GRAMEEN BANK
Profit and Loss Account
For the year ended 31 December 2008
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Notes |
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2008
Taka |
|
2007
Taka |
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| OPERATING INCOME |
|
|
|
|
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| INTEREST INCOME |
16 |
|
7,831,802,905 |
|
6,790,936,211 |
| LESS: INTEREST/PROFIT PAID ON DEPOSITS & BORROWINGS ETC. |
17 |
|
(5,456,923,644) |
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(4,506,165,656) |
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Net Interest Income |
|
|
2,374,879,261 |
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2,284,770,555 |
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Income from Investments in fixed deposits |
|
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3,242,507,268 |
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2,904,090,130 |
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Income from Investments in Grameen Mutual Fund-One |
|
|
1,721,542 |
|
66,330,090 |
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Other income |
18 |
|
923,182,445 |
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878,176,622 |
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Total operating income |
|
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6,542,290,516 |
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6,133,367,397 |
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|
|
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| LESS: OPERATING EXPENSES |
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|
|
|
|
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Salaries and other related expenses |
19 |
|
2,954,806,568 |
|
2,472,022,999 |
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Rent, rates, taxes, vehicle insurance, utilities etc. |
20 |
|
93,270,782 |
|
83,419,842 |
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Legal and professional expenses |
21 |
|
119,985,004 |
|
96,117,235 |
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Auditors' fees |
22 |
|
1,110,444 |
|
1,216,380 |
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Stationery, printing, advertisement etc. |
23 |
|
118,396,308 |
|
111,236,170 |
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Managing Director's salary & allowances |
24 |
|
535,680 |
|
531,080 |
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Directors’ remuneration |
|
|
178,000 |
|
148,000 |
| |
Repairs & maintenance of fixed assets |
25 |
|
50,414,227 |
|
36,491,171 |
| |
Depreciation of fixed assets (Annex-A) |
|
|
66,549,640 |
|
64,396,885 |
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Other expenses |
26 |
|
968,125,906 |
|
824,048,427 |
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Total Operating Expenses |
|
|
4,373,372,559 |
|
3,689,628,189 |
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Profit before provision |
|
|
2,168,917,957 |
|
2,443,739,208 |
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Provisions for loans and advances |
27 |
|
|
|
|
| |
Specific Provision |
|
|
780,426,028 |
|
2,349,698,239 |
| |
General Provision |
|
|
83,818,521 |
|
(12,873,161) |
| |
|
|
|
864,244,549 |
|
2,336,825,078 |
| NET PROFIT |
|
|
1,304,673,408 |
|
106,914,130 |
| |
|
|
|
|
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| APPROPRIATIONS |
|
|
|
|
|
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|
|
|
|
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| NET PROFIT TRASFERRED TO |
|
|
1,304,673,408 |
|
106,914,130 |
| |
|
|
|
|
|
| |
Retained earnings brought forward from previous year |
14 |
|
358,000,000 |
|
94,100,000 |
| |
Dividend Equalization fund |
|
|
|
|
30,000,000 |
| |
Proposed cash dividend @ 20% for the year 2007 |
|
|
107,400,000 |
|
63,600,000 |
| |
General reserve |
|
|
716,000,000 |
|
10,000,000 |
| |
Employees Welfare fund |
|
|
14,273,408 |
|
3,314,130 |
| |
|
|
|
1,195,673,408 |
|
106,914,130 |
| |
Retained surplus |
|
|
109,000,000 |
|
94,100,000 |
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|
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|
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The annexed notes 1 to 30 form an integral part of these financial statements.
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(M. Shahjahan)
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(Dr. Muhammad Yunus)
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| Dhaka, 24 June, 2008 |
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