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ICBIBANK

All Eps Dividend Board Agm Q1 Q2 Q3

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): quarter of 2020 compared to the first quarter of 2019. The initiatives taken by the Bank are cost optimisation, profit maximisation through increasing loans and advances, launching new products, etc. The Bank is considering various options and plans to address the issue of working capital deficiency. Due to the initiatives taken by the Bank, BDT 13 crores have (cont.9)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): Tobacco Industries Ltd., Kushal Centre and Bishal centre which will fetch approximately BDT 200 crores. This amount will be absorbed in the Bank's retained earnings as well as help in upgrading the Bank's present capital base. The Bank has sold some of the securities of its Investments in the first quarter of 2020 which will significantly reduce its losses in the first (cont.8)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): between the historical cost and estimated net realisable values. However, the financial statements for the year ended 31st December 2019 are presented on a going concern basis as the management of the Bank believe the going concern assumption to be appropriate. The Bank is trying to sell the three properties acquired against settlement of Investments, namely, (cont.7)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): cases that the final ruling of the court will be in favour of Bangladesh Bank which will pave the path for injecting fresh capital. The Bank had presented its financial statements for the year ended 31st December 2017 on a going concern basis. Last year, the Bank had presented its financial statements on other than going concern basis even though there were no differences (cont.6)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): bank is classified. Six legal cases have been initiated by the erstwhile promoters against Bangladesh Bank in connection with forfeiture of their shares, the present majority shareholders of ICBIBL are awaiting the outcome of these cases which are still pending in the Appellate Division of the Supreme Court for hearing. The management is optimistic about the (cont.5)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): of Tk. 18,654 million for the year ended 31 December 2019; Negative equity of Tk. 11,374 million as at 31 December 2019 and capital adequacy ratio of (133.11%) as against minimum of 12.50%; Profit paying deposits aggregates to BDT 7,683 million as against the profit earning investment of BDT 1,350 million as at 31 December 2019; Overall 84% Of investment of the (cont.4)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): bank is classified. As stated in Note 3.3, these events or conditions, along with other matters as set forth in Note 3.3, indicate that a material uncertainty exists that may cast significant doubt on the Bank's ability to continue as a going concern. Our opinion is not modified in respect of this matter. Note 3.3 Going concern assumption: The Bank has an accumulated loss (cont.3)

ICBIBANK 09-Jul-2020

(Continuation news of ICBIBANK): the year ended 31 December 2019; Negative equity of Tk. 11,374 million as at 31 December 2019 and capital adequacy ratio of (133.11%) as against minimum of 12.50%; Profit paying deposits aggregates to BDT 7,683 million as against the profit earning investment of BDT 1,350 million as at 31 December 2019; Overall 84% of investment of the (cont.2)

ICBIBANK 09-Jul-2020

The auditor of ICB Islamic Bank Limited has given the following "Material Uncertainty Related to Going Concern" in the audit report of the company prepared for the year ended on 31 December 2019. Material Uncertainty Related to Going Concern: We draw attention to Note 3.3 in the financial statements, which shows that the Bank has an accumulated loss of Tk. 18,654 million for (cont.1)

ICBIBANK 30-Jun-2020

(Q1 Un-audited): EPS was Tk. (0.09) for January-March 2020 as against Tk. (0.16) for January-March 2019. NOCFPS was Tk. (0.15) for January-March 2020 as against Tk. 0.19 for January-March 2019. NAV per share was Tk. (17.02) as on March 31, 2020 and Tk. (16.63) as on March 31, 2019.

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