BALANCESHEET

Assets 2017 2018 2019 2020 2021

Cash and bakances with treasu 10423998 17752920 19417428 19096891 25761239
Balance with other banks 1173267 1241840 1246953 3279935 1363873
Due from financial institutions 4860272 4000000 5590405 2397516 1031302
Investments 41474123 45850970 49157269 66579570 84861748
Islamic financing and related a 119522264 153306380 177921837 199416405 225364893
Operating fixed assets 1703784 1381172 4288414 3685492 4281548
Intangible assets 0 169752 204062 321916 378536
Deferred tax assets 71759 460313 0 0 0
Other assets 3042056 7659406 6812250 8484438 8431020
Total Assets 182271523 231822753 264638618 303262163 351474159
Liabilities
Bills payable 3677900 2811457 2972307 4246241 7449011
Due to financial institutions 5255642 12670525 9813903 17350949 33545307
Deposit and other accounts 149295457 182186634 209952073 237553365 261573620
Sub-ordinate debt 4000000 7120000 7120000 7120000 7120000
Deferred tax liabilities 0 0 750167 353054 104792
Other liabilities 5130353 10283963 11867534 12014856 14114370
Total liabilities 167359352 215072579 242475984 278638465 323907100
Net Assets 14912171 16750174 22162634 24623698 27567059
Equity
Share capital 11652288 11652288 11652288 11652288 11652288
Reserves 725101 1226954 1896073 2474851 3092713
Unappropriate profit 2677047 4691599 7349049 9671214 12138684
total equity 15054436 17570841 20897410 23798353 26883685
Deficit -142265 -820667 1265224 825345 683374
Net capital 14912171 16750174 22162634 24623698 27567059
 BALANCESH Horizontal
Assets 2017 2018 2019 2020 2021 2017
Cash and b 10423998 17752920 19417428 19096891 25761239 100%
Balance wi 1173267 1241840 1246953 3279935 1363873 100%
Due from fi 4860272 4000000 5590405 2397516 1031302 100%
Investment 41474123 45850970 49157269 66579570 84861748 100%
Islamic fin 119522264 153306380 177921837 199416405 225364893 100%
Operating f 1703784 1381172 4288414 3685492 4281548 100%
Intangible 0 169752 204062 321916 378536 #DIV/0!
Deferred ta 71759 460313 0 0 0 100%
Other asse 3042056 7659406 6812250 8484438 8431020 100%
Total Asset 182271523 231822753 264638618 303262163 351474159 100%
Liabilities
Bills payab 3677900 2811457 2972307 4246241 7449011 100%
Due to finan 5255642 12670525 9813903 17350949 33545307 100%
Deposit an 149295457 182186634 209952073 237553365 261573620 100%
Sub-ordina 4000000 7120000 7120000 7120000 7120000 100%
Deferred tax 0 0 750167 353054 104792 #DIV/0!
Other liabil 5130353 10283963 11867534 12014856 14114370 100%
Total liabili 167359352 215072579 242475984 278638465 323907100 100%
Net Assets 14912171 16750174 22162634 24623698 27567059 100%
Equity
Share capit 11652288 11652288 11652288 11652288 11652288 100%
Reserves 725101 1226954 1896073 2474851 3092713 100%
Unappropria 2677047 4691599 7349049 9671214 12138684 100%
total equity 15054436 17570841 20897410 23798353 26883685 100%
Deficit -142265 -820667 1265224 825345 683374 100%
Net capital 14912171 16750174 22162634 24623698 27567059 100%
 Horizontal Analysis Vertical Analysis
2018 2019 2020 2021 2017 2018 2019
70% 86% 83% 147% 100% 100% 100%
6% 6% 180% 16% 11% 7% 6%
-18% 15% -51% -79% 47% 23% 29%
11% 19% 61% 105% 398% 258% 253%
28% 49% 67% 89% 1147% 864% 916%
-19% 152% 116% 151% 16% 8% 22%
#DIV/0! #DIV/0! #DIV/0! #DIV/0! 0% 1% 1%
541% -100% -100% -100% 1% 3% 0%
152% 124% 179% 177% 29% 43% 35%
27% 45% 66% 93% 1749% 1306% 1363%

-24% -19% 15% 103% 35% 16% 15%

141% 87% 230% 538% 50% 71% 51%
22% 41% 59% 75% 1432% 1026% 1081%
78% 78% 78% 78% 38% 40% 37%
#DIV/0! #DIV/0! #DIV/0! #DIV/0! 0% 0% 4%
100% 131% 134% 175% 49% 58% 61%
29% 45% 66% 94% 1606% 1211% 1249%
12% 49% 65% 85% 143% 94% 114%

0% 0% 0% 0% 112% 66% 60%

69% 161% 241% 327% 7% 7% 10%
75% 175% 261% 353% 26% 26% 38%
17% 39% 58% 79% 144% 99% 108%
477% -989% -680% -580% -1% -5% 7%
12% 49% 65% 85% 143% 94% 114%
rtical Analysis
2020 2021
100% 100%
17% 5%
13% 4%
349% 329%
1044% 875%
19% 17%
2% 1%
0% 0%
44% 33%
1588% 1364%

22% 29%
91% 130%
1244% 1015%
37% 28%
2% 0%
63% 55%
1459% 1257%
129% 107%

61% 45%
13% 12%
51% 47%
125% 104%
4% 3%
129% 107%
 Income Statement
2017 2018 2019
Profit Earned 10797894 14901469 26138948
Profit Expenses -4197721 -6778333 -15615070
Net Profit 6600173 8123136 10523878

Provision against non performing Islamic financing and related a -155601

Provision for diminution in the value of investment-net -30256
Provision and write off -221788 -721628
Bad debts written off
-185857 -221788 -721628
Net spread earned after provision 6414316 7901348 9802250
Other income
Fee commission and brokerage incone 1695661 1682033 1679676
Dividend income
Income (loss) from dealing in foreign currencies 128840 562923 709722
Gain on sales of securities 77722 367270
Other income 474 3407 2989
Total other income 1902697 2248363 2759657
Total income 8317013 10149711 12561907

Other expenses
Operating expenses -5942917 -6658707
Worker welfare fund -86568 -116083
Other charges -61291 -239 -99043
Administrative expense -5693223
Other reversal of provisions 1066
Total other expenses -5753448 -6029724 -6873833
2563565 4119987 5688074

Extra ordinary/unusual items

Profit before taxation 2563565 4119987 5688074
Taxation -961529 -1610722 -2342477
Current -870066
Prior year -61255
Deferred -30208

Profit after taxation 1602036 2509265 3345597

 Operating Income
2020 2021 2017 2018 2019 2020 2021
25981040 22754753 Profit Earn 10797894 14901469 26138948 25981040 22754753
-14085771 -10858227 Profit Exp -4197721 -6778333 -1.6E+07 -1.4E+07 -1.1E+07
11895269 11896526 Net Profit 6600173 8123136 10523878 11895269 11896526
Other income
Fee commis1695661 1682033 1679676 1550006 1981011
Income (los 128840 562923 709722 743694 1097646
-2135241 -2097707 Gain on sal 77722 0 367270 194317 576907
Other inco 474 3407 2989 7288 1354
-2135241 -2097707 Total other 1902697 2248363 2759657 2495305 3656918
9760028 9798819 Total inco 8502870 10371499 13283535 14390574 15553444
Total othe -5753448 -6029724 -6873833 -7468075 -8400810
1550006 1981011 Operating 2749422 4341775 6409702 6922499 7152634

743694 1097646
194317 576907
7288 1354
2495305 3656918
12255333 13455737

-7369672 -8285564
-98091 -110945
-312 -4301

-7468075 -8400810
4787258 5054927

4787258 5054927
-1893367 -1965617

2893891 3089310
Income Statement
2017 2018 2019
Profit Earned 10797894 14901469 26138948
Profit Expenses -4197721 -6778333 -15615070
Net Profit 6600173 8123136 10523878

Provision against non performing Islamic financing and -155601

Provision for diminution in the value of investment-net -30256
Provision and write off -221788 -721628
Bad debts written off
-185857 -221788 -721628
Net spread earned after provision 6414316 7901348 9802250
Other income
Fee commission and brokerage incone 1695661 1682033 1679676
Dividend income
Income (loss) from dealing in foreign currencies 128840 562923 709722
Gain on sales of securities 77722 367270
Other income 474 3407 2989
Total other income 1902697 2248363 2759657
Total income 8317013 10149711 12561907

Other expenses
Operating expenses -5942917 -6658707
Worker welfare fund -86568 -116083
Other charges -61291 -239 -99043
Administrative expense -5693223
Other reversal of provisions 1066
Total other expenses -5753448 -6029724 -6873833
2563565 4119987 5688074

Extra ordinary/unusual items

Profit before taxation 2563565 4119987 5688074
Taxation -961529 -1610722 -2342477
Current -870066
Prior year -61255
Deferred -30208

Profit after taxation 1602036 2509265 3345597

 Horizontal Analysis change
2020 2021 2017 2018 2019 2020
25981040 22754753 100% 38% 142% 141%
-14085771 -10858227 100% 61% 272% 236%
11895269 11896526 100% 23% 59% 80%

100% -100% -100% -100%

100% -100% -100% -100%
-2135241 -2097707 #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
-2135241 -2097707 100% 19% 288% 1049%
9760028 9798819 100% 23% 53% 52%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
1550006 1981011 100% -1% -1598500% -14565500%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
743694 1097646 100% 337% 451% 477%
194317 576907 100% -100% 373% 150%
7288 1354 100% 619% 531% 1438%
2495305 3656918 100% 18% 45% 31%
12255333 13455737 100% 22% 51% 47%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

-7369672 -8285564 #DIV/0! #DIV/0! #DIV/0! #DIV/0!
-98091 -110945 #DIV/0! #DIV/0! #DIV/0! #DIV/0!
-312 -4301 100% -100% 62% -99%
100% -100% -100% -100%
100% -100% -100% -100%
-7468075 -8400810 100% 5% 19% 30%
4787258 5054927 100% 61% 122% 87%

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

4787258 5054927 100% 61% 122% 87%
-1893367 -1965617 100% 68% 144% 97%
100% -100% -100% -100%
100% -100% -100% -100%
100% -100% -100% -100%

2893891 3089310 100% 57% 109% 81%

nge Vertical Analysis
2021 2017 2018 2019 2020 2021
111% 100% 100% 100% 100% 100%
159% -39% -45% -60% -54% -48%
80% 61% 55% 40% 46% 52%

-100% -1% 0% 0% 0% 0%
-100% 0% 0% 0% 0% 0%
#DIV/0! 0% -1% -3% -8% -9%
#DIV/0! 0% 0% 0% 0% 0%
1029% -2% -1% -3% -8% -9%
53% 59% 53% 38% 38% 43%
#DIV/0! 0% 0% 0% 0% 0%
28535000% 16% 11% 6% 6% 9%
#DIV/0! 0% 0% 0% 0% 0%
752% 1% 4% 3% 3% 5%
642% 1% 0% 1% 1% 3%
186% 0% 0% 0% 0% 0%
92% 18% 15% 11% 10% 16%
62% 77% 68% 48% 47% 59%

#DIV/0! 0% 0% 0% 0% 0%
#DIV/0! 0% -40% -25% -28% -36%
#DIV/0! 0% -1% 0% 0% 0%
-93% -1% 0% 0% 0% 0%
-100% -53% 0% 0% 0% 0%
-100% 0% 0% 0% 0% 0%
46% -53% -40% -26% -29% -37%
97% 24% 28% 22% 18% 22%

#DIV/0! 0% 0% 0% 0% 0%
97% 24% 28% 22% 18% 22%
104% -9% -11% -9% -7% -9%
-100% -8% 0% 0% 0% 0%
-100% -1% 0% 0% 0% 0%
-100% 0% 0% 0% 0% 0%

93% 15% 17% 13% 11% 14%

Years 2017 2018 2019 2020 2021
Net Income 1602036 2509265 3345597 2893891 3089310
Revenue 10797894 14901469 26138948 25981040 22754753
Gross Profit 6600173 8123136 10523878 11895269 11896526

Net profit margi 14.836559796 16.839044526 12.799279451 11.138472517 13.576548161

Gross profit Mar 61.124632266 54.512316873 40.261291311 45.784422025 52.281499166

Net profit margin Gross profit Mar

16 70
60
12 50
40
8 30
20
4
10
0 0
2017 2018 2019 2020 2021 2017 2018 2019

Net Profit Margin And Gross Profit

margin
70
61.12463226625
60 49 54.51231687292
50 04 52.28149916635
45.78442202467
40.26129131134 65
40
12
30

20 14.83655979582 16.83904452641
55 12.79927945072 11.13847251688 13.57654816116
10 69 62 88
15
0
2017 2018 2019 2020 2021
 Gross profit Margin

2018 2019 2020 2021

8149916635

7654816116
88

2021
 2017 2018 2019 2020
Assets
Cash and balance wit 10423998 17752920 19417428 19096891
Balance with other ba 1173267 1241840 1246953 3279935
Due from financial inst 4860272 4000000 5590405 2397516
Investments 1951350 0 7003086 0 15603668 0 3713712
221708 202834 11435 0
101625 4720923 120685 121069
522644 791554 14575099 775535
1105373 1287775 896449 2817108
Islamic financing and 66473862 0 83060970 0 101195935 0 116509729
8930055 16041288 16279678 14685814
18054237 28945607 24937462 33070940
18596532 24675539 38701150 45210374
20893038 13398536 21277645 23542601
Operating fixed asset 482731 0 358154 0 1050502 0 1081544
41223 25450 122139 132246
85605 90306 164482 177262
128408 101794 273824 292832
227495 140604 490057 479204
Intangible asset 0 0 66618 0 48639 0 82774
7088 6022 6932
14035 7734 13860
16123 13326 20791
29372 21557 41191
Deferred tax asset 71759 0 460313 0 0 0 0
5980 39095
11960 74407
17940 114763
35879 232048
Other assets 2681733 0 7275781 0 6492375 0 8103415
1253405 2729955 1533748 1720772
407122 2684255 2811432 2957920
876009 1705690 2052095 2823312
145197 155881 95100 601411
Total Assets 88118972 121219682 150645905 154265516
Liabilities
Bills payable 3677900 2811457 2972307 4246241
Due to financial institu 5255642 0 12670525 0 8897280 0 9902906
238150 4698416 2234917 657500
2611161 6005272 4912726 3438290
2406331 1966837 1749637 5807116

Deposits and other ac71757475 0 84569068 0 96577059 0 99579960

8436122 17538441 13753738 23550849
15407221 16349135 20366534 20038360
20787596 21213398 22464189 16404836
27126536 29468094 39992598 39585915
Sub-ordinate debt

Deferred tax liabilities 0 0 0 750167 0 353054

 63539 29985
122978 57069
186517 88022
377133 177978
Other liabilities 4611832 9585737 8566444 9771676
2475244 4452009 3549087 4920039
833976 2708417 2349316 2454598
864125 2046121 2038082 1856783
438487 379190 629959 540256
Total liabilities 85302849 0 109636787 0 117763257 0 123853837

2017 2018 2019 2020

Current Ratio= Current1.033013 1.1056478881 1.2792267201 1.245544908
Quick Ratio= Liquid As1.033013 1.1056478881 1.2792267201 1.245544908

As
Current Ratio= Current
Asset/Current Liabilities 350000000

300000000
1.4
1.2792267200961.245544907906
1.177865002885 250000000
1.2 57 24
1.105647888057 99
1.033013234997 87 200000000
1 58
150000000 12121
0.8
88118972
0.6 100000000

0.4 50000000
85302849 10963
0.2 0
0
2017 2018 2019 2020 2021
 2021

25761239
1363873
1031302
0 4954808
858894
120910
3315837
659167
0 125682036
19723305
37884987
38074473
29999271
0 1221910
143438
204602
326184
547686
0 102146
8585
17148
25733
50680
0 0

0 7992220
2045118
3150346
2593789
202967
168109534

0 7449011
0 20090152
4449856
9807690
5469182
363424
0 103778683
26168628
18122663
20869311
38618081

0 104792
 8900
16939
26126
52827
11301302
5479837
3659657
1660808
501000
0 142723940

2021
1.177865
1.177865

Assets vs liabilities
350000000

300000000

250000000

200000000

121219682 150645905 154265516 168109534

150000000
88118972
100000000

50000000
85302849 109636787
117763257
0 123853837 142723940
 2016 2017 2018 20149 2020 2021
Assets 152133399 182271523 231822753 264638618 303262163 351474159
Equity 12107335 14912171 16750174 22162634 24623698 27567059
Average of Asset 167202461 207047138 248230686 283950391 327368161
Average of Equity 13509753 15831172.5 19456404 23393166 26095378.5
Net Income 1602036 2509265 3345597 2893891 3089310

Return on Asset 0.00958141 0.01211929 0.01347777 0.01019154 0.00943681

Return on Equity 0.11858366 0.15850153 0.17195351 0.12370668 0.11838533

Return on Equity
0.2 0.016
0.18 0.0
0.014
0.16
0.14 0.012 0.00958141399
0.12 605356
0.01
0.1
0.08 0.008
0.06
0.006
0.04
0.02 0.004
0
2017 2018 20149 2020 2021 0.002
0
2017
 Return on Asset
0.016 0.01347777368
0.014 0.01211929333 16104
69598
0.012 0.00958141399 0.01019153731
3628 0.00943680653
0.01 605356 1714

0.008
0.006
0.004
0.002
0
2017 2018 20149 2020 2021
 Return on Asset
Dupont (Two Component) Analysis
Net Profit Margin Total Asset Turno
2017 2018 2019 2020 2021 2017 2018
Net Income 1602036 2509265 3345597 2893891 3089310 Revenue 10797894 14901469
Revenue 10797894 14901469 26138948 25981040 22754753 Total Average As167202461 207047138
15% 17% 13% 11% 14% 6% 7%
4 component dupont analysis

Operating Profit Margin

2017 2018 2019 2020 2021
Operating Income 2749422 4341775 6409702 6922499 7152634
Revenue 10797894 14901469 26138948 25981040 22754753
0.254626 0.291366 0.245217 0.266444 0.314336

Effect on non-operating
2017 2018 2019 2020 2021
Income Before Ta 2563565 4119987 5688074 4787258 5054927
Operating Income 2749422 4341775 6409702 6922499 7152634
0.932401 0.948918 0.887416 0.691551 0.706722

Tax Effect
2017 2018 2019 2020 2021
Tax 961529 1610722 2342477 1893367 1965617
Income Before Ta 2563565 4119987 5688074 4787258 5054927
0.375075 0.390953 0.411823 0.395501 0.388852
1-(tax/Income befo0.624925 0.609047 0.588177 0.604499 0.611148
Total Asset Turnover Net Profit Margin
2019 2020 2021 2017 2018 2019 2020
26138948 25981040 22754753 Net Income 1602036 2509265 3345597 2893891
248230686 283950391 327368161 Revenue 10797894 14901469 26138948 25981040
11% 9% 7% 0.1483656 0.16839 0.1279928 0.11138473

Operating Proft Margin

2017 2018 2019 2020
Operating Inc 2749422 4341775 6409702 6922499
Revenue 10797894 14901469 26138948 25981040
0.25462576 0.291366 0.2452165 0.26644426

Effect on non-operating
2017 2018 2019 2020
Income Before 2563565 4119987 5688074 4787258
Operating Inc 2749422 4341775 6409702 6922499
0.93240143 0.948918 0.8874163 0.69155055

Tax Effect
2017 2018 2019 2020
Tax 961529 1610722 2342477 1893367
Income Before 2563565 4119987 5688074 4787258
0.37507494 0.390953 0.4118225 0.39550135
1-(tax/Income 0.62492506 0.609047 0.5881775 0.60449865
 Return on Equity
Three component
Assets Turnover
2021 2017 2018 2019 2020 2021
3089310 Revenue 10797894 14901469 26138948 25981040 22754753
22754753 Total Aver 1.67E+08 2.07E+08 2.48E+08 2.84E+08 3.27E+08
0.135765 0.06458 0.071971 0.105301 0.091499 0.069508

argin
2021
7152634
22754753
0.314336

ating
2021
5054927
7152634
0.706722

2021
1965617
5054927
0.388852
0.611148
e component
Financial Leverage
2017 2018 2019 2020 2021
Total Aver 167202461 207047138 248230686 283950391 327368161
Total Avera 13509753 15831173 19456404 23393166 26095379
12.3764262 13.0784458 12.758302 12.1381771 12.545062519