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UTTARABANK

All Eps Dividend Board Agm Q1 Q2 Q3

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): in its 714th meeting held on 31.05.2020 revised and recommended 23% Stock & 7% Cash Dividend per ordinary share for the year 2019. The company evaluated its December 31, 2019 consolidated financial statements for subsequent events through the date the consolidated financial statements were issued. As a result of the spread of the COVID-19 coronavirus, (cont. 9)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): for the banks which have already declared their dividend based on the audited Financial Statements. Since the Board of Directors of the Bank recommended 35% Dividend (25% Stock & 10% Cash) it was necessary to follow the DOS Circular no. 3 dated 11.05.2020 of Bangladesh Bank. To comply with the above circular the Board of Directors of the Bank (cont. 8)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): on 29.03.2020 recommended 25% Stock & 10% Cash Dividend for the year 2019. Afterwards, the department of Off-site Supervision of Bangladesh Bank vide their DOS Circular no. 3 dated 11.05.2020 instructed all banks to declare maximum 30% Dividend for the year 2019 out of which maximum cash dividend would be 15%. This instruction is also applicable (cont. 7)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): subsequent event procedures up to March 29th 2020 and then extended up to May 31st 2020, restricted to the amendment to the note disclosure regarding the dividend disclosure. Our opinion is not modified in respect of this matter. Note- 43.00 Events after the Balance Sheet date: The Board of Directors of the Bank in its 710th meeting held (cont. 6)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): in accordance with regulatory instructions. 2.We draw attention to Note 43.00 and 44.00 of the financial statements, which describe the matters related to the Company?s dividend declaration and subsequent revision to the declaration on May 31st, 2020, based on directions issued by Bangladesh Bank. In line with ISA 560, we have performed our (cont. 5)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): of rental and operating leases by the Bank. The impact on operating expenses, earnings per share and other price sensitive information such as net asset value per share and net operating cash flow per share is not expected to be material. However, the Bank will keep contact with regulators and observe the market practice for uniformity and will take necessary actions (cont. 4)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): to the financial statements for the adoption of this new accounting standard. As a result, the Bank has prepared their financial statements using IAS 17 which is the accounting standard for leases preceding IFRS 16. This is a departure from International Financial Reporting Standards (IFRS). Adopting IFRS 16 will lead to changes in the presentation and disclosure (cont. 3)

UTTARABANK 18-Jun-2020

(Continuation news of UTTARABANK): which replaces IAS 17 and sets out the principle for the recognition, measurement, presentation and disclosure of leases. The standard has become effective for all annual reporting periods beginning on or after 1 January, 2019. The Bank is currently in the process of adopting IFRS 16 and is going through the assessment process to determine the impact and change (cont. 2)

UTTARABANK 18-Jun-2020

Emphasis of Matter: We draw attention to Note 3.01 (XV) of the financial statements, which describes matters related to implementation of ?IFRS 16 Leases? including preliminary assessment of its impact as assessed by management. Our opinion is not modified in respect of this matter. Note- 3.01 (XV) Leases: The International Accounting Standards Board (IASB) issued IFRS 16, Leases, (cont. 1)

UTTARABANK 03-Jun-2020

Trading of the Shares of the Company will resume on 04.06.2020 after record date.

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