,756,431,222 2,640,782,455 10,694,265, Liabilities Borrowings from banks,other financial institutions and agents:

Transcription

1 GSP FINANCE COMPANY (BANGLADESH) LIMITED CONSOLIDATED BALANCE SHEET (Unaudited) AS AT JUNE 30, 2018 PROPERTY AND ASSETS Cash ln hand (including foreign currencies) Balance with Bangladesh Bank and its agents bank(s) (including foreign currencres ) Balance with other banks and financial institutions ln Bangladesh Outside Bangladesh Money at call and short notice lnvestments Government Others Leases, loans and advances Bills Purchased and discounted Fixed assets including premises, furniture and fixtures 47,645,210 50,331, , , ,444,880 8,526,907,690 8,512,452,647 B, 526, 907, 690 8,512,452, ,338,356 49,589, ,202, ,202, , ,898, ,094,458 Other assets 166,381, ,580,379 Non-business assets Total assets LIABILITIES AND CAPITAL Liabilities Borrowings from banks,other financial institutions and agents: Deposits and other accounts Current deposits Bills payable Savings deposits Term deposits Bearer certificate of deposit Other deposits Other liabilities Total Liabilities Capital / Shareholders' Equity Paid up capital Statutory reserve Other reserve Retained earnings Total equity attributable to equity holders of the company N on-control li ng i nterest Total shareholders' equity Total liabilities and Shareholders' equity , ,560,1 10 2,218,693,601 1,845,721, , ,229 4,010,025,176 1,709,115,794 4,177,070,229 1,537,985,875 7,937,834,571 7,560,777,655 1,292,213, ,285, ,689, ,242,385 1,046,326, ,451, ,689, ,314J32 2,756,431,175 2,640,782, ,756,431,222 2,640,782,455 10,694,265, l, Pariba-ch, Mymensingh Road,Dhaka1000, Bangladesh, Phone ,Fax info@gspfinance.com, nce.com

2 GSP I.-INANCTT] crea ti n g o p po rtu n i't",'' OFF.BALANCE SHEET ITEMS : Contingent liabi I ities Acceptances and endorsements Letter of guarantee lrrevocable letter of credit Bills for collection Other contingent liabilities Other commitments Documentary credits and short term trade and related transactions Fonruard assets purchased and fon.vard deposits placed Undrawn note issuance and revolving undenrrriting facilities Undrawn formal standby facilities, credit lines and other commitments Others Net assets value (NAV) per share ( 2017 restated) Chief Frnancial Managing & CEO 1, pariba-eh,,r,"n,,n-on??fint:io ;T:lHJ"Tll,11i" ], o'\xlo,ou,fax s6741e4 i nfo@-uspfl n a nce.com, na n ce.com

3 GSP FINANCE COMPANY (BANGLADESH) LIMITED CONSOLIDATED PROFIT AND LOSS ACCOUNT (Unaudited) FOR THE HALF YEAR ENDED JUNE 30, 2018 lnterest income from leases,loans and advances lnterest expenses on borrowings, deposits,etc Net interest income lnvestment income Commission, exchange and brokerage Other operating income Total operating income Salary and allowances Rent, taxes, insu rance, e lectricity, etc. Legal expenses Postage,stamp,te lecom m u n ication,etc. Stationery, printi ng, advertisements, etc. Managing 's salary and allowances s' fees Audit fees Depreciation and repairs of company's assets Other operating expenses Total operating expenses Profit before provision Provision for leases,loans and advances Other provision Total provision Total profit before income tax Provision for income tax Net profit after income tax Attributable to: Shareholders of the company Non-controlling interest Retained earnings brought fonruard from previous year Appropriations: Statutory reserve Dividend paid from retained earnings for the year 2017 Retained earnings carried to the balance sheet 580,314, ,995, ,319, ,383,622 4,928,767 53,324, ,955,973 24,855, ,094 92, ,351 1,057,7 81 3,234,, , ,250 3,814,303 8,459,726 43,051, ,904, ,464, ,464, ,925, ,890, ,034,223 53,822, ,306, ,028, ,028,357 70,790,413 93,109, ,648, ,410, ,010, ,929, ,080,87 4 3,309, 917 2,553,925 21,683, ,628,080 39,007,458 39,007, ,439, ,519,516 92,37 5, ,648, ,648, ,314, ,410, ,410, ,363,625 87,881, ,482,0 50 6,751,165 1,752,186 20,799, ,784,955 19,865, ,219 70, ,500 1,154,531 3,092, , ,250 4,406,824 8,77 9,867 13,257, ,730 92, , ,165 1,684, ,000 49,625 1,855,303 4,084,298 12,139, ,666 55, , ,630 1,692, ,000 61,750 2,166,262 4,336, ,758,603 22,245,458 21,871, ,547, ,392, ,913,941 46,620,909 46,620, ,293,032 33,076,288 48,531,486 59,298,876 71,761,546 59,298,975 59,298, ,772,943 97,090, ,183, ,388, ,761, ,761, ,712, ,474,225 20,833, ,896, ,720,512 25,831, ,1 91, , 1 46, ,1 46,547 14,122, ,1 91, ,314, ,242, ,159, ,242, ,1 59,550 Earning per share (2017 restated) Chief Financial Officer (C.C) Company Secretary Managing & CEO l, Paribagh, Mymensingh Road,Dhaka1000, Ban-qladesh, Phone ,Fax+BB info@-uspfinance.com,

4 GSP 1,-I^\-AN(']i GSP FINANCE COMPANY (BANGLADESH ) LIMITED CONSOLIDATED CASH FLOW STATEMENT (Unaudited) FOR THE HALF YEAR ENDED JUNE 30, 2018 Cash flows from operating activities: lnterest receipt in cash lnterest payment Dividend receipts Commission, exchange and brokerage Recoveries of loan previously written-off lncome taxes paid Receipts from other operating activities Payments for other operating activities Cash generated from operating activities before changes in operating assets and liabilities lncrease / decrease in operating assets and llabllltles Statutory deposit Trading securities Leases, loans and advances Other assets Deposit and other accounts Other liabilities on account of customers Trading liabilities Other liabilities Net cash flow from operating activities Cash flows from investing activities: Proceeds from sale of securities Payments for purchases of securities Purchase of fixed assets Proceeds from sale of fixed assets Payment against lease obligation Net cash used by investing activities Cash flows from financing activities: Receipts of borrowings from banks, other financial institutions and agents Repayment of borrowings from banks, other financial institutions and agents Receipts against issue of share capital (lpo) Receipts against Share Premium (lpo) Dividend paid in cash Net cash from financing activities Net increase / (decrease) in cash and cash equivalents Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of the period Cash and cash equivalents at the end of the period Cash and cash equivalents at the end of the period cash in hand (including foreign currencies) Balance with Bangladesh Bank and its agent bank(s) (including forergn currencies) Balance with banks and other financial institutions Money at call and short notice Net Operating Cash Flow per share (2017 restated) 547,659,914 (268,073,661) 6,670,1 85 4,928,767 (23,51 0,51 0) 55,380,552 39,003, , ,238,407 (14,455,043) 8,021,480 (167,045,053) 52,281,094 (225,7 59,709) ,1 19 4,490,383 (96,037,012) (58,200) (91,604,829) 701,877,165 (328,905,1 1 5) (7 44,295,369) (17,560,635) 28,222,248 26,934,847 (706,698,909\ (383,460,502) 9,135,170 (47,592,7 82) (152,090) (38,609,7 01) 1,330,000,000 (576,500,966) 230,191, , s,uo,uro,rro I I +sg,ago,ggl I 1,400,920 46,244, ,548, , ,164,777 (151,369,031) 4,038,906 4,127,289 (5,808,542) 52,327,537 34,242,, ,070 63,343, ,368, ,127, (9.00 Chief Financial Officer (C.C.) Company Secretary Managing & CEO l, Pariba-eh, Mymensingh Road,Dhaka1000, Bangladesh, Phone +BBO ,Fax info@-uspfi nance.com, www'gspfinance.com

5 I SP INANCII u*, ooo*urn"u* Particulars Balance as at January 01,2017 Share Transferred Cash dividend paid for the year 2016 GSP FTNANCE COMPANY (BANGLADESH) LIMITED CONSOLIDATED STATEMENT OF CHANGES ln EQUITY (Unaudited) FOR THE HALF YEAR ENDED JUNE 30, 2018 Attributable to equity holders of the Company Capital Statutory Reserve(Tk.) Paid up capital (rk.) Reserue(Tk.) Retained Earnings (Tk.) Noncontrolling interest (Tk.) Total equity (Tk.) 1,046,32a,r,Uo ,548,821, (230,191,929) Net profit for the 2nd quarter ended ,41 0,256 Transferred to statutory reserve iro Balance as at 30 June, ,046,326, , 689, ,457,039,722 Chanqes in accountinq policy Restated balance as at 30 Ju ne, ,046,326, ,689, , ,457,039,722 1,046,326, ,640,782,4-55 Balance as at January 01, 2018 Share Transferred Dividend paid for the year 2017 Net profit for the 2nd quarter ended 2018 Transferred to statutory reserve ,648,765 Balance as at 30 June, ,292,213, ,689, ,285, ,242, ,7 56,431,222 Chief Financial Officer (C. Managing & CEO sdl- l, paribagh, Mymensingh Road,Dhaka100O, Bangladesh, Phone +BB ,Fax info@-uspfi nance.com,

6 :: GSP Fl:\"A:\"CE --- creating opporcunities PROPERTY AND ASSETS Cash In hand (including foreign currencies) Balance with Bangladesh Bank and its agents bank(s) (including foreign currencies ) Balance with other banks and financial institutions In Bangladesh Outside Bangladesh Money at call and short notice Investments Government Others Leases, loans and advances Bills Purchased and discounted GSP FINANCE COMPANY (BANGLADESH) LIMITED BALANCE SHEET (Unaudited) AS AT JUNE 30, 2018 Amount in Taka Jun. 30, 2018 II Dec.31, ,619,225 1,374,935 46,244, ,805, , 805, 72I I :585:522 I I 8,058,839,397 8,058, 839, 97I I 50,329, ,663 49,589, ,309, , 309, 79I : 186:018 I 8,070,564,486 8,070,564, 86I Fixed assets including premises, furniture and fixtures 961,985, ,286,368 Other assets Non-business assets Total assets LIABILITIES AND CAPITAL Liabilities Borrowings from banks,other financial institutions and agents: 415,558,281 10,418,393,621 2,218,693, ,812,748 9,961,488,185 1,845,721,551 Deposits and other accounts Current deposits Bills payable Savings deposits Term deposits Bearer certificate of deposit Other deposits Other liabilities Total Liabilities Capital / Shareholders' Equity Paid up capital Statutory reserve Other reserve Retained earnings Total liabilities and Shareholders' equity ,010,025, ,177,070, ,493,860,326 1,347,050,298 7,722,579,103 7,369,842, ,292,213,780 1,046,326, ,285, , 451, ,689, ,689,624 =.-::.-::.-:..-:..-:.. 8 """ 5 _6 c..a 2 5 _7 -= 2 = 8 ===== :.:.= -= :: ::: :: = 7 = 8 = 2 = 9 = 10,418,393,621 9,961,488,185 I, Paribagh, Mymensingh Road, Dhakal 000, Bangladesh, Phone , Fax info@gspfinance.com,

7 - OFF.BALANCE SHEET ITEMS : Contingent liabil ities Acceptances and endorsements Letter of guarantee lrrevocable letter of credit Bills for collection Other contingent liabilities Fonruard assets purchased and forward deposits placed Undrawn note issuance and revolving underwriting facilities Undrawn formal standby facilities, credit lines and other commitments Others Total off-balance sheet Net assets value (NAV) Chief Financial Officer Managing & CEO l, Paribagh, Mymensingh Road, Dhakal 000, Bangladesh' Phone +BBO 'Fax info@gspfi nance.com,

8 GSP FINANCE COMPANY (BANGLADESH) LIMITED PROFIT AND LOSS ACCOUNT (Unaudited) FOR THE HALF YEAR ENDED JUNE 30,2018 lnterest income from leases,loans and advances lnterest expenses on borrowings, deposits,etc Net interest income lnvestment income Commission, exchange and brokerage Other operating income Total operating income Salary and allowances Rent, taxes, insura nce, electricity,etc. Legal expenses Postage, stam p,telecom m unication,etc. Stationery, printing, advertisements, etc. Managing 's salary and allowances s' fees Audit fees Depreciation and repairs of company's assets Other operating expenses Total operating expenses Profit before provision Provision for leases,loans and advances Other provision Total provision Total profit before income tax Provision for income tax Net profit after income tax 542,155, ,995, ,160, ,973, ,971, ,920,206 21,567, ,342, , ,219 92,000 70, , ,104 1,037,951 1,094,001 3,234,249 3,092, , ,000 97, ,7 50 3,358,745 3,952,415 8,015,238 8,343,147 38, ,208, ,342, ,711, ,271,989 78,994,693 78,994, ,716,865 87,558, ,158, ,676, ,929, ,7 46,579 2,148,844 21,407, ,303,033 11,640, ,230 92, , ,545 1,684, ,000 48,87 5 1,627,524 3,842,973 20,055, ,247,257 35,577,920 35,577,920 78,669, ,7 87,385 87, BB 1, ,905,810 2,029,479 20,721, ,657,266 10,262, ,666 55, , ,190 1,682, ,000 55,2 50 1,939,057 4,17 8,897 19,509, ,148,262 27,665,766 27,665, ,482,496 27,936,603 47,868,760 50,732,734 70,613,736 Retained earnings brought forward from previous year Appropriations: Statutory reserve Dividend paid from retained earnings for the year 2017 Retained earnings carried to the balance sheet Earning per share (2017 restated) 248,177,829 45,039, ,526, ,848,879 95,772, ,139,906 25,831, , 1 46,547 14,122, ,886, ,720, ,191, ,023, ,1 46, ,1 91, ,314,676 85,625, ,825,230 85,625, ,825, s Chief Financial Officer (C.C) Company Secretary Managing & CEO' 1, Paribash, IV1Yrnensingh GSP Finance company (Bangladesh) Limited Road, Dhaka'l 000, Banglaciesh, Phone , Fax +BB i nfo@gspfi n a nce.com, v/ww.gs pfi na n ce'com

9 GSP F'INANCE -o creati ng opportu niti es GSP FINANCE COMPANY (BANGLADESH ) LIMITED CASH FLOW STATEMENT (Unaudited) FOR THE HALF YEAR ENDED JUNE 30, 2018 Cash flows from operating activities: lnterest receipt in cash lnterest payment Dividend receipts Commission, exchange and brokerage Recoveries of loan previously written-off lncome taxes paid Receipts from other operating activities Payments for other operating activities Cash generated from operating activities before changes in operating assets and liabilities tncrease / decrease in operating assets and liabilities Statutory deposit Trading securities Leases, loans and advances Other assets Deposit and other accounts Other liabilities on account of customers Trading liabilities Other tiabilities Net cash flow from operating activities Cash flows from investing activities: Proceeds from sale of securities Payments for purchases of securities Purchase of fixed assets Proceeds from sale of fixed assets Payment against lease obligation Net cash used by investing activities Cash flows from financing activities: Receipts of borrowings from banks, other financial institutions and agents Repayment of borrowings from banks, other financial institutions and agents Receipts against issue of share capital (lpo) Receipts against Share Premium (lpo) Dividend paid in cash Net cash flow from financing activities 520,028,148 (268,073,661) 6,469,431 (23,427,881) 53,686,630 35,049, ,633, ,229 11,725,089 (2,533, 030) (167,045,053) 47,508,438 (205,361,432) 48,271,687 4,107,021 (94, 506, 526) (58,200) (90,457,705) 372,972, ,274,412 (151,369,031) 4,038,906 (5,800,934) 46,131,359 31,158,483 (708,247,829) (24,077,970) 28,222,248 27,304, 1 31 (676,799,420\ (392,683,192) 6, 985,906 (47,554,852) (152,090) (40,721,035) 1,330,000,000 (576,500, 966) 230,1 91, Net increase / (decrease) in cash and cash equivalents Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of the period Cash and cash equivalents at the end of the period Cash and cash equivalents at the end of the period cash in hand (including foreign currencies) Balance with Bangladesh Bank and its agent bank(s) (including foreign currencies) Balance with banks and other financial institutions Money at call and short notice 1,374,935 46,244, ,805, ,424, ,763 63,343, ,176, ,909,997 Net Operating Cash Flow per share (2017 restated) 0.37 (3.04) Chief Financial Officer (C.C) Company Secretary Managing & CEO l, Paribagh, Mymensingh Road, Dhakal 000, Ban-sladesh, Phone , Fax i nfo@gspf i na nce.co m, i nance'com

10 GSP FINANCE GOMPANY (BANGLADESH) LIMITED STATEMENT OF CHANGES ln EQUITY (Unaudited) FOR THE HALF YEAR ENDED JUNE 30, 2018 Pa rticu la rs Balance as at January 01,2017 Cash dividend paid for the year 2016 Net profit for the 2nd quarter ended 2016 Transferred to statutory reserve Paid up capital (Tk.) Capital Reserve(Tk.) Statutory Reserve(Tk.) Retained Earnings (Tk.) 1,046,326, ,689, ,690,280 (230,191,929) 129,158,599 (25,831,720) Total (Tk.) 2,514,738,688 (230,191,929) 129,158,599 Balance as at 30 June, ,046,326, ,689, ,863, ,825,230 2,413,705,358 Changes in accounting PolicY Restated balance as at 30 June, ,046,326, ,689, ,863, ,825,230 2,413,705,358 Balance as at January 01, 2018 Dividend paid for the Year 2017 Net profit for the 2nd quarter ended 2018 Transferred to statutory reserve 1,046,326, ,886, ,689, ,451,704 20,833, ,177,829 (245,886,830) 104,1 68,411 (20,833,682) 2,591,646, , 1 68,411 Balance as at 30 June, ,292,213, ,689, ,285,386 85,625,728 2,695,814,518 Chief Financial Officer (C.C) Managing & CEO l, Paribagh, Mymensingh Road,Dhaka1000, Ban-sladesh, Phone +BB ,Fax i nfo@gspfinance.com, nance.com

11 GSP l-rn^\ \(']l GSP FINANCE COMPANY (BANGLADESH) LIMITED Selected explanatory notes to the Consolidated Financial Statements (Unaudited) as at and for the half year ended 30 June Legal Status GSp Finance Company (Bangladesh) Limited is a Financial lnstitution (Fl) incorporated in Bangladesh on October 29, 1995 as a Public Limited Company under the Companies Act, The Company offers lease finance of all types of plant, machinery, equipment and vehicles both for industrial and commercial use. The Company received its certificate of commencement of business on January 14, 1996 and its license on March 04, 1996 as required under Section 4(1) of the Financial lnstitutions Act' The Company went into commercial operation on April 17, The Company was listed with The registered otfice of the Company is situated at 1, Paribagh, Mymensingh Road, Dhaka Basis of Accounting These Financial Statements have been prepared under historical cost convention following accrual basis of accounting and in compliance with the requirements of Companies Act 1994, Bangladesh Accounting Standards (BASs), Bangladesh Financial Reporting Standards (BFRSS) and Financial lnstitution Act Basis of consolidation of operation of subsidiary The consolidation of the financial statements have been made after eliminating all material intra group transactions. The total profits of the Company and its subsidiaries are shown in the consolidated profit and loss account, with the proportion of profit after taxation pertaining to minority shareholders being deducted as'non-controlling interest'. Earning Per Share (EPS) Earningi per share has been calculated based on number of shares outstanding for the period ended 30 June, and nei piofit after tax for the same period. The number of shares outstanding for the period was 129,221,378. Earnings per share for the preceding 2nd quarter of 2017 has also been calculated based on 129,221,378 shares. Date of authorization The Board of s has authorized these financial statements for public issue on 29 July, Subsequent events No material events occurred after the balance sheet date, non disclosure of which could affect the ability of the users of the financial statements to make proper evaluation and decisions. Reclassification To facilitate comparison, certain relevant figures pertaining to previous period/year have been rearranged/ restated/ reclassified, whenever considered necessary, to conform to current period's presentation. Rounding off Monetary figures in the financial statements have been rounded off to the nearest Taka. Composition of Shareholders' Equity as on : Particulars Paid up capital Share premium preference share Statutory reserve Other reservelassets revalution reserve Retained earnings Non-control I i ng interest Total shareholders' equity Number of Shares Face value 129,221, Taka 1,292,213, ,285, ,689, ,242, ,756,43',1.222 l, Paribagh, MymensinghRoad,Dhakal000, Bangladesh, Phone+BBo ,Fax i nfo@-es pfi na n ce.com, pfi n a nce.co m

12 GSP F-I}dANCE Date of issue & other information: Date Types of Paid up Capital No. of Shares Face Value Per Share Taka Promoter Share 22, ,250, Allotment 25, ,500, Allotment ,917, Allotment 23, ,331, Allotment 100, ,000, Allotment 100, ,000, % 17 0, ,000, % ,700, % 102, ,285,000 Before Split 215,985,000 After Split 21,598, ,985, % 10 60,47 5, rpo 20,000, ,000, % 4,764, ,646, % 7,861, ,616, % 7,232, ,326, % 37,127, ,277, % 24,588, ,886,830 Total 129,221,378 1,292,213, Net Asset Value Per share (NAV): Total Shareholders' equity Number of shares outstanding NAV per share NAV per share (Restated) 2,7 56,431,222 2,640,7 82, ,221, ,632, ' Earnings per share (EPS): Net profit after tax Number of shares outstanding EPS per share EPS per share (Restated) 1 15,648, ,410, ,221, ,632,695 " Net Operating Cash Flow Per share Net cash flow from operating activities Number of shares outstanding NOCFPS NOCFPS (Restated) 58,292,119 (388,460,502) 129,221, ,,632, (3.71) 0.45 (3.01) l, Paribagh, Mymensin-uh Road,Dhaka1000, Bangladesh, Phone +BB ,Fax info@gspfinance.com,

13 GSP F''INANOII 13 Reconciliation of Operating Activities of Cash Flows; Net Profit After Tax Depreciation Provision for lease and loans Provision for taxation lncrease in lease and loans lncome tax paid lncrease in deposit and other accounts lncrease in other liabilities lncrease in other assets Cash flows from operating activities 3,81 4,303 4,406, ,464, ,028,357,1 09,260,295,369),248,099,502 Chief Financial Officer (C.C) Managing & CEO l, Paribagh, Mymensingh Road,Dhaka1000, Ban-sladesh, Phone ,Fax+BB i nfo@-espfina nce.com, nce.com