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ICBIBANK

All Eps Dividend Board Agm Q1 Q2 Q3

ICBIBANK 04-Jul-2019

As per Regulation 16(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 July 11, 2019 at 2:35 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on June 30, 2019.

ICBIBANK 26-May-2019

Trading of the shares of the Company will resume on 27.05.2019 after record date.

ICBIBANK 26-May-2019

(Continuation news of ICBIBANK): Bangladesh Bank for preparation of financial statements for Banks and the liabilities are measured at the values at which they are expected to be discharged subject to any forbearance in repayment of deposits and other liabilities as may be imposed by the Bangladesh Bank. (end)

ICBIBANK 26-May-2019

(Continuation news of ICBIBANK): Considering the significance of the aforesaid multiple uncertainties related to the Company's ability to continue as a going concern, the financial statements have been prepared other than going concern basis. Accordingly, the assets have been measured at the lower of their historical cost and estimated net realizable values subject to the relevant guidelines issued by (cont.6)

ICBIBANK 26-May-2019

(Continuation news of ICBIBANK): Overall 82% of investment of the bank is classified; recovery from certain non-performing investments as well as non-banking assets acquired in satisfaction of the investments (land and properties) are dependent on the outcome of the ongoing litigations in relation to such investments and properties and further injection of equity capital depends upon resolution of status-quo on transfer of forfeited shares by Bangladesh Bank against previous owners. (cont.5)

ICBIBANK 26-May-2019

(Continuation news of ICBIBANK): ICB Islamic Bank believes that significant material uncertainties related to going concern exists due to accumulated loss of Tk. 18,230 million for the year ended 31 December 2018; Negative equity of Tk. 10,950 million as at 31 December 2018 and capital adequacy ratio of (125.08%) as against minimum of 11.88%; Profit paying deposits aggregates to BDT 7,204 million as against the profit earning investment of BDT 1,554 million as at 31 December 2018; (cont.4)

ICBIBANK 26-May-2019

(Continuation news of ICBIBANK): Consequently, the assets have been stated at the lower of their historic cost and estimated net realizable values and the liabilities have been stated at the values at which they are expected to be discharged subject to any forbearance in repayment of deposits and other liabilities as may be imposed by the Bangladesh Bank. Our opinion is not modified in respect of this matter. Note: 3.3 Going concern assumption: (cont.3)

ICBIBANK 26-May-2019

(Continuation news of ICBIBANK): dependency of the both resolution of status- quo on transfer of forfeited shares by Bangladesh Bank against previous owners and ongoing litigations on liquidation of non-banking assets acquired in satisfaction of investments, etc. which resulted in significant multiple material uncertainties related to the Bank's ability to continue as a going concern and accordingly the financial statements have been prepared other than going concern basis. (cont.2)

ICBIBANK 26-May-2019

The auditor of the company has given the following "Emphasis of Matter" paragraph in the audit report of the company prepared for the year ended on 31 December 2018. Emphasis of Matter: We draw attention to Note 3.3 of the financial statements which discloses the facts of accumulated losses, negative equity and capital adequacy ratio, significantly higher Non Performing/classified Investments (NPIs), (cont.1)

ICBIBANK 23-May-2019

Trading of the shares of the Company will remain suspended on record date i.e., 26.05.2019.

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