84 -54.41
Market RiskQualitative Disclosures
119 Annual Report 2012
iv) Policies and processes for
Quantitative Disclosures
Solo Consolidated
- -
122.49 122.49
60.29 60.29
- -
182.78 182.78
Operational RiskQualitative Disclosures
and staffs
iv) Policies and process for
segregated and there is at least dual control on every transaction to protect against
120 Social Islami Bank Limited
v) Approach to calculating capital as of the reporting date.
Quantitative Disclosures
As on 31.12.2012
Solo Consolidated
460.34 460.34
Stress testing
liabilities portfolio of the institution.
1.
2.
3.
4.
5.
121 Annual Report 2012
122 Social Islami Bank Limited
123 Annual Report 2012
124 Social Islami Bank Limited
125 Annual Report 2012
126 Social Islami Bank Limited
127 Annual Report 2012
128 Social Islami Bank Limited
129 Annual Report 2012
130 Social Islami Bank Limited
131 Annual Report 2012
132 Social Islami Bank Limited
133 Annual Report 2012
134 Social Islami Bank Limited
135 Annual Report 2012
136 Social Islami Bank Limited
137 Annual Report 2012
Auditors’ Report
Management’s Responsibility for the Financial Statements
Auditors’ Responsibility
Opinion
138 Social Islami Bank Limited
We also report that:
i)
ii)
branches not visited by us;
iii)
iv)
v)
have been prepared in accordance with the generally accepted accounting principles;
vi)
vii)
viii)
`
Syful Shamsul Alam & Co. Chartered Accountants
139 Annual Report 2012
Note(s)2012 2011
Taka Taka
PROPERTY AND ASSETS
Cash
Cash in hand (Including Foreign Currencies) 3(a) 1,104,657,620 1,065,645,367 Balance with Bangladesh Bank & its Agent Banks 3.1(Including Foreign Currencies) 10,020,554,834 4,601,857,225
11,125,212,454 5,667,502,592
Balance with other Banks and Financial Institutions 4(a)In Bangladesh 2,726,839,850 3,317,446,597 Outside Bangladesh 849,779,375 618,982,002
3,576,619,225 3,936,428,599
Placement with Banks & other Financial Institutions 5 9,015,879,564 7,457,379,564
Investments in Shares & Securities 6(a)Government 2,900,000,000 2,050,000,000 Others 1,764,016,584 1,711,359,758
4,664,016,584 3,761,359,758
Investments 7General Investment etc. 66,459,100,077 48,926,507,517 Bills Purchased and Discounted 9,565,873,831 4,982,068,255
76,024,973,908 53,908,575,772
Fixed Assets including Premises, Furnitures and Fixtures 8(a) 2,256,597,940 2,135,203,543
Other Assets 9(a) 8,165,811,105 7,095,197,636
Non Banking Assets - -
Total Assets 114,829,110,780 83,961,647,464
LIABILITIES AND CAPITAL Liabilities
Placement from Banks & other Financial Institutions 10 4,700,000,000 3,700,000,000
Deposits and Other Accounts 11Mudaraba Savings Deposits 4,905,319,144 3,925,740,731 Mudaraba Term Deposits 62,267,653,508 42,699,279,530 Other Mudaraba Deposits 13,984,000,422 10,498,361,467 Al-Wadeeah Current & Other Deposit Accounts 11.2 (a) 10,585,704,537 8,379,160,525 Bills Payable 11.3 1,465,257,228 905,702,290 Cash Waqf Fund 68,903,770 53,477,204
93,276,838,609 66,461,721,747
Other Liabilities 12(a) 6,699,267,451 4,446,691,591
Deffered Tax Liablities/(Assets) 13 70,528 (5,101,777)
Total Liabilities 104,676,176,587 74,603,311,561
Shareholders’ Equity
Paid-up Capital 14.2 6,393,925,700 6,393,925,700 Statutory Reserve 15 1,718,062,455 1,168,484,261 General reserve 742,431 - Revaluation reserve on Fixed Assets 16 1,109,979,121 1,138,496,825 Retained Earnings 17(a) 930,222,915 657,427,567 Total Shareholders’ Equity of Parent Company, SIBL 10,152,932,622 9,358,334,353
Non controlling Interest 17.2 1,570 1,550
Total Liabilities & Shareholders’ Equity of the Group 114,829,110,780 83,961,647,464
140 Social Islami Bank Limited
Note(s)2012 2011Taka Taka
18.1 12,634,753,997 8,405,119,002 18.2 7,395,594,893 6,784,252,876 18.3 4,949,826,296 3,277,969,675 18.4 2,784,274,732 1,784,609,018 18.5 - -
Total 27,764,449,918 20,251,950,570
OTHER COMMITMENTS
- - - - - -
- - Total - -
Total Off Balance Sheet Items including 27,764,449,918 20,251,950,570
Chairman Director Director Managing Director
e
11 May 2013Syful Shamsul Alam & Co.
Chartered Accountants
141 Annual Report 2012
Note(s) 2012 2011Taka Taka
19(a) 11,325,266,334 6,922,205,589 20 7,541,679,221 4,541,152,612
Net Investment Income 3,783,587,112 2,381,052,977 21 233,816,722 171,112,797
22(a) 1,194,479,560 1,206,193,086 23(a) 337,568,377 387,895,790
1,765,864,659 1,765,201,672 Total Operating Income 5,549,451,771 4,146,254,649 Salaries and Allowances 24(a) 1,081,286,476 894,781,104
25(a) 181,760,278 128,776,905 26(a) 8,618,710 3,448,249 27(a) 28,799,564 21,878,753 28(a) 80,776,376 54,687,078
Managing Director’s Salary and Allowances 29 10,000,000 11,160,000 30(a) 4,094,874 6,112,873
31 117,801 153,976 910,455 596,825
32(a) 149,523,899 82,184,470 33(a) 360,733,108 224,633,377
Total Operating Expenses 1,906,621,541 1,428,413,609
3,642,830,229 2,717,841,040 285,356,045 365,898,418 173,483,062 163,954,940
104,482,499 47,821,392 742,432 -
Provision for other assets 222,654,542 162,630,000 - 57,706,167
34 30,146,894 25,600,000 Provisions for Gratuity 53,811,215 43,907,230 Total Provision 35(a) 870,676,689 867,518,146
2,772,153,541 1,850,322,894
Provision for Income Tax 36(a) 1,306,935,483 817,861,073 1,465,218,057 1,032,461,820
Non-controlling Interest 20 (41) 1,465,218,037 1,032,461,861
AppropriationStatutory Reserve 549,578,194 380,256,045 Retained Earnings 915,639,843 652,205,816
1,465,218,037 1,032,461,861
Earning Per Share (EPS) 37(a) 2.29 1.72 Net Operating Cash Flow per share (NOCFPS) 10.30 2.02Net Asset Value (Crore Taka) 1,015.29 935.83 Net Asset Value (NAV) per share 15.88 14.64
Chairman Director Director Managing Directore
11 May 2013Syful Shamsul Alam & Co.
Chartered Accountants
142 Social Islami Bank Limited
Note(s)2012 2011Taka Taka
Cash Flow from operating activities38(a) 11,325,266,334 6,922,205,589
(5,247,109,745) (4,541,152,612)Dividend receipts 233,816,722 171,112,797
601,843,415 553,496,519 (1,091,286,476) (905,941,104)
(109,575,940) (76,565,831) (929,894,508) (621,735,692)
39(a) 930,204,521 1,031,643,737 40(a) (569,670,338) (371,088,973)
5,143,593,986 2,161,974,430 Changes in operating assets and liabilities
Statutory deposits - - (902,656,827) (2,191,633,165)
- - (22,116,398,136) (17,228,289,827)
Other assets 41(a) (140,718,961) (3,556,197,954) 2,311,519,035 5,173,989,284
22,209,028,350 16,936,840,970 - -
Trading liabilities - - Other liabilities 42(a) 80,878,423 (82,861,899)Sub Total 1,441,651,884 (948,152,591)
A. 6,585,245,870 1,213,821,840
- - - - - 9,924,800
(257,483,184) (154,064,037)Purchase/Sale of subsidiaries - -
B. (257,483,184) (144,139,237)
1,000,000,000 420,000,000 - - - 3,967,815,750
Dividend paid in cash (671,362,199) - C. 328,637,802 4,387,815,750 D. 6,656,400,487 5,457,498,352
E. 17,061,310,755 11,603,812,403 F. 43(a) 23,717,711,242 17,061,310,755
Chairman Director Director Managing Director
11 May 2013
143 Annual Report 2012
Parti
cula
rsPa
id-u
p Ca
pita
lSh
are
Prem
ium
Ac
coun
t
Stat
utor
y Re
serv
e
Gen
eral
/ O
ther
Re
serv
es
Asse
t Re
valu
atio
n Re
serv
e
Reta
ined
Ea
rnin
gs
Non-
Cont
rolli
ng
Inte
rest
Tota
l
12
34
56
78=
(2 to
7)
Bala
nce
as a
t 01
Janu
ary
2012
6,3
93,9
25,7
00
- 1
,168
,484
,261
-
1,1
38,4
96,8
25
657
,427
,567
1
,550
9
,358
,335
,904
C
hang
es in
Acc
ount
ing
Polic
y -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- C
urre
ncy
trans
latio
n di
ffere
nce
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- 1,
465,
218,
037
- 1
,465
,218
,037
-
- 5
49,5
78,1
94
742
,431
-
(549
,578
,194
) -
742
,431
Is
sue
of S
hare
Cap
ital (
Cas
h D
ivid
end)
- -
- -
- (6
71,3
62,1
99)
- (6
71,3
62,1
99)
Issu
e of
Sha
re C
apita
l (R
ight
Sha
re)
- -
- -
- -
- -
Tran
sfer
red
to re
tain
ed e
arni
ngs
- -
- -
(28,
517,
705)
28,
517,
705
- -
- -
- -
- -
20
20
Dece
mbe
r 201
2 6
,393
,925
,700
-
1,7
18,0
62,4
55
742
,431
1
,109
,979
,121
9
30,2
22,9
16
1,5
70
10,
152,
934,
192
969,
527,
561
554
,989
,560
To
tal e
ligib
le c
apita
l as
on 3
1 De
cem
ber 2
012
10,5
67,4
72,1
93
Chai
rman
Dire
ctor
Dire
ctor
Man
agin
g Di
rect
or
11 M
ay 2
013
144 Social Islami Bank Limited
Note(s)2012 2011Taka Taka
PROPERTY AND ASSETSCash
3 1,104,528,222 1,065,642,134 3.1
10,020,554,834 4,601,857,225 11,125,083,056 5,667,499,359
Balance with other Banks and Financial Institutions 4 2,713,496,766 3,317,446,597
849,779,375 618,982,002 3,563,276,141 3,936,428,598
Placement with Banks & other Financial Institutions 5 9,015,879,564 7,457,379,564 Investments in Shares & Securities 6
2,900,000,000 2,050,000,000 Others 3,244,014,984 3,191,358,158
6,144,014,984 5,241,358,158 Investments 7
66,459,100,077 48,926,507,517 9,565,873,831 4,982,068,255
76,024,973,908 53,908,575,772 Fixed Assets including Premises, Furnitures and Fixtures 8 2,249,954,737 2,134,872,562 Other Assets 9 7,042,770,623 6,060,065,086 Non Banking Assets - - Total Assets 115,165,953,013 84,406,179,099
Placement from Banks & other Financial Institutions 10 4,700,000,000 3,700,000,000 Deposits and Other Accounts 11
Mudaraba Savings Deposits 4,905,319,144 3,925,740,731 62,267,653,508 42,699,279,530
Other Mudaraba Deposits 13,984,000,422 10,498,361,467 11.2 10,903,158,399 8,769,989,859 11.3 1,465,257,228 905,702,290
68,903,770 53,477,204 93,594,292,471 66,852,551,081
12 6,689,618,137 4,446,522,996 13 70,528 (5,101,777)
104,983,981,136 74,993,972,300
Paid-up Capital 14.2 6,393,925,700 6,393,925,700 Statutory Reserve 15 1,718,062,455 1,168,484,261
16 1,109,979,121 1,138,496,825 Retained Earnings 17 960,004,602 711,300,013
10,181,971,877 9,412,206,799 115,165,953,013 84,406,179,099
145 Annual Report 2012
Note(s)2012 2011Taka Taka
18.1 12,634,753,997 8,405,119,002
18.2 7,395,594,893 6,784,252,876
18.3 4,949,826,296 3,277,969,675
18.4 2,784,274,732 1,784,609,018
18.5 - -
Total 27,764,449,918 20,251,950,570
OTHER COMMITMENTS
- - - -
- -
- -
Total - - Total Off Balance Sheet Items including
27,764,449,918 20,251,950,570
Chairman Director Director Managing Director
e
11 May 2013Syful Shamsul Alam & Co.
Chartered Accountants
146 Social Islami Bank Limited
Note(s)2012 2011Taka Taka
19 11,319,014,211 6,922,205,589 20 7,541,679,221 4,541,152,612
Net Investment Income 3,777,334,989 2,381,052,977 21 233,816,722 171,112,797 22 1,178,954,865 1,206,193,086 23 324,986,845 387,895,790
1,737,758,432 1,765,201,672 Total Operating Income 5,515,093,421 4,146,254,649 Salaries and Allowances 24 1,078,563,216 893,193,904
25 181,239,535 128,776,905 26 8,618,710 3,430,564 27 28,130,288 21,872,035 28 80,593,969 54,667,648
Managing Director’s Salary and Allowances 29 10,000,000 11,160,000 30 3,795,874 5,480,373 31 117,801 153,976
882,855 512,125 32 148,750,842 82,155,573 33 356,575,106 176,053,176
Total Operating Expenses 1,897,268,196 1,377,456,279 3,617,825,225 2,768,798,371
285,356,045 365,898,418 173,483,062 163,954,940
104,482,499 47,821,392 Provision for other assets 222,654,542 162,630,000
- 57,706,167 34 30,146,894 25,600,000
Provisions for Gratuity 53,811,215 43,907,230 Total Provision 35 869,934,257 867,518,146
2,747,890,968 1,901,280,224 Provision for Income Tax 36 1,306,763,692 817,861,073
1,441,127,276 1,083,419,151 AppropriationStatutory Reserve 549,578,194 380,256,045 Retained Earnings 891,549,083 703,163,106
1,441,127,276 1,083,419,151 Earning Per Share (EPS) 37 2.25 1.81 Net Operating Cash Flow per share (NOCFPS) 10.27 3.66 Net Asset Value (Crore Taka) 1,018.20 941.22 Net Asset Value (NAV) per share 15.92 14.72
Chairman Director Director Managing Director
e
11 May 2013Syful Shamsul Alam & Co.
Chartered Accountants
147 Annual Report 2012
Note(s)2012 2011Taka Taka
Cash Flow from operating activities38 11,319,014,211 6,922,205,589
(5,247,109,745) (4,541,152,612)Dividend receipts 233,816,722 171,112,797
586,318,720 553,496,519 (1,088,563,216) (904,353,904)
(108,724,257) (76,539,683) (926,823,440) (621,735,692)
39 917,622,990 1,031,643,737 40 (564,664,993) (321,773,887)
5,120,886,993 2,212,902,865 Changes in operating assets and liabilities
Statutory deposits - - (902,656,827) (2,191,633,165)
- - (22,116,398,136) (17,228,289,827)
Other assets 41 (55,882,097) (2,518,337,954) 2,311,519,035 5,173,989,284
22,135,652,878 16,827,793,444 - -
Trading liabilities - - Other liabilities 42 71,569,496 (82,956,044)Sub Total 1,443,804,349 (19,434,262)
A. 6,564,691,342 2,193,468,603
- - - - - 9,924,800
(250,397,905) (153,704,159)Purchase/Sale of subsidiaries - -
B. (250,397,905) (143,779,359)
1,000,000,000 420,000,000 - - - 2,987,815,750
Dividend paid in cash (671,362,199) - C. 328,637,802 3,407,815,750 D. 6,642,931,239 5,457,504,993
E. 17,061,307,522 11,603,802,529 F. 43 23,704,238,761 17,061,307,522
Chairman Director Director Managing Director
11 May 2013
148 Social Islami Bank Limited
STAT
EMEN
T O
F CH
ANG
ES IN
EQ
UITY
Parti
cula
rsPa
id-u
p Ca
pita
l
Shar
e Pr
emiu
m
Acco
unt
Stat
utor
y Re
serv
e
Gene
ral
/ Oth
er
Rese
rves
Asse
t Re
valu
atio
n Re
serv
e
Reta
ined
Ea
rnin
gsTo
tal
12
34
56
78=
(2 to
7)
Bala
nce
as a
t 01
Janu
ary
2012
6,3
93,9
25,7
00
- 1
,168
,484
,261
-
1,1
38,4
96,8
25
711
,300
,013
9
,412
,206
,799
Ch
ange
s in A
ccou
nting
Poli
cy -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- Cu
rrenc
y tra
nslat
ion D
iffere
nce
- -
- -
- -
- -
- -
- -
- -
- -
- -
- 1
,441
,127
,276
1
,441
,127
,276
5
49,5
78,1
94
- -
(549
,578
,194
) -
Issue
of S
hare
Cap
ital (
Righ
t Sha
re)
- -
- -
- -
- Iss
ue o
f Sha
re C
apita
l (Ca
sh D
ivide
nd)
- -
- -
- (6
71,3
62,1
99)
(671
,362
,199
)Tr
ansfe
rred
to re
taine
d ea
rning
s -
- -
- (2
8,51
7,70
5) 2
8,51
7,70
5 -
6,3
93,9
25,7
00
- 1
,718
,062
,455
-
1,1
09,9
79,1
21
960
,004
,602
1
0,18
1,97
1,87
7 96
9,52
7,56
1 5
54,9
89,5
60
Tota
l elig
ible
cap
ital a
s on
31
Dece
mbe
r 201
210
,596
,509
,877
Chai
rman
Dire
ctor
Dire
ctor
Man
agin
g Di
rect
or
11 M
ay 2
013
149 Annual Report 2012
Parti
cula
rsUp
to 0
1 M
onth
01-0
3 M
onth
s03
-12
Mon
ths
01-0
5 Ye
ars
Mor
e th
an 0
5 ye
ars
Tota
l
Asse
ts
Cas
h in
han
d 6
,775
,105
,872
-
- -
4,3
49,9
77,1
84
11,
125,
083,
056
Inst
itutio
ns 2
,196
,712
,971
6
83,2
81,5
85
683
,281
,585
-
- 3
,563
,276
,141
Inst
itutio
ns 9
50,0
00,0
00
1,9
80,0
00,0
00
6,0
85,8
79,5
64
- -
9,0
15,8
79,5
64
812
,447
,134
4
00,0
00,0
00
2,3
00,0
00,0
00
1,0
01,5
69,4
50
1,6
29,9
98,4
00
6,1
44,0
14,9
84
5,1
30,6
83,7
88
16,
970,
988,
616
43,
460,
289,
892
6,7
70,1
66,4
68
3,6
92,8
45,1
44
76,
024,
973,
908
11,
642,
563
23,
285,
126
104
,783
,065
5
40,8
24,0
34
1,5
69,4
19,9
49
2,2
49,9
54,7
37
Oth
er A
sset
s 3
,144
,777
,204
3
76,5
72,7
98
2,5
58,4
03,2
23
374
,545
,000
5
88,4
72,3
99
7,0
42,7
70,6
23
- -
- -
- -
Tota
l Ass
ets
19,
021,
369,
532
20,
434,
128,
124
55,
192,
637,
329
8,6
87,1
04,9
52
11,
830,
713,
076
115
,165
,953
,013
800
,000
,000
2
,600
,000
,000
1
,300
,000
,000
-
- 4
,700
,000
,000
D
epos
its a
nd o
ther
acc
ount
s 1
8,35
0,56
4,48
1 1
7,28
5,78
3,16
1 4
4,81
9,73
2,71
0 7
,325
,086
,300
5
,813
,125
,819
9
3,59
4,29
2,47
1 Pr
ovis
ion
and
oth
er li
abilit
ies
23,
331,
644
- -
812
,894
,833
5
,853
,391
,661
6
,689
,618
,137
-
- -
70,
528
- 7
0,52
8 1
9,17
3,89
6,12
4 1
9,88
5,78
3,16
1 4
6,11
9,73
2,71
0 8
,138
,051
,661
1
1,66
6,51
7,47
9 1
04,9
83,9
81,1
36
(152
,526
,592
) 5
48,3
44,9
63
9,0
72,9
04,6
19
549
,053
,291
1
64,1
95,5
97
10,
181,
971,
877
Dire
ctor
Dire
ctor
Man
agin
g Di
rect
orCh
airm
an
11 M
ay 2
013
150 Social Islami Bank Limited
1 The Bank and its activities1.1 Status of the Bank
1.2 Enlistment with the Stock Exchanges
1.3
1.4
Name of the Company Paid up Capital (Taka)Percentage of Share Holding
Others
1 1,230,000,000 99.9999187% 0.0000813%
2 250,000,000 99.9997600% 0.0002400%
Total Capital 1,480,000,000
1.5 Off-Shore Banking Unit (OBU)
151 Annual Report 2012
1.6 Presentation of Financial Statements (BAS-1)
1.7 Compliance of Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting standards (BFRS):
In compliance with BAS No. Status
1 AppliedInventories 2
7 Applied8 Applied
Events After the Reporting Period 10 AppliedConstruction Contracts 11
12 Applied16 Applied17 Applied
Revenue 18 Applied19 Applied2021 Applied23 Applied
Related Party Disclosures 24 Applied2627 Applied28
Interests In Joint Ventures 31
32
Earnings Per Share 33 Applied34 Applied36 Applied
37
Intangible Assets 38 Applied
39
40Agriculture 41
In compliance with BFRS No. Status
123 Applied
Insurance Contracts 456
7
810 Applied
152 Social Islami Bank Limited
22.1 Basis of Preparation of the Financial Statements
2.2 Consolidation Procedures (BAS-27)
Bangladesh Accounting Standard (BAS) 27: Consolidated and Separate Financial Statements,
2.3 Subsidiary
2.4 Functional and Presentation Currency
2.5 Use of estimates and judgements
2.6 Foreign Currency Transactions /Translation
of such transaction(s).
2.7 Reporting Period
2.8 Cash Flow Statement
Bangladesh Accounting Standard (BAS)-7 “ Cash Flow Statement”
2.9
2.10
153 Annual Report 2012
2.11
2.12 Investment in Shares and Securities
At costAt costAt cost
Bangladesh Accounting Standard (BAS)- 39,
2.13 Investments and Provisions
Particulars Rate
1%1%
0.25%2%2%5%5%
General Provision on Special Mention Account 5%20%50%100%
satisfy the conditions of provision as per Bangladesh Accounting Standard (BAS)-37.
154 Social Islami Bank Limited
Bangladesh Accounting Standard (BAS) -37.
2.14 Fixed Assets, Depreciation and Revaluation (BAS-16)Assets have been shown at cost less depreciation as per paragraph 43 of Bangladesh Accounting Standard (BAS)-16
Particulars Rate (%) Estimated life(Years)
2.5 4010 10
Decoration 10 10Mechanical Appliance 20 5Motor Car 20 5
10 10Revaluation
per the respective rate of depreciation.
2.15Authorised capital
of Association.
Paid up Capital
Details are shown in Note-14.2.
Statutory Reserve
2.16
155 Annual Report 2012
2.17 Revenue Recognition (BAS-18)
(i) Investment income & Revenue recognition
Sharing of Investment Income
(ii)
Auditors.(iii)
2.18 Provision for Taxation (BAS-12)(a) Current Tax
considering all applicable allowances and disallowances.(b) Deferred Tax
Bangladesh Accounting Standard (BAS)-12, “Income Taxes”.2.19 Zakat Fund
2.20
(a) Provident Fund
156 Social Islami Bank Limited
(a) Gratuity
2.21 Reconciliation of Inter Bank / Branch Transactions
2.22 Risk Management
(a) Investment Risk Management
designed to address all these issues.
strategy for lending operation etc.
(b) Foreign Exchange Risk Management
157 Annual Report 2012
(c)
(d)
(e) Internal Control and Compliance
158 Social Islami Bank Limited
(f) Information and Communication Technology
2.23 Earning Per Share (BAS-33)
Bangladesh Accounting Standard (BAS)-33: Earnings Per Share (EPS),
159 Annual Report 2012
2012 2011
Taka Taka
3 Cash In hand:In local currency 1,086,536,063 1,055,138,052 In foreign currencies 5,128,359 5,305,482 ATM balance 12,863,800 5,198,600
1,104,528,222 1,065,642,134
In Foreign Currencies
Foreign Currency Amount in FC Exchange
Rate
63,865.00 80.30 5,128,359 5,305,482 - - - -
5,128,359 5,305,482 3(a) Consolidated balance of cash in hand
1,104,528,222 1,065,642,134
Cash in hand of Subsidiary companies 129,398 3,233 116,228 3,233 13,170 -
1,104,657,620 1,065,645,367 3.1 Balance with Bangladesh Bank and its agent bank (Sonali Bank)
9,912,135,883 4,479,664,595 108,418,951 122,192,630
10,020,554,834 4,601,857,225 3.1.1 Balance with Bangladesh Bank (Including foreign currencies)
In local currency 8,702,803,548 3,990,069,190 In foreign currencies 1,209,332,335 489,595,405
9,912,135,883 4,479,664,595
3.1.2 Balance with Sonali Bank (as agent of Bangladesh Bank)
In local currency 108,418,951 122,192,630
3.2
3.3 4,349,977,184 3,341,108,870
Actual Reserve held (in local currency) 8,811,222,499 4,112,261,821 Surplus 4,461,245,315 771,152,951
160 Social Islami Bank Limited
2012 2011
Taka Taka3.4
8,337,456,270 6,403,792,000 Actual Reserve held (Note- 3.5) 14,025,083,056 7,717,499,359 Surplus 5,687,626,786 1,313,707,359
3.5
Cash in hand (Note- 3) 1,104,528,222 1,065,642,134 (Note-3.1) 10,020,554,834 4,601,857,225
2,900,000,000 2,050,000,000 14,025,083,056 7,717,499,359
4 Balance with Other Banks and Financial Institutions
(Note - 4.1) 2,713,496,766 3,317,446,597 (Note- 4.2) 849,779,375 618,982,002
3,563,276,141 3,936,428,598 4(a) Consolidated balance of other Banks and Financial Institutions
In Bangladesh
2,713,496,766 3,317,446,597
Add: Account Balance of subsidiaries of SIBL with SIBL Principal Branch 317,453,862 390,829,335 67,498,715 140,863,267
249,955,147 249,966,068
3,030,950,628 3,708,275,931
Less: Inter company balance eliminated 317,453,862 390,829,335
67,498,715 140,863,267 249,955,147 249,966,068
13,343,084 - 13,343,084 -
- -
Consolidated balance with Banks and Financial Institutions 2,726,839,850 3,317,446,597
13300057058 respectively.
4.1 Inside BangladeshCurrent Account
5,132,544 3,558,964 16,742,099 23,416,928
- 540 - 441
7,936,152 4,043,845 4,207,787 4,091,108 2,787,307 2,548,477
- 2,111 36,805,889 37,662,414
161 Annual Report 2012
2012 2011
Taka Taka
4.2 Mudaraba Short Notice Deposits
790,819 4,093,769 16,092 15,130
1,671,876 5,273,050 8,272 9,181 1,456 2,524
487,240 473,320 1,003,221 3,406
866,873,778 100,000,000 280,426,511 1,014,817
7,008,090 1,717,865 1,158,287,355 112,603,062
4.3 Mudaraba Saving Deposit
310,957,544 219,669,126 82,814 83,624
2,262,515 11,752,269 4,766,449 140,584,717
57,724,211 202,065,506 404,460,677 811,133,574 305,830,073 2,782,364
57,657,256 1,303,650,930 366,932,088 314,560,213
7,729,895 160,898,797 1,518,403,522 3,167,181,120
Total 2,713,496,766 3,317,446,597
20124.4 Outside Bangladesh (NOSTRO Account)Currency F.C. Amount Rate TakaCurrent Account with
2,743.92 106.17 291,329 21,457.28 80.30 1,723,020
5,043,759.13 80.30 405,013,818 307.14 80.30 24,663
5,002.07 80.30 401,666 68,859.91 106.17 7,311,040
116,280.74 129.85 15,099,418 2,527.55 129.85 328,210
624,272.00 0.96 599,424 4,905,640.86 80.30 393,923,013
36,953.87 80.30 2,967,396 32,036.25 80.30 2,572,511 23,683.79 80.30 1,901,808 70,294.82 80.30 5,644,674 19,512.98 80.30 1,566,892 56,979.26 80.30 4,575,435 13,518.72 80.30 1,085,553 25,054.05 80.30 2,011,840 25,785.02 106.17 2,737,664
849,779,375
162 Social Islami Bank Limited
Currency wise Distribution: 2012 2011 2012 2011Foreign Currency Composition Composition Taka Taka
96.89% 95.46% 823,387,626 590,899,688 1.82% 2.12% 15,427,628 13,134,950 1.22% 0.81% 10,340,033 5,038,188 0.07% 1.60% 599,424 9,909,176 100% 100% 849,754,712 618,982,002
4.5 Maturity-wise groupings of balance with otherBanks and Financial Institutions (Both in Bangladesh and outside Bangladesh)
2,196,712,971 1,085,965,591 683,281,585 1,425,231,504 683,281,585 1,425,231,504
- - More than 5 years - -
3,563,276,141 3,936,428,598 5 Placement with Banks & other Financial Institutions
6,225,879,564 5,927,379,564 2,790,000,000 1,530,000,000 9,015,879,564 7,457,379,564
5.1 Mudaraba Term Deposits with Banks
225,879,564 227,379,564 900,000,000 1,200,000,000 400,000,000 400,000,000
- 300,000,000 200,000,000 -
1,800,000,000 1,900,000,000 1,000,000,000 300,000,000
300,000,000 300,000,000 1,200,000,000 1,300,000,000
200,000,000 - 6,225,879,564 5,927,379,564
5.2 Mudaraba Term Deposits with Other Financial Institutions
450,000,000 200,000,000 30,000,000 30,000,000
150,000,000 150,000,000 750,000,000 350,000,000 700,000,000 100,000,000
- 100,000,000 400,000,000 300,000,000 150,000,000 100,000,000
- 50,000,000 150,000,000 150,000,000
- - 10,000,000 -
2,790,000,000 1,530,000,000
163 Annual Report 2012
2012 2011
Taka Taka
5.3 Maturity-wise groupings of placement withBanks and other Financial Institutions
950,000,000 - 1,980,000,000 3,930,000,000 6,085,879,564 3,527,379,564
More than 1 year but less than 5 years - - More than 5 years - -
9,015,879,564 7,457,379,564 6 Investment in Shares & Securities
Government 2,900,000,000 2,050,000,000 2,900,000,000 2,050,000,000
Others 738,620,499 706,943,058
2,631,567,850 2,484,415,100 3,370,188,349 3,191,358,158
(126,173,365) -
Value of Investment in Shares and securities, Others 3,244,014,984 3,191,358,158
Grand Total 6,144,014,984 5,241,358,158
Maturity-wise Grouping of Investment in Securities: 812,447,134 706,943,058 400,000,000 -
2,300,000,000 2,050,000,000 1,001,569,450 1,004,416,700
More than 5 years 1,629,998,400 1,479,998,400 6,144,014,984 5,241,358,158
6(a) Consolidated Investment in Shares and Securities
Government 2,900,000,000 2,050,000,000 2,900,000,000 2,050,000,000
Others sectors 3,244,014,984 3,191,358,158
Investments in Subsidiaries 1,479,998,400 1,479,998,400 1,229,999,000 1,229,999,000
249,999,400 249,999,400
Consolidated Investment in others sectors 1,764,016,584 1,711,359,758
Total consolidated balance of Investment in shares and securities 4,664,016,584 3,761,359,758
6.1
164 Social Islami Bank Limited
2012 2011
Taka Taka
6.2 Investment in Shares (Quoted) 11,965,679 12,801,614
1,071,536 1,108,992
13,448,025 13,432,587
8,352,234 8,259,903
4,633,704 4,476,923
17,639,340 17,160,145
17,144,838 15,598,482
20,000,000 -
65,945,448 48,345,984
59,533,246 54,042,416
- 13,432,625
42,489,473 32,205,526
28,687,500 26,382,302
34,856,688 34,856,688
27,362,281 44,078,416
16,106,827 11,376,776
25,248,318 25,248,318
10,580 10,580
59,048,343 59,048,343
285,076,438 285,076,438 738,620,499 706,943,058
6.3 1,569,450 4,416,700
500,000,000 500,000,000
1,229,999,000 1,229,999,000
249,999,400 249,999,400
500,000,000 500,000,000
150,000,000 -
2,631,567,850 2,484,415,100
and
and
6.4 Government Bond (BD Govt. Islamic Bond) 2,900,000,000 2,050,000,000
165 Annual Report 2012
6.5 2012Taka
ParticularsNo. of
Shares/ Securities
Market price per Shares
Fair value/ Market value as on 31-12-2012
Cost price as on 31-12-2012
Fair value adjustment
Quoted Shares
14,300 850.00 12,155,000 11,965,679 189,321 4,000 319.00 1,276,000 1,071,536 204,464
78,700 147.50 11,608,250 13,448,025 (1,839,775) 52,900 129.70 6,861,130 8,352,234 (1,491,104) 31,600 107.10 3,384,360 4,633,704 (1,249,344)
174,500 78.00 13,611,000 17,639,340 (4,028,340) 248,660 49.90 12,408,134 17,144,838 (4,736,704)
2,000,000 9.20 18,400,000 20,000,000 (1,600,000)
2,000,050 25.10 50,201,255 65,945,448 (15,744,193)
810,000 33.70 27,297,000 59,533,246 (32,236,246) 1,500,000 20.80 31,200,000 42,489,473 (11,289,473)
805,600 21.50 17,320,400 28,687,500 (11,367,100) 922,922 24.80 22,888,466 34,856,688 (11,968,222) 315,000 65.30 20,569,500 27,362,281 (6,792,781) 400,000 26.80 10,720,000 16,106,827 (5,386,827) 175,000 64.40 11,270,000 25,248,318 (13,978,318)
120 79.70 9,564 10,580 (1,016) 1,531,250 28.50 43,640,625 59,048,343 (15,407,718)
314,820,684 453,544,061 (138,723,377)
Particulars No. of Shares/ Securities
Market price per Shares
Fair value/ Market value as on 31-12-2012
Cost price as on 31-12-2012
Fair value adjustment
2012Taka
Quoted Bond 299,800 992.75 297,626,450 285,076,438 12,550,012
297,626,450 285,076,438 12,550,012 Preference Shares
50,000,000 - 500,000,000 500,000,000 -
500,000,000 500,000,000 -
456,945 - 1,569,450 1,569,450 - 5,000,000 - 500,000,000 500,000,000 -
300 - 150,000,000 150,000,000 -
651,569,450 651,569,450 -
Grand Total 1,764,016,584 1,890,189,948 (126,173,365)
6.6other than investment in subsidiaries
1,890,189,948 -
(126,173,365) - 1,764,016,584 -
166 Social Islami Bank Limited
Investments in Shares and Securities’ other than investments in subsidiaries under the category ‘Financial
Bangladesh Accounting Standard (BAS)-39, Financial Instruments: Recognition and Measurement.
2012 2011Taka Taka
7 Investments
In Bangladesh 66,459,100,077 48,926,507,517
2,546,846,049 2,795,822,525
Outside Bangladesh 7,019,027,782 2,186,245,730
76,024,973,908 53,908,575,772
With a residual maturity of 5,130,683,788 6,757,878,829
16,970,988,616 11,850,289,904 43,460,289,892 20,860,512,641
6,770,166,468 9,229,469,528 Over 5 years 3,692,845,144 5,210,424,870
76,024,973,908 53,908,575,772
7.1 Mode-Wise Investment (General)
a) In Bangladesh 541,697,156 393,370,486
Murabaha 5,571,248,529 2,898,887,389 Mudaraba 203,153,922 -
40,705,723,827 28,631,907,606 12,156,391,561 11,889,138,794
245,009 821,008 Quard 6,361,565,166 4,528,275,200
59,592,522 4,153,759 591,391,402 389,000,180
Ijarah 185,294,803 151,643,474 Visa Card 82,796,180 39,309,621
66,459,100,077 48,926,507,517
Mode-Wise Investment (General)b) Outside Bangladesh
- - Murabaha - -
- - - - - -
Quard - - - -
Others - - - -
167 Annual Report 2012
2012 2011Taka Taka
7.2 Bills Purchased and discounted Inside Bangladesh
2,546,846,049 2,795,822,525
Bills Purchased and discounted Outside Bangladesh
53,498,799 202,769,258 2,670,155,998 854,666,386 1,586,192,651 658,117,990 2,709,180,334 470,692,096 7,019,027,782 2,186,245,730
Grand total of net Bills Purchased and Discounted 9,565,873,831 4,982,068,255
7.2.1 Bills Purchased and Discounted
2,546,846,049 2,795,822,525 7,820,912,687 2,939,755,050
Gross Bills Purchased and Discounted 10,367,758,736 5,735,577,575 801,884,905 753,509,320
Net Bills Purchased and Discounted 9,565,873,831 4,982,068,255
3,348,055,841 1,667,299,305 3,348,055,841 2,838,397,720 2,869,762,149 476,371,230
- - 9,565,873,831 4,982,068,255
7.3 2012 2011
0.00% 0.03% 2,050,000 13,754,000 0.88% 1.03% 669,332,251 554,328,324
65.82% 60.34% 50,041,324,437 32,529,743,788 33.29% 38.60% 25,312,267,220 20,810,749,660
Others 0.00% 0.00% - - 100.00% 100.00% 76,024,973,908 53,908,575,772
Investments allowed to individual customer exceeding 15% of Bank’s total capital:
Details information of Investment more than 10% of Bank’s total capital
168 Social Islami Bank Limited
Sl no. Name of client
Outstanding as on 31 December 2012
Outstanding as on 31 December 2011
Total Total
1 M/s. Agrani Traders, Ovi Traders and A M Trading 108.84 179.802 215.50 156.843 198.42 139.424 151.76 115.895 126.14 - 6 112.93 - 7 109.54 - 8 - 97.62
7.4
Sector As at 31 December 2012 As at 31 December 2011Amount Composition Amount Composition
27,465,574,275 36.13% 17,260,836,896 32.02% 6,209,299,904 8.17% 4,458,018,423 8.27% 3,039,253,391 4.00% 2,501,584,455 4.64%
630,487,762 0.83% 4,027,654,013 7.47% 6,468,970,678 8.51% 90,675,497 0.17%
2,467,586 0.00% 17,141,365 0.03% 6,225,270,841 8.19% 4,173,833,140 7.74%
2,050,000 0.00% 13,754,000 0.03% 669,332,251 0.88% 554,328,324 1.03%
Agricultural Industries 911,387,936 1.20% 1,206,903,987 2.24% 7,860,528,990 10.34% 5,358,306,425 9.94% 1,533,409,397 2.02% 1,711,630,445 3.18%
222,720,897 0.29% 1,389,103,673 2.58% 346,473,330 0.46% 242,702,156 0.45%
Construction Industries 3,093,782,032 4.07% 1,785,602,245 3.31% 561,181,572 0.74% 25,432,069 0.05%
Service Industries 543,020,302 0.71% 537,025,565 1.00% 1,007,335,645 1.33% 1,066,803,846 1.98%
Other Industries 9,232,427,119 12.14% 7,487,239,248 13.89%Total 76,024,973,908 100.00% 53,908,575,772 100.00%
7.5
Division As at 31 December 2012 As at 31 December 2011Amount Composition Amount Composition
50,654,663,564 66.63% 37,100,282,799 68.82%Chittagong 16,861,249,797 22.18% 11,592,344,131 21.50%Sylhet 4,516,622,008 5.94% 251,249,450 0.47%Rajshahi 236,166,458 0.31% 2,814,042,078 5.22%
3,103,393,720 4.08% 1,904,802,487 3.53%Rangpur 489,037,823 0.64% 245,250,052 0.45%
163,840,538 0.216% 604,775 0.001%Total 76,024,973,908 100.00% 53,908,575,772 100.00%
169 Annual Report 2012
2012 2011Taka Taka
7.6 72,769,842,801 51,217,117,969
Special Mentioned Account 6,953,779 5,562,000 Substandard 247,958,549 85,044,657 Doubtful 66,702,397 245,437,575
2,216,673,225 1,783,944,571 75,308,130,751 53,337,106,772
45,986,583 15,437,000 - - - -
1,524,323 1,704,000 47,510,906 17,141,000
669,332,251 554,328,000 76,024,973,908 53,908,575,772
7.7
691,883,063 518,400,500 970,134,818 691,946,712 277,644,499 173,162,000
1,939,662,380 1,383,509,212
7.7.1 Detail Particulars of Provision for Investment
Rate Base for Provision
Standard 1% 65,406,256,808 654,062,568 471,370,100 0% - - - 5% 20,216,950 1,010,848 4,484,800
0.25% 6,439,869,888 16,099,675 40,153,000 2% 898,114,580 17,962,292 1,230,280 2% 5,384,574 107,691 113,620 5% 6,813,200 340,660 276,700 1% 27,764,449,918 277,644,499 173,162,000
Substandard 20% 148,175,281 29,635,056 10,212,800 Doubtful 50% 13,817,558 6,908,779 35,801,500
100% 933,590,983 933,590,983 645,932,412 1,937,363,051 1,382,737,212
5% 45,986,583 2,299,329 772,000
5% - - 5% - -
100% - - 2,299,329 772,000
1,939,662,380 1,383,509,212
Total provision maintained 1,939,662,380 1,383,509,212
Provision Surplus/(Shortfall) - -
170 Social Islami Bank Limited
2012 2011Taka Taka
Provision Made: (Other than Short term Agricultural & Micro Credit)
Standard 966,887,573 690,513,800 SMA 340,660 276,700
Substandard 29,635,056 10,212,800 Doubtful 6,908,779 35,801,500
933,590,983 645,932,412 1,937,363,051 1,382,737,212
Provision Made: (Short term Agricultural & Micro Credit)
2,299,329 772,000 - - - - - -
2,299,329 772,000
Grand Total 1,939,662,380 1,383,509,212
- -
7.7.2 Particulars of provision for Off-Balance Sheet itemsBasis for
Status Rate Provision
1% 27,764,449,918 277,644,499 173,162,000 277,644,499 173,162,000 277,644,499 173,162,000
Surplus Provision - -
7.8 Particulars of Investments:
(i) 62,675,946,788 39,346,567,926 (ii)
security other than the debtor’s personal security 10,073,828,666 10,713,342,886 (iii)
parties in addition to the personal security of the debtors 3,275,198,454 3,848,664,960 (iv) - -
Total 76,024,973,908 53,908,575,772
(v)either severally or jointly with any other person 671,382,251 568,082,324
(vi) 3,237,000 14,941,000
(vii)
persons. 10,403,108 10,248,984
(viii)
171 Annual Report 2012
2012 2011Taka Taka
2,532,858,494 2,116,130,803
2,168,870,700 1,547,229,221
138,567,510 621,641,479 2,307,438,210 2,168,870,700
107,115,000 87,115,000 2,307,438,210 2,168,870,700
304,827,189 283,964,994
8 Fixed Assets including Premises, Furnitures and Fixtures
A. Cost
12,330,000 12,330,000 1,719,061,103 1,719,061,103
343,209,238 244,885,191 528,531,089 376,747,139
Vehicles 52,918,377 52,681,278 1,043,853 991,043
2,657,093,659 2,406,695,754
B. Accumulated Depreciation
- - 61,091,670 18,579,633
101,740,643 80,522,208 211,092,910 147,995,380
Vehicles 32,603,319 24,160,694 610,381 565,277
407,138,922 271,823,192
Carrying value 2,249,954,737 2,134,872,562
8(a) Consolidated written down value of Fixed Assets including Premises
2,249,954,737 2,134,872,562 Fixed assets of subsidiaries
6,643,203 330,981 - -
Carrying value of Fixed assets of the Group 2,256,597,940 2,135,203,543
172 Social Islami Bank Limited
2012 2011Taka Taka
9 Others Assets
15,992,283 12,273,865 145,434,127 99,398,820
Security Deposit 3,948,732 3,974,914 2,522,022,946 3,010,096,228
376,127,658 290,156,467 33,569 5,634,266
411,571 302,875 955,088 43,243
2,391,120,492 1,464,297,052 1,875,347 1,377,245 1,401,205 1,340,205
374,545,000 325,260,000.00 203,132,011 -
4,144,364 - 1,205,337,688 845,909,906 7,246,482,081 6,060,065,086
203,132,011 - 579,447 -
Grand total after elimination of balance with OBU 7,042,770,623 6,060,065,086
9(a) Consolidated other Assets
7,042,770,623 6,060,065,086
Add: Other assets of subsidiary companies 1,126,317,034 1,037,850,000
307,000,000 307,000,000 720,650,000 720,650,000
3,071,068 - 498,102 -
Advance to Interior Decorator 1,300,000 - 167,600 -
5,973,754 - 74,243,154 - 3,213,356 -
200,000 200,000 Security Deposit to DSE 10,000,000 10,000,000
- -
3,276,552 2,717,450 1,875,347 1,377,245 1,401,205 1,340,205
8,165,811,105 7,095,197,636
173 Annual Report 2012
2012 2011Taka Taka
9.1
Number of Amount (in Tk) ofUnrespondent entries Unrespondent entries2012 2011 2012 2011 38 357 2,266,666,249 3,009,161,228 9 6 255,356,697 700,000 - 1 - 200,000 - 1 - 35,000
47 365 2,522,022,946 3,010,096,228
9.2
Particulars Base for Provision Rate Provision Provision
8,794,818 100% 8,794,818 349,581 356,443,392 0% - - 10,889,448 50% 5,444,724 3,126,493
376,127,658 14,239,542 3,476,074 Provision Kept 14,239,542 3,500,000
Excess / (Shortfall) - 23,926
9.3
on account of sell of securities.
9.4 Others
48,877,717 26,254,615 DD paid without Advice 938,534 2,203,212
3,289,774 2,441,340 561,798,420 399,424,171
Advance VAT paid 1,907,589 - 53,255 -
383,644,225 278,062,361 37,695,442 26,116,102
167,132,732 111,408,106 1,205,337,688 845,909,906
9.4.1 Clearing Adjustment
9.4.2 Adjusting A/c debit balance 561,798,420 399,424,171
174 Social Islami Bank Limited
2012 2011Taka Taka
10 Placement from Banks & Other Financial Institutions
Bangladesh Govt. Islamic Bond. 4,700,000,000 3,700,000,000
Maturity Grouping of Borrowings
800,000,000 500,000,000 2,600,000,000 1,200,000,000 1,300,000,000 2,000,000,000
- - 4,700,000,000 3,700,000,000
11 Deposits and Other Accounts
Mudaraba Savings Deposits (MSD) 4,905,319,144 3,925,740,731 62,267,653,508 42,699,279,530
Other Mudaraba Deposit 13,984,000,422 10,498,361,467 3,524,027,294 2,675,835,940
(Note-11.1) 10,459,973,128 7,822,525,527 (Note- 11.2) 10,903,158,399 8,769,989,859
(Note-11.3) 1,465,257,228 905,702,290 68,903,770 53,477,204
93,594,292,471 66,852,551,081 11.1 Mudaraba Scheme Deposits
Mudaraba Hajj Savings Deposit 15,363,209 9,965,055 Mudaraba Pension Savings Deposit 3,015,352,007 2,558,605,455 Mudaraba Education Deposit 90,148,754 101,526,250 Mudaraba Monthly Savings Deposit 174,239,208 178,440,186
1,275,650,566 1,443,590,093 382,359,331 328,558,421
Mudaraba Millionaire Savings Deposit 259,793,833 202,617,479 365,981,761 357,480,158
2,186,825,125 2,326,258,617 Mudaraba Marriage Savings Deposit 149,623,827 132,482,684 Mudaraba Moharana Savings Deposit 11,940,815 9,748,475
24,909,572 8,021,368 253,316,984 50,906,224
Sabuj Chayanna Special Deposit 187,537,598 17,005,916 Sabuj Chaya Pension Deposit 74,920,687 43,014,459 Sanchita Special Deposit 25,772,406 8,406,911 Shonali Din Pension Deposit 294,937,281 7,295,396
927,442 13,818 172,936,700 7,600,000
1,443,001,879 30,605,107 Shopner Shiri Deposit 31,619,273 383,456
22,814,869 - 10,459,973,128 7,822,525,527
175 Annual Report 2012
2012 2011Taka Taka
11.2 Al-Wadeeah Current Deposit & other A/c
4,184,770,966 3,782,899,647 Sundry deposit 2,867,259,107 2,588,360,587 Social fund deposit 17,075 17,075 Supervision charge 1,316,661 1,255,687
1,342,995 1,828,030 526,405,519 138,951,381
9,258,398 5,700,674 1,686,037,343 1,084,337,069 1,619,177,384 1,156,299,370
7,572,951 10,340,339 10,903,158,399 8,769,989,859
11.2(a) Consolidated balance of Al-Wadeeah Current Deposit & Other A/c 10,903,158,399 8,769,989,859
Less: Intercompany balance eliminated 317,453,862 390,829,334 67,498,715 140,863,267
249,955,147 249,966,068
Consolidated balance of Current deposit and other accounts 10,585,704,537 8,379,160,525
11.3 Bills Payable
745,531,289 464,666,616 13,293,855 26,975,702
706,432,085 414,059,971 1,465,257,228 905,702,290
11.4 Maturity wise classifcation of Deposits
971,957,170 811,823,831 17,378,607,310 7,790,007,779 27,947,482,142 19,972,996,612 34,158,033,729 24,411,440,304
More than 1 year but up to 5 years 7,325,086,300 7,805,552,152 More than 5 years but up to 10 years 5,813,125,819 6,060,730,403
93,594,292,471 66,852,551,081 11.5 Segregation of deposits & other accounts
i) Client Deposit10,903,158,399 8,769,989,859 1,465,257,228 905,702,290
Mudaraba Savings Deposits 4,315,923,069 3,886,518,646 3,520,518,010 2,673,671,701
50,357,653,508 32,549,279,530 10,459,973,128 7,822,525,527
68,903,770 53,477,204 81,091,387,112 56,661,164,757
176 Social Islami Bank Limited
2012 2011Taka Taka
ii) Bank Deposit11,910,000,000 10,150,000,000
3,509,284 2,164,239 Mudaraba Savings Deposit (MSD) 589,396,075 39,222,085
12,502,905,359 10,191,386,324
Grand Total of deposits and other accounts 93,594,292,471 66,852,551,081
12
11,623,498 5,974,078 Other Payable 1,291,813 2,655,875
383,644,225 278,062,361 (note: 12.1) 221,373,660 157,509,899
37,695,442 26,116,102 3,184,624 3,101,407
- 20,403 3,820,731 3,716,548
- 2,611,720 ( note: 12.2) 1,939,662,380 1,383,509,212
(note:12.3) - 57,706,167 388,370,542 166,130,000
(note: 12.5) 304,827,189 283,964,994 (note: 12.6) 3,343,147,121 2,041,555,734
(note: 12.7) 44,381,311 33,888,497 (note: 12.8) 6,595,602 -
6,689,618,137 4,446,522,996
12(a) 6,689,618,137 4,446,522,996
Add: Other Liabilities of subsidiariesSIBL Securities Limited 9,591,813 124,895
1,907,160 119,895 Payable to regulators 1,294,903 - Payable to clients 6,212,959 -
176,791 5,000
SIBL Investment Limited 57,500 43,700 52,500 38,700
5,000 5,000
6,699,267,451 4,446,691,591
12.1 167,132,732 111,408,106
Add: Provision for GratuityOpening balance 46,101,793 32,319,513 Current year Provision 53,811,215 43,907,230
3,826,120 - 103,739,128 76,226,743 (9,498,200) (5,124,950)
(40,000,000) (25,000,000)Balance of provision for gratuity at year end 54,240,928 46,101,793
Grand total of gratuity fund balance 221,373,660 157,509,899
177 Annual Report 2012
2012 2011Taka Taka
12.2 Provision for Investment
Provision held at the beginning of the year 691,947,212 487,492,847 (138,567,510) (409,544,053)
71,081,185 248,100,000 57,706,167 -
2,611,720 - 285,356,045 365,898,418
Provision held at the end of the year 970,134,819 691,947,212
(b) General Provision on InvestmentProvision held at the beginning of the year 518,400,000 354,445,060 Addition during the year 173,483,062 163,954,940 Balance at the end of the year 691,883,062 518,400,000 Total Provision on Investments 1,662,017,881 1,210,347,212
(c) General Provision on Off-Balance Sheet itemsProvision held at the beginning of the year 173,162,000 125,340,608 Addition during the year 104,482,499 47,821,392 Balance at the end of the year 277,644,499 173,162,000
1,939,662,380 1,383,509,212
12.3 Provision for diminution in value of shares
Provision held at the beginning of the year 57,706,167 - Addition during the year - 57,706,167
(57,706,167) - 57,706,167
12.4 Provision for other Assets
Provision held at the beginning of the year 166,130,000 3,500,000 (414,000) -
Addition during the year 222,654,542 162,630,000 Balance at the end of the year 388,370,542 166,130,000
12.5 Compensation & Rent Suspense A/C
Compensation Receivable A/CMurabaha (General) 11,100,091 6,302,341
3,713,758 3,471,968 1,197,671 625,924
26,460,794 14,154,595 6,424,759 8,550,393 1,449,594 975,694
50,346,667 34,080,915 Compensation Suspense A/CMurabaha (General) 25,632,021 37,639,906
29,432,124 36,138,640 71,214,856 79,327,129
178 Social Islami Bank Limited
2012 2011Taka Taka
61,081 129,178 13,842,860 33,086,373 11,647,069 7,053,974
Others 25,985,873 8,751,142 177,815,885 202,126,343
Rent Suspense A/C 76,664,637 47,757,736
Total Compensation & Rent Suspense 304,827,189 283,964,994
12.5.1 Movement of Compensation and Rent Suspense A/C
283,964,994 283,448,368 147,013,749 178,621,325 (81,460,516) (40,931,322) (44,691,039) (137,173,376)
Balance at the end of the year 304,827,189 283,964,994
12.6 Provision for Taxation
Provision for Current tax 2,041,555,734 1,225,191,137 1,301,591,387 816,364,597 3,343,147,121 2,041,555,734
Advance tax 1,464,297,052 842,561,360
Paid during the year 926,823,440 621,735,692 2,391,120,492 1,464,297,052
Balance at the end of the year 952,026,629 577,258,682
12.6.1 Provision made during the year
3,617,825,225 2,768,798,371
Add: amount to be deducted for separate consideration 175,331,524 111,233,061
840,010,580 1,018,782,632
Total Taxable Income 2,953,146,168 1,861,248,800
Total Tax liability for current year 1,255,087,122 791,030,740
46,245,187 24,182,918 259,079 1,150,940
1,301,591,387 816,364,597
Provision made 1,301,591,387 816,364,597
12.7 Provision for Zakat
33,888,497 23,889,962 Addition this year 30,146,894 25,600,000
(19,654,080) (15,601,465)Closing Balance at the end of the year 44,381,311 33,888,497
179 Annual Report 2012
2012 2011Taka Taka
12.8
- - Addition the year 6,595,602 -
- - Closing Balance at the end of the year 6,595,602 -
13
(5,101,777) (6,598,253) 5,172,304 1,496,476
Closing balance at the end of the year 70,528 (5,101,777)
14 Capital
14.1 Authorized Capital
10,000,000,000 10,000,000,000
14.2 Issued, Subscribed and Paid up Capital
6,393,925,700 6,393,925,700
Break up of paid up capital is as follows
260,000,000 260,000,000 4,773,229,450 4,773,229,450 1,360,696,250 1,360,696,250 6,393,925,700 6,393,925,700
Sponsor Shareholders Group 2,032,017,980 1,474,005,730 General Shareholders Group 4,361,907,720 4,919,919,970
6,393,925,700 6,393,925,700
14.3
Year 2012No. of
Shareholders No. of shares Percentage of holding of shares
33,009 6,530,028 1.02%501 to 5,000 shares 38,886 65,621,940 10.26%5,001 to 10,000 shares 3,496 24,935,347 3.90%10,001 to 20,000 shares 1,724 23,145,340 3.62%20,001 to 50,000 shares 854 24,988,897 3.91%50,001 to 99,999 shares 544 494,171,018 77.29%Total 78,513 639,392,570 100.00%
180 Social Islami Bank Limited
Year 2011Shareholding range Folio Share Percentage
32,742 7,229,892 1.13%501 to 5,000 shares 50,838 86,927,237 13.60%5,001 to 10,000 shares 4,837 34,598,134 5.41%10,001 to 20,000 shares 2,407 32,642,390 5.11%20,001 to 50,000 shares 1,281 38,655,537 6.05%50,001 to 99,999 shares 746 439,339,380 68.71%Total 92,851 639,392,570 100.00%
14.4 Particulars of shareholding and Percentage Analysis
Particulars of shareholding: Year 2012 2012 2011Number of
Share holdersNumber of
Shares Taka Taka
25 146,510,956 1,465,109,560 1,169,066,560 8 4,020,633 40,206,330 41,796,330 5 52,670,209 526,702,090 263,142,840
General Public 77,955 333,194,822 3,331,948,220 4,009,616,760 69 21,874,567 218,745,670 361,984,960
Institution (Others) 346 73,648,501 736,485,010 445,188,010 76 3,383,041 33,830,410 40,239,500 2 256,216 2,562,160 13,974,660 2 3,079,046 30,790,460 44,905,460 9 238,781 2,387,810 1,607,810
14 240,281 2,402,810 2,402,810 2 275,517 2,755,170 -
78,513 639,392,570 6,393,925,700 6,393,925,700
2012 2011Percentage of shareholding Analysis: Percentage Percentage
22.91% 18.28%
0.63% 0.65%8.24% 4.12%
General Public 52.11% 62.71%3.42% 5.66%
Institution (Others) 11.52% 6.96%0.53% 0.63%0.04% 0.22%0.48% 0.70%0.04% 0.03%0.04% 0.04%0.04% -
100.00% 100.00%
181 Annual Report 2012
2012 2011Taka Taka
14.5
a) Core Capital ( Tier -I)
i) Paid-up Capital 6,393,925,700 6,393,925,700 ii) Statutory Reserve (Note: 15) 1,718,062,455 1,168,484,261 iii) Retained Earnings (Note: 17) 960,004,602 711,300,013
9,071,992,756 8,273,709,974
b) Supplementary Capital (Tier-II)
i) General Provision 969,527,561 691,562,000 ii) Assets Revaluation Reserve (eligible) 554,989,561 569,248,413
1,524,517,122 1,260,810,413
10,596,509,878 9,534,520,386
d) Total Risk Weighted Assets 91,983,417,500 72,389,448,000
9,198,341,750 7,238,944,800
f) Total Capital Surplus (c-e) 1,398,168,128 2,295,575,586
a) Core Capital ( Tier -I)
i) Paid-up Capital 6,393,925,700 6,393,925,700 1,718,062,455 1,168,484,261
iii) General Reserve 742,431 - 930,222,916 657,427,567
9,042,953,501 8,219,837,527 b) Supplementary Capital (Tier-II)
i) General Provision 969,527,561 691,562,000 ii) Assets Revaluation Reserve (eligible) 554,989,560 569,248,413
1,524,517,122 1,260,810,413
10,567,470,623 9,480,647,940
d) Total Risk Weighted Assets 91,517,867,500 72,552,477,000
9,151,786,750 7,238,944,800
f) Total Capital Surplus (c-e) 1,415,683,873 2,528,794,452
182 Social Islami Bank Limited
Particulars2012 2011
Capital Maintained
Capital Maintained
5.00% 9.86% 5.00% 11.43% - 1.66% - 1.74%
Total 10.00% 11.52% 10.00% 13.17%
Particulars2012 2011
Capital Maintained
Capital Maintained
5.00% 9.88% 5.00% 11.33% - 1.67% - 1.74%
Total 10.00% 11.55% 10.00% 13.07%
14.6 Breakdown of gross Risk-Weighted Assets (RWA) in the various categories of risk-weightsSolo Basisa) Risk Weights for Credit Risk
Risk Weights (Both B/S & Off-B/S)
31.12.2012 31.12.2011Principal amount
Risk Weighted Assets
Principal amount
Risk Weighted Assets
0% 14,025,100,000 - 9,181,800,000 - 20% 16,510,400,000 3,302,080,000 15,339,800,000 3,067,960,000 50% 19,233,600,000 9,616,800,000 9,258,000,000 4,629,000,000 75% 23,522,900,000 17,642,175,000 17,593,600,000 13,195,200,000 100% 25,079,500,000 25,079,500,000 13,812,931,000 13,812,931,000 125% 23,396,450,000 29,245,562,500 22,474,000,000 28,092,500,000 150% 444,100,000 666,150,000 2,020,100,000 3,030,150,000 Total 122,212,050,000 85,552,267,500 89,680,231,000 65,827,741,000
b) Risk Weights for Operational Risk 460,335,000 4,603,350,000 414,945,000 4,149,450,000 c) Risk Weights for Market Risk 182,780,000 1,827,800,000 241,225,700 2,412,257,000
Total Risk Weighted Assets 91,983,417,500 72,389,448,000 Consolidate basis
a) Risk Weights for Credit Risk
Risk Weights (Both B/S & Off-B/S)
31.12.2012 31.12.2011Principal amount
Risk Weighted Assets
Principal amount
Risk Weighted Assets
0% 14,025,300,000 - 9,181,800,000 - 20% 16,510,400,000 3,302,080,000 15,338,100,000 3,067,620,000 50% 19,233,600,000 9,616,800,000 9,258,000,000 4,629,000,000 75% 23,522,900,000 17,642,175,000 17,593,600,000 13,195,200,000 100% 25,086,700,000 25,086,700,000 13,976,300,000 13,976,300,000 125% 23,018,250,000 28,772,812,500 22,474,000,000 28,092,500,000 150% 444,100,000 666,150,000 2,020,100,000 3,030,150,000 Total 121,841,250,000 85,086,717,500 89,841,900,000 65,990,770,000
b) Risk Weights for Operational Risk 460,335,000 4,603,350,000 414,945,000 4,149,450,000 c) Risk Weights for Market Risk 182,780,000 1,827,800,000 241,225,700 2,412,257,000
Total Risk Weighted Assets 91,517,867,500 72,552,477,000
183 Annual Report 2012
2012A) Credit Risk (amounts in crore Taka)
1. Balance Sheet Exposure Solo Consolidated
Sl. Exposure Type BB’s
Rating Grade
Risk Weight Exposure
Risk Weighted
Asset Exposure Risk Weighted
Asset
1 2 3 4 5 6 = (4×5) 7 8 = (4×7)
a) Cash and Cash 0% 110.45 - 110.47 -
b)
than PSEs) and
foreign currency)
0% 1,292.06 - 1,292.06 -
c) 0% - - - -
d) for International
International
European Central
0% - - - -
e) Multilateral
0% - -
1 20% - - - - 2,3 50% - - - - 4,5 100% - - - - 6 150% - - - -
50% - - - - f)
Sector Entities 1 20% - - -
2,3 50% - - - 4,5 100% - - - 6 150% - - -
50% - - - g)
1 20% 550.56 110.11 550.56 110.11 2,3 50% 123.39 61.70 123.39 61.70 4,5 100% - - - 6 150% - - -
100% 22.59 22.59 22.59 22.59
184 Social Islami Bank Limited
2012 (amounts in crore Taka)
Solo Consolidated
Sl. Exposure Type BB’s
Rating Grade
Risk Weight Exposure
Risk Weighted
Asset Exposure Risk Weighted
Asset
1 2 3 4 5 6 = (4×5) 7 8 = (4×7)
20% 837.74 167.55 837.74 167.55
h) Corporate
1 20% 192.49 38.50 192.49 38.50 2 50% 1,059.03 529.52 1,059.03 529.52
3,4 100% 1,291.62 1,291.62 1,291.62 1,291.62 5,6 150% - - - -
125% 1,059.03 1,323.79 1,059.03 1,323.79 i)
PSE
a) Corporate Corporate 125% 270.30 337.88 270.30 337.88 Retail and 125% 9.50 11.87 9.50 11.87
j)
75% 1,750.94 1,313.21 1,750.94 1,313.21
100% 76.75 76.75 76.75 76.75 l)
secured by residential property
50% 457.09 228.55 457.09 228.55
secured by
estate
100% 589.37 589.37 589.37 589.37
n)
provisions are less than 20 per cent of the outstanding 150% 44.41 66.62 44.41 66.62
provisions are no less than 20 per cent of the outstanding
100% 22.32 22.32 22.32 22.32
provisions are
per cent of the outstanding
50% 24.38 12.19 24.38 12.19
185 Annual Report 2012
2012 (amounts in crore Taka)
Solo Consolidated
Sl. Exposure Type BB’s
Rating Grade
Risk Weight Exposure
Risk Weighted
Asset Exposure Risk Weighted
Asset
1 2 3 4 5 6 = (4×5) 7 8 = (4×7)
secured against residential property that are past due
90 days and/or
provision held there-against is less than 20% of outstanding
100% 34.84 34.84 34.84 34.84
secured against residential property that are past due by 90 days and /
held there-against
of outstanding
75% 30.33 22.75 30.33 22.75
o) 125% - - 110.18 137.73
p)
regulatory capital
(other than those
capital) held in
125% 263.16 328.95 115.16 143.95
o) venture capital 150% - - - -
assets
100% 225.00 225.00 225.66 225.66
r)
operating lease 100% - - - -
s) All other assets
shdharon sanchay patra, etc.)
0% 239.11 - 239.42 -
186 Social Islami Bank Limited
2012 (amounts in crore Taka)
Solo Consolidated
Sl. Exposure Type BB’s
Rating Grade
Risk Weight Exposure
Risk Weighted
Asset Exposure Risk Weighted
Asset
1 2 3 4 5 6 = (4×5) 7 8 = (4×7) ii) Staff loan/ 20% 66.93 13.39 66.93 13.39
in process for collection
20% - - - -
100% 20.67 20.67 20.67 20.67
iv) Other assets
provisions) 100% 0.60 0.60 0.66 0.66
2. Off-Balance Sheet Exposure
Sl. Exposure TypeBB’s
Rating Grade
Risk Weight Exposure
Risk Weighted
Asset Exposure Risk Weighted
Asset
1 2 3 4 5 6 = (4×5) 7 8 = (4×7) a)
0%
b)0%
c)for International
International
European Central
0%
d)Multilateral
0%
1 20%
2,3 50%
4,5 100%
6 150%
50%
187 Annual Report 2012
2012 (amounts in crore Taka)
Solo Consolidated
Sl. Exposure TypeBB’s
Rating Grade
Risk Weight Exposure
Risk Weighted
Asset Exposure Risk Weighted
Asset
1 2 3 4 5 6 = (4×5) 7 8 = (4×7) e)
Sector Entities (other than 1 20%
2,3 50%
4,5 100%
6 150%
50%f)
i) Maturity over 3 1 20% - - - -
2,3 50% - - - -
4,5 100% - - - -
6 150% - - - -
100% - - - - ii) Maturity less 20% - - - -
g)Corporate 1 20% 3.32 0.66 3.32 0.66
2 50% 259.47 129.74 259.47 129.74
3,4 100% 224.19 224.19 224.19 224.19
5,6 150% - - - -
125% 737.66 922.08 737.66 922.08 h) Against retail
Enterprise 75% 571.02 428.27 571.02 428.27
i) 100% - - - - j)
secured by residential property
50% - - - -
secured by
estate
100% - - - -
l)venture capital 150% - - - -
All other assets 100% - - - - 3,807.66 1,704.93 1,795.66 1,704.93
188 Social Islami Bank Limited
2012 (amounts in crore Taka)
B) Capital charge for Market RiskSolo Consolidated
Sl no. Details
Capital Charge for
General Market
Risk
Total Capital
Charge for
Market Risk
Total Capital Charge for General &
Risk
Total Capital Charge for General &
Risk
A. - - - - 6.12 6.12 12.24 12.24
C. - 6.03 6.03 6.03 6.12 12.15 18.27 18.27
2012 (amounts in crore Taka)
C) Capital Charge for Operational Risk(Basic Indicator Approach)
Solo Consolidated
Year Average Gross Income
Capital Charge (15% of Average Gross Income)
Average Gross Income
Capital Charge (15% of Average Gross Income)
2011
306.89 46.03 306.89 46.0320102009
2012 2011Taka Taka
15 Statutory Reserve
Opening balance 1,168,484,261 788,228,216 549,578,194 380,256,045
1,718,062,455 1,168,484,261
16
1,712,811,470 1,721,136,000 574,633,356 578,938,643
Balance of revaluation reserve 1,138,178,114 1,142,197,357 28,198,993 3,700,532
Remaining balance of revaluation reserve 1,109,979,121 1,138,496,825
189 Annual Report 2012
a. The effective date of revaluation:
accounted for on 30.03.2011.
b. Valuer:
and ‘Royal Inspection have been assigned to carry on the valuation job.
c. Method used for determination of fair value:
of revaluation of the assets.
(amounts in Taka)
Class of property Book Value Revalued
AmountDepreciation
on book valueDepreciation on revalued amount
Amount of adjustment
392,185,810 1,328,800,000 9,804,645 33,220,000 23,415,355 2,111,623 12,330,000 - - - 1,155,183 2,445,427 28,880 61,136 32,256
31,488,144 60,026,690 787,204 1,500,667 713,463 26,198,991 79,105,053 654,975 1,977,626 1,322,651 38,996,436 76,102,478 974,911 1,902,562 927,651 18,372,691 32,848,942 459,317 821,224 361,907 64,124,478 121,152,880 1,603,112 3,028,822 1,425,710
574,633,356 1,712,811,470 14,313,044 42,512,037 28,198,993
17 Retained Earnings 2012 2011Taka Taka
Opening balance 711,300,013 422,730,575 (671,362,199) (418,294,200)
891,549,083 703,163,106 28,198,993 3,700,532
318,712 - 960,004,602 711,300,013
17(a) Consolidated retained earnings
657,427,567 419,815,418 (671,362,199) (418,294,200)
891,549,083 703,163,106 28,198,993 3,700,532
318,712 - 906,132,156 708,384,856
24,163,331 (50,932,093) (72,551) (25,238)
930,222,936 657,427,525
190 Social Islami Bank Limited
2012 2011Taka Taka
20 (41)
- -
930,222,915 657,427,567
and
0.00008130081% and 0.00024% of total shares respectively.
Sl no. Shareholders
No. Shares Value of shares Percentage of holding of shares
1 12,299,990 2,499,994 1,229,999,000 249,999,400 99.999919% 99.99976%
2 1 1 100 100 0.000008% 0.00004%
3 1 - 100 - 0.000008% -
4 Major (Retd.) 1 1 100 100 0.000008% 0.00004%
5 1 1 100 100 0.000008% 0.00004%
6 Mr. Abdul Awal Patwary 1 1 100 100 0.000008% 0.00004%
7 1 - 100 - 0.000008% -
8 1 - 100 - 0.000008% -
9 1 1 100 100 0.000008% 0.00004%
10 1 1 100 100 0.000008% 0.00004%
11 Mr. A. Jabbar Mollah 1 - 100 - 0.000008% -
12,300,000 2,500,000 1,230,000,000 250,000,000 100.00% 100.00%
17.1 Current year retained earnings
1,441,127,276 1,083,419,151 549,578,194 380,256,045 891,549,083 703,163,106
17.1.1 Consolidated Current year retained earnings
1,465,218,057 1,032,461,820 549,578,194 380,256,045 915,639,864 652,205,776
20 (41) - -
915,639,844 652,205,816
191 Annual Report 2012
2012 2011Taka Taka
17.2 Non-controlling interest
Paid up capital 1,230,000,000 1,230,000,000 Retained earnings (28,291,328) (52,454,659)General Reserve 742,432 Net Assets 1,202,451,104 1,177,545,341
Paid up capital 250,000,000 250,000,000 (1,490,388) (1,417,838)
Net Assets 248,509,612 248,582,163
Non-controlling interests
973 953
597 597
Total non-controlling interest 1,570 1,550
18 Contingent liabilities
18.1 Acceptances and Endorsements
5,189,558,700 1,197,754,700 1,834,947,997 1,775,573,525 4,011,699,800 2,479,740,121
352,278,000 302,174,000 1,246,269,500 2,649,876,656
12,634,753,997 8,405,119,002 18.2
1,847,561,500 1,483,942,500 1,173,500,400 733,070,100 1,301,287,200 1,022,070,800 2,575,739,886 3,102,378,521
315,118,000 148,163,000 182,387,907 294,627,955
7,395,594,893 6,784,252,876 18.3
4,949,826,296 3,277,969,675
18.4 Bills for collection
In-ward bills for collection 617,457,746 291,970,622 2,166,816,986 1,492,638,396 2,784,274,732 1,784,609,018
192 Social Islami Bank Limited
2012 2011Taka Taka
18.5 - -
18.6 Other Commitments - -
Total Off-balance sheet items 27,764,449,918 20,251,950,570
Income Statement (Note-19 to Note-38)
Income:
11,319,014,211 6,922,205,589
233,816,722 171,112,797
1,178,954,865 1,206,193,086
324,986,845 387,895,790 13,056,772,643 8,687,407,261
Expenses:
7,541,679,221 4,541,152,612 1,088,563,216 904,353,904
659,954,139 390,946,802 148,750,842 82,155,573
9,438,947,418 5,918,608,891 Income over expenditure 3,617,825,225 2,768,798,371
19 Income from Investment
524,583,818 417,725,952 5,630,407,600 2,890,727,533 1,798,329,456 1,374,049,763
43,330,992 29,208,047 1,271,101 440,569
640,934,900 479,948,995 440,016,815 355,953,364 822,852,244 352,481,781
27,026,714 2,661,164 1,060,471,625 949,092,662
326,224,028 69,915,760 3,564,917 -
11,319,014,211 6,922,205,589
19(a) Consolidated income from investment
11,319,014,211 6,922,205,589
Add: Income from investment of subsidiaries of SIBL 6,252,123 - 6,252,123 -
- -
Grand total of consolidated investment income 11,325,266,334 6,922,205,589
193 Annual Report 2012
2012 2011Taka Taka
20
Mudaraba Savings Deposits (MSD) 123,746,522 92,019,954 43,101,891 40,044,434
6,316,179,377 3,635,394,273 6,107,649 5,339,938
893,018,625 645,068,457 7,382,154,065 4,417,867,056
159,525,157 123,285,556
7,541,679,221 4,541,152,612
21 Income from Investment in Shares & Securities
111,022,091 38,688,811 2,590,786 11,509,398
70,000,000 70,000,000 50,203,845 50,914,588
233,816,722 171,112,797
22 Commission, Exchange & Brokerage
586,318,720 553,496,519 592,636,144 652,696,567
1,178,954,865 1,206,193,086
22(a) Consolidated income from commission, exchange & brokerage
1,178,954,865 1,206,193,086
Add: Income from commission, exchange & brokerage of subsidiaries of SIBL 15,524,695 - 15,524,695 -
- -
Grand total of consolidated income from commission, exchange & brokerage 1,194,479,560 1,206,193,086
23 Other Operating Income 725 4,643
25 200,327 17,863,307 13,973,111 2,186,475 5,382,260
194 Social Islami Bank Limited
2012 2011Taka Taka
102,023,536 117,269,909 30,600,340 18,345,555
40,471 - 13,000 28,200
172,258,966 232,691,785 324,986,845 387,895,790
23 (a) Consolidated other operating income
324,986,845 387,895,790
Add: Other operating Income of subsidiaries of SIBL 12,581,531 - 12,581,531 -
- -
Grand total of consolidated income from commission, exchange & brokerage 337,568,377 387,895,790
23.1 Other Charges
Rent receipts 5,654,830 2,874,383 328,200 299,600 206,033 122,957
3,046,832 1,042,250 163,023,072 228,352,594 172,258,966 232,691,785
24 Salary & Allowances
427,073,136 356,969,348 Allowances 389,771,095 346,255,964
211,762,002 145,140,113 8,582,757 9,269,011
37,245,541 32,080,267 4,128,685 3,479,201
1,078,563,216 893,193,904 24(a) Consolidated expenses for Salary and Allowance
1,078,563,216 893,193,904 Add: Salary and Allowance for subsidiaries 2,723,260 1,587,200
2,723,260 1,587,200- -
1,081,286,476 894,781,104
25 Rent, Taxes, Insurance & Electricity etc.
109,851,005 81,923,400 38,825,508 29,246,435 32,563,022 17,607,070
181,239,535 128,776,905
195 Annual Report 2012
2012 2011Taka Taka
25(a) Consolidated expenses for rent, taxes, insurance & electricity
181,239,535 128,776,905
Add: Rent, Taxes, Insurance & Electricity etc. of subsidiaries 520,743 - 520,743 -
- -
181,760,278 128,776,905 25.1
Rents
106,644,870 73,962,750 Rent (Garage) 216,580 381,633
2,151,605 6,987,011 109,013,054 81,331,394
Rates and Taxes 837,950 592,006 Total Rents, Rates & Taxes 109,851,005 81,923,400
25.2 Insurances
644,894 635,564 978,563 398,001
1,799,001 1,413,647 34,056,576 25,300,474
756,035 707,421 Other Insurance 590,439 791,328
38,825,508 29,246,435 25.3
28,384,831 14,027,724 2,463,327 1,990,940
- 3,330 Sub Total 30,848,158 16,021,994 Water & Sewerage 1,714,864 1,585,076
32,563,022 17,607,070 26
7,297,017 2,694,317 89,130 32,350
1,232,563 703,897 8,618,710 3,430,564
26(a) Consolidated legal expenses
8,618,710 3,430,564
- 17,685 - 17,685 - -
8,618,710 3,448,249
196 Social Islami Bank Limited
2012 2011Taka Taka
27 Postage, Stamps, Telecommunication etc.
Postage 10,716,250 8,244,130 Internet Charges 2,202,033 1,390,091
8,517,636 6,299,425 45,304 103,262
5,930 19,739 Telephone charges 4,129,430 3,522,556 Mobile phone charges 2,513,704 2,292,832
28,130,288 21,872,035
27(a) Consolidated expenses for Postage, Stamps, Telecommunication etc. 28,130,288 21,872,035
Add: Postage, Stamps, Telecommunication etc. expenses for subsidiaries 669,276 6,718 669,276 6,718
- - 28,799,564 21,878,753
28 Stationery, Printing, Advertisements etc.
Table Stationery 7,986,596 6,348,951 Printing Stationery 28,320,155 21,282,767
15,206,030 12,197,355 8,056,160 8,072,500 1,645,595 1,702,698
Other Publicity 19,379,434 5,063,377 80,593,969 54,667,648
28(a) Consolidated expense of Stationery, Printing, Advertisement etc.
80,593,969 54,667,648
182,407 19,430 182,407 19,430
- - 80,776,376 54,687,078
29 Managing Director’s Salary and Allowances
4,000,000 4,800,000 Allowances 4,200,000 4,560,000
1,800,000 1,800,000 10,000,000 11,160,000
30 Directors’ Fees & Meeting Expenses 1,598,500 2,798,000 2,197,374 2,682,373 3,795,874 5,480,373
197 Annual Report 2012
2012 2011Taka Taka
30(a) Consolidated Directors’ fees & Meeting Expenses:
3,795,874 5,480,373 299,000 632,500 299,000 632,500
- - 4,094,874 6,112,873
31 Shariah Supervisory Committee’s Fees & Expenses
117,801 130,000 - 23,976
Others - - 117,801 153,976
32 Depreciation and Repair of Bank’s Assets
a) Depreciation of Bank’s Assets (Annexure A) - -
42,512,037 8,324,530 21,218,435 15,925,423 63,097,530 43,244,067
Vehicles 8,442,625 7,245,617 45,104 49,168
135,315,730 74,788,805 b) Repair on Bank’s Assets 13,435,111 7,366,768
13,435,111 7,366,768
Total of Depreciation and repair of Bank’s Assets 148,750,842 82,155,573
32(a) Consolidated balance of Depreciation and Repair charge
148,750,842 82,155,573 Add: Depreciation on assets of subsidiaries 773,057 28,897
773,057 28,897 - -
149,523,899 82,184,470 33 Other Expenses
9,757,400 7,804,279 15,423,236 15,432,419 19,946,177 8,097,067 12,301,526 13,535,374
Traveling allowances 9,179,924 7,283,250 3,579,920 2,420,871
109,994 119,424 522,387 651,565
Subscriptions to Institutions 5,602,500 3,274,200 46,862 39,614
618,210 780,070
198 Social Islami Bank Limited
2012 2011Taka Taka
Transportation charges 1,734,537 1,082,992 219,269 224,482 184,132 133,461
2,405,007 1,096,826 515,251 276,402
8,976,545 1,081,335 1,016,357 813,475 4,440,824 4,159,694
996,710 1,169,240 6,977,447 6,496,752
Security Services 55,277,015 35,135,292 Cleaner Services 2,487,247 918,592 Others wages 21,257,049 17,406,788
1,194,948 922,893 50,104 26,383
1,718,142 1,757,768 303,533 339,500
14,808,375 14,443,970 ATM Rent Hardware 32,156 600,000
- 681,585 602,360 503,500 261,235 358,817
8,870,128 8,076,634 126,173,365 -
18,985,232 18,908,662 356,575,106 176,053,176
33(a) Consolidated Other Expenses
356,575,106 176,053,176 Add:Other Expenses for SIBL Securities Limited 4,099,252 48,568,763
2,246,740 1,905,960 110,181 20,483 42,906 22,938
Others 1,699,425 46,619,382 Other Expenses for SIBL Investment Limited 58,750 11,438
42,848 - 10,920 11,438
Others 4,982 - 360,733,108 224,633,377
34 Provision for Zakat Fund
30,146,894 25,600,000 30,146,894 25,600,000
199 Annual Report 2012
2012 2011Taka Taka
35 Provision against Investment, Off-Balance Sheet items & Others
285,356,045 365,898,418 173,483,062 163,954,940 104,482,499 47,821,392
Provision for other assets 222,654,542 162,630,000
shares and securities - 57,706,167
30,146,894 25,600,000 Provision for Gratuity 53,811,215 43,907,230
869,934,257 867,518,146
suspense account provided during the year.
35(a) Consolidated Provision against Investment, Off-Balance Sheet items & Others
869,934,257 867,518,146 Add:Provision for subsidiaries 742,432 -
742,432 - - -
870,676,689 867,518,146 36 Provision for Income Tax
1,301,591,387 816,364,597 5,172,304 1,496,476
1,306,763,692 817,861,07336(a) Consolidated Provision for Income Tax
1,306,763,692 817,861,073 171,791 -
- - 1,306,935,483 817,861,073
36.1 Current Year Tax Provision
Act, considering the allowances and disallowances.
36.2 Deferred Tax Expenses/(Income)
37 Earning Per Share (EPS)
200 Social Islami Bank Limited
2012 2011Taka Taka
1,441,127,276 1,083,419,151 639,392,570 600,047,006
Earning Per Share (EPS) 2.25 1.81
37(a) Consolidated Earning Per Share (EPS)
1,465,218,057 1,032,461,861 639,392,570 600,047,006
Consolidated Earning Per Share (EPS) 2.29 1.72
Notes for Cash Flow Statement (Note-39 to Note-44)
38 Income from Investment
11,319,014,211 6,922,205,589 - - - -
11,319,014,211 6,922,205,589
38(a) Consolidated income from investment
11,319,014,211 6,922,205,589 6,252,123 - 6,252,123 -
- -
Grand total 11,325,266,334 6,922,205,589
39
592,636,144 652,696,567 Rent receipts 5,654,830 2,874,383
725 4,643 25 200,327
17,863,307 13,973,111 2,186,475 5,382,260 3,046,832 1,042,250
163,023,072 219,403,976 102,023,536 117,269,909
30,600,340 18,345,555 40,471 -
206,033 122,957 13,000 28,200
328,200 299,600 917,622,990 1,031,643,737
201 Annual Report 2012
2012 2011Taka Taka
39(a)
917,622,990 1,031,643,737 12,581,531 - 12,581,531
- 930,204,521 1,031,643,737
40 Payment to others
106,644,870 73,962,750 Rent (Garage) 216,580 381,633 Rent (Godown) 2,151,605 6,987,011
837,950 592,006 644,894 635,564 978,563 398,001
1,799,001 1,413,647 34,056,576 25,300,474
756,035 707,421 Other Insurance 590,439 791,328
28,384,831 14,027,724 2,463,327 1,990,940
- 3,330 1,714,864 1,585,076 8,618,710 3,430,564 3,795,874 5,480,373
117,801 153,976 882,855 512,125
Repairs and Maintenance 13,435,111 7,366,768 356,575,106 176,053,176 564,664,993 321,773,887
40(a) Consolidated payment to others
564,664,993 321,773,887
Payment to others- Subsidiaries 5,005,345 49,315,086 4,932,795 49,268,948
72,550 46,138
569,670,338 371,088,973
41 Cash Increase/ Decrease in Other Assets
15,992,283 12,273,865 145,434,127 99,398,820
Security Deposit 3,948,732 3,974,914 2,522,022,946 3,010,096,228
202 Social Islami Bank Limited
2012 2011Taka Taka
376,127,658 290,156,467 33,569 5,634,266
411,571 302,875 955,088 43,243
2,391,120,492 1,464,297,052 1,875,347 1,377,245 1,401,205 1,340,205
374,545,000 325,260,000.00 3,564,917 -
1,205,337,688 845,909,906 7,042,770,623 6,060,065,086
Difference between (31.12.2012, 2011) (982,705,537) (3,140,073,646) 926,823,440 621,735,692
Net change in Other Assets (55,882,097) (2,518,337,954)
41(a) Consolidated cash increase/decrease in other assets
7,042,770,623 6,060,065,086 1,123,040,482 1,035,132,550 8,165,811,105 7,095,197,636
Difference between (31.12.2012, 2011) (1,070,613,469) (4,177,933,646) 929,894,508 621,735,692
Consolidated net change in Other Assets (140,718,961) (3,556,197,954)
42
11,623,498 5,974,078 Other Payable 1,291,813 2,655,875
383,644,225 278,062,361 37,695,442 26,116,102
304,827,189 283,964,994 71,081,185 248,100,000
167,132,732 111,408,106 3,184,624 3,101,407
- 20,403 3,820,731 3,716,548 6,595,602 -
990,897,040 963,119,874
27,777,166 337,314,424 27,777,166 337,314,424
248,100,000 35,000,000 19,654,080 15,601,465 45,672,080 30,124,950
414,000 - 138,567,510 409,544,053
71,569,496 (82,956,044)
203 Annual Report 2012
2012 2011Taka Taka
42(a) Consolidated cash increse/decrease in other liabilities
990,897,040 963,119,874 9,467,522 158,595
1,000,364,562 963,278,469
Difference between (31.12.2012, 2011) 37,086,093 337,408,569 43,792,330 (420,270,468) 80,878,423 (82,861,899)
43
Cash in Hand 1,104,528,222 1,065,642,134 10,020,554,834 4,601,857,225 11,729,376,330 10,774,826,161
849,779,375 618,982,002 23,704,238,761 17,061,307,522
43(a)
23,704,238,761 17,061,307,522
13,472,482 3,233 13,459,312 3,233
13,170 -
23,717,711,242 17,061,310,755 44 Number of Employees
p.a or above were 1625.
45 Audit Committee
Sl. No. Name Status with the Bank Status with the Committee
1 Director2 Abdul Awal Patwary Director3 Director4 Director5 Mr. A Jabbar Mollah Independent Director
204 Social Islami Bank Limited
46 Related Party Disclosures
46.1
No Name Name of Firms/Business Organizations Where the
1 Md. Anisul Hoque Director, Finance & AccountsChairmanRepresentative of: Hamdard Laboratories(WAQF) Bangladesh. 291/1, Sonargaon Road, Dhaka
2 Alhaj Sk. Mohammad Rabban Ali Managing DirectorVice Chairman
Proprietor
3 Mr. Md. Sayedur Rahman Managing DirectorVice Chairman
4 Major (Retd.)Dr. Md. Rezaul Haque ChairmanDirector
Sponsor Director
5 Alhaj Sultan Mahmood Chowdhury ProprietorDirector
Managing DirectorProgati Metal Industry
6 Abdul Awal Patwary ChairmanDirector
Managing Director
Proprietor
205 Annual Report 2012
No Name Name of Firms/Business Organizations Where the
7 Alhaj Nasiruddin Managing DirectorDirector
Proprietor
8 Mohammad Azam ProprietorDirector
9 Mr. Mohammad Fazlay Morshed Managing DirectorDirector(Representative of Namreen Enterprise)
10 Mr. Abdul Jabbar Mollah Managing DirectorIndependent Director
46.2
46.3
A Related Party Transaction
Name of Party Name of the Director
Relationship Nature of Investment
Outstanding Amount (Taka)
Status
Mr. AbdulAwal patwary HPSM 20.50 lac
Mr. AbdulAwal patwary 11.87 lac -
Investment Policies to Related Parties
CNil
D Nil
E Nil
206 Social Islami Bank Limited
47 Post Balance Sheet events (BAS-10)
48 General
and securities.
207 Annual Report 2012
Ann
exur
e A
FOR
TH
E YE
AR
EN
DED
31
DEC
EMB
ER 2
012
Part
icul
ars
Rat
e of
D
epre
ciat
ion
D E
P R
E C
I A
T I
O N
Writ
ten
Dow
n Va
lue
at 3
1 D
ecem
ber
2012
Bal
ance
as
on
01
Janu
ary
2012
Add
ition
s du
ring
the
year
Dis
posa
l/
Tran
sfer
du
ring
the
year
Bal
ance
at
31
Dec
embe
r 20
12
Bal
ance
as
on
01
Janu
ary
2012
Tran
sfer
/ A
djus
tmen
t du
ring
the
year
Cha
rged
du
ring
the
year
Bal
ance
at
31
Dec
embe
r 20
12
1
2,33
0,00
0 -
- 1
2,33
0,00
0 -
- -
- 1
2,33
0,00
0
1,7
19,0
61,1
03
- -
1,7
19,0
61,1
03
2.50
% 1
8,57
9,63
3 -
42,
512,
037
61,
091,
670
1,6
57,9
69,4
33
244
,885
,191
9
9,16
5,53
1 8
41,4
85
343
,209
,238
10
% 8
0,52
2,20
8 -
21,
218,
435
101
,740
,643
2
41,4
68,5
95
376
,747
,139
151
,783
,950
-
528
,531
,089
20
% 1
47,9
95,3
80
- 6
3,09
7,53
0 2
11,0
92,9
10
317
,438
,179
Vehi
cles
52,
681,
278
237
,099
-
52,
918,
377
20%
24,
160,
694
- 8
,442
,625
3
2,60
3,31
9 2
0,31
5,05
8
991
,043
5
2,81
0 -
1,0
43,8
53
10%
565
,277
-
45,
104
610
,381
4
33,4
72
31
Dec
embe
r 201
2 2
,406
,695
,754
251
,239
,389
8
41,4
85 2
,657
,093
,659
2
71,8
23,1
92
- 13
5,31
5,73
0 4
07,1
38,9
22
2,24
9,95
4,73
7
31
Dec
embe
r 201
1 1
,123
,832
,238
153
,704
,159
13,
038,
000
2,4
06,6
95,7
54
209
,096
,206
1
2,06
1,81
9 7
4,78
8,80
5 2
71,8
23,1
92
2,13
4,87
2,56
2
208 Social Islami Bank Limited
FOR
TH
E YE
AR
EN
DED
31
DEC
EMB
ER 2
012
Part
icul
ars
Rat
e of
D
epre
ciat
ion
D E
P R
E C
I A
T I
O N
Writ
ten
Dow
n Va
lue
at 3
1 D
ecem
ber
2012
Bal
ance
as
on
01 J
anua
ry
2012
Add
ition
s du
ring
the
year
Dis
posa
l/
Tran
sfer
du
ring
the
year
Bal
ance
at
31
Dec
embe
r 20
12
Bal
ance
as
on
01
Janu
ary
2012
Tran
sfer
/ A
djus
tmen
t du
ring
the
year
Cha
rged
du
ring
the
year
Bal
ance
at
31
Dec
embe
r 20
12
1
2,33
0,00
0 -
- 1
2,33
0,00
0 -
- -
- 1
2,33
0,00
0
1,7
19,0
61,1
03
- -
1,7
19,0
61,1
03
2.50
% 1
8,57
9,63
3 -
42,
512,
037
61,
091,
670
1,6
57,9
69,4
33
244
,945
,084
9
9,36
0,00
3 8
41,4
85
343
,463
,603
10
% 8
0,52
2,43
0 -
21,
243,
872
101
,766
,301
2
41,6
97,3
01
377
,047
,124
158
,674
,757
-
535
,721
,881
20
% 1
48,0
24,0
55
- 6
3,84
5,15
0 2
11,8
69,2
05
323
,852
,676
Vehi
cles
52,
681,
278
237
,099
-
52,
918,
377
20%
24,
160,
694
- 8
,442
,625
3
2,60
3,31
9 2
0,31
5,05
8
991
,043
5
2,81
0 -
1,0
43,8
53
10%
565
,277
-
45,
104
610
,381
4
33,4
72
31
Dec
embe
r 201
2 2
,407
,055
,632
258
,324
,668
8
41,4
85 2
,664
,538
,816
2
71,8
52,0
89
- 1
36,0
88,7
87
407
,940
,876
2,
256,
597,
940
31
Dec
embe
r 201
1 1
,123
,832
,238
154
,064
,037
13
,038
,000
2,4
07,0
55,6
32
209
,096
,206
1
2,06
1,81
9 7
4,81
7,70
2 2
71,8
52,0
89
2,13
5,20
3,54
3
209 Annual Report 2012
Ann
exur
e-C
No.
Nam
e of
the
Ban
ksC
urre
ncy
N
ame
2012
2011
Am
ount
in
Fore
ign
C
urre
ncy
Con
vers
ion
ra
te p
er u
nit
F.C
.
Am
ount
in
BD
T.
Am
ount
in
Fore
ign
C
urre
ncy
Con
vers
ion
ra
te p
er u
nit
F.C
.
Am
ount
in
BD
T.
1 2
,743
.92
106
.17
291
,329
1
,183
.92
105
.93
125
,413
2 2
1,45
7.28
8
0.30
1
,723
,020
1
5,00
4.38
8
1.90
1
,228
,859
3 5
,043
,759
.13
80.
30
405
,013
,818
1
,041
,203
.99
81.
90
85,
274,
607
4 3
07.1
4 8
0.30
2
4,66
3
5 5
,002
.07
80.
30
401
,666
8
,576
.62
81.
90
702
,425
6 6
8,85
9.91
1
06.1
7 7
,311
,040
2
4,87
7.04
1
05.9
3 2
,635
,211
7 1
16,2
80.7
4 1
29.8
5 1
5,09
9,41
8 1
03,7
50.7
5 1
26.6
0 1
3,13
4,95
0
8 2
,527
.55
129
.85
328
,210
-
- -
9 6
24,2
72.0
0 0
.96
599
,424
9
,414
,321
.00
1.0
5 9
,909
,176
10 4
,905
,640
.86
80.
30
393
,923
,013
3
,604
,389
.18
81.
90
295
,199
,474
11 3
6,95
3.87
8
0.30
2
,967
,396
-
- -
12 3
2,03
6.25
8
0.30
2
,572
,511
2
1,38
0.25
8
1.90
1
,751
,042
13 2
3,68
3.79
8
0.30
1
,901
,808
1
6,55
5.45
8
1.90
1
,355
,891
14 7
0,29
4.82
8
0.30
5
,644
,674
5
,935
.74
81.
90
486
,137
15 1
9,51
2.98
8
0.30
1
,566
,892
2
,218
.98
81.
90
181
,734
16 5
6,97
9.26
8
0.30
4
,575
,435
8
,632
.34
81.
90
706
,989
17 1
3,51
8.72
8
0.30
1
,085
,553
2
7,60
7.18
8
1.90
2
,261
,028
18 2
5,05
4.05
8
0.30
2
,011
,840
3
1,90
4.05
8
1.90
2
,612
,942
19 2
5,78
5.02
1
06.1
7 2
,737
,664
2
1,50
0.77
1
05.9
3 2
,277
,565
20 -
- -
771
,329
.55
81.
90
6317
1890
.145
21 -
- -
15,
428.
65
81.
90
1,2
63,6
06
22 -
- -
1,5
67,4
87.6
2 8
1.90
1
28,3
77,2
36
23 7
7,23
8.42
8
1.90
63
2582
6.64
8
Tota
l 8
49,7
79,3
75
618
,982
,002
210 Social Islami Bank Limited
Ann
exur
e-D
(Fun
ded
& N
on-fu
nded
)D
etai
ls in
form
atio
n of
Inve
stm
ent m
ore
than
10%
of B
ank’
s to
tal c
apita
l
(am
ount
s in
cro
re T
aka)
Sl n
o.N
ame
of c
lient
O
utst
andi
ng a
s on
31
Dec
embe
r 201
2 O
utst
andi
ng a
s on
31
Dec
embe
r 201
1
Fun
ded
Non
-fund
ed
Tot
al
Fund
edN
on-fu
nded
Tota
l
1M
/s. A
gran
i Tra
ders
, Ovi
Tra
ders
and
A M
Tra
ding
108
.84
- 1
08.8
4 1
34.1
1 4
5.69
1
79.8
0
2 1
45.0
8 7
0.42
2
15.5
0 1
30.1
5 2
6.69
1
56.8
4
3 8
0.28
1
18.1
4 1
98.4
2 6
6.79
7
2.63
1
39.4
2
4 5
8.97
9
2.79
1
51.7
6 7
7.87
3
8.02
1
15.8
9
5 1
18.6
7 7
.47
126
.14
- -
-
6 8
8.62
2
4.31
1
12.9
3 -
- -
7 1
03.4
1 6
.13
109
.54
- -
-
8 -
- -
49.
27
48.
35
97.
62
Gra
nd T
otal
703
.87
319
.26
1,0
23.1
3 4
58.1
9 2
31.3
8 6
89.5
7
211 Annual Report 2012
His
tory
of P
aid-
Up
Cap
ital
Year
sD
ecla
ratio
nN
o. o
f Sha
reFa
ce V
alue
per
Sh
are
(Tak
a)C
umul
ativ
e no
. of
Sha
res
Valu
e of
issu
ed
Cap
ital f
or th
e ye
ar (T
aka)
Cum
ulat
ive
valu
e of
C
apita
l (Ta
ka)
1995
Initi
al C
apita
l 1
18,3
80
1,0
00
118
,380
1
18,3
80,0
00
118
,380
,000
1996
- -
118
,380
-
118
,380
,000
1997
7,6
20
1,0
00
126
,000
7
,620
,000
1
26,0
00,0
00
1998
- -
126
,000
-
126
,000
,000
1999
Cap
ital r
aise
d 7
4,00
0 1
,000
2
00,0
00
74,
000,
000
200
,000
,000
2000
50,
000
1,0
00
250
,000
5
0,00
0,00
0 2
50,0
00,0
00
Initi
al P
ublic
Offe
r 1
0,00
0 1
,000
2
60,0
00
10,
000,
000
260
,000
,000
2001
- -
260
,000
-
260
,000
,000
2002
- -
260
,000
-
260
,000
,000
2003
- -
260
,000
-
260
,000
,000
2004
325
,000
1
,000
5
85,0
00
325
,000
,000
5
85,0
00,0
00
2005
- -
585
,000
-
585
,000
,000
2006
- -
585
,000
-
585
,000
,000
2007
5,3
45,5
50
100
1
1,19
5,55
0 5
34,5
55,0
00
1,1
19,5
55,0
00
2008
1,9
03,2
43
100
1
3,09
8,79
3 1
90,3
24,3
00
1,3
09,8
79,3
00
2009
1,3
09,8
79
100
1
4,40
8,67
2 1
30,9
87,9
00
1,4
40,8
67,2
00
12,
508,
587
100
2
6,91
7,25
9 1
,250
,858
,700
2
,691
,725
,900
2010
2,9
60,8
99
100
2
9,87
8,15
8 2
96,0
89,8
50
2,9
87,8
15,7
50
2011
41,
829,
420
10
340
,610
,995
4
18,2
94,2
00
3,4
06,1
09,9
50
298
,781
,575
1
0 6
39,3
92,5
70
2,9
87,8
15,7
50
6,3
93,9
25,7
00
212 Social Islami Bank Limited
Particulatars 2012 2011
1 Paid up Capital 6,393,925,700 6,393,925,700
2 10,596,509,878 9,534,520,386
3 1,398,168,128 2,295,575,586
4 11.52% 13.17%
5 Total Assets 115,165,953,013 85,626,315,629
6 Total Deposit 93,594,292,471 66,852,551,081
7 76,024,973,908 53,908,575,772
8 27,764,449,918 20,251,950,570
9 89.43% 94.65%
10 3.33% 3.93%
11 3,617,825,225 2,768,798,371
12 1,441,127,276 1,083,419,151
13 2,532,858,494 2,116,130,803
14 970,134,819 691,947,212
15 Provisions surplus - -
16 Cost of Deposits 9.12% 7.38%
17 94,748,144,597 70,543,742,091
18 20,417,808,416 15,082,573,538
19 3.81% 3.26%
20 Return on Assets (ROA) 2.75% 2.70%
21 14.15% 11.51%
22 233,816,722 171,112,797
23 Earning Per Share 2.25 1.81
24 2.25 1.81
25 8.61 14.51
213 Annual Report 2012
Stat
emen
t of C
orpo
rate
Inco
me
Tax
stat
us
as a
t 31
Dec
embe
r 201
2
Acc
ount
ing
Year
asse
ssm
ent
Year
Tax
Prov
isio
n as
per
ac
coun
ts
Adv
ance
Tax
/TD
S /S
ettle
men
t fe
e pa
id
Tax
Paid
at t
he
time
of a
ppea
lTo
tal T
ax p
aid
Tax
as p
er
asse
ssm
ent
Ord
erPr
esen
t Sta
tus
2004
2005
-200
6 6
8,61
0,85
1 6
8,61
0,85
1 1
2,00
0,00
0 8
0,61
0,85
1 1
39,5
84,4
98
Pen
ding
at H
igh
Cou
rt D
ivis
ion
of
2005
2006
-200
7 2
4,39
1,12
6 4
2,28
4,32
1 -
42,
284,
321
42,
284,
321
2006
2007
-200
8 5
9,82
5,17
8 5
9,82
5,17
8 -
59,
825,
178
81,
103,
288
2007
2008
-200
9 1
28,0
00,0
00
134
,928
,481
-
134
,928
,481
1
69,1
50,4
59
Pen
ding
at H
igh
Cou
rt D
ivis
ion
of
2008
2009
-201
0 1
50,3
00,0
00
141
,715
,338
-
141
,715
,338
1
94,1
13,9
93
2009
2010
-201
1 2
78,9
14,9
68
278
,914
,968
-
278
,914
,968
3
07,7
32,1
02
2010
2011
-201
2 5
15,1
49,0
14
515
,149
,014
-
515
,149
,014
5
23,1
09,4
85
2011
2012
-201
3 8
16,3
64,5
97
816
,364
,597
-
816
,364
,597
-
2012
2013
-201
4 1
,301
,591
,387
9
26,8
23,4
40
- 9
26,8
23,4
40
- Ju
ly 2
013.
3,3
43,1
47,1
22
2,9
84,6
16,1
88
12,
000,
000
2,9
96,6
16,1
88
1,4
57,0
78,1
46
214 Social Islami Bank Limited
OFF-SHORE BANKING UNIT (OBU)
2012 2011USD Taka USD Taka
PROPERTY AND ASSETS
Cash - - - - - - - -
- - - - Balance with other Banks and Financial Institutions
- - - - 307 24,663 - - 307 24,663 - -
Placement with Banks & other Financial Institutions - - - - Investments in Shares & Securities - - - -
- - - - Others - - - -
- - - - Investments
2,529,937 203,153,922 - - - - - -
2,529,937 203,153,922 - - Fixed Assets including Premises, Furnitures and Fixtures 1,681 117,433 - - Other Assets 44,395 3,564,917 - - Non Banking Assets
Total Assets 2,576,320 206,860,935 - -
Borrowing from Banks & other Financial Institutions 2,529,664 203,132,011 - - Deposits and Other Accounts 76 6,103 - -
Mudaraba Savings Deposits - - - - - - - -
Other Mudaraba Deposits - - - - 76 6,103 - -
- - - -
46,580 3,722,821 - - - - - -
2,576,320 206,860,935 - -
Paid-up Capital - - - - Statutory Reserve - - - -
- - - - Retained Earnings - - - -
- - - - 2,576,320 206,860,935 - -
215 Annual Report 2012
2012 2011
USD Taka USD Taka
- - - - - - - - - - - - - - - - - - - -
Total - - - -
OTHER COMMITMENTS
transactions - - - -
- - - -
facilities - - - -
- - - - Total - - - -
Total Off Balance Sheet Items including - - - -
216 Social Islami Bank Limited
OFF-SHORE BANKING UNIT (OBU)
FOR THE YEAR ENDED 31 DECEMBER 2012
2012 2011
USD Taka USD Taka
44,395 3,564,917 - - - - - -
Net Investment Income 44,395 3,564,917 - -
- - - - 504 40,471 - -
Total Operating Income 44,899 3,605,388 - -
5,230 419,980 - - 305 24,467 - - 219 17,567 - -
Total Operating Expenses 5,754 462,014 - -
- - - - - - - - - - - -
Total Provision - - - -
39,145 3,143,375 - -
Provision for Income Tax - - - -
39,145 3,143,375 - -
217 Annual Report 2012
OFF-SHORE BANKING UNIT (OBU)
FOR THE YEAR ENDED 31 DECEMBER 2012
2012 2011USD Taka USD Taka
Cash Flow from operating activities 44,395 3,564,917 - -
- - - - Dividend receipts - - - -
504 40,471 - - (5,230) (419,980) - -
- - - - - - - - - - - -
(305) (24,467) - - 39,364 3,160,942 - -
Changes in operating assets and liabilities Statutory deposits - - - -
- - - - - - - -
(2,529,937) (203,153,922) - - Other assets (44,395) (3,564,917) - -
2,529,664 203,132,011 - - 76 6,103 - -
- - - - Trading liabilities - - - - Other liabilities 7,435 579,447 - - Sub Total (37,157) (3,001,278) - -
2,207 159,663 - -
- - - - - - - -
(1,900) (135,000) - - - - - -
Purchase/Sale of subsidiaries - - - - (1,900) (135,000) - -
- - - - - - - - - - - -
Dividend paid in cash - - - - - - - -
307 24,663 - -
- - - - 307 24,663 - -
218 Social Islami Bank Limited
Off-shore Banking Unit (OBU)Notes to the Financial Statements
For the year ended 31 December 20121 Status of the unit
1.1 Principal activities
2
2.1 Basis of accounting
2.2 Use of estimates and judgments
future periods affected.
2.3 Foreign currency transaction
a) Foreign currencies translation
b) Commitments
c) Translation gains and losses
219 Annual Report 2012
2.4 Reporting period
2.5 General Investments
Provision for liabili es
2.6A provision is recognised in the balance sheet when the unit has a legal or constructive obligation as a result of
2.7
Fees and commission income
effecting the transactions.
2.8
2.9 Allocation of common expenses
2.10 General
220 Social Islami Bank Limited
SIBL BRANCHS NETWORK
:
:
:
:
:
:
:
:
DHAKA DIVISION
221 Annual Report 2012
SIBL BRANCHS NETWORK
:
222 Social Islami Bank Limited
SIBL BRANCHS NETWORK
CHITTAGONG DIVISION
223 Annual Report 2012
SIBL BRANCHS NETWORK
BARISAL DIVISION
KHULNA DIVISION
224 Social Islami Bank Limited
RAJSHAHI DIVISION
RANGPUR DIVISION
SIBL BRANCHS NETWORK
SYLHET DIVISION
225 Annual Report 2012
226 Social Islami Bank Limited
228 Social Islami Bank Limited