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Karachi: We have to inform you that the Board of Directors of IGI Investment Bank Limited (IGIBL) in their meeting held at 11:00 a.m. on Friday, August 26, 2011, has approved the audited financial statements for the year ended June 30, 2011 the profit and loss account of which is reproduced as follows:
Profit and Loss Account for the Year Ended June 30, 2011
|
2011 |
2010 |
|
|
(Rupees in thousand) |
||
| Income | ||
| Income from investments | 679,386 | 587,868 |
| Income from loans and advances | 36,730 | 66,558 |
| Income from lease finance | 76,955 | 148,789 |
| Income from endings – secured | 99,662 | 18,851 |
| Income from fees, commission and brokerage | 26,448 | 22,135 |
| ——– | ——– | |
| 919,181 | 844,201 | |
| Finance costs | 792,627 | 667,449 |
| ——– | ——– | |
| 126,554 | 176,752 | |
| Administrative and General expenses | 186,295 | 187,760 |
| ——– | ——– | |
| (59,741) | (11,008) | |
| Other operating Income | 14,384 | 27,681 |
| ——– | ——– | |
| (45,357) | 16,673 | |
| Other operating expenses | 6,827 | 6,478 |
| ——– | ——– | |
| Operating (loss) / profit before provisions | (52,184) | 10,195 |
| Reversal / (Provision) for bad and doubtful loans and | – | 36,469 |
| advances / lease losses – general – net | ||
| Provision for bad and doubtful loans and advances | (10,485) | (300,663) |
| / lease losses-specific-net | ||
| ——– | ——– | |
| (10,485) | (264,194) | |
| ——– | ——– | |
| Impairment against Investments: | ||
| Fund placements and term finance certificates – net | (16,405) | (1,731) |
| Equity securities: | ||
| Equity securities held as at year end | (4,933) | – |
| Unquoted equity securities and preference shares | (4,681) | (130,687) |
| ——– | ——– | |
| (26,019) | (130,687) | |
| ——– | ——– | |
| (26,019) | (132,418) | |
| Loss before taxation | (88,688) | (386,417) |
| Taxation – net | (80,307) | 187,047 |
| ——– | ——– | |
| Loss after taxation | (168,995) | (199,370) |
| Other comprehensive Income – net of tax | – | – |
| ——– | ——– | |
| Total comprehensive loss – net of tax | (168,995) | (199,370) |
| ——– | ——– | |
|
—-(Rupee)—- |
||
| Loss per share – Basic | (0.80) | (0.94) |
Cash Dividend Nil
Bonus Issue Nil
Right Shares Nil
For more information, contact:
IGI Investment Bank Limited
7th Floor, The Forum,
Suite No 701 -713,
G-20, Block -9,
Khayaban-e-Jami, Clifton,
Karachi-75600, Pakistan
Tel: 111-234-234
Fax: 111-567-567