Balance sheet as at March 20th 2009
(Reviewed)
Note March 20th 2009 March 20th 2008
Assets
Million Rials
Million Rials
6
Cash 5,021,991 1,184,694
7
Dues from the Central Bank 41,501,683 37,749,696
8
Dues from Banks & Credit Institutes 48,463,807 29,392,036
9
Dues from the Government 11,753,298 7,411,536
10
Loans & Advances to the Public Sector 10,447,263 14,580,832
11
Loans & Advances to the subsidiaries 593,819 563,773
12
Loans & Advances to the other parties 226,402,005 208,015,879
13
Dues from L/Cs & Time Drafts 53,965,159 58,526,920
14
Participation Bonds & the Like 2,394,504 2,384,004
15
Investments & Partnerships 4,295,410 3,365,803
16
Fixed Assets 13,923,599 13,378,715
17
Other Assets 3,915,653 2,704,342
-----------
18
Items in Transit 5,331,578
Total Assets 422,678,191 384,590,808
Contingent Liabilities :
Party to Liabilities for L/Cs 105,230,140 118,531,582
Party to Liabilities for L/Gs 44,792,399 40,009,957
Party to Other Liabilities 31,895,365 23,067,574
Managed Funds & the Like 3,039,844 2,938,938
Total Contingent Liabilities 184,957,748 184,548,051
47
54
Balance sheet as at March 20th 2009
(Reviewed)
Note
March 20th 2009 March 20th 2008
Liabilities & Shareholders equity
Million Rials
Million Rials
Liabilities
19 22,592,390 7,817,650
Dues to the Central Bank
20 29,279,668 29,280,899
Dues to Banks & Credit Institutes
21 87,163,163 103,462,082
Sight Deposits
22 20,696,568 19,444,676
Saving Deposits & the Like
23 147,951,441 120,639,187
Time Investment Deposits
24 22,901,296 22,541,142
Other Deposits
25 2,549,094 433,457
Tax due
26 6,712,290 5,015,467
Provisions & Other Dues
27 53,965,159 58,526,920
Acceptances & Endorsements
28 1,393,970 1,269,016
Severance provisions
18 8,510,472 -----------
Items in transit
Total Liabilities 403,715,511 368,430,496
Shareholders Equity:
Capital 29 13,100,000 13,100,000
(Including 13,100 million shares, each 1000 Rials)
Reserves 30 1,873,266 1,134,920
Exchange Translation Gain (Loss) 31 (63,442) 75,934
Exchange Translation Reserve 32 928,665 928,665
Retained Earnings (Loss) 3,124,191 920,793
Total Shareholders Equity 18,962,680 16,160,312
Total Liabilities&
422,678,191 384,590,808
Shareholders Equity
Contingent Liabilities :
Liabilities for L/Cs 105,230,140 118,531,582
Liabilities for L/Gs 44,792,399 40,009,957
Other Liabilities 31,895,365 23,067,574
Party To Managed Funds & The Like 3,039,844 2,938,938
Total Contingent Liabilities 184,957,748 184,548,051
47
55
Profit & Loss Account
For the Financial Year Ending on March 20th 2009
(Reviewed)
March 20th 2009 March 20th 2008
Note
A-Income from both bank s
Million Rials
Million Rials
& depositors resources:
Profit from granted facilities
34 24,843,509 19,316,615
Profit from investments & partnerships
35 681,327 460,117
Joint Incomes
25,524,836 19,776,732
Deductions:
Partial payment on profit paid to depositors
36 15,873,374 (10,853,646)
Surplus paid to depositors
37 0 (159,151)
Profit Paid to Depositors
15,873,374 (11,012,797)
Bank s profit shares & fees received
9,651,462 8,763,935
B- Income from bank s own resources:
Profit & Late Payment Charges Received 38 5,164,847 4,930,868
Commissions received 39 2,441,222 2,127,831
Other Incomes 40 3,323,610 390,635
Total incomes gained from bank s own resources 10,929,679 7,449,333
Bank s total income 20,581,141 16,213,268
C- Expenses:
Financial expenses (3,088,024) (2,160,685)
41
Total expenses (13,464,191) (11,158,205)
42
Other expenses (442,797) (375,318)
43
Bank s total expenses (16,995,012) (13,694,208)
Profit before tax deduction 3,586,129 2,519,060
Deductions:
Tax (665,505) (564,348)
Net profit 2,920,624 1,954,712
Earning per share 223 Rials 149 Rials
Retained earnings (Loss) Cash Flow
Net profit (loss) 2,920,624 1,954,712
Retained earnings at the beginning of the year 735,547 2,820,055
Yearly adjustments 185,246 (2,468,491)
44
Retained earning (Loss) at the
Beginning of the year-adjusted 920,793 351,564
Distributable profit 3,841,417 2,306,276
Profit distribution:
Legal reserve (717,226) (377,859)
Government s dividend (as per budget law) 0 (1,007,624)
(717,226) (1,385,483)
Retained earning at the end of the year 3,124,191 920,793
56