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BIFC

All Eps Dividend Board Agm Q1 Q2 Q3

BIFC 01-Jan-2017

(Continuation news of BIFC): The indiscriminate withdrawal of fund was done as CASHCOW for willful defaulters of the loanee. Ignoring ethical standards as a financial Institution adding non performing loans added to its credit portfolio which has landed the institutions a huge outstanding debt including Taka 7,234,278,391 as at 31.12.2015 lying in the hands of few selected parties possibilities of recovery is remote. Name wise detailed list has been shown in the management report. (cont.5)

BIFC 01-Jan-2017

(Continuation news of BIFC): The owning parties also availed of Loan facilities in the name of Banglalion, Dresco Limited, Sunman Spinning , Sunman Pharma, Sunman Industrial Corporation, Towers Builders Chowdhary Apparel, Rahmania Textiles and withdrew the entire loaned amount without complying the existing approval authority of loan and loan sanctioning rules and policy. In the process of withdrawal of the fund, different name and account was engaged. (cont.4)

BIFC 01-Jan-2017

(Continuation news of BIFC): They disbursed the loan amount violating the rules and regulation of Bangladesh Bank. It appears from the available record and documents that the parties as mentioned in the list are related to the Ex- Chairman and Directors and their related parties having some unknown accounts holders whose whereabouts could not be evaluated properly. (cont.3)

BIFC 01-Jan-2017

(Continuation news of BIFC): The management has not made necessary provision in the accompanying financial statements as per BRPD Circular # 14 Dated 23 September 2012 under Financial Institution Act 1993 resulting an overstatement of net profit/ (loss) and that would adversely affected the EPS & NAV. 2. Loan & Advance: 2.10. As on 31 December 2015, an amount of Tk. 4,152,025,794 was sanctioned defying the rules and regulation of loan granting policy of the Company and Bangladesh Bank guidelines. (cont.2)

BIFC 01-Jan-2017

The auditor of the company has given the following basis for qualified opinion in the audit report of the company for the year ended 31 December 2015: Basis for Qualified Opinion: 1. Short Provision: Loan & Advance Provision as per BRPD Circular # 14, Dated: 23 September 2012, FID circular No. 05 Dated : 29 May 2013 of Tk. 685,96,80,746 and Interest Suspense as per BRPD Circular # 14, Dated : 23 September 2012 of Tk. 35,03,76,657 in total of Tk. 721,00,57,403. (cont.1)

BIFC 28-Dec-2016

In response to a DSE query dated December 27, 2016, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.

BIFC 07-Nov-2016

Trading of the shares of the Company will resume on 08.11.2016 after record date.

BIFC 06-Nov-2016

Trading of the shares of the Company will remain suspended on record date i.e., 07.11.2016.

BIFC 31-Oct-2016

(Q3 Un-audited): EPS was Tk. (1.51) for July-September, 2016 as against Tk. (3.08) for July-September, 2015; EPS was Tk. (4.90) for January-September, 2016 as against Tk. (3.97) for January-September, 2015. NOCFPS was Tk. 3.45 for January-September, 2016 as against Tk. (14.11) for January-September, 2015. NAV per share was Tk. 5.02 as of September 30, 2016 and Tk. 12.16 as of September 30, 2015.

BIFC 31-Oct-2016

(Q2 Un-audited): EPS was Tk. (1.53) for April-June, 2016 as against Tk. (0.68) for April-June, 2015; EPS was Tk. (3.39) for January-June, 2016 as against Tk. (0.89) for January-June, 2015. NOCFPS was Tk. 0.80 for January-June, 2016 as against Tk. (13.82) for January-June, 2015. NAV per share was Tk. 6.53 as of June 30, 2016 and Tk. 14.77 as of June 30, 2015.

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