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ALARABANK

All Eps Dividend Board Agm Q1 Q2 Q3

ALARABANK 08-Jul-2020

(Continuation news of ALARABANK): profit or loss account over the lease term replacing the previous heading 'lease rent expenses. While implementing IFRS 16, the Bank observed that IFRS 16 is expected to have impact on various regulatory capital and liquidity ratios as well as other statutory requirements issued by various regulators. In addition, there are no direction from National Board of Revenue (NBR) (cont.5)

ALARABANK 08-Jul-2020

(Continuation news of ALARABANK): recognizing a right-of-use (ROU) asset (i.e. the right to use the office building, branches, service center, call center, warehouse, etc.) and a corresponding lease liability. The asset and the liability are initially measured at the present value of unavoidable lease payments. The depreciation of the lease asset (ROU) and the interest on the lease liability is recognized in the (cont.4)

ALARABANK 08-Jul-2020

(Continuation news of ALARABANK): with such a rental agreement being classified as operating lease would have been considered as an off-balance sheet item. However, IFRS 16 does not require a lease classification test and hence all leases shall be accounted for as on balance sheet item (except some limited exception i.e. short-term lease, leases for low value items). Under IFRS 16, an entity shall be (cont.3)

ALARABANK 08-Jul-2020

(Continuation news of ALARABANK): IFRS 16 defines that a contract is (or contains) a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. IFRS 16 significantly changes how a lessee accounts for operating leases. Under previous IAS 17, an entity would rent an office building or a branch premises for several years (cont.2)

ALARABANK 08-Jul-2020

Emphasis of Matter: We draw attention to note 2.8.4 of the financial statements, which describes matters related to implementation of 'FRS 16 Leases' including preliminary assessment of its impact as assessed by management. Our opinion is not modified in respect of this matter. Note 2.8.4 IFRS 16: Leases: IFRS 16 Leases is effective for the annual reporting periods beginning on or after 1 January 2019. (cont.1)

ALARABANK 29-Jun-2020

(Q1 Un-audited): Consolidated EPS was Tk. 0.51 for January-March 2020 as against Tk. 0.44 for January-March 2019; Consolidated NOCFPS was Tk. 0.79 for January-March 2020 as against Tk. 3.54 for January-March 2019. Consolidated NAV per share was Tk. 21.63 as on March 31, 2020 and Tk. 21.13 as on March 31, 2019.

ALARABANK 29-Jun-2020

There will be no price limit on the trading of the shares of the Company today (29.06.2020) following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/04 dated March 19, 2020, the floor price shall be applicable accordingly.

ALARABANK 29-Jun-2020

(Continuation news of ALARABANK): as against Tk. 2.30, Tk. 20.39 and Tk. (12.98) respectively for the same period of the previous year. It is to be noted that NOCFPS significantly increased mainly due to increase deposit from customers compared to previous year. (end)

ALARABANK 29-Jun-2020

The Board of Directors has recommended 13% cash dividend for the year ended on December 31, 2019. Date of AGM: 03.09.2020, Time: 11:30 AM. Venue: Digital Platform as per BSEC order. Record Date: 30.07.2020. The Company has also reported Consolidated EPS of Tk. 2.28, Consolidated NAV per share of Tk. 21.13 and Consolidated NOCFPS of Tk. 11.58 for the year ended on December 31, 2019 (cont.)

ALARABANK 21-Jun-2020

As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on June 25, 2020 at 3:00 PM instead of 1:30 PM for unavoidable circumstances to consider, among others, audited financial statements of the Company for the year ended on December 31, 2019.

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