Bank

Presently Bank

and Furthermore,
extending credit
CO NT E NT S

08 Letter of Transmittal

th
Notice of the 9
09 Annual General Meeting

12 Corporate Profile

14 Mission

14 Vision

15 Strategic Objectives

15 Core Values

16 Code of Conduct

17 Forward Looking Statement

18 Chronicles

22 Chairman's Message
 Words from the
24 Managing Director & CEO 112 Corporate Governance
Report to the Shareholders

28 Board of Directors’ Profile 150 Risk Management Report

Market Disclosure Pillar III

35 Sponsors 158 of Basel-2021

42 Board Sub Committee 170 Responsibility Statement

of MD and CFO

47 Executive
Independent Auditors’
173 Report to the Shareholders of
NRB Commercial Bank Limited
50 Heads of Branches

Key Performance
60 Indicator (KPI) Independent Auditor’s

Horizontal and
288 Report to the Shareholders of
NRBC Bank Securities Limited
67 Vertical Analysis

72 Directors’ Report
315 Proxy Form

108 Audit Committee Report

to the Shareholders

110 Credit Ratings

LETTER
OF TRANSMITTAL

To
All Shareholders of NRB Commercial Bank Limited
Bangladesh Bank
Bangladesh Securities and Exchange Commission
Registrar of Joint Stock Companies & Firms
Dhaka Stock Exchange Limited
Chittagong Stock Exchange PLC and
All other stakeholders

Subject: Annual Report for the year ended December 31, 2021.

Dear Sir(s),
We are pleased to enclose a copy of the Annual Report of NRB Commercial Bank Limited together with the Audited Financial
Statements as at December 31, 2021 for kind information and record.
The Report includes consolidated Balance Sheet, Income Statement, Cash Flow Statement, Statement of Changes in Equity,
Liquidity Statement along with Notes thereon and Directors’ Report of NRBC Bank for the year ended December 31, 2021.

Thanking you.

Sincerely yours,

Md. Reaz Uddin Asif

Company Secretary

08
 Corporate Head Office, 114, Motijheel, C/A, Dhaka-1000.
Phone:+880-2-223353422-30
Email: [email protected]
Website: www.nrbcommercialbank.com

NOTICE OF THE 9TH ANNUAL GENERAL MEETING

Notice is hereby given that the 9th Annual General Meeting (AGM) of NRB Commercial Bank Limited will be held on June 02 (Thursday), 2022 at 11.00
AM (BST) virtually by using Digital Platform through the link https://nrbcbank.bdvirtualagm.com to transact the following business:

AGENDA
1. To receive, consider and adopt the Audited Financial Statements of the Bank for the year ended December 31, 2021 and the reports of the Auditors
and Directors’ thereon;
2. To declare dividend for the year ended December 31, 2021;
3. To elect/re-elect Directors of the Bank;
4. To appoint/reappoint Auditors for the Bank for the term until next AGM & fix their remuneration for the year 2022;
5. To appoint compliance Auditors for the year 2022 for Compliance Certification on Corporate Governance Code and fix their remuneration;
6. To consider any other relevant business with the permission of the Chair.
By order of the Board.

Md. Reaz Uddin Asif

Dated: May 12, 2022. Company Secretary

NOTES.
i) The Record Date: May 11, 2022 (Wednesday).
The Shareholders whose names appear in the Members Register of the Bank under Central Depository Bangladesh Limited (CDBL) on the Record
Date i.e. 11-05-2022 will be eligible to attend the 9th AGM and would be qualified to receive Cash Dividend (if approved) for the year 2021. (It is
mentionable that Stock Dividend is subject to approval of Shareholders in the 9th AGM and subsequent approval of the Bangladesh Securities &
Exchange Commission (BSEC). The Record Date for entitlement of Stock Dividend (Bonus Shares) will be notified later as per Notification No.
BSEC/CMRRCD/2009-193/23/Admin/123, dated: June 30, 2021 upon receipt of consent from Bangladesh Securities and Exchange Commission.)
ii) The Board of Directors recommended 15% Dividend (Cash 7.50% and Stock 7.50%) for the year ended December 31, 2021.
iii) A member eligible to attend the Annual General Meeting (AGM) may appoint a proxy to attend and vote on his/her behalf. The Proxy Form, duly
filled, signed and stamped at BDT 20 must be sent through email to the Share Department of the Company at [email protected]
at least 72 hours before commencement of the AGM.
iv) The soft copy of the Annual Report 2021 of the Bank (NRBC Bank Limited) will be sent to the email addresses of the Members available in their
Beneficiary Owner (BO) accounts maintained with the Depository as per BSEC Notification No. BSEC/CMRRCD/2006-158/208/Admin/81 dated
20 June 2018. The Annual Report 2021 will also be available on the website of the Bank www.nrbcommercialbank.com within the stipulated
time.
v) The detailed procedures to participate in the virtual meeting and Frequently Asked Questions (FAQs) are/shall be published on the Investor
Relations’ section of the Company’s website at www.nrbcommercialbank.com
vi) Concerned Depository participants (DP)/Stock Brokers are requested to provide us with a list of their margin loan holders who hold NRBC Bank
shares, as on record date with the details of the shareholders’ name, BO ID, shareholding position, cash dividend receivable, tax rate etc. within
19/05/2022 along with the name of the contact person to the Share Department of the Company and also soft copy of the same at
[email protected] otherwise dividends will be paid to bank accounts of the members whose name would appear on the ‘Record
Date’. The DP/Stock Brokers are requested to provide us with their Bank Account name & number, routing number etc. to mentioned email
address for receiving the dividends of their margin loan holders.
vii) The members will be able to submit questions/comments and vote electronically 36 hours before commencement of the AGM and during the
AGM.
viii) The online (real time) or e-voting option shall be opened 36 hours prior to start of general meeting and shall remain open up to closure of general
meeting.

09
CORPORATE PROFILE
Facts & Figure
as on 31 December 2021
Name of the Company
NRB Commercial Bank Limited

Registered Office
Red Crescent Jashim Trade Centre
114 Motijheel C/A
Dhaka-1000, Bangladesh
Phone : 880-02-9573422-30
Fax: 880-02-9573421
Swift Code: NRBB BDDH
Email: [email protected]
www.nrbcommercialbank.com

Legal Form
Public Limited Company

Date of Incorporation
February 20, 2013

Formal Inauguration
April 2, 2013

Core Banking Segment

Conventional and Islamic Banking

Islamic Banking Window

Bangladesh Bank Approval: November 14, 2019
Inauguration: January 20, 2020

Offshore Banking Unit

Bangladesh Bank Approval: September 22, 2020
Inauguration: February 07, 2021

Agent Banking
Bangladesh Bank Approval: May 29, 2014
Inauguration: December 17, 2015
Agent Point: 571 Agent Points

Name of NRBC Bank’s Subsidiary

NRBC Bank Securities Limited
Incorporation: September 20, 2015
Registered Office: 114 Motijheel C/A, Dhaka-1000

Chairman
Mr. S M Parvez Tamal

Vice Chairman
Mr. Rafikul Islam Mia Arzoo

Chairman –Executive Committee

Mr. Mohammed Adnan Imam FCCA
Chairman – Risk Management Committee Loans & advances
Mr. Abu Mohammad Saidur Rahman Tk. 105,490.58 Million
Reserves
Chairman – Audit Committee
Tk. 2,556.50 Million
Air Chief Marshal Abu Esrar (Retd.)
Employees
Managing Director & CEO No. of Official: 3,643
Golam Awlia
No. of Staff: 53

Company Secretary Return on Investment/Equity (ROI/ROE)

Mr. Md. Reaz Uddin Asif 20.83%

Chief Anti Money Launder Officer Return on Asset (ROA)

Mr. Kabir Ahmed 1.68%

Chief Risk Officer Capital to Risk Weighted Assets Ratio (CRAR)

Mr. Kabir Ahmed 13.58% (Consolidated)

Chief Financial Officer Earnings per Share

Mr. Harunur Rashid Tk. 3.07 (Consolidated)

Publication Total Nostro Account: 21

Annual Report-2021
Number of Internet Banking Transactions: 15,244
Auditors
Howladar Yunus & Co. Value of Internet Banking Transactions
Chartered Accountants TK. 523.70 Million

K. M. Hasan & Co. Network

Chartered Accountants
• Number of Branches: 93
• Number of Sub-branches: 214
Tax Consultants
K M Hasan & Associates • Partnership Sub-Branches: 131
Chartered Accountants • Land Registration Sub-branches: 287
• Foreign remittance Sub-agencies: 9
Credit Rating Agency
Emerging Credit Rating Ltd. Total ATM : 69
Total RMA: 171 FIs across the globe at home and abroad
Authorized Capital
Tk. 10,000 Million IPO Approval Date by SEC
November 18, 2020
Capital
Tk. 16,335.65 Million Date of IPO Subscription
February 03, 2021
Paid-up Capital
TK 7376.43 Million [7929.66 Million If Stock Dividend Date of publication of Prospectus
@7.5% is approved by Shareholders in 9th AGM] January 06, 2021

Listing with stock Exchange

Net Asset Value
DSE on March 10, 2021
Tk. 11,989.74 Million
CSE on March 10, 2021
Net Asset Value per Share Date of first share trading in stock market
Tk. 16.25 Per Share March 22, 2021

Net Operating Cash flow per share Share Price as of December 31, 2021
Tk. (0.89) Per Share Tk. 26.22

Total Assets Share Price Range over the year

Tk. 154,437.41 Million Tk. 11.00 ~ Tk.40.80

13
MISSION

The bank shall devote in creating confidence for

investment among the Bangladeshi expatriates offering
them desired services, attractive profitability and
secured investment through our various financial
products.
The bank shall create extra-ordinary opportunities to
VISION
the intending wage earners in getting jobs abroad
through our dependable and reliable intermediary
services.
The bank shall arrange need based effective training
and education programme for the intending FC wage To become a peerless bank in terms of
earners of Bangladesh to survive against competitors of providing efficient & innovative banking
other countries. services, safeguarding depositor’s interest,
fulfilling shareholders desire, supporting
The bank shall deliver service excellence through economic growth of the country with
providing existing & innovative products in cost & time particular attention to channelize regular
efficient manner, to its all retail & corporate customers. inflow of foreign remittance of Bangladeshi
The bank shall constantly focus and monitor the expatriates working abroad and also the
changing needs and aspirations of its customers, to inflow of idle and less remunerative fund
develop new and reengineer the process of service held with wealthy NRBs.
delivery.
The bank shall always be vigilant to maintain banking
business risks within its tolerable limit in order to
protect depositor’s interest and ensure highest return
to the shareholders.
The bank shall be the forerunner in exploiting new
sources of fund such as assets securitization, issuance
of mutual fund etc., for addressing the needs of newly
emerged financing areas such as SME financing,
factoring, micro finance, IT based products, housing
financing etc. with a view to furthering the economic
growth of the country.
The bank shall create an enabling environment, adopt
and nurture carefully a team-based culture where
people will be motivated to accept banking challenges
and to face other competitors.

14
 CORE
VALUES
S T R AT E G I C
Corporate Governance/Responsibility:
Conducting all business affairs in
OBJECTIVES
compliance with regulatory rules.
Creativity: Believing & practicing a culture
with the motto of ‘Customer comes first’,
thus making customer oriented products Create opportunities for NRBs to invest their earnings, utilize their
and services by placing customer interest professional expertise towards development of Bangladesh.
and satisfaction as first priority Channelize idle and less remunerative fund of NRB’s.
Humanity: Enable humanity through Attract FDI of NRB’s through diverse products and projects.
banking by financially enabling mass
people with affordable, accessible and Balanced and sustainable growth.
relevant financial products and services. Value maximization for our shareholders and stakeholders.
Trustworthy: Always care and share the Accomplish the long cherished desire and dream of NRB’s to have a
views and knowledge with all Bank which they can call their ‘own’.
stakeholders and believe in both way
communications. Excellence of manpower efficiency through attractive
compensation package, promoting staff moral through training,
Integrity: Maintaining complete development and career plan.
transparency in dealings and high ethical
standard. Transfer technology with the help of the well educated
professionals and experienced sponsors of the bank to have a
Sustainability: Creating sustainable green banking practice.
economic value for our shareholders,
Customers, employees, and community Ensure best Corporate Social Responsibility (CSR) practice.
by utilizing an honest and efficient Promise to make the world of NRBC Bank a little bigger, everyday.
business methodology.
Emphasis in cross boarder transaction through OBU with having
Working Environment: Ensuring higher diversified portfolio in the foreign trade basket.
degree of motivation and dignified
working environment for human capital Create a banking network where the rural people of every remote
and respect optimal life balance. corner of the country will have an access to banking facility

Nature and the Environment: Committed Upholding and instilling compliance culture and good governance
to shield the environment and go green practices.
by ensuring the use of modern Microfinance initiative with vibrate partner for extending credit
technology. facilities to the unemployed or low-income individuals or groups to
uplift their financial position as well as access to financial services.

15
 CODE OF CONDUCT
NRBC Bank shall maintain a pleasant working environment in its
organization in terms of presence of well set and well defined
compensation package, clearly set goal orientation, as well as
performance-led job description for employees of all levels. Salient
features of NRBC Bank Code of conduct are given below:
At all times the stakeholders of NRBC Bank shall act in a
professional and ethical way and uphold the highest
standards of honesty, trust, fairness, integrity and
diligence;
Every stakeholder shall consider the risks and
implications of their actions and in principle, should feel
accountable for them and for the potential adverse
impacts;
All in NRBC Bank shall take firm promise to comply with
all current regulatory and legal requirements and adopt
endeavor to follow best industry practices;
All information be used and handled with best care and
due diligence be applied to ensure highest
confidentiality and preserving sensitivity;

Prevent and avoid potential conflict of interest that may Code of

arise and influence one while he/she performs;
Conduct
Serve customers, colleagues and counter parties with
due care. Respect their desires and serve them with
responsibility if they asked for, or help them voluntarily;
Set the service standard for the organization that
reflects professionalism and also expresses values and
attitudes, as well as positive attitude;
Equip employees to carry out their duties with due
regards to the technical and professional standards
expected by qualified customers. Encourage the staffs
continuously to develop and maintain their technical
Train and encourage the staff/officials to act with and professional knowledge and level of competence;
complete integrity towards customers, colleagues,
counter parties and others with whom they may come
into contact.
The ethical conduct of all employees of NRBC Bank and the reputation
of the profession depend largely on their approaches and attitudes at all
levels. Standards of integrity, ethics and professionalism cannot be
created or maintained by written rules alone, rather this depends upon
the integrity and behavior of those engaged as professionals in the
industry. Thus the responsibility of the bank is to adopt and uphold
integrity and professional ethics in all of its units and service standards.

16
FORWARD LOOKING
STATEMENT l Reducing Cost of Deposit (CoD), by mobilizing Low Cost/Cost
Effective Deposit by rearranging of existing deposit mix of the bank
l Mitigating credit risk through addressing of proper policy, guidelines,
assessment, risk analysis and documentation
l Keeping Non Performing Loan (NPL) at an acceptable/tolerable range
Industry forward-looking statement includes projections of financial l Extending the banking facilities to unbanked people through banking
matters, as well as certain conditions and changes that might impact on networks, i.e Branches, Sub Branches, Partnership Banking, Banking
business. Forward looking statements, which are based on external Booths, Collection booths & Land Registration Booths.
factors, future events and outcomes. These assumptions are l Providing banking services to the stakeholders through state of the
constructed based on the expectation, judgment, aspects, and art technology
opportunities. Our forward-looking statement of Annual Report 2021
l Diversifying investment in different assets to minimize investment
has involved numerous assumptions, inherent risks and uncertainties,
risk
both general and specific as well as predictions. These factors include,
but are not limited to, volatility of profit rates, capital markets l Maintaining strict compliance with the sustainability as well as the
instability, changes for CRR and SLR norm, changes in corporate environmental issues and good governance to ensure long term
taxation, changes in national political and socio-economic conditions, sustainability of the bank
changes in government policies and unpredictable COVID-19 situation l Be a bank that will ensure that even the further most rural people of
etc. As there are uncertainties about the occurrence of the future Bangladesh will have the banking facility at their doorstep.
outcomes, these statements are valid only for the date of publication. l Fund transferring & bill payment in digitalized manner through
“PLANET” application.
NRBC is a fourth generation Bank, has already created a positive mind
l Automation of all scale of Credit processing and its administration.
share of the customers in this turbulent market. Along with the existing
competition in the banking industry of Bangladesh, Bank is looking l Expanding the Land Registration Booth network in all the
forwarding for expansionary monitory policy after COVID shock in the Government Offices so that fees can be collected in clean & tidy
year 2022. At the same time, Bank is concentrated good capital base and manner.
a sustainable profitability having with prudent investment. To be one of l Capturing the opportunity to find innovative ways to help businesses
the most valuable brands in the financial market of Bangladesh and to rebuild by taking opportunity of credit demand after Covid-19 with
create a long-lasting value for our stakeholders, the Bank will focus on critical analysis of risk management that’s to be ensure sustainable
the following issues in the subsequent years: bank.

17
18
 NRBC Bank-New Arena of
Micro Finance in Banking Industry

Establishment huge network of

725 service points comprising
of 93 Branches, 214 Sub-Branches,
131 Partnership Sub-Branches,
287 Land Registration
Sub-Branches and 9 Foreign
remittance Sub-Agencies

19
's

22
Dear Fellow Shareholders disbursed micro-credit over BDT 500 crore to more than 15,000
customers. Our purpose is empowering people to stay a step ahead in life
On behalf of the Board of Directors of NRB Commercial Bank Limited, I and in business.
hereby present to you the Annual Report of the Bank. This report is
intended to inform all stakeholders a balanced overview of our activities NRBC Bank was one of the few banks in the country which stood beside
and NRBCB’s ability to create and sustain value. Let us go now reflecting the people and the government during its hour of need of pandemic
on the days that are behind us and how we fared in the preceding year phase. The Bank played a pivotal role during the period through
while sharing our collective optimism for the days to come. multifaceted development works including introduction of NRBC Bank
Health-Desk with hotline 16413, numerous donations of protective
Before we move further, let me express my humble gratitude to the equipment to hospitals and medical centers across the nation. Due to its
Almighty for allowing me to carry on the responsibility assigned by the various social development works, NRBC Bank was praised as
honorable Members of the Board and as entrusted by all honorable “humanitarian bank” across the national media which is a great
Sponsors and Shareholders. After facing a difficult year in 2020 due to testament to our collective efforts to uplift the nation in its most dire time.
COVID-19 global pandemic, we had to endure a challenging economic
scenario throughout the year 2021. However, it gives me a great sense of Our focus on digital banking and implementation of MFS paving way to
accomplishment that we weathered the storm as a collective force and accessing mobile banking and banking services from the palms of
now we are offing towards further goals to touch new height. customers’ hands. We designed and launched our very own PLANET
mobile banking app, through which we vowed to make banking easier
Since its inception back in 2013 with the hands of 53 Honorable Sponsors and hassle free for our customers.
from around the world, NRBC Bank had to walk a long path to establish
itself as one of the fastest growing banks in Bangladesh with innovative Amidst the economic uncertainty during the COVID 19 pandemic, NRBC
banking services. The Bank transitioned itself toward becoming a bank Bank played a groundbreaking role through proper utilization and
for the masses as it opened new doors when it became listed with Dhaka growth of manpower. So far, we are nearing the six thousand
Stock Exchange and Chittagong Stock Exchange on March 22, 2021. employment mark containing contractual and permanent manpower.
Having been listed as a bank-company, our duties and responsibilities to Meanwhile, we are also focused on increasing equal working
the nation have grown exponentially. Thus we have increased our focus opportunity for both men and women, which is evident in our increased
on corporate governance and compliance all the while bringing good women participation rate in active employment. We pride ourselves that
business into the Bank more than ever before in the past year. Today, our we have been fortunate to be able to provide employments to such a
Bank has become a role model to peer banks making unprecedented great number of people who are searching for a way to make their living
progress in every financial index in the last few years. while contributing to the national economy. It is my pleasure to inform
you all that now more than ever before, the whole of NRBC Bank works as
2021 was the year when we had undertaken multifarious time bound a combined unit. The employees of the Bank work with unparalleled
actions to face off challenges of national and global economy that sense of integrity, morality, trust, diligence and utilize our positive energy
surfaced as the aftermath of pandemic. We are proud to assert that we for organizing an effective team. We believe that this team will be
have overcome effects of pandemic successfully due to the far-sighted engaged with full force to keep up the commitment to provide the best
governance of the Board of Directors and the hard work of the entirety of service to the customers in the coming days as well.
the Management and employees of the Bank. With single-digit cap on
loans and advances, one of our major concerns was to decrease the cost Our NRBC prides itself by maintaining corporate governance and
of fund while maximizing spread. In this regard, our Management gave compliance without compromise. The Board of Directors along with the
careful consideration on improving the return on investment while Management shows zero tolerance regarding compliance and corporate
minimizing cost at every level under the directives of the Board of governance. It is our mission to pursue the objectives with utmost
Directors. Further, we gave enhanced concentration on reducing non- dedication and sincerity.
performing loans (NPL), nursing weak loans and improving Bank’s
As I come to close of this statement, I once again extend my sincerest
liquidity position, among others.
thanks and gratitude to our dynamic Board of Directors for their valuable
From the early stages since taking charge of this bank as Chairman of the insights and guidance. My deepest gratitude goes to all regulators
Board of Directors, it was one of my primary goals to expand NRBC Bank’s especially Bangladesh Bank, Bangladesh Securities and Exchange
service points among the unbanked population. For this, we had to take a Commission, Registrar of Joint Stock Companies & Firms, Large Taxpayers
gradual shift from traditional branch-based banking toward sub-branch Unit and external auditors. I am also grateful to the Management and
and service point based cost-effective solutions. The actualization of the employees for their passion, dedication and efforts to attain corporate
vision we had for our Bank was largely dependent on the nationwide vision, mission and strategic objective and at the same time for ensuring
network of the Branches, Sub-Branches, Banking Booths, BRTA Collection our core value remain unwavering.
Booths, Land Registration Fee Collection Booths and ATMs. As of
December 31, 2021, our total number of service points stood at 958 Thank you all for keeping your trust in NRB Commercial Bank Limited.
through which we take banking services to the doorsteps of our customers
in all possible means. While NRBC Bank’s service network is expanding, we May the Almighty help and guide us toward success in the years to come.
are keeping eye on our existing service points to ensure quality service
through our capable management team and dedicated employees.
One of our breakthroughs in providing banking services to the people
living on the edge of the society was NRBC Bank’s partnership in
providing micro-credit. We have launched microcredit based banking
services to alleviate poverty, create employment and ensure technology S M Parvez Tamal
based services in the villages of Bangladesh. So far, we had already Chairman

23
 Words from the Managing Director & CEO

Dear Shareholders
As we are offing to the first decade of NRB Commercial Bank Limited, we pandemic. According to Bangladesh Bank’s Monetary Policy,
open doors to new plans and renewed our strategies for onward progress. Government tends to continue ongoing expansionary and
2021 was a year when NRB Commercial Bank Limited reaffirmed the place accommodative mode supporting the disrupted economic recovery
in Banking Sector as we assist clients and customers to coup up with process while maintaining appropriate cautions for overall price and
impacts of economic uncertainty, prolonged lockdown, inflationary financial stability for the FY22. One of the primary challenges in the post-
pressures and short & long term liquidity issues as COVID-19 barreled pandemic period shall be the restoration of full normalcy in livelihood
along an unpredictable path. We wanted to see an actualization of our and extending required flow of fund to the intended production
missions and goals we set earlier, to reach a point where we could pursuits. Credit growth is predicted in both private and public sectors in
redesign the insight of organization for the better to which something that
the year 2022 while the government stimulus packages which were
our peers would look up to. We redefined our strategy that would drive
disbursed earlier through the commercial banks to various sectors
sustainable growth while not compromising corporate governance and
during pandemic period as well as stagnant local and global economy
compliance. We wanted to venture into new client segments while
shall be monitored to maximize its impact. Bangladesh Bank is likely to
maintaining and deepening our relationships with the existing client base.
adopt all possible policy options for encouraging new entrepreneurs and
for generating new employment opportunities including giving more
However, as we ponder upon how well we fared in the year before,
focus on micro, small and labor intensive medium enterprises;
showing resilience and excellence in every sphere that mattered for the
permitting banks and financial institutions for opening technology
bank to shine, we stand before you all for another year to give you an
driven sub-branch in the rural remote areas engaging minimal
account of the progress of NRBC all the while talk of the future and what
it holds for us in the days that await us. workforce, among others.

We hope to have you with us in every step of the way in our pursuit of Reminiscing 2021
continuous progress like you all did the years before. NRBC Bank has grown exponentially in different quarters throughout the
year 2021. By the end of the year, the Balance Sheet size stood at
Economic Overview Tk.15,295.76 cr. By 2021, our operating profit was Tk.40,544.61 Lac
The national economy has attained around 6.1 percent GDP growth in which is 32.15% growth from the last year. Deposits were
FY21, significantly higher than last year's estimated growth of 5.2 Tk.12,08,267.81 Lac and Loans & Advances were Tk.10,48,983.13 Lac for
percent despite the economic shocks owing to the aftermath of covid-19 the year 2021. Our deposits and advances have grown by 26.77% and

24
40.17% compared to the position of 2020 which shows substantial in the name of: NRBC Deshgori, NRBC Karigor, NRBC Sonalidin, NRBC
growth despite the challenging economic trend. Besides, Loans and Sopnonir, NRBC Probashir Shasti, NRBC Proyojon. NRBC has played a
advances disbursed to more than 15,000 customers through service pivotal role in the movement of microcredit by disbursing loan in single
points across the country. In terms of service accessibility, there are 131 digit and it has made a good demand especially to those customers who
partner banking centers with SKS Foundation, the largest NGO in North usually borrow loan from NGOs at higher rate of interest. To accelerate
Bengal. Our Export Business were Tk. 3065.22 cr. while our import this microfinance banking services among unprivileged people of the
business were Tk. 4237.07 cr in 2021. We have remarkable growth by country, the bank signed a Memorandum of Understanding (MOU) with
164.60% in remittance business compared to 2020 which is a testament a renowned local NGO, SKS Foundation and introduced “Partnership
of our efficient business development plan. By the end of 2021, Bank’s Banking Model” in the name of SKS-NRBC Partnership Program. Already
Capital Adequacy Ratio (CAR) stood at 13.45%. 131 Partnership Sub-Branches have started full fledged banking services
focused on microcredit financing.
However, the year 2021 was also about growth in non-business
activities and various development works for the Bank. NRBC Bank took Towards SME & Agriculture
a long stride through comprehensive development works that include
SMEs are a primary driver for job creation as well as GDP growth. This
introduction of NRBC Bank Health-Desk, donations of protective
sector contributes to economic mobilization, business diversification,
equipment to hospitals and medical centers across the nation during
employment generation and also has an important role in private sector
the COVID-19 pandemic periods under the guidance of our competent
development. SMEs typically face more severe constraints than large
Board of Directors and visionary leader Mr. S M Parvez Tamal, the
companies. NRBC Bank always emphasizes to ensure customer services
Chairman of the Board.
in most efficient manner. From inception, the Bank is much caring on
SME finance. To encourage the SME finance, Bank has refinance
Creating Job opportunity agreement with Bangladesh Bank under the schemes of SME refinance
Through proper utilization and growth of manpower, NRBC Bank is including Woman Entrepreneurship refinance under SME Finance. In
playing a groundbreaking role in solving the unemployment problem of 2021 total disbursement amount in SME sector was Tk.4599.14 crore
the country. The increasing rate of manpower is tenfold in last four wherein the number of new entrepreneurs was 2287. To provide service
years. The number of employees in the service of NRBC Bank is to the women entrepreneurs, the Bank has initiated to establish
presently around 5,907 out of which 2,161 are permanent and 3,746 are “Women Entrepreneur Desk” at Branch level. In order to contribute in
contractual manpower. In terms of women empowerment, NRBC Bank agricultural sector last year NRBC disbursed an amount of Tk.123.80
has also played an important role by increasing employment rate of crore among 134 entrepreneurs.
women from 3% to 36% since 2017. This is a landmark step in the
banking sector of Bangladesh. Commitment towards Society
NRBC Bank has established CSR policies focusing on Conducting
Micro Credit Finance
business in an ethical way, creating opportunities for business and
NRBC Bank Ltd. introduced Micro Finance Program on November 2020 to economic development, empowering people to fulfill their aspirations,
extend small loans to the unbanked people for the purpose of developing ensuring protection of environment while financing businesses and
them as self-reliant who ultimately help to increase per capita income as supporting the distressed people of the society. In order to ensure a
well as GDP of our country. The progress of the microfinance operations meaningful and measurable impact in the lives of economically,
has been gradually increasing through launching Micro Credit Programs physically and socially challenged communities NRBC contributed a
significant amount of last year among individuals and organizations.

140.00 Concluding words

120.00 SKS-NRBC 2021 ended on a high note due to the actualization of our collective
Partnership determination and focus, well articulated goals and proper
100.00 Barnch implementation. Our hard work paid off by creating a harmonious
Amount in Crore

culture for all and based on a well-executed corporate governance. We

80.00
NRBC Barnch have firm belief in our mission of sustainable growth and progress. We
60.00 following shall continue to be true to our values as we serve our clients. We are
Partnership committed to continue steady progress in the days ahead.
40.00 Banking Model
NRBC Barnch
20.00
following NRBC
0.00
Microcredit
Model
21

21

21

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21

22
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Ap

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Month
Golam Awlia
Micro Finance Disbursement Trend Managing Director & CEO

25
Mr. S M Parvez Tamal Mr. Rafikul Islam Mia Arzoo
Chairman, Board of Directors Vice Chairman

A qualified engineer, successful entrepreneur, philanthropist Mr. Rafikul Islam Mia Arzoo was born in Rajbari, Bangladesh. He
and a visionary, Mr. Parvez Tamal is a young entrepreneur from is a Russian citizen. He passed HSC from Notre Dame College in
Bangladesh who is also a citizen of Russian Federation. He comes 1981. He did his M.Sc in electrical engineering from Georgian
from a valiant freedom fighter family that is also renowned for its Technical University in 1988. He is a successful businessman
academic excellence. He is also the President of Russia having business in Finance, real-estate, dry-cleaning service.
Bangladesh Chamber of Commerce and industry, the General
Secretary of Bangabandhu Parishad, Russia and Member of the He is a CIP. He is involved in different philanthropic activities. He
General Body of Federation of Bangladesh Chambers of has been running a college, Kolimohar Mahabiddalaya (EIIN #
Commerce and industries (FBCCi). 113423) in his village Kolimohar, Pangsha, Rajbari established in
2000. Mr. Arzoo is married and a proud father of two daughters
Born on July 8, 1971, Mr. Tamal pursued Masters in information and a son.
Technology and Statistics from Moscow State University of
Economics, Statistics and Informatics (MESI). He established
business in Finland as a logistic hub, after that invested in real
estate and other areas. He completed different courses as
Business professional from the academy e.g. HP, Microsoft, IBM,
CISCO. From 2009, he started merging with Oldi Group which is
the market leader of whole IT sector in Russia.

Mr. Tamal is engaged in IT distribution, real estate Holdings,

Manufacturing of Household Product & Logistic consultations in
Russia. He is also engaged in other companies in EU and Russia
related to manufacturing, branding of different products and
real estate business.

28
Mr. Mohammed Adnan Imam, FCCA Air Chief Marshal Abu Esrar, BBP; ndc (Retd)
Director & Chairman, Executive Committee Independent Director & Chairman, Audit committee

Mr. Mohammed Adnan Imam, a UK Citizen and CIP (NRB), Air Chief Marshal Abu Esrar, BBP; ndc (Retd), has joined as an
residing in London is a Fellow Chartered Certified Accountant Independent Director of NRBC Bank Limited. He served
(FCCA). Having a successful career in Finance and investment Bangladesh Air Force for almost 40 years. During his illustrious
Banking with world renowned Merrill Lynch Europe Plc. He is the career in BAF, he assumed the highest position of Bangladesh Air
Managing Director of IPE Group – which is involved in real estate Force as Chief of Air Staff. Before that he served as the Assistant
and Private equity in London and Dhaka, Technology and Chief of Air Staff at Air Headquarters and also commanded
Outsourcing, Textiles, RMG and Finance. number of Bases of Bangladesh Air Force. He also served as
Defense Attaché at Embassy of Bangladesh in Russia. He was a
Distinguished Graduate from Air Command and Staff College, Air
University, USA in 1993-1994. He completed NDC course from
National Defence College, Mirpur in 2002. During his glorious
career, he earned many awards from home and abroad. he was
awarded ‘King Fahad Merit of Excellence Medal’ from His
Majesties King of KSA in 2017. He was also included in the
‘International Honour Roll’ of the Air University, Alabama, USA in
2016. Air Chief Marshal Abu Esrar was awarded prestigious
Biman Bahini Padak (BBP) of Bangladesh Air Force in 2013 for his
outstanding contribution to BAF.

29
Mr. Abu Mohammad Saidur Rahman Mr. Mohammed Oliur Rahman
Director & Chairman, Risk Management Committee Director

Bir Muktizoddah, Mr. Abu Mohammad Saidur Rahman, a Mr. Mohammed Oliur Rahman is a permanent resident of Dubai,
resident of United Arab Emirates, was born in February, 1951 in UAE and is engaged in the business of retail, wholesales & export
Barisal. He possesses an excellent academic background and of Fragrance, Perfumery, Cosmetic products & Accessories in the
completed his Hon’s degree in 1972 and obtained his Masters names and styles of Al Haramain Trading LLC, Dubai, UAE, Al
degree in Mathematics with distinction in 1974 from the Haramain Perfumes MFG & OUDH Processing Industry LLC,
University of Dhaka. He was a resident student of Sgt. Jahurul Ajman, UAE, Al Haramain Perfumes LLC, Dubai, UAE, Best in
Huq Hall and actively participated in the student movements Fragrance, Hilton Tower, Makkah, KSA, Noor Al Haramain LLC,
and mass revolution in 1969 and joined the liberation war of Dubai, UAE and Al Haramain Hospital Pvt. Ltd., Sylhet,
1971. Mr. Rahman joined the Bangladesh Civil Service in 1977 Bangladesh.
and performed diverse activities in the development and
regulatory Ministries viz. Planning, Agriculture and Forest, relief Mr. Rahman has a long successful business career having an
and rehabilitation, Home Affairs, and Finance. He was also influential & respected personality among the expatriate
involved in various National level activities, namely, approval Bangladeshis in Dubai, UAE. He is deeply involved in the welfare
and monitoring of relief and rehabilitation activities of NGOs of the Bangladeshi community. Mr. Rahman is a CIP and is also
worked for the flood victims of 1988; National Pay Commission the recipient of the prestigious Bangladesh Bank Award for 4
1990 and conducted Bangladesh Agricultural Census and consecutive years from 2013 to 2016.
Bangladesh Economic Census as Project Director. He was also
the Director of the Statistical Training Institute in BBS. He
attended various training, workshop and seminars at home and
abroad. He visited India, USA, Canada, Japan, Hong Kong,
Thailand, Malaysia, Switzerland, Austria, France, Germany,
Australia and Nepal. He is blessed with one daughter and two
sons namely, Tushar Iqbal Rahman – a Permanent Resident of
Germany and Faisal Rahman Tamal - a permanent Resident of
Australia.

30
Mr. Abu Bakr Chowdhury Mr. Loquit Ullah
Director Director

Mr. Abu Bakr Chowdhury is the Sponsor Director and Chairman Mr. Loquit Ullah, an NRB & an Italian citizen, is engaged in
of Baizid Group of Industries, who hails from a respectable family wholesale business since 1980. Mr. Loquit Ullah is Managing
of Chattogram and started manufacturing of steel products since Director of Store Alamin S.N.C., Rome, Italy.
1986. He is also a UAE resident.

Due to his vast experience and dynamic leadership Baizid Steel

has been turned into a most sophisticated re-rolling mill having
prestigious License of Tempcore from CRM Belgium. Linkage Ms
Billet manufacturing unit in the name of CSS Corp. (Bd) Ltd. and a
new 25 mw capacity power plant and property management in
the name of ABC Marks Holdings Ltd. including General trading.
Mr. Chowdhury is associated with various trade bodies and
social and educational institutions and earned wide market
reputation at home and abroad. He has a very strong socio-
cultural and socio-economic background.

31
Mr. Mohammed Nazim Mr. AKM Mostafizur Rahman
Director Director

Mr. Mohammed Nazim is a permanent resident of UAE. Mr. A.K.M Mostafizur Rahman was born in a prominent Muslim
Nazim is a graduate and is engaged in the cars Service Business family of Barisal, Bangladesh and a resident of UAE. He has
in U.A.E. He is also Managing Director & CEO of Al Badar Real obtained Hon’s and Masters Degree in Economics from Dhaka
Estate which is a leading company in real estate sector of University. He is a successful and potential Businessman and has
Ajman – U.A.E. strong socio-economic & socio-culture development
background. Mr. Mostafiz has established a NGO, aiming to
alleviate poverty and empowering the poor and vulnerable
people through small and medium entrepreneurship and
economic development activities. He revealed his strong belief
that honesty & sincerity make a successful business. Investment
to the innovative, creative & sustainable businesses, especially
young & women entrepreneurs can bring success. He has been
involved with Pandamic Agro-Fisheries, Meghna Bank Ltd, Royal
Denim Ltd, Richway Ltd, Ezy Fintech Ltd, Pandamic Trade
International, NAVA IT Consultancy–FZC, Dragon Sweater &
Spinning Ltd, Uzirpur Fish Park. He is involved in different type of
philanthropy activities. Dr. Tamanna Mostafizur Foundation &
A.K.M. Mostafizur Rahman School & College. He attended &
received several trainings, seminars & workshops on financial
rules regulations, investment and management in home and
abroad. He is life-member of Lions Clubs International,
Bangladesh Orthonitee Samittee, Asian Partner for Human
Development, Human & Peace Organization. Mr. Rahman
achieved 06 national awards for his outstanding contributions
and those are Jainul Abedin Gold Award for Health & Nutrition,
Sadinata Sangsad Award for Education Services, Index Kagoj-
Kalam Business Award for Social Welfare, Sritir SIDR for Special
Contribution in Relief and Rehabilitation Programs, Journalist
Association Award for Socio-economic Development. National
Youth Culture Organization Award for Health & Education. Mr.
Rahman is blessed with two daughters – Tarisha & Ornisha.

32
Dr. Khan Mohammad Abdul Mannan Dr. Raad Mozib Lalon
Independent Director Independent Director

Dr. Khan Mohammad Abdul Mannan was Inspector General of Dr. Raad Mozib Lalon, is a renowned Faculty Member of
Registration of Bangladesh (Senior District & Sessions Judge), Department of Banking and Insurance, University of Dhaka.
Registration Directorate. Before that he was a District & Sessions Previously he discharged duties as a respected faculty member
Judge at Jhenidah, Bangladesh. He completed his PhD from in different private universities of Bangladesh. He completed his
American World University, California, USA. He also completed PhD from University of Dhaka on Banking in the year 2018. He is a
his DLC (Development Lawyers Course) from International specialist of Multinational Financial Management, Risk
Development Law Institute, Rome, Italy in the year 1992. During Management in Commercial Banking/Financial Institution,
his glorious career, he was involved in a number of Investment Analysis & Modern Portfolio Management and so
extracurricular activities, such as discharging duties as the Vice on. During his illustrious career, he conducted many research
President of Bangladesh Judicial Service Association, Present of and achieved a number of awards for his merit, such as Dean’s
Bangladesh Law Association, Founder Secretary General of Merit Award, Certificate of Merit from University of Dhaka. He
Padma Degree Collage, Dohar and so on. He actively participated wrote a number of International Journals on Finance and
in the liberation war of Bangladesh in 1971. Banking, Economics and Business Management Studies.

33
Mr. Golam Awlia
Managing Director & CEO

Mr. Awlia is an M.Com & B.com in Finance from the University of

Dhaka. He started his banking career in 1983 from United
Commercial Bank limited as a probationary officer. He has
served as Head in different Divisions of Head Office and Head of
Zones and Branches with pride in his colorful career of long 37
years. In 2018, he joined Premier Bank Limited as Additional
Managing Director. Prior to his joining in Primier bank, He was
serving in UCBL as Deputy Managing Director (DMD). Mr. Awlia
has multifarious experience in the fields of Credit, Retail, Card
and Channel Banking operations. He has attended number of
programs in home and abroad as a resource person. He has
visited several countries including Italy, Singapore for
participating training and seminars on banking and economy.
Son of late Golam Sarwar Mia, Golam Awlia was born on 27
January 1960 in a renowned Muslim family at Agarpur (Mia Bari)
in Babugong of Barishal district. He is married and blessed with
two sons.

34
35
36
37
38
39
40
 EXECUTIVE COMMITTEE

Mr. Mohammed Adnan Imam, FCCA Mr. Mohammed Oliur Rahman

Chairman Member

Mr. Abu Bakr Chowdhury Mr. Loquit Ullah

Member Member

Mr. SM Parvez Tamal

Member

42
02
 AUDIT COMMITTEE

Air Chief marshal Abu Esrar (Retd.) Mr. Rafikul Islam Mia Arzoo
Independent Director & Chairman Member

Mr. Mohammed Nazim Mr. AKM Mostafizur Rahman

Member Member

Dr. Raad Mozib Lalon

Independent Director & Member

43
02
 RISK MANAGEMENT COMMITTEE

Mr. A M Saidur Rahman Mr. Rafikul Islam Mia Arzoo Mr. Mohammed Nazim
Chairman Member Member

Air Chief marshal Abu Esrar (Retd.) Dr. Khan Mohammad Abdul Mannan
Independent Director & Member Independent Director & Member

SHARIAH SUPERVISORY COMMITTEE

SL Status in the Board Status in Committee

1 Mr. Shah Mohammad Wali Ullah Chairman

2 Mr. Obaid Ullah Hamzah Member
3 Mr. Mohammed Oliur Rahman Member
4 Mr. Mohammed Adnan Imam, FCCA Member
5 Mr. AKM Mostafizur Rahman Member
6 Mr. Loquit Ullah Member
7 Dr. Khan Mohammad Abdul Mannan Member
8 S M Parvez Tamal (Chairman, BoD) Member

44
02
Addl. Managing Director Managing Director & CEO Dy. Managing Director Dy. Managing Director Dy. Managing Director & CFO

SEVP & HOICC SEVP & HOCRM SEVP & HORBBDD SEVP & HOFIBD SEVP & HORMD
SL Name of Executive Designation Position

SL Name of Executive Designation Position

46
02
NRBC’s Executive from Assistant Vice President
to Managing Director & CEO

MANAGING DIRECTOR & CEO VICE PRESIDENT

Golam Awlia 1. Habibur Rahman Khan
2. Md. Abu Moshaheed
ADDITIONAL MANAGING DIRECTOR 3. Kazi Zunaid Zaman
Kazi Md. Talha 4. Md. Jafar Iqbal Howlader
5. Md. Monirul Islam
DEPUTY MANAGING DIRECTOR 6. Subhashis Roy
1. Kabir Ahmed 7. Hasnat Reza Mohibbul Alam
2. Harunur Rashid 8. M. M. Moshiur Rahman
3. Md. Rabiul Islam 9. Md. Monirul Islam
10. Golam Mahamood
SENIOR EXECUTIVE VICE PRESIDENT 11. Md. Akhtar Hossain
1. Tanusree Mitra 12. Ibne Ali Md. Najmul Kibria
2. Kazi Md. Safayet Kabir 13. G.K.A.M. Maksud Bin Harun
3. Syed Mahbubul Haq 14. Ashim Kumar Das
4. Muhammad Hajjaj-Bin-Mahfooz 15. Md. Abdul Gofur Raana
5. Hafiz Imroz Mahmud 16. Md. Ruhul Amin
17. A. S. M. Maruf Uddin Kamal
EXECUTIVE VICE PRESIDENT 18. Md Razidul Islam
1. Md. Mynul Hossain Kabir 19. Md. Nurul Habib
2. Md. Kabir Hossain 20. Md. Shafiul Azam
3. Md. Delwar Hossain 21. Wg. Cdr. Rumana Anis (Retd.)
4. A K M Rabiul Islam
5. Serajul Amin Ahmad FIRST VICE PRESIDENT
1. Mohammad Shamsuzzaman
SENIOR VICE PRESIDENT 2. Mohammad Saiful Islam
1. Asif Ahmed 3. Shajid Ikbal
2. Chowdhury Mohiuddin 4. Harunur Rashid
3. A. I. M. Mostafa 5. Md. Mamun Hossain
4. Abdul Awoal Mia 6. M. M. Waliar Rahman
5. Md. Joynal Abedin 7. Mohd. Shamim Ahmed Joarder
6. Forhad Sarker 8. Mohammad Shahidul Islam
7. Major Md Parvez Hossain (Retd) 9. Md. Mehbub Ashraf
8. Didarul Haque Miah 10. Mohammad Aminul Islam
9. Md. Masum Ali 11. Md. Zamir Uddin
10. Mahmudul Hasan 12. Md. Arifur Rahman
11. Md. Sahidul Islam 13. Shamol Chandra Barmon
12. Khandker Sayeed Nazmul Hasan

47
02
14. Md. Nasimul Kabir 18. Mohammed Monowar Hossain
15. Praduyth Bikash Chowdhury 19. Mohammad Abdus Shobhan
16. Muhammad Faruk Hossain 20. Mohiuddin Ahmed
17. Sayed Ahmed 21. Kazi Mizanur Rahman
18. Syed Sirajul Haque 22. Mohammad Sultan Chowdhury
19. Gopal Chandra Roy 23. Md. Mokhlesur Rahman Bali
20. Sk. Ahsanul Haque 24. Asaduzzaman Bhuiya
21. Moshiur Rahman 25. Md. Kabir Uddin
22. Saila Satter 26. Md. Sakhawat Hossain
23. Md. Anisur Rahman 27. Kazi Mohammad Ziaul Karim
24. Asma Akhter 28. Md. Faisal Mahmud
25. Mohammed Ghaus Ahmed 29. A.K.M Nazmul Hasan
26. Md. Belal Hossain 30. Kazi Rejaul Qais
27. Mohammad Abdus Sattar 31. Russel Mehedi
28. Md. Mahfuzul Haque 32. Md. Kamrul Hasan
29. Md. Romjan Ali Bhuyan 33. Sujan Kanti Das Gupta
34. Md. Mamun-Ar-Rashid
COMPANY SECRETARY 35. Ratna Rani Sikder
Md. Reaz Uddin Asif 36. Saiful Islam Bhuiyan
37. Himadri Shakhor Dubey

ASSISTANT VICE PRESIDENT 38. Shahin Sultana

1. Mohammed Kamrul Hasan 39. Md. Al Mamunur Rashid

2. Md. Main Uddin 40. Md. Firog Ahmed

3. Md. Mobarok Hossain 41. Forkan Uddin

4. Maniruzzaman Mian 42. Md. Rashed Ul Alam

5. Suriya Rahman 43. Md. Iqbal Hossain

6. Muklessur Rahman 44. Md. Robiul Islam

7. Asif Iqbal 45. Meeraz Ahmed Saadi

8. Md. Lalon Sarwar 46. Md. Mainur Alam Chowdhury

9. Md. Ashiqur Rahman 47. Arifur Rahman

10. Asif Ahmed 48. Md. Nurun Nabi Sharif

11. Mohammad Shafiqul Islam 49. Md. Tariqul Islam

12. Md. Solaiman Hossain

13. Rima Zaman
14. Md. Delower Hossain
15. Mahfuza Akther
16. Shah Md. Ashiqur Rahman
17. Md. Sakil Siddique

48
HEADS OF BRANCHES
DHAKA DIVISION

Principal Branch Gulshan Branch

114, Motijheel C/A Landmark (2nd Floor)
Dhaka-1000 12-14, Gulshan Circle-2
Phone: 02-9573422-30, Ext-201 Dhaka-1212
Cell: 01955-502101 Cell: 01678444009
Email: [email protected] Email: [email protected]
HOB: Md. Rabiul Islam, DMD HOB: A.K.M Rabiul Islam, EVP

Ruhitpur Branch
Rahim Noor Skyview Tower,
Ruhitpur Bazar, Keranigonj, Mawna Branch
Dhaka-1310 Hazi Abdus Salam Tower,
Phone: 02-7766887 Mawna, Sreepur, Gazipur
Cell: 01955-502103, 01711-979807 Cell: 01955-502104, 01678-433104
Email: [email protected] Email: [email protected]
HOB: Mohammad Manirul Huq, PO HOB: Mohammad Abul Kalam Azad, FAVP

Chinishpur Branch Hemayetpur Branch

Shamsuddin Bhuyian Plaza, Jailkhana Moor 225, Singair Road, Hemayetpur, Savar
Chinishpur, Narsingdi Dhaka-1340
Cell: 01955502106 Cell: 01955-502107, 01678-433107
Email: [email protected] Email: [email protected]
HOB: Md. Sayed Ahmed, FVP HOB: Saiful Islam Rubel, FAVP

Uttara Branch
Masum Plaza, House # 13, Road # 15, Board Bazar Branch
(Ground, 2nd & 3rd Floor), Rabindra China Town Bangladesh, 84 Kalameshwar, Ward
Sharani, Sector # 03, Uttara, Dhaka-1230 35, Zone 2, Boardbazar, Joydebpur, Gazipur
Cell: +88 01955 502108 Cell: 01717840392, 01955502109
Email: [email protected] Email: [email protected]
HOB: Mahmudul Hasan, SVP HOB: Muhammad Mahmudur Rahman, FAVP

Dhanmondi Branch
Mograpara Branch Mir Nur Square (2nd Floor),
Nurul Islam Plaza House-43 (New), Road-2/A (New),
Habibpur (Mograpara Chowrasta) Satmosjid Road, Dhanmondi, Dhkaka
Mograpara, Sonargaon, Narayanganj Tel: +880-2223361670
Cell: 01955-502110, 01678-433110 Cell: +8801955502111
Email: [email protected] Email: [email protected]
HOB: Md. Tareq, FAVP HOB: Abdul Awoal Mia, SVP

50
02
Aganagar Branch
Din Complex, Kodomtoli Mor, Shuvadda Gorai Branch
Keraniganj, Dhaka-1310 Mir Milton Complex
Phone: +8802-7764581-82 Gorai, Mirzapur, Tangail
Cell: 01955-502112, 01678-433112 Cell: 01955 502 113, 01678 433 113
Email: [email protected] Email: [email protected]
HOB: Md. Arifur Rahman, FVP HOB: Md. Harun-Ur-Rashid Khan, FAVP

Panchabati Branch
Mamun Super Market
Panchabati, Fatullah Zirabo Branch
Narayanganj Fuad Complex (1st floor)
Tel: +8802-47670461-62 Zirabo, Ashulia, Dhaka
Cell: 01955-502114, 01977-013647 Cell: 01955-502115, 01678-433115
Email: [email protected] Email: [email protected]
HOB: Md. Solaiman Hossain, AVP HOB: Muhammad Shamim Ahmed Shahin, FAVP.

Banani Branch
Nabinagar Branch Rosebud, House # 155
Unity Trade Center Road # 11 & 13/B ,Block # E, Banani
Dendabar (Palli Bidyut Bus Stand), Savar Cantt Dhaka-1213
Ashulia, Savar, Dhaka-1344 Phone: 880 2 9822394-5
Cell: 01955502117 Cell: 01955-502121, 01971426666
Email: [email protected] Email: [email protected]
HOB: Md. Faisal Mahmud, AVP HOB: Asif Ahmed, SVP

Ekuria Branch Zirani Bazar Branch

Italy Tower ( 1st & 2nd Floor) Zirani Bazar (College Road)
Container Port Road, Hasnabad BKSP, Ashulia, Savar, Dhaka
South Keraniganj, Dhaka Cell: 01955-502127, 01715-505057
Cell: 01955-502123, 01678-433123 Email: [email protected]
Email: [email protected] [email protected]
HOB: Mohammad Abdus Shobhan, AVP HOB: Mohammad Sultan Chowdhury, AVP

Narayangonj Branch Mirpur Branch

148, B.B Road, Narayangonj Sadar Zone Tower, 128 Begum Rokeya Sarani
Narayangonj Mirpur, Dhaka-1216
Cell: 01955502128 Cell: 01955502129
Email: [email protected] Email: [email protected]
HOB: Mohammad Abdus Sattar, FVP HOB: Md. Monirul Islam, VP

Nayabazar Branch
31 Nawab Yousuf Road, Kotwali
Sonargaon Janapath Sorok Branch Dhaka-1100
Khalpar, Sonargaon Janapath Road, Dhaka Phone: 0257396623-24
Cell: 01955502133, 01955502027 Cell: 01955-502139, 01678-433139
Email: [email protected] Email: [email protected]
HOB: Habibur Rahman Khan, VP HOB: Md. Nasimul Kabir, FVP

Madhabdi Branch
Bhulta Branch N.S Tower, Hazi Borhan Market (1st Floor)
Salam Mansion Market ( 2nd Floor), Madhabdi, Narsingdi-1604
Bhulta, Rupganj, Narayanganj-1462 Phone: 02-944660910
Cell: 01955-502140, 01715-431015 Cell: 01955-502142
Email: [email protected] Email: [email protected]
HOB: Md. Delower Hossain, AVP HOB: Md. Lalon Sarwar, AVP

51
02
Bhuigar Branch Hatirpul Branch
Ayub Ali Super Market Ahsan Trade Center,
(Bhuigar Bus Stand ) Bhuigar, Kutubpur 15/1, Paribagh, Shah Saheb Road
Fatulla, Narayanganj Hatirpul, Dhaka-1000
Cell: 01955502143, 01678433143 Tel: +8802-96632055
Email: [email protected] Cell: 01955-502144, 01841453845
[email protected] Email: [email protected]
HOB: Md. Amdad Ali, SEO HOB: Md. Kabir Hossain, EVP

Gazipur Chowrasta Branch

Charabag Branch Shapla Mansion (2nd Floor), Gazipur
Charabag Mor, Ashulia, Savar, Dhaka Chowrasta, Gazipur-1702
Cell: 01955502145 Cell: 01955-502147, 01678-433147
Email: [email protected] Email: [email protected]
HOB: Al Mamun Sanaul Bari, PO HOB: Mohammad Shahidul Islam, FVP

Dhanmondi Mohila Branch

Jebun Archaed
House No.4, Plot-376, Road No.16 (New) & Imamganj Branch
27(Old), Dhanmondi Lily Mansion, 36 Roy Iswar Chandra Shill Bahadur
Dhaka-1209 Street, Ward 30, Ps-Chawkbazar, Dhaka
Cell: 01955502151 Cell: +88 01955502154
Email: [email protected] Email: [email protected]
HOB: Suriya Rahman, AVP HOB: Muklessur Rahaman, AVP

Araihazar Branch
Dubai Plaza, Holding No# 866 Bandura Branch
Araihazar, Narayanganj Nur Uddin Plaza, Bandura, Nawabganj, Dhaka
Cell: 01955-502156 , 01678-433156 Cell: 01955502157
Email: [email protected] Email: [email protected]
HOB: Kachi Sikder, PO HOB: Md.abdul Halim, EO

Bhairab Branch
Tongi Branch 133/5, Helal Tower,
52 Morium Mansion (1st Floor) Bangabandhu Sarani, Bhairab
Tongi Bazar, Tongi, Gazipur-1710 Kishoregonj
Cell: 01955502158 Cell: 01955-502160
Email: [email protected] Email: [email protected]
HOB: Md. Mamun Hossain, FVP HOB: Md. Rakibul Hasan, SEO

Gopalganj Branch
Siraj Tower, Launch Ghat, House# 96, Mirpur-12 Branch
Bangabandhu Sarak, Gopalganj Hazi Kujrat Ali Mollah Super Market, Plot-1/D,
Phone: 6681294,6681298 Harun Mollah Road, Mirpur-12, Dhaka-1216
Cell: +880 1955502162, +880172-4402338 Cell: 01711152121,01955502167
Email: [email protected] Email: [email protected]
HOB: Md. Anisur Rahman, FVP HOB: Md. Abdullah-Al-Wadud,FAVP

Rajbari Branch
Mridha Market, Holding # 53-54, 1 no Railgate,
Ward No-03, Rajbari, Rajbari Sadar, Rajbari
Phone: +8801955502169 & +8801678433169,
E-mail: [email protected]
HOB: Md. Nazmul Hossain, PO

52
02
Shyamoli Ring Road Branch Bhanga Branch
H I Sayed Mansion, Holding: 24/2, Block: B, Loknath Bhaban (2nd floor), 89 Shari Potti,
Khilji Road, Shyamoli Ring Road, Dhaka-1207 Bhanga Bazar, Bhanga, Faridpur
Cell: +8801955502175, +880 1620010275 Cell: 01711350942
Email: [email protected] Email: [email protected]
HOB: M.M. Moshiur Rahman, VP HOB: Md. Abdul Halim, FAVP

Manikganj Branch
Kishoreganj Branch 136, Shahid Rafique Sarak,
N S Tower (1st Floor), Manikganj Sadar
Holding no: 119,Rothkhola,Kishoreganj Sadar, Manikganj-1800
Kishoreganj-2300 Tel: +88 02 996 612282, +88 02 996 611229
Cell: 01955-502177, 01717091206 Cell: 01955502178, 01620010278
Email: [email protected] Email: [email protected]
HOB: Md. Elias Uddin, FAVP HOB: Md. Nurul Amin, PO

Tangail Branch
702, Sabur Khan Tower, Baro Kali Bari Road, Zajira Branch
Tangail Sadar, Tangail Mollah Plaza, Holding 03, Ward No 04,
Phone: +880921-62603, Thana Road, Zajira, Shariatpur
Cell: 01955-502179, 01711-102695 Cell: 01955502185
Email: [email protected] Email: [email protected]
HOB: Mohammad Dilder Hossain, FAVP HOB: Md. Al-Amin Sikder Likhon, EO

Mohakhali Branch
MHB Bhaban (1st Floor)
94, Bir Uttam A. K. Khandker Road
Mohakhali C/A, Dhaka-1212
Cell: 01955-502189
Email: [email protected]
HOB: Md. Shafiul Azam, VP

CHATTOGRAM DIVISION

Agrabad Branch
37 Quaderi Chamber O R Nizam Road Branch
Agrabad C/A Atlanta Trade Centre, (1st & 5th Floor)
Chittagong-4100 Ward No: 15, O R Nizam Road
Tel : 031-2521701-04 Chwakbazar, Chattogram
Cell: 01955-502105, 01678-433105 Cell: 01711078776, 01955502118
Email: [email protected] Email: [email protected]
HOB: Praduyth Bikash Chowdhury, FVP HOB: Chowdhury Mohiuddin, SVP

Chandraganj Branch
Dada Bhai Plaza,
Chatkhil Branch Chandraganj west Bazar,
Jonaki Super Market, Chandraganj, Lakshmipur,
Chatkhil, Noakhali Phone: 0382-581160
Phone: 0322275357-9, Mobile No: 01955502125, 01814315061
Cell: 01955-502124, 01678-433124 Email: [email protected]
Email: [email protected] [email protected]
HOB: Md. Sakhawat Hossain, AVP HOB: Muhammad Abdul Quddus Patawry, FAVP

53
02
Boro Dighirpar Branch Raozan Branch
Haji Raja Miah Market, Boro Dighirpar, Feroz Tower, Ramjan Ali hat
Chikondandi, Hathazari, Chattogram Raozan, Chattogram
Cell: 01955-502126 (Office), 01712-767905. Cell: 01678444032
Email: [email protected] Email: [email protected]
HOB: Rajat Deb Mitu, PO HOB: Md. Saimun Rahman, SEO

Moynamoti Branch
Mainamati Senakalyan Market, Nischintapur, Jubilee Road Branch
Adarsha Sadar, Union #2 Durgapur (North), Eastern Trade Center, 9/A Jubilee Road
Cumilla Kotwali, Chattogram
Cell: 01955502134 Cell: 01819-974127, 01955-502137
Email: [email protected] Email: [email protected]
HOB: A K M Nazmul Hasan, AVP HOB: Md. Joynal Abedin, SVP

Chandina Branch
Feni Branch Hazi Ali Mansion (1st Floor)
Latu Mia Complex, S.S.K Road Holding no: 1304, Ward no. 5
Feni, Chittagong Chandina Pourashova, Chandina, Cumilla
Cell: 01955502149 Cell: 01955 502150, 01816 936367
Email: [email protected] Email: [email protected]
HOB: Kazi Mohammad Ziaul Karim, AVP HOB: Md. Kamrul Hasan, AVP

Laksam Branch
Matlab Branch Hazi Moksud Ali Tower, Holding-1603, Ward-04,
N.A.M Tower, Holding No.: 465, Ward No.: 3, Daulatganj Chaul Bazar Road, Laksam Pourasava,
Matlab, Chandpur, Chittagong. Laksam, Cumilla-3570
Cell: 01955502153, 01678433153 Cell: 01955-502155, 01678-433155
Email: [email protected] Email: [email protected]
HOB: Muhammad Faruk Hossain, FVP HOB: Mohammad Anwar Hossain, PO

Hathazari Branch Cox's Bazar Branch

Toyuba Noor Complex, Kachari Road Zilongia, Cox's Bazar Sadar
Hathazari, Chittagong Cox's Bazar
Cell: 01955502161 Cell: 01819352057
Email:[email protected] Email: [email protected]
HOB: Mohammad Aminul Islam, FVP HOB: Md Rafiqul Haider Chowdhury, FAVP

Nasirnagar Branch
Mosharraf Plaza (1st Floor), Thana Road
Nasirnagar, Brahmanbaria
Chittagong
Cell: 01955502193
Email: [email protected]
HOB: A. T. M. Masudul Huq, PO

54
02
 SYLHET DIVISION

Munshi Bazar Branch

Sylhet Branch Late Sikondor Ali Market (1st Floor)
Holding No: 0445-00, Ward No: 17 Munshi Bazar, Rajnagar
Chowhatta, Ambarkhana Road, Sylhet Moulvi Bazar-3240
Cell: 0195502116 Cell: 01955502135
Email: [email protected] Email: [email protected]
HOB: Md. Abdul Kader Talukder, FAVP HOB: Mohammad Alauddin Sabbir

Sylhet Upashahar Branch Bateshwar Branch

Abdul Khalique Mansion, Mendibag point, Metropolitan University Campus Bateshwar
Upashahar Sylhet 4No Khadim para, Atgaon, Shah Paran, Sylhet
Cell: 0195502136 Cell: 01955502159, 01721423988
Email: [email protected] Email: [email protected]
HOB: Muhammd Shafique Miah Majumder, FAVP HOB: Md. Abul Khayer, FAVP

Sunamganj Branch
Dean Parvez Tower, Station Road Habiganj Branch
Purbo Bazar Alif Sah Centre, Puran Munsefi Road
Sunamganj-3000 Commercial Area, Habiganj
Cell: 01955502187 Cell: 01955-502188
Email: [email protected] Email: [email protected]
HOB: Mr. M. A. Mubin, VP HOB: Muhammad Abul Kalam Azad, FAVP

BARISHAL DIVISION

Barishal Branch Indurhat Branch

Lisa Plaza, 140/1 Sadar Road, Barishal Nesarabad (Swarupkathi), Pirojpur
Cell: 01955502119, 01814084824 Cell: 01955502138
Email: [email protected] Email: [email protected]
HOB: Gopal Chandra Roy, FVP HOB: Md Asaduzzaman, EO

Barguna Branch
Agailjhara Branch Fahim Tower, Bangabandhu Road,
110, Sadar Road, Khalifa Potti, Barguna
Agailjhara, Barishal Phone: +88044863212,
Cell no-01955-502164 or 01713-952694, Cell : 01955-502171, 01620-010271
Email: [email protected] Email : [email protected]
HOB: Syed Jahidur Rahman, PO HOB: Md. Delowar Hossain, PO

Banglabazar Branch Subidkhali Branch

Kazi Super Market (1st floor) Nannu Shopping Complex 2nd floor,
Daulatkhan Road, Banglabazar, Bhola Subidkhali, Mirzaganj, Patuakhali
Cell: 01955-502174, 01716-806937 Cell: 01955502191
Email: [email protected] Email: [email protected]
HOB: Md.Mosharref Hossain Nannu, PO HOB: Prodip Kumar Paul, PO

55
02
 RAJSHAHI DIVISION

Rajshahi Branch
F.R. Plaza, Rani Bazar Naogaon Branch
Rajshahi-6100 TK Plaza, Batar More, Main Road
Phone-0721-775046, Ext-100 Naogaon Sadar, Naogaon
Mobile No-01712-106062, 01955502120 Cell: 01955502122
Email: [email protected] Email: [email protected]
HOB: Md. Nurul Habib, VP HOB: Ashim Kumar Das, VP

Bogura Branch
Goni Plaza (1st Floor) Ruppur Branch
Namazgor Mor, Bogura Sador Dag# 1005, Natun Hat Mor, Shahapur
Bogura-5800 Ishwardi, Pabna
Cell: 01955502146 Cell: 01678-433165
Email: [email protected] Email: [email protected]
HOB: Shamol Chandra Barmon, FVP HOB: Md. Rashed Ul Alam, AVP

Nachole Branch
Dewan Tower, Bus Stand More Shialkol Branch
Nachole, Chapainawabganj Shialkol Bazar, Sirajganj
Phone: 0782-456044, Phone: 0751-62555
Cell: 01955-502172, 01717-167308 Cell: 01955-502182, 01712-969495
Email: [email protected] Email: [email protected]
HOB: Md. Kabiruddin, AVP HOB: Himadri Shakhor Dubey, FAVP

Boraigram Branch
Boraigram Poura Market
Laxmikole Bazar, Boraigram, Natore
Cell: 01955502190, 01793597639
Email: [email protected]
HOB: Md. Arefin Haider, EO

RANGPUR DIVISION

Rangpur Branch Pulhat Branch

KTS Tower, 16 G.L Roy Road, Rangpur Sarkar Bhaban, Pulhat, Dinajpur Sadar, Dinajpur
Cell: +8801955502130 Cell: 01955502141
Email: [email protected] Email: [email protected]
HOB: Syed Sirajul Haque, FVP HOB: Kazi Rejaul Qais, AVP

Sundarganj Branch Panchagarh Highway Branch

H# 33, Thana Road, Sundarganj Khodeja Super Market
Gaibandha-5720 Boda, Panchagarh-5010
Cell: 01955502180 Cell: 01955-502181, 01620-010281
Email: [email protected] Email: [email protected]
HOB: Md. Rezaul Kafi, SEO HOB: Md. Rakib Ul Hasan, FAVP

56
02
Jaldhaka Branch
Chowdhury Market, Zero Point More Kurigram Branch
Jaldhaka Nasurddin Market, Kalibari Road
Nilphamari - 5330 Kurigram-5600
Email: [email protected] Cell: 01955502186
Cell: 01955502184, 01620010284 Email: [email protected]
HOB: Md. Saidur Rahman, PO HOB: Md. Mahmud-Al-Humaide, PO

KHULNA DIVISION

Khulna Branch Hatgopalpur Branch

Dr. Bazlul Haque Palace, 34, KDA Avenue, Mondal Market, Hatgopalpur Bazar
Khulna-9100 Jhenaidah Sadar, Jhenaidah
Phone: 02-44111824, Khulna
Cell: 01955-502131, 01734-557716 Cell: 01955502148
Email: [email protected] Email: [email protected]
HOB: Md. Mokhlesur Rahman Bali, AVP HOB: Russel Mehedi, AVP

Kushtia Branch
176-178 Tamij Uddin Market (1st Floor) Jashore Branch
N.S. Road 1490-00, Universal Mintu Heights, R.N Road,
Kushtia-7000 Jashore-7400
Cell: +8801717008500, +8801955502163 Cell: 01955502166
Email: [email protected] Email: [email protected]
HOB: Sk. Mosharraf Ali, SEO HOB: Md. Firoj Alam, PO

Chuadanga Branch
Kalaroa Branch Miya Merket, Boro Bazar
Sheikh Ajmol Super Market, Kalaroa Bazar, Chuadanga Sador
Kalaroa, Satkhira Chuadanga -7200
Cell: 01955502173 Cell: 01955502192, 01725323750
Email: [email protected] Email: [email protected]
HOB: Md. Abdullah Al Mamun, SEO HOB: G. M. Billal Ahammad, FAVP

MYMENSINGH DIVISION
Mymensingh Branch
38, G M Plaza (1st Floor)
Muktijoddha Sarani Sarak, Purbadhala Branch
Choto Bazar, Mymensingh-2200 Habib Market (1st Floor), Maddho Bazar,
Phone: 09151810-20, Purbadhala, Netrakona
Cell: +880 1955502152,+880 1710068387 Cell: 01955-502168, 01678-433168
Email : [email protected] Email: [email protected]
HOB: Saiful Islam Bhuiyan, AVP HOB: Nahidur Rahman, FAVP

Madarganj Branch
Ashraf Talukder Super Market (1st Floor)
Balijury Bazar, Madarganj, Jamalpur
Cell: 01955 502170, 01678 433170
Email: [email protected]
HOB: Md. Mahade Hasan, PO

57
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66
HORIZONTAL AND VERTICAL ANALYSIS
HORIZONTAL ANALYSIS
Last Five years' (2017 to 2021) Balance Sheet (UNCONSOLIDATED)
2021 2020 2019 2018 2017
Particular’s
% % % % %
PROPERTY AND ASSETS
Cash: 206.6% 154.5% 148.0% 103.7% 100.0%
In Hand (Including Foreign Currencies) 313.5% 202.5% 215.5% 141.0% 100.0%
Balance with Bangladesh Bank and its agent bank (s) 177.9% 141.7% 129.9% 93.7% 100.0%
(including foreign currencies)
Balance with other banks and financial institutions 293.4% 225.9% 131.3% 162.9% 100.0%
In Bangladesh 245.8% 211.7% 154.3% 194.5% 100.0%
Outside Bangladesh (Nastro Account) 471.9% 279.0% 44.8% 44.3% 100.0%
Money at call and short notice 11.4% 10.4% 66.1% 100.0% -
Investments 439.4% 406.0% 235.5% 122.3% 100.0%
Government 470.3% 492.3% 259.3% 125.4% 100.0%
Others 344.2% 139.9% 162.3% 112.5% 100.0%
Loans and advances/investments 244.2% 174.2% 144.4% 112.0% 100.0%
Loans, cash credits, overdrafts etc./investments 248.8% 175.9% 144.4% 112.3% 100.0%
Bills purchased and discounted 110.1% 124.7% 143.5% 104.2% 100.0%
Fixed assets including premises, furniture and fixtures 382.6% 174.7% 105.9% 99.4% 100.0%
Other assets 269.9% 240.6% 177.1% 129.8% 100.0%
Non - banking assets - - - - -
Total assets 267.3% 203.0% 156.9% 116.7% 100.0%

LIABILITIES AND CAPITAL

Liabilities
Borrowings from other banks, financial institutions and agents 569.0% 322.8% 100.7% 23.4% 100.0%
Bond - BASEL Capital Tier-I & II 100% - - - -
Deposits and other accounts 254.0% 199.4% 158.9% 119.6% 100.0%
Current accounts/Al-wadeeah current accounts and other accounts 678.0% 401.2% 204.0% 112.3% 100.0%
Bills payable 545.2% 400.5% 382.3% 133.6% 100.0%
Savings bank/Mudaraba savings bank deposits 448.6% 278.4% 181.1% 127.7% 100.0%
Special/Mudaraba notice deposits 281.6% 228.9% 162.8% 138.8% 100.0%
Fixed deposits/Mudaraba fixed deposits 166.6% 102.2% 67.4% 77.2% 100.0%
Schemes Deposit/ Mudaraba Scheme Deposits 195.6% 250.7% 257.8% 180.0% 100.0%
Other liabilities 361.4% 272.7% 191.4% 122.7% 100.0%
Total liabilities: 277.4% 209.1% 160.3% 117.5% 100.0%
Total Shareholders' Equity 186.0% 154.4% 129.0% 111.0% 100.0%
Paid -up capital 150.5% 118.9% 116.5% 105.0% 100.0%
Statutory reserve 334.4% 253.0% 197.7% 142.3% 100.0%
Others reserve 103348.9% 979933.9% 6056.3% 13231.3% 100.0%
Retained earnings 264.9% 182.5% 143.1% 118.6% 100.0%
Total Liabilities and Shareholders' Equity 267.3% 203.0% 156.9% 116.7% 100.0%

Horizontal Analysis (Balance Sheet)

Horizontal Analysis on Balance Sheet refers to the analysis of growth of each component of balance sheet items from the base period. Here base period is
considered the year 2017 giving a value of 100% and after that period value above 100% means positive growth and below 100% means negative growth
compared to base year. Here, total assets, liabilities and shareholders' equity are showing consistent growth over the last five years which symbolize
sustainable balance sheet growth of the bank as a whole. Post Covid Foreign Trade Business special export growth amplified balance with Nastro Account
after 2018 and exposure in capital and Bond other than govt. inflated along with sizable demand for government borrowing through T-Bill & bond helped
increase investment basket in 2021. After sharply decline in Borrowing from Banks on 2018 specially refinance from Bangladesh Bank, but implementation
of stimulus package for combating corona virus effect by Govt. through Bangladesh Bank impact on increase of borrowing sharply i.e. Pre/refinance package
to the affected sector. New issue of Subordinated Bond (NRBC Subordinated Bond -1) with amount of Tk. 300.00 Crore for contribute in Tier –II capital.

67
HORIZONTAL ANALYSIS
Last Five years' (2017 to 2021) Profit & Loss Statement (UNCONSOLIDATED)

2021 2020 2019 2018 2017

Particular’s
% % % % %
OPERATING INCOME
Interest income 167.7% 140.5% 149.1% 122.9% 100.0%
Interest paid/Profit Shared on deposits and borrowings, etc. 145.2% 156.4% 142.6% 115.8% 100.0%
Net interest income 213.0% 108.4% 162.1% 137.3% 100.0%
Investment income 284.8% 290.1% 107.7% 71.0% 100.0%
Commission, exchange and brokerage 168.1% 139.7% 146.5% 97.8% 100.0%
Other operating income 237.2% 184.8% 139.2% 107.7% 100.0%
Total operating income (A) 232.7% 181.0% 139.4% 106.4% 100.0%

OPERATING EXPENSES
Salary and allowances 271.2% 216.9% 162.7% 128.2% 100.0%
Rent, taxes, insurance, electricity, etc. 120.4% 107.9% 125.8% 107.6% 100.0%
Legal expenses 492.8% 171.7% 25.9% 23.0% 100.0%
Postage, stamps, telecommunication, etc. 209.6% 134.4% 120.4% 97.8% 100.0%
Stationery, printing, advertisement, etc. 692.3% 421.2% 203.4% 111.3% 100.0%
Chief Executive's salary and fees 87.7% 82.6% 118.3% 84.8% 100.0%
Directors' fees & meeting expenses 54.0% 75.4% 61.7% 81.3% 100.0%
Auditors' fees 306.7% 250.0% 166.7% 116.7% 100.0%
Charges on loan losses
Replacement, Repair and Depreciation of Bank's Assets 209.7% 141.8% 86.6% 91.2% 100.0%
Other expenses 237.3% 218.9% 108.8% 81.0% 100.0%
Total operating expenses (B) 242.7% 193.9% 135.9% 108.9% 100.0%
Profit before provision (C = A-B) 223.5% 169.1% 142.6% 104.2% 100.0%
Provision against loans and advances 174.4% 271.1% 93.2% 74.2% 100.0%
Provision for diminution in value of investments 478.3% 5283.3% -4168.9% -1248.5% 100.0%
Provision for Off-Balance Sheet Exposures 524.3% 188.5% 163.3% -14.9% 100.0%
Total provision (D) 240.0% 234.6% 124.2% 74.6% 100.0%
Profit before taxation (C-D) 218.3% 148.3% 148.5% 113.6% 100.0%
Provision for taxation 198.3% 150.5% 193.1% 135.6% 100.0%
Current Tax Expenses 180.8% 123.7% 147.7% 113.5% 100.0%
Deferred Tax Expenses/(Income) 136.8% 56.2% 33.2% 57.9% 100.0%
Net profit after taxation 228.4% 147.2% 125.9% 102.4% 100.0%

Appropriations:
Statutory reserve 218.3% 148.3% 148.5% 113.6% 100.0%
Retained surplus to retained earnings 232.8% 146.7% 116.1% 97.6% 100.0%

Horizontal Analysis (Profit & Loss Statement)

Horizontal Analysis on Profit & Loss account refers to the analysis of growth of each component of Profit & loss account from the base period. Here base
period is considered the year 2017 giving a value of 100% and after that period value above 100% means positive growth and below 100% means
negative growth compared to base year. The above table shows that total operating income, expenses and operating profit of NRBC Bank are growing
consistently over the periods. Though decrease of provision on investment in quoted share of listed company slightly impact Net profit in 2021 due to
keeping higher provision of loan and advances.

68
VERTICAL ANALYSIS
Last Five years' (2017 to 2021) Balance Sheet (UNCONSOLIDATED)

2021 2020 2019 2018 2017

Particular’s
% % % % %
PROPERTY AND ASSETS
Cash: 5.3% 5.2% 6.5% 6.1% 6.9%
In Hand (Including Foreign Currencies) 1.7% 1.4% 2.0% 1.8% 1.5%
Balance with Bangladesh Bank and its agent bank (s) 3.6% 3.8% 4.5% 4.3% 5.4%
(including foreign currencies)
Balance with other banks and financial institutions 3.0% 3.0% 2.3% 3.8% 2.7%
In Bangladesh 2.0% 2.2% 2.1% 3.5% 2.1%
Outside Bangladesh 1.0% 0.8% 0.2% 0.2% 0.6%
Money at call and short notice 0.1% 0.1% 1.0% 1.9% 0.0%
Investments 18.6% 22.6% 17.0% 11.8% 11.3%
Government 15.0% 20.7% 14.1% 9.2% 8.5%
Others 3.6% 1.9% 2.9% 2.7% 2.8%
Loans and advances/investments 68.3% 64.2% 68.8% 71.8% 74.8%
Loans, cash credits, overdrafts etc./investments 67.3% 62.6% 66.5% 69.5% 72.3%
Bills purchased and discounted 1.0% 1.5% 2.3% 2.2% 2.5%
Fixed assets including premises, furniture and fixtures 1.2% 0.7% 0.6% 0.7% 0.8%
Other assets 3.5% 4.2% 4.0% 3.9% 3.5%
Non - banking assets
Total assets 100.0% 100.0% 100.0% 100.0% 100.0%

LIABILITIES AND CAPITAL

Liabilities
Borrowings from other banks, financial institutions and agents 4.7% 3.5% 1.4% 0.4% 2.2%
Bond - BASEL Capital Tier-I & II 2.0% - - - -
Deposits and other accounts 74.8% 77.3% 79.7% 80.6% 78.7%
Current accounts/Al-wadeeah current accounts and other accounts 13.4% 10.4% 6.8% 5.1% 5.3%
Bills payable 6.7% 6.5% 8.0% 3.7% 3.3%
Savings bank/Mudaraba savings bank deposits 8.4% 6.9% 5.8% 5.5% 5.0%
Special/Mudaraba notice deposits 8.2% 8.8% 8.1% 9.3% 7.8%
Fixed deposits/Mudaraba fixed deposits 22.2% 17.9% 15.3% 23.6% 35.6%
Schemes Deposit/Mudaraba Scheme Deposits 15.9% 26.8% 35.7% 33.5% 21.7%
Other liabilities 10.8% 10.7% 9.7% 8.4% 8.0%
Total liabilities: 92.3% 91.6% 90.9% 89.5% 89.0%
Total Shareholders' Equity 7.7% 8.4% 9.1% 10.5% 11.0%
Paid -up capital 4.8% 5.0% 6.3% 7.7% 8.5%
Statutory reserve 1.6% 1.6% 1.6% 1.6% 1.3%
Others reserve 0.1% 0.7% 0.0% 0.0% 0.0%
Retained earnings 1.2% 1.1% 1.1% 1.3% 1.2%
Total Liabilities and Shareholders' Equity 100.0% 100.0% 100.0% 100.0% 100.0%

Vertical Analysis (Balance Sheet)

Vertical Analysis on Balance Sheet refers to the component of balance sheet items as a % of total Assets over the periods which would be termed as
common sizing of balance sheet. In Asset side, Loans and advances (68.3%) and investment (18.6%) hold more than 80% share of balance sheet in the
year 2021. Loan and advances/investments started decreasing after 2017 considering overall balance size. But post covid -2019, demand for loan and
advances contribute 4.1% augmented over the previous year that divert from investment in T-bill and bond. Deposit holds the major holding of liability
position which decreased in 2018. But govt. initiative for implementation of stimulus package for combating corona virus effect of the economy,
borrowing from Bangladesh Bank under refinance scheme increased significantly.

69
VERTICAL ANALYSIS
Last Five years' (2017 to 2021) Profit & Loss Statement (UNCONSOLIDATED)

2021 2020 2019 2018 2017

Particular’s
% % % % %
OPERATING INCOME
Interest income 62.4% 59.0% 75.2% 78.8% 71.1%
Interest paid/Profit Shared on deposits and borrowings, etc. 36.1% 43.9% 48.0% 49.6% 47.5%
Net interest income 26.3% 15.1% 27.1% 29.2% 23.6%
Investment income 27.8% 32.0% 14.2% 11.9% 18.7%
Commission, exchange and brokerage 7.1% 6.6% 8.3% 7.1% 8.0%
Other operating income 2.8% 2.4% 2.3% 2.2% 2.2%
Total operating income (A) 63.9% 56.1% 52.0% 50.4% 52.5%

OPERATING EXPENSES
Salary and allowances 16.5% 14.9% 13.4% 13.4% 11.6%
Rent, taxes, insurance, electricity, etc. 2.4% 2.5% 3.4% 3.7% 3.9%
Legal expenses 0.3% 0.1% 0.0% 0.0% 0.1%
Postage, stamps, telecommunication, etc. 0.4% 0.3% 0.4% 0.3% 0.4%
Stationery, printing, advertisement, etc. 2.7% 1.8% 1.1% 0.7% 0.7%
Chief Executive's salary and fees 0.1% 0.1% 0.2% 0.2% 0.2%
Directors' fees & meeting expenses 0.1% 0.1% 0.1% 0.2% 0.3%
Auditors' fees 0.0% 0.0% 0.0% 0.0% 0.0%
Charges on loan losses 0.0% 0.0% 0.0% 0.0% 0.0%
Replacement, Repair and Depreciation of Bank's Assets 3.1% 2.4% 1.7% 2.3% 2.8%
Other expenses 6.3% 6.6% 3.9% 3.7% 5.1%
Total operating expenses (B) 31.9% 28.8% 24.3% 24.7% 25.1%
Profit before provision (C = A-B) 32.0% 27.3% 27.7% 25.7% 27.4%
Provision against loans and advances 5.6% 9.8% 4.0% 4.1% 6.1%
Provision for diminution in value of investments 1.2% -1.2% 1.2% 0.4% 0.0%
Provision for Off-Balance Sheet Exposures 1.5% 0.6% 0.6% -0.1% 0.6%
Total provision (D) 8.3% 9.2% 5.8% 4.4% 6.6%
Profit before taxation (C-D) 23.7% 18.2% 21.9% 21.3% 20.8%
Provision for taxation 7.3% 6.2% 9.6% 8.5% 7.0%
Current Tax Expenses 9.2% 7.1% 10.2% 10.0% 9.8%
Deferred Tax Expenses/(Income) -2.0% -0.9% -0.7% -1.4% -2.8%
Net profit after taxation 16.5% 12.0% 12.3% 12.7% 13.8%

Appropriations:
Statutory reserve 4.7% 3.6% 4.4% 4.3% 4.2%
Retained surplus to retained earnings 11.7% 8.3% 7.9% 8.5% 9.6%

Vertical Analysis (Profit and Loss Statement)

Vertical Analysis on Profit & Loss statement refers to the component of Profit & loss statement items as a % of total profit/income over the periods
which would be termed as common sizing of income statement. In income side, interest income (62.40%) and investment income (27.80%) hold major
portion of total income. Contribution of interest income is decreasing trend from 2018, but increase of investment income helped the bank to increase
operating income over the last three years. Expansion of network push operating expense was upward trend since 2017.

70
DIRECTORS' REPORT
Bismillahaher Rahmanir Rahim At the same time, rapidly rising inflation in many parts of the world will
result in higher interest rates, limiting borrowing and constraining fiscal
Dear Fellow Shareholders space at exactly the time countries should be investing in jobs,
education, health care, and the green economy. For developing
I, on behalf of Board, am pleased to welcome you all to the 9th Annual countries already drowning in debt, this is a recipe for defaults and
General Meeting of the Bank after listing in the stock exchanges of prolonged economic distress. In this fragile and uneven period of global
historic trading on March 22, 2021. The Board of Directors is delighted recovery, the World Economic Situation and Prospects 2022 calls for
to present the Directors’ Report 2021 along with Audited Financial better targeted and coordinated policy and financial measures at the
Statements and Auditors Report for the year ended December 31, 2021 national and international levels.
for consideration and adoption.
The COVID-19 pandemic has significantly increased poverty and
The Board has reviewed the business and financial performance of the inequality globally, causing a Substantial reversal in progress towards
Bank during the year and highlighted all the major drivers behind our sustainable development. According to estimates by the United Nations
performance to give you a genuine insight about the Bank’s Department of Economic and Social Affairs, progress in reducing
performance and continuous growth in the competitive industry. The extreme poverty has been set back by several years in most countries.
Directors’ Report has been prepared in compliance with section 184 of
the Companies Act 1994, BSEC Notification No. BSEC/CMRRCD/2006- The COVID-19 pandemic triggered the largest drop in economic output
158/207/Admin/80, dated 03 June, 2018 of the Securities and since the Great Depression from 1929 to 1939. Yet ICT and digitally
Exchange Commission. Moreover, the Directors are pleased to explain enabled services have exhibited strong resilience since they allow
and disclose some issues, which they consider relevant to ensure individuals and businesses to operate remotely). Developing ICT and
transparency and practice of corporate governance in the operational digitally enabled services has been emerged as an important
activities of the bank. The Directors believe the Report will give real opportunity to move towards a post-pandemic recovery. Online market
insights of the bank’s performance during the year under review. place, Digital payment system, Digital health service has emerged as an
important factor in this pandemic era.
Global Economy
The world is now experience two years into the COVID-19 pandemic, Global Trade
and the global recovery from the pandemic was expected to continue in The positive trend for international trade in 2021 was largely the result
2022 and 2023, helped by continued progress with global vaccination of increases in commodity prices, subsiding pandemic restrictions and a
efforts, supportive macro-economic policies in the major economies, strong recovery in demand due to economic stimulus packages. As
and favorable financial conditions. The war in Ukraine will however these trends are likely to abate, international trade trends are expected
hinder global growth and aggravate inflationary pressures, creating a to normalize during 2022. Overall, the evolution of world trade in 2022
new negative supply shock for the world economy, just when some of is likely to be affected by the factors like, slower than expected
the supply-chain challenges seen since the beginning of the pandemic economic growth, continuing challenges for global supply chains,
appeared to be fading. The effects of the war will operate through many transition towards a greener global economy, rising concerns about
different channels, and are likely to evolve if the conflict deepens debt sustainability.
further.
Global trade growth remained strong during 2021, as its value
Global growth is expected to moderate from 5.9 in 2021 to 4.4 percent continued to increase through each quarter of 2021. Trade growth was
in 2022. Following a strong rebound in 2021, the global economy is not only limited to goods. Trade in services also grew substantially
entering a pronounced slowdown amid fresh threats from COVID-19 through 2021, to finally reach pre-pandemic levels during Q4, 2021.
variants and a rise in inflation, debt, and income inequality that could Overall, the value of global trade reached a record level of about US$
endanger the recovery in emerging and developing economies, 28.5 trillion in 2021, an increase of about 25 percent relative to 2020
according to the World Bank’s latest Global Economic Prospects report. and an increase of about 13 per cent relative to the pre-pandemic level
The slowdown will coincide with a widening divergence in growth rates of 2019.
between advanced economies and emerging and developing
economies. Behind the strong overall trade increase, however, there is significant
divergence across countries, with some developing regions falling well
The human, economic and social toll of the pandemic has been short of the global average. Trade has been a critical tool in combating
devastating. Rising poverty, job losses, shredded safety nets, health- the pandemic, and this strong growth underscores how important trade
care systems pushed to the brink, and the impacts of a changing climate will be in underpinning the global economic recovery
are placing the Sustainable Development Goals further out of reach.
Inequalities are intensifying, setting the stage for an uncertain, uneven Bangladesh Economy
and unfair recovery. In some countries, ambitious vaccination roll-outs Bangladesh economy has been consistently performing well with above
and bold economic support and stimulus packages are paving the way 6 percent of GDP growth. Unfortunately, country’s economic growth
towards recovery. But progress is not being shared equally. More than a was slowed due to the negative impact of COVID-19 pandemic.
quarter of developing countries have yet to achieve their pre-pandemic According to the provisional estimates of BBS, growth rate achieved in
levels of output, hampered by severely inadequate access to vaccines FY 2019-20 is 3.51 percent. In FY 2020-21, the estimated GDP growth
and limited financial resources. Job creation has been insufficient to target is 5.47 percent. According to provisional estimate of BBS, per
make up for earlier losses, with employment deficits disproportionally capita GDP and per capita national income stood respectively at US$
affecting women and youth. 2,097 and US$ 2,227 in FY 2020-21. The domestic savings stood 24.17

72
percent of GDP, and national savings stood at 30.39 percent of GDP for Agriculture Sector
the same period. The gross investment stood at 29.92 percent of GDP in At constant prices growth of agriculture and forestry sector under broad
FY 2019-20 where public investment and private investment accounted agriculture sector stood at 2.65 percent in FY 2020-21, which was 4.10
for 8.67 percent and 21.25 percent of GDP, respectively. In FY 2019-20, percent in previous fiscal year. During this period among the 3 sub-
the inflation rate was 5.65 percent. Of this, the food inflation was 5.56 sectors of broad agriculture sector the growth rate of crops &
percent and nonfood inflation stood at 5.85 percent. The inflation rate horticulture and Forest and related services sector has decreased
for FY 2020-21 was 5.4 percent. But the actual inflation rate reached at compared to previous fiscal year. The growth of agriculture and forestry
5.56 percent which was slightly higher than the estimate. Yet the sector i.e. crops and horticulture; animal farming; forest and related
Government’s continuous efforts to keep up the food supply chain services reached 1.59 percent, 3.80 percent and 6.12 percent
uninterrupted during COVID-19 pandemic worked well and helped to respectively in FY 2020-21, which were 3.47 percent, 3.56 percent and
keep the inflation under control. 7.36 percent respectively in previous fiscal year. The growth rate of the
fisheries sector has slightly decreased compared to previous fiscal year
The GOB had to undertake new expenditure and resource allocation namely 5.74 percent.
plan by setting new priorities in FY 2019-20 to deal COVID-19 pandemic
situation. The major objective was to minimize the impairment of the Industry Sector
pandemic by providing financial incentives. In the revised budget of FY Among the 4 sectors of broad industry sector, the growth rate of
2020-21, sectors those are directly involved with minimizing COVID-19 manufacturing and Electricity, Gas and Water supply and construction
outbreak, such as: health, agriculture, social welfare, food, disaster sector has increased comparatively. On the other hand, growth rate of
management, employment creation etc. received increased resource Mining and quarrying sector has slowed down significantly compared to
allocation. the previous fiscal year. Growth rate of industry sector is 5.6 percent in
FY2021 from 4.1 percent in previous fiscal year. Besides, growth of other
Different steps were implemented under an expanded monetary policy mining and coal sub-sector declined to 0.29 percent, from 0.97 percent
from FY 2020-21 for extending credit facilities in the private sector by in previous fiscal year. In FY 2020-21, growth of large and medium scale
reducing the repo rate from 5.25 percent to 4.75 and reverse repo rate manufacturing sub-sector increased by 5.17 percent from the previous
from 4.75 to 4 percent. The bank rate was also revised and reset by fiscal year to 6.56 percent. Likewise, growth of small scale
reducing 100 basis point to 4 percent to align with the declared interest manufacturing sub-sectors decelerated to 1.73 percent from 3.96
rationalization policy. The downwards trend of interest rate for both percent of previous fiscal year. Moreover, growth of 2 sub-sectors of
deposit and credit trend remains static. To attain a sustainable Electricity and water supply i.e. Electricity and water stood at 5.45
economic structure, the government has kept its constant efforts to percent and 5.21 percent respectively, compared to 1.91 percent and
creating access opportunities of financial services for all its grass root 5.00percent in previous fiscal year. On the other hand, growth in
level citizens, especially those who are yet to financially include. The construction sector slightly increased to 8.68 percent in FY 2020-21
capital market situation was found positively working in FY 2020-21 from 8.66 percent in the previous fiscal year.
though both Dhaka and Chattrogram Stock Exchange were volatile for a
while. Overall, there was a mentionable growth both in the capital and Service Sector
value index. The growth of broad index for Dhaka Stock exchange was According to the provisional data, In FY 2020-21 growth rate in broad
37.37 percent and for Chattrogram Stock exchange was 39.84 percent. service sector is increased by 1.45 percent to 5.61 percent as compared
The export sector has resumed back to a positive trend after to 4.18 percent in the previous fiscal year. The output of the ‘wholesale
overcoming the COVID-19 shock with the support of all the and retail trade’, ‘hotel and restaurants’ and ‘transport, storage and
interventions of the GOB. The export earnings growth was 15.1 percent communication’ sector under broad service sector registered
in FY 2020-21 than FY 2019-20. The amount was US$ 38,758.31 million, growth to 6.54 percent, 6.85percent and 6.07 percent respectively
which was US$ 33,674.21 million in FY 2019-20.The import payment in FY 2020-21; which were 4.03 percent, 1.75 percent and 3.67 percent
was also recommenced back in FY 2020-21 with 19.73 percent growth respectively in the preceding fiscal year. The growth of ‘Financial
than the previous year. A like FY 2019-20, remittance inflow was also intermediations’ sector increased to 4.31percent in FY 2020-21from
high in FY 2020-21. Due to this high inflow, during July-April of FY 2020- 3.09 percent in the previous fiscal year. However, the growth of
21, the current account balance deficit was US$ 47 million which was ‘public administration and defense’, ‘education’, ‘health and social
US$ 3,772 million in FY 2019-20. The total amount of remittance in FY works’ and ‘community, social and personal services’ sectors has
2020-21 was US$ 24,777.71 million which was 36.10 percent higher largely increased compared to the growth in previous fiscal year. On
(18,205 million) than the previous year. Foreign reserve amount in this the other hand the growth rate in the health and social works
period stood at US$ 46.39 billion. The exchange rate between Taka and sector slightly reduced to 9.94 percent compared to previous fiscal
US dollar remained static. year.

During FY 2020-21, domestic savings increased to 24.17 percent of

Foreign Direct Investment (FDI)
GDP, which was 23.77 percent in the previous year. Likewise, national
Over the past three decades, the key feature of economic policymaking
savings as percent of GDP increased to 30.39 percent in FY 2020-21
in many countries particularly in the developing world is attracting
percent from 28.67 percent of the previous fiscal year. The investment
foreign direct investment (FDI). FDI performs a multidimensional role in
has increased to 7.95 percent in FY 2020-21 as compared to 3.98
the overall development of the host economies. Most of the studies
percent in the previous fiscal year due to COVID-19 pandemic.
advocate a positive relationship between foreign direct investment and
However, public investment as a percentage of GDP has slightly
economic growth. FDI makes a vital contribution to growth and
accelerated and private investment as a percentage of GDP has slightly
development in Asia and the Pacific. Both domestic investment and
decelerated compared to the previous fiscal year. Gross investment
foreign investment are equally needful whereas domestic investment
stood at 29.92 percent in FY 2020-21, which was 30.47 percent of the
may lead to the creation of domestic savings, consumption &
previous fiscal year. Of this, public investment and private investment
employment and foreign investment can decrease the saving gap.
accounted for 8.67 percent and 21.25 percent of GDP, respectively,
Bangladesh is quite successful in attracting FDI inflows since the
which was 8.41 percent of GDP and 22.06 percent of GDP in the
inception of economic reform in 1995. The inflow of FDI has contributed
previous fiscal year, respectively.
significantly to the economic development of Bangladesh:

73
 In Million USD
Items 2020-21 2019-20 % age growth 2020-21 over 2019-20
FDI Gross Inflows 3386.86 3232.81 4.8
FDI Net Inflows (Equity capital inflows+ Re -invested earning+ Intra-company Loans 2507.31 2370.45 5.8
Of which Net Equity Capital inflows 816.17 727.93 12.1
Net FDI Stock as on June 19946.59 18721.69 6.5

Foreign Trade Operation conditions caused by the COVID-19 pandemic. Due to the lockdown
Bangladesh's economy is such that its GDP is led by the Export, Import, and other restrictive measures, Bangladesh lost the pace of internal
and Remittance. Bangladesh’s Economic growth has averaged more production as well as export earnings due to regional lockdown
than 6.00 percent over the last decade significantly lifting per capita during the first wave of the pandemic. However, while the pandemic
income. After the adverse effect of COVID-19 pandemic, foreign trade subsided and the economy started to recover in response to the
of Bangladesh has started to return to a positive trend: various policy measures taken by the government and Bangladesh
In Million USD
Bank, second wave of the pandemic hit again in April 2021. Despite
Particulars 2021 2020 % Change
being under enormous pressure created by the internal and external
Export 44,222 33,647 31.43% situations of the financial market, all scheduled banks of the country
Import 67,905 46,237 46.86% remained operational for normal business hours or for specified time
Remittance 22,070 21,742 1.51% in every working day during the lockdown period to provide regular
banking services to their customers throughout the pandemic over
Banking Sector in Bangladesh the last one year and a half. To assist the scheduled banks and non-
Banking sector was to maintain its resilience and stability of financial bank financial institutions (NBFIs) to survive in this critical situation
system as well as to support the government initiatives of recovering and to continue their contribution in revamping the country's
the economy from the challenging domestic and global market economy.

Deposit and Advance Position of Scheduled Banks (In percent)

Year-on-Year growth of deposits, % Year-on-Year growth of advances, %
Advance Deposit Ratio
Bank Groups Excluding Interbank Excluding Interbank
Dec.21 Sep.21 Dec.21 Sep.21 Dec.21 Sep.21
SCBs 11.2 21.6 14.5 14.7 57.9 54.8
PCBs 9 9.1 10.5 9.9 80.2 80.2
FCBs 6.4 4.3 10.2 7.4 56.4 54
SBs 18.1 22 7.7 10.2 70.2 70.5
All 9.7 12.3 11.1 10.7 73.2 72.1

Key items of Monetary Program (Y-to-Y growth in %)

Item Actual Program
Jun.20 Dec.20 Jun.21 Dec.21 Jun.22
Net Foreign Assets 10.2 30.4 27.1 13 10.4
Net Domestic Assets 13.4 9.9 9.8 14.1 16.5
Domestic Credit 13.7 9.7 10.3 14.1 17.8
Credit to the Public Sector 53.4 17.2 21.2 30.6 32.6
Credit to Private Sector 8.6 8.4 8.4 11 14.8
Broad Money 12.7 14.3 13.6 13.8 15
Reserve Money 15.7 21.3 22.4 14 10
Money Multiplier 4.84 4.87 4.49 4.86 4.69

Following the current stance of expansionary fiscal policy of the government specially for combating the COVID-19 fallout, the public and the private
sector growth are projected to be annually grown by 32.6 percent and 14.8 percent respectively at the end of June 2022.

Financial Highlight of NRBC Bank in 2021

After the adverse effect of COVID-19 pandemic, economic activities NRBC Bank passed another year of consolidation and compliance and,
has started to return to a positive trend in the mid of 2021. Indicators at the time, Bank exceeded the landmark Tk. 400.00 Crore Operating
of the banking sector exhibited a mixed performance at the end of Profit. Apart from above, Expansion program of the bank continued to
FY21, as reflected by the rising non-performing loans (NPLs), bring more people under modern banking facilities. Financial highlight
decreasing interest income, and the improvement of liquidity of 2021 for considering Audited Financial Statement by the
conditions, stable capital adequacy, and moderate provision shareholders in the 9th AGM:
maintenance. Despite huge challenges faced by the Banking sector,

74
B1.0: Management of Liquid Asset assets and liabilities management, cash management, and financial
Effective liquidity management helps ensure a bank's ability to meet its risk management. NRBC Bank treasury Division usually conform cash
obligations as they fall due and reduces the probability of an adverse reserve requirements, ensure proper management of liquidity, and
situation developing. Banks are often evaluated on their liquidity, or minimize interest rate risk on the Bank’s statement of Financial
Position.
their ability to meet short term obligations without incurring
substantial losses. In either case, liquidity management describes the The Table below depicts the scenario of steady growing of investment
effort of investors or managers to reduce liquidity risk exposure. The over the years. The table exhibits an upward movement of Investment
decisive objective of liquidity management is to ensure maximum In the year 2021. Total investment increased by 8.24 percent over the
utilization of resources. If bank holds liquid assets more than industry preceding year. Investment Increased to diversify the investment

Figure in million(BDT) unless otherwise specified

Year 2021 2020 2019 2018 2017
Liquidity Coverage Ratio( LCR) 132.83% 164.95% 131.89% 148.83% 109.30%
Net Stable Funding Ration (NSFR) 101.59% 101.13% 107.54% 113.80% 112.95%
Cash in Hand & Cash Equivalent 12,693 9,592.95 7,870.16 6,612.43 5,501.74
Cash Reserve Requirement (CRR) 4.00% 4.00% 5.50% 5.50% 6.61%
Cash to Deposit Ratio 7.09% 6.76% 8.12% 7.56% 8.71%
Balance –Other Banks and Financial Institutions 4,547.85 3,501.04 2,034.56 2,524.68 1,550.03

average then it is under utilizing its asset. If bank holds liquid assets less Portfolio which will minimize risk and Maximize Profit. Ratio of
than industry average then it are taking too much risk. Liquidity Investment in Government Securities/ total Investment is 80.81
management refers to holding liquid assets in such a way that will percent. Net Treasury Income appreciated by 5.48 percent in the year of
ensure proper utilization of asset and meeting short term obligation. 2021. Bank invests in Government Securities because of stable return
and highly liquid nature of it.
NRBC Bank holds of Tk.164.95 liquid assets against Tk.100 Short term
obligation that shows the strength of the bank of meeting short term B3.0: Loans and Advances
obligation. As per net stable funding ratio Bank hold enough stable Loans and advance/Investments are the most substantial earning source
funding to cover the duration of their long-term assets of bank. Bank’s Success is contingent upon the success of revenue
generating ability of its loans & advance/investments. Bank’s profitability
According to MPD Circular No. 01 dated 03 April 2018 of Bangladesh Bank, depends on the asset quality, or on revenue generating ability.
Cash Reserve Requirement is 3.50% on daily basis and 4.00% on bi-weekly
basis of Average Time and Demand Liabilities and, accordingly, NRRBC Loans and Advance/Investments of Bank increased and stood at BDT
Bank complied with it. 104,898.31million, which was BDT 74,835.73 million in preceding year.
The table depicts and 40.17 percent growth of credit over that of 2020.
B2.0: Fund Management The graph depicts an increasing trend of number of loan account over
Funds management is the overseeing and handling of a financial the five years period. Number of loan account increased by 44.27
institution's cash flow. The fund manager ensures that the maturity percent in the year 2021 from the preceding year 2020.
schedules of the deposits coincide with the demand for loans. To do
Figure in million(BDT) unless otherwise specified
Year 2021 2020 2019 2018 2017
Total Investment 28,541.08 26,367.84 15,298.17 8,276.75 6,495.12
Investment In Govt. Securities 23,063.36 24,141.74 12,715.43 6,151.26 4,903.78
Ratio of Govt. Investment to Total Investment 80.81% 91.56% 83.12% 74.32% 75.50%
Net Treasury Income 3,572.61 3,386.85 1,486.06 877.88 1,236.00

this, the manager looks at both the liabilities and the assets that Bank also achieved the target of SME, Women Entrepreneur Loan and
influence the bank's ability to issue credit. Fund management in Agricultural loan set by Bangladesh Bank. The Bank approved loan
Bank is primarily done by Treasury Management division which application on the basis of its merit, credit worthiness, security
oversees five core areas: (a) asset liability management (ALM), (b) market reputation etc. This Prudential credit management team
trading and hedging, (c) portfolio management, (d) funds transfer helps the bank to build a healthy assets portfolio and to attain quality
pricing (FTP), and (e) company-wide integration projects. The growth.
Treasury division focuses on its three core responsibilities, such as

Figure in million(BDT) unless otherwise specified

Year 2021 2020 2019 2018 2017
Loans & Advance/Investments 104,898 74,836 62,015 48,118 42,961
AD Ratio 86.82% 78.66% 82.54% 85.91% 93.07%
% of Large loan 34.89% 44.25% 44.70% 45.68% 43.20%
Number of loan Account 28,063 19,452 15,317 13,357 9,820

75
 Figure in million (BDT) unless otherwise specified
Sector 2021 % 2020 %
Agricultural Industry 1,615.82 1.54% 503.58 0.67%
Textile 3,299.37 3.15% 2,396.79 3.20%
RMG 10,899.65 10.39% 9,256.04 12.37%
NBFI 872.82 0.83% 859.41 1.15%
Food 557.69 0.53% - 0.00%
Beverage 584.17 0.56% 288.80 0.39%
Pharmaceutical 105.08 0.10% 10.27 0.01%
Chemical - 0.00% - 0.00%
Electrical 1,499.36 1.43% 929.21 1.24%
Construction 5,450.19 5.20% 3,316.22 4.43%
House Building Residential 4,965.87 4.73% 2,060.31 2.75%
Leather 666.65 0.64% 48.32 0.06%
Service Industry 6,525.09 6.22% 4,910.80 6.56%
Transport 280.44 0.27% - 0.00%
Basic Metal - 0.00% - 0.00%
Capital Market 1,408.75 1.34% 800.84 1.07%
Car loan 0.05 0.00% 2.74 0.00%
Insurance 148.23 0.14% 120.08 0.16%
Consumer Finance 6,613.84 6.31% 3,441.13 4.60%
Printing 1,388.82 1.32% 238.86 0.32%
Ship Breaking 1,670.14 1.59% 1,011.35 1.35%
SME 33,784.97 32.21% 28,632.36 38.26%
Staff Loan 761.83 0.73% 639.65 0.85%
Steel 2,638.70 2.52% 1,497.13 2.00%
Trade Industry 9,337.29 8.90% 6,024.91 8.05%
Card 698.81 0.67% 713.67 0.95%
Other Manufacturing Industry 7,330.94 6.99% 6,335.89 8.47%
Others 699.11 0.67% 43.47 0.06%
Total 104,898 100.00% 74,835.73 100.00%

SME, RMG, Trade Finance and other manufacturing industry are B4.0: Deposits Mobilization through our network
prominent sectors where bank lends most of its loan-able fund. Bank Banking sector mobilizes deposit from surplus unit and deploy to deficit
diversified its loan portfolio by lending money in textile, service unit. Surplus economic unit deposits money in Bank. Deposit is, in fact, a
industry, consumer finance, and steel industry as well. Bank liability item in the Balance Sheet, given that the bank does not own it. It
diversified its Asset portfolio and reduced dependency on corporate retains the deposit of its customer as custodian. But truly speaking, it is the
borrower by focusing on retail, CMSME, and Micro Sector. Corporate lifeblood of banking business and as such Bank accepts /procures deposits
or Large Depositors and Borrower pose higher risk on Bank’s Asset in two broad categories- Demand Deposit and Time Deposit. Deposit
Figure in Crore (BDT) unless specified otherwise
Year
Division
31 December, 2021 31 December, 2020 31 December, 2019 31 December, 2018
Dhaka 76,884.60 73.29% 56,143.90 75.02% 34,809.80 72.34% 30,933.6 85.36%
Chittagong 11,162.90 10.64% 9,690.6 12.95% 8,038.9 16.71% 6,973.2 16.23%

Liability portfolio. Corporate customers are highly price sensitive growth in the country’s banking sector was 13.80 per cent in 2021, while the
and probability of default for corporate customers is higher as well. growth rate was 12.61 per cent in Shariah-based banks. As per Bangladesh
Bank intends to reduce its concentration risk by avoiding a single Bank data Shariah based Banking is holding 27.00 percent of total Market
counter party of sector that poses higher risk on its Asset Liability share of total deposit. View to mobilizes fund from surplus economic unit
Portfolio. Concentration risk primarily applies to the Asset Side of and deploy those to deficit economic units, NRBC bank opened eight (10)
the Balance sheet. Bank emphasized on retail, CMSME, and Micro new Branches, One Fifty Four (154) Banking Sub-Branches, One Thirty One
Sector to lend money through Branches and Sub Branches operating (131) Micro Finance Sub Branches. Bank earlier opened Fifty Four (54)
all over the country. Substantial Portion of the loans and Banking Sub Branches, Two Hundred Seventy Six (276) Land Registry
advance/Investment Customers of NRBC Bank are from Dhaka and collection booths, Twenty Four (24) BRTA Collection Booths, and number of
Chittagong division that pose a concentration risk on our total loan agent points to bring unbanked people in the banking channel in line with
portfolio. Sub Branches opened in different area of the country the notion of Financial Inclusion. Deposit of Bank and number of Deposit
mobilized Asset and reduced risk arising from investment from Account Increased by 27.39 percent and 49.75 percent respectively over
geographical concentration risk. that of preceding year. Deposit and Number of Deposit Account Increased
significantly because of expansion of network, and mobilization deposit
from individual savers instead of corporate savers.

76
 Figure in million (BDT) unless otherwise specified
Year 2021 2020 2019 2018 2017
Deposits 120,826.81 90,177.26 71,857.90 54,083.28 45,236.44
Cost of Deposit 4.25% 5.53% 6.98% 7.27% 9.25%
Number of Deposit A/c 789,099 526,943 370,731 257,053 163,990
% of low cost deposit mixing (CASA) 48.61% 41.64% 35.22% 28.96% 29.08%

Cost of Deposit is one of the most dominant cost factors for Bank. It is which helps NRBC Bank to overcome the image crisis, faced by the bank
the amount of Money that the Bank spent in order to acquire money to in 2017.
lend to its customers. Bank extended its network with a view to
mobilizing Low/No cost Deposit or CASA deposit to bring the weighted The Higher the portion of Low/No Cost Deposit in the Deposit basket,
the Lower will be the Cost of Deposit (CoD), the higher will be the spread
Average Cost of Capital down. Bank made it possible by expanding it
between Yield on Advance (YoA) and Cost of Fund(CoF). In the year
coverage in the area where people are not interest rate sensitive. In
2019, Portion of Low/No Cost Deposit in the Deposit Mix is 35.22
urban area, people are very much interest rate sensitive, but in rural percent but by grabbing the untouched Market bank mobilized deposit
area people are not behave the same. As the benediction of expansion relatively at a lower rate and Bank ended the year 2021 with 48.61
Bank has been able to mobilized deposit at a relatively lower rate of percent No/Low Cost Deposit of its Deposit Portfolio
interest that helped the bank to increase its profitability. A comparative
position of Cost of Deposit (CoD) is shown below: A comparative scenario of Deposit Mix of the Last three years is given
below:
Particular 2021 2020 2019
No Cost Deposit 23,412.91 11,990.42 9,437.35
No Cost as % of Total Deposit 15.20% 13.30% 13.13%
Low Cost Deposit 38,379.73 25,558.33 15,870.96
Low Cost as % of Total Deposit 33.41% 28.34% 22.09%
Total No Cost & Low Cost Deposit 55,840.72 37,548.74 25,308.21
No Cost & Low Cost Deposit as % of Total Deposit 48.61% 41.64% 35.22%
High Cost Deposit 59,034.21 52,627.45 46,549.55
High Cost Deposit as % of Total Deposit 51.39% 58.36% 64.78%
Total Deposit 120,826.81 90,177.26 71,857.90

Growing number of accounts takes banks closer to people. Although High Cost deposit is 44.97 percent of total Deposit Mix. High Cost
there is no clear data on the number of unbanked people in Bangladesh, Deposit is gradually decreasing and No/Low cost Deposit is
different research hints that more than 40 percent of the population increasing. In the year 2020, Time Deposit (FDR & Scheme) was 48.69
remains out of the formal financial system. NRBC Bank focused on this percent of total deposit, but in the 2021, Time Deposit (FDR &
untouched market and expanded its network to bring the banking Scheme) reduced to 44.97 percent. Time Deposit is gradually
services at the doorstep of the said Segment. Number of accounts has decreasing and Demand deposit is increasing in the Deposit mix over
been on the rise in the last few years. Number of Accounts increased by the years, which reduces the Cost of Deposit, Cost of Fund, and
52.11 percent in the year 2021 over that of preceding year and by increase profitability.
378.18 percent over that of year 2017. More and more people are
getting closer to the Banks with the increasing the Number of Accounts

Particular 2021 % 2020 %

Current Deposit 136,817.74 11.91% 7,936.30 8.80%
Savings Deposit 120,755.96 10.51% 7,362.80 8.16%
Short Notice Deposit 119,413.82 10.40% 9,465.93 10.50%
Fixed Deposit 286,309.10 24.92% 15,096.81 16.74%
Deposit Under Scheme 230,263.81 20.04% 28,812.64 31.95% Current Deposit
Others 261,140.5 22.21% 21,502.78 23.85% Savings Deposit Short Notice Deposit
Total 120,826.81 100.00% 90,177.26 100.00% Deposit Under Scheme Fixed Deposit

Figure in million (BDT) unless otherwise specified

Particular 2021 2020 2019 2018 2017
Shareholder Equity 11,808.62 9,797.5 8,189.94 7,047.61 6,410.80
Regulatory Capital 16,069.33 10,391.2 8,907.26 7,357.66 6,780.60
NAV (Tk.) per share 16.01 16.82 14.36 13.71 13.00
Capital Surplus/(Deficit) 1,133.97 16.5 514.57 1,130.82 1,164.20
Risk Weighted Assets 119,482.86 82,997.7 66,462.20 52,565.30 49,922.70
Capital Adequacy Ratio 13.45% 12.52% 13.40% 14.03% 13.58%
Capital - Core (Tier I) 11,080.48 8,594.2 7,883.21 6,778.83 6,235.40
Capital - Supplementary (Tier II) 4,988.85 1,797.0 1,024.04 592.83 545.1

77
B5.0: Net Assets Value to the shareholders B6.0: Economic Value Added (EVA)
Shareholders' equity represents the net worth of a company, which is EVA measures the company's financial performance based on the
the amount that would be returned to shareholders if a company's residual wealth calculated by deducting its cost of capital from its
total assets were liquidated and all of its debts repaid. This financial operating profit, adjusted for taxes on a cash basis. EVA is used to
metric is frequently used by analysts to determine a company's measure the value a company generates from funds invested in it. If a
general financial health. Equity and capital are growing consistently company's EVA is negative, it means the company is not generating
over the years. In the 9th AGM, the shareholder approved 7.50 value from the funds invested into the business. Conversely, a
percent stock dividend and 7.50 percent cash Dividend recommended positive EVA shows a company is producing value from the funds
by the Board of Directors. Consistent Increasing Trend of equity, invested in it.
capital and Net Asset Value (NAV) of the bank reflect its financial
Strength of the bank. The table depicts that EVA is gradually increasing over the years.
NRBC Bank is producing value for the fund invested in it. If the fund
Bank has maintained Capital Adequacy Ratio of 13.45 percent which is invested in Bank, invested in Government Securities (Savings
higher than minimum capital requirement for the year 2021 which is Certificate) at the 11.0 percent with 2.0 percent risk premium, return
above of BASEL Minimum Capital requirement 12.50 percent of Risk generated at the rate 13.0 percent is lower that return generated by
weighted Assets (RWA). This Minimum Capital Requirement (MCR) is the bank, eventually Bank generates positive and gradually
the protect depositor Interest and to ensure stability and efficiency of increasing Economic Value Added (EVA).
Financial System.
Figure in million (BDT) unless otherwise specified
Economic Value Added (EVA)
Particular 2021 2020 2019 2018
Invested Fund by the shareholders
Shareholders' Equity 11,808.62 9,797.54 8,189.94 7,047.61
Add: Cumulative Provision for Loans/ Investment/ Off Balance 3,951.27 2,899.23 1,207.67 1,326.32
Sheet Exposures/ Offshore Banking Units & Others
Total Invested fund by the Shareholders 15,759.89 12,696.77 9,397.61 8,373.93
Average Invested fund by the shareholders (A) 14,228.33 11,047.19 8,885.77 7,860.39
Earnings for the year
Profit after Taxation 2,083.94 1,342.83 1,148.26 934.34
Add: Provision for Loans/Investment, off balance sheet items and 3,002.42 1,028.27 544.64 326.88
offshore banking units
Less: Written off during the year - - - -
Earnings for the Year (B) 5,086.36 2,371.10 1,692.90 1,261.22
Cost of equity (On the basis of the weighted average annual rate for 13% 13% 13% 13%
Savings Certificate (SC) plus 2% risk premium)[C]
Cost of Average Equity (D= A X C) 1,849.68 1,436.13 1,155.15 1,021.85
Economic Value added (B-D) 3,236.68 934.96 537.75 239.37

Net Assets Value (NAV) per share reaches at Tk.16.01 per share. B7.0: Comparative Financial Metrics
Consistent Increase of equity and Capital augment Net Asset Value Banks perform various types of transactions and activities to support
(NAV)/Share and Investors consider the Bank Worthwhile for their banking business. These transactions may include making or
Investment. accepting payments, trading, clearing and settlement of accounts,
and custody. The key operational activities include Acceptance of
The table shows a climb in Equity, Capital and Risk Weighted Assets by Deposits, Lending of Funds, Clearing of Cheques, Remittance of
20.53 percent, 54.64 percent and 43.96 percent respectively. The Bank Funds, Lockers & Safe Deposits, Bill Payment Services, Online
also maintained the incremental growth of the Risk Weighted Assets by Banking, Credit & Debit Cards, Overseas Banking Services, Wealth
ensuring diversification of the portfolio in SME, Micro Credit, Retail and Management, Investment Banking, and Social Objectives. Banking
Corporate segments.

Figure in million (BDT) unless otherwise specified

Particulars 2021 2020 % Change 2020 2019 % Change
Total operating income 8,097.16 6,300.05 28.53% 6,300.05 4,810.69 30.96%
Total operating expense 4,042.70 3,232.06 25.08% 3,232.06 2,223.55 45.36%
Operating profit (Profit before provision and tax) 4,054.46 3,068.00 32.15% 3,068.00 2,587.14 18.59%
Profit before tax for the year (PBT) 3,002.42 2,039.73 47.20% 2,039.73 2,042.51 -0.14%
Tax provision 918.48 696.90 31.79% 696.9 894.24 -22.07%
Profit after tax (PAT) 2,083.94 1,342.83 55.19% 1,342.83 1,148.26 16.94%
Earnings per share (EPS) 2.83 1.82 (Restated*) 55.49% 1.82 (Restated*) 1.55 (Restated*) 17.41%
Cost income ratio 49.93% 48.70% 1.23% 51.30% 46.22% 5.08%
Return on investment (ROI) 20.83% 15.28% 5.55% 16.11% 15.04% 1.07%
Return on assets (ROA) 1.68% 1.34% 0.34% 1.42% 1.47% -0.04%
*Restated by no. share 737,642,848 outstanding as of December 31, 2021 for comparative analysis

78
operation involves, the legal transactions executed by bank in daily ensure its existence in every corner across the country. It is working to
business such as mobilizing fund, providing loan, mortgage and create employment opportunities and promote economic Growth of
investment, depending on the focus and size of the bank. In other the country.
word practice and procedure that bank use to ensure customers
transaction are completed accurately and appropriately. Income of NRBCBSL offers stock brokerage services to local and international
bank is generated from four (04) main sources, which Income from institutions and retail clients. It especially provides one-stop services to
loans and advances, Investment Income, Commission and fee based Non-resident Bangladeshis (NRB).To ensure client’s satisfaction;
Income, and other operating income. Expenditure can be categorized NRBCBSL is always one step ahead and ready with state of the art
into two (02) categories, which are interest paid on deposit and technology and innovative services. Prioritizing information
borrowings and operating expenses. The table shows some infrastructure NRBCBSL wants to lead from the front when it comes to
indicators to compare the performance of the bank between two value investing, algorithmic trading and predictive analysis in
periods Bangladesh Capital Market.

The table depicts that operating income of the bank increased by 25.08 Interest Income and investment income of the group increased
percent and Operating Profit increased by 32.15 percent. Though significantly and Interest Expenses decreased pointedly. As a result
operating expenses increased by 25.08 percent but proportionate operating profit of NRBC Group is increased by 40.58 percent over the
increase in operating income is higher than proportionate increase in preceding year and profit after tax increased by 64.93 percent.
operating expenses. Profit before tax for the year (PBT) increased by Operating profit of NRBC Bank Increased by 32.15 percent and Profit
55.19 percent due lower amount of provision maintained for after tax increased by 55.19 percent over that of preceding year. Cost
degradation of Asset Quality, eventually Bank ended the year with Income Ratio decreased and reached at 48.61 percent because
higher Earnings per share (EPS), Return on investment (ROI), and Return operating expenses of the bank increases due to expansion of network
on assets (ROA). all around the country.

B8.0: NRBC Group’s Performance Versus NRBC Bank’s Net Asset Value of the NRBC Group is 16.25 per share, whereas Net
Performance Asset Value of NRBC Bank is 16.01 per share. NRBC Bank holds 98.26
NRBC Group Consists of NRBC Bank Limited and NRBC Bank Securities percent of the group consolidated Balance Sheet.
Limited is a subsidiary of NRB Commercial Bank Limited. NRBC Bank is
operating all over the country through its 83 branches, 202 Banking Return on Equity (ROE) increased and stood at 20.83 percent and Return
Sub Branches, 131 Micro Finance Sub Branches, 24 BRTA Collection on investment (ROI) decreases and reaches at 1.68 percent. Upward
Booth, & Sub-registry booth and three (03) strategic agent banking trend in Return on Asset (ROE) and Return on equity (ROE) reflects proper
partners who have 567 sub-agent points all over the country. utilization of bank’s asset and Equity. Increasing Net Assets Value
Expansion of Network positively contributes to the mobilization of
(NAV)/Share reflects increased net worth of the bank. The higher Earnings
deposit, resulting in the creation of credits by the banking system.
per Share (EPS) exhibit the higher profitability/ share of the bank.
Branch expansion means creation of future market for banks,
tapping the untouched market where opportunities exist to
grow or prosper. NRBC Bank has taken an all-out effort to position the B9.0: NRBC Group’s Performance versus NRBC
bank as mid-sized player in the industry in line with its slogan ‘Building Subsidiary’s Performance
Market Share”. Bank expanded its area of operation from The Contribution NRBC Bank Securities is performing better gradually.
Conventional Branch Banking to Sub Branch Banking. Bank started Group performance of NRBC and its Subsidiary Company NRBC Bank
Micro Finance Banking together with SKS Foundation to bring Securities limited is tremendous, according to consolidated financials of
unbanked people under the umbrella of NRBC Bank, moreover to NRBC Bank Limited on 31 December 2021. NBRC Bank and NRBC Bank

Figure in million (BDT) unless otherwise specified

Particular Group NRBC Bank Ltd
2021 2020 Change (%) 2021 2020 Change (%)
Interest Income 7,983.72 6,639.51 20.25% 7,902.90 6,620.95 19.36%
Interest Expenses 4,569.46 4,923.93 -7.20% 4,569.46 4,923.93 -7.20%
Investment Income 3,602.14 3,595.20 0.19% 3,521.19 3,586.65 -1.83%
Non-Interest Income 1,465.41 1,059.29 38.34% 1,242.53 1,016.38 22.25%
Non-Interest Expenses 4,123.11 3,269.63 26.10% 4,042.70 3,232.06 25.08%
Total Income 13,051.27 11,294.00 15.56% 12,666.62 11,223.98 12.85%
Total Expenses 8,692.57 8,193.56 6.09% 8,612.16 8,155.99 5.59%
Operating Profit 4,358.70 3,100.44 40.58% 4,054.46 3,068.00 32.15%
Provision for Loans and Others 1,077.12 1,008.38 6.82% 1,052.04 1,028.27 2.31%
Profit Before Tax 3,281.58 2,092.06 56.86% 3,002.42 2,039.73 47.20%
Provision for Tax 998.08 707.53 41.07% 918.48 696.90 31.79%
Profit After Tax 2,283.49 1,384.53 64.93% 2,083.94 1,342.83 55.19%
Cost income ratio 48.61% 51.33% -2.72% 49.93% 51.30% -1.37%
Return on Equity (ROE) 20.83% 15.28% 5.55% 20.83% 15.28% 5.55%
Return on assets (ROA) 1.68% 1.34% 0.34% 1.68% 1.34% 0.34%
Cost of Deposit 4.25% 4.95% -0.70% 4.25% 4.95% -0.70%
Net Assets Per Value 16.25 16.88 -3.73% 16.01 16.82 -4.82%
Earnings Per Share 3.07 2.37 29.50% 2.83 2.31 22.55%

79
Securities limited contributed in group profit by 93.02 percent and 6.98 Operating Profit Margin and Net Profit Margin increased by 4.49
percent respectively. Operating Profit and Net Profit after tax increased percent and 4.67 percent respectively over those of preceding year. The
by 838.30 and 378.73 percent respectively. Balance sheet size of NRBC table exhibits a declining trend in asset turnover ratio and upward trend
Securities increases by 79.65 percent which comprises 1.74 percent of in case of financial leverage/Equity multiplier.
group Balance sheet

Figure in Million (BDT) unless otherwise Specified

2021 2020
Particulars
NRBC Subsidiary Consolidated NRBC Subsidiary
Consolidated Cash in Hand & at Bank 12,735.02 10.02 12,745.04 9,592.95 196.48 9,473.47
Investment 28,541.08 340.43 28,881.51 26,367.84 359.36 26,727.20
Loan & Advances 104,898.31 2,000.29 105,490.58 74,835.73 848.30 74,887.43
Fixed Assets 1,828.38 9.42 1,837.80 835.06 5.85 840.91
Others Assets 5,443.98 252.36 5,335.02 4,854.04 86.71 4,579.46
Borrowing 7,287.22 1,662.97 7,542.17 4,133.97 - 4,133.97
Deposits 120,826.81 106.86 114,947.26 90,177.26 213.00 90,074.31
Other Liabilities 16,581.67 317.76 - 12,511.64 45.40 12,555.75
Shareholder Equity 11,808.62 3.15 11,989.74 9,797.54 44.17 9,879.24
Balance Sheet Size 153,552.38 2,688.84 154,437.41 116,620.41 1,496.70 116,643.27
Operating Profit 4,054.46 304.24 4,358.70 3,068.00 32.42 3,100.44
Profit after Tax 2,083.94 199.55 2,283.49 1,342.83 41.68 1,384.53

The table exhibits’ the nominal contribution of subsidiary’s contribution Efficiency of utilization of total assets turnover decreased compared to
to the group. Components of statement of financial position and 2020 due to lower yield of Loans & Advance/Investment and
statement of profit and loss indicates nominal role to the consolidated deterioration of quality of loans & Advance. Bank is highly levered firm
financial statements. Size of balance sheet is only 1.74 percent of NRBC and financial leverage/equity multiplier increased by 10.09 percent but
Bank limited. Loans &Advance, Equity, and operating profit are 1.90, Bank is capable of paying its interest payment against the deposit
0.03 and 6.98 percent respectively of group Consolidated Financial mobilized by the Bank.
Statements.
Figure in million (BDT) unless otherwise specified
Particulars 2021 2020 2019 2018 2017
DuPont 18.52% 14.16% 14.62% 12.38% 15.31%
ROE (Shareholder Return) 20.83% 15.28% 15.04% 13.88% 15.30%
Net Profit margin 16.45% 11.96% 12.30% 12.68% 13.92%
Total Asset turnover 0.0938 0.1086 0.1188 0.1186 0.1201
Financial Leverage/Equity multiplier 12.0034 10.9030 10.0035 8.2316 9.156
Tax effect 69.41% 65.83% 56.22% 59.73% 66.46%
Operating Profit Margin 32.01% 27.33% 27.70% 25.79% 27.60%

B10.0: Multiplier Analysis

DuPont analysis is a useful technique used to decompose the drivers of B11.0: Trend Analysis of Financial Performance of five Year
return on equity (RoE). Investor can use DuPont analysis to compare the (05) years
operational efficiency of Banks. It is important to determine the factors Almost all the financial indicators show an increasing trend over the
have an effect on the profitability. previous period. Operating profit, profit before tax, and profit after tax
show increasing movement over five (05) year period.

Figure in Million(BDT) Unless otherwise Specified

key operating and financial data 2021 2020 2019 2018 2017
Loans & Advances 104,898.31 74,835.73 62,015.02 48,117.78 43,000.28
Deposits 120,826.81 90,177.26 71,857.90 54,083.28 45,236.44
Equity 11,808.62 9,797.54 8,189.94 7,094.31 6,410.80
Balance Sheet Size 153,552.38 116,620.41 90,118.08 67,142.86 57,529.35
Total Contingent Liabilities &Commitments 53,600.42 35,483.89 27,408.20 19,455.25 16,591.43
Import 42,370.77 30,579.76 332,206.16 26,229.88 24,786.54
Export 30,652.26 28,070.50 292,160.01 25,091.91 22,459.69

80
 Figure in Million(BDT) Unless otherwise Specified
key operating and financial data 2021 2020 2019 2018 2017
Remittance 10,820.93 4,089.41 20,938.62 996.19 399.3
Operating Profit 4,054.46 3,068.00 2,587.14 1,889.26 1,841.92
Profit Before Tax 3,002.42 2,039.73 2,042.51 1,562.38 1,397.82
Profit After Tax 2,083.94 1,342.83 1,148.26 934.34 928.94
Earnings Per Share 2.83 2.31 2.01 1.82 1.89
Diluted Earnings Per Share 2.83 1.96 - - -
Capital - Core (Tier I) 11,080.48 8,594.24 7,883.21 6,778.83 6,235.42
Capital - Supplementary (Tier II) 4,988.85 1,796.99 1,041.54 592.83 545.13
Total Capital 16,069.33 10,391.24 8,979.65 7,371.66 6,780.55
Capital Surplus/(Deficit) 1,133.97 16.53 514.57 1,130.82 1,137.39
Statutory Reserve 2,467.27 1,866.79 1,458.84 1,050.34 737.87
Retained Earnings 1,879.43 1,294.95 1,015.13 841.32 730.51
Capital Adequacy Ratio 12.52% 12.52% 13.27% 14.03% 13.52%
Cost income ratio 49.93% 51.30% 46.67% 49.15% 47.76%
Return on investment/Equity (ROI/ROE) 20.83% 15.28% 15.04% 13.89% 15.30%
Return on assets (ROA) 1.68% 1.34% 1.47% 1.50% 1.67%
Cost of Deposit 4.25% 4.95% 6.98% 7.27% 6.47%
Loan Deposit Ratio 86.82% 78.66% 82.54% 85.91% 92.18%

All the indicators of statement of financial position such as loans& technique includes Back to Back Letter of Credit, Export time loan,
Advances, deposit, equity and balance sheet size reflects positive Export Cash Credit Hypo, overdraft, EDF Loan, FDBP, Loan against
growth over the previous year, that exhibits the strength of NRBC accepted bills, and IDBP
Bank limited. Indicators of income, expenditure, profit, Earnings per
Share (EPS) reflect positive trends over the five year period. Loans NRBC Bank Import finance includes Import Pant & Machineries, Raw
&advance, Deposits, Equity, and Balance sheet Size increased by Material, Trading Goods, Spare &Parts and all permissible item
40.17 percent, 27.39 percent, 20.53 percent, and 31.67 percent manufacturing trading, service industry and users, and pay Import
respectively. duty. Bank is receiving Foreign Remittance through Western Union,
Xpress Money, Ria, Placid Express and Moneygram in a simple and
Return on Asset (RoA) and Return on Equity (RoE) increased faster way. All the branches of NRBC Bank and its Agent Banking
significantly. Indicators measuring regulatory capital such as Tier-1 & points are now capable to receive Foreign Remittance instantly
Tier-2 Capital of the bank are rising gradually and bank has through online from any countries of the world.
adequate capital surplus. Credit is growing by maintaining credit
Deposit ratio set by the regulator. Management is very much A snapshot of Export, Import and remittance of Bangladesh over the
concerned about Non Performing Loan (NPL) and a task force has year:
been formed to curve down the NPL. The Board of Directors oversees
the Non-Performing loan (NPL) position regularly and provides The table depicts import and export increased by 38.56 percent and
necessary directives. 9.20 percent respectively as the economy is recovering from
economic crisis exacerbated from by the closure of limited operation
B12.0: Foreign Trade Operation of business during the lockdown at home and abroad. Remittance
grew up by 164.61 percent which helped the economy to absorb the
NRBC Bank export finance includes working capital to import/
after COVID shock that stir up from pandemic situation.
procure raw materials and settlement of export bills. Export financing

Figure in Million(BDT) unless otherwise Specified

Particulars 2021 2020 2019 2018 2017
Import 42,371.00 30,579.76 33,220.62 26,229.88 24,786.54
Export 30,652.00 28,070.50 29,203.89 25,091.91 22,459.69
Remittance 10,821.00 4,089.41 2,093.86 997.65 447.01
RMA 171 175 170 160 152
NOSTRO-Account 21 13 12 13 12
Foreign Remittance Sub-Agencies 9 7 4 5 5

81
 Review of operations of NRBC Bank in 2021
The Directors’ Report contained NRBC’s insight activities for achieving global target of the Bank through our network all over Bangladesh to create
success history of landmark Tk.4000.00 million operating profit in 2021.

Micro Finance Division

At the late 2020, NRBC create a new Micro Finance Division to extend regarding unsecured credit extended to the marginalized people with
small loans to the poor people for the purpose of developing them as low interest. After compliance of all formalities, he got Micro Credit of
self-reliant who ultimately help to increase per capita income as well Tk. 5.00 lac from Professor Colony Sub Branch, Gaibandha for purpose
as increase the GDP of our country. The progress of the microfinance of soil mixture machine and raw soil in dry season as working capital.
operations has been gradually increasing through launching Micro His businesses expand rapidly within few days and he supplies the
Credit Programs in the name of: NRBC Deshgori, NRBC Karigor, NRBC pottery across the country. Present Makka Pottery has created
Sonalidin, NRBC Sopnonir, NRBC Probashir Shasti, NRBC Proyojon. employment of 30 people out of which 7 are women.
NRBC has played a pivotal role in the movement of microcredit by
disbursing loan in single digit and it has made a good demand for
especially to those customers who usually borrow loan from NGOs at
higher rate of interest. To accelerate this microfinance banking
services among unprivileged poor people of the country, the bank
signed a Memorandum of Understanding (MOU) with a renowned
local NGO, SKS Foundation, and introduced Partnership Banking
Model in the name of SKS-NRBC Partnership Program. Already there
are 131 Partnership Sub-Branches have been started its full banking
services as well as microcredit financing. These Partnership Sub-
Branches have also disbursed Tk.70.78 Crore other Microcredit Loan
Products of NRBC Bank. Moreover, all the branches and sub-branches
throughout the country have started the Micro Credit Program and
Performance of this program is noteworthy which may conclude as
shown in figure. Mr. Mahidul Islam success story telecast on Television

Nos. of Branches under Nos. of Loan Disbursed

Branch Category
Micro finance Program Disbursed amount (Taka)
Micro finance Sub branch-NRBC Partnership Sub-Branches 110 8584 313.97 Crore
NRBC Branches following Partnership Banking Model 36 1202 55.09 Crore
NRBC Branches following NRBC Microcredit Model 80 1214 39.07 Crore
Total 226 11000 408.13 Crore

120.00

100.00
Amount in Crore

SKS- NRBC Partnership

Sub-Branches 80.00
SKS-NRBC
NRBC Branch/Sub-Branch 60.00 Partnership
following Partnership
Barnch
Banking Model 40.00
NRBC Own Branch/Sub- 20.00
Branchs following Own
Microcredit Model
0.00
April

June

August

October

Dec

Figure-01: Micro Finance Disbursement Performance Figure-02: Micro Finance Disbursement Trend

Self-Employment success history under Micro Finance

Program:
Mr. Mahidul Islam tried to do various businesses but couldn’t cope up
such business. Finally he went to abroad but fate yet to change and
lastly came back to own Basudebpur village. In 2018, he took training
from BSCIC on Pottery and starts his business in the Name of Makka
Pottery with capital of Tk. 7.00 lac having 4 staff.
After few days back, his fame spreads around everywhere of that
locality and getting orders from various organizations. Lack of working
capital and soil mixture machine, he could not expand his business as
expected. View such finance; He was roaming around door to door of
that locality as well as applied to various banks for an unsecured loan
but in failed. At last, he got in touch with a field officer of NRBC Bank
Mr. Mahidul Islam working in his pottery

82
Retail Banking & Business Development Division (RBBDD)
RBBDD is playing a vital role in the running triumph of NRBC Bank as a under the belt of NRBC bank. Although the journey was at initial stage,
fastest growing financial organization since started its journey in we on-boarded 1009 retail asset clients having outstanding balance of
September 2018. The division is doing so through identification of best BDT 114 crore at the end of 2019.
satisfying customer’s financial requirement and offering both
conventional & customized credit facility with competitive & customer In 2020, we kept open our new business and on-boarded 700+
friendly features to entertain the requirements. asset clients during April’20 to June’20 under customized loan
product namely “Emergency Plus” when the market was shut
It was very challenging to launch and mark the retail footprint in a down. Fighting with Covid-19, we closed the year with retail
corporate customer oriented organization in that time where all the portfolio of BDT 349 Crore.
Branches were involved in corporate banking (asset part) and as such
most of the operations unit in head office had no attachment in dealings In 2020, despite the impact of Covid-19 and subsequent sluggish mode of
with retail clients. country’s banking sector, Retail division end the year with outstanding
In 2019, the first year of retail operations in this Bank, we balance of BDT 349 crore counting 2516 retail asset clients. The biggest
successfully marked retail footprint in the market. We utilized success in 2020 was keeping the retail business open during lockdown
the year to make the branch and other operations units period (April’20 to June’20) by introducing customized retail loan product
acquainted with retail strategy, structuring the division and on 18th April’2020 namely “Emergency Plus”. During the lockdown time
branding our retail products. where all the financial organizations postponed their new business, we
disbursed BDT 37 crore of loan to 700+ clients under this new product.
Our greatest achievements in 2019 were to educate the branches on
retail banking, formation of separate Credit Team, formation of By 2021, Retail business strengthened its basement and
Recovery unit, employing Sales force and branding the retail products captures 10% share of total asset base of the Bank in just 3
years time. In this year the Division introduces Automation in
Loan processing system & ATM Operations and closed the year
At the end of 2021, in just 3 years time of inception, the Division
with BDT 903 Crore.
shares almost 10% of the Bank’s asset portfolio with quality on-
boarding of clients. The secured/unsecured holding of the portfolio 2021 was a great year for us as we success¬fully constructed the basement
is also satisfactory. of Retail Banking in NRBC Bank with asset client base of 7,322 and retail
as¬set portfolio of BDT 903 Crore. This is also a year of Automation as Bank
Portfolio Secured Unsecured Classified % launched CRM (Cash Recycling Machines) in our ATM operations site and
903 Crore 64.07% 35.93% 0.13% introduced LPS (Loan Processing System) in our Retail Credit Operations.
Snapshot of Retail Asset Portfolio at the end of 2021
RBBDD's Products
Segment Product Name
Home Loan NRBC Home Loan
NRBC Mortgage Credit
NRBC Commercial Construction
NRBC Interest Preferred Home Loan
Auto Loan NRBC Auto Loan
NRBC Commercial Vehicle Loan
NRBC Bike Loan
Personal Loan NRBC Life Style Loan
NRBC Education Loan
NRBC Equitable Mortgage
NRBC Teacher’s Life Style Loan
Business Loan NRBC Business Loan-SE

Synopsis of Existing Cards at 2021

Card Operations 1%
7% Debit Card
One of the Major Organs of Retail Banking
Credit Card
Started Journey in July 2013 with Proprietary Card
Prepaid Card
Debit, Credit & Prepaid Card launched in April 2014
Started operations under Retail Division in 2018 92% Debit Card: 76,732
Credit Card: 5,750
Operating through third party technical support from ITCL
Prepaid Card: 654
Introduced CDM (Cash Deposit Machine) and CRM
(Cash Recycling Machine) in ATM Operations

5,280
127%
Business of RBBDD’s 2021
608 Crore
Particulars 2019 2020 2021 1,936
Outstanding 114 Crore 268 Crore 608 Crore 2020 135%
268 Crore
Growth by year - 135% 127%
1,009
Loan Clients 1,009 1,936 5,280 2019 0
114 Crore
Secured Ratio 67:33 66:34 62:38
Classified Ratio 0.04% 0.09% 0.13% Total Clients a year Growth by year Outstanding in a year

83
International Division
International Division (ID) facilitates for creating necessary Correspondent Relationship: Presently NRBC Bank maintained 21
atmosphere for NRBC’s Branches to deal with foreign trade and Nostro accounts with different well known banks of the world. During
foreign remittance. The Division performs as a hub for its Branches the year of 2021, NRBC Bank opened Nostro account in JPY with Mizuho
providing support in multidimensional domains like arranging AD Bank Ltd., Tokyo, Japan which is one of the G-SIBs in the world. At the
Licenses, exchanging RMAs, opening Nostro accounts, arranging same time, the Bank opened 05 more Nostro accounts with Zhejiang
international lines of credit, reconciling transactions of Nostro Chouzhou Commercial Bank Co.,Ltd., Zhejiang, China and Sonali Bank
accounts, fund management, facilitating Offshore Banking business, (UK) Limited, London, UK in different currencies. Besides, NRBC Bank
processing EDF loans and cash incentive against export, ensuring maintained RMAs with 171 FIs across the globe at home and abroad.

Import 2020 2021 Growth 600

No. of LC 9969 10160
500
Value in USD (Million) 360.13 497.12 38%
Value in BDT (Million) 30,579.76 42,370.77 400
2020
300
2021
Export 2020 2021 Growth
200
No of Bills 11819 12976
Value in USD (Million) 343.62 365.88 7% 100

Value in BDT (Million) 28,070.5 30,652.26 0

Import Export

Inward Remittance 2020 2021 Growth 150

124.17
No of Remittance 11412 24763
Value in USD (Million) 43.6 124.17 185% 100
2020
Value in BDT (Million) 3,842.76 10,492.1
43.6 2021
50
Outward Remittance 2020 2021 Growth
2.94 3.9
No of Remittance 864 1031
0
Value in USD (Million) 2.94 3.9 33% Inward Outward
Value in BDT (Million) 246.65 328.83 Remittance Remittance

international standard compliance in trade-finance, maintaining Arrangements for Inward Foreign Remittance: Presently NRBC Bank
smooth environment/operation of SWIFT, Managing trade-finance of had sub-agency arrangement with 09 renowned international money
Non-AD Branches/Sub-Branches etc. ID provides support, monitors transfer services and 01 direct drawing arrangement.
and supervises activities of our Branches and maintains required Compliance Tools: NRBC Bank uses SWIFT Sanction Screening, Banker’s
overseas connectivity related to cross border trade-finance and Almanac, World Check, Lloyds List Intelligence tools for ensuring
remittance as a whole. compliance in correspondent banking and cross-border trade-finance.

Offshore Banking Unit (OBU) under ID

Aspiration of cross broader transaction, NRBC established two Offshore esteem customers. OBU is offering market competitive interest rate for
Banking at Gulshan Unit on 25 January 2021 and Agrabad Unit on 23 Import and Export bill discounting. To implement our vision, OBU is top
February 2021 followed on Bangladesh Bank approval vide # Ref: BRPD touch with countries apex industries as well as our correspondent
(OB)/744(128)/2020-7786 and BRPD(OB)/744(128)/2020-7795 dated abroad.
22 September 2020.
OBU Plan for 2022: In 2021, OBU focused on Import and Export bill
OBU Business Activities in 2021: discounting of our own customer. In forth coming years, OBU plan is to
invest in Export Processing Zones (EPZ), Economic Zone (EZ) and Hi-tech
UPAS Letter of Credit is the major focus of our Importers since they are parks. At the same time, Bank is searching for long term financer so that
cost effective and business friendly payment mechanism. NRBC’s OBU may participate in the syndicate financing as a long term
Offshore Banking units mainly discount Import and Export bills of our investment.

Business Segment Types Fig in USD Fig in BDT

Import Bill Discounting 165 no. of UPAS LC Booked 69.75 5,984.55
169 no. of Import Bill Discounted 35.31 3,029.60
Export Bill Discounting 91 no. of Export Bill Discounted 2.88 247.104
Financing From Foreign Banks 8.30 712.14
Borrowing for OBU Business Financing From Local Banks, OBU 15.00 1,287.00
Financing From NRBC-Treasury 22.05 1,891.89

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“Al-Amin” Islamic Banking
The popularity of Islamic Banking has been on a rising trend not only in Banking is nothing but a post facto expression of the respective agreed
our Country but also across the world. In the recent years Islamic sharing ratios. “Al-Amin Islamic Banking” profit rate is an output based
Finance experienced fast track growth as evidenced from the report of on the Bank’s earning from various Shariah based investments.
IMF mentioning the growth rate around 15%-20% annually.
Major Products of our Al-Amin Islamic Banking: “Al-Amin Islamic
The people of our country are deeply committed to Islamic way of life on Banking” developed significant number of Islamic Banking Products,
enshrined in Holy Quran and the Sunnah. Increasing pace of customer Policies & relevant forms/formats to accelerate our Islamic Banking
awareness and interest to Islamic Banks for financial products in the activities more prudently.
local market opens a wide era for entering into the Islamic Banking
sector and this is the high time to grab the market. Deposits are mobilized from clients under two principles of Sharaiah i.e.
i) Al-Wadiah principle ii) Mudaraba principle.
In the face of the emerging demand a good number of Islamic Banks are
in operation, while some conventional banks had made wholesale Al-Wadiah Principle: Fund which is deposited with Banks by the
conversion into Shariah based Islamic Banking. Besides, a good number depositors with clear permission to utilize/invest the same is called Al-
of Conventional Banks have started Islamic Banking operations by Wadeeah. Islamic banks receive deposits in Current Accounts on the
opening separate windows/wings and branches. basis of this Al-Wadiah Principle. Islamic banks obtain permission from
the Al-Wadiah depositors to utilize the Funds at its own responsibility
To keep this point in mind for providing the best level Islamic Banking & and the depositors would not share any profit or loss earned/incurred
Financial products to the client of NRBC Bank commenced its historic out of using of this fund by the bank. The banks have to pay back the
Islamic banking operation through 8 of its Windows since 20 January, deposits received on the principle of Al-Wadiah on demand of the
2020. Afterwards, on February 08, 2021 the Bangladesh Bank has given holders.

Type of Mudaraba Deposit Present Distributable Investment Income Sharing Ratio

Bank’s Ratio Client’s Ratio
Al-Wadiah Current Deposit Account 100% 0%
Mudaraba Monthly Installment Scheme 25% 75%
Mudaraba Monthly Profit Scheme 20% 80%
Mudaraba Savings Deposit Account 60% 40%
Mudaraba Shohoj Shanchay - 100k 50% 50%
Mudaraba Shohoj Shanchay - 200k 50% 50%
Mudaraba Shohoj Shanchay - 50k 50% 50%
Mudaraba Special Notice Deposit 65% 35%
Mudaraba Term Deposit Receipt 1 Month 60% 40%
Mudaraba Term Deposit Receipt 1 Year 28% 72%
Mudaraba Term Deposit Receipt 3 Month 30% 70%
Mudaraba Term Deposit Receipt 6 Month 28% 72%
Murabaha Cash Waqf Deposit Account 20% 80%
Murabaha Cash Waqf Savings Account 20% 80%
Murabaha Hajj Deposit Scheme 20% 80%

their consent to operate Islamic Banking operation to all of our Mudaraba Principle: Mudaraba is a partnership of labour and capital,
Branches across the Country. where one partner provides full capital and the other one manages the
ISR Model of Islamic Banking: At NRBC “Al-Amin Islamic Banking” are business. The capital provider is called Sahib-Al-Maal and the user of the
followed the Income Sharing Ratio (ISR) model which most modern & capital is called Mudarib. As per Shariah principles, the Mudarib will
internationally accepted model of Islamic Banking. “Al-Amin Islamic conduct the business independently following Shariah principles. The
Banking” is collecting deposits from our valued clients & sharing the Sahib-Al-Maal may provide advices, if he deems fit but he cannot
business profit with them in this method. impose any decision over the Mudarib. Profit, if any, is divisible between
The ISR distributable income is to be shared by the concerned depositor the Sahib-Al-Maal and the Mudarib at a predetermined ratio, while loss,
and the Bank. The ISR between each type of Mudarabah depositors and if any, is borne by the Sahib-Al-Maal. The deposits, received by Islamic
the Bank (Mudarib) are duly disclosed at the time of account opening banks under this principle are called Mudaraba Deposits. Here, the
and/or beginning of the concerned period. Profit rate is emerged at depositors are called Sahib-Al-Maal and the bank is called Mudarib.
actual, as derived from the income fetched from deployment of the
Al-Amin Islamic Banking Investment Modes/products:
concerned fund. As such our rate of profit on deposit under Islamic

Bai- Murabaha -General Investment Against EDF (FC -USD ) HPSM - Real Estate/Housing
Bai-Murabaha (Working Capital) Quard (Earnest Money) HPSM - Transport
Bai-Murabaha (Work Order Finance) Bai-Muazzal -Household Al-Amin Islamic Home Finance
Bai-Murabaha (Trading) Quard Against MTDR Al-Amin Islamic Consumer Finance
Bai-Murabaha-Term Bai-Salam -General Al-Amin Islamic Home Finance
Murabaha - Post Import (TR) Istisnaa -General Al-Amin Islamic Auto Finance
Murabaha - Forced Ijara -General IBP (Quard)
Murabaha Pad- Corporate HPSM - Industrial FBP (Quard)
Presently 231 Branches & Sub-Branches are in operation of “Al-Amin Islamic Banking” at their counters.

85
 Sector Wise Investment of Islamic Banking in 2021:
Disbursement in
Investment Sectors 2021 [Fig in Lac Tk.]
Readymade Garments 818.98
Steel Engineering & Metallic Product 747.42
Construction Companies 166.73 Readymade Garments

Food Processing Industries 55.85 Steel Engineering &

Metallic Product
Pharmaceuticals Industries 75.15
Construction Companies
Health Related Institutions 2,411.20
Food Processing Industries
Electric & Electronic Industries 94.35
Garments Industries 662.40
Other industries i.e. 10,402.05
Total 15,434.13

Operating Profit Performances while authorized to Directors’ Report before Shareholder on last 12 Months:
Date Monthly Profit Operating Profit
31-Mar-2021 -0.79 --
30-Apr-2021 -2.45 --
31-May-2021 -11.12 -11.33
30-Jun-2021 27.26 15.93 [First Profit made]
31-Jul-2021 37.12 53.06
31-Aug-2021 7.42 60.49
30-Sep-2021 10.46 70.95
31-Oct-2021 14.19 85.15
30-Nov-2021 33.66 118.81
31-Dec-2021 39.29 158.11
31-Jan-2022 46.02 46.02
28-Feb-2022 34.31 80.34
31-Mar-2022 79.25 159.59

Treasury Division
Treasury division is played a vital role for NRBC profitability which Treasury Front Office is business unit. Back office support functions of
having of Treasury front Office, Mid Office and Back Office where business unit and Mid Office Plays administrational activities.

86
Despite COVID-19 pandemic, amplification of stimulus packages and level. In 2021, Investment diversification is prudently applied than any
high outflow of import, NRBC Bank’s Treasury obtained 9.10% more previous year. Movement diversification as below.
income over 2020 and significant contribution to the global profitability
by way of income from investment in BGTB and its capital gain. Over the Awarded as best Primary Dealer (PD) in 2021
years, Capital market operation was blessing of NRBC Bank for earning NRBC Bank is one of the Primary Dealer (PD) out of 23 approved by
in form dividend and capital gain. Treasury always strives to keep sound Bangladesh Bank aim of boosting the secondary market for government
liquidity, minimize risk and enhance NRBC Bank Ltd’s profitability. treasury bills and bonds. Treasury is able to establish the NRBC Bank as
Scenario of income in 2020 & 2021. most promising PDs in the banking industry. From the inception,
treasury plays crucial role primary market and development of
NRBC Bank’s Treasury is one of the best dynamic treasuries engaged in secondary market. NRBC’s Treasury prudently conducted its role as the
dealing in different transaction in home & abroad. It is always Primary Dealer to earn Capital Gain in 2021 as well as being awarded as
responsible for smooth liquidity management ensuring optimal best Primary Dealer (PD) Bank in 2021 declared by Bangladesh Bank on
investment portfolio that generate maximum revenue considering risk September 09, 2021.

Income-2020 Income-2021

Investment-2020 Investment-2021

Financial Inclusion & Business Development

Bangladesh has celebrated its golden jubilee of Independence in 2021. through our agents. NRBC agents will also collect electricity bill & other
Bangladesh has shown tremendous success in terms of GDP growth and bills from door to door. In these ways, the bank is planning to build our
size, per capita income, human development index and in other remittance connection and build a low cost deposit base.
economic indicators as well. NRBC Bank constantly focuses the
changing needs and desires of its customers, to develop new and re- Safety net Program under NRBC Bank Agent banking system:
engineered process of service delivery. It has a focus to act as an NRBC’s agents under supervision of Social Welfare Department
effective delivery channel to distribute remittance from Non Resident disbursed the Safety net funds to Elderly/Widow/divorced/Disabled
Bangladeshis all over the country. Bangladesh Bank has given scope to people of Naogaon & Narsingdi District’s areas. Our Agents are
the banks to develop another alternate delivery channel in the name disbursing the safety net funds from their Agent Points (UDC’s) and
and style called “Agent Banking”. This channel will bring opportunity for sometimes at door steps in case of elderly and disabled person
the banks to serve the mass people at cutting edge price complying with
regulatory requirements. Agent banking program will change the
banking scenario in Bangladesh at the near future. The low income &
un-banked people will get banking services throughout the country.
Families of different Non Resident Bangladeshis are settled and living
mostly in rural areas all over the country.

With a Moto of “Door to Door Service for the Unbanked People” by

ensuring inclusive growth to every segment of people all over the country,
NRBC endeavor to make door to door step services for disbursement of
marginal people remittances, Government safety net program funds Safety Net fund disbursement in Naogaon Agent Point

87
Door step service through Agent banking
Particulars As of December 31, 2021 2021
No. of Agent 576 8
No. of Sub Agent 589 -
No. of Account 170,499 56,345
No. of Transaction 805,743 339,524
Deposit (Avg) Tk. 1,661.54 Million Tk. 1,661.54 Million
Transaction Amount Tk. 2,773.08 Million Tk.1,367.92 Million
No. of IFR Transaction 500 138
IFR Transaction Amount Tk. 278.26 Million Tk.10.42 Million
No. of Electricity Bill 297,948 30,524
No. of Electricity Bill Amount Tk. 189.47 Million 21.70 Million
No. of Safety net Beneficiaries 148,273 54,458
Safety net fund Disbursement Amount Tk. 984.81 Million Tk.620.30 Million
EGPP Beneficiaries 5,647 1492
EGPP Beneficiaries Disbursement Amount Tk. 121.87 Million Tk. 32.21 million

Safetynet Program -2021 Area Taka (Million) No. of Beneficiaries

Old Age Allowance Naogaon & Narsingdi District 253.32 16,607
Widow Allowance Naogaon & Narsingdi District 74.93 11,160
Disabled Allowances Naogaon & Narsingdi District 164.13 7,569
Maternity Allowance Narsingdi, Dhaka, Naogaon, Rangpur, 49.96 924
Dinajpur, Cumilla & Barishal District
Vulnerable group development (VGD) Dhaka,Narsingdi,Tangail, Barishal,Naogaon, 77.95 18,198
Rangpur, Dinajpur & Cumilla District
Total 620.30 54,458

Expansion of Agent Banking Network: main work force to make them self-employed, creative and
Network of Agent banking spreads out all over the country. NRBC Bank accelerate the state development.
is not only behind such endeavor. NRBC Bank is executing agreements
2. To make the youth efficient to use their credit facilities.
with Corporate Institutions for steady expansion of Agent Banking
Operation all over the country. MoU has signed with A2i (Access to 3. To inspire the youth regarding micro savings.
information program, a project of the Government of Bangladesh under 4. Women, Transgender and special need based persons who are
Prime Minister Office) to work as our Agent under Agent Banking eligible and efficient can get the credit facilities and to make
Operation. A2i has around 5600 Digital Information Centers at Union them proper entrepreneurs.
Parishad offices all over Bangladesh. These digital centers will act as
5. To engage youths in the sustainable development of the nation.
Agent outlet to connect un-banked people all over the country.

MOU with Jubo Unnayan Adhidaptar (hye Dbœqb Awa`ßi): NRBC Strategic partnership Agreement with NRB Commercial Bank and
Bank started a new journey with Jubo Unnayan Adhidaptar (hye Grameen phone Ltd (Micro Merchant) :
Dbœqb Awa`ßi) extending credit facilities for creating more self Recently NRBC Bank has signed a MoU with the Grameen Phone Ltd
employment of the large portion of youth with view to : wishes to engage GP’s distribution network (both physical and digital)
1. NRBC Bank will disburse credit facility to youth who are the through GP network for fund disbursement to mass people under the

Training session under Access to information (A2i) program MOU with Jubo Unnayan Adhidaptar

88
Bangladesh Government’s Safety Net Project, regular Cash deposit,
Cash withdrawal, Utility bill payment, education fees collection,
remittance, account opening through E-KYC digital platform and other
small scale banking activities to its customers.
Alternative Delivery channel for collection Govt. Revenue and other
service : NRBC Bank involved in collection of different Govt. Revenue
(Tax, VAT, Fees, etc.,) being a stakeholder of the Govt and financial
services all over the country through our network and various collection
booth.

Fund Disbursement through GP's Distribution Network

Particulars No. of Points No. of Transaction Taka (Million)

eChallan (645 types of Government 152 57,334 10,909.99
revenues like VAT, TAX, SD, Revenue,
Passport Fees and other fees)
BRTA Collection Booth 25 3,570,194 19000.00
Land Registration Booth 318 3,481,210 28000.00
REB Collection Booth 116 11,045,480 13000.00
Foreign Remittance Disbursement 160 2946 194.00
DPDC Collection booth 5 3125 195.00

Internal Control & Compliance

ICC of NRBC Bank works as watchdog under prescribe Guidelines of As per Risk-Based Internal Audit Plan- 2022, Internal Auditors will
Bangladesh Bank on Internal Control & Compliance in Banks and NRBC conduct inspection on total 127 nos. of Branches & Sub-Branches where
Bank’s ICC Policy 76 Branches & Sub-Branches will be inspected in physical mode and 51
Branches & Sub-Branches will be inspected in distance mode. Besides,
ICC Division of NRBC Bank is responsible for implementing risk-based 12 Divisions of Head Office and 01 Subsidiary Company of NRBC Bank
internal audits, establishing compliance culture and monitoring Ltd. will also physically inspected by the internal auditors in the year
operational performances through its 03 separate units i.e. Audit & 2022 as per RBIAP. Meantime, ICCD had conducted 05 (five) special
Inspection Unit, Compliance Unit, and Monitoring Unit. investigations on different issues during the current year.

All Branches, Sub-Branches and Divisions of NRBC Bank are responsible ii) Compliance Unit of ICC Division:
for developing, implementing, and making sure that the controls are
observed and not breached. ICC Division of NRBC Bank acts as internal Compliance Unit of ICC Division of NRBC Bank works for minimizing the
watchdog of the bank. As a part of control system, NRBC Bank has bank’s compliance risk through complying with the instructions,
specific policy guidelines in order to ensure an effective control over its policies, and regulations etc. of the regulators i.e. Bangladesh Bank,
process in various fields which can protect the bank from fraud & NBR, RJSC&F, BSEC, etc. and our Bank. Compliance Officers of the
forgeries. One of the most important aspects of an internal control Division are on continuous persuasion with the divisions/branches/sub-
system is an appropriate segregation of job responsibilities of all the branches for rectification of the audit findings identified by the Internal
employees, make sure that personnel are not assigned conflicting Auditors and Bangladesh Bank Inspection teams during their inspection
responsibilities and should be held accountable for their actions in and submit reports to the Audit Committee of Board periodically/ ad
compliance with delegated authority. Internal control also identified hoc basis through the Managing Director & CEO of the Bank on major
with internal audit & inspection, regular compliance activities and un-rectified irregularities/lapses.
implementing the control tools like: DCFCL, QOR, LDCL, etc. at
branch/sub-branch levels.

i) Audit & Inspection Unit of ICC Division:

Internal Audit Unit of ICC Division of NRBC Bank evaluates all the
Branches, Sub-Branches & Head Office Divisions, at least annually, on
the basis of degree of risk and prepares inspection reports accordingly.
To this end, internal auditors follows a Risk-Based Internal Audit Plan
(RBIAP) which needs to be approved by the Audit Committee of the
Board (ACB) of Directors of the Bank.

During the year 2021, total 122 nos. of Branches & Sub-Branches were
inspected by the Internal Auditors where 77 Branches & Sub-Branches
were inspected in physical mode and 45 Branches & Sub-Branches were
inspected in distance mode, due to COVID-19 pandemic situation.
Besides, 13 Divisions of Head Office and 01 Subsidiary Company of
NRBC Bank Ltd. were physically inspected by the auditors as per Yearly
Audit Plan- 2021. Furthermore, Internal Auditors conducted 27
investigations on different issues as advised by the Management in the
year 2021.

89
iii) Monitoring Unit of ICC Division: Monitoring Unit regularly reviews the Quarterly Operations Report and
The Monitoring Unit of ICC Division regularly monitors the operational Exception Report (if any) of the Branches/Sub-Branches and prepare
activities of all the branches/sub-branches/divisions through collecting summary report on the Loan Documentation Checklist (LDCL) on a
relevant data and analyzes those to assess the risk of individual units. It quarterly basis. It regularly supervises, monitors, and analyzes the
works for strengthening the internal control system of NRBC Bank Ltd. Branches/Sub-Branches operations through off-site analysis. By this
way the Unit identifies, assesses and controls the risks involved in
Monitoring Unit works for proper implementation of various internal operational activities of the Bank and thus develops an effective risk-
control tools i.e. Departmental Control Function Checklist (DCFCL),
based approach that continuously monitors different types of risks
Quarterly Operations Report (QOR) & Exception Report (if any), and
facing the bank. Hence, it works for enhancing the early warning system,
Loan Documentation Checklist (LDCL) at Branch/Sub-Branch level. It
prepares Self Assessment of Anti-Fraud Internal Controls Report and which allows the bank to take proactive measures to ensure the safety
Annual Health Report of the Bank as a regulatory compliance and and soundness of all operations.
submit this to Bangladesh Bank.

Support Services Division (SSD)

Support Services & Branches Division (SSD) is working relentlessly to of sub branch which is called partnership banking sub branch for the
provide full backend support view to functionaries the Basic task of the financial inclusion of the marginalized people of our country. Amid
Bank so that Bank can achieve the goal. COVID-19 pandemic while whole country was stuck in lockdown, 10
nos. branches and 377 nos. sub branches (including 131 nos. NRBC-SKS
Support Service & Branches division is responsible for general services partnership banking sub branches and 102 nos. land registration sub
function i.e. ensures infrastructure of the premises including office branches) have been opened in the year 2021 while Board of Directors
furniture, equipment & machinery, electro-mechanical items. The set a target to SSD to establish 10 nos. branches and 200 nos. sub
branches for the year 2021.
division also provides vehicles support, logistics and all kinds of printing &
office stationeries to all branches and sub branches including head office
Expansion Plan in 2022:
Expansion program, goals and achievement-2021 We have already got Bangladesh Bank’s permission for establishment of
10 nos. branches along with 150 nos. partnership banking sub branches
Aiming to bring unbanked, underprivileged people under banking
network NRBC Bank has two types of expansion program i.e. branch and for the year 2022. To achieve the target necessary actions i.e. site
sub branch. In the year 2021, NRBC Bank has introduced a new concept selection, tender etc. is ongoing.

Fig: expansion program in last 03 years

Risk Management and Management Information System

Risk Management Division is functionally and hierarchically implications on the Bank’s ability to meet its objectives. This
independent from all business functions to assess the risk factors and encompasses all risks to the Bank, e.g., on- and off-balance sheet and at
disseminates to the Management as well as Board of Directors timely so a group-wide, portfolio and business-line level. This includes the
that necessary action as deemed fit for the mitigate the same. banking risks defined under Basel Accord, e.g., credit risk, market risk,
According to the Risk Management guidelines for Banks, Risk operational risk as well as other risks such as reputational risk, legal risk
Management Division works as the central hub of Risk Management and cyber risk.
framework of the Bank. NRBC Bank has adopted a well-defined,
structured approach to setup and maintain the Risk Management Risk Management Division’s also provides support to management in
process of the Bank in line with Bangladesh Bank guidelines. managing various risks, by providing risk related opinion on the financial
products approval processes, and the adoption of various risk limits.
The RMD supports the Board level Risk Management Committee
(BRMC) to perform the role of risk oversight, framework development, RMD is also tasked with independently monitoring the six core risk
policy and methodology formulation, and independent monitoring and limits, periodic stress testing, and preparation of monthly risk
reporting of key risk issues, acting as the 2nd line of defense in the management papers, half yearly Comprehensive Risk Management
context of the Bank’s overall Risk Management framework. The RMD Report & holding meeting and implementation of the Basel accords in
covers both downside risks and upside potentials that may have the Bank as per the guidelines of Bangladesh Bank.

90
Management Information System (MIS) division of NRBC plays a pivotal
role in characterizing, summarizing, formulating, analyzing, and
monitoring of financial and non financial data that helps the bank to
adopt cost effective strategies and pave the way to create significant
competitive advantage in the market. NRBC is expanding its business in
full swing consists of the increase of branches and sub-branches to a
greater number which also indicates the increasing number of
customers that have come under the services of the bank. MIS division
not only deals with the identification of these customers but also
monitor their activities using different functions. Among diversified
roles of MIS Divisions’ some of the major roles are:

MIS Division of NRBC fully uses automation process in preparing reports

and other database by using Core Banking System which ensures the
authenticity and reliability of the reports. Therefore, MIS Division is also
planning to execute full automation for the rest of the possible
reporting system. Through this process, ensuring compliance with
Bangladesh Bank will be easier and reliable.

Preparation of Identification, Monitoring the non- Develop and maintain Develop tools for
Advanced Database collection, Analysis performing and Large system driven automated
Management , and classification of Loan customers, automated Loan vouchering system
Economic Analysis, financial and non- variety of indices and Classification Process. such as; pay order
Agriculture Credit financial data of the ratios related to issue for e-gp finance,
Statement, Integrated customers banking operations, amortization
Supervision System , schedule for loan
Scheduled Bank repayment and
Statistics , Sector-wise automated loan
loan outstanding recovery module.
report and daily MIS
for Management to
support strategic
decisions

Business Network, Operation and Implementation Management

In the ever-increasing intricacy of business dynamics, the management Automation of Central Account Opening Unit: NRBC decided to
tends to focus more on the aspects of business sustainability and introduce centralization of Account opening procedure to increase
expansion, operational efficiency as well as business target monitoring operational efficiency and minimize reporting error. Branches, Sub
and implementation. Inability to ensure these aspects may result Branches, and Micro Finance Sub Branches by setting up regional
adversely even in the existence of the institution. For ensuring these business operation offices will be operated under Central Opening Unit
aspects smoothly, this division is categorized in three functional areas. of Business Network, Operations & Implementation Management

91
Division. Central Account opening unit is already in operation and Future outlook: BNOIMD with the help of ICT Division is on the way of
brought ten (10) sub branches under centralization process as a pilot implementing e-KYC Platform in 2022. e-KYC is a digital process where
project. Implementation of centralization will ensure the following financial institutions can open a customer account by filling up a digital
advantages: form, taking photograph on the spot, and authenticate the customer’s
a) Ensure transparency in operational procedure identification data (ID No., biometric information, address proof)
b) Officers will get adequate time for marketing and customer instantaneously. Such biometric information or digital signatures or
services electronic signatures may be used for transaction authentication as
well.
c) Strong compliance on documentation formalities
“e-KYC will be one step advancement of digitalized imitative”
d) Prevent money laundering and terrorist financing activities.
e) Protect fraud and forgeries

Corporate Concierge Cell

NRBC Bank involving with various Governments, Semi Government, establishment of Corporate Concierge Cell (CCC). Bank facilitate some
Autonomous Bodies and renowned Corporate House and 1st class Loan Packages having Credit Card facility, Personal Loan facility, Home
government officials with the advantages of unique Products and Loan facility, Car Loan facility and any other future loan packages to the
Digital Banking platform. To support the Government, semi employees of aforesaid Bodies which will be required time to time on
Government, Autonomous Bodies and renowned Corporate House on demand basis. Business position is given below.
unique way and emergency service, Bank has given permission for

Customer Segment No. of Loan A / C Loan disbursed [Fig in Crore]

Judges 392 125.00
DPDC 211 50.00
Others Govt. Officials 18 200.00
Total 621 375.00

A high power committee of the management is oversee all credit facilities of under Corporate Concierge Cell

Human Resources
To achieve organizational objective and goals quality and skilled human Focus on Skills and Merits
resource is always a priority for NRBC Bank. Human Resources Division Bank is focused on skill and merit based recruitment and selection
endeavors and makes extensive efforts in developing human resource process, highly competitive remuneration package, adequate training
that is aligned with the Bank’s long term corporate goals and vision. A and development programs, career growth with succession planning,
pool of dedicated and highly professional workforce is the key driver of high-performance culture and healthy working environment where
NRBC’s performance. Our efficient workforce acts as the pillar for the employees are able to vent their grievances and receive counseling.
Bank to reach newer heights of success and always committed to
optimize wealth of the Bank. Building Employee commitment, Engagement of Finest People
qualifications and loyalty toward the NRBC gain a strong competitive HR is constantly seeking to attract talented young people to the Bank. To
edge. Bank is continuously preparing its people for the future to take ensure long term sustainability, NRBC Bank has a special focus on skill
new challenges. and merit based recruitment and selection process, highly competitive

92
NRBC Team at a glance
Particulars 2020 2021
Number of Employees 2143 3694
a. Executive 115 122
b. Non-Executive 1114 1832
Support Staff & Driver 42 53
Marketing Associates / 35 39
Direct Sales Executive (Contractual)
Junior Teller/Others 837 1648
Female Representation 398 586
Male Representation 1745 3108
Employee turnover rate 6.39% 8.47%

remuneration package, adequate training and development programs, banking innovation. The Training Institute also goes through a complete
career growth with succession planning, high-performance culture and Training Needs Assessment (TNA) Process. The development of Human
pleasant working atmosphere. NRBC Bank brings people from different Capital essentially calls for training throughout the year. Even in the
academic backgrounds which act as a source of creativity. Since period of pandemic, learning process is continued through virtual
inception of the Bank, fresh candidates with sound academic platform. NRBC Bank Training Institute arranges online training session
background and experienced candidates with a good track record have in different plea that was more interactive than live training session.
been recruited in all levels of the Bank in every year for rendering best Training-2021 at a Glance
possible services to its customers.
The family, called NRBC: Since its inception NRBC Bank fosters the
Growth of Individuals concept of “a Bank –a Family” and endeavors to create a work culture
NRBC Bank has a strong focus on imparting training towards of professionals that amplifies Staff motivation and influences the
enhancement of the skills and competencies of the employees to take quality of work-life. Since the Bank’s mission is to make it “The Best
over the challenge of modern banking as there is no alternative to Place to Work”, the inter-personal integration among the employees is
training for the development of human resources. The Bank has very much important by creating a congenial, healthy, caring and
established ‘NRBC Bank Training Institute’ in 2015 which is the flagship productive environment for all levels of employees. Two-way
learning center where employees of the Bank are trained for developing communication is always encouraged and appreciated here and this

Training-2021 at a Glance
Number of Training (Internal) 232
Number of Trainings (External) 06
Number of Trainings (Foreign) 00
Total Trainings 238
Number of Participants (Internal) 46,687
Number of Participants (External) 27
Number of Participants (Foreign) 00
Total Participants 46,714
Basic Training Program of TAO & TJO

their skills, knowledge and abilities (SKAs) for achieving the cherished positive interaction between higher Management and all the
dream of the Bank. To achieve this goal, the Institute designs training employees is evident in NRBC Bank’s remarkable growth and success
calendar considering regulatory compliance requirements and new over the years.

Green Banking & Sustainable Finance

Since its inception, NRBC Bank has been emphasizing on diversifying its Diversification of Credit portfolio:
credit portfolio over various sectors including Green & Environment- NRBC Bank emphasizes on diversifying its credit portfolio over various
friendly Financing as directed by Bangladesh Bank. NRBC Banks’ sectors including Sustainable Linked Finance and Green & Environment-
“Sustainable Finance Unit’ under Credit Risk Management Division friendly Financing.
promotes Green & Environment-friendly projects on its credit portfolio
with a view to incorporating sustainability in its’ financing activities. NRBC Bank always put top priority whenever it finds any green financing
opportunities such as renewable energy generation, liquid Waste
NRBC Bank Limited performs several green banking activities like in Management, setup solar equipments, ETP, Brick-field (Zigzag /HHK
house environment management, green financing like installation of Tunnel kiln), Green Building, Bio-gas Plant etc. Most of the Textile
EFT, Green Building, Brick Field(Zigzag /HHK Tunnel kiln), Industries we financed are equipped with ETP facilities. Moreover,
establishment of solar panel, Bio gas plant etc. NRBC Bank also involves NRBC Bank also focuses on Poultry, Fisheries & Livestock business, Agro
feed manufacturing industry and investment in MFI for capacity
in Agriculture, CMSME or Socially Responsible Financing Category
building, employment generation etc. as a part of sustainable finance.
linked to sustainability. Steps taken regarding sustainable financing in
In 2021, total disbursement under sustainable finance was Tk.4176.92
banking are: million.

93
 Sustainable Finance Components Sustainable Finance Sectors
1. Sustainable Agriculture
Sustainable Linked Finance 2. Sustainable CMSME
3. Socially Responsible Finance
1. Liquid Waste Management
Green Finance 2. Environment Friendly Brick Production
3. Green/Environment Friendly Establishments

Strategic focus for sustainability: • Pa p e r C o n s u m p t i o n M a n a g e m e n t : I n t e r n a l

c o m m u n i c a t i o n s t h ro u g h e m a i l s , C u s t o m e r
a. Introduction of new Loan Products under sustainable
communications done through emails or SMS, Use of one
financing activities: To promote green finance activities more
side used papers for draft copies of the office assignments
effectively, NRBC Bank introduced a new green product
etc.
named as ÒNRBC- meyRÓ for the sake of green financing.
• Water management: Efficient use of gas, fuel, electricity
b. In-House Activities of NRBC Bank towards sustainable and water with a view to reducing carbon emission.
financing: NRBC Bank also emphasizes on promoting Green • Power Savings Equipments: Introducing Energy saving
banking within the bank by taking several In-House Green Bulbs in the offices.
Banking Activities like:
Tk. in million
Amount
Quarters
Under Sustainable Linked Finance Under Green Finance Total
1st Quarter 706.61 85.50 792.10
2nd Quarter 1398.09 173.47 1571.57
3rd Quarter 993.53 28.00 1021.53
4th Quarter 738.92 52.80 791.72
Total 3837.15 339.77 4176.92

Credit Administration
Credit Administration Division (CAD) of NRBC Bank ensures that proper Future Plan: To be Paperless Credit processing & disbursement and
documentation and approvals are in place prior to the disbursement of initiative E-SISO register, E-Deferral monitoring system & E-Insurance
loan facilities. Presently CAD performs its operation from Dhaka Office monitoring system
and Chattogram unit office with 33 centralized branches.

Key Function:
The key functions of Credit Administration Division (CAD) are
documentation& disbursement, monitoring and compliance.

Speed up loan process at Present and its Future plan:

Achievement in 2021: Started loan disbursement process at
Chattogram Unit and Developed DMS (Documents Management
System) software for archiving/speed loan documents/disbursement

CAD loan disbursement 2021

Sector No. of customers Taka (In million)
Corporate 5,345 25,386.97
Retail Loan 6,080 5,747.30
SME 15,110 27,753.00
Agriculture 107 1,158.05
Micro Credit 10 0.49
Others 310 11,868.28

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Stimulus Package
NRBC Bank has been extending all out support to the affected business sector, Working Capital for Agriculture Sector and Stimulus Loan for
sector’s customers by implementing different stimulus packages from Lower Income Professionals and Others through Micro Finance
the beginning of Covid-19 pandemic. NRBC Bank has achieved 100% Institution. Moreover,
target of stimulus package of Working Capital for Industry Service
[Figure in Crore]
Allotment/Target by Achievement
Size of Stimulus Sanctioned Amount
SL Nature of Stimulus Bangladesh Bank to Percentage of
Fund by Bank Disbursed
NRBC Bank [Phase 01] BB Target
01 W/Cap for Industry/Service Sector 33000.00 206.10 202.47 197.97 96.06%
02 Salary for Workers of Export 5000.00 56.64 56.64 56.64 100%
Oriented Industries [April & May]
03 W/Cap for CMSME Sector 20000.00 130.00 94.05 94.05 72.34%
04 Agriculture Working Capital 5000.00 14.50 14.50 14.50 100%
05 Stimulus Package for Lower income 3000.00 - 287.00 287.00 100%
professionals and others through MFIs
Total 403.72 654.66 650.12 - -

SME and Agriculture Financing

The COVID-19 crisis caused profound disruptions in the global catalyst in the growth of cottage and micro segment in the country.
economy, with SMEs and entrepreneurs, particularly hard hit. Besides, Bank have been organizing capacity development and
Bangladesh is not exception of this. But SME is the backbone of the awareness building programs especially for women entrepreneurs in
Bangladesh economy: they make up more than 90 percent of all collaboration with Bangladesh Bank, SME Foundation etc. in different
businesses that provide two out of three private sector jobs in the districts.
country. NRBC Bank gave more emphasize in this pandemic situation
to facilitate Small & Medium Entrepreneurs including Woman SME Success History:
Entrepreneurs engaged in Manufacturing, Trading & Service Mr. Monir was a migrant worker in Saudi Arabia for 11 years. In 2018, he
Industry. came back to Bangladesh and started Poultry and Cattle farming in a
small scale. For expansion of his firming, Ruhitpur Branch provided SME
NRBC Bank successfully achieved SMEs stimulus disbursement target, Credit Facility with amounting to Tk.10.00 lac. Having such SME
including sector wise disbursement criteria. Ensuring inclusive & facilities, poultry shed capacity increased to 1,200 poultry at a time
sustainable economic growth through SME development with special compared to 600 poultry capacity as before as well as no. of increased to
focus on women entrepreneurship development, NRBC Bank 10 cattle from 4. Present Mr. Monir business is running very successfully
introduced cluster based financing which has been playing as a role of and his capital reached to Tk. 25.00 lac.

Particulars No. of Beneficiaries Target [In million] Disbursed [In million]

Agricultural Credit 134 1,118.00 1,238.00
CMSME Stimulus 159 1,300.00 940.07
SME Credit 24,304 16,200 45,991.14

Mr. Monir's Cattle Firm Mr. Monir's Poultry Firm

95
Sustainable Financing: Corporate Social Responsibility (CSR)
NRBC Bank emphasizes heavily on creating a strong business and
building a better world as they are not conflicting goals rather both are
essential ingredients for long-term success. Marching forward towards
success means sustainable development of the society, that is the
motto of NRBC Bank. Sustainable development is the pathway to the
future we want for all. It offers a framework to generate economic
growth, achieve social justice, exercise environmental stewardship and
strengthen governance. Our work is not just about doing business; it is
about connecting with people and building relationships, based on
trust, with our clients, business partners, employees, shareholders, as
well as the wider community. It is always believed that good
On 28 October, 2021 S M Parvez Tamal, Chairman of the Bank and Mohammed
development is good business. Adnan Imam, FCCA, Director and Chairman, Executive Committee handed over
blankets to the Principal Secretary of the Prime Minister's Office
NRBC Bank assumes responsibility by bearing in mind the consequences
of its business decisions and actions on economic, technological, social people of the society. NRBC Bank has established CSR policies keeping
and environmental levels and brings about an appropriate balance of these above mentioned factors in mind.
interests. NRBC Bank voluntarily contributes to the well being and long
The bank’s CSR policy has been framed in accordance with guideline
term development of the society at every point it can at the locations
provided by Bangladesh Bank. The policy shall be applied to all CSR
where it is in business. It is geared towards universally held ethical
programs/activities undertaken/sponsored by the Bank or executed
values and principles, especially integrity, honesty and respect of through any other Trust/Society of implementation partner or any
human dignity. other fund set up by the Government. NRBC Bank Board of Directors
has always supported and encouraged participation in CSR programs.
As financial institutions are considered corporate citizen, NRBC Bank is The primary objective of NRBC Bank CSR policy is to make a meaningful
no different. NRBC Bank is fully aware of its responsibilities towards the and measurable impact in the lives of economically, physically and
society as a whole. It puts a closer look on how its operational activities socially challenged communities of the country though an integrated
impact its stakeholders, the economy, the society, its staff and the approach of development which focuses on crating sustainable
environment. NRBC Bank focuses on Conducting business in an ethical livelihood, promoting education and skill development. The bank shall
way, creating opportunities for business and economic development, also promote initiatives that preserve, restore and enhance
empowering people to fulfill their aspirations, ensuring protection of environment, ecological balance and natural resources and improve
sanitation and hygiene. From a wide range of CSR activities of NRBC,
environment while financing businesses and supporting the distressed
Some are highlighted below:

25th August 2021, AKM Mostafizur Rahman, Hon’ble Director NRBC Bank gave blanket to Prothom Alo trust for distribution among the needy
Haded over money to distressed people
who are affected by the covid-19 Pandemic at Uzirpur, Barishal

Mujib
Education Borsho
Celebration

NRBC Bank has made donation to BSMMU for research,

scholarship to the students and research publication NRBC Bank donated to Salimullah Muslim Hall for construction of
Statue of Father of the nation Banghabandhu Sheikh Mujibur
Rahman and monument in remembrance of Martyr of our
liberation war in front of Salimullah Muslim Hall premises.
financial support to different educational
institutions for infrastructural development.

96
 Fighting Health
Covid-19

NRBC Bank established a Health line

NRBC Bank has Provided financial assistance to
Number which is open 24/7 and provides
different people for treatment of Chronic Diseases
health related suggestion free of cost.

Donated to COVID-19 Fund Management account

Donation made to Karnakathi Matrisadan Maa o Shishu
and Prime Minister’s relief fund to fight the outbreak
Kollyan Kendra, Barishal for development of the Institute.
of COVID-19 disease.

Donation was made to Bengal Media Corporation for Donation to Cancer Mission Foundation and Bangladesh Disabled
creating awareness for severe Delta variance of Development Trust to take part in the rehabilitation of the cancer
COVID-19 among the people. affected and disabled people of Bangladesh.

Sports Others

NRBC Bank has provided donation to Bangladesh

Donation was made to Department of Youth Development for
Wheelchair Sports Foundation for sponsoring the
publishing supplement on occasion of National Youth Day, 21.
“Jatir Pita Banghabandhu Para Sports Carnival 2021”.

Uphold the NRBC Bank was a Bronze Sponsor of DU 100 year celebration’s mega
spirit of reunion 2021 arranged by Dhaka University Alumni Association.
Independence

Donation to Cancer Mission Foundation and Bangladesh Disabled

NRBC Bank has provided fund for the celebration of
Development Trust to take part in the rehabilitation of the cancer
various National day in this 50th independence of Bangladesh.
affected and disabled people of Bangladesh.

Information, Communication & Technology (ICT)

NRBC Bank has adopted the maximum technological advantages over balance Enquiry, SWIFT Service, Remittance, Off Sore
the modern banking business arena which is still ongoing. As a result, Banking, Centralized Islamic Banking Service, etc. all are fully
NRBC Bank is providing a full technology-based banking facility to its automated.
valuable customer to abide by the defined guideline & compliance 3. Most importantly, NRBC Bank has a well-equipped,
issues of Bangladesh Bank. Basically, NRBC Bank’s operation is fully IT- structured, user-friendly & secure Apps Based Banking
driven where IT is not only an operational tool but also an upfront service namely “PLANET” a complete echo system for
leading pathway. Banking through which NRBC Bank customers can do all
With the best, most effective, secure & user-friendly usage of IT; NRBC types of Fund Transfer between NRBC as well as other banks.
Bank is able to expand its banking service & operation in every corner of Along with this, Mobile Top Up, Utility Bill Payment, Fund
Urban & Rural areas across Bangladesh. To some extent, by using the Transfer to MFS, etc. all types of online Banking transactions
power of IT and a combination of Business; NRBC Bank introduced new can be possible through the “PLANET” App.
banking concepts like Sub-Branch Banking, Partnership Banking, etc. in 4. NRBC Bank keeps its footprint in Govt. the sector where
Bangladesh. countrywide BRTA (Bangladesh Road Transport Authority) &
Land Registration fees collection system is running in a
The below-mentioned points become more clear that NRBC Bank
completely automated way. Moreover, some other Govt.
becomes the mostly IT-driven & IT-oriented bank in the Bangladesh
entities like REB (Rural Electrification Board), DPDC (Dhaka
banking arena. They are:
Power Development Company), DESCO (Dhaka Electric
1. Most of the internal processes like Human Resources, Loan Supply Company), NESCO, WASA (Water Supply Authority),
Processing, Asset Management, Document Archive & TITAS Gas, etc. are also connected with NRBC Bank where all
Management, Check Book Requisition, CIB operation, fees & charges are collected through the real-time
Centralized Dash Board, Centralized Trouble Ticket transaction by the best & effective usage of NRBC ICT System.
Management System, e-Learning Portal, Debit & Credit Card
5. NRBC IT has successfully established a service bus (working
Management System, etc. all are fully automated.
as middleware) through which any third-party
2. Customer-oriented services like Online Account Opening, software/service can be integrated with Core Banking
Debit Card & Credit Card Service with POS Transaction, Q-R System. So that all business operation reflects real-time in
Code based transactions, Internet Banking, Corporate CBS. As a result, business diversification & decision-making
Internet Banking, SMS Banking, Missed Call Alert Service for process becomes too easier and time savings.

97
NRBC Bank is giving always special focus & attention to the 3. ISO 27001:2013
development and being operational of IT-driven business operations. After giving a huge effort finally NRBC Bank achieved the ISO
Based on that each & every year different types of new technology & 27001:2013 over IT Services, Information Security, IT Infrastructure & IT
technology-driven business operations are being introduced. Basically, Governance. Basically, this is a remarkable milestone of ICT Division as
the ICT division of NRBC Bank is contributing here by providing the
well as NRBC Bank.
maximum high-tech support in every step with cooperation and
collaboration with other divisions. In many cases, the ICT division takes
the lead to introduce some technological advantages to it’s client.

Considering all, Overall ICT activities & performance along with

achievements for the year of 2021 are described as under:

1. Planet App & Planet: + new features of NRBC Bank

“PLANET” App.

RTGS Operation Loan EMI Collection

Planet + (Corporate i-Banking)

4. NESCO
After doing great team effort with North Zone Branches, FAD & North
Zone Electric Supply Company (NESCO); ICT Division of NRBC Bank has
successfully brought out the NESCO bill collection system in a real time
process by the proper & effective synchronization with Core Banking
Software (CBS). In fact, the said real time bill collection process
becomes a good source of deposit collection for NRBC Bank. Also,
customer can avail the said bill deposit system in NRBC Bank both in
over the counter & through Internet Banking.

5. SWIFT CSP Audit

The customer Security Program (CSP) has set up to help the SWIFT user
community improve cybersecurity and to facilitate cybersecurity risk
assessment by and amongst users directly. The Customer Security
2. Some Major Automation work done in 2021 by ICT Program includes initiatives such as those set out in the Customer
Division of NRBC Bank Security Program SWIFT Customer Security Controls Framework
Detailed Description, the SWIFT Customer Security Controls Policy, the
Independent Assessment Framework, or the SWIFT ISAC. Thus, Every
SWIFT user has to submit an annual Security Attestation via the KYC-
Security Attestation application (KYC-SA). Once your attestation is
submitted, SWIFT will validate and publish it.

In this connection, the ICT Division took initiative with the assistance of
the International Division to complete the said mandatory task. And
after doing at a stress work the said necessary & mandatory task has
been completed within the stipulated time frame abiding by the all rules
& regulations of SWIFT.

Above mentioned all activities, performance and achievements are

come out after doing a long, continuous and restless journey of ICT
Division where one & only Moto is focusing on each & every ICT Official.
That is:

“NRBC ICT Team Never Sleeps”

98
C1.0 Maintenance of Required Reserve [Section 184 (1b) will help strengthen the capital base for uplift the business position as
of the act] well as expectation or confidence of general shareholders.
In pursuant to Section 24 of the Bank Companies Act 1991 (as amended
2018), NRBC Bank is consistently maintaining the 20% statutory reserve C3.0: Material changes before issue of Directors’ Report
and expecting to maintain it as long as cumulative balance of statutory [Section 184 (1d) of the act]:
reserve reaches at the equal level of sponsored paid up capital. Below Change occurred in nature of NRBC business before issue of
Statutory reserve exceeded Tk. 2,000 million landmarks this year which Directors’ Report before 9th AGM:
is more than half of sponsored paid up capital i.e. 55.49% in compliance
Change in ownership structure of the Subsidiary Company M/s. NRBC
with of the proviso of the act. Statutory reserve stood BDT 2467.27
Bank Securities limited
million at the end of 2021. Following table shows that the last 5 year
statutory reserve position which is remarkable for the bank:
Figure in Million(BDT) unless otherwise Spec
Movement of Statutory Reserve 2021 2020 2019 2018 2017
Beginning Balance 1,866.79 1,458.84 1,050.34 737.87 462.77
Transfer during the period from pre-tax profit 600.48 407.95 408.50 312.48 275.09
Closing Balance of Statutory Reserve 2,467.27 1,866.79 1,458.84 1,050.34 737.86
% of Change over previous year Contribution 32.16% 27.96% 38.89% 42.35% 59%

In the inception of operation of Subsidiary M/s. NRBC Bank Securities

No other reserve was maintained/proposed by Board of Directors
limited, NRB Commercial Bank Limited (NRBC Bank) hold 90% equity
during the year under consideration except Tk.85.49 million as
shareholdings. According to direction of Bangladesh Bank vide their ref
revaluation reserve which is required to maintained as per DOS circular
# BRPD/(AR-1)/717/2021-2745 dated March 01, 2021 and,
# 15 Dated 31/10/2005, DOS circular letter # 03 dated 07/02/2007 and
subsequently, Board of Director of NRBC Bank in its 134th meeting held
DOS circular letter # 05 dated 26/05/2008.
on February 01, 2022 decided to purchase remaining shareholdings
C2.0 Recommendation of dividend [Section 184 (1c) of except 1 (one) and Present minority interest Group (Directors and
the act] Sponsors of the Bank) also agreed good office surrender their
shareholdings to the Bank. In pursuant of acquisition of remaining
Bangladesh Bank adhering dividend policy that announced in 2021 with
shareholdings, BoD was also appointed well known Valuation entity
a view to combat aftershock COVID-19 effect as such the necessity to
M/s. MABS & J Partners, Chartered Accountants for fixation/
strengthen banks’ capital base further has become vital for the coming
recommendation of consideration for completion the process. M/s.
years. Bangladesh Bank issued DOS Circular 01 Dated February 07, 2021
MABS & J Partners, Chartered Accountants served their report vide
under the section 45 of the Bank Company Act, 1991 (amended in 2018)
their letter # N-1416/MABS & J (B)/2021-22/2654 on January 30, 2022
by setting six dividend sub-slabs under two slabs for the banks based on
with recommendation of Tk.20.00 per Share (adopting weighted
their liquidity situation. Bank’s Capital Adequacy Ratio (CAR) stood
average method of Net Asset Value Method, Future Maintainable Profit
13.45% for the year 2021 and falls under Serial no. Ka(3) and Dividend
(Market Relative) and Discount Cash Flow Method) and BoD also fixed
declaration scenario as under:

SL No Capital to Risk Weighted Assets Ratio (CRAR) Dividend Cash Dividend (Max) Stock Dividend
Ka(3) If CRAR mini 11.875% [Without provision deferral] * 15% 7.5% 7.5%

Bank got approval for declaration of dividend from Bangladesh Bank on the price @Tk.20 per share. Regulatory process is under way before
basis of above mentioned proposition vide their letter # DOS issue of Directors’ Report to the shareholders.
(CAMS)/1157/41(Dividend)/2022-1995 dated April 12, 2022.
No other material changes has occurred between the end of the
The Audit committee and the Board of Directors reviewed the dividend financial year and the date of the Directors’ Report placing before the
proposition of central Bank as well as consent of Bangladesh Bank for AGM except the Board of Directors in its 138th Board Meeting held
declaration of dividend. Bank is completed its first year operation after April 13 2022 recommendation of Dividend @ 15% dividend comprising
listing with Dhaka Stock Exchange (CSE) and Chittagong Stock Exchange of 7.5% in the form of cash and 7.5% In the form of Stock for the year
(CSE) through its share trading on March 22, 2021. Hence, considering 2028 which is expected to be approved in the 9th Annual General
the interest of general investors and tract history of dividend declaration Meeting (AGM) of the Bank.
along with stable growth of the Bank, the Board of Directors applied
prudent decision for shareholders. Dividend tract history of the Bank: Figure in million(BDT) unless otherwise specified
Form of 2020 2019 2018 2017 2016
Dividend Rate Taka Rate Taka Rate Taka Rate Taka Rate Taka
Cash 7.5% 351.26 9% 513.98 - - 5% 245 5% 228.97
Stock 5.0% 526.89 2% 114.21 11% 565.95 5% 245 7% 320.56

The Audit committee in its 42nd meeting held on April 13, 2022 and, D1.0: Material Change of the state of company's affairs
subsequently, the Board of Directors in its 138th meeting held on that day [Section 184 (2) of the Act]:
discuss proposition of Central Bank as well as dividend declaration D1.0 (a) Change in Company’s Business Nature [Section 184 (2a) of the Act]
approval from Bangladesh Bank, recommended for 15% dividend No other change in NRBC Banking Business nature except mentioned in
comprising form of Cash and Stock for the year 2021 on record after the preceding para. The Board of Directors intent expands diversified
getting permission from Bangladesh Securities and Exchange Commission: nature of business:
The Board of Director is anticipated this rational proposition of dividend Figure in Million (BDT) unless otherwise Specified
Dividend Form Amount Remarks
7.50% Stock 553.23 Paid up capital will be Tk. 7,929.66.42million
7.50% Cash 553.23

99
 1. Securities Custodian pursuant of acquisition of remaining shareholdings, BoD was also
NRBC Bank has got Custodian License [Registration Certificate No appointed well known Valuation entity M/s. MABS & J Partners,
14/2021 on 24 October, 2021 from Bangladesh Securities Chartered Accountants for fixation/recommendation of consideration
Exchange Commission (BSEC) to act as Custodian Bank after for completion the process. M/s. MABS & J Partners, Chartered
accord by The Board of Directors in its 114th Meeting held on Accountants served their report vide their letter # N-1416/MABS & J
February 15, 2021. Under this window, Bank will provide the (B)/2021-22/2654 on January 30, 2022 with recommendation of
settlement as well as safekeeping in order to minimize the risk of Tk.20.00 per Share (adopting weighted average method of Net Asset
their misappropriation, misuse, theft, and/or loss and, at the same Value Method, Future Maintainable Profit (Market Relative) and
time, reporting of customers' marketable securities and cash for Discount Cash Flow Method) and BoD fixed the price @Tk.20 per share.
customers specially Foreigner as directed by them. New Custodian Financial dealing and transfer of share are under way for the completion
service will be started shortly after compliance of few regulatory of the process.
formalities which will be another avenue for fee based income.
D1.0 (c) Change in Classes of Bank's Business [Section 184 (2c)
2. Asset Management Company (AMC) of the Act]:
NRBC Bank formed another Subsidiary Company M/s. NRBC
Inspiration of cross broader initiative for involved in the global
Bank Assets Management Limited having Incorporation
market, NRBC started another business dimension offshore Banking
(Registered) No C-176879/2021 Dated December 07, 2021
operation on February 7, 2021 after getting approval from
followed on Board of Directors decided the same in its 121st
Bangladesh Bank approval # BRPD (OB)/744 (128)/2020-7786 dated
Meeting held on May 20, 2021. Proposed Company authorized
September 22, 2020. Like as 2020 no material changes for
capital Tk. 2,000.00 Million and Paid up capital Tk.1,000.00
appreciation of the state of the company’s affairs except scale of
Million. Remaining formalities for getting license of "Alternative
operation by its members that have occurred during the financial
Investment License" from Bangladesh Securities Exchange
year 2021.
Commission (BSEC) is underway for manage Mutual Fund or
Investors Fund either company own discretionary or investors
discretionary. Bank hope that new company will be started E1.0 Information and Explanation contained in the
within 2022 and will cutter the portfolio business by pooling Auditors' Report [Section 184 (3) of the Act]:
funds from various individual and institutional investors and A tripartite was being held among Auditors M/s. Howladar Yunus & Co.,
investing in various securities that match with the declared Chartered Accountants and K. M. Hasan & CO, Chartered Accountants,
financial objectives of the Bank Inspection team of Bangladesh Bank with the management of the Bank
on April 07, 2022 for being finalized Audited Financial Statements for
D1.0 (b) Change in the company’s subsidiaries or in the nature the year ended December 31, 2021,. In that meeting, a threadbare
of the business [Section 184 (2b) of the Act]: discussion has been held for assets quality, provision, fair presentation
2021: A good year for the capital market that passed yet another of audited financial statement and internal Control system. Financial
eventful year with a 25 per cent return in the core index of the main statements are finalized by adopting recommendation by both
bourse despite tussles between the two regulatory bodies Statutory Auditors and Inspection team of Bangladesh Bank on basis of
concerned over some policy issues. circular issued by Bangladesh Bank amid of COVID-19.

During the 2021, the Dhaka Stock Exchange (DSE) also posted a The Board Audit Committee of Board has reviewed the Auditors’
decade-high daily turnover value along with a rise in market cap to Opinion as well as Key Audit Matters mentioned in the Auditors’ report
GDP (Gross Domestic Product) ratio. The daily turnover, an along with audited financial statement and, henceforth, forward for
important gauge, stood at Tk 14.75 billion on an average in 2021, up dividend declaration as Board think fit for shareholders in 138th Board
by 127 per cent year-on-year. Strong participation of investors, on April 13, 2022
consolidation of stock prices, comparably high corporate earnings,
and low interest rate on bank deposits were the pivotal reasons F1.0 Related party transactions and its disclosure
behind the decent year for the Bangladesh capital market. The basis for related party transactions has been stated in the Corporate
Bank Subsidiary M/s. NRBC Bank Securities Limited also witness Governance Report and a statement of related party transactions also
another exceptional year of the company having revenue growth presented in the Annexure (I1) of Audited Financial Statements.
was 434.09% over the year 2020 resulting Tk.199.54 million stood as
divisible for the year 2021 which is nearly 50% of its capital i.e. EPS is F2.0 Utilization of proceeds raised through public issues:
4.99. Even though such impressive performance, the Board of Bank received the proceeds of Initial Public Offering (IPO) amounting to
Directors recommended only 15% cash dividend on April 11, 2022 of Tk. 1,200 Million at the end of February 2021 followed on subscription
its 27th meeting that will be approved in the 6th AGM will be held on from February 03, 2021 to February 09, 2021. As per condition number
June 26, 2022. 4, Part C of the consent letter # BSEC/CI/IPO-307/2020/304 dated on
Change in Ownership Structure of the Subsidiary: January 4, 2021, Board of Directors appointed M/s Ashraf Uddin & Co.
Chartered Accountants as Independent Auditor in its 124th meeting
The Board of Directors of NRB Commercial Bank Limited decided that
held on July 27, 2021 for the audit of IPO (Initial Public Offering)
minority shares held by individual shareholders NRBC Bank Securities
utilization fund as on July 31, 2021 for submission of full utilization of
Limited shall be purchased by and transferred to NRBC Bank Limited In
IPO and, accordingly Auditor M/s. Ashraf Uddin & Co. Chartered
order to meet up regulatory requirements of Bangladesh Bank.
Accountants conduct the audit of IPO Utilization. Thereafter, IPO
Subsequently, the Board in its 134th meeting held on 01.02.2022
utilization report submitted to Bank which content as follows:
decided to purchase 99.99% shares of NRBC Bank Securities Limited. In
Purpose Mentioned Time Line for utilization Amount as per Total Utilized Utilized (%) Total Un-utilized
SL. in the Prospectus of IPO as per Prospectus Prospectus Amount Amount
a) Investment in Capital Market:
(i) Govt. Securities 24 Months 1,100,000,000 1,100,000,000 100.00% -
(ii) Secondary Market 24 Months 60,523,624 51,678,210 85.39% 8,845,414
(A Category Listed Securities)
b) IPO Expenses As or when required 39,476,376 48,321,790 122.41% (8,845,414)
Total taka 1,200,000,000 1,200,000,000 -

100
Bank submitted IPO utilization report to the Bangladesh Securities and income of Capital Gain on listed companies Shares and Govt. Treasury
Exchange Commission, The Dhaka Stock Exchange Commission (DSE) Bond by Tk.26.36 Crore & Tk.42.12 Crore respectively over the previous
and The Chittagong Exchange Commission (CSE) on August 17, 2021 and two Quarters. Both capital gains were increased by 194% & 172% than
concerned authority accord the same. Bank utilized the IPO proceed previous quarters contributed nearly in EPS by Tk.1.00 for 3rd quarter.
within 3 (three) month which was much earlier than 24 months as
mentioned in the prospectus. In Mid of 2nd quarter, stimulus package of Govt as well as disbursement
of loan were being increased compel to negative Net Operating Cash
F3.0: Financial Condition of the Bank after Initial Public Flows per Share (NOCFPS) for that quarter and remaining quarter such
Offering (IPO) demand of loan impact interest income.
Bank got impressive response from general public i.e., 10,43,303 nos of
In 4th quarter, Bank had kept provision against investment in listed
applications have been submitted by the general public against of the
company due to experienced volatility in the closing three months i.e.,
allotted amount raised by initial public offerings which is 10.86 times
October-December 2021 and Bank also kept provision investment in
more than the allotted shares and Board of Directors in its 114th
preferred stock Tk. 37.48 million as per directive of Bangladesh Bank.
Meeting held on 15 February 2021 expressed satisfaction such response
Furthermore, Special Covid General Provision@2% on Loan account
from General Public and Institutions. Upon on compliance of all
who’s repaid 25% of their loan Installments due for the Year 2021 except
regulatory formalities, Bank was entitled to used such IPO proceed on
CMSME for 1.5% whose have to repay only 15% of total due installments
April 29, 2021
for the year 2021 as BRPD Circular Letter No-50 and 52 dated December
14 and 29, 2021 bound to kept Provision of Tk. 755.38 million that
In the Prospectus of Initial Public Offering (IPO), it was enumerated that
impact in the bottom line but near average profitability.
Bank would be used for enhancing the Tier 1 Capital Base of the
Company inter alia proceeds from IPO through issuance of 120,000,000
nos. of ordinary shares at an issue price of Tk. 10.00 each at par totaling F5.0: Remuneration of directors
Tk. 1,200,000,000 and Bank accordingly did the same as mentioned in The Bank does not pay any remuneration to its Directors other than
the previous para. purpose stated in the relevant Bank Companies Act and prevailing BRPD

Figure in Million otherwise specified

Particulars 2021 2020 Increase/(Decrease) over 2020
Loan and Advances/Investment 104,898.31 74,835.73 40.17%
Deposit 120,826.81 95,311.13 26.77%
Stockholder Equity 11,808.62 10,997.54 7.38%
Balance Sheet Size 153,552.38 116,620.41 31.67%
Net Asset Value (NAV) Per Share in BDT* 16.01 13.28 2.73 Per Share
Net profit after taxation 2,083.94 1,342.83 55.19%
Earnings Per Share (EPS) in BDT * 2.83 1.82 1.01 Per Share
* Restated [After considering 5% Stock Dividend approved in the 8th AGM]

IPO utilization elapsed 8 (eight) months after getting IPO proceed and all circulars. As per the BRPD circular no.03 dated 18/01/2010 and BRPD
index of financial performance were increased than previous year: Circular letter no. 11 dated 04/10/2015, Chairman may be provided
On basis of above data, financial health of the Bank was impressive after with a car, telephone, Office chamber and private secretary. Directors
post IPO, specially total assets of the Bank increased by Tk. 37,000 are entitled to fees and other benefits for attending Board, EC, Audit
million as well as Return on Assets (ROA) is 1.68%. Hence, Board of Committee, RMC and Shariah supervisory committee meeting.
Directors recommend @ 15% dividend which 2.5 % higher than the Managing Director is ex.officio of the Bank and entitled to get salaries
Financial Year 2020. and allowances as per approval of the Board and Bangladesh Bank.

F4.0: Quarterly Performance study and any variance F6.0: Fair Presentation of the financial statements by the
thereof management
Operating Profit increased over the quarters in 2021. Net Interest The Management of NRBC bank is responsible for the preparation and
income in the 2nd and 4th are comparatively higher than others quarters fair presentation of the consolidated financial statements of the Group
due to interest/rebate income for fund involvement in foreign trade. and also separate financial statements of the Bank in accordance with
Bank has taken the benefit of positive growth of capital and Bond market IAS/IFRSs. Furthermore, both auditors also mentioned responsibility of
in the 3rd Quarter i.e., July to September 2021 resulting low tax bracket
the management under segment “Responsibilities of Management

Figure in Million (BDT) unless otherwise Specified

Particulars Q1, 2021 Q2, 2021 Q3, 2021 Q4, 2021 *QA, 2021 Annual, 2021
Net Interest Income 510.78 718.80 426.98 1,676.88 833.36 3,333.44
Non-Interest Income 1,016.75 902.73 1,644.62 1,199.62 1,190.93 4,763.72
Operating Income 1,527.53 1,621.53 2,071.60 2,876.50 2,024.29 8,097.16
Operating Expenses 804.20 825.14 1,034.96 1,378.40 1,010.68 4,042.70
Operating Profit 723.33 796.39 1,036.64 1,498.10 1,013.62 4,054.46
Provisions 94.93 37.06 164.67 755.38 263.01 1,052.04
Tax Effect 338.41 274.04 153.65 152.37 229.62 918.47
Net profit 289.99 485.29 718.32 590.35 520.99 2,083.95
*QA = Quarterly Average

101
and Those Charged with Governance for the Consolidated and F9.0: Follow up of IAS & IFRS in preparation of financial
Separate Financial Statements and Internal Controls” wherein cited statements
that auditee prepared the consolidated and separate financial Except further extension IFRS 16 under modified retrospective
statements in accordance with International Financial Reporting approach effect from January 01, 2021 mention in the Note # 2.25, The
Standards (IFRSs) as explained in note # 2 and comply with the Banking financial statements of the Bank as at and for the year ended 31
Companies Act, 1991 (as amended up to date), the Companies Act, December 2021 have been prepared in accordance with applicable
1994, the Rules and Regulations issued by the Bangladesh Bank, the Bangladesh Financial Reporting Standards (BFRSs), the “First Schedule”
(section 38) of the Bank Companies Act 1991, as amended (up to 2018),
Rules and Regulations issued by the Bangladesh Securities & Exchange
BRPD Circular No. 14 dated 25th June 2003, other Bangladesh Bank
Commission (BSEC) and other applicable Laws and Regulations and for Circulars, the Companies Act 1994, the Securities and Exchange
such internal control as management determines is necessary to enable Commission Rules 1987, and other laws and rules applicable in
the preparation of consolidated and separate financial statements that Bangladesh.
are free from material misstatement, whether due to fraud or error.
However, if the requirement of provisions and circulars issued by
Regarding fair presentation of the consolidated financial statements of Bangladesh Bank differ from those of other regulatory authorities and
the Group and also separate financial statements of the Bank, Tri-party accounting standards, the provisions and circulars issued by Bangladesh
meeting was held on April 07 2022 among Bangladesh Bank, Statutory Bank shall prevail.
Auditors and Bank Management adopting any recommendation that
As such the Bank has departed from certain specific requirements of
would be error free i.e. fair presentation to the users.
BAS/BFRSs which contradict with those of Bangladesh Bank, being the
prime regulator, which are adequately disclosed in Note 2.2 (i) to (xv) in
There upon the both external auditors Howladar Yunus & Co.,
the financial statements.
Chartered Accountants and K. M. Hasan & CO, Chartered Accountants,
have also provided their opinion on the same by issuing an unqualified F10.0: The internal control system
audit report which that the said consolidated financial statements
Bank involves in diversified & complex financial activities and these
prepared by the Management as at and for the year ended on December activities involve high risk, so the issues of an effective internal control
31, 2021 have been presented fairly, in all material respect, its state of system, good governance, and transparency of all financial activities
affairs, the results of its operations, cash flows and changes in equity. and accountability towards its stakeholders and regulators have
become significant to ensure smooth performance of the banking
F7.0: Proper books of account maintained by the Bank industry throughout the world. Internal Control encompasses not only
NRBC Bank Limited maintains proper books of accounts in line with regulatory and legal requirements but also various internal rules and
prevailing law. Bank has a core banking solution “Bank Ultimus” and policies, procedures and practices based on the best practices of Local
and global banks. Role of Internal Control becomes important in
application software for proper recording of all transactions in
preventing and detecting fraud to protect the organization’s resources.
compliance with the Companies Act, 1994 and Bank Companies Act, Internal control is a process, rather than a structure. It is not a separate
1991. The external auditors Howladar Yunus & Co., Chartered activity disconnected from the rest of the business activities, rather is an
Accountants and K. M. Hasan & CO, Chartered Accountants have integral part of those activities. It is a dynamic, continuing series of
provided their Audit Report Segment “Report on other Legal and activities planned, implemented and monitored by the Board of
Regulatory Requirements” Directors and Management at all levels within the Bank. Internal
Control contains Internal Audit, Compliance and Monitoring of the
F8.0: Consistent application of appropriate accounting bank.
policies as well as accounting estimates
As per the ‘Guidelines on Internal Control & Compliance in Banks’ issued
NRBC Bank consistently apply accounting policies i.e., specific
by Bangladesh Bank vide BRPD Circular No. 03/2016 dated 08.03.2016
principles, basis, conventions, rules and practices in preparing and
& 06/2016 dated 04.09.2016, the Head of ICCD reports to the Senior
presenting financial statements in order to comparability between Management of the Bank dotted line to Audit Committee of the Board
financial statements of different accounting periods except further (ACB) for discussion & necessary information. However, the Head of
extension of the application of IFRS 16 under modified retrospective Audit, although being a part of ICC administratively, reports directly to
approach effect from January 01, 2021 taking into consideration of 18 ACB and is responsible to the ACB. Internal Control & Compliance
Branches having more than 5 Years lease term. Hence, Materiality Division (ICCD) of NRBC Bank acts as a watchdog to ensure safe, sound
and compliant operations of the Bank. ICCD regularly provide updates
threshold is 10.40% of the discounted lease liability for the year 2021
to Audit Committee of the Board regarding safe and sound operations of
(up to Lease term with lessor) of capital of the Bank Tk.7,376,428,479 overall internal control process. To minimize the operational risks of the
for right of use of assets. Bank, the Division conducts regular along with surprise
audit/inspection on the business affairs of the Bank based on Internal
NRBC Bank reviewed accounting policies and underlying assumptions Audit manuals and various instructions, rules, procedures laid down by
as mentioned in the previous para, therefore additional expense of Bangladesh Bank and other regulatory authorities from time to time.
Tk.21.91 million incurred for the year ended December 31, 2021
extended adoption of IFRS 16 [Lease Interest and Depreciation on ROU Detail of functional activities of ICC in the department segment.
are more than rental payment to the lessor]
F11.0:Protection of minority shareholders’ interest
Both Auditors also mentioned as key audit matter in their Audit Report Being as a Listed Company, Board of Director represent or acts on
as Measurement of Right of Use Assets and Lease Liability behave of shareholder. Presently no minority shareholdings exist in the
proposition share structure. NRBC has a subsidiary M/s. NRBC Bank
Securities wherein bank hold 90% shareholding of the that concern and
The significant accounting policies applied and accounting estimates remaining 10% minority shareholding’s interest duly protected in line
used for preparing the financial statements of the Bank have been with statutory remedy in section 233 of the Companies Act, 1994 of
stated in detail in the notes # 2 In the Audited Financial Statement. Bangladesh.

102
In early 2021, Bangladesh Bank had given a direction vide their ref # F14.0:Board’s statement on bonus share or stock dividend
BRPD/(AR-1)/717/2021-2745 dated March 01, 2021 regarding no as interim dividend
minority would be exist in the NRBC’s Subsidiary. As such, Board of
The Board of Directors did not declare/recommend any bonus or stock
Director of NRBC Bank in its 134th meeting held on February 01, 2022
dividend of its total 20 Board Meetings which were held during the
decided to purchase remaining shareholdings except 1 (one) that
year 2021 before Unaudited Financial Statements were placed before
vested to Ex. Officio Managing Director & CEO and minority interest
Board by the Management. The Board of Directors also affirmed that
Group (Directors and Sponsors of the Bank) also agreed good office
Company i.e. NRBC Bank Limited has no intention to declare any
surrender their shareholdings to the Bank. Thereafter, no minority
interim dividend in form of Bonus or Stock Dividend in 2022.
interest would be exist its subsidiary company.

F12.0:Going Concern of NRBC’s Business Ability F 15.0: Board meetings and Members’ attendance thereof
Going concern is one of the fundamental assumptions in accounting on The Board of Directors reconstitute in the 123rd BoD meeting followed
on 8th Annual General Meeting held on 26 June 2021 wherein Mr.
the basis of which financial statements are prepared.
Rafikul Islam Mia Arzoo is elected as Vice Chairman for the first time.
Subsequently, Bangladesh Bank accord the Board without any
NRBC Bank is assess its going concern ability wherein no significant
modification.
doubt upon Banks ability to continue its business in the foreseeable
future. The consolidated financial statements of the Bank have also The Board holds meeting on a regular basis usually once or twice in a
been prepared on the assumption that the entity is a going concern month, but emergency meetings are called when required. Due to the
and will continue in operation for the foreseeable future. Hence, it is COVID-19 pandemic, the meetings of the Board were mostly held
assumed that NRBC has neither any intention nor in need of liquidate through video conference in line with Bangladesh Bank instructions.
or curtail materially the scale of its operations in near future despite of
Third wave of COVID -19 pandemic spread all over the country at the During the year 2021, total 21 Board Meetings were held. The
early of 2022. attendance records of those meetings are as follows:

The issue of going concern is also reported in the audited financial The attendance records of the above include presence of respective
statement in the Note # 2 and also both auditors assess the going Alternate Directors and presence through video conference where
applicable.
concern ability mentioned in their auditors’ responsibility of the audit
report issued by them.
F16.0: The Pattern of shareholding and disclosure thereof:
F13.0: Explanation for composition (Cash Vs Stock) a) Parent/Subsidiary/Associated Companies and other related
dividend recommended by Board parties:
Like as previous year, to mitigate aftershock COVID -19 effect due to Bank has neither any parent/Associated yet to exist, nor its only
deferral of loan repayment by the borrower for the year 2021 as well as Subsidiary company M/s. NRBC Bank Securities limited hold any share of
intensify the capital structure in the Banking Sector, The Bangladesh the Bank i.e., all share hold by Sponsors/Promoters and Shareholders.
Bank further enforced tightening dividend policy for banks to counter a b) The Shareholding Pattern:
probable wave of default loans. Therefore, Dividend policy is linked NRBC Bank entered into 2nd year trading after first trading on
with financial strength as per DOS Circular 01 Dated February 07, 2021 March 22, 2021. Below is the Shareholding Pattern of the
i.e. fully based Capital to Risk Weighted Assets Ratio (CRAR). Sponsors/Shareholders for the year ended December 31, 2021:
c) Ownership Composition for the year ended December 31 :
Considering such regulation as mentioned above, The Board of In comparative year ownership Composition has been changed due
Directors of NRBC Bank recommended for 15% dividend comprising to Pre-IPO versus post IPO. New 120 million shareholders through
7.5% in the form of cash and 7.5% In the form of Stock for the year 2021 Initial public offerings (IPO) and 5% stock dividend approved in the
in its 138th meeting held on April 13, 2022 which is 2.5% higher the 8th AGM held June 26, 2022 resulting composition of share has
composition of 2020 and such dividend will be entitled on the been changed. Hence, shareholdings of Sponsors/Directors’ stood
73.31% of post IPO and remaining share hold by Public/Shareholder
shareholding at record date on May 11, 2022.
is 23.98% and Institutions is 2.70% as of December 31, 2021:

SL Name of the Members Status in the Board Number of Meetings Attended/Total Number of
1 Mr. S M Parvez Tamal Chairman 21/21
2 Mr. Rafikul Islam Mia Arzoo Vice Chairman 21/21
3 Mr. Mohammed Adnan Imam, FCCA Director 21/21
4 Mr. A M Saidur Rahman Director 21/19
5 Mr. Mohammed Oliur Rahman Director 21/15
6 Mr. Abu Bakr Chowdhury Director 21/17
7 Mr. Loquit Ullah Director 21/20
8 Mr. Mohammed Nazim Director 21/20
9 Mr. AKM Mostafizur Rahman Director 21/21
10 Air Chief Marshal Abu Esrar (Retd.) Independent Director 21/21
11 Dr. Khan Mohammad Abdul Mannan Independent Director 21/20
12 Dr. Raad Mozib Lalon Independent Director 21/20
13 Mr. Golam Awlia Managing Director & CEO 21/21

103
 Share Holding Range Number of Shareholders No. of Shares Ownership (%)
0000000001-0000010000 17,127 24,268,565 3.290%
0000010001-0000020000 766 11,364,951 1.541%
0000020001-0000030000 309 7,722,663 1.047%
0000030001-0000040000 188 6,599,350 0.895%
0000040001-0000050000 117 5,420,939 0.735%
0000050001-0000060000 73 4,029,759 0.546%
0000060001-0000070000 52 3,387,050 0.459%
0000070001-0000080000 39 2,951,679 0.400%
0000080001-0000090000 17 1,432,333 0.194%
0000090001-1000000000 268 670,465,558 90.893%
Total: 18,956 737,642,847 100.00%

d) Shareholding structure of directors is as follows as of December 31, Association (AOA) of the Bank.
2021 as well as on record date May 11, 2022:
The Board of Directors held 31.75% of outstanding share which is According to Section 15 and 15AA of Banking Act, 1991 (amended 2018)
above of BSEC Directive No. SEC/CMRRCD/2009-193/119/ define election process along with tenure for being hold office as
Admin/112 dated November 22, 2011: Director of Bank. Furthermore, BRPD Circular # 11 dated October 27,

31st December,2021 31st December 2020

Status with the Bank
Number of Shares % of total Shareholding Number of Shares % of total Shareholding
Sponsors/Directors 540,800,594 73.32% 515,048,214 88.42%
Public/Shareholders 176,901,317 23.98% 67,468,784 11.58%
Institutions 19,940,936 2.70% - -
Total 737,642,847 100.00% 582,516,998 100.00%

Aforesaid directors except independent directors hold above of 2% and 2013 and BRPD Circular letter # 20 dated April 04, 2021 clarify the
below 5% of the paid-up capital as per directive of BSEC. formation of Board of Directors.
Bank will elect the Directors in line with the said clauses of Article of
e) Shareholding position of Managing Directors & CEO, CFO, CS and
Association (AoA) as well as relevant provision of Banking Company act,
Ho-ICC along with their spouse and minor child :
1991 (amended 2018).
NRBC Bank completed its 1st year Audited Financial Statements after
Trading Share inaugurated on March 22, 2021 followed on IPO BSEC’s G1.0:Independent Directors and Their Qualification
consent letter ref: BSEC/CI/IPO-307/2020/304 dated January 04,
Shareholders in the 8th Annual General Meeting (AGM) accord the
2021.Aforesaid official affirm that including Managing Director & CEO appointment of Independent Directors and it’s hence forth requisite
did not hold any Share of NRBC Bank as of December 31, 2022 and on Independent Directors hold position in the Board i.e., one fifth (1/5)
record date. Independent Directors in the Board.

SL Board of Directors Status Shareholding Holding %

1 Mr. S M Parvez Tamal Chairman 34,715,692 4.71%
2 Mr. Rafikul Islam Mia Arzoo Vice Chairman 31,986,799 4.34%
3 Mr. Mohammed Adnan Imam,FCCA Director 17,255,843 2.34%
4 Mr. Mohammed Oliur Rahman Director 25,872,208 3.51%
5 Mr. Abu Bakr Chowdhury Director 28,248,937 3.83%
6 Mr. Loquit Ullah Director 27,999,874 3.80%
7 Mr. Mohammed Nazim Director 28,062,228 3.80%
8 Mr. A K M Mostafizur Rahman Director 20,787,159 2.82%
9 Mr. Abu Mohammad Saidur Rahman Director 19,287,960 2.61%
10 Air Chief Marshal Abu Esrar (Retd.) Ind. Director 0.00 0
11 Dr. Khan Mohammad Abdul Mannan Ind. Director 0.00 0
12 Dr. Raad Mozib Lalon Ind. Director 0.00 0
Total 234,216,700 31.75%

F1.0: Rotation of Director Now the Board of Director consist 12 (Twelve) members including 3
(Three) Independent as per BSEC’s Notification No.BSEC/CMRRCD/
Every year in Annual General Meeting, one third (1/3) of the directors
2006-158/207/Admin/80, dated 03 June, 2018. Details of Independent
who are serving the longest in office since last election will retire from
the Board of Directors. Retired Director(s) will eligible for re- Directors qualification are given below:
appointment by complying the clause 106,107 and 108 of Article of

104
 Approval of Appointment
Independent Director Qualification/Profile
before 8th AGM
Air Chief Marshal Abu Esrar, BBP; ndc (Retd), has joined as an Independent Boards of its 100th Meeting
Director of NRBC Bank Limited. He served Bangladesh Air Force for almost 40 appoint as Independent Director.
years. During his illustrious career in BAF, he assumed the highest position of There upon BSEC vide letter #
Bangladesh Air Force as Chief of Air Staff. Before that he served as the Assistant BSEC/CFD/58/2017/137 Dated
Chief of Air Staff at Air Headquarters and also commanded number of Bases of August 20, 2020 accord the
Bangladesh Air Force. He also served as Defense Attaché at Embassy of appointment and, subsequently,
Air Chief Marshal Abu Bangladesh in Russia. He was a Distinguished Graduate from Air Command and Bangladesh Bank confirm the
Esrar, BBP; ndc (Retd) Staff College, Air University, USA in 1993-1994. He completed NDC course from same vide # BRPD # 2 (651)/9(61)
National Defence College, Mirpur in 2002. During his glorious career, he earned DL/2020-6802 dated August 27,
many awards from home and abroad. he was awarded ‘King Fahad Merit of 2020
Excellence Medal’ from His Majesties King of KSA in 2017. He was also included
in the ‘International Honour Roll’ of the Air University, Alabama, USA in 2016. Air
Chief Marshal Abu Esrar was awarded prestigious Biman Bahini Padak (BBP) of
Bangladesh Air Force in 2013 for his outstanding contribution to BAF.
Dr. Khan Mohammad Abdul Mannan was Inspector General of Registration of Boards of its 105th Meeting
Bangladesh (Senior District & Sessions Judge), Registration Directorate. Before appoint as Independent
that he was a District & Sessions Judge at Jhenidah, Bangladesh. He completed Director. There upon BSEC vide
his PhD from American World University, California, USA. He also completed his letter # BSEC/CFD/58/2017/216
DLC (Development Lawyers Course) from International Development Law Dated November 04, 2020
Institute, Rome, Italy in the year 1992. During his glorious career, he was accord the appointment and,
Dr. Khan Mohammad
involved in a number of extracurricular activities, such as discharging duties as subsequently, Bangladesh Bank
Abdul Mannan
the Vice President of Bangladesh Judicial Service Association, Present of confirm the same vide # BRPD #
Bangladesh Law Association, Founder Secretary General of Padma Degree 2 (651)/9(61) DL/2020-9537
Collage, Dohar and so on. He actively participated in the liberation war of dated November 09, 2020
Bangladesh in 1971.
Dr. Raad Mozib Lalon is a renowned Faculty Member of Department of Banking Boards of its 106th Meeting
and Insurance, University of Dhaka. Previously he discharged duties as a appoint as Independent Director.
respected faculty member in different private universities of Bangladesh. He There upon BSEC vide letter #
completed his PhD from University of Dhaka on Banking in the year 2018. He is a BSEC/CFD/58/2017/228 Dated
specialist of Multinational Financial Management, Risk Management in November 16, 2020 accord the
Commercial Banking/ Financial Institution, Investment Analysis & Modern appointment and, subsequently,
Dr. Raad Mozib Lalon
Portfolio Management and so on. During his illustrious career, he conducted Bangladesh Bank confirm the
many research and achieved a number of awards for his merit, such as Dean’s same vide # BRPD # 2 (651)/9(61)
Merit Award, Certificate of Merit from University of Dhaka. He wrote a number DL/2020-9918 dated November
of International Journals on Finance and Banking, Economics and Business 19, 2020
Management Studies.

H1.0: Appointment of Statutory Auditors of the Bank M/s. Howladar Yunus & Co., Chartered Accountant is eligible for
[Section 210 of the act] reappointment for the year 2022 due to being as statutory auditor
completed 2 years out of 3 years. By this time, M/s. Howladar Yunus &
Appointment of Statutory Auditor is the 4th Agenda of the motion of
Co., Chartered Accountant is submitted their willingness before Board
9th Annual General Meeting and appointment of auditors disseminates
for appointment for the year 2022
for consideration by Hon’ble shareholders:

M/s. K. M Hasan & Co., Chartered Accountant and M/s. Howladar Yunus The Audit Committee of Board of its 43th meeting held on May 12, 2022
& Co., Chartered Accountant were statutory auditors for the year 2021 review eligibility of Both auditors from the latest panel of Auditors' of
and have completed 3rd year and 2nd year of Audit of the Bank BSEC (Updated as on July 30, 2020) in their website for audit of listed
respectively. company and Bangladesh Bank eligible list approved in the 74th audit
committee meeting held on 17/06/2021 for Auditing of Banks and
In pursuant of the section 210 (2) of the companies Act, 1994 seconded Financial Institutions. The Audit Committee of Board expressed their
by Article 149 of the Articles of Association of the Company (NRBC Bank concerned for appointment of M/s. Howladar Yunus & Co., Chartered
Limited), Auditor(s) will be appointed in the annual General Meeting Accountant will be sole statutory auditor for the year 2022.
(AGM) along with their remuneration and hold office till to next AGM. After confirmation from the Audit Committee of Board, The Board of
However, according to BRPD Circular Latter No.12 dated 11 July 2001 Directors of its 140th meeting held on May 12, 2022 accord aforesaid
and Clause 2 (2 & 3) of Gazette notification of BSEC/CMRRCD/2006- auditor with remuneration of Tk.500,000.00 (excluding VAT) for the
158/208/ Admin/81 dated June 20, 2018 next term until 10th AGM of the Bank.

“The company shall not appoint any firm of chartered accountants But, final approval of appointment of Auditor along with remuneration
(Panel of Auditor means any partnership firm of Chartered Accountants will be effect in the 9th Annual General Meeting (AGM) that will hold on
selected by BSEC) or The auditor or audit firm shall not also be eligible as June 2, 2022.
its statutory auditors for a consecutive period exceeding three years”.
However, final approval for appointment of auditors will be confirmed by
M/s. K. M Hasan & Co., Chartered Accountant has completed 3rd year as Bangladesh Bank after 9th AGM confirmation subject to compliance of
statutory of the Bank and not eligible for reappointment for the year terms and condition of the BCD Circular letter no. 33 dated 23 December
2022 to 2024 as mentioned in the previous para. 1992 along with BRPD Circular letter no 12 dated 11 July 2001.

105
I1.0: Appointment of Corporate Governance Compliance Bank paid total tax 33.23 percent higher than that of prior year. The
Auditor/Professional and fix their remuneration Bank has paid BDT 289.30 million as VAT to the government which is
[BSEC/ CMRRCD/2006-158/207/Admin/80 dated 69.28 percent higher than 2020 and 140.46 percent higher than that of
June 18, 2018] 2019. On the other hand, Excise Duty from depositors and loan account
Appointment of Corporate Governance Compliance Auditor is the 5th holders was deposited BDT 239.18 million in 2021 which is 51.34
Agenda of the motion of 10th Annual General Meeting and percent higher than 2020 and 75.85 percent higher than that of 2019. In
appointment is disseminating for consideration by Hon’ble total BDT 2,152.84 million has been deposited/paid to Government
shareholders: Treasury in 2021.

As per clause 9 (Reporting and Compliance of Corporate Governance) of Entitlement to Dividend on record date
BSEC/CMRRCD/2006-158/207/Admin/80 dated June 18, 2018: The Shareholders whose names would appear in the Register of
Members of the Bank and/or in the Depository on the ‘Record Date’
“The company shall obtain a certificate from a practicing Professional
which is Monday, May 11, 2022, would be entitled to receive the
Accountant or Secretary (Chartered Accountant or Cost and
dividend of the Bank as recommended by Board of its 138th Meeting
Management Accountant or Chartered Secretary) other than its
held on the April 13, 2021. The Shareholders whose names would
statutory auditors or audit firm on yearly basis regarding compliance of
appear in the Register of Members of the Bank and/or in the Depository
conditions of Corporate Governance Code of the Commission and shall
on the ‘Record Date’ would be eligible to join the AGM and entitled to
such certificate shall be disclosed in the Annual Report.”
receive the annual/ final dividend of the Bank.
Husain Farhad & Co. Chartered Accountants was appointment as
Corporate Governance Compliance Auditor in the 8th AGM for the year 9th Annual General Meeting
2021 and already submitted their Compliance Corporate Governance 9th (Ninth) Annual General Meeting (AGM) of the Bank will be held on
with opinion of “Compliance is Satisfactory in all respect” Thursday 02 June 2022 at 11.00 A.M BST virtually through Digital
Platform by using the the link https://nrbcbank.bdvirtualagm.com as
For 2nd time appointment of Corporate Governance Compliance Auditor per Directive of BSEC [Ref. SEC/SRMIC/04-231/932 dated 24 March
after listing, Husain Farhad & Co. Chartered Accountants also submitted 2020] and Bangladesh Bank [Ref. BRPD Circular Letter no. 09 dated 23
their willingness for reappointment for the year 2022. At the same time, March 2020]. The Directors' Report and Financial Statements for the
few other practicing Professional Accountant or Secretary submitted year ended December 31, 2021 were adopted in the 138th Board
their proposal for being appointment as Corporate Governance Meeting held on the April 13, 2022 for approval of the Shareholders in
Compliance Auditor. the AGM.

After consider all proposals, the Board of Directors in its 140th meeting
Vote of Thanks
held on May 12, 2022 appointed M/S Ahmed Zaker & Co. Chartered
Accountants as Corporate Governance Compliance Auditors of the Bank Lastly, we remain again our journey for being listing with stock
for the year 2022 at a remuneration of Tk. Tk.50,000.00 excluding VAT exchanges in 2021 and histrionic trading on March 22, 2021. The Board
and, such appointment will be confirmed in the 10th AGM. of Directors also take the opportunity to express thanks and gratitude to
all the shareholders, valued customers, patrons and well-wishers at
Govt. Revenue Collection and Contribution of NRBC in the regium home and abroad who have extended their co-operation and support
of 2nd wave of Covid -19 Pandemic. and contributed to put the bank at a distinctive edge over the
The economy is recovering after lockdown due to coronavirus is eased. competitors. We would like to express our gratitude to the Government
economic activities, including production, consumption, Import and of the People's Republic of Bangladesh, Bangladesh Bank, Bangladesh
Export is returning to full swing. NBR witnessed a positive growth rate in Securities and Exchange Commission (BSEC), other regulatory bodies

Figure in million
Khat of Govt. Revenue 2021 2020 2019 2018 2017
Corporate Tax paid by bank & Tax deduction at Source 1,624.36 1,219.15 666.00 548.87 975.61
VAT 289.30 170.90 120.31 89.93 84.90
Excise Duty 239.18 158.34 104.63 90.05 58.62
Total 2,152.84 1,548.40 890.94 728.84 1,119.13

revenue collection compared to previous period. In the Fiscal year and financial institutions for their continued guidance and advice
2021-22 till December 2021, there is a positive growth of 16.82% towards betterment of the bank. Finally, the Board would like to place
compared to previous fiscal period for the same. on record their heart-felt gratitude and appreciation to the
Management and employees at all levels for their dedication and
NRBC Bank paid Tax on its income, Tax deducted at sources, VAT relentless efforts to place the bank on a prestigious position.
deducted at Sources, and Excise duty from Depositors complying the
prevailing laws which growth scenario nearly 39% more of 2020. Trend
of corporate tax on income, withheld Tax, VAT and Excise Duty paid by
the Bank over the last five (05) years are as follows:

The NRBC Bank has paid/deposited total tax of BDT 1,624.36 million, Tax
deduction at Source of BDT 917.16 million, and corporate tax of BDT S M Parvez Tamal
707.20 million in the financial year 2021/Assessment Year 2022-2023. Chairman

106
Audit Committee Report
to the Shareholders

Dear Shareholders and Stakeholders,

I am pleased to present our Annual Audit Committee Report, which depicts the activities of the Audit Committee of the Board (ACB) throughout the
year and the insight it had while disposing the issues.

I have been discharging my duties as the Chairman of the Audit Committee of the Board since October 29, 2020 duly elected by the Board of Directors in
its 106th Board Meeting held on October 29, 2020 in line with the BRPD Circular No. 11 dated October 27, 2013 and the Bangladesh Securities &
Exchange Commission (BSEC) Notification on Corporate Governance dated June 03, 2018. The Audit Committee was formed with the objectives to
establish a platform for a compliant and secured banking structure in the Bank. On behalf of the Board, the Audit Committee strives to ensure effective
implementation of the process and procedures set out in the Business Plan & Policies. The Audit Committee also reviews the internal control regime
and compliance status of the bank as a whole.

Functions of the Audit Committee

The Audit Committee is one of the Sub-Committees of the Board of Directors responsible for oversight of the financial reporting process to ensure
Financial Statements reflect true and fare view of the state of the Company, ensuring balanced internal monitoring system within the business,
selection of the external auditor and review of the audit & compliance reports. The Committee assists the Board of Directors to fulfill its corporate
governance and oversee the responsibilities in relation to the entity’s financial reporting, internal control system, internal & external audit functions
and compliance with applicable laws, rules & regulations. The main responsibilities of the Audit Committee are as follows:

– Review the adequacy of Internal Control System,

– Review the Choice of Selection of Accounting Policy and principles,
– Review Financial Reporting Process & Financial Statements,
– Review Internal Audit & Inspection Reports and External Auditors Report (Management Report),
– Monitor the Internal Control Risk Management Process and Compliance culture,
– Recommendation for appointment of External Auditors and review performance,
– Compliance of rules & regulations etc.

Particulars of the Audit Committee

Consequent to the 8th Annual General Meeting, the Audit Committee of the Board of Directors was reconstituted in the 123rd Meeting of the Board of
Directors of the Bank held on June 29, 2021 in accordance with the BRPD Circular No. 11 dated October 27, 2013 issued by Bangladesh Bank comprising
05 (Five) directors of the Board including 02 (two) independent directors of the Board:

SL Name Status with the Committee Status with the Board

1 Air Chief Marshal Abu Esrar (Retd) Chairman Independent Director
2 Mr. Rafikul Islam Mia Arzoo Member Vice Chairman
3 Mr. Mohammed Nazim Member Director
4 Mr. AKM Mostafizur Rahman Member Director
5 Dr. Raad Mozib Lalon Member Independent Director

Mr. Md. Reaz Uddin Asif acts as the Secretary of the Audit Committee as per regulatory guidelines and Senior Officials of the Bank attended the
Meetings on invitation as and when required.

Meetings of the Audit Committee and Major Focused Areas

Bangladesh Bank has suggested Banks to hold at least 04 (four) meetings in a year. The Audit Committee of NRB Commercial Bank Limited held 05 (five)
meetings in the year 2021 and had detailed discussions and review sessions with the Head of Internal Control & Compliance, Chief Financial Officer and
other Bank Officials to discuss the Bank’s financial reporting. The Committee had reviewed the comprehensive inspection reports conducted by the
Internal Auditors on branches/sub-branches/divisions and the annual health report of the Bank and other relevant matters. The Committee had
revised the NRBC Bank ICC Policy 2017, approved the standard reporting format for preparing comprehensive & distance inspection report and the
Guidelines of Shari`ah Audit & Inspection. Further the Committee had discussed about the audit findings and remedial suggestions on various issues
that need improvement. The Audit Committee instructed Management to follow those remedial suggestions and monitor accordingly. Meeting dates
are as follows:

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02
 Sl. Audit Committee Meeting Meeting Date
1. 36th Meeting of the Audit Committee March 31, 2021
2. 37th Meeting of the Audit Committee April 26, 2021
3. 38th Meeting of the Audit Committee May 19, 2021
th
4. 39 Meeting of the Audit Committee July 27, 2021
5. 40th Meeting of the Audit Committee October 24, 2021

During the year 2021, under review, the Committee, inter alia, had undertaken the following activities:

• Reviewed the Risk Based Audit Plan- 2021 and followed up on its implementation status.
• Revised the NRBC Bank ICC Policy- 2017 through inclusion of Guidelines of Shari`ah Audit & Inspection, standard format for preparing
Inspection Report by the Internal Auditors and for conducting Distance Audit by using Distance Audit Checklist and amended the risk-based
Audit frequency.
• Reviewed the Audited Financial Statements of the Bank for the year ended on December 31, 2020 along with the Auditors’ Report thereon and
recommended to forward the same to the Board for consideration.
• Recommended appointment of Statutory Auditors for the financial year 2021 of the Bank in line with applicable laws, rules and regulations.
• Reviewed the Quarterly (Q1, Q2 and Q3) Un-Audited Financial Statements of the Bank for the year 2021, prepared as per Bangladesh
Securities and Exchange Commission Notification No. BSEC/CMRRCD/2006-158/208/ Admin/81 dated 20.06.2018, to evaluate the quarterly
performances of the Bank and recommended to forward the same to the Board of Directors of the Bank for consideration.
• Reviewed the major findings identified by the Internal Auditors from their Inspection Reports and Bangladesh Bank Auditors from their
Inspection Reports and advised the Management of the Bank to take corrective steps for rectification.
• Reviewed the Self-Assessment Reports of Anti-Fraud Internal Controls of the Bank.
• Reviewed the Annual Health Report of the Bank for the year ended 2020.
• Reviewed the Summary of Audit Findings.

Acknowledgement
The Audit Committee of NRB Commercial Bank Limited expresses its sincere thanks and gratitude to the Board of Directors, Management and the
Auditors for their support in smooth operation of the Bank.

Air Chief Marshal Abu Esrar (Retd.)

Chairman of the Audit Committee of the Board

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02
 CREDIT RATING 2020
Credit rating generally reflects the strengths of a bank, which is
manifested in a strong management team; sustainable growth in
interest income, non-interest income, loans and advances and A Long Term Rating
deposits; sustenance of adequate capital levels; improving asset
quality and robust liquidity position.

In compliance with Bangladesh Bank’s BRPD circular No. 06, dated

July 05, 2006, and with a view to assure investors and other ST-2 Short Term Rating
stakeholders of the sustainable operating positions of the bank,
while also safeguarding stakeholder interests, NRBC Bank is subject
to ratings assessment by reputed credit rating agencies. Thus, the
bank was rated by, Emerging Credit Rating Limited (ECRL), for the
year ended 31 December 2020 and Credit Rating Information and
Stable Outlook
Services Limited (CRISL), for the year ended 31 December 2019.

Rating Pronouncement of ECRL

An institution rated A has a strong capacity to meet its financial commitments but is somewhat more susceptible to adverse
A developments in the economy, and to business and other external conditions than Institutions in higher-rated categories. Some
minor weaknesses may exist, but these are moderated by other positive factors.

An institution rated ST-2 has a strong capacity to meet its financial commitments in a timely manner; however, it is somewhat
ST-2 susceptible to adverse developments in the economy, and in business and other external conditions.

STABLE Which indicates that a rating is likely to remain unchanged;

Credit rating
NRBC Bank has been assessed by leading credit rating agencies. These include Emerging Credit Rating Limited (ECRL) and Credit Rating Information and
Services Limited (CRISL) based on financial statements December 31, 2020 and 2019 respectively as well as other quantitative and qualitative
information, NRBC Bank’s ratings are as follows:

Rating by Emerging Credit Rating Ltd. (ECRL) Long Term Short Term
Rating Agency
Rating based on Audited financial statements as of 12/31/2020 2020 2019 2020 2019

Validity June 21,2022 Emerging Credit Rating Ltd. (ECRL) A ST-2

Outlook Stable Credit Rating Information Services Ltd. (CRISL) A ST-2

2020 2019

A ST-2 A ST-2

These ratings signify that

• NRBC Bank is backed by its good growth in total asset, deposit and loans.
• Good NPL ratio compared to industry.
• Diversifying business into SME to reduce the loan concentration.

110
 CORPORATE
GOVERNANCE REPORT-2021

Statement from the Company Secretary: the Board, serve to communicate to employees at all levels how
business should be conducted. The Board of NRBC Bank Limited is
Dear Shareholders, committed to reviewing and revising our policies and governance
structure with the objective of upholding the highest standards in
It is a pleasure and privilege to present to you the Annual Corporate governance and stakeholder engagement which have been a tradition
Governance Report 2021 of NRB Commercial Bank Limited. The Bank carefully nurtured within NRBC Bank.
which was incorporated in early 2013, became a listed company with
the stoke exchanges having started trading of shares on March 22, 2021 We would like to take this opportunity to thank all regulatory bodies
enabling its transformation as a public domain in the truest sense. involved in overseeing the application of corporate governance across
Hence, we are committed to maintaining the highest standards of the Bank. We have the highest regards for ensuring good governance for
Corporate Governance in NRB Commercial Bank Limited. it is fundamental to the stability of the financial and banking sectors and
therefore the national economy.
The profound changes in the Bank’s operating environment and,
specifically, those in respect to regulatory compliance, have significant We emphasize our commitment to improve the wide range of financial
implications for the process of decision-making. However, one thing and banking services offered by NRBC Bank. We are honor bound to pay
remains unchanged – our steadfast commitment to operating in an special concentration to support a culture of compliance that reflects
ethical, responsible and accountable manner, giving fair consideration adherence to business ethics and transparency as well as an
to the legitimate interests and expectations of all our stakeholders. unquestioned respect for law, legislation and regulations to ensure the
effective contribution in the sustainable development of our country.
Sound Corporate Governance does not merely depend upon policies
and procedures, but it is fundamentally linked to our culture. The theme As a financial institution that is rooted in Bangladesh’s soil, we will do
of change, and how important it is that the Bank and its subsidiaries everything possible to drive the growth potential of our nation and
awakens an ability to manage it responsibly and effectively, runs embrace the highest levels of governance as a key priority in this
throughout our integrated report for the year. Seeking continuous and aspiration.
rapid improvement in relation to a dynamic environment is a feature of
this ability and underpins our approach to corporate governance. It is
valuable therefore to reflect specifically on the milestones we have
attained and the challenges we have undertaken in our corporate With my best wishes,
governance journey and to highlight our focus areas for the year ahead.

Good governance practices provide a solid foundation for the

sustainable growth of business, promoting ethical business conduct
and transparency as we strive to create value for our stakeholders. The Md. Reaz Uddin Asif
corporate values and a comprehensive policy framework approved by Company Secretary

112
02
Statement of Corporate Governance performance and sustainability of the Company, and to protect and
The basic principles of corporate governance are accountability, enhance the interests of their shareholders and stakeholders. Their
transparency, fairness, and responsibility. Good corporate governance governance framework plays an integral role in supporting their
is an essential foundation for long term sustainable corporate success business. It provides the structure through which their strategy and
and enhances the stakeholders’ confidence. We have designed our business objectives are set, their performance is monitored, and the
corporate governance structure to ensure compliance with legal and risks they face are managed. It includes a clear framework for decision
regulatory framework and meeting the information needs of our making and accountability across their business and provides guidance
stakeholders. on the standards of behavior they expect from their people.

NRBC Bank emphasizes its effective corporate governance principles, As a listed Company, NRBC Bank must follow the guideline of
accountability, transparency, fairness, and responsibility in business Bangladesh Securities and Exchange Commission’s Corporate
transactions, statutory and legal compliances, protection of Governance Code, which require disclosing the extent in the Annual
shareholders’ interests; commitment to values and ethical conduct of Report. Especially as per Corporate Governance Code of BSEC, the
business. status of compliance shall be certified by a practicing professional
Accountant/ Chartered Secretary. The Compliance Certificate with
The Board of Directors collectively is the supreme authority in the corporate governance code certified by professional accountants M/s.
Bank’s affairs among its Members’ meetings. They owe a duty to the Hussain Farhad & Co. Chartered Accountants which depict in the Page
shareholders and exercise care, skill and diligence in discharging their No. 127.
responsibilities and in exercising the powers vested in them. The key
purpose of the Board of Directors of NRBC Bank Limited is to ensure the Scope
company’s prosperity by collectively directing the company’s affairs, NRBC Bank operates within the legal framework of the Bank Companies
whilst meeting the appropriate interests of its shareholders and other (Amendment) Act, 2013(updated 2018), Corporate Governance
stakeholders. In addition to business and financial issues, the Board guidelines of Bangladesh Securities and Exchange Commission and the
deals with challenges and issues relating to corporate governance, Companies Act, 1994. It has recognized that corporate governance
corporate social responsibility and corporate ethics and ensures that its guidelines are crucial for achieving a business that is built for the long-
organization and operation are, at all times, in correct and appropriate term.
order. The Board is, among other things, responsible for setting business
objectives, strategies and business plans, formulating risk policies, NRBC Bank is always committed to attain the highest levels of corporate
confirming key aspects of the Bank’s internal organization and making governance practices to ensure sustainable growth of the organization
decisions on the establishment of all business units i.e. Branches/Sub- and to create long-term value for shareholders. Since its inception,
branches/etc. NRBC Bank has continued with its efforts of adopting, implementing
and enhancing the application of the best and most up-to-date
NRBC Bank is committed to excellence in corporate governance, corporate governance standards throughout the organization.
transparency and accountability. This is essential for the long-term

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02
Governance structure of the Bank
The Board of Directors plays a pivotal role in shaping governance management and overall support functions of the bank have been
structures and practices through their choice of strategy and leadership designed and kept fully independent of the ordinary course of business
to drive the bank towards growth. The board is responsible for the to safeguard against any unforeseen events that may weaken the bank’s
design and implementation of governance mechanisms, including the brand value. The governance structure of the bank is as follows:
selection and appointment of members of subcommittees. The risk

Appoint

Report
Elect

Appoint Appoint

Appoint

Guiding philosophy of governance practices

Principles of good governance are embedded in the core values of NRBC notifications, and circulars played a major role in shaping the
Bank, a bank that strongly believes in inclusive and sustainable growth. governance structure and practices of the bank.
As a locally incorporated bank, the following acts, regulations,

External Internal
l The Companies Act, 1994 l Articles of Association of NRBC Bank.
l The Bank Company Act, 1991 l Organizational Structure
l Bangladesh Securities and Exchange Commission (BSEC) l Resolutions of meetings of Management Committees
Ordinance 1969, Rules 1987, Act 1993 and Public Issue Rules l Board approved policies on all major operational aspects
2015
l Code of Conduct of NRBC Bank.
l Circulars, Rules and regulations issued by Bangladesh Bank
time to time
l Internal Circulars
l Dhaka Stock Exchange Limited and Chittagong Stock
Exchange Limited rules and regulations
l Financial Reporting Act 2015

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02
Board of Directors The Board of Directors of NRBC Bank complied with the requirement for
holding meeting at least once in every quarter for the year 2021 as per
Size of the Board of Directors
BRPD Circular # 11, dated October 27, 2013.
The Board of NRBC Bank Limited consists of 12 (twelve) Non-executive
Directors including 03 (three) Independent Directors excluding the In compliance with the Corporate Governance (CG) Code-2018 of BSEC,
Managing Director & CEO wherein the latter is an Executive Director (ex- the Bank in its 100th, 105th and 106th Board Meetings held on 27 June
Officio). 2020, 12 October 2020 and 29 October 2020 respectively appointed
Present Members of Board of Directors is as follows: three Independent Directors Air Chief Marshal Abu Esar (Retd.), Dr.
Khan Mohammad Abdul Mannan and Dr. Raad Mozib Lalon as per
SL No Name of the Directors Position requirements of CG Code-2018 of BSEC, BRPD Circular # 11, dated
01 Mr. S M Parvez Tamal Chairman October 27, 2013 and completed all regulatory compliance accordingly.
02 Mr. Rafikul Islam Mia Arzoo Vice-Chairman
03 Mr. Mohammed Adnan Imam, FCCA Director Hence, composition in the Board of Directors stand 13 (thirteen)
04 Mr. Abu Mohammad Saidur Rahman Director including 3 (three) Independent Directors and the Managing Director &
CEO.
05 Mr. Mohammed Oliur Rahman Director
06 Mr. Abu Bakr Chowdhury Director The Managing Director & CEO Mr. Md. Mukhter Hossain retired from
07 Mr. Loquit Ullah Director the Board on 29 April, 2021 due to retirement from service of the Bank.
08 Mr. Mohammed Nazim Director Mr. Golam Awlia was appointed as Managing Director & CEO from the
09 Mr. AKM Mostafizur Rahman Director Board on May 02, 2021 and work as Executive Director in the Board.
10 Air Chief Marshal Abu Esrar, Independent Director
BBP, ndc (Retd.)
Company’s policy on appointment of Directors disclosed
11 Dr. Khan Mohammad Abdul Mannan Independent Director NRBC Bank complied with pertinent guidelines of Bangladesh Bank
circulars, rules and regulations of the Companies Act 1994 (amended up
12 Dr. Raad Mozib Lalon Independent Director
to 2020), Bank Companies Act 1991 (amended up to 2018), Bangladesh
13 Mr. Golam Awlia MD & CEO Securities and Exchange Commission (BSEC) Notifications, Guidelines of
Bangladesh Bank and Memorandum & Articles of Association of the
Bank.
Composition of Board
The Board of NRBC Bank is always committed to ensuring diversity and
inclusiveness in its composition and deliberations, embracing the
proposition that having a diverse Board would have a positive, value
relevant impact on the Bank. In this regard, the Board considers
diversity from a number of different aspects, including gender, age,
cultural and educational Background. In case of nomination, removal,
causal vacancy and alternate Directors, NRBC Bank follows all relevant
rules and regulations. The Bank’s non-executive Directors are
independent of management and free from day to day business of the
bank. Directors are accountable to the shareholders for the Bank’s
performance and governance.

Directors’ Shareholding Status

All sponsors/promoters and directors of the bank shall perpetually hold
minimum 30% (thirty percent) shares of the bank. Each director other
than the independent director(s) of the Bank shall hold minimum 2%
Non Executive Director
(two percent) shares of the paid-up capital of the Bank. In compliance
Independent Non Executive Director
with BSEC Notification No. SEC/CMRRCD/2009-193/15/Admin/112
Managing Director & CEO
dated December 10, 2020; all directors other than independent
directors of NRBC Bank have complied accordingly.

SL Name of the Directors Status As of 31 December 2021

No. of Sharesheld Taka Holding %
1 Mr. SM Tamal Parvez Chairman 34,715,692 347,156,920 4.71%
2 Mr. Rafikul Islam Mia Arzoo Vice-Chairman 31,986,799 319,867,990 4.34%
3 Mr. Mohammed Adnan Imam, FCCA Director 17,255,843 172,558,430 2.34%
4 Mr. Abu Mohammad Saidur Rahman Director 19,287,960 192,879,600 2.61%
5 Mr. Mohammed Oliur Rahman Director 25,872,208 258,722,080 3.51%
6 Mr. Abu Bakr Chowdhury Director 28,248,937 282,489,370 3.83%
7 Mr. Loquit Ullah Director 27,999,874 279,998,740 3.80%
8 Mr. Mohammed Nazim Director 28,062,228 280,622,280 3.80%
9 Mr. AKM Mostafizur Rahman Director 20,787,159 207,871,590 2.82%
10 Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Independent Director Nil - -
11 Dr. Khan Mohammad Abdul Mannan Independent Director Nil - -
12 Dr. Raad Mozib Lalon Independent Director Nil - -
The Board of directors represent/hold 31.75% share of the company.

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02
Directors’ Remuneration Role of Independent Directors
Directors are not entitled to any remuneration other than attending the Under present rules and regulations, independent directors are not
meeting of the Board and its committees. As per Bangladesh Bank required to have any significant relationship with the bank, its top
guidelines, Director of NRBC Bank Limited is entitled to receive Tk. 8,000 management, or the board apart from receiving directors’
for attending each meeting of Board and its committee. remuneration for attending board and committee meetings. The bank
meets the criterion by appointing independent directors who are not
Adequate representation of Non-Executive Directors shareholders in the bank and have no family or other ties to the board of
As per guideline of Bangladesh Bank, NRBC Bank maintain adequate directors, executives, or management. Apart from performing the roles
representation of non-executive directors in the Board. The Managing of directors, independent directors also perform other roles as follows:
Director is the only Executive Director in the Board of Directors of the • Oversee issues where there is a potential conflict of interest.
Bank. All other Directors are non-executive directors. • Consider, review, evaluate, and provide oversight over related-party
transactions to ensure transactions are fair and in the best interests
Independent Directors of NRBC Bank.
NRBC Bank complies with the Corporate Governance Code of • Validate that the organization maintains an effective and
Bangladesh Securities and Exchange Commission (BSEC) and the Bank independent compliance function.
Companies Act, 1991 including the BRPD Circular No. 11, dated 27
• Bring valuable independent judgment to the Board.
October, 2013, for appointment of Independent Directors. Out of 12
(twelve), there are 3 (three) Independent Directors in the Board of
NRBC Bank.
Duality of Chairperson of the Board of Directors and
Managing Director & CEO
As per the Notification No-11 and dated 27 October, 2013, the In compliance with Bangladesh Bank BRPD Circular No. 11 and Circular
Independent Directors declare their independency in a form of Fit and Letter No. 18 dated October 27, 2013, and Clause 1(4) of BSEC
Test. Pursuant to the Notification of Bangladesh Securities and Notification No. BSEC/ CMRRCD/2006-158/207/Admin/80 on
Exchange Commission, an Independent Director meets the requisite Corporate Governance Code dated June 3, 2018, the functional
qualification to be an Independent Director. responsibilities of the Chairman of the Board and the Managing
Director are kept separate and independent of each other. The Board
Qualification of Independent Director has appointed Mr. S.M Parvez Tamal as the Chairman and Mr. Golam
Awlia as the Managing Director and CEO of the Bank.
Air Chief Marshal Abu Esrar, BBP, ndc (Retd.), Independent Director
Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) completed his The position of the Chairman of the Board and the Managing Director
Distinguished Graduate from Air Command and Staff College, USA. He are filled by different Individuals. This has been in practice since
was the Chief of Air Staff (assumed the highest position of Bangladesh inception of the Bank. Presently Mr. S.M Parvez Tamal is the Chairman
Air Force) from 2015 to 2018. He was also the assistant Chief of Air Staff and Mr. Golam Awlia is Managing Director of the Bank. The Board has
(Operation and Training) of Bangladesh Air Force from 2009 to 2015. clearly defined respective roles and responsibilities of the Chairperson
During this time the total budgeting of BAF was formulated under his and the Managing Director.
supervision. He was a Defense Attaché at the Embassy of Bangladesh in
Russia, Director of Special Security Force, Air Officer Commanding of In the absence of the Chairperson of the Board, the remaining members
BAF Base Pahar kanchanpur, Tangail, Bashar, Kurmitola, Zahurul Haque, of the Board elect one of themselves from non-executive directors as
Deputy Commandant of Bangladesh Air Force Academy, Director of Air Chairperson for that particular Board’s meeting; the reason of absence
Operations of Air Headquarters, Command of several Flying Wings and of the regular Chairperson is being duly recorded in the minutes
Flying Squadron in Bangladesh Air Force. according to the Section 4 of the BSEC’s notification on Corporate
Governance Code.
Dr. Khan Mohammad Abdul Mannan, Independent Director
Dr. Khan Mohammad Abdul Mannan, PhD was Inspector General of However, Mr. S.M Parvez Tamal presided all of 21 meetings held in 2021.
Registration of Bangladesh (Senior District & Sessions Judge),
Registration Directorate. Before that he was a District & Sessions Judge Responsibilities of the Chairman of the Board
at Jhenidah, Bangladesh. He completed his PhD from American World As per BRPD Circular No. 11 dated October 27, 2013, issued by
University, California, USA. He also completed his DLC (Development Bangladesh Bank and the Corporate Governance Code issued by BSEC
Lawyers Course) from International Development Law Institute, Rome, on June 3, 2018, the Chairman of the Board of Directors broadly
Italy in the year 1992. During his glorious career, he was involved in a possesses the following major responsibilities:
number of extra curriculum activates, such as being the Vice President
• Ensure that the board sets and implements the bank’s direction and
of Bangladesh Judicial Service Association, Present of Bangladesh Law
strategy effectively;
Association, Founder Secretary General of Padma Degree Collage,
Dohar and so on. He actively participated in the liberation war of • Organize the business of the board, ensure its effectiveness and
Bangladesh in 1971. establish its agenda;
• Ensure effective operations of the Board and its committees in
Dr. Raad Mozib Lalon, Independent Director conformance with the highest standards of corporate governance;
Dr. Raad Mozib Lalon is a renowned Faculty Member of Department of
• Ensure that all key issues are discussed in a timely and constructive
Banking and Insurance, University of Dhaka. Prior to that he was a
manner by the Board of Directors;
faculty member in different private universities of Bangladesh. He
completed his PhD from University of Dhaka on Banking in the year • Ensure the non-intervention of any director in the routine affairs of
2018. He is a specialist of Multinational Financial Management, Risk the bank;
Management in Commercial Banking/ Financial Institution, Investment • Sign the minutes of the board meeting for formal confirmation.
Analysis & Modern Portfolio Management and so on. During his
glorious career, he conducted many research works and achieved many The Directors’ Report to Shareholders
awards for his merit, such as Dean’s Merit Award, Certificate of Merit
from University of Dhaka. He wrote a number of International Journals The Directors’ Report to Shareholders of NRBC Bank Limited is
on Finance and Banking, Economics and Business Management Studies. presented on page no.71 of this Annual Report.

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 Meetings of the Board of Directors
The following is a statement of board meetings held in 2021, as well as the attendance of directors from January 1, 2021 to December 31, 2021:
Total Board Total Meeting
Meeting held No. of No. of
SL Name of the Members Status in the Board held during meeting meeting Remarks
during the their period attended
year absent

01 Mr. S M Parvez Tamal Chairman 21 21 21 0

02 Mr. Rafikul Islam Mia Arzoo Vice Chairman 21 21 21 0
03 Mr. Mohammed Adnan Imam, FCCA Director 21 21 21 0
04 Mr. A M Saidur Rahman Director 21 21 19 02
05 Mr. Mohammed Oliur Rahman Director 21 21 15 06
06 Mr. Abu Bakr Chowdhury Director 21 21 17 04
07 Mr. Loquit Ullah Director 21 21 20 01
08 Mr. Mohammed Nazim Director 21 21 20 01 Including
presence of
Alternate
Director
09 Mr. AKM Mostafizur Rahman Director 21 21 21 0
10 Air Chief Marshal Abu Esrar (Retd.) Independent Director 21 21 21 0
11 Dr. Khan Mohammad Abdul Mannan Independent Director 21 21 20 01
12 Mr. Raad Mozib Lalon, PhD Independent Director 21 21 20 01
13 Mr. Golam Awlia Managing Director & CEO 21 13 13 0

Code of Conduct for the Chairman, Board Members and 4. The members will be obligated to be independent in judgment and
Managing Director & CEO actions and take all reasonable steps to be satisfied as to the
soundness of decision taken by the board of directors.
Code of Conduct for the Chairman 6. Members shall make every effort to attend all Board and Committee
a. As the Chairman of the Board of Directors or Chairman of any Meetings during their tenure. They will not absent themselves
committee formed by the Board neither personally possess the without good reasons or confirming leave of absence.
jurisdiction to apply policy-making nor executive authority, he/ 8. Board members having interest of any nature in the agenda of the
she shall not participate in or interfere into the administrative meeting, shall declare beforehand the nature of their interest and
or operational and routine affairs of the bank. withdraw from the room, unless they have a dispensation to speak.
b. The Chairman may conduct onsite inspections of any bank 9. Training opportunities/orientation/workshops will be arranged for
branch or financing activities under the purview of the the members (especially for the newly inducted members) to make
oversight responsibilities of the Board. He may call for any them acquainted with the international best practices, their
information relating to the bank’s operations or ask for fiduciary obligations, Code of Conduct etc.
investigation into any such affairs; he may submit such
10. Every Director will assure annually signing a confirmation that they
information or investigation report to the meeting of the Board
have gone through, have complied with and will continue to comply
or the executive committee and, if deemed necessary, with the
with the set of codes approved by the Board of Directors.
approval of the Board, he shall take the necessary action
thereon, in accordance with the set rules through the CEO.
Code of Conduct for the Managing Director & CEO
However, any complaint against the CEO shall have to be
apprised to Bangladesh Bank through the Board along with the 1) The Managing Director & CEO shall remain accountable for the
statement of the CEO. achievement of financial and other business targets approved by
the Board of Directors in respect of business plans, efficient
c. The Chairman may be offered an office room, a personal implementation thereof and prudent administrative and financial
secretary/assistant, one peon/MLSS, one telephone at the management.
office, one mobile phone to use inside the country and a vehicle
in the business interests of the bank, subject to the approval of 2) The Managing Director & CEO shall recruit and promote all of the
the Board. bank’s staff, except those in the two tiers below him - which shall
rest upon the Board of Directors.
Code of Conduct for the Board of Directors 3) The Managing Director & CEO shall act in such cases in accordance
with the approved service rules on the basis of the human resource
The Board of Directors follows a Code of Conduct which was adopted to
policy and sanctioned strength of employees, as approved by the
provide guidance to directors to carry out their duties in an honest,
Board.
responsible and businesslike manner and within the scope of their
authority, as set forth in the laws of the country as well as in the The authority relating to the recruitment, promotion, transfer and
Memorandum and Articles of Association of the Company. disciplinary action against staff, except two tiers below the Managing
Director & CEO, rest upon on him and are in compliance with the bank’s
The Code of Conduct states: policy.

1. The Members shall act honestly, in good faith and in the best Succession Plan
interests of the shareholders and the company. NRBC Bank believes that the membership and composition of the Board
2. The members shall not make improper use of information acquired should be reassessed from time to time so succession planning is a
as a director. pivotal part of corporate governance practices to meet the company’s
long-term goals and objectives and to ensure that the knowledge,
3. The members shall not take improper advantage of the position as a experience, and skill set of its members would be well suited to meet
director. the demands of the ever changing financial industry.

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Policy on training of Directors are briefed on issues at Board and Committee meetings, for example,
In line with clause no.6 of BRPD Circular 11 dated October 27, 2013, the receiving briefings on cyber risks, and relevant commercial, legal and
Directors of NRBC Bank Limited make themselves fully aware of the regulatory developments. All Directors have full and timely access to
banking laws and other related rules and regulations for performing relevant information ahead of each meeting and are able to contact
their duties properly. To facilitate this further, the bank makes available members of management for further information, as required. In
all relative laws before the Board of Directors for their instant accordance with best practice, the Chairman considers and addresses
information, along with any single notification in due course. the development needs of the Board as a whole, if any, and ensures that
each Director updates their individual skills, knowledge and expertise.
Directors’ Training
Training in specific aspects of the bank’s businesses is provided to If required, external training courses may be provided at the company’s
Directors when requested and regularly as part of site visits. Directors expense.

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Knowledge and expertise in Finance and Accounting Key Activities performed by Board in 2021
NRBC Bank’s Board of Directors comprises of members who have wide The Board meets on a monthly basis and meetings are scheduled well in
knowledge and experience in the field of finance, accounting, advance (before the commencement of each financial year) to enable
economics, management, marketing and business administration. By members to plan ahead. When required, the Board will meet on an ad
that, it is ensured that they have the ability to interpret the decisions of hoc basis to deliberate urgent matters.
bank’s management in a prudent manner.
Board of Directors
Knowledge and expertise in Finance and Accounting
l Approval of decisions on the basis of the information
and analysis of the Committees and monitoring and
oversight of decisions

Board Committees
l Analysis of proposals prior to submission to the Board,
issuance of report and oversight of implementation of
decisions
3
Senior Management
l Proposals with exhaustive, comprehensive, suitable and
consistent information

Series 1 Series 2 Series 3 Series 4 Series 5

During the Financial Year 2021, the Board conducted twenty one (21) particularly in pandemic period of COVID -19. Among the topics and
meetings to deliberate and consider a variety of significant matters that strategies that were reviewed, deliberated and approved by the Board
required its guidance and approval. The Board also had separate during the Financial Year 2021 2021 were as follows:
sessions with the management to discuss the Bank’s strategies

Strategy Risk, Compliance and oversight Governance

l Business Strategy of the l Risk appetite of the Bank for l Evaluation and Fit and Proper
bank the year 2021 Assessment
l Budget and Business plan for l Audit Plan for 2021 l C o r p o ra t e G o v e r n a n c e
the year 2021 l Capital adequacy statement Disclosures
l Capital and Dividend in 2021 l Directors fees and disclosure
strategy l Anti money laundering issues the remunaration of top
l Sustainablity and Corporate management
l Ethical issues
Governance Strategy l Appointment of external
l Risk related with COVID 19 Directors
l Human Resource policy
l Governance on subsidiaries

Governance of Board of Directors of Subsidiary Company Managing Director & CEO, Chief Financial Officer (CFO),
As per BSEC Corporate Governance Code Sec-2, dated 3 June 2018, Head of Internal Audit and Compliance (HIAC) and
NRBC Bank entirely follows the governance of Board of Directors of Company Secretary (CS)
Subsidiary Company:
• The Board appoints The Managing Director & CEO, The Company
• At least one independent director of NRBC Bank is a director on the Secretary, the Chief Financial Officer and the Head of Internal Audit
Board of the subsidiary company. and Compliance;
• The minutes of the Board Meeting of the subsidiary company are • The positions of the Managing Director & CEO, Company Secretary,
being placed for review at the following Board meeting of NRBC Chief Financial Officer and Head of Internal Audit and Compliance
Bank Limited. are filled by different individual;
• The Board of Directors reviews the affairs of the subsidiary • The Managing Director, The Company Secretary, the Chief Financial
company. Officer and Head of Internal Audit and Compliance are not holding
any executive position in other company;
• The Audit committee of NRBC Bank Limited review the Financial
Statements, in particular the investments made by the subsidiary • The Board have clearly defined respective roles, responsibilities and
company. duties of the CFO, the HIAC and the CS;
• The Managing Director & CEO, the Company Secretary, the Chief
Air Chief Marshal Abu Esrar (Retd.) is appointed as Independent Financial Officer and Head of Internal Audit and Compliance are not
Director of the Bank in the Board of Directors of NRBC Bank Securities being removed from their position without approval of the Board as
Limited at 104th Meeting held on October 11, 2020 and other activities well as immediate dissemination to the Commission and Stock
were done accordingly. Exchanges.

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Requirement to attend Board of Directors’ Meeting will not be an executive of the Company in the immediate preceding
As per BSEC Corporate Governance Guidelines, The Managing Director two financial years, who does not have any material relationship and
& CEO and Company Secretary were attending every meetings of Board does not hold any shares of the company. The Independent Director will
of Directors. But the Chief Financial Officer and Head of Internal Audit & not have any significant relationship, whether pecuniary or otherwise,
Compliance were attend the meeting wherein matter relating affairs of with the bank, its top management and the Board. The bank complies
the respective division. with the requirement and appoints Independent Directors who does
not have any family or other relationship with its Board of Directors and
They shall not attend such part of a meeting of the Board which involves its executive management. However, approval of Bangladesh Securities
consideration of an agenda item relating to their personal matters. and Exchange Commission and approval of Bangladesh Bank are
required for the appointment on Independent Director.
Duties of Managing Director & CEO and Chief Financial NRBC Bank ensures compliance with Bangladesh Bank’s guidelines and
Officer Bangladesh Securities and Exchange Commission’s requirements
The CEO and CFO have certified to the Board that they have reviewed
relating to the appointment of Independent Directors.
the financial statements and affirm that these statements do not
contain any materially untrue statement or omit any material fact or
contain statements that might be misleading;
Independence of non-Executive Directors
As part of our good governance practices at NRBC Bank, the non-
The CEO and CFO have certified to the Board that they have reviewed Executive Directors enjoy full freedom in discharging their
the financial statements and affirm that these statements together responsibilities. They are also sincere to attend Board meetings,
present a true and fair view of the bank’s affairs and are in compliance Executive Committee Meetings, Audit Committee meetings and Risk
with existing accounting standards and applicable laws; Management Committee meetings. They also actively participate in
discussions on the agenda.
The CEO and CFO have further certified to the Board that there are, to
the best of their knowledge and belief, no transactions entered into by The key roles and responsibilities of the Chairman
the bank during the year which are fraudulent, illegal or in violation of The Chairman’s main duties include chairing meetings of the Board of
the bank’s code of conduct. Directors are appended below;

The Certification of the Managing Director & CEO and CFO is disclosed in
l Provides leadership and governance of the Board so as to create the
the Annual Report at Page 170.
conditions for overall Board’s and individual Director’s effectiveness,
and ensures that all key and appropriate issues are discussed by the
Appointment of Directors (Chairman, Board of Directors Board in a timely manner
and Managing Director & CEO)
l Promotes effective relationships and open communication, and
NRBC Bank complies with the regulations stipulated by Bangladesh
creates an environment that allows constructive debates and
Bank, Bangladesh Securities and Exchange Commission (BSEC) and the
challenges, both inside and outside the boardroom, between
Companies Act, 1994, for the appointment of Directors. As per
Nonexecutive Directors and the management
regulations, all Directors, except nominated, independent or alternate
Directors, are required to maintain at least 2% shareholding in the bank, l Ensures that the Board as a whole plays a full and constructive part
individually. in the development and determination of the company strategies
and policies, and that Board decisions taken are in the bank best
Pursuant to the Companies Act, 1994, 1/3rd of the Directors will retire interests and fairly reflect Board’s consensus
and, if eligible, are placed for reappointment, which refers to the Annual l Ensures that the strategies and policies agreed by the Board are
General Meeting for approval of shareholders. As per the Bank effectively implemented by the Chief Executive and the
Company Act, 1991 (as amended in 2018), Directors are appointed with management
prior approval of Bangladesh Bank, considering a term of three years, l Sets, in consultation with the Chief Executive and Company
which can be extended by three terms, subject to approval of Secretary, the Board meeting schedule and agenda to take full
Bangladesh Bank as well as by shareholders in ensuing Annual General account of the important issues facing the bank and its subsidiaries
Meeting. As per the Corporate Governance guidelines issued by BSEC of all Directors, and ensures that adequate time is available for
dated on June 03, 2018, the Independent director shall not be subject to thorough discussion of critical and strategic issues
the retirement by rotation of Director.
l Ensures that the Board is properly briefed on issues arising at Board
An Independent Director, pursuant to the Bangladesh Bank guidelines, meetings and receives, in a timely manner, adequate information
is appointed with the prior approval of Bangladesh Securities and which must be accurate, clear, complete and reliable, to fulfill its
Exchange Commission (BSEC) and approval of Bangladesh Bank. duties, such as reports on the bank and its subsidiaries performance,
Subsequently, it is placed in the following Annual General Meeting for the issues, challenges and opportunities facing the bank and its
the approval of shareholders. subsidiaries, and matters reserved for it to make decision
l Arranges informal meetings of the Directors at least annually,
The Managing Director & CEO is also appointed with the prior approval including meetings of the Nonexecutive Directors at which the Chief
of Bangladesh Bank, duly meeting the fit and test criteria. Executive is not present, and ensures that sufficient time and
consideration is given to complex, contentious or sensitive issues
Non-Executive Directors l Ensures that there is effective communication with shareholders,
The Managing Director and CEO, Mr. Md. Mukhter Hossain, was the ex- and that each Director develops and maintains an understanding of
officio Director, But presently Mr. Golam Awlia act for the same with effect the stakeholders’ views
from May 02, 2021 and all other Directors are non- Executive Directors. l Establish good corporate governance practices and procedures and
promotes the highest standards of integrity, probity and corporate
Independent Directors’ independence governance throughout the bank and its subsidiaries particularly at
According to Bangladesh Securities and Exchange Commission (BSEC) Board level
and Bangladesh Bank’s rules and regulations, Independent Directors

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The key roles and responsibilities of the Board stakeholders. In line with this, NRBC Bank organizes training on
The main roles and responsibilities of the Board of Directors, as corporate governance round the year for the staff. NRBC Bank offers
envisaged in the BRPD Circular No. 11 dated 27 October, 2013, include special emphasis on training in corporate governance.
the following:
Objectives of corporate governance training:
1. Lay down a code of conduct for all Board members and senior
management; i. To establish good governance, ensuring the best practices of
corporate governance to understand how they improve
2. Review and set up annual performance targets of the bank for
consistency in business direction and strategies;
achieving targets;
ii. To mitigate risks and provide the maximum opportunities for
3. Monitoring the effectiveness of the bank’s governance
developing individual skills, tools and frameworks in line with
practices and reviewing changes as needed and identifying
opportunities where corporate governance standards could be action plans and to address challenges as well as overcome
further improved ; these with prudence;

4. Determining the bank’s corporate social responsibility status iii. To help Board members develop the right strategies for change
and taking steps for its improvement; management and create advanced plans for seamless change in
order to identify internal and external opportunities and
5. Ensure stronger internal controls;
challenges, manage change or implement new approaches;
6. Grant approval of policies and operational manuals to establish
iv. To drive a positive culture such as developing the Board’s skills
an effective risk management framework in core banking areas
and leadership style;
and internal control;
7. Appoint Managing Director & CEO and fixing his benefits; Board of Directors’ Committees
8. Purchase or acquisition of property for the bank; The Board has constituted the following 3 (three) Board Sub-
9. Provide welfare benefits to employees; Committees, which are (i) Audit Committee, (ii) Risk Management
Committee and (iii) Executive Committee in compliance with BRPD
10. Determining the Corporate Social Responsibly status and taking
Circular # 11, dated October 27, 2013
steps;
11. Analyze reasons for success or failure of the bank’s annual
budget achievement; i. Audit Committee
12. Periodic review of the bank’s operational budget achievements; SL Name Status with Status with
Board Committee
13. Undertake risk management initiatives;
1 Air Chief Marshal Abu Esrar (Retd.) Independent Chairman
14. Review of sufficiency and requirement for internal control Director
efforts of the bank; 2 Mr. Rafikul Islam Mia Arzoo Vice-Chairman Member
15. Reviewing the bank’s human resource (HR) policy; 3 Mr. Mohammed Nazim Director Member
4 Mr. AKM Mostafizur Rahman Director Member
Appraisal of the Board’s performance 5 Dr. Raad Mozib Lalon Independent Member
The Board of Directors is accountable to the shareholders of the bank. Director
Once in every year, the bank holds an Annual General Meeting (AGM).
The shareholders attend the Annual General Meeting (AGM) and they
critique and express their analysis about the performance of the bank as ii. Risk Management Committee
before like listed company. SL Name Status with Status with
Board Committee
NRBC Bank takes constructive suggestions from the Annual General 1 Mr. A M Saidur Rahman Director Chairman
Meeting and tries to implement it for qualitative improvement of the 2 Mr. Mohammed Nazim Director Member
bank. The performance of the bank is also measured on the basis of 3 Mr. Rafikul Islam Mia Arzoo Vice-Chairman Member
other indicators, including financial aspects like business performance, 4 Air Chief Marshal Abu Esrar (Retd.) Independent Member
asset growth and current NPL. Director
5 Dr. Khan Mohammad Abdul Mannan Independent Member
Evaluation of the Managing Director & CEO Director
The Board of Directors of NRBC Bank Limited evaluates the performance
of Managing Director & CEO in annual basis. The Board also set the roles
and responsibilities of the Managing Director & CEO of the bank. There are iii. Executive Committee
some key Performance Indicators (KPI) to appraise the performance which SL Name Status with Status with
are: meet the annual budgetary targets of the bank, which was approved Board Committee
by the Board, maximize shareholder value measured through desired 1 Mr. Mohammed Adnan Imam, FCCA Director Chairman
ROA, ROE, EPS, ensure proper risk management as per the expectations of 2 Mr. Mohammed Oliur Rahman Director Member
the Board, ensure sustainable growth in loans and advances, low-cost 3 Mr. Abu Bakr Chowdhury Director Member
deposits, CASA mix, diversify revenue streams of the bank, ensure
4 Mr. Loquit Ullah Director Member
improvement in NPL ratio, achieve recovery of overdue loan and improve
5 Mr. S.M Parvez Tamal Chairman Member
all reviews conducted by BB, including scores in CAMELS rating.

Training on corporate governance In compliance with the circular no SEC/CMRRCD/2006-

At NRBC Bank, our corporate governance standards represent the 158/207/Admin/80 dated 03 June 2018 of Bangladesh Securities &
foundations on which we have built transparent relationships among Exchange Commission, NRBC Bank formed another committee in
the institution’s management, Board, shareholders and other addition to aforesaid Audit Committee:

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iv. Shariah Supervisory Committee
Sl. Name Status in Committee
1 Mr. Shah Mohammad Wali Ullah Chairman
2 Mr. Obaid Ullah Hamzah Member
3 Mr. Mohammed Oliur Rahman Member
4 Mr. Mohammed Adnan Imam, FCCA Member
5 Mr. AKM Mostafizur Rahman Member
6 Mr. Loquit Ullah Member
7 Dr. Khan Mohammad Abdul Mannan Member
8 S M Parvez Tamal (Chairman, BoD) Member

Committee Meeting
Board meeting held in 2021
Statement of Board meetings held and the attendance of Directors from 01.01.2021 to 31.12.2021: 21 Meeting
Total Board Total Meeting
Meeting held No. of No. of
SL Name of the Members Status in the Board held during meeting meeting Remarks
during the their period attended
year absent

01 Mr. S M Parvez Tamal Chairman 21 21 21 0

02 Mr. Rafikul Islam Mia Arzoo Vice Chairman 21 21 21 0
03 Mr. Mohammed Adnan Imam, FCCA Director 21 21 21 0
04 Mr. A M Saidur Rahman Director 21 21 19 02
05 Mr. Mohammed Oliur Rahman Director 21 21 15 06
06 Mr. Abu Bakr Chowdhury Director 21 21 17 04
07 Mr. Loquit Ullah Director 21 21 20 01
08 Mr. Mohammed Nazim Director 21 21 20 01 Including
presence of
Alternate
Director
09 Mr. AKM Mostafizur Rahman Director 21 21 21 0
10 Air Chief Marshal Abu Esrar (Retd.) Independent Director 21 21 21 0
11 Dr. Khan Mohammad Abdul Mannan Independent Director 21 21 20 01
12 Dr. Raad Mozib Lalon Independent Director 21 21 20 01
13 Mr. Golam Awlia Managing Director & CEO 21 13 13 0
The Board has granted leave of absence against the absentee directors of the meeting.

Executive Committee (EC) meeting held in 2021

Statement of Executive Committee (EC) meetings held and the attendance of Directors from 01.01.2021 to 31.12.2021: 10 Meeting

Total Board Total Meeting

Meeting held No. of No. of
SL Name of the Members Position held during meeting meeting Remarks
during the their period attended
year absent

1 Mr. Mohammed Adnan Imam, FCCA Chairman 10 10 10 -

2 Mr. Mohammed Oliur Rahman Member 10 10 7 3
3 Mr. Abu Bakr Chowdhury Member 10 10 5 5
4 Mr. Loquit Ullah Member 10 10 9 1
5 Mr. S M Parvez Tamal Member 10 10 10 -

The EC has granted leave of absence against the absentee directors of the meeting.

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Audit Committee (AC) meeting held in 2021
Statement of Audit Committee meetings held and the attendance of Directors from 01.01.2021 to 31.12.2021: 5 Meeting

Total Board Total Meeting

Meeting held No. of No. of
SL Name of the Members Position held during meeting meeting Remarks
during the their period attended
year absent

1 Air Chief marshal Abu Esrar (Retd.) Chairman 5 5 5 -

2 Mr. Rafikul Islam Mia Arzoo Member 5 5 5 -
3 Mr. Mohammed Nazim Member 5 5 4 1
4 Mr. AKM Mostafizur Rahman Member 5 5 5 -
5 Dr. Raad Mozib Lalon Member 5 5 5 -
The Audit Committee has granted leave of absence against the absentee directors of the meeting.

Risk Management Committee meeting held in 2021

Statement of Risk Management Committee meetings held and the attendance of Directors from 01.01.2021 to 31.12.2021: 4 Meeting
Total Board Total Meeting
Meeting held No. of No. of
SL Name of the Members Position held during meeting meeting Remarks
during the their period attended
year absent

1. Mr. A M Saidur Rahman Chairman 4 4 4 -

2. Mr. Mohammed Nazim Member 4 4 2 2
3. Mr. Rafiqul Islam Mia Arzoo Member 4 4 2 2
4. Air Chief Marshal Abu Esrar (retd.) Member 4 4 4 -
5. Dr. Khan Mohammad Abdul Mannan Member 4 4 4 -
The Risk Management Committee has granted leave of absence against the absentee directors of the meeting.

Shariah Supervisory Committee meeting held in 2021

Statement of Shariah Supervisory Committee meetings held and the attendance of Directors from 01.01.2021 to 31.12.2021: 2 Meeting
Total Board Total Meeting
Meeting held No. of No. of
SL Name of the Members Position held during meeting meeting Remarks
during the their period attended
year absent

1 Mr. Shah Mohammad Wali Ullah Chairman 2 2 2 -

2 Mr. Obaid Ullah Hamzah Member 2 2 - -
3 Mr. Mohammed Oliur Rahman Member 2 2 1 1
4 Mr. Mohammed Adnan Imam, FCCA Member 2 2 - -
5 Mr. AKM Mostafizur Rahman Member 2 2 1 1
6 Mr. Loquit Ullah Member 2 2 2 -
7 Dr. Khan Mohammad Abdul Mannan Member 2 2 1 1
8 S M Parvez Tamal (Chairman, BoD) Member 2 2 2 -
The Shariah Supervisory Committee has granted leave of absence against the absentee directors of the meeting.

Maintaining a website by the Company As per Bangladesh Securities & Exchange Commission Notification on
NRBC Bank has an official website www.nrbcommercialbank.com with Corporate Governance Code for appointment of Professional for the
the linked website of the stock exchange. certification on Corporate Governance for the year 2022 will be
confirmed at the 9th AGM that will be held on June 02, 2022.
Reporting and Compliance of Corporate Governance
Business objectives and strategic management
The status of compliance with Corporate Governance guidelines of
Bangladesh Securities and Exchange Commission has been given The Board of Directors of NRBC Bank determines the business objectives
hereafter "Hussain Farhad & Co.", Chartered Accountants, duly and goals and, to this end, chalk out strategies and work plans on an
certified the bank’s Compliance Status, which is presented on page 127. annual basis. The Board specifically engages in formulating strategies
. consistent with the predetermined objectives and goals and in issues
relating to structural changes and reformation for the enhancement of
Appointment of professional for the Certification on institutional efficiency and other relevant policy matters.
Corporate Governance
The existing professional Accountant M/S Hussain Farhad & Co., Philosophy on code of corporate governance
Chartered Accountants, has expressed of willingness to work as Auditor
NRBC Bank believes in adopting and adhering to the best standards of
on compliance status on Corporate Governance Code. But considering
corporate governance for the benefit of all its stakeholders. The bank’s
other proposal and remuneration, the Board of Directors has
recommended M/S Ahmed Shafic & Co., Chartered Accountants, as corporate governance standards are based on the following principles:
compliance Auditor for the year 2021 in the 140th meeting held on May Appropriate composition, size of the Board and commitment to
15, 2022. adequately discharge its responsibilities and duties Transparency and

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independence in the functioning of the Board Independent verification Sustainable financing
and integrity assurance of financial reporting Adequate risk NRBC Bank has incorporated the ethos of socially -responsible banking
management and internal control Protection of shareholders’ rights through which it has been mainstreaming sustainable development and
and placing priority on investor relations Timely and accurate disclosure
aligning it with the core business strategies of the bank. In fact,
on all matters concerning operations and performance of the bank. The
sustainability is integrated into the way we do business, into the
bank’s philosophy on corporate governance enshrines the goal of
contribution we make to local economies and into serving the
achieving the highest levels of transparency, accountability and equity
communities we live in. The Board monitors all social and ecological
in all spheres of its operations and in all its dealing with shareholders,
factors with the aim of protecting the environment and conserving
employees, regulators and other relevant stakeholders. By doing so, the
bank demonstrates its understanding and respects its fiduciary roles natural resources.
and responsibilities to shareholders.
Credit rating
Ethics and compliance As per Bangladesh Bank guidelines and notifications of Bangladesh
NRBC Bank has a Code of Conduct for the Board of Directors and ethical Securities and Exchange Commission, NRBC Bank conducts its credit
guidelines for the bank’s employees which are an integral part of the rating each year with due disclosure. Credit rating of NRBC Bank is
Service Rules and Regulations for the employees of the bank. Our available on page 110 in this Annual Report.
employees comply with the code of conduct and requirements of
ethical principles. The Board has always been deeply committed to Roles and responsibilities of the Company Secretary
establishing the highest levels of ethics and compliance among all The roles, responsibilities and duties of the Company Secretary of
employees of the bank. It has always encouraged the management to NRBC Bank are prepared in pursuant to Circular
ensure that everyone maintains high ethical standards within the bank.
No.SEC/CMRRCD/2006-158/207/Admin/80 dated 03 June 2018 of
The Board guides the management on policies that should be adopted
Bangladesh Securities & Exchange Commission. The Company
and followed by everyone in the bank.
Secretary ensures that all regulatory procedures for the appointment
Facilities accorded to the Chairman, Directors and the of Directors have been followed. He provides detailed support and
Managing Director & CEO guidance to the Directors, both individually as well as collectively, for
taking decisions and raises matters wherever needed to call for the
In accordance with the guidelines of Bangladesh Bank, the following
attention of the Board of Directors. He also assists the Board of
facilities can only be given to the Directors:
Directors and the management of the bank in ensuring excellence in
Chairman The Chairman has an office with personal governance. He communicates with shareholders, as appropriate, and
secretary and office assistant provided by Bank ensures that due regard is given to their interests. He also assists to
along with a mobile phone and a car at his full- form the sub-committee of the Board of Directors, as directed by the
time disposal. Regulatory Bodies Act, as a mediator to the Board of Directors to
Directors Fees and other facilities for attending each resolve disputes rose to the Board, according to the laws, rules and
meeting of the Board or any Committee as regulations. The Company Secretary is also mandated with providing
per guidelines of Bangladesh Bank and comprehensive corporate secretarial services to the Board, Directors
Bangladesh Securities and Exchange and committees and also ensures that all compliance are complied
Commission. following the respective laws, rules and regulations. He also ensures
Managing Only those benefits as agreed upon in his that the decisions taken by the Board of Directors are transmitted to
Director contractual appointment and approved by the concerned department/s for taking the next course of action. He
Bangladesh Bank also updates the Board of Directors or the management about the
direction, circulars, notifications, etc., which is made by the regulatory
bodies and follows up on the respective steps taken.
Key policies regarding to remuneration of Directors and
employees Sponsors and Directors Jointly Shareholding as per BSEC
The Board of Directors reviews the pay scale from time-to-time, the guideline
remuneration of employees based on the bank’s performance and the In accordance with the directive of Bangladesh Securities and Exchange
general inflation in the economy. All employees including the senior Commission (BSEC) no. SEC/ CMRRCD/2009-193/15/Admin/112 dated
management are paid a competitive remuneration package. December 10, 2020, all sponsors and directors other than independent
directors of a company listed with any stock exchange shall all time
Human Resources jointly hold minimum 30% (thirty percent) shares of the paid-up capital
The report on human capital is presented in detail on page 92 and 93 of of the company. We confirm that, all sponsors and directors other than
this Annual Report. independent directors of NRBC Bank shall all time jointly hold more
than 30% (present holding 73.32%) shares of the paid-up capital of the
Communication to shareholders/stakeholders for company to meet up the BSEC requirement.
participation in Annual General Meeting
NRBC Bank serves the notice along with the Annual Report to
shareholders at least 21 days before of Annual General Meeting. As per
Bangladesh Bank guidelines and notifications of Bangladesh Securities
and Exchange Commission quarterly accounts or information are
notified to the shareholders and updated on the website. The bank’s
also provides services to shareholders round the year. The bank also
ensures that all stakeholders are informed of the bank’s activities on a
routine basis.

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02
Shareholding Structure
At the end of the year 2021, the shareholding structure of NRB Commercial Bank Limited was as follows:

Shareholding Structure
No. of Shareholding as of
Category Shareholders as 31.12.2021
on 31.12.2021 In Number In Percentage
Sponsors/Promoters 55 540,800,594 73.32% Sponsors/Promoters
Shareholders/Public
Shareholders/Public 18587 176,901,317 23.98% Institutions
Institutions 314 19,940,936 2.70% 2

Total 18956 737,642,847 100.00%

Classification of shareholders by holding as on 31.12.2021

Share Holding No. of Shareholders as on 31.12.2021 No. of Shares as on 31.12.2021 Ownership (%)
0000000001-0000010000 17,127 24,268,565 3.290%
0000010001-0000020000 766 11,364,951 1.541%
0000020001-0000030000 309 7,722,663 1.047%
0000030001-0000040000 188 6,599,350 0.895%
0000040001-0000050000 117 5,420,939 0.735%
0000050001-0000060000 73 4,029,759 0.546%
0000060001-0000070000 52 3,387,050 0.459%
0000070001-0000080000 39 2,951,679 0.400%
0000080001-0000090000 17 1,432,333 0.194%
0000090001-1000000000 268 670,465,558 90.893%
Total : 18,956 737,642,847 100.00%

Latest Shareholding Position as on December 31, 2021

SL. No. Names of Directors & Sponsors Status Status Shareholding %
1 Mr. S.M. Parvez Tamal Sponsor Director & Chairman 34,715,692 4.706
2 Mr. Rafikul Islam Mia Arzoo Sponsor Director & Vice Chairman 31,986,799 4.336
3 Mr. Mohammed Adnan Imam, FCCA Sponsor Director 17,255,843 2.339
4 Mr. Mohammed Oliur Rahman Sponsor Director 25,872,208 3.507
5 Mr. Abu Bakr Chowdhury Sponsor Director 28,248,937 3.830
6 Mr. Loquit Ullah Sponsor Director 27,999,874 3.796
7 Mr. Mohammed Nazim Sponsor Director 28,062,228 3.804
8 Mr. Abu Mohammad Saidur Rahman Director 19,287,960 2.615
9 Mr. A K M Mostafizur Rahman Director 20,787,159 2.818
10 Air Chief Marshal Abu Esrar (Retd) Independent Director - -
11 Dr. Khan Mohammad Abdul Mannan Independent Director - -
12 Dr. Raad Mozib Lalon Independent Director - -
13 Engr. Farasath Ali Sponsor 11,421,827 1.548
14 Dr. Toufique Rahman Chowdhury Sponsor 13,756,967 1.865
15 Mr. Tanwir M.O. Rahman Chowdhury Sponsor 8,788,356 1.191
16 Mr. ABM Abdul Mannan Sponsor 41,839,891 5.672
17 Mr. Mohammed Enayet Hossain Sponsor 34,509,353 4.678
18 Mr. Md. Amir Hossain Sponsor 27,552,592 3.735
19 Mr. Abu Mohammad Tushar Iqbal Rahman Sponsor 1,824,462 0.247
20 Mr. Firoz Haider Khan Sponsor 187,237 0.025

125
02
SL. No. Names of Directors & Sponsors Status Status Shareholding %
21 Mrs. Kamrun Nahar Sakhi Sponsor 18,303,370 2.481
22 Mr. Mohammad Shahid Islam Sponsor 26,325,127 3.569
23 Engr. Syed Munsif Ali Sponsor 12,778,143 1.732
24 Mrs. Shamimatun Nasim Sponsor 1,326,445 0.180
25 Dr. Nizam Mohammad Meah Sponsor 13,756,967 1.865
26 Dr. Nuran Nabi Sponsor 2,751,392 0.373
27 Mrs. Kaniz Farzana Rashed Sponsor 891 0.000
28 Dr. Rafiqul Islam Khan Sponsor 5,423,224 0.735
29 Dr. Shahanara Begum Ali Sponsor 14,444,953 1.958
30 Mr. Sarwar Zaman Chaudri Sponsor 9,277,284 1.258
31 Mr. Mohammad Zakaria Khan Sponsor 14,859,381 2.014
32 Mr. Shabbir Ahmed Mubin Sponsor 6,213,388 0.842
33 Mr. Izaharul Islam Halder Sponsor 6,878,482 0.932
34 Mr. Mostafisur Prince Rahman Sponsor 5,654,661 0.767
35 Mr. Aziz U Ahmad Sponsor 4,473,625 0.606
36 Mr. Mohammed Manzurul Islam Sponsor 1,395,504 0.189
37 Mr. Mahammed Jamal Uddin Sponsor 1,375,695 0.186
38 Mr. Faruk Ali Sponsor 1,375,832 0.187
39 Mr. Zulfiker Alim Sponsor 1,375,832 0.187
40 Mrs. Ferdoushe Begum Sponsor 1,376,383 0.187
41 Mr. Mohammed Ashraf Ali Sponsor 349,287 0.047
42 Mr. Fahad Madani Islam Sponsor 1,375,832 0.187
43 Mr. Shamim Ali Sponsor 341,308 0.046
44 Mr. Shakawat Ali Sponsor 1,375,832 0.187
45 Mr. Mohammed Shofiqul Islam Sponsor 1,395,643 0.189
46 Mr. Nahid Ahmed Chowdhury Sponsor 1,397,981 0.190
47 Mr. Tohel Ahmed Sponsor 1,799,547 0.244
48 Mr. Azadul Haq Sponsor 1,396,744 0.189
49 Mr. Mohammad Iqbal Rashed Sponsor 1,420,816 0.193
50 Mr. Mohammed Jahangir Alam Sponsor 340,758 0.046
51 Mrs. Nazni Mansur Sponsor 1,399,494 0.190
52 Mr. Anwar Hossain Sponsor 1,446,680 0.196
53 Mr. Sunahwar Ali Sponsor 263,582 0.036
54 Mr. Mohammed Sabbir Ahmed Sponsor 122,847 0.017
55 Mr. Mohammad Kashem Sponsor 68,508 0.009
56 Mr. Mohammed Tanvir Ahmed Sponsor 68,508 0.009
57 Dr. Abul M. Ibrahim Sponsor 1,396,193 0.189
58 Mr. S.M. Gulam Robbani Chowdhury Sponsor 1,377,070 0.187
Total Shares (Directors & Sponsors) - 540,800,594 73.315
Remaining Shareholding - Breakup given below: 26.685
Govt. 0.00
Institution 2.704
Foreign 0.00
Public (including Shareholders other than Sponsors/Directors) 23.981
Total 100.00

126
02
127
02
STATUS OF COMPLIANCE ON BSEC NOTIFICATION ON CORPORATE GOVERNANCE

For the Period ended 31 December, 2021

Status of compliance with the condi�ons imposed by the Commission's No�fica�on No.BSEC/CMRRCD/2006-158/207/Admin/80, dated 03 June,
2018 issued under sec�on 2CC of the Securi�es and Exchange Ordinance, 1969:

(Report under Condi�on No. 9.00)

Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
1 Board of Directors.
1(1) Size of the Board of Directors
The total number of members of a company’s Board of Directors The Board of NRBC Bank
(hereina�er referred to as "Board") shall not to be less than 5 Limited is comprised of
√ -
(five) and more than 20 (twenty). 12 Directors as on
December 31, 2021
1(2) Independent Directors
1(2)(a) At least one fi�h (1/5) of the total number of directors in the The Board of NRBC Bank
company’s board shall be independent directors; any frac�on Limited is comprised of
shall be considered to the next integer or whole number for 12 Directors including 3
√ -
calcula�ng number of independent director(s); Independent Directors

1.2 (b) For the purpose of this clause “independent director” means a
√ -
director-

1(2)(b)(i) Who either does not hold any share in the company or holds less Does not hold any share
than one percent (1%) shares of the total paid-up shares of the of the Company
company;

1(2)(b)(ii) Who is not a sponsor of the company and is not connected with √ -
the company's any sponsor or director or nominated director or
shareholder of the company or any of its associates, sister
concerns, subsidiaries and parents or holding en��es who holds
one percent (1%) or more shares of the total paid-up shares of
the company on the basis of family rela�onship and his or her
family members also shall not hold above men�oned shares in
the company:
1(2)(b)(iii) Who has not been an execu�ve of the company in immediately √ -
preceding 2(two) financial years;

1(2)(b)(iv) Who does not have any other rela�onship, whether pecuniary or √ -
otherwise, with the company or its subsidiary or associated
companies;

1(2)(b)(v) Who is not a member or TREC ( Trading Right En�tlement √ -

Cer�ficate) holder, director, or officer of any stock exchange;

1(2)(b)(vi) Who is not a shareholder, director excep�ng independent direct

or officer of any member or TREC holder of stock exchange or an √ -
intermediary of the capital market;

1(2)(b)(vii) Who is not a partner or an execu�ve or was not a partner or an

execu�ve during the preceding 3 (three) years of the concerned √ -
company's statutory audit firm or audit firm engaged in internal
audit services or audit firm conduc�ng special audit or
professional cer�fying compliance of this Code;

1(2)(b)(viii) Who is not an independent director in more than 5 (five) listed √ -

companies;

1(2)(b)(ix) Who has not been convicted by a court of competent jurisdic�on √ -

as a defaulter in payment of any loan or any advance to a bank or
a Non-Bank Financial Ins�tu�on (NBFI);
Who has not been convicted for a criminal offence involving √ -
1(2)(b)(x)
moral turpitude.

128
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
The independent director(s) shall be appointed by the board of
1(2)(c) directors and approved by the shareholders in the Annual √ -
General Mee�ng (AGM).

1(2)(d) The post of independent director(s) cannot remain vacant for

more than 90(ninety) days. √ -

The tenure of office of an independent director shall be for a

1(2)(e) period of 3(three) years, which may be extended for 1(one) term √ -
only.
1(3) Qualifica�on of Independent Director (ID)
Independent director shall be a knowledgeable individual with The qualifica�on and
1(3)(a) integrity who is able to ensure compliance with financial, √ - background of
regulatory and corporate laws and can make meaningful Independent Directors
contribu�on to business. jus�fy their capabili�es
to ensure men�oned
compliances.
Business Leader who is or was a promoter or director of an
unlisted company having minimum paid -up capital of Tk. 100.00 N/A -
1(3)(b)(i) million or any listed company or a member of any na�onal or
interna�onal chamber of commerce or business associa�on;
Corporate Leader who is or was a top level execu�ve not lower
than Chief Execu�ve officer or Managing Director or Deputy
Managing Director or Chief Financial Officer or Head of Finance N/A -
1(3)(b)(ii) or Accounts or Company Secretary or Head of Internal Audit and
Compliance or Head of Legal Service or a candidate with
equivalent posi�on of an unlisted company having minimum paid
up capital of Tk. 100.00 million or of a listed company;
Former official of government or statutory or autonomous or
regulatory body in the posi�on not below 5th Grade of the
1(3)(b)(iii) √ -
na�onal pay scale, who has at least educa�onal background of
bachelor degree in economics or commerce or business or law;
University Teacher who has educa�onal background in √ -
1(3)(b)(iv)
Economics or Commerce or Business Studies or Law;
Professional who is or was an advocate prac�cing at least in the Details men�oned in
High Court Division of Bangladesh Supreme Court or a Chartered √ - “Our Directors’ Profile”
1(3)(b)(v)
Accountant or Cost and Management Accountant or Chartered sec�on of this report.
Financial Analyst or Chartered Cer�fied Accountant or Cer�fied
Public Accountant or Chartered Management Accountant or
Chartered Secretary or equivalent qualifica�on;

1(3)(c) The independent director(s) shall have at least 10(ten) years of √ -

experiences in any field men�oned in clause (b);

1(3)(d) In special cases, the above qualifica�ons or experiences may be N/A -

relaxed subject to prior approval of the Commission.
1(4) Duality of Chairperson of the Board of Directors and Managing Director or Chief Execu�ve Officer:-

The posi�ons of the Chairperson of the Board and the Managing Chairman- Mr. S M Parvez
1(4)(a) √ -
Director (MD) and /or Chief Execu�ve Officer (CEO) of the Tamal
company shall be filled by different individuals; MD & CEO- Mr. Golam Awlia
The Managing Director (MD) and/or Chief Execu�ve Officer (CEO)
1(4)(b) of a listed company shall not hold the same posi�on in another √ -
listed company;
1(4)(c) The Chairperson of the Board shall be elected from among the
non-execu�ve directors of the company; √ -
The Board shall clearly define respec�ve roles and responsibili�es
1(4)(d)
of the Chairperson and the Managing Director and/ or Chief √ -
Execu�ve officer;

129
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied

1(4)(e) In the absence of the Chairperson of the Board, the remaining No such event arose
members may elect one of themselves from non-execu�ve √ - during repor�ng period
directors as chairperson for that par�cular Board's mee�ng; the i.e. Chairperson of the
reason of absence of the regular Chairperson shall be duly Board a�end all mee�ng
recorded in the minutes. and preside over there.
1(3) The Directors' Report to the Shareholders
An industry outlook and possible future developments in the The Director’s Report
1(5)(i) industry; √ - Complied with the
guideline
1(5)(ii) The Segment-wise or product-wise performance; √ - Do

1(5)(iii) Risks and concerns including internal and external risk factors,
threat to sustainability and nega�ve impact on environment, if √ - Do
any;
A discussion on Cost of Goods sold, Gross Profit Margin and Net √ - Being a Bank, Interest
1(5)(iv)
Profit Margin, where applicable; Income, Interest
Expenses and Profit
Margins were discussed.

1(5)(v) A discussion on con�nuity of any extraordinary ac�vi�es and - - No such event arose
their implica�ons (gain or loss); during repor�ng period

1(5)(vi) A detailed discussion on related party transac�ons along with a Included in the
statement showing amount, nature of related party, nature of √ - Directors’ Report part of
transac�ons and basis of transac�ons of all related party this Annual Report
transac�ons; [Annexure –I of Audited
Financial Repor�ng
Segment].
1(5)(vii) A statement of u�liza�on of proceeds raised through public √ - Tk. 120 Crore through
issues, rights issues and/or through any others instruments; Ini�al Public Offering
(IPO) duly u�lized in the
Year 2021 and detail
statement given in the
Director report.
An explana�on if the financial results deteriorate a�er the Financial result was not
1(5)(viii) company goes for Ini�al Public Offering (IPO), Repeat Public √ - deteriorate a�er
Offering (RPO). Rights Share Offer, Direct Lis�ng, etc; approval by BSEC on
November 18, 2020 and
Trading of share on
March 22, 2021
An explana�on on any significant variance that occurs between √ -
1(5)(ix) Quarterly Financial Performance and Annual Financial
Statements;
A statement of remunera�on paid to the directors including - - Directors do not get any
1(5)(x) independent directors; remunera�on except
Board Mee�ng Fees and
Travelling Allowance
related with Board
Mee�ng (at actual).
A statement that the financial statements prepared by the
1(5)(xi) management of the issuer company present fairly its state of √ -
affairs, the result of its opera�ons, cash flows and changes in
equity;

1(5)(xii) A statement that proper books of account of the issuer company √ -

have been maintained;
A statement that appropriate accoun�ng policies have been
1(5)(xiii) consistently applied in prepara�on of the financial statements
√ -
and that the accoun�ng es�mates are based on reasonable and
prudent judgment;

130
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
A statement that Interna�onal Accoun�ng Standards (IAS)or
1(5)(xiv) Interna�onal Financial Repor�ng Standards (IFRS), as applicable
√ -
in Bangladesh, have been followed in prepara�on of the financial
statements and any departure there from has been adequately
disclosed;
A statement that the system of internal control is sound in design √ -
1(5)(xv)
and has been effec�vely implemented and monitored;
A statement that minority shareholders have been protected
1(5)(xvi)
from abusive ac�ons by, or in the interest of, controlling √ -
shareholders ac�ng either directly or indirectly and have effec�ve
means of redress;
A statement that there is no Significant doubt upon the issuer
1(5)(xvii) company's ability to con�nue as going concern, if the issuer √ -
company is not considered to be a going concern, the fact along
with reasons there of shall be disclosed;
An explana�on that significant devia�ons from the last year's
1(5)(xviii) opera�ng results of the issuer company shall be highlighted and √ -
the reasons thereof shall be explained;
A statement where key opera�ng and financial data of at least √ -
1(5)(xix) preceding 5 (five) years shall be summarized;
An explana�on on the reasons if the issuer company has not 15% Dividend comprised
declared dividend (cash or stock) for the year; of 7.5 % cash and 7.5%
- - stock for the year ended
1(5)(xx)
December 31, 2021
recommended by Board
in its 138Th mee�ng held
on April 13, 2022 and will
be placed before 9th
AGM for approval.

Board's statement to the effect that no bonus share or stock - - No interim dividend was
1(5)(xxi)
dividend has been or shall be declared as interim dividend; declared.
1(5)(xxii) The total number of Board mee�ngs held during the year and √ -
a�endance by each director;

1(5)(xxiii) A report on the pa�ern of shareholding disclosing the aggregate number of shares(along with name-wise details where stated
below) held by:-

1(5)(xxiii)(a) Parent or Subsidiary or Associated Companies and other related √ - All shares held by
par�es (name -wise details); individual Sponsors &
Shareholders
Directors, Chief Execu�ve Officer, Company Secretary, Chief √ -
1(5)(xxiii)(b) Financial Officer, Head of Internal Audit and Compliance their
spouses and minor children (name- wise details);
1(5)(xxiii)(c) Execu�ves; √ -
1(5)(xxiii)(d) Shareholders holding ten percent (10%) or more than vo�ng No Director/Shareholders
interest in the company (name-wise details). √ - holds 10% or more shares
in the Company.
1(5)(xxiv) In case of the appointment or reappointment of a director, a disclosure on the following informa�on to the
shareholders: -
1(5)(xxiv)(a) a brief resume of the director √ -
1(5)(xxiv) (b) nature of his/her exper�se in specific func�onal areas; √ -
1(5)(xxiv) (c) Names of companies in which the person also holds the √ -
directorship and the membership of commi�ees of the board.
A Management's Discussion and Analysis signed by CEO or MD presen�ng detailed analysis of the company's posi�on and
1(5)(xxv) opera�ons along with a brief discussion of changes in financial statements, among others, focusing on:

131
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied

1(5)(xxv)(a) Accoun�ng policies and es�ma�on for prepara�on of financial √ -

statements;
Changes in accoun�ng policies and es�ma�on, if any, clearly
√ -
1(5)(xxv)(b) describing the effect on financial performance or results and
financial posi�on as well as cash flows in absolute figure for such
changes;
Compara�ve analysis (including effects of infla�on) of financial
performance or results and financial posi�on as well as cash flows √ -
1(5)(xxv)(c)
for current financial year with immediate preceding five years
explaining reasons thereof;
compare such financial performance or results and financial
1(5)(xxv)(d) √ -
posi�on as well as cash flows with the peer industry scenario;
1(5)(xxv)(e) briefly explain the financial and economic scenario of the country √ -
and the globe;
risks and concerns issues related to the financial statements,
1(5)(xxv)(f) explaining such risk and concerns mi�ga�on plan of the
company; and
future plan or projec�on or forecast for company's opera�on,
1(5)(xxv)(g) performance and financial posi�on, with jus�fica�on thereof, i.e.,
√ -
actual posi�on shall be explained to the shareholders in the next
AGM;

1(5)(xxvi) Declara�on or cer�fica�on by the CEO and the CFO to the Board
as required under condi�on No. 3(3) shall be disclosed as per √ -
Annexure-A; and

1(5)(xxvii) The report as well as cer�ficate regarding compliance of

condi�ons of this code as required under condi�on No. 9 shall be √ -
disclosed as per Annexure-B and Annexure-C.
1(6) Mee�ngs of the Board of Directors
The company shall conduct its Board mee�ngs and record the
minutes of the mee�ngs as well as keep required books and
1(7) records in line with the provisions of the relevant Bangladesh √ -
Secretarial Standards (BSS) as adopted by the Ins�tute of
Chartered Secretaries of Bangladesh (ICSB) in so far as those
standards are not inconsistent with any condi�on of this Code.
1(7)(a) Code of Conduct for the Chairperson, other Board members and Chief Execu�ve Officer
The Board shall lay down a code of conduct, based on the Not Applicable as
recommenda�on of the Nomina�on and Remunera�on - - forma�on of NRC for
Commi�ee (NRC), for the Chairperson of the Board, other board Bank is restricted by
members and Chief Execu�ve Officer of the company; Bangladesh Bank vide
le�er ref. no. BRPD
The code of conduct as determined by the NRC shall be posted on
(R- 1)717/2021-
1(7)(b) the website of the company including, among others, prudent
5064 dated June 16,
conduct and behavior; confiden�ality; conflict of interest; - - 2021
compliance with laws, rules and regula�ons; prohibi�on of
insider trading; rela�onship with environment, employees,
customers and suppliers; and independency.

2 Governance of Board of Directors of Subsidiary Company: -

Provisions rela�ng to the composi�on of the Board of the holding
2(a) company shall be made applicable to the composi�on of the √ -
Board of the subsidiary company;
At least 1 (one) independent director of the Board of the holding
√ -
2(b) company shall be a director on the Board of the subsidiary
company;
The minutes of the Board mee�ng of the subsidiary company
shall be placed for review at the following Board mee�ng of the √ -
2(c)
holding company.

132
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
The minutes of the respec�ve Board mee�ng of the holding
2(d) √ -
company shall state that they have reviewed the affairs of the
subsidiary company also;

The Audit Commi�ee of the holding company shall also review

2(e) √ -
the financial statements, in par�cular the investments made by
the subsidiary company.

Managing Director (MD) or Chief Execu�ve Officer (CEO), Chief Financial Officer (CFO) Head of Internal Audit and Compliance
3.
(HIAC) and Company Secretary (CS):-
The Board shall appoint a Managing Director (MD) or Chief
3(1)(a) Execu�ve Officer (CEO), a Company Secretary (CS), a Chief √ -
Financial Officer (CFO) and a Head of Internal Audit and
Compliance (HIAC);
The posi�ons of the Managing Director (MD) or Chief Execu�ve
3(1)(b)
Officer (CEO), Company Secretary (CS), Chief Financial Officer √ -
(CFO) and a Head of Internal Audit and Compliance (HIAC) shall
be filled by different individuals;
The MD or CEO, CS, CFO and HIAC of a listed company shall not
3(1)(c) hold any execu�ve posi�on in any other company at the same √ -
�me;

3(1)(d) The Board shall clearly define respec�ve roles, responsibili�es

and du�es of the CFO, the HIAC and the CS; √ -

The MD or CEO, CS, CFO and HIAC shall not be removed from
3(1)(e) their posi�on without approval of the Board as well as immediate √ -
dissemina�on to the Commission and stock exchange(s).
3(2) Requirement to a�end Board of Director's Mee�ngs
The MD or CEO, CS, CFO and HIAC of the company shall a�end
the mee�ngs of the Board:
√ -
Provided that the CS, CFO and/or the HIAC shall not a�end such
part of a mee�ng of the Board which involves considera�on of an
agenda item rela�ng to their personal ma�ers.
3( 3) Du�es of Managing Director (MD) or Chief Execu�ve Officer (CEO) and Chief Financial Officer (CFO)
The MD or CEO and CFO shall cer�fy to the Board that they have Stated in the cer�ficate
3(3)(a) reviewed financial statements for the year and that to the best of √ - of diligence by CEO &
their knowledge and belief: CFO
These statements do not contain any materially untrue statement
3(3)(a)(i) or omit any material fact or contain statements that might be √ -
misleading;
These statements together present a true and fair view of the
3(3)(a)(ii) company’s affairs and are in compliance with exis�ng accoun�ng √ -
standards and applicable laws;
The MD or CEO and CFO shall also cer�fy that there are, to the
3(3)(b) best of knowledge and belief, no transac�ons entered into by the √ -
company during the year which are fraudulent, illegal or viola�on
of the code of conduct for the company's Board or its member;
3(3)(c) The cer�fica�on of the MD or CEO and CFO shall be disclosed in √ -
the Annual Report.
4. Board of Director's Commi�ee. - For ensuring good governance in the company, the Board shall have at least following
sub-commi�ees:
4(i) Audit Commi�ee; √ -
Not Applicable as forma�on of
4(ii) Nomina�on and Remunera�on Commi�ee NRC for Bank is restricted by
√ - Bangladesh Bank vide le�er ref.
no. BRPD (R- 1)717/2021- 5064
dated June 16, 2021
5. Audit Commi�ee:-
5(1) Responsibility to the Board of Directors

5(1)(a) The company shall have an Audit Commi�ee as a sub-commi�ee √ - Do

of the Board;

133
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
The Audit Commi�ee shall assist the Board of Directors in
5(1)(b) ensuring that the financial statements reflect true and fair view of √ -
the state of affairs of the company and in ensuring a good Do
monitoring system within the business;
The Audit Commi�ee shall be responsible to the Board; the
5(1)(c) du�es of the Audit Commi�ee shall be clearly set forth in wri�ng. √ - Do

5(2) Cons�tu�on of the Audit Commi�ee

5(2)(a) The Audit Commi�ee shall be composed of at least 3 (three) Cons�tuted the
members; √ - Commi�ee as per
Prime Regulator i.e.
BB’s BRPD Circular:11
Date 27.10.2013
5(2)(b) The Board shall appoint members of the audit commi�ee who √ -
shall be non-execu�ve directors of the company excep�ng
Chairperson of the Board and shall include at least 1(one) Do
independent director;

5(2)(c) All members of the audit commi�ee should be "financially

literate" and at least I (one) member shall have accoun�ng or Do
related financial management background and 10(ten)years of √ -
such experience;
When the term of service of any Commi�ee members expires or No such situa�on arisen
there is any circumstance causing any Commi�ee member to be in the repor�ng year
5(2)(d) unable to hold office before expira�on of the term of service,
thus making the number of the Commi�ee members to be lower
than the prescribed number of 3 (three) persons, the Board shall
appoint the new Commi�ee member to fill up the vacancy √ -
immediately or not later than 1 (one) month from the date of
vacancy in the Commi�ee to ensure con�nuity of the
performance of work of the Audit Commi�ee;

The company secretary shall act as the secretary of the √ - Mr. Reaz Uddin Asif
5(2)(e)
Commi�ee.

5(2)(f) The quorum of the Audit Commi�ee mee�ng shall not cons�tute √ -
without at least 1 (one) independent director.
5(3) Chairman of the Audit Commi�ee
The Board of Directors shall select 1 (one) member of the Audit Air Chief Marshal Abu
5(3)(a) Commi�ee to be Chairperson of the Audit Commi�ee, who shall √ - Esrar, BBP; ndc (Retd.)
be an Independent director;
In the absence of the Chairperson of the audit commi�ee, the Chairperson of the board
5(3)(b) remaining members may elect one of themselves as Chairperson a�end all mee�ng and
for that par�cular mee�ng, in that case there shall be no problem preside over there
of cons�tu�ng a quorum as required under condi�on No.5(4)(b) √ -
and the reason of absence of the regular chairperson shall be
duly recorded in the minutes.
Chairperson of the Audit Commi�ee shall remain present in the
5(3)(c) √ -
Annual General Mee�ng (AGM):

5(4) Mee�ng of the Audit Commi�ee

The Audit Commi�ee shall conduct at least its four mee�ngs in a

5(4)(a) √ -
financial year: Provided that any emergency mee�ng in addi�on
to regular mee�ng may be convened at the request of any one of
the members of the Commi�ee;

5(4)(b) The quorum of the mee�ng of the Audit Commi�ee shall be

cons�tuted in presence of either two members or two third of √ -
the members of the Audit Commi�ee, whichever is higher, where
presence of an independent director is a must.
5(5) Responsibility to the Board of Directors

134
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
5(5)(a) Oversee the financial repor�ng process; √ -
5(5)(b) Monitor choice of accoun�ng policies and principles; √ -

Monitor Internal Audit and Compliance process to ensure that it

5(5)(c) is adequately resourced, including approval of the Internal Audit
√ -
and Compliance plan and review of the Internal Audit and
Compliance Report;
5(5)(d) Oversee hiring and performance of external auditors. √ -
Hold mee�ng with the external or statutory auditors for review of
5(5)(e) the annual financial statements before submission to the Board √ -
for approval or adop�on;

5(5)(f) Review along with the management, the annual financial √ -

statements before submission to the board for approval;
5.5(g) Review along with the management, the quarterly and half yearly
financial statements before submission to the board for approval; √ -

5.5(h) Review the adequacy of internal audit func�on; √ -

5(5)(i) Review the Management's Discussion and Analysis before

disclosing in the Annual Report;
Review the Management's Discussion and Analysis before √ -
5(5)(j)
disclosing in the Annual Report;

5(5)(k) Review Management Le�ers or Le�er of Internal Control √ -

weakness issued by statutory auditors.

5(5)(l) Oversee the determina�on of audit fees based on scope and

magnitude, level of exper�se deployed and �me required for
effec�ve audit and evaluate the performance of external
auditors;
5(5)(m) Oversee whether the proceeds raised through Ini�al public
Offering (IPO) or Repeat public Offering (RPO) or Rights Share √ -
offer have been u�lized as per the purpose stated in relevant
offer document or prospectus approved by the Commission:

5(6)(a) Repor�ng of the Audit Commi�ee

5(6) Repor�ng to the Board of Directors
5(6)(a)(i) The Audit Commi�ee shall report on its ac�vi�es to the Board. √ -
5(6)(a)(ii) The Audit Commi�ee shall immediately report to the Board of Directors on the following findings, if any: -
5(6)(a)(ii)(a) report on conflicts of interests; √ - No such event occurred
during the period under
review
5(6)(a)(ii)(b) suspected or presumed fraud or irregularity or material defect
iden�fied in the internal audit and compliance process or in the √ - Do
financial statements; control system;
suspected infringement of laws, regulatory compliances √ -
5(6)(a)(ii)(c) Do
including securi�es related laws, rules and regula�ons;

5(6)(a)(ii)(d) any other ma�er which the Audit Commi�ee deems necessary √ - Do
shall be disclosed to the Board immediately;
5(6)(b) Repor�ng to the Authori�es: -
If the Audit Commi�ee has reported to the Board about anything
which has material impact on the financial condi�on and results
of opera�on and has discussed with the Board and the
management that any rec�fica�on is necessary and if the Audit √ - No such event occurred
Commi�ee finds that such rec�fica�on has been unreasonably during period under
ignored, the Audit Commi�ee shall report such finding to the review
Commission, upon repor�ng of such ma�ers to the Board for
three �mes or comple�on of a period of 6 (six) months from the
date of first repor�ng to the Board, whichever is earlier.

135
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
5(7) Repor�ng to the Shareholders and General Investors
Report on ac�vi�es carried out by the Audit Commi�ee, including No such reportable
any report made to the Board under condi�on 5(6)(a)(ii) above √ - incidence arose
during the year, shall be signed by the Chairperson of the Audit
Commi�ee and disclosed in the annual report of the issuer
company.
6. Nomina�on and remunera�on Commi�ee (NRC). Not Applicable as forma�on of NRC for Bank is
restricted by Bangladesh Bank vide le�er ref.
no. BRPD (R- 1)717/2021- 5064 dated June 16,
2021

6(1) Responsibility to the Board of Directors

6(1)(a) The company shall have a Nomina�on and Remunera�on

√
Commi�ee (NRC) as a sub-commi�ee of the Board;

6(1)(b) The NRC shall assist the Board in formula�on of the nomina�on
criteria or policy for determining qualifica�ons, posi�ve
a�ributes, experiences and independence of directors and top √
level execu�ve as well as a policy for formal process of
considering remunera�on of directors, top level execu�ve;

6(1)(c) The Terms of Reference (ToR) of the NRC shall be clearly set forth
in wri�ng covering the areas stated at the condi�on No. 6(5)(b). -

6(2) Cons�tu�on of the NRC

The Commi�ee shall comprise of at least three members
6(2)(a) including an independent director; √

6(2)(b) All member of the Commi�ee shall be non-execu�ve directors; √

Members of the Commi�ee shall be nominated and appointed by
6(2)(c) √
the Board;
The Board shall have authority to remove and appoint any √
6(2)(d)
member of the Commi�ee;
In case of death, resigna�on, disqualifica�on, or removal of any
6(2)(e) member of the Commi�ee or in any other cases of vacancies, the √
board shall fill the vacancy within 180 (one hundred eighty) days No Such event Occurred
of occurring such vacancy in the Commi�ee;
The Chairperson of the Commi�ee may appoint or co-opt any
6(2)(f) external expert and/or member(s) of staff to the Commi�ee as
advisor who shall be non-vo�ng member, if the Chairperson feels -
that advice or sugges�on form such external expert and/or
member(s) of staff shall be required or valuable for the
Commi�ee;
The company secretary shall act as the secretary of the Not Applicable as
6(2)(g) -
Commi�ee; forma�on of NRC for
6(2)(h) The quorum of the NRC mee�ng shall not cons�tute without Bank is restricted by
- Bangladesh Bank vide
a�endance of at least an independent director;
le�er ref. no. BRPD (R-
No member of the NRC shall receive, either directly or indirectly, 1)717/2021- 5064 dated
6(2)(i)
any remunera�on for any advisory or consultancy role or June 16, 2021
-
otherwise, other than Director's fees or honorarium from the
company.
6(3) Chairperson of the NRC
The Board shall select 1(one) member of the NRC to be
6(3)(a) Chairperson of the Commi�ee, who shall be an independent √
director;

6(3)(b) In the absence of the Chairperson of the NRC, the remaining Not Applicable as
members may elect one of themselves as Chairperson for that forma�on of NRC for Bank
par�cular mee�ng, the reason of absence of the regular - is restricted by Bangladesh
Chairperson shall be duly recorded in the minutes; Bank vide le�er ref. no.
The Chairperson of the NRC shall a�end the annual general BRPD (R- 1)717/2021-
6(3)(c) - 5064 dated June 16, 2021
mee�ng (AGM) to answer the queries of the shareholders:

136
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
6(4) Mee�ng of the NRC
6(4)(a) The NRC shall conduct at least one mee�ng in a financial year; - Not Applicable as forma-
�on of NRC for Bank is
6(4)(b) The Chairperson of the NRC may convene any emergency restricted by Bangladesh
mee�ng upon request by any member of the NRC; - Bank vide le�er ref. no.
BRPD (R- 1)717/2021-
5064 dated June 16, 2021

6(4)(c) The quorum of the mee�ng of the NRC shall be cons�tuted in

presence of either two members or two third of the members of
the Commi�ee, whichever is higher, where presence of an -
independent director is must as required under condi�on No.
6(2)(h);

6(4)(d) The proceedings of each mee�ng of the NRC shall duly be

recorded in the minutes and such minutes shall be confirmed in -
the next mee�ng of the NRC.
6(5) Role of the NRC

6(5)(a) NRC shall be independent and responsible or accountable to the

- -
Board and to the shareholders;

6(5)(b) NRC shall oversee, among others, the following ma�ers and make - -
report with recommenda�on to the Board:
Formula�ng the criteria for determining qualifica�ons, posi�ve
6(5)(b)(i)
a�ributes and independence of a director and recommend a - -
policy to the Board, rela�ng to the remunera�on of the directors,
top level execu�ve, considering the following:
The level and composi�on of remunera�on is reasonable and
6(5)(b)(i)(a) sufficient to a�ract, retain and mo�vate suitable directors to run - -
the company successfully;
The rela�onship of remunera�on to performance is clear and
6(5)(b)(i)(b) - -
meets appropriate performance benchmarks; and
Remunera�on to directors, top level execu�ve involves a balance
6(5)(b)(i)(c) between fixed and incen�ve pay reflec�ng short and long-term - -
performance objec�ves appropriate to the working of the
company and its goals; Not Applicable as
forma�on of NRC for
Devising a policy on Board's diversity taking into considera�on Bank is restricted by
6(5)(b)(ii) age, gender, experience, ethnicity, educa�onal background and - - Bangladesh Bank vide
na�onality; le�er ref. no. BRPD
(R- 1)717/2021- 5064
Iden�fying persons who are qualified to become directors and dated June 16, 2021
6(5)(b)(iii) who may be appointed in top level execu�ve posi�on in - -
accordance with the criteria laid down, and recommend their
appointment and removal to the Board;

Formula�ng the criteria for evalua�on of performance of - -

6(5)(b)(iv)
independent directors and the Board;

6(5)(b)(v) Iden�fying the company's needs for employees at different levels

and determine their selec�on, transfer or replacement and - -
promo�on criteria;

6(5)(b)(vi) Developing, recommending and reviewing annually the - -

company's human resources and training policies;

6(5)(c) The company shall disclose the nomina�on and remunera�on

policy and the evalua�on criteria and ac�vi�es of NRC during the - -
year at a glance in its annual report.
7. External or Statutory Auditors
7(1) The issuer shall not engage its external or statutory auditors to perform the following services of the company, namely :--
7(1) (i) Appraisal or valua�on services or fairness opinions; √ -
7 (1) (ii) Financial informa�on system design and implementa�on; √ -
Book-keeping or other services related to the accoun�ng records
7 (1) (iii) √ -
or financial statement;

137
 Compliance Status (Put √ in
Condi�o
Title the appropriate column) Remarks (if any)
No.
Complied Not Complied
7 (1) (iv) Broker –dealer services; √ -
7 (1) (v) Actuarial services; √ -
7 (1) (vi) Internal audit services or special audit services; √ -
7 (1) (vii) Any services that the Audit Commi�ee determines. √ -
Audit or cer�fica�on services on compliance of corporate
7 (1) (viii) √ -
governance as required under condi�on No.9(1);
7 (1) (ix) Any other service that creates conflict of interest √ -
No Partner or employees of the external audit firms shall possess
7(2) any share of the company they audit at least during the tenure of
their audit assignment of that company; his or her family √ -
members also shall not hold ant shares in the said company:

Representa�ve of external or statutory auditors shall remain

7(3) present in the Shareholders' Mee�ng (Annual General mee�ng or
√ -
Extraordinary General Mee�ng) to answer the queries of the
shareholders.
8. Maintaining a website by the Company.-
The Company shall have an official website linked with the The address of official
8(1)
website of the stock exchange. website of the Bank is
√ - www.nrbcommercialban
k.com & it’s already
linked with websites of
DSE & CSE.
8(2) The company shall keep the website func�onal from the date of √ -
lis�ng.

8(3) The company shall make available the detailed disclosures on its
website as required under the regula�ons of the concerned stock √ -
exchange(s)
9. Repor�ng and Compliance of Corporate Governance.-
The company shall obtain a cer�ficate from a prac�cing
9(1) Professional Accountant or Secretary (Chartered Accountant or
Cost and Management Accountant or Chartered Secretary)
other than its statutory auditors or audit firm on yearly basis √ -
regarding compliance of Corporate Governance Code of the
Commission and shall such cer�ficate shall be disclosed in the
Annual Report.

9(2) The professional who will provide the cer�ficate on compliance

of this Corporate Governance Code shall be appointed by the √ -
Shareholders in the annual general mee�ng.

The directors of the company shall state, in accordance with the

9(3)
Annexure-C a�ached, in the directors' report whether the √ -
company has complied with these condi�ons or not.

138
 STATUS OF COMPLIANCE ON BANGLADESH BANK GUIDELINES
ON CORPORATE GOVERNANCE
The Bangladesh Bank (BB) guidelines and NRBCBL’s compliance as per BRPD Circular No.11 dated 27 October 2013 thereto are presented below:

SL No. Par�culars Compliance Status

1. FORMATION OF BOARD OF DIRECTORS

According to Sec�on 15 of the Bank Company Act, 1991 (Amended upto 2018) includes provisions for
prior approval of Bangladesh Bank before the appointment of new bank directors, as well as dismissal,
Complied
termina�on or removal of any director from the post; director’s fit & proper criteria; maximum number
of directors; appointment of independent directors; appointment of maximum 4(four) members from
a family as director; etc.

Appointment of New directors:

1.1 Under sec�on 15(4) of the Bank Company Act, 1991 (amended upto 2018), every banking company,
other than specialized banks, at the �me of taking prior approval from Bangladesh Bank for
appoin�ng/reappoin�ng directors should furnish the following documents along with the applica�on:

a) Personal informa�on of the nominated person (Appendix-ka);

b) Nominated person’s declara�on(Appendix-kha); Complied
c) ‘Declara�on for confiden�ality’ by the nominated person (Appendix-ga);
d) In case of Independent director, the approval le�er from Security and Exchange commission;
e) In case of Independent director, a declara�on of the directors concern as Appendix-gha (he will
also submit declara�on under Appendix-ka, kha & ga);
f) CIB report of the nominated person;
g) Updated list of the directors.

Vaca�on of office of Director:

1.2
a) The office of director shall be vacated according to the instruc�ons specified in sec�on 108(1) of
the Companies Act, 1994. Besides, when a bank director becomes defaulter and does not repay
the loan within two months a�er ge�ng a no�ce under the sec�on 17 of the Bank Company Act,
1991; provides false statement at the �me of appointment; or fails to fulfill the minimum
eligibility criteria, the office of the director will be vacated.

b) If the office of a director is vacated by a no�ce under the sec�on 17 of BCA, the person will not
be eligible to become a director of the bank or any other bank or any financial ins�tu�on for one Complied
year from the date of repayment of the total amount due to the bank. It is men�onable here that
the dues can be adjusted with the shares held by the director in that bank. When a director
receives a no�ce under sec�on 17 of BCA, 1991, he/she can’t transfer his/her shares of that bank
un�l he/she repays all the liabili�es of the no�ced bank or financial ins�tu�on

c) Besides, Bangladesh Bank can remove a director or chairman of a bank, except state owned
banks, for conduc�ng any kind of ac�vi�es that is detrimental to the interest of the banks
depositors or against the public interest under Sec�on 46 and can supersede the board of a
banking company under Sec�on 47 of BCA, 1991.

Removal of Directors from office:

1.3 According to sec�on 108(2) of the Companies Act, 1994, with the prior approval of Bangladesh Bank, a Complied [No such
bank director other than specialized banks can be removed from his office for the reason specified in removal occurred
its Ar�cles of Associa�on. For this purpose, the reason and grounds of the dismissal/removal and copy during the period]
of the decision of the board and list of directors should be submi�ed to Bangladesh Bank. In this case,
the removal will be effec�ve from the date of Bangladesh Bank’s approval.

Appointment of Alternate Director:

1.4 Subject to compliance of sec�on 101 of the Companies Act, 1994, an alternate director can be
appointed to act for a director during his absence for a con�nuous period of not less than three months
from Bangladesh. In this context, the following instruc�ons should be followed:

a) Bank has to collect and properly maintain the documentary evidences rela�ng to departure and
arrival of the original director. If there is any excep�on, the chief execu�ve officer should Complied
mmediately inform it to Bangladesh Bank.
b) The copy of the decision of the board regarding appointment of alternate director, with original
director’s probable returning date from abroad should be sent to Bangladesh Bank within 7 days
of taking the decision and the director’s arrival date must be in�mated to Bangladesh Bank
immediately a�er his return.

139
 SL No. Par�culars Compliance Status

c) Any loan defaulter or any person who is not eligible to become a director as per any rules &
regula�on will not be appointed as an alternate director.
d) As appointment of alternate director is a temporary measure; therefore, he/she will not be
included in any kind of commi�ee cons�tuted by the board.
e) While in the office, an alternate director or his/her affiliated organiza�on will not get any kind of
loan facili�es from his bank. In case of previous loan, enhancement of limit or extension of �me
period or any kind of exemp�on or interest waiver will not be allowed. Moreover, all restric�ons
applicable to directors according to rules & regula�ons will also be applicable to the alternate
director

2. DEPOSITOR DIRECTOR
As the previous provisions regarding appointment of Depositor Directors of the Bank Company Act,
1991 has been amended; appointment of director from depositors is no longer required. But, a�er N/A
complying regula�on under sec 15(9) of the Bank Company Act, 1991 (amended upto 2018) bank can
consider the tenure of exis�ng depositor director or may appoint them as independent director.

INFORMATION REGARDING DIRECTORS

3.
Banks are advised to take the following steps regarding director informa�on:
a) Every bank should keep an updated list of bank directors, Complied
b) Banks should send a directors’ list to other banks or financial ins�tu�ons immediately a�er the
appointment or release of director.
c) Banks should display a list of directors in the website and update it on a regular basis.
4. RESPONSIBILITIES OF THE BOARD OF DIRECTORS
4.1 Responsibili�es and Authori�es of the Board of Directors:
To ensure good governance in the bank management it is essen�al to have specific demarca�on of
responsibili�es and authori�es among controlling bodies over bank affairs. In the Bank Company Act,
1991 (amended upto 2013) the newly included Sec�on 15(kha) & (ga) give responsibility to the board
of directors for establishing policies for the bank company, for risk management, internal controls,
internal audit and compliance and for ensuring their implementa�on.

(a) Work-planning and strategic Management:

i) The board Shall determine the objec�ves and goals and to this end shall chalk out strategies and
work-plans on annual basis. It shall specially engage itself in the affairs of making strategies
consistent with the determined objec�ves and goals and in the issues rela�ng to structural change
and reorganiza�on for enhancement of ins�tu�onal efficiency and other relevant policy ma�ers. It
shall analyze/monitor at quarterly rests the development of implementa�on of the work-plans.
Complied
ii) The board shall have its analy�cal review incorporated in the Annual Report as regard the
success/failure in achieving the business and other targets as set out in its annual work-plan and
shall apprise the shareholders of its opinions/recommenda�ons on future plans and strategies. It
shall set the Key Performance Indicators (KPIs) for the CEO and other senior execu�ves and have it
evaluated at �mes.
(b) Credit and risk management:
(i) The policies, strategies, procedures etc. in respect of appraisal of loan/investment proposal,
sanc�on, disbursement, recovery, reschedule and write-off thereof shall be made with the board's
approval under the purview of the exis�ng laws, rules and regula�ons. The board shall specifically
distribute the power of sanc�on of loan/investment and such distribu�on should desirably be made
among the CEO and his subordinate execu�ves as much as possible. No director, however, shall
interfere, direct or indirect, into the process of loan approval. Complied

(ii) The board shall frame policies for risk management and get them complied with and shall monitor
the compliance at quarterly rests and review the concerned report of the risk management team
and shall compile in the minutes of the board mee�ng. The board shall monitor the compliance of
the guidelines of Bangladesh Bank regarding key risk management.
(c) Internal control management:
The board shall be vigilant on the internal control system of the bank in order to a�ain and maintain
sa�sfactory qualita�ve standard of its loan/investment por�olio. The board will establish such an
internal control system so that the internal audit process can be conducted independently from the Complied
management. It shall review the reports submi�ed by its audit commi�ee at quarterly rests regarding
compliance of recommenda�ons made in internal and external audit reports and the Bangladesh Bank
inspec�on reports.

140
SL No. Par�culars Compliance Status

(d) Human resources management and development:

(i) Policies rela�ng to recruitment, promo�on, transfer, disciplinary and puni�ve measures, human
resources development etc. and service rules shall be framed and approved by the board. The
chairman or the directors shall in no way involve themselves or interfere into or influence over any
administra�ve affairs including recruitment, promo�on, transfer and disciplinary measures as
executed under the set service rules. No member of the board of directors shall be included in the
selec�on commi�ees for recruitment and promo�on to different levels. Recruitment, promo�on,
transfer & punishment of the officers immediate two �ers below the CEO shall, however, rest upon
the board. Such recruitment and promo�on shall have to be carried out complying with the service
rules i.e., policies for recruitment and promo�on.
Complied
(ii) The board shall focus its special a�en�on to the development of skills of bank's staff in different
fields of its business ac�vi�es including prudent appraisal of loan/investment proposals, and to the
adop�on of modern electronic and informa�on technologies and the introduc�on of effec�ve
Management Informa�on System (MIS). The board shall get these programs incorporated in its
annual work plan.
(iii) The board will compose Code of Ethics for every �er and they will follow it properly. The board will
promote healthy code of conducts for developing a compliance culture.
(e) Financial Management:
(i) The annual budget and the statutory financial statements shall be finalized with the approval of the
board. It shall at quarterly rests review/monitor the posi�ons in respect of bank's income,
expenditure, liquidity, non-performing asset, capital base and adequacy, maintenance of loan loss
provision and steps taken for recovery of defaulted loans including legal measures.
(ii) The board shall frame the policies and procedures for bank's purchase and procurement ac�vi�es
and shall accordingly approve the distribu�on of power for making such expenditures. The maximum Complied
possible delega�on of such power of expenditures shall rest on the CEO and his subordinates. The
decision on ma�ers rela�ng to infrastructure development and purchase of land, building, vehicles
etc. for the purpose of bank's business shall, however, be adopted with the approval of the board

iii) The board will review whether an Asset-Liability Commi�ee (ALCO) has been formed and it is
working according to Bangladesh Bank guidelines.

(f) Appointment of Chief Execu�ve Officer (CEO):

In order to strengthen the financial base of the bank and obtain confidence of the depositors, one of
the major responsibili�es of the board of directors is to appoint an honest, efficient, experienced and Complied
suitable CEO or Managing Director. The Board of directors will appoint a suitable CEO with the approval
of the Bangladesh Bank.

(g) Other responsibili�es of the Board:

Complied
The board should follow and comply with the responsibili�es assigned by Bangladesh Bank.

4.2 Mee�ngs of the Board of Directors: Complied. Usually

Board of Directors may meet once or more than once in a month upon necessity and shall meet at least NRBCBL holds one or
once in every three months. Excessive mee�ngs are discouraged. two Board Mee�ngs in
a month [Total 21
mee�ng held in 2021]
4.3 Responsibili�es of the Chairman of the Board:

(a) As the chairman of the board of directors or chairman of any commi�ee formed by the board or
any director does not personally possess the jurisdic�on to apply policy making or execu�ve Complied
authority, he/she shall not par�cipate in or interfere into the administra�ve or opera�onal and
rou�ne affairs of the bank.
(b) The chairman may conduct on-site inspec�on of any bank-branch or financing ac�vi�es under the
purview of the oversight responsibili�es of the board. He may call for any informa�on rela�ng to
bank's opera�on or ask for inves�ga�on into any such affairs; he may submit such informa�on or
Complied
inves�ga�on report to the mee�ng of the board or the execu�ve commi�ee and if deemed
necessary, with the approval of the board, he shall effect necessary ac�on thereon in accordance
with the set rules through the CEO. However, any complaint against the CEO shall have to be
apprised to Bangladesh Bank through the board along with the statement of the CEO
(c) The chairman may be offered an office-room, a personal secretary/assistant, one peon/ MLSS, one
telephone at the office, one mobile phone to use inside the country and a vehicle in the Complied
business-interest of the bank subject to the approval of the board.

141
 SL No. Par�culars Compliance Status

5. FORMATION OF COMMITTEES FROM THE BOARD OF DIRECTORS:

Each bank company can form 1(one) execu�ve commi�ee, 1(one) audit commi�ee and 1(one) risk Complied
management commi�ee with the directors. Board can’t form any other permanent, temporary or sub-
commi�ee except the above men�oned three commi�ees.

5.1 Execu�ve commi�ee

Execu�ve Commi�ee (EC): Execu�ve commi�ee should be formed with the members of the board to
con�nue the urgent and daily or rou�ne works between the intervals of two board mee�ngs. Execu�ve Complied
commi�ee will perform according to their terms of reference determined by the board of directors.

a) Organiza�onal structure:

i. Members of the commi�ee will be nominated by the board of directors from themselves;
ii. The execu�ve commi�ee will comprise of maximum 07 (seven) members;
iii. Members may be appointed for a 03 (three)-year term of office;
iv. Chairman of the Board of Directors can be the chairman of execu�ve commi�ee;
v. Company secretary of the bank will be the secretary of the execu�ve commi�ee.
Complied
b) Qualifica�ons of the Members:
i. Integrity, dedica�on, and opportunity to spare �me in the func�ons of commi�ee will have to be
considered while nomina�ng a director to the commi�ee;
ii. Each member should be capable of making valuable and effec�ve contribu�ons in the func�oning
of the commi�ee;
iii. To perform his or her role effec�vely each commi�ee member should have adequate
understanding of the detailed responsibili�es of the commi�ee membership as well as the bank's
business, opera�ons and its risks.
c) Roles and Responsibili�es of the Execu�ve Commi�ee:
i. The execu�ve commi�ee can decide or can act in those cases as instructed by the Board of
Complied
directors that are not specifically assigned on full board through the Bank Company Act, 1991 and
other laws and regula�ons.

ii. The execu�ve commi�ee can take all necessary decision or can approve cases within power
delegated by the board of directors. Complied
iii. All decisions taken in the execu�ve commi�ee should be ra�fied in the next board mee�ng.
d) Mee�ngs:
i. The execu�ve commi�ee can sit any �me as it may deem fit.
ii. The commi�ee may invite Chief Execu�ve Officer, Head of internal audit or any other Officer to its
mee�ngs, if it deems necessary; Complied
iii. To ensure ac�ve par�cipa�on and contribu�on by the members, a detailed memorandum should
be distributed to commi�ee members well in advance before each mee�ng;
iv. All decisions/observa�ons of the commi�ee should be noted in minutes.
5.2 Audit Commi�ee:
The board will approve the objec�ves, strategies and overall business plans of the bank and the audit
commi�ee will assist the board in fulfilling its oversight responsibili�es. The commi�ee will review the
Complied
financial repor�ng process, the system of internal control and management of financial risks, the audit
process, and the bank's process for monitoring compliance with laws and regula�ons and its own code
of business conduct.

a) Organiza�onal structure:

i. Members of the commi�ee will be nominated by the board of directors from the directors;
ii. The audit commi�ee will comprise of maximum 05 (five) members, with minimum 2(two)
independent directors; Complied
iii. Audit commi�ee will comprise with directors who are not execu�ve commi�ee members;
iv. Members may be appointed for a 03 (three) year term of office;
v. Company secretary of the bank will be the secretary of the audit commi�ee.

142
SL No. Par�culars Compliance Status

b) Qualifica�ons of the Member:

i. Integrity, dedica�on, and opportunity to spare �me in the func�ons of commi�ee will have to be
considered while nomina�ng a director to the commi�ee ;
ii. Each member should be capable of making valuable and effec�ve contribu�ons in the func�oning
of the commi�ee
Complied
iii. To perform his or her role effec�vely each commi�ee member should have adequate
understanding of the detailed responsibili�es of the commi�ee membership as well as the bank's
business, opera�ons and its risks.
iv. Professionally Experienced persons in banking/financial ins�tu�ons specially having educa�onal
qualifica�on in Finance, Banking, Management, Economics, Accoun�ng will get preference in
forming the commi�ee.
c) Roles and Responsibili�es of the Audit Commi�ee:
i) Internal Control:

1. Evaluate whether management is se�ng the appropriate compliance culture by communica�ng

the importance of internal control and the management of risk and ensuring that all employees
have clear understanding of their roles and responsibili�es;

2. Review management’s ac�ons in building computeriza�on of the bank and its applica�ons and
bank's Management Informa�on System (MIS); Complied
3. Consider whether internal control strategies recommended by internal and external auditors have
been implemented by the management;

4. Consider reports rela�ng to fraud, forgery, deficiencies in internal control or other similar issues
detected by internal and external auditors and inspectors of the regulatory authority and place it
before the board a�er reviewing whether necessary correc�ve measures have been taken by the
management.

(ii) Financial Repor�ng:

1. Audit commi�ee will check whether the financial statements reflect the complete and concrete
informa�on and determine whether the statements are prepared according to exis�ng rules &
regula�ons and standards enforced in the country and as per relevant prescribed accoun�ng Complied
standards set by Bangladesh Bank;

2. Discuss with management and the external auditors to review the financial statements before its
finaliza�on.

(iii) Internal Audit:

1. Audit commi�ee will monitor whether internal audit working independently from the
management.

2. Review the ac�vi�es of the internal audit and the organiza�onal structure and ensure that no Complied
unjus�fied restric�on or limita�on hinders the internal audit process;

3. Examine the efficiency and effec�veness of internal audit func�on;

4. Examine whether the findings and recommenda�ons made by the internal auditors are duly
considered by the management or not.

(iv) External Audit:

1. Review the performance of the external auditors and their audit reports;
Complied
2. Examine whether the findings and recommenda�ons made by the external auditors are duly
considered by the management or not.

3. Make recommenda�ons to the board regarding the appointment of the external auditors.

(v) Compliance with exis�ng laws and Regula�ons:

Review whether the laws and regula�ons framed by the regulatory authori�es (central bank and other Complied
Bodies) and internal regula�ons approved by the board are being complied with.

143
SL No. Par�culars Compliance Status

(vi) Other Responsibili�es:

1. Submit compliance report to the board on quarterly basis on regulariza�on of the omission, fraud
and forgeries and other irregulari�es detected by the internal and external auditors and inspectors
of regulatory authori�es; Complied
2. External and internal auditors will submit their related assessment report, if the commi�ee solicit;

3. Perform other oversight func�ons as desired by the Board of Directors and evaluate the
commi�ee's own performance on a regular basis.

d) Mee�ngs:

1. The audit commi�ee should hold at least 4 mee�ngs in a year and it can sit any �me as it may
deems fit;

2. The commi�ee may invite Chief Execu�ve Officer, Head of internal audit or any other Officer to its Complied
mee�ngs, if it deems necessary;

3. To ensure ac�ve par�cipa�on and contribu�on by the members, a detailed memorandum should
be distributed to commi�ee members well in advance before each mee�ng;

4. All decisions/observa�ons of the commi�ee should be noted in minutes.

5.3 Risk Management Commi�ee:

To play an effec�ve role in mi�ga�ng impending risks arising out from strategies and policies
formulated by the Board and to carry out the responsibili�es efficiently, a risk management commi�ee
will be formed. A�er iden�fying and assessing several risk factors like credit risks, foreign exchange Complied
risks, internal control and compliance risks, money laundering risks, informa�on and communica�on
risks, management risks, interest risks, liquidity risks etc.; the risk management commi�ee will
scru�nize whether appropriate risk management measures are being put in place and applied and
whether adequate capital and provision is being maintained against the risks iden�fied.

a) Organiza�onal Structure:

1. Members of the commi�ee will be nominated by the board of directors from themselves;

2. The Risk Management Commi�ee will comprise of maximum 05 (five) members; Complied
3. Members may be appointed for a 03 (three) year term of office;

4. Company secretary of the bank will be the secretary of the Risk Management Commi�ee.

b) Qualifica�ons of the Member:

1. Integrity, dedica�on, and opportunity to spare �me in the func�ons of commi�ee will have to be
considered while nomina�ng a director to the commi�ee;

2. Each member should be capable of making valuable and effec�ve contribu�ons in the func�oning Complied
of the commi�ee;

3. To perform his or her role effec�vely each commi�ee member should have adequate
understanding of the detailed responsibili�es of the commi�ee membership as well as the bank's
business, opera�ons and its risks.

c) Roles and Responsibili�es of the Risk Management Commi�ee:

i) Risk iden�fica�on & control policy :

Formula�on and implementa�on of appropriate strategies for risk assessment and its control is the Complied
responsibility of Risk Management Commi�ee. Risk Management Commi�ee will monitor risk
management policies &methods and amend it if necessary. The commi�ee will review the risk
management process to ensure effec�ve preven�on and control measures.

ii) Construc�on of organiza�onal structure:

The responsibility of Risk Management Commi�ee is to ensure an adequate organiza�onal structure

for managing risk within the bank. The Risk Management Commi�ee will supervise forma�on of Complied
separate management level commi�ees and monitor their ac�vi�es for the compliance of instruc�ons
of lending risk, foreign exchange transac�on risk, internal control & compliance risk, money laundering
risk, informa�on & communica�on risk including other risk related guidelines.

144
 SL No. Par�culars Compliance Status

iii) Analysis and approval of Risk Management policy:

Risk management policies & guidelines of the bank should be reviewed annually by the commi�ee. The
Complied
commi�ee will propose amendments if necessary and send it to the Board of Directors for their
approval. Besides, other limits including lending limit should be reviewed at least once annually and
should be amended, if necessary.

iv) Storage of data & Repor�ng system:

Adequate record keeping & repor�ng system developed by the bank management will be approved
by the risk management commi�ee. The commi�ee will ensure proper use of the system. The
commi�ee will minute its proposal, sugges�ons & summary in a specific format & inform the Board of Complied
Directors.

v) Monitoring the implementa�on of overall Risk Management Policy:

Risk Management Commi�ee will monitor proper implementa�on of overall risk management policies. Complied
They will monitor whether proper steps have been taken to mi�gate all risks including lending risk,
market risk, and management risk.

vi) Other responsibili�es:

1. Commi�ee’s decision and sugges�ons should be submi�ed to the Board of Directors quarterly in
short form;
Complied
2. Comply instruc�ons issued �me to �me by the controlling Body;

3. Internal & external auditor will submit respec�ve evalua�on report whenever required by the
commi�ee.

d) Mee�ngs:

1. The risk management commi�ee should hold at least 4 mee�ngs in a year and it can sit any �me as
it may deem fit;
2. The commi�ee may invite Chief Execu�ve Officer, Chief Risk Officer and any other Officer to its
mee�ngs, if it deems necessary; Complied

3. To ensure ac�ve par�cipa�on and contribu�on by the members, a detailed memorandum should
be distributed to commi�ee members well in advance before each mee�ng;

4. All decisions/observa�ons of the commi�ee should be noted in minutes.

6 Training of the Directors:

Complied
The directors shall make themselves fully aware of the banking laws and other related rules and
regula�ons for performing his du�es properly.

7 In�ma�on of the Circular to the Board and related persons by CEO:

Complied
The CEO will inform about this Circular to the directors and other related persons.

2 Appointment and responsibili�es of Chief Execu�ve Officer (CEO)

A Rules and regula�ons for appointment of the CEO

1 Moral Integrity: In case of appointment to the post of CEO, sa�sfac�on in respect of the concerned
person should be ensured to the effects that:

a) He has not been convicted by any Criminal Court of Law

b) He has not been punished for viola�ng any rules, regula�ons or procedures/ norms set by any Complied
regulatory authority.

c) He was not associated with any such company/organiza�on; registra�on or license of which has
been cancelled.
2 Experience and Suitability:

a) For appointment as a CEO, the concerned person must have experience in banking profession for Complied
at least 15 (fi�een) years as an ac�ve officer and at least 02 (two) years experience in a post
immediate below the CEO of a bank

145
SL No. Par�culars Compliance Status

b) He must have a Master’s degree at minimum from any recognized university. Higher academic
educa�on in the field of Economics, Banking and Finance or Business Administra�on will be treated
as addi�onal qualifica�on for the concerned person.

c) In respect of service, the concerned person should have excellent track record of performance.

d) Sa�sfac�on should be ensured that the concerned person was not dismissed from service when he
was chairman/director/official of any company

e) Any director of any bank or financial ins�tu�on or any person who has business interest in the
concerned bank will not be eligible for appointment to the post of the CEO

3. Transparency and financial integrity: Before making appointment as a CEO, sa�sfac�on should be
ensured to the effects that:

a. The concerned person was not involved in any illegal ac�vity while performing du�es in his own or
banking profession

b. He has not deferred payment to creditors or has not compromised with his creditors to be relieved
from debts or he is not a loan defaulter Complied

c. He is not a tax defaulter

d. He has never been adjudicated a bankrupt by the Court.

4. Age Limit: No person crossing the age of 65 years shall hold the post of CEO of a bank.

5. Tenure: The tenure of the CEO shall not be more than 03 (three) years, which is renewable. If the
Complied
candidate has less than 3 years le� to a�ain 65 years, he/she can be appointed for that shorter period

6. Guidelines in fixing the salary and allowances: Banks are required to follow the guidelines stated
below while determining the salary and allowances of the CEO and submi�ng such proposal to
Bangladesh Bank:
a. In fixing the salary and allowances of the CEO, financial condi�on, scope of opera�on,
business-volume and earning capacity of the bank; qualifica�ons, achievement of the candidate in
the past, age and experience and the remunera�on paid to the persons occupying same posi�on in
the peer banks shall have to be taken into considera�on.

b. Total salary shall be comprised of direct salary covering ‘Basic Salary’ and ‘House Rent’ and
allowances as ‘Others’. The allowances (e.g., provident fund, u�lity bill, leave-fare assistance) in
‘Others’ head should be specified in amount/ceiling. Besides, other facili�es (e.g., car, fuel, driver
etc.), as far as possible, shall have to be converted in the monetary value and thus determining
monthly total salary, it shall have to be men�oned in the proposal submi�ed to Bangladesh Bank.
In the proposal, Basic Salary, House Rent, Fes�val Allowance, other allowances and other facili�es
shall have to be specified in Taka amount Complied

c. Total salary shall be comprised of direct salary covering ‘Basic Salary’ and ‘House Rent’ and
allowances as ‘Others’. The allowances (e.g., provident fund, u�lity bill, leave-fare assistance) in
‘Others’ head should be specified in amount/ceiling. Besides, other facili�es (e.g., car, fuel, driver
etc.), as far as possible, shall have to be converted in the monetary value and thus determining
monthly total salary, it shall have to be men�oned in the proposal submi�ed to Bangladesh Bank.
In the proposal, Basic Salary, House Rent, Fes�val Allowance, other allowances and other facili�es
shall have to be specified in Taka amount

d. Terms of salary-allowances and other facili�es as specified in the terms and condi�ons of
appointment cannot be changed during the tenure. In case of renewal, proposal may be made for
re-fixa�on of the salary considering the work performance of the current CEO.

e. The CEO so appointed shall not get any other direct or indirect facili�es (e.g., dividend,
commission, club expense, etc.) other than the salary-allowances and other facili�es as
enumerated in clause (b) above

f. The bank shall not pay any income tax for the CEO, i.e., the CEO so appointed shall have to pay it.
7. Incen�ve Bonus: The CEO will get incen�ve bonus subject to paying incen�ve bonus to all
execu�ves/officers/workers of the bank and the said bonus amount will not exceed BDT 1,000,000 in a Complied
year
8. Honorarium for a�ending the Board Mee�ng: Being a salaried execu�ve, CEO will not get any
Complied
honorarium for a�ending the Board mee�ng or Board formed Commi�ee mee�ng.

146
SL No. Par�culars Compliance Status

9. Evalua�on Report: For reappointment of the CEO, the Chairman of the bank shall have to submit a N/A [Managing
Board approved evalua�on report to Bangladesh Bank. Director & CEO is
con�nue his first �me
appointment]

Prior Approval from Bangladesh Bank: Prior approval from Bangladesh Bank is mandatory before
10.
appoin�ng CEO as per sec�on 15(4) & (5) of Bank Company Act 1991 (amended up to 2018). For
processing such approval, along with the proposal signed by the Chairman of the Board, the selected Complied
person’s complete resume, offer le�er (men�oning the direct & indirect remunera�on and facili�es)
and copy of Board’s approval must be submi�ed to Bangladesh Bank. The selected person must also
submit declara�ons as per Annexure Ka& Annexure Kha to Bangladesh Bank.

11. Decision of Bangladesh Bank is final: The decision of Bangladesh Bank regarding appointment of the
CEO will be treated as final and such appointed CEO cannot be dismissed, released or removed from Complied
his/her office without prior approval from Bangladesh Bank.

B Responsibili�es and Authori�es of the CEO: The CEO of the bank, whatever name called, shall
discharge the responsibili�es and exercise the authori�es as follows:
a. In terms of the financial, business and administra�ve authori�es vested upon him by the Board, the
CEO shall discharge his own responsibili�es. He shall remain accountable for achievement of
Complied
financial and other business targets by means of business plan, efficient implementa�on thereof
and prudent administra�ve and financial management.

b. The CEO shall ensure compliance of the Bank Company Act 1991 and other relevant laws and
Complied
regula�ons in discharging of rou�ne func�ons of the bank.

c. The CEO shall include clearly any viola�on from Bank Company Act 1991 and/or other relevant laws
and regula�ons in the “Memo” presented to the mee�ng of the Board or any other Commi�ee (s) Complied
engaged by the Board.

d. The CEO shall report to Bangladesh Bank of issues in viola�on of the Bank Company Act 1991 or of
other laws/regula�ons.
e. The recruitment and promo�on of all staffs of the bank except those in the two �ers below him/her Complied
shall rest on the CEO. He/she shall act in such cases in accordance with the approved service rules
on the basis of the human resources policy and approved delega�on of employees as approved by
the Board.

f. The authority rela�ng to transfer of and disciplinary measures against the staff, except those at two
�ers below the CEO, shall rest on him/her, which he/she shall apply in accordance with the
Complied
approved service rules. Besides, under the purview of the human resources policy as approved by
the Board, he/she shall nominate officers for training etc.

3. Contractual appointment of Advisor and Consultant

A Rules and regula�ons for appointment of an Advisor

1. Experience and Suitability: For appointment as advisor, the concerned person will have to fulfill the
following requirements with regard to experience and qualifica�ons:
a. Experience in Banking or Administra�on for at least 15 (fi�een) years or have a long experience in
social ac�vi�es.
b. Higher academic educa�on in the field of Economics, Banking and Finance or Business
Administra�on will be treated as addi�onal qualifica�on for the concerned person. N/A [No such advisor
appointed by Bank]
c. Sa�sfac�on should be ensured that the concerned person was not dismissed from his service when
he was Chairman/ Director/ Execu�ve of any company.
d. The person who is working in any bank or financial ins�tu�on or who has business interest in that
bank will not be eligible for appointment to the post of Advisor.
e. Sa�sfac�on should be ensured that the concerned person is not a loan defaulter or tax defaulter
and has never been adjudicated a bankrupt by the Court.
2. Responsibili�es of the Advisor: The roles and responsibili�es of the Advisor should be defined
specifically. The Advisor can advise the Board of Directors or CEO only on those ma�ers specified in the
appointment le�er. The rou�ne and general ac�vi�es of the bank will not be included in his terms of N/A [No such advisor
reference. He will not be en�tled to exercise any power or involved himself in the decision making appointed by Bank]
process of financial, administra�ve, opera�ons or other ac�vi�es of the bank.

147
SL No. Par�culars Compliance Status

Prior approval from Bangladesh Bank: Prior approval from Bangladesh Bank is mandatory before
3. appoin�ng an Advisor. For such appointment, the jus�fica�ons of the post of advisor, responsibili�es or
terms of reference, complete resume of the concerned person, terms of appointment (men�oning N/A [No such advisor
remunera�on and facili�es) and copy of Board’s approval shall be submi�ed to Bangladesh Bank. The appointed by Bank]
nominated person has to make a declara�on as per Annexure A. This declara�on shall also be
submi�ed to Bangladesh Bank.

4. Remunera�on and other facili�es of Advisor: The post of Advisor is not a fixed or substan�ve post in
the bank’s organiza�on structure. Advisor will not be en�tled to salaries and allowances as regular N/A [No such advisor
employee except gross amount of remunera�on, transport and telephone facili�es. Remunera�ons appointed by Bank]
inconsistent with the terms of reference of the advisor will not be considered as acceptable to
Bangladesh Bank.

5. Tenure of Advisor: The tenure of the Advisor shall be maximum 01(one) year, which is renewable. An N/A [No such advisor
evalua�on report (by the Chairman that is approved by the Board) of previous tenure should be appointed by Bank]
submi�ed to Bangladesh Bank along with the re-appointment proposal.

6. Appointment of Ex-officials: For ensuring good governance, any former Director, CEO or any other Complied [Ex.
Execu�ve of the bank will not be eligible to become an Advisor in the same bank immediately a�er Managing Director
their re�rement or resigna�on. However, a�er one year from such re�rement or resigna�on, he/she was not pointed as
will be eligible for appointment as Advisor advisor who re�re
from service on
March 31, 2021
B Rules and regula�ons for appointment of a Consultant
1. Terms of reference of Consultant: Consultant can be appointed for specialized tasks like tax, law and
N/A[No such
legal procedures, engineering and technical works, informa�on technology, etc. Consultants’
consultant appointed
appointment should be avoided as much as possible for those works that could be done by regular
by Bank]
employees of the bank.

2. Responsibili�es of a Consultant: The responsibili�es or terms of reference of a Consultant should be

specified. He/she should not be involved in any ac�vi�es beyond his/her terms of references and N/A[No such
he/she cannot exercise any kind of power in bank opera�on or cannot par�cipate in the decision consultant appointed
making process. by Bank]

3. Appointment of a Consultant: A Consultant can be appointed with the approval of the Board. A�er N/A[No such
Such appointment the bank shall send the Consultant’s complete resume, terms of reference and consultant appointed
details of remunera�on to Bangladesh Bank immediately. by Bank]
4. Tenure of a Consultant: The tenure of a Consultant should be consistent with the terms of reference,
but would not exceed 02 (two) years. Generally the Consultant will not be eligible for re-appointment.
N/A[No such
But to complete the unfinished tasks, his contract may be extended for maximum period of 01 (one)
consultant appointed
year with the approval of Bangladesh Bank. The Chairman of the bank upon approval of the Board shall
by Bank]
have to submit the extension proposal to Bangladesh Bank with the evalua�on report of his previous
tenure.

5. Remunera�on/Honorarium of a Consultant: The Consultant’s remunera�on should be in the form of N/A[No such consultant
monthly or single lump-sum payment and he is not en�tled to any other facili�es appointed by Bank]

6. Appointment of Ex-officials: For ensuring good governance, any former Director, CEO or any other Complied [Ex.
Execu�ve of the bank will not be eligible for appointment as a Consultant in the same bank immediately Managing Director
a�er their re�rement or resigna�on. However, a�er one year from such re�rement or resigna�on, he/ was not pointed as
she will be eligible for appointment as a Consultant. consultant who
re�re from service
on March 31, 2021]

148
 RISK MANAGEMENT REPORT-2021
Addressing risk management in the context of current challenges is a complex ma�er and is a func�on of appropriate policies, procedures and
organiza�onal culture. Since risk is an inherent issue in all business opera�ons, banks and other financial sectors have always been exposed to
certain types of risks that need to be iden�fied, analyzed, monitored, and properly executed by an efficient and effec�ve way of manner. Risk
management func�ons of NRBCB deal with these issues in such a way that all the inherent material risks are recognized and measured to exercise
appropriate control mechanism.
NRBCB (NRB Commercial Bank) is con�nuing its prac�ce of giving the maximum effort for ensuring full compliance with the guidelines and policies
of Bangladesh Bank and other regulators, and adop�ng the best industry prac�ces for increasing the efficiency and effec�veness of its risk manage-
ment infrastructure, so the Bank can aptly iden�fy and implement the op�mal risk exposure level and management strategy in these uncertain
�mes to keep the projected risk impact at the minimal level possible. Structured Risk Management prac�ce has become an important tool for
financial ins�tu�ons because it empowers the organiza�on with the necessary solu�ons that are proper in the context of its risk environment and
that it can efficiently iden�fy and deal with poten�al risks �mely and in a cost effec�ve manner.

Top risks faced by Banking Industry during 2021

Pandemic Risk Business Interference Risk

Covid-19 has had a nega�ve impact on bank's revenue Business Interference refers to the unprecedented events or
mainly due to the reduc�on in bank's income. Managing the emerging challenges that might put the bank in a insecure
pandemic risk to safeguard both business and humen state while adap�ng to the new work environment.
resource was given the highest priority.

Health and Safety Risk Credit Risk

NRBCB gave the utmost priority to ensure the safety and Credit risk refers to the poten�al loss to the bank due to the
security of its workforce during the pandemic crisis and to failure of borrower(s) to meet their obliga�ons and NRBC
manage other health and safety related issues. con�ned to adopt �mely, proper safeguards to tackle Credit
Risk related issues.

Fraud and Embezzlement Risk Cybersecurity Risk

Fraud and Embezzlement Risk is the risk of unexpected Cybersecurity risk is the probability of exposure or loss
financial, material, or reputa�onal loss as a result of fraudu- resul�ng from a cyber a�ack or data breach resul�ng the
lent ac�ons of persons both internal or external to the the� of poten�al financial or sensi�ve data or the loss of
organiza�on. monetary value of the organiza�on.

Risk Governance and Risk Culture:

Risk governance means the applica�on of the principles of good governance to iden�fy, assess, manage and communicate relevant risks to the
organiza�on to related par�es to adopt proper solu�ons. It also refers to the ins�tu�ons, rules, conven�ons, processes and mechanisms by which
decisions about risk management are taken and implemented. Risk governance provides the structure within which the risk management infrastruc-
ture operates in an organiza�on.

Organiza�onal Risk culture is one of the key elements of effec�ve risk management process. It refers to an ins�tu�on wide approach, in which every
member of the ins�tu�on is fully aware of the risks associated with his or her assigned organiza�onal role and is also aware of their responsibility
in the risk management process. Bank believes that risk management is not a func�on overseen by people specifically engaged in risk management
ac�vity but a holis�c approach across the bank, where the bank endeavors to create an open and respec�ul environment for discussing risk issues,
encouraging all employees to speak up and draw a�en�on to all relevant risks for developing a coherent, relevant and vibrant risk culture.

Risk Management Framework:

According to the Risk Management guidelines for Banks issued by Bangladesh Bank through DOS circular le�er No. 04, October 08, 2018, Risk
Management Division works as the central hub of Risk Management Process. So, the achievement and progress in managing banking risks largely
depend on the strength and empowerment of the Risk Management Division. NRBCB has adopted a well-defined, structured approach to setup the
Risk Management process of the Bank in line with Bangladesh Bank guidelines. The process is mul�-�red, as shown below:

Establish Analyzing Treat the

the context Risks Risks

Communicate Iden�fying Evalua�ng Monitor

and Consult Risks Risks the Risks

150
Risk management division proac�vely iden�fies risks which arises from transac�on level as well as at por�olio level to ensure efficient usage of
capital, suggests measures and mi�gates that can eliminate or reduce the iden�fied risks, and puts in place a monitoring system to ensure manage-
ment is aware of the risks. Func�onally, risk management process is accomplished at strategic level, managerial level and at opera�onal level.

LAYER COMMITTEE/ DIVISION ROLES AND RESPONSIBILITIES

• Reviews various risk related reports such as MRMR, CRMR, CRAR, and
opined their views and provide sugges�ons to CRO and other concerned
divisions;
• Providing the Board with greater oversight and advice on the risk
management and compliance frameworks;
• Strengthening the governance, effec�veness and resourcing of the risk
management and compliance frameworks;
Board Risk Management • Review the overall risk management ac�vi�es concerning Core risk
STRATEGIC LAYER
Commi�ee (BRMC) analysis report, Risk Indicators, S�mulus Package customer monitoring
report, and NPL Status of the Bank;
• Endorses risk strategies, reviews and approve risk policies.
• Se�ng limits of risks to be taken in line with bank's risk appe�te;
• Con�nuous monitoring of risk limits by risk management team and
overseen by Management level risk commi�ee;
• Monitoring the due execu�on of core risk management policy and
principles.

• Implementa�on of policies and strategies formulated by Board of

Directors;
• Developing policies and procedures for iden�fying, measuring, and
managing Bank’s exis�ng and poten�al risks through core risk analysis;
• Providing appropriate resources to evaluate and control risk;
Execu�ve Risk Management
• Reviewing risk reports on a regular and �mely basis;
Commi�ee (ERMC)
• Reviewing prospec�ve risks through brainstorming with staffs or external
MANAGERIAL LAYER stakeholders and iden�fica�on of an�cipated issues or risks
• Providing all reports required by the Board and its commi�ees for the
effec�ve performance of risk management oversight func�ons.

• Review the bank’s overall capital adequacy along with market risk,
liquidity risk, and credit risk in line with its risk profile;
Supervisory Review • Ensure that the bank has an internal process to iden�fy and assess all
Process (SRP) relevant risks of the bank;
• Ensure that capital is adequately allocated against the ICAAP outcome;
Risk Management Division (RMD) has been established on 2013 as per the
instruction of Bangladesh Bank, headed by the Chief Risk Officer for overall
supervision of risk management of banks.

To ensure effective and smooth trade-off between risk-return and manage

OPERATIONAL LAYER Risk Management the overall risk management activities more efficiently and effectively, RMD
Division (RMD) of the bank reviewed NRBCB Risk Management policy which has been
placed and approved in December 2021 at the 132nd Board meeting.

Ensuring effective implementation of Risk Based Capital Adequacy require-

BASEL Implementa�on Unit
ments under Basel-III.

Three Lines of Defense Model:

NRBC Bank has an effec�ve risk management framework. This framework is designed to protect capital base, reputa�on, revenue and earnings of
the bank without hindering growth. In the three lines of defense model of NRBC Bank, management control is the first line of defense in risk
management, the risk control and compliance oversight func�ons established by NRBCB management are the second line of defense and
independent assurance is the third line of defense. Each of these three “lines” plays a dis�nct role within NRBC Bank’s wider governance framework.
NRBCB follows the three lines of defense model regarding Risk Governance.

151
 1st Line of Defense

2nd Line of Defense

3rd Line of Defense

• Iden�fy, assess, acknowl- • Established Internal Control • Performs bank's general and
edge, and manage business Framework to ensure risk based internal audit.
and opera�onal risks. effec�ve and efficient
opera�ons. • Provides independent
• Escala�ng risk events to the periodic reviews of the first
Risk Management Division • Following up and repor�ng two lines of defense.
(RMD). on risk related issues across
all risk types by Risk • Provides assurance and
• Conducts strategies in Management Unit. ensures the effec�veness of
accordance with the risk bank's policies and
policies and delegated • Compliance with laws, procedures.
mandates. regula�ons, supervisory, and
the ins�tu�on's internal
policies and procedures.

Risk Communica�on and Treatment:

NRBC Bank wants to ensure the balance between risk with return through ensuring effec�ve risk management and establishing healthy organiza-
�onal ethos. As part of risk communica�on, senior management ac�vely communicates the different policies, procedures, rules as well as the roles,
responsibili�es, accountabili�es to the risk owners. This communica�on process ensures that employees dealing with risk are well informed about
the risk associated with their ac�vi�es and know their responsibili�es regarding the risk management processes. Risk treatment op�ons are not
necessarily unique in all circumstances. It depends on scenario and ins�tu�ons strategy. Based on the scenario, bank takes different risk treatment
op�ons, e.g. avoiding, accep�ng, reducing, and sharing.

Avoidance

Acceptance

Risk
Treatment
Reduc�on

Transfer/Sharing

Risk Management Tools:

A. Guidelines, Processes and Standards:
NRBCB is always focused on the effec�ve use of its guidelines, processes, and standards as a measure of Risk Management tools. Guidelines provide
the bank with necessary op�ons to determine the course of ac�on in terms of mi�ga�ng risks. Guidelines may change from �me to �me, due to
market or other circumstances. RMD determines the processes and standards using various policies and procedures to iden�fy, evaluate, monitoring
and controlling risks.

152
 Guidelines Processes Standards

Guidelines ensure the The processes ac�vi�es Standards are developed

Bank has the appropriate are associated with the on an enterprise-wide
knowledge of its clients, iden�fica�on, evalua�on, basis, and documented in
products, and markets documenta�on, repor�ng a series of policies,
and that it fully under- and controlling risk. manuals and handbooks
stands the risks associat- under the preview of Risk
ed with the business it Management Division.
underwrites.

B. Risk Appe�te: ii. CRMR & MRMR Report:

Applica�on of the risk appe�te statement and monitoring of the Comprehensive Risk Management Report (CRMR) & Monthly Risk
key risk appe�te measures help to ensure that the bank stays Management Report (MRMR) mainly Iden�fies, monitors, and
within appropriate risk boundaries. NRBCB Board and Manage- evaluates credit risk, market risk, opera�onal risk, liquidity risk,
ment is focused construc�ng the appropriate on the credit risk reputa�on risk, bank’s shock resilience capacity etc. Risk Manage-
appe�te volume for the bank that takes into account the bank’s risk ment Division (RMD) of NRBCB regularly prepares CRMR on Half
acceptance, risk capacity, risk tolerance, shock resilience, and Yearly basis and MRMR on Monthly basis.
appropriate key risk appe�te measurements. Risk Management
Division of NRBCB prepares Risk Appe�te Statement (RAS) in iii. ICAAP:
collabora�on with concerned division/department while taking
Internal Capital Adequacy Assessment Process (ICAAP) Evaluates
into considera�on various risk and business issues e.g. na�onal
the bank’s preferred risk profile, the actual risks iden�fied, the
economy, monetary policy, bank’s business trend, capital adequacy,
means by which they will be mi�gated, and what risks will be
strategic planning, liquidity and other foreseeable risks.
covered by capital alloca�on. ICAAP is prepared on annual basis
following Bangladesh Bank’s guidelines.
C. Risk Reports:

Risk Management Division of NRBCB regularly prepares different iv. Stress Tes�ng:
risk management reports and submits to the central bank as per
Stress Tes�ng Sheds light on inherent risk exposures and offers
regulatory requirements. Moreover, as a regular ac�vity, RMD
alterna�ve insight into the poten�al severity of nega�ve outcomes
prepare and submit various risk management reports to ERMC, SRP
of different risk parameters. It also evaluates capital and liquidity
Commi�ee and BRMC for review and making of policy decisions.
needs under adverse risk scenarios and examines the se�ng of risk
The concerned reports prepared by RMD of NRBCB are provided
tolerances, and facilitates the forma�on of appropriate con�ngen-
below:
cy plans and is prepared by RMD on Quarterly basis.

i. Minimum Capital Requirement Report:

v. Dura�on Gap Analysis:
According to the Basel-III accord, the Banks are required to
Dura�on Gap Analysis measures interest rate risk, and examines
maintain a minimum Capital to Risk Weighted Assets ra�o (CRAR).
the sensi�vity of the market value of the bank’s net worth (Assets,
It promotes strong capitaliza�on and be�er financial resilience of
loans, or securi�es) to changes in interest rates
banks to resist economic and financial shocks and crises. NRBCB
regularly prepares Basel-III report on half yearly basis in which
required provisions and minimum capital requirement are
described thoroughly.

153
 Status of some Risk Indicators
Risk Areas Dec-2018 Dec-2019 Dec-2020 Dec-2021
Capital to Risk Weighted Asset Ra�o (CRAR) 14.03% 13.40% 12.52% 13.45%
Liquidity Coverage Ra�o (LCR) 148.83% 131.89% 164.95% 132.83%
Net Stable Funding Ra�o (NSFR) 113.80% 107.54% 101.13% 101.59%
Non-Performing Loan (NPL) Ra�o 2.94% 3.20% 2.93% 4.56%
D-Gap of Asset and Liabili�es 0.08 0.33 0.97 0.92
Advance Deposit Ra�o (ADR) 86.02% 82.55% 78.72% 86.81%
Large Loan Concentra�on 45.68% 45.92% 44.25% 36.92%
Top 20 borrower Concentra�on 26.88% 24.36% 21.62% 19.45%
Top-10 deposit suppliers to total deposit (%) 16.34% 12.30% 11.67% 11.65%
High cost deposit to total deposit (%) 71.04% 64.78% 60.01% 50.20%
Opera�ng expenses to opera�ng income (%) 47.19% 48.44% 56.71% 49.98%

RMD of the bank daily monitors various liquidity indicators CRR balance, SLR balance, Cash on hand, branch wise cash and deposit posi�on.
Securi�es remaining for Repo, WB limit and u�liza�on etc. and submit a summary report on ERMC on regular basis. As such, during the year bank
able to maintain all the liquidity ra�os under Core risk guidelines and Basel accords.

29.00

18.93

13.50 13.58 14.03 13.45

13.40 12.52
12.50

2014 2015 2016 2017 2018 2019 2020 2021

CRAR% -BENCHMARK

LCR and NSFR

Liquidity Coverage Ra�o (LCR) and Net Stable Funding Ra�o (NSFR) are two important Liquidity measurement standards under Basel III accord.
RMD monitor the ra�os and submit the posi�on along with necessary observa�ons in ERMC on regular basis.

112.95 113.80
107.54
164.95 101.13 101.59
148.83 100
131.89 132.83
109.30
100

2017 2018 2019 2020 2021 2017 2018 2019 2020 2021
LCR% -BENCHMARK NSFR -BENCHMARK

154
 CREDIT CONCENTRATION
Top 20 Borrowers Concentra�on
This chart depicts NRB Commercial Bank’s last seven (7) year’s fund based exposure to top-20 customers. NRBCB always tried to diversify the credit
por�olio and the corresponding result shows a decreasing trend of top-20 borrowers’ concentra�on which indicates a posi�ve development in
managing the concentra�on risk.

33.51

27.82 28.18
26.88
24.36
21.62
19.45

2015 2016 2017 2018 2019 2020 2021

Top 20 Borrower Concentra�on (in%)

Large Loan Concentra�on

NRBCB always tried to disseminate the loan por�olio rather than focusing solely on only large loans. The bank had primarily focused on SME
sector to mi�gate the build-up of large loan concentra�on. As the chart below depicts, the bank has successfully reduced large loan concentra�on
through increasing investments in other sectors.

45.68 45.92 44.25

43.20
39.81 40.98
36.92
31.29

2014 2015 2016 2017 2018 2019 2020 2021

Large Loan Concentra�on (in%)

Non-Performing Loan (NPL)

Non-Performing Loan (NPL) refers to the un�mely or non repayment of loans by the borrowers. NPL management and bad
loan recovery has always been a fundamental issue in banking sector which has the poten�al to impede the opera�onal
ac�vi�es of banks. NRBCB Board and Management constantly monitor the classified loans status and is ever engaged in trying
to reduce the volume of NPL to minimal level.

The concerted effort of Business units, Credit Risk Management, Special Asset Management, Senior Management, and Recov-
ery Division to keep the loan por�olio healthy has seen the NPL status improve since 2019. NRBCB experienced a decrease in
NPL ra�o in 2021 partly due to the relaxa�on of NPL policy during 2020 as well.

155
 4.56%

3.20%
2.94% 2.93%
2.46%

0.52%
0.27%
0.00%

2014 2015 2016 2017 2018 2019 2020 2021

NPL RATIO

Material Risks and Mi�ga�on Strategy

NRBC Bank conducts its opera�ons by ensuring compliance with not only the Core Risk Management Guidelines but also the risk which includes the
Pillar-II. These are as follows:

Credit Risk Opera�onal Risk

• NRBC Bank’s credit func�ons are conducted in a compliant • Management through three units of ICCD i.e. monitoring,
manner under a strict judicious and ra�onal credit compliance and Audit & Inspec�on controls overall
policies and principles in conformity with Credit Risk Manage- opera�on of the bank.
ment guidelines of Bangladesh Bank. • Board audit co mmi�ee directly oversees the func�ons of
• Determining risk appe�te, risk tolerance, risk limit, MAT for ICCD to prevent opera�onal risk.
different credit risk related areas. • NRBCB constantly seeks to minimize exposure to opera�onal
• Conduc�ng stress test in different areas of credit risk. risk, subject to cost benefit trade-offs.
• Monitoring the asset quality, loans having excess over limit,
recovery from rescheduled loan, crea�on of forced loan etc. Reputa�onal Risk
• Monitor credit concentra�on from different aspects and
• Quan�fy reputa�onal risk by emphasizing on external credit
ensure compliance in line with risk appe�te.
ra�ng.
• Thorough assessment, iden�fica�on, and monitoring of key
Market Risk
risk indicators related to reputa�onal risk.
• Ensuring proper management of investment por�olio and
treasury related ac�vi�es. ICT Risks
• Managing interest rate risk, liquidity risk, and foreign
• As part of ICT risk management bank had introduced “IT
exchange risk faced by the bank.
Security Policy”;
• Conduc�ng Maturity Gap analysis and Dura�on Gap analysis.
• Review of system vulnerability and penetra�on tes�ng
• Risk Profiles are analyzed and mi�ga�ng strategies/processes
results, IT audits to ensure findings are sufficiently addressed;
are suggested by the Asset Liability Commi�ee (ALCO).
• Establish mul�-layered boundary defenses to deploy a securi-
• Monitor the NOSTRO accounts reconcilia�on regularly.
ty wall (fire wall) between the un-trusted external networks;
• Holding of equi�es is monitored regularly so that the
• Monitor access to all systems and maintains access control
investment remains within the limit as set by Bangladesh
profiles on computer network and systems;
Bank.
• Track documenta�on of access authoriza�ons to all resourc-
es;
Liquidity Risk
• IT Assets inventory is adequately maintained and reviewed
• Emphasizing on low cost fund deposit. periodically;
• Maintaining a diversified and balanced loan por�olio to • Develop and/or maintain appropriate segrega�on of du�es
enable adequate liquidity in terms of shareholder’s funds, within and across applica�ons;
debt and capital funds. • Research and inves�gate measures that address data security
• Iden�fying several liquidity key indicators and monitoring risks and poten�al losses for repor�ng purposes;
them on a regular basis. • Install, modify, enhance and maintain data system security
so�ware;
Interest Rate Risk • All changes are managed as per approved policy and process
and also maintains all logs/forms;
• Bank measures effect of interest rates in two perspec�ves;
• Arrange different programs to enhance the Informa�on/Cy-
Earnings perspec�ve: Gap analysis is used to measure the
ber security awareness programs for employees and custom-
impact of interest rate on net interest earnings.
ers;
Economic value perspec�ve: Dura�on gap analysis is used to
• Review system logs for the Bank’s infrastructure to iden�fy
measure the impact of interest rate on market value of equity.
trends. Inves�gate abnormali�es and excep�ons to the Bank’s
Informa�on Security Program;
• Plan for proper disaster management related to ICT services;
• Establish an IT governance framework inside the bank.

156
Asset Liability Management Risk
• The Board of Directors regularly monitors the effec�veness of
• Iden�fying risks that arise from the composi�on and dynam-
the internal control system of the Bank.
ics of the balance sheet, specifically in their impact on liquidi-
• The Audit commi�ee meets the senior management periodi-
ty, earnings a n d
cally to discuss the effec�veness of the internal control
adequacy of Capital.
system of the bank and ensures that the management has
• Iden�fying risks that arise from the actual management
taken appropriate ac�ons as per the recommenda�ons of the
process, specifically with regard to: the roles and responsibili-
auditors and the Internal Control
�es of senior management; the �mely availability and quality
and Compliance Division (ICCD).
of opera�onal informa�on; and the ability to interpret
• The significant deficiencies iden�fied by Internal Control
informa�on, plan appropriately,
team are reported to the Audit Commi�ee of the Board.
and to execute those plans.
• At the begging of each year ICCD prepare a plan to conduct
• Monitored the Regulatory Liquidity Indicators to ensure
audit of branches and various departments.
healthy liquidity posi�on. The ra�os are LCR, NSFR, MCO,
• Internal audit & inspec�on team conduct surprise inspec�on
MTF, ADR etc.
(if deemed).
• Analyzing risks that arise from day-to-day treasury
opera�ons, specifically in front-office investment and trading
Money Laundering Risk
ac�vi�es, middle-office monitoring and in back-office
se�lements and recording • Developing policies, procedures, and controls to reduce the
• Conduc�ng Gap analysis and Dura�on gap analysis to risk of money laundering,
measure the impact of interest rate change on earnings and • Apply a risk-based approach to detect and prevent money
market value of equity. laundering. Understand the level of risk associated with
individual business rela�onships and transac�ons.
Internal Control and Compliance Risk • Making appropriate risk-based decisions about customers
and employees.
• Provide an independent assessment of the adequacy of the
To prevent money laundering ac�vi�es, NRBC Bank took
risk management processes and compliance with risk policies
various ini�a�ves but not limited to:
and
• Every year MD & CEO conveys a special message that clearly
regulatory guidelines.
sets forth the way forward for the present year and shares the
• Ensure maintenance of system of internal controls and
ini�a�ves taken in the last year pertaining to comba�ng
compliance with laws and regula�ons, internal procedures
Money Laundering and Terrorist Financing.
and guidelines.
• Bank has a CAMLCO and a DCAMLCO in place as per instruc-
• Support and maintain the independence of the internal and
�ons of BFIU.
external audit func�ons.
• Bank has nominated Branch An� Money Laundering Compli-
The way Bank ensure compliance culture
ance officer (BAMLCO) at every branch to ensure AML & CFT
compliance culture throughout the bank.
• There have an elaborate Audit Charter in place to ensure
• Monitor, review and verify the account transac�ons regularly
transparency, accountability and authen�city in the audit
and prepare Suspicious Transac�ons Reports (STR) and Cash
process.
Transac�ons Report (CTR).
• The audit teams can access any informa�on across the bank
• AML & CFT training is conducted on a regular basis to ensure
and en�tled to make any query deems fit during the
that all the employees are well aware about their ac�vi�es in
execu�on of the
light with the related policies, guidelines and instruc�ons.
audi�ng.

157
 MARKET DISCLOSURE PILLAR III OF BASEL-2021
Disclosures on Risk Based Capital (Basel III) For the Year Ended December 31, 2021

1. Introduc�on i) Scope of applica�on

The public disclosure of pruden�al informa�on is an important component NRB Commercial Bank Ltd. (NRBC Bank) applies capital adequacy
of Basel Commi�ee on Banking Supervision’s framework of capital framework for both solo and consolidated basis. The Bank has one
measurement and capital adequacy, known as Basel III. In response to the subsidiary company named NRB Commercial Securi�es Limited
global financial crisis 2008, Basel Commi�ee for Banking Supervision (NRBCSL), Bangladesh Bank had given permission for opera�ng the
(BCBS) came up with a new set of capital and liquidity standards in the subsidiary in 2015.
name of Basel III in 2010. To cope up with the interna�onal best prac�ces ‘Solo Basis’ refers to all posi�on of the NRB Commercial Bank Ltd. Includ-
and to make the bank’s capital shock absorbent Bangladesh Bank (BB) ing its local and overseas branches and Off Shore Banking unit.
issued Guidelines on Risk Based capital adequacy (a revised regulatory
capital framework for banks in line with Basel III) in December 2014. ‘Consolidated Basis’ refers to all posi�on of the NRB Commercial bank
Bangladesh Bank has specified the standard of disclosure through (including its local and overseas branches) and its subsidiary company
Guidelines on Risk Based Capital Adequacy (December 2010) which revised NRBCSL.
in Basel III Guideline on December 2014 with effect from January 2015
ii) Capital structure
The objec�ves of the market discipline process in the revised framework are Qualita�ve disclosure
to establish more transparent and more disciplined financial market The composi�on of a bank’s regulatory capital is different from a bank’s
analysis, so that stakeholders can assess the posi�on of the bank regarding accoun�ng capital. The terms and condi�ons of the main features of
holding of asset and capital adequacy to meet any probable loss of assets. capital instruments, especially, eligibility for inclusion in Common Equity
In compliance with BRPD circular no. 18 dated December 21, 2014 on Tier-1 (CET1), Addi�onal Tier-1 and Tier-2 have been prepared based on
‘Guidelines on Risk Based Capital Adequacy’ following detailed quan�ta�ve the ‘Guidelines on Risk Based Capital Adequacy’ and other instruc�on
and qualita�ve disclosures are provided covering scope of capital adequacy given by Bangladesh Bank.
framework, risk exposure and assessment methodologies, risk manage-
ment and mi�ga�on strategies, and capital adequacy of the bank, etc. Tier-1 capital of NRBC BANK consists of Common Equity Tier-1 and
Addi�onal Tier-1 capital. Tier-1 capital is also known as going concern
2. Disclosure Policy capital as it allows a bank to con�nue its ongoing ac�vi�es. Common
Equity Tier 1 (CET1) capital of NRBC BANK consists of paid up Capital,
These disclosures provide informa�on to market par�cipants for assess-
Statutory reserve, General reserve, Retained earnings and Minority
ing the status of the bank’s exposure to various risks and provide a
interest in subsidiaries a�er ne�ng regulatory adjustments applicable
consistent and understandable disclosure framework for easy compari-
on CET1 as men�oned in RBCA guideline.
son among banks opera�ng in the same market. The report is prepared
once a year and is available in the banks website a(h�ps://www.nrb- Tier-2 capital is also known as Gone-Concern Capital, is the Capital
commercialbank.com). which will absorb losses only in a situa�on of liquida�on of the bank.
Tier-2 capital of NRBC BANK comprised of General Provisions, Subordi-
3. Components of Disclosure Framework nated Debt and revalua�on reserve.
As defined and by the BASEL III guidelines, informa�on on the following
ra�os and factors are required to be calculated, assembled and provided:

i) Scope of applica�on ii) Capital structure iii) Capital adequacy iv) Credit
risk v) Equi�es disclosures for banking book posi�ons vi) Interest Rate
Risk in the Banking Book (IRRBB) vii) Market risk viii) Opera�onal risk ix)
Leverage ra�o x) Liquidity ra�o xi) Remunera�on.

Quan�ta�ve disclosure
BDT Crore
Par�culars Solo Consolidated
Common Equity Tier-1:
Paid Up Capital 737.64 737.64
Statutory Reserve 246.72 247.10
Retained Earning 187.94 205.68
Minority Interest In Subsidiaries 0.00 6.01
Regulatory Adjustments:
Deferred Tax Assets (DTA) 64.26 64.26
Total Common Equity Tier-1 1108.04 1132.17
Addi�onal Tier-1:
Total Tier-1 Capital 1108.04 1132.17
Tier-2 Capital:
General Provisions 198.89 200.87
Subordinated Debt 300.00 300.00
Regulatory Adjustments:
Total Tier-2 Capital 498.89 500.87
Total Regulatory Capital 1606.93 1633.04

158
COMPOSITION OF REGULATORY CAPITAL (SOLO) COMPOSITION OF REGULATORY CAPITAL (CONSOLIDATED)

Paid up Capital 42.50% Paid up Capital 41.87%

Subordinated debt 17.29% Subordinated debt 17.03%
Statutory Reserve 14.22% Statutory Reserve 14.03%
General Provisions 11.46% Retained Earning 11.68%
Retained Earning 10.83% General Provisions 11.40%
Regulatory Adjustment 3.70% Regulatory Adjustment 3.65%
Minority interest in Subsidiaries 0.34%

iii) Capital adequacy

Qualita�ve disclosure
NRBC Bank focuses on strengthening the risk management and control environment over increasing capital annually, as part of this may arise from
any inefficient risk management, control and compliance processes and procedures, which, if applied properly, may reduce the need for addi�onal
equity by yielding be�er risk indicators and lower capital requirement. The Bank effec�vely manages its capital to meet the regulatory require-
ment for capital arising from its annual business growth and the required risk profile needed to generate the growth.

The Bank follows following approaches for calcula�ng Risk Weighted Asset (RWA) as per Basel-III guidelines stated in BRPD Circular No.18 dated
December 21, 2014 of Bangladesh Bank:

• Standardized approach for Credit risk

• Standardized approach for Market risk
• Basic indicator approach for Opera�onal risk

Quan�ta�ve disclosure BDT Crore

Par�culars Solo Consolidated

Capital Requirement For Credit Risk 1047.73 1053.70

Capital Requirement For Market Risk 64.38 66.06
Capital Requirement For Opera�onal Risk 82.68 83.43
Total Capital Requirement 1194.83 1203.19
Total Eligible Capital 1606.93 1633.04
Capital To Risk Weighted Asset Ra�o (CRAR)(%) 13.45 13.57
Common Equity Tier-1 Capital Ra�o (%) 9.27 9.41
Total Tier-1 Capital Ra�o (%) 9.27 9.41
Total Tier-2 Capital Ra�o (%) 4.18 4.16
Capital Conserva�on Buffer (2.5% OF RWA) 3.27% 3.41%
Available Capital For Pillar II Requirement 412.10 429.85

DISTRIBUTION OF RISK WEIGHTED ASSETS (SOLO) CAPITAL TO RISK WEIGHTED ASSET RATIO (CRAR) SOLO

13.45%

9.27%

4.18%

Credit Risk 87.73% Tier-1 Ra�o Tier-2 Ra�o CRAR

Opera�onal Risk 6.90%
Market Risk 5.37%

159
The Bank has fully complied with all the required condi�ons for The Capital requirement for credit risk is based on the risk assessment
maintaining regulatory capital as s�pulated in the revised RBCA made by External Credit Assessment Ins�tu�ons (ECAIs) recognized by
guidelines by Bangladesh Bank Bangladesh Bank for capital adequacy purposes. The Bank assigned risk
weights to all their on-balance sheet and off-balance sheet exposures.
Banks’ Capital Posi�on Risk weights are based on external credit ra�ng which mapped with the
Bangladesh Bank ra�ng grade or a fixed weight that is specified by
In line with the business growth and the subsequent risk profile of the
Bangladesh Bank.
bank, the bank management effec�vely manages its capital to ensure
Credit Risk Management Processes in NRBC Bank encompasses with the
full compliance with all the regulatory requirements. Some of the
following steps:
regulatory requirements regarding Capital management are given:
• Currently the Bangladesh Bank prescribed Minimum Capital
Credit Risk Iden�fica�on
Adequacy Ra�o (MCR) is 10%, whereas as on December 2021 the
CRAR of the bank was 13.45%. • Cri�cal analysis and review of delinquent accounts to iden�fy
• During the same period Minimum Capital Requirement (MCR) of weakness in credit.
the bank was BDT 1194.83 crore (solo basis) and eligible capital was • Credit risk for the counterparty arises from an aggrega�on of the
BDT 1606.93 crore; i.e. the bank held BDT 412.10 crore surplus following: Financial Risk, Business/Industry Risk, Security Risk,
capital. Management Risk

Reduc�on of Capital Requirement through increasing the number of Credit Risk Assessment and Measurement
Rated Clients:
• Use of credit risk ra�ng system to grade the quality of borrowers.
As per Basel-III norms capital adequacy i.e. maintaining buffer capital is Collec�on the Credit Informa�on Bureau (CIB) report of the
compulsory for banks to absorb any possible financial loss arising from poten�al borrower from the Central Bank.
the financial ac�vi�es and unexpected market condi�ons. Under the • Stress Tes�ng of loan por�olios under various scenarios. Ensuring
Standardized Approach of the RBCA guidelines of Basel-III, counterpar- Credit Ra�ng of the Customer from External Credit Ra�ng
�es credit ra�ng are determined on the basis of risk profile assessed by Agencies.
the External Credit Assessment Ins�tu�ons (ECAIs) duly recognized by
Bangladesh Bank to derive risk-weights of exposures under the por�olio Credit Risk Control
of claims. According to the guideline, the rated exposures of a bank will
• Credit Policy which documents the credit risk ra�ng collateral
reduce the Risk Weights and the regulatory capital requirement as well
policy and policies on rehabilita�on and restructuring of problem-
as create the room to expand the business of the bank. This will also
a�c and delinquent loans.
enable the bank to assess the creditworthiness of the borrowers as well,
• Efficient credit personnel to deal with the credit approval, process-
to an acceptable level.
ing and review.
The Board of Directors & the Senior Management, agreed with the
Credit Risk Monitoring
decisions taken in the BRMC, ERMC and SRP Commi�ee on achieving
the highest possible rated exposure in 2021 as would lower our risk • CRMD and SAMD monitor the Credit Risk, and advise the top
profile as well as reduce the capital requirement of the bank. According- management and implement their direc�ves.
ly, the Risk Management Division (RMD), CRMD, SAMD and CAD along • Past due principal or interest payment, past due trade bills,
with the CRO along and the branch managers made an all-out effort to account excesses and breach of loan covenants.
increase the number of rated corporate borrowers and SME borrowers • All loan facili�es are reviewed and approved through the submis-
throughout 2021. The respec�ve divisions and branches constantly took sion of a Credit Applica�on annually.
ini�a�ves through guidance of the Senior Management; which were
then disclosed and discussed in a series of mee�ngs, correspondence, Policies and processes for collateral Valua�on and Management
and awareness programs with the allied concerns i.e. branches of the The NRBC bank has set a policy on Collateral Valua�on and Manage-
bank & ECAIs. As a result of strong persuasion & mo�va�on, the number ment. The bank appoints approved surveyors for valua�on of collater-
of rated clients increased in the year 2021 from 2020. al/securi�es objec�vely. The valua�on methodology that Bank usually
applies are forced sale/fire sale value, fair/market value etc. The Bank
iv) Credit risk creates Legal claims on collateral/securi�es through mortgage, lien,
Credit risk is defined as the probability of failure of counterparty to meet Assignments, hypotheca�on and other legal documenta�on etc.
its obliga�on as per agreed terms and condi�ons. Banks are very much
prone to credit risk due to its core ac�vi�es i.e. lending to corporate, Eligible Collateral:
commercial, SME, retail, another bank/FI or to another country. The As per Bangladesh bank guidelines following items will be included as
main objec�ve of credit risk management is to minimize the nega�ve eligible collateral in determining base for provision:
impact through adop�ng proper mi�gates and also limi�ng credit risk • 100% of deposit under lien against the loan
exposures within acceptable limit. • 100% of the value of government bond/savings cer�ficate under
lien
The Board approved the credit policy in accordance with relevant • 100% of the value of guarantee given by Government or Bangla-
Bangladesh Bank guidelines to ensure best in prac�ce in credit risk desh Bank
management and maintain quality of assets. Proper delega�on of • 100% of the market value of gold or gold ornaments pledged with
authority ensures effec�ve check and balance in credit opera�on at the bank.
every stage i.e. screening, assessing risk, iden�fica�on, management • 50% of the market value of easily marketable commodi�es kept
and mi�ga�on of credit risk as well as monitoring, supervision and under control of the bank
recovery of loans with provision for early warning system. There is a • Maximum 50% of the market value of land and building mortgaged
separate Credit Risk Management Division for ensuring proper risk with the bank
management of Loans and Credit Administra�on Division for monitoring • 50% of the average market value for last 06 months or 50% of the
and recovery of irregular loans. Adequate provision is maintained face value, whichever is less, of the shares traded in stock
against classified loans as per Bangladesh Bank guidelines. Statuses of exchange.
loans are regularly reported to the Board through Risk Management
Paper.

160
Impaired Credit:
To define past due and impairment for classifica�on and provisioning, the bank follows Bangladesh Bank Circulars and Guidelines. The summary of
some objec�ve criteria for loan classifica�on and provisioning requirement as s�pulated by the central bank, BRPD circular no. 14 dated 23 Septem-
ber 2012, BRPD circular no 8 dated 2 August 2015, BRPD circular no 12 dated 20 August 2017, BRPD circular no 15 dated 27 September 2017, BRPD
circular le�er no 1 dated 03 January 2018 and BRPD circular no 01 dated 20 February 2018, BRPD circular no 07 dated 21 June 2018, BRPD circular
no 13 dated 18 October 2018 and BRPD Circular no. 03 dated 21 April 2019, BRPD Circular no. 04 dated 19 March 2020, BRPD Circular no. 07 dated
19 March 2020, BRPD Circular no. 16 dated 21 July 2020, BRPD Circular no. 17 dated 28 September 2020, BRPD Circular no. 52 dated 20 October
2020, BRPD Circular no. 56 dated 10 December 2020, BRPD Circular no. 59 dated 30 December 2020, BRPD Circular no. 63 dated 31 December 2020,
BRPD Circular no. 03 dated 31 January 2021, BRPD Circular no. 05 dated 24 March 2021, BRPD Circular no. 13 dated 27 June 2021, BRPD Circular no.
19 dated 26 August 2021, BRPD Circular no. 50 dated 14 December 2021, BRPD Circular no. 51 dated 29 December 2021, BRPD Circular no. 52 dated
29 December 2021, BRPD Circular no. 53 dated 30 December 2021. The summary of some objec�ve criteria for loan classifica�on and provisioning
requirement is as below

Loans Classifica�on

Type of Facility Substandard Doub�ul Bad & Loss

Overdue Period Overdue Period Overdue Period

Con�nuous Loan 3 months or more 9 months or more but 12 months or more

and Demand Loan but less than 9 less than 12 months
months
Fixed Term Loan (*) 3 or more 9 or more 12 or more
but less than 9 equal but less than 12 equal equal monthly installment
monthly installment monthly installment
Short Term 12 months or more 36 months or more but 60 months or more
Agricultural & Micro but less than 36 less than 60 months
Credit months

COTTAGE, MICRO AND SMALL CREDIT

Con�nuous Loan 6 months or more 18 months or more but 30 months or more

and Demand Loan but less than 18 less than 30 months
months
Fixed Term Loan (*) 6 or more 18 or more 30 or more
but less than 18 equal but less than 30 equal equal monthly installment
monthly installment monthly installment

*In case of any installment(s) or part of installment(s) of a Fixed Term Loan is not repaid within the fixed expiry date, the amount of unpaid
installment(s) is treated as past due/overdue a�er six months of the expiry date.

Specific Provision for classified loans and general provisions for unclassified loans and advances and con�ngent assets are measured following BB
prescribed provision rates

General Provision On:

Unclassified Small and Medium Enterprise 0.25%
Unclassified Loans For Housing Finance and Unclassified Short Term Agri. Credit And Micro Credit 1%
Loans To Bhs/MBS/SDS Against Shares Etc. 2%
Unclassified Consumer Financing Other Than Housing Finance and Unclassified Credit Card 2%
Off Balance Sheet Exposures

SPECIFIC PROVISION ON:

Substandard Small, Co�age & Micro Credit 5%
Substandard & Doub�ul Short Term Agri. Credit and Micro Credit 5%
Substandard Loans and Advances Other Than Short Term Agri. Credit and Micro Credit 20%
Doub�ul Small, Co�age & Micro Credit 20%
Doub�ul Loans and Advances Other Than Short Term Agri. Credit And Micro Credit 50%
Bad/Loss Loans And Advances 100%

161
Quan�ta�ve Disclosures of NRBC Bank’s Credit Risk:
Geographical distribu�on of exposures, broken down in significant areas by major types of credit exposure:

Urban BDT CRORE

Dhaka 6820.71
Cha�ogram 819.29
Rajshahi 396.91
Sylhet 164.13
Barishal 179.18
Rangpur 91.09
Khulna 101.19
Mymensingh 31.90
Rural
Dhaka 867.75
Cha�ogram 296.99
Rajshahi 101.45
Sylhet 46.95
Barishal 132.71
Rangpur 327.81
Khulna 54.49
Mymensingh 57.27
Total 10489.83

Division and Area Wise Por�olio Distribu�on

Rural

Urban

Rural
Rural
Rural Rural
Rural Rural
Urban Rural
Urban Urban Urban Urban Urban Urban
Dhaka Cha�ogram Rajshahi Sylhet Barishal Rangpur Khulna Mymensingh

Total gross credit risk exposures broken down by major types of credit exposure:
Par�culars BDT Crore

Overdra� 2028.54
Cash Credit 891.95
Time Loan 751.27
Term Loan 2790.16
Payment Against Document 8.68
Loans Against Trust Receipt 245.04
Packing Credit 44.24
Edf Loan 34.18
Sme Credit 1301.46
Lease Finance 91.99
Hire Purchase (Conven�onal & Islamic) 286.16
Retails Credit 663.74
Staff Loan 94.77
Credit Card 69.88
Other Loans And Advances 1187.76
Total 10489.83

162
Industry or counterparty type distribu�on of exposures, broken down by major types of credit exposures

Industries BDT Crore

Agricultural Industry 161.58

Tex�le 329.94
RMG 1089.97
NBFI 87.28
Food 55.77
Beverage 58.42
Pharmaceu�cal 10.51
Chemical 0.00
Electrical 149.94
Construc�on 545.02
House Building Residen�al 496.59
Leather 66.66
Service Industry 652.51
Transport 28.04
Basic Metal 0.00
Capital Market 140.87
Car Loan 0.00
Furniture 109.47
Insurance 14.82
Consumer Finance 661.38
Prin�ng 138.88
Ship Breaking 167.01
SME 3378.50
Staff Loan 76.18
Steel 263.87
Trade Industry 933.73
Card 69.88
Other Manufacturing Industry 733.09
Others 69.91
Total 10489.83

Residual contractual maturity breakdown of the whole por�olio, broken down by major types of credit exposure:

MATURITY BDT Crore

Payable On Demand 945.82

Not More than 3 Months 2,142.26
More than 3 Months But not more than 1 Year 2,772.87
More than 1 Year But not more than 5 Years 2,139.61
More than 5 Years 2,489.26
Total 10,489.83

Gross Non-Performing Asset: BDT Crore

Unclassified

Standard Including Staff Loan 9,670.95

Special Men�on Account 342.14
Sub-Total (A) 10,013.09

Classified

Substandard Loan 184.47

Doub�ul 9.37
Bad/Loss 282.89
Sub-Total (B) 476.73
Total (A+B) 10489.83

163
Distribu�on of Loan Por�olio based on Classifica�on

SS 184.47

DF 9.38
Unclassified Classified

BL 282.89

Movement of Nonperforming Asset (NPAs) and specific provisions of NRBC Bank:

Movement Of Nonperforming Asset (NPAS) BDT Crore

Gross Non Performing Assets(NPAs) 476.73
Movement Of NPAs
Opening Balance 219.11
Addi�on 257.62
Reduc�on 0.00
Closing Balance 476.73
Movement Of Specific Provisions For NPAs
Opening Balance 110.22
Provisions Made During The Period 70.17
Write-Off
Write-Back Of Excess Provisions
Closing balance 180.39

v. Equi�es: Disclosures for banking book posi�ons:

Investment in equity securi�es by NRBC Bank is broadly categorized into two parts: Quoted securi�es (Ordinary shares, Mutual Fund) and Un-quot-
ed securi�es (including preference share and subscrip�on for private placement). Unquoted securi�es are categorized as banking book exposures
which are further subdivided into two groups: unquoted securi�es which are invested without any expecta�on that these will be quoted in near
future (i.e. held to maturity) and securi�es that are acquired under private placement or IPO and are going to be traded in the secondary market
a�er comple�ng required formali�es. Usually these securi�es are held for trading or investment for making capital gains.

BDT Crore
Par�culars (Solo Basis) Cost Price Market Price Unrealized Gain/Loss
Quoted Share 227.52 210.56 (16.96)
Un-Quoted Share 2.5 Not Available -

All investment securi�es are ini�ally recognized at cost. Premiums are amor�zed and discount accredited, using the effec�ve yield method and are
taken to discount income. The valua�on methods of Marking to Market for investment used are

a) Held to Maturity (HTM) and by defini�on the investments which have “Fixed or determinable” payments and fixed maturity that the group has
the posi�ve intent and ability to hold to maturity other than those that meet the defini�on of 'Held at amor�zed cost others' are classified as
held to maturity. These investments are subsequently measured at amor�zed cost, less any provision for impairment in value. Amor�zed cost
is calculated by taking into account any discount or premium in acquisi�on. Any gain or loss on such investments is recognized in the statement
of income when the investment is derecognized or impaired as per IAS-39 "Financial Instruments: Recogni�on and Measurement"

b) Held for Trading (HFT) is a method where investments are acquired principally for the purpose of selling or repurchasing or in short trading or
if designated as such by the management. A�er ini�al recogni�on, investments are measured at present value and any change in the fair value
is recognized in the statement of income for the period in which it arises. Transac�on costs, if any, are not added to the value of investments
at ini�al recogni�on.

c) Revalua�on: According to DOS Circular no.-05, dated 26th May 2008, the HFT securi�es are revalued once each week using Marking to Market
concept and the HTM securi�es are amor�zed once a year according to Bangladesh Bank guidelines. The HTM securi�es are also revaluated if
they are reclassified to HFT category with the Board’s approval.

164
Capital Charge on Equi�es: BDT Crore
Par�culars Amount Capital Charge
Specific Risk 210.56 21.06
General Market Risk 210.56 21.06
Total 421.12 42.12

vi. Interest Rate Risk in the Banking Book (IRRBB): a) Interest Rate Sensi�vity Report: Measures mismatches between
rate sensi�ve liabili�es and rate sensi�ve assets in various tenor
It is the risk related to interest income arising from a mismatch between
buckets based on re-pricing or maturity, as applicable.
the dura�on of assets and liabili�es that arises in the normal course of
b) Dura�on Gap Analysis: Measures the mismatch in dura�on of
business ac�vi�es. Changes in interest rates affect the underlying value
assets & liabili�es and the resultant impact on market value of
of the bank's assets, liabili�es, and off-balance-sheet (OBS) instruments
equity.
because the present value of future cash flows (and in some cases, the
c) Stress Tes�ng: It is conducted on quarterly basis as per the
cash flows themselves) changes when interest rates change.
direc�ves of Bangladesh Bank to gain be�er insight into the
vulnerable issue of IRRBB. Evaluates the impact on dura�on of
Organiza�onal Structure:
capital of banking book under various stress scenarios.
The Asset Liability Management Commi�ee of the Bank monitors and
manages the IRRBB. The ALCO is responsible for management of the Quan�ta�ve Disclosure:
balance sheet of the Bank with a view to manage the market risk Par�culars In Years
exposure by the Bank within the risk parameters laid down by the Board
Dura�on in Asset 2.10
of Directors/Risk Commi�ee.
Dura�on in Liabili�es 1.23
IRRBB Management procedure: Dura�on Gap (In Years) 0.92
IRRBB architecture is the framework to measure, monitor and control
the adverse impact of interest rates on the Bank’s financial Interest rate risk in banking book as of Dec 31st, 2021 is calculated as
condi�on within tolerable limits. This impact is calculated from change in Market Value (MV) of equity as below:
following perspec�ves:
i) Earning perspec�ve: Indicates the impact on Bank’s net interest Interest Rate Change 1% 2% 3%
income (NII) in the short term. Change in Market Value of Equity (125.20) (250.40) (375.61)
ii) Economic perspec�ve: Indicates the impact on the net-worth of
bank due to re-pricing of assets, liabili�es and off-balance sheet The below result implies that bank has more interest rate sensi�ve
items. assets than interest rate sensi�ve liabili�es and increase in interest rate
The ALM& Market Risk Polic ies define the framework for managing may cause a increase in the economic value of bank’s capital.
IRRBB through measures such as:

Sensi�vity Analysis:
BDT Crore
Total Risk Sensi�ve Asset 6209.36
Total Risk Sensi�ve Liabili�es 8173.54
Cumula�ve Gap
< 3 Months (868.18)
< 6 Months (627.04)
< 12 Months (468.96)
CRAR Before Shock (Solo) 13.45%
Assumed Change In Interest Rate 1% 2% 3%
Capital A�er Shock 1481.73 1356.53 1231.32
CRAR A�er Shock 12.53% 11.60% 10.64%

vii. Market Risk: Views of Board of Directors (BoD) on trading/investment ac�vi�es:

Market risk is the risk of adverse revalua�on or movement of any The Board approves all policies related to market risk, sets limits and
financial instrument as a consequence of changes in market prices or reviews compliance on a regular basis. The objec�ve is to obtain
rates. Market risk exists in all trading, banking and investment por�olios. maximum returns without taking undue risks.
But for the purpose of this report, it is considered as a risk specific to
Methods used to measure Market Risk:
trading book of the Bank. The major types of market risk as specified in
the Risk Based Capital Adequacy (RBCA) are as follows: Bank applies maturity method in measuring interest rate risk in respect
• Interest rate risk of securi�es in trading book. The capital charge for en�re market risk
• Foreign exchange risk exposure is computed under the standardized approach using the
• Equity posi�on and maturity method and in accordance with the guideline issued by Bangla-
• Commodity risk. desh Bank.
Market Risk Management System:
Among the above list the main type of market risk faced by the Bank are
interest rate risk and foreign exchange risk. The management of Bank The Treasury Division manage market risk covering liquidity, interest
has given significant a�en�on to market risk in trading book, to assess rate and foreign exchange risks with oversight from Asset-Liability
the poten�al impact on the Bank's business due to the unprecedented Management Commi�ee (ALCO) comprising senior execu�ves of the
vola�lity in financial markets. Bank.

165
Policies and procedure for mi�ga�ng market risk are men�oned below: Approach for calcula�ng capital charge for opera�onal risk:
• Risk Management and repor�ng is based on parameters such as
Bank applies ‘Basic Indicator Approach’ for calcula�ng capital charge for
Maturity Gap Analysis, Dura�on Gap Analysis.
opera�onal risk as prescribed by BB in revised RBCA guidelines. Under
• Risk Profiles are analyzed and mi�ga�ng strategies/processes are this approach, banks have to calculate average annual gross income (GI)
suggested by the Asset Liability Commi�ee (ALCO). Treasury is in of consecu�ve last three years and mul�ply the result by 15% (α factor)
charge of implemen�ng the day by day strategy. to determine required capital charge. Gross Income is the sum of ‘Net
• Foreign Exchange Net Open Posi�on (NOP) limits (Day limit/Over- Interest Income’, ‘Net non-interest income’ and ‘Interest Suspense’ of a
night limit), deal-wise trigger limits, Stop-loss limit, Profit/Loss in year or it is ‘Total Opera�ng Income’ of the bank.
respect of cross currency trading are properly monitored and
excep�on repor�ng is regularly carried out. Quan�ta�ve Disclosure: The capital requirement for opera�onal risk is
• Holding of equi�es is monitored regularly so that the investment as follows:
remains within the limit as set by Bangladesh Bank.
• Asset Liability Management Commi�ee (ALCO) analyzes market and BDT Crore
determines strategies to a�ain business goals. Par�culars Solo Consolidated
• Reconcilia�on of foreign currency transac�ons.
The Capital Requirement 82.68 83.43
Quan�ta�ve Disclosure for Opera�onal Risk
BDT Crore
ix. Liquidity Ra�o and Risk:
The Capital Requirements for Solo Consolidated
Liquidity ra�os are a class of financial metrics used to determine a
Interest Rate Risk 10.47 10.47 bank’s ability to pay off its short-terms debts obliga�ons. Liquidity risk is
Equity Posi�on Risk 42.11 43.79 the risk that a bank may be unable to meet short term financial
Foreign Exchange Risk 11.80 11.80 demands. This usually occurs due to the inability to convert a security or
Commodity Risk 0.00 0.00 hard asset to cash without a loss of capital and/or income in the process.
This is managed by Treasury under the guidance of ALCO.
viii. Opera�onal Risk:
Views of BOD on system to reduce Liquidity risk:
Opera�onal risk is the risk of direct or indirect loss due to an event or
ac�on resul�ng from the failure of internal processes, people and The Board Risk Management Commi�ee regularly observe the key
systems, or from external events. We seek to minimize exposure to liquidity risk indicator i.e. Vola�le liability dependency ra�o, Liquidity
opera�onal risk, subject to cost benefit trade-offs. Coverage Ra�o (LCR), medium term funding ra�o, and Net stable
funding ra�o and provide their valuable opinion. BRMC can communi-
Views of BoD on system to reduce opera�onal risk: cate observa�ons to ALCO through the CRO if and when needed.

Banks Internal Control & Compliance (ICCD) is the main tool in managing Methods used to measure Liquidity risk:
opera�onal risk. Management through three units of ICCD i.e. monitor-
ing, compliance and Audit & Inspec�on controls overall opera�on of the The stress test for liquidity risk evaluates the resilience of the banks
bank. Board audit commi�ee directly oversees the func�ons of ICCD to towards the fall in liquid liabili�es. The ra�o “liquid assets to liquid
prevent opera�onal risk. liabili�es” is calculated before and a�er the applica�on of shocks by
dividing the liquid assets with liquid liabili�es. Liquid assets are the
Performance gap of execu�ves and staffs: assets that are easily turned into cash without the threat of loss. They
include cash, balances with Bangladesh Bank and balances with banks,
NRBC Bank is an equal opportunity employer. RBC Bank recognize the call money lending, lending under repo and investment in government
importance of having the right people at right posi�ons to achieve securi�es. Liquid liabili�es include the deposits and the borrowings.
organiza�onal goals. Our recruitment and selec�on is governed by the Appropriate shocks will have to be absorbed to the liquid liabili�es if the
philosophies of fairness, transparency and diversity. Understanding current liquidity posi�on falls at the rate of 10%, 20% and 30% respec-
what is working well and what requires further support is essen�al to �vely.
our performance management system. The performance management
process aims to clarify what is expected from employees as well as how Liquidity risk Management System:
it is to be achieved.
The ALCO of the NRBC Bank regularly monitors the driving factors of
Poten�al external Event: liquidity risk called Regulatory liquidity indicators (RLIs). These factors
are measures form the following aspects.
No poten�al external event is expected to expose the Bank to significant • Cash Reserve Requirement (CRR)
opera�onal risk. • Statutory Liquidity Ra�o (SLR)
• Maximum Cumula�ve Ou�low (MCO)
Policies and processes for mi�ga�ng opera�onal risk: • Advance Deposit Ra�o (ADR)
As there is no upside of this risk, the objec�ve of the management of • Liquidity Coverage Ra�o (LCR)
opera�onal risk is to minimize the risk in cost effec�ve manner. Current- • Net Stable Funding Raito (NSFR)
ly bank is not using any model or tool to capture opera�onal loss data
for historical analysis rather it is a self-assessment process. Bank’s ICC Policies and process for mi�ga�ng liquidity risk:
Division is responsible for risk iden�fica�on, measurement, monitoring, NRBC BANK manages liquidity risk in accordance with its ALM Policy and
control, and repor�ng of opera�onal risk. Bank strongly follows KYC ALCO decisions through Treasury ac�vity. This policy is framed as per the
norms for its customer dealings and other banking opera�ons. The regulatory guidelines, and is approved by the Board of Directors. The
Internal Control and Compliance Division of the Bank, the inspec�on ALM Policy is reviewed periodically to incorporate changes as required
teams of Bangladesh Bank and External Auditors conduct inspec�on of by regulatory s�pula�on or to realign with changes in the economic
different branches and divisions at Head Office of the Bank and submit landscape. NRBC BANK’s ALCO formulates and reviews strategies, and
reports presen�ng the findings of the inspec�ons. Necessary control provides guidance to manage liquidity risk within the framework laid
measures and correc�ve ac�ons have been taken on the sugges�ons or out in the ALM Policy. The commi�ee proac�vely manages liquidity risk
observa�ons made in these reports. as a part of its ALM ac�vi�es.

166
In order to develop comprehensive liquidity risk management framework, the bank has a Liquidity Con�ngency Plan (LCP). A set of policies and
procedures that serves as a blueprint for the bank to meet its funding needs in a �mely manner and at a reasonable cost. In this sense, LCP is an
extension of ongoing liquidity management and formalizes the objec�ves of liquidity management by ensuring:
a) Maintenance of reasonable amount of liquid assets. b) Measurement and projec�on of funding requirements and
c) Management of access to funding sources.

Quan�ta�ve Disclosure:

PARTICULARS BDT CRORE

Liquidity Coverage Ra�o (LCR) 132.83%
Net Stable Funding Raito (NSFR) 101.59%
Stock of High Quality Liquid Assets 3402.30
Total Net Cash Ou�low Over the Next 30 Days Calendar 3349.05
Available amount of Stable Funding 11856.73
Required amount of Stable Funding 11670.92

X. Leverage Ra�o:
As an addi�onal safeguard against model risk, and measurement error by supplemen�ng the risk based measure, a non-risk based regulatory
leverage ra�o has been introduced with a simple, transparent and independent measurement of risk.
Views of BOD on system to reduce excessive leverage:
Excessive leverage by banks is widely believed to have contributed to the global financial crisis. Thus Basel III rules have introduced leverage ra�o as
a non-risk based capital requirements. Board of Directors of our Bank con�nuously monitoring the exposure limit of lending, capital strength of our
Bank in order to avoid building-up excessive on and off-balance sheet leverage.
Approach for calcula�ng exposure:
According to instruc�on of supervisory body, the bank is calcula�ng leverage ra�o and submi�ed the same to BB on quarterly basis.
Qualita�ve Disclosure: BDT Crore

Par�culars Solo Consolidated

Leverage Ra�o (Required 3%) 6.59% 6.70%
On Balance Sheet Exposure 15174.84 15263.35
Off Balance Sheet Exposure 1703.06 1703.06
Total Exposure a�er Regulatory Adjustment 16813.63 16902.14

XI. Remunera�on:
The bodies that oversee remunera�on
The bank has a Board approved payroll/remunera�on policy which is incorporated in the bank HR policy. MANCOM with the consent of the Board
monitors, advises and implements the related issues on required basis. The bank has approved reward policy for the performing employees.
Financial benefits may be granted to an employee by the Board or any other authority empowered by the Board for meritorious service. An award
in cash or in kind may be granted to an employee by the Board or any other authority empowered by the Board for the outstanding academic and
professional achievements.
Design and Structure of Remunera�on:
The Structure of remunera�on arrangements for all employees consists of following components:
• Fixed Remunera�on; and
• Variable pay
The fixed remunera�on is made up of base remunera�on and superannua�on. Base remunera�on includes salary and allowances paid in cash.
Superannua�on is paid to the employee at the �me of re�rement.
Variable pay consists of incen�ve bonuses award to most of the banks employee which are discre�onary and recognize annual performance over
the financial year.
In case of following situa�on remunera�on can be adjusted before ves�ng:
• Disciplinary Ac�on (at the discre�on of enquiry commi�ee)
• Resigna�on of the employee prior to the payment date.
Qualita�ve Disclosure BDT Crore
Number of Mee�ngs Held by the Main Body Overseeing Remunera�on During the Financial
Year and Remunera�on Paid to Its Member.
Number of Employees Having Received a Variable Remunera�on Award During the Financial Year.
Number and Total Amount of Guaranteed (Fes�val) Bonuses Awarded During the Financial Year. 9.52 Crore
Number and Total Amount of Sign-On Awards Made During the Financial Year.
Number and Total Amount of Severance Payments Made During the Financial Year
Total Amount of Outstanding Deferred Remunera�on, Split Into Cash, Shares and
Share-Linked Instruments and Other Forms.
Total Amount of Deferred Remunera�on Paid Out in The Financial YEAR.
Breakdown of Amount of Remunera�on Awards for The Financial Year To Show:
Fixed and Variable, Deferred and Non-Deferred, Different Forms Used
(Cash, Shares And Share Linked Instruments, Other Forms). (Incen�ve bonus) yet to decided

167
Declaration by the Managing Director & CFO

April 13, 2022

The Board of Directors

NRB Commercial Bank Limited
114, Motijheel C/A
Dhaka-1000

Sub: Declaration on Financial Statements for the Year Ended on December 31, 2021

Dear Sirs,
Pursuant to the condition No. 1(5)(xxvi) imposed vide the Commission’s Notification No. BSEC/CMRRCD/2006-158/207/Admin/80 dated June 3,
2018 under section 2CC of the Securities and Exchange Ordinance, 1969, we do hereby declare that:

1. The Financial Statements of NRB Commercial Bank Limited for the year ended on December 31, 2021, have been prepared incompliance
with International Accounting Standards (IAS) or International Financial Reporting Standards (IFRS), as applicable in the Bangladesh and
any departure there from has been adequately disclosed;

2. The estimates and judgments related to the financial statements were made on a prudent and reasonable basis, in order for the financial
statements to reveal a true and fair view;

3. The form and substance of transactions and the Company’s state of affairs have been reasonably and fairly presented in its financial
statements;

4. To ensure above, the Company has taken proper and adequate care in installing a system of internal control and maintenance of
accounting records;

5. Our internal auditors have conducted periodic audits to provide reasonable assurance that the established policies and procedures of the
Company were consistently followed; and

6. The management’s use of the going concerns basis of accounting in preparing the financial statements is appropriate and there exists no
material uncertainty related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going
concern.

In this regard, we also certify that:

(i) We have reviewed the financial statements for the year ended on December 31, 2021, and that to the best of our knowledge and belief:
(a) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be
misleading;
(b) these statements collectively present true and fair view of the Company’s affairs and are in compliance with existing accounting
standards and applicable laws.
(ii) There are, to the best of knowledge and belief, no transactions entered into by the Company during the year which are fraudulent, illegal
or in violation of the code of conduct for the company’s Board of Directors or its members.

Harunur Rashid Golam Awlia

Chief Financial Officer Managing Director & CEO

170
 Independent Auditors’ Report
To the Shareholders of NRB Commercial Bank Limited
Report on the Audit of the Consolidated and Separate Financial Statements

Opinion described in the Auditors’ Responsibilities for the Audit of the

We have audited the consolidated financial statements of NRB Consolidated and Separate Financial Statements section of our report.
Commercial Bank Limited and its subsidiaries (the “Group”) as well as We are independent of the Group and the Bank in accordance with the
the separate financial statements of NRB Commercial Bank Limited (the International Ethics Standards Board for Accountants’ Code of Ethics for
“Bank”), which comprise the consolidated and separate Balance Sheets Professional Accountants (IESBA Code), Bangladesh Securities and
as at 31 December 2021, and consolidated and separate Profit and Loss Exchange Commission (BSEC), and Bangladesh Bank, and we have
Accounts, consolidated and separate statement of Changes in Equity, fulfilled our other ethical responsibilities in accordance with the IESBA
and consolidated and separate Cash Flow Statements for the year then Code and the Institute of Chartered Accountants of Bangladesh (ICAB)
ended, and notes to consolidated and separate financial statements, Bye-Laws. We believe that the audit evidence we have obtained is
including a summary of significant accounting policies. sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

In our opinion, the accompanying consolidated financial statements of
the Group and separate financial statements of the Bank (the “financial Key audit matters are those matters that, in our professional judgment,
statements”) give a true and fair view of the consolidated balance sheet were of most significance in the audit of the consolidated and separate
of the Group and the separate balance sheet of the Bank as at 31 financial statements for the financial year 2021. These matters were
December 2021, and of its consolidated and separate profit and loss addressed in the context of the audit of the financial statements, and in
accounts, consolidated and separate statement of changes in equity and forming the auditor’s opinion thereon, and we do not provide a separate
its consolidated and separate cash flow statement for the year then opinion on these matters. For each matter described below our description
ended in accordance with International Financial Reporting Standards of how our audit addressed the matter is provided in that context.
(IFRSs) as explained in note # 2 and comply with the Banking Companies
Act, 1991 (as amended up to date), the Companies Act, 1994, the rules We have fulfilled the responsibilities described in the auditor’s
and regulations issued by the Bangladesh Bank, the rules and regulations responsibilities for the audit of the financial statements section of our
issued by the Bangladesh Securities & Exchange Commission (BSEC) and report, including in relation to these matters. Accordingly, our audit
other applicable laws and regulations. included the performance of procedures designed to respond to our
assessment of the risks of material misstatements of the financial
Basis for Opinion statements. These results of our audit procedures, including the
We conducted our audit in accordance with International Standards on procedures performed to address the matters below, provide the basis
Auditing (ISAs). Our responsibilities under those standards are further for our audit opinion on the accompanying financial statements.

1. Measurement of provision for Loans and Advances

See notes no. 7, 13.1, 13.2 & 13.3 to the financial statements.

The Key Audit Matter How the matter was addressed in our audit

The process of estimating provision for loans and advances We tested the design and operating effectiveness of key controls
associated with credit risk is judgmental and complex. While focusing on the following:
estimating such provision certain judgmental factors need to be
considered including: • Tested the credit monitoring and provisioning process;

• Future business performance of the borrower; • Identification of loss events, including early warning and default
warning indicators; and
• Key assumptions relating to the further business performance of
the borrower; • Reviewed the adequacy of transfer of interests to the Income
account appropriate approvals in line with the Bangladesh Bank’s
• The market value of the collateral; and guideline.
• Ability to repossess the collateral. Our substantive procedures in relation to the provision for loans and
Furthermore, these provisions are processed automatically using advances portfolio comprised the following:
the IT system of the Bank and following the instructions of • Reviewed the adequacy of the companies general and specific
Bangladesh Bank (the central bank of Bangladesh) issued from provisions;
time to time.
• Assessed the methodologies on which the provision amounts
Due to the high level of judgment involved and using automatic based, recalculated the provisions, and tested the completeness
process in estimating the provision for loans and advance, we
considered this to be a key audit matter. and accuracy of the underlying information;

An additional 1% Special general provision COVID-19 has been

maintained amounting to BDT 131.93 million (2020: BDT 284.64

173
The Key Audit Matter How the matter was addressed in our audit

million) in line with the direction of the circular. • Finally assessed the appropriateness and presentation of
As per BRPD Circular Letter No-53 dated December 30,2021, bank disclosures against relevant accounting standards and Bangladesh
need to keep 2% extra general provision for loans. Bank guidelines; and
• Reviewed the grounds for recommendations for approvals in cases
Considering At the year-end, the Bank reported total loans and
advances of BDT 104,898.31 million (2020: BDT 74,835.73 million) of transfer of interests to the Income account.
and provision for loans and advances of BDT 3,792.79 million (2020:
BDT 2,895.74 million) as at 31 December 2021.

2. Valuation of Treasury Bill and Treasury Bond

See note no. 6 to the financial statements.
The Key Audit Matter How the matter was addressed in our audit

The classification and measurement of Treasury Bills and Treasury We assessed the processes and controls put in place by the Group to
Bonds require judgment and complex estimates. identify and confirm the existence of financial instruments.

In the absence of a quoted price in an active market, the fair value We obtained an understanding, evaluated the design and tested the
of T-Bills and T-Bonds is determined using complex valuation operating effectiveness of the key controls over the financial
techniques which may take into consideration direct or indirect
unobservable market data and complex pricing models which instrument valuation processes, including controls over market data
require an elevated level of judgment. inputs into valuation models, model governance, and valuation
adjustments.

We tested a sample of the valuation models and the inputs used in

those models, using a variety of techniques, including comparing
inputs to available market data.

Finally, we have assessed the appropriateness and presentation of

disclosures against relevant accounting standards and Bangladesh
Bank guidelines.

3. Measurement of Deferred Tax Assets

See note no. 10.5 to the financial statements.
The Key Audit Matter How the matter was addressed in our audit

Deferred tax assets for deductible temporary differences that it We obtained an understanding, evaluated the design and tested the
believes are recoverable. operational effectiveness of the Group and Bank’s key controls over
the recognition and measurement of deferred tax assets and the
The recoverability of recognized deferred tax assets is in part assumptions used in estimating the Group and the Bank’s future
dependent on the Bank’s ability to generate future taxable profits taxable income.
sufficient to utilize deductible temporary differences.
We also assessed the completeness and accuracy of the data used for
We have determined this to be a key audit matter, significant
judgment is required in relation to deferred tax assets as their the estimations of future taxable income.
recoverability is dependent on forecasts of future profitability over a
number of years. We involved tax specialists to assess key assumptions, controls,
recognition and measurement of deferred tax assets.
The Bank has reported net deferred tax assets to a total of BDT
711.31 million (2020: BDT 460.01 million million) as at 31 December Finally, we assessed the appropriateness and presentation of
2021. disclosures as per IAS 12 Income Tax.

174
4. Legal and Regulatory matters
The Key Audit Matter How the matter was addressed in our audit

We focused on legal and regulatory matters because the Group and We obtained an understanding, evaluated the design and tested the
the Bank operate in a legal and regulatory environment that is operational effectiveness of the Group’s key controls over the legal
exposed to significant litigation and similar risks arising from provision and contingencies process.
disputes and regulatory proceedings. Such matters are subject to
many uncertainties and the outcome may be difficult to predict.
These uncertainties inherently affect the amount and timing of We enquired to those charged with governance to obtain their view on
potential outflows with respect to the provisions which have been the status of all significant litigation and regulatory matters.
established and other contingent liabilities.
We enquired of the Group’s internal legal counsel for all significant
Overall, the legal provision represents the Bank’s best estimate for litigation and regulatory matters and inspected internal notes and
existing legal matters that have a probable and estimable impact on reports. We also received formal confirmations from external
the Group’s financial position. counsels.

We assessed the methodologies on which the provision amounts are

based, recalculated the provision, and tested the completeness and
accuracy of the underlying information.

We also assessed the Bank’s provisions and contingent liabilities

disclosure.

5. IT Systems and Controls

The Key Audit Matter How the matter was addressed in our audit

Our audit procedures have a focus on IT systems and controls due to We tested the design and operating effectiveness of the Bank’s IT
the pervasive nature and complexity of the IT environment, the access controls over the information systems that are critical to
large volumes of transactions processed in numerous locations daily, financial reporting. We tested IT General Controls (Logical Access,
and our reliance on automated and manual with automated (IT
Dependent) controls. Changes in management, and aspects of IT Operational Controls). This
included testing that requests for access to systems were
We have focused on Data management, user access management, appropriately reviewed and authorized.
and developer access to the production environment and changes to
the IT environment. Among others, these are key to ensuring the We tested the Bank's periodic review of access rights and reviewed
operating effectiveness of manual with automated control and requests of changes to systems for appropriate approval and
automated controls. authorization.

We also concentrated on formal security administration policies and We performed the Tests of IT General Controls to evaluate the
procedures to determine whether they are approved, Application Development and Database, Hosting Platforms, and
comprehensive, up-to-date, and bank-wide communicated.
segregation of incompatible duties relevant to application and
database change management.

6. Measurement of Right of Use Assets and Lease Liability

See note 9.01 and Annexure G

Bank has applied the IFRS 16 from 2020 using the modified We have reviewed the management assumption regarding the
retrospective approach considering threshold level with the paid identification of Lease as per IFRS 16.
capital where the Bank measured the lease liability at the present
value of the remaining lease payments, discounted it using the bank's
incremental borrowing rate at the date of initial application, and We also review the lease agreement with the lessor and lessee,
recognized a right-of-use asset at the date of initial application based identified the lease terms and recalculated lease liabilities and right of
on following criteria: use assets, Interest on the lease liability and Depreciation charged on
the right of use assets.
a. Materiality threshold is 3.45% of the discounted lease liability for the
year 2020 (up to Lease term with lessor) of capital of the Bank
Tk.7,025,169,980 (including IPO subscription) for right of use of assets.
Bank Extend the application of IFRS 16 under modified
retrospective approach effect from January 01, 2021 taking into

175
 consideration of 18 Branches having more than 5 Years lease term.
Hence, Materiality threshold is 10.40% of the discounted lease
liability for the year 2021 (up to Lease term with lessor) of capital
of the Bank Tk.7,376,428,479 for right of use of assets
b. Implicit incremental borrowing rate is used for discounting the
lease payment based on Treasury bill/bond rate supporting lease
tenor 2 -7 years. As such 5 years T-bill/bond rate 8.86% of January
2020 has been used for those contracts having weighted average
lease tenor of 5 years or more implemented from the date of initial
application (01 January 2020)
Like as previous year as mentioned above, Implicit incremental
borrowing rate is 4.24% of the 5 Years Treasury Bond Rate of
January 2021 for initial application from January 01, 2021.
c. Right-of-use assets are being depreciated over the respective
lease term.
d. fixed payments, including in-substance fixed payments (if any)
e. amounts expected to be payable under a residual value guarantee
(if any); and
f. Lease term as the non-cancellable term of the lease, together with
any periods covered by an option to extend the lease if it is
reasonably certain to be exercised, or any periods covered by an
option to terminate the lease, if it is reasonably certain not to be
exercised.

As of 31 December 2021, the carrying amount of Right of Use Assets

is amounting BDT 518.69 Million (2020: BDT 165.38 million) and
outstanding Lease Liability amounting BDT 452.14 Million (2020 BDT
141.44 million).

7. Recognition of interest income from loans and advances

See note no. 2.11 & 20.

Recognition of interest income has significant and wide influence on We tested the design and operating effectiveness of key controls over
financial statements. recognition and measurement of interest on loans and advances.

Recognition and measurement of interest income has involvement We performed test of operating effectiveness on automated control in
of complex IT system. place to measure and recognize interest income.

We identify recognition of interest income from loans and advances We have also performed substantive procedure to check whether
as a key audit matter because this is one of the key performance
indicators of the Bank and therefore there is an inherent risk of interest income is recognized completely and accurately.
fraud and error in recognition of interest by management to meet
specific targets or expectations. We assessed the appropriateness and presentation of disclosure
against relevant accounting standards and Bangladesh Bank
guidelines.

Other Information In connection with our audit of the consolidated and separate financial
statements, our responsibility is to read the other information identified
Management is responsible for the other information. The other
above when it becomes available and, in doing so, consider whether the
information comprises all of the information in the annual report other
other information is materially inconsistent with the consolidated and
than the consolidated and separate financial statements and our
separate financial statements or our knowledge obtained in the audit, or
auditor’s report thereon. The annual report is expected to be made
otherwise appears to be materially misstated.
available to us after the date of this auditor’s report.
When we read the annual report, if we conclude that there is a material
Our opinion on the consolidated and separate financial statements does
misstatement therein, we are required to communicate the matter to
not cover the other information and we do not express any form of
the board of directors of the Bank.
assurance conclusion thereon.

176
Responsibilities of Management and Those Charged with obtained, whether a material uncertainty exists related to events or
Governance for the Consolidated and Separate Financial conditions that may cast significant doubt on the Group’s and the
Statements and Internal Controls Bank’s ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in our
Management is responsible for the preparation and fair presentation of
auditor’s report to the related disclosures in the consolidated and
the consolidated and separate financial statements in accordance with
separate financial statements or, if such disclosures are inadequate,
International Financial Reporting Standards (IFRSs) as explained in note #
to modify our opinion. Our conclusions are based on the audit
2 and comply with the Banking Companies Act, 1991 (as amended up to
evidence obtained up to the date of our auditor’s report. However,
date), the Companies Act, 1994, the Rules and Regulations issued by the
future events or conditions may cause the Group and the Bank to
Bangladesh Bank, the Rules and Regulations issued by the Bangladesh
cease to continue as a going concern.
Securities & Exchange Commission (BSEC) and other applicable Laws and
Regulations and for such internal control as management determines is • Evaluate the overall presentation, structure, and content of the
necessary to enable the preparation of consolidated and separate consolidated and separate financial statements, including the
financial statements that are free from material misstatement, whether disclosures, and whether the consolidated and separate financial
due to fraud or error. The Banking Companies Act, 1991 (as amended up statements represent the underlying transactions and events in a
to date) and the Bangladesh Bank guidelines require the management to manner that achieves fair presentation.
ensure effective internal audit, internal control and risk management • Obtain sufficient appropriate audit evidence regarding the financial
functions of the Bank. information of the entities or business activities within the Group to
express an opinion on the consolidated financial statements. We are
The Management is also required to make a self-assessment on the responsible for the direction, supervision, and performance of the
effectiveness of anti-fraud internal controls and report to Bangladesh group audit. We remain solely responsible for our audit opinion.
Bank on instances of fraud and forgeries.
We communicate with those charged with governance regarding, among
In preparing the consolidated and separate financial statements, other matters, the planned scope and timing of the audit and significant
management is responsible for assessing the Group’s and the Bank’s audit findings, including any significant deficiencies in internal control
ability to continue as a going concern, disclosing, as applicable, matters that we identify during our audit.
related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the Bank or to cease We also provide those charged with governance with a statement that
operations, or has no realistic alternative but to do so. we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and
Those charged with governance are responsible for overseeing the other matters that may reasonably be thought to bear on our
Group’s and the Bank’s financial reporting process. independence, and where applicable, related safeguards.

Auditor’s Responsibilities for the Audit of the Consolidated From the matters communicated with those charged with governance,
and Separate Financial Statements we determine those matters that were of most significance in the audit
Our objectives are to obtain reasonable assurance about whether the of the consolidated and separate financial statements of the current
consolidated and separate financial statements as a whole are free period and are therefore the key audit matters. We describe these
from material misstatement, whether due to fraud or error and to issue matters in our auditors’ report unless law or regulation precludes public
an auditor’s report that includes our opinion. Reasonable assurance is disclosure about the matter or when, in extremely rare circumstances,
a high level of assurance but is not a guarantee that an audit conducted we determine that a matter should not be communicated in our report
in accordance with ISAs will always detect a material misstatement because the adverse consequences of doing so would reasonably be
when it exists. Misstatements can arise from fraud or error and are expected to outweigh the public interest benefits of such
considered material if, individually or in the aggregate, they could communication.
reasonably be expected to influence the economic decisions of users
taken on the basis of these consolidated and separate financial Report on other Legal and Regulatory Requirements
statements. In accordance with the Companies Act 1994, the Securities and Exchange
Rules 2020, the Banking Companies Act 1991 (as amended up to date),
As part of an audit in accordance with ISAs, we exercise professional and the rules and regulations issued by Bangladesh Bank, we also report
judgment and maintain professional skepticism throughout the audit. that:
We also:
i) we have obtained all the information and explanations which to the
• Identify and assess the risks of material misstatement of the best of our knowledge and belief were necessary for the purpose of
consolidated and separate financial statements, whether due to our audit and made due verification thereof;
fraud or error, design and perform audit procedures responsive to ii) to the extent noted during the course of our audit work performed
those risks, and obtain audit evidence that is sufficient and on the basis stated under the Auditor’s Responsibility section in
appropriate to provide a basis for our opinion. The risk of not forming the above opinion on the consolidated financial statements
detecting a material misstatement resulting from fraud is higher of the Group and the separate financial statements of the Bank and
than for one resulting from error, as fraud may involve collusion, considering the reports of the Management to Bangladesh Bank on
forgery, intentional omissions, misrepresentations, or the override anti-fraud internal controls and instances of fraud and forgeries as
of internal control. stated under the Management’s Responsibility for the financial
• Obtain an understanding of internal control relevant to the audit in statements and internal control:
order to design audit procedures that are appropriate in the a) internal audit, internal control, and risk management
circumstances. arrangements of the Group and the Bank as disclosed in the
• Evaluate the appropriateness of accounting policies used and the financial statements appeared to be materially adequate;
reasonableness of accounting estimates and related disclosures b) nothing has come to our attention regarding material instances
made by management. of forgery or irregularity or administrative error and exception
• Conclude on the appropriateness of management’s use of the going or anything detrimental committed by employees of the Group
concern basis of accounting and, based on the audit evidence and its related entities.

177
iii) financial statements of one subsidiary namely, NRBC Bank Securities vii) the expenditures incurred were for the purpose of the Bank’s
Limited, has been audited by Hoque Bhattacharjee Das & Co. business for the year;
Chartered Accountants and have been properly reflected in the viii) the consolidated financial statements of the Group and the separate
consolidated financial statements; financial statements of the Bank have been drawn up in conformity
iv) in our opinion, proper books of accounts as required by law have with prevailing rules, regulations, and accounting standards as well
been kept by the Group and the Bank so far as it appeared from our as related guidance issued by Bangladesh Bank;
examination of those books; ix) adequate provisions have been made for advance and other assets
v) the records and statements submitted by the branches have been which are in our opinion, doubtful of recovery;
properly maintained and consolidated in the financial statements; x) the information and explanations required by us have been received
v) the records and statements submitted by the branches have been and found satisfactory;
properly maintained and consolidated in the financial statements; xi) we have reviewed over 80% of the Risk-weighted Assets of the Bank
vi) the consolidated balance sheet and consolidated profit and loss and spent over 4,950 person-hours; and
account together with the annexed notes dealt with by the report xii) Bank has maintained Capital to Risk-weighted Asset Ratio (CRAR)
are in agreement with the books of account and returns; adequately during the year as explained in note 14.7.

K. M. HASAN & CO., Chartered Accountants Howladar Yunus & Co., Chartered Accountants
Firm Registration Number: Firm Registration Number:

Md. Shahidul Islam FCA Ali Amjad Choudhury FCA

Enrolment No.: 1758 Enrolment No.: 1242
Partner Partner
DVC No.: 2204181758AS749461 DVC No.: 2204181242AS692954

Dated: April 13, 2022

178
 NRB Commercial Bank Limited & Its Subsidiary
Consolidated Balance Sheet
As at 31 December 2021

At Dec 31, 2021 At Dec 31, 2020

Particulars Note
Taka Taka

PROPERTY AND ASSETS

Cash: 3a 8,155,346,132 6,091,949,125
In Hand (Including Foreign Currencies) 3.1a 2,625,175,939 1,689,286,151
Balance with Bangladesh Bank and its agent bank (s) 3.2a 5,530,170,193 4,402,662,974
(including foreign currencies)
Balance with other banks and financial institutions 4a 4,589,691,026 3,381,521,957
In Bangladesh 3,050,655,473 2,471,588,502
Outside Bangladesh 1,539,035,553 909,933,455
Money at call and short notice 5a 147,450,000 134,800,000
Investments 6a 28,881,509,606 26,727,196,185
Government 23,063,358,749 24,141,738,936
Others 5,818,150,856 2,585,457,249
Loans and advances 7a 105,490,584,892 74,887,425,182
Loans, cash credits, overdrafts etc./investments 7.2a 103,905,515,369 73,093,345,450
Bills purchased and discounted 8a 1,585,069,522 1,794,079,732

Fixed assets including premises, furniture and fixtures 9a 1,837,801,596 840,910,417

Other assets 10a 5,335,023,463 4,579,462,804

Non - banking assets - -

Total assets 154,437,406,715 116,643,265,669

LIABILITIES AND CAPITAL

Liabilities
Borrowings from other banks, financial institutions and agents 11a 7,542,165,550 4,133,970,569
Bond - BASEL Capital Tier-I & II 11aa 3,000,000,000 -
Deposits and other accounts 12a 114,947,262,637 90,074,305,616
Current accounts/Al-wadeeah current accounts and other accounts 20,621,909,941 12,353,412,377
Bills payable 10,248,187,225 7,528,319,896
Savings bank/Mudaraba savings bank deposits 12,973,902,116 8,051,721,281
Special/Mudaraba notice deposits 12,600,505,712 9,955,274,828
Fixed deposits/Mudaraba fixed deposits 34,102,481,411 20,911,988,336
Schemes Deposit/ Mudaraba Scheme Deposits 24,400,276,232 31,273,588,899

Other liabilities 13a 16,898,114,983 12,555,753,040

Total liabilities : 142,387,543,170 106,764,029,225

Total Shareholders' Equity 11,989,739,507 9,835,067,171

Paid -up capital 14.2 7,376,428,479 5,825,169,980
Statutory/Capital reserve 15a 2,471,024,497 1,866,788,986
Revaluation reserve 16a 85,493,276 810,630,704
Retained earnings 17a 2,056,793,255 1,332,477,501
Minority Interest 17b 60,124,038 44,169,274
Total Equity 12,049,863,545 9,879,236,445

Total Liabilities and Shareholders' Equity 154,437,406,715 116,643,265,669

Net Asset Value (NAV) per Share 16.25 16.88

Net Asset Value (NAV) per Share [Restated] 16.25 13.33

179
 NRB Commercial Bank Limited & Its Subsidiary
Consolidated Balance Sheet
As at 31 December 2021

At Dec 31, 2021 At Dec 31, 2020

Particulars Note
Taka Taka

OFF - BALANCE SHEET EXPOSURES

Contingent liabilities 18 53,600,415,599 35,446,633,626
Acceptances and endorsements 10,153,585,783 6,718,231,595
Letters of Bank Guarantee 25,797,741,477 16,368,959,148
Irrevocable letters of credit 12,124,268,552 7,818,738,221
Bills for collection 5,524,819,787 4,540,704,662
Other contingent liabilities - -

Total Off-Balance Sheet exposures including contingent liabilities 53,600,415,599 35,446,633,626

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD

Signed as per annexed report on even date

K. M. HASAN & CO., Chartered Accountants Howladar Yunus & Co., Chartered Accountants
Firm Registration Number: Firm Registration Number:

Md. Shahidul Islam FCA Ali Amjad Choudhury FCA

Partner Partner
Enrolment No.: 1758 Enrolment No.: 1242
DVC No.: 2204181758AS749461 DVC No.: 2204181242AS692954

Place: Dhaka
Dated: April 13, 2022

180
 NRB Commercial Bank Limited & Its Subsidiary
Consolidated Profit and Loss Account
For the year ended 31 December, 2021

2021 2020
Particulars Note
Taka Taka

OPERATING INCOME
Interest income 20a 7,983,717,788 6,639,505,617
Interest paid/Profit Shared on deposits and borrowings, etc 21a 4,569,458,163 4,923,927,439
Net interest income 3,414,259,624 1,715,578,178

Investment income 22a 3,602,144,352 3,595,201,478

Commission, exchange and brokerage 23a 1,115,633,132 784,961,966
Other operating income 24a 349,776,255 274,329,896
Total operating income (A) 8,481,813,364 6,370,071,518
OPERATING EXPENSES
Salary and allowances 25a 2,135,973,080 1,696,894,380
Rent, taxes, insurance, electricity, etc. 26a 311,162,309 277,805,490
Legal expenses 27a 38,610,372 13,486,196
Postage, stamps, telecommunication, etc. 28a 51,381,279 34,990,736
Stationery, printing, advertisement, etc. 29a 337,951,044 205,495,906
Chief Executive's salary and fees 30 12,149,459 11,445,703
Directors' fees & meeting expenses 31a 10,642,201 14,815,334
Auditors' fees 32a 1,127,250 920,000
Charges on loan losses 33 - -
Replacement, Repair and Depreciation of Bank's Assets 34a 397,949,845 269,430,890
Other expenses 35a 826,167,740 744,345,939
Total operating expenses (B) 4,123,114,579 3,269,630,575
Profit before provision (C = A-B) 4,358,698,785 3,100,440,943
Provision against loans and advances 36a 725,204,313 1,096,445,493
Provision for diminution in value of investments 37a 160,226,408 (157,000,417)
Provision for Off-Balance Sheet Exposures 38a 191,692,476 68,936,251
Total provision (D) 1,077,123,197 1,008,381,327
Profit before taxation (C-D) 3,281,575,588 2,092,059,616
Provision for taxation 998,083,871 707,525,214
Current Tax Expenses 39a 1,249,361,784 810,926,939
Deferred Tax Expenses/(Income) 40a (251,277,913) (103,401,725)
Net profit after taxation 2,283,491,716 1,384,534,402
Appropriations:
Statutory reserve 600,484,058 407,945,845
Retained surplus 1,663,052,894 972,418,117
Attributable to:
Equity holders of NRBC Bank Limited 2,263,536,952 1,380,363,963
Minority Interest 19,954,765 4,170,439
Earnings per share (EPS) 41a 3.069 2.370
Earnings per share (EPS)-[Restated] 41.1a 3.069 1.871

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD
Signed as per annexed report on even date
K. M. HASAN & CO., Chartered Accountants Howladar Yunus & Co., Chartered Accountants
Firm Registration Number: Firm Registration Number:

Md. Shahidul Islam FCA Ali Amjad Choudhury FCA

Partner Partner
Enrolment No.: 1758 Enrolment No.: 1242
DVC No.: 2204181758AS749461 DVC No.: 2204181242AS692954

Place: Dhaka
Dated: April 13, 2022

181
 NRB Commercial Bank Limited & Its Subsidiary
Consolidated Statement of Cash Flows
For the year ended 31 December, 2021

2021 2020
Particulars Note
Taka Taka
A. Cash flows from operating activities
Interest receipts in cash 8,087,934,321 6,668,923,869
Interest paid in cash (3,948,871,497) (4,122,913,876)
Dividend receipts 95,017,389 47,551,045
Fee and commission receipts in cash 1,132,359,022 787,906,055
Recoveries on loans previously written off - -
Payments to employees (2,058,880,651) (1,637,961,947)
Payments to suppliers (352,115,591) (198,905,271)
Income taxes paid (760,119,842) (401,218,120)
Receipts from other operating activities 42a 3,803,387,804 3,606,865,479
Payments for other operating activities 43a (1,432,593,542) (1,179,435,898)
Operating profit before changes in operating assets & liabilities 4,566,117,412 3,570,811,337
Increase/decrease in operating assets and liabilities
Purchased of Trading Security - -
Loans and advances to Other Bank(s) - -
Loans and advances to customers (30,580,280,013) (13,262,720,038)
Other assets 44a 231,230,716 (661,782,831)
Deposits from other bank(s) (3,100,000,000) 2,150,000,000
Deposits from customers 28,121,370,677 16,044,633,931
Trading liabilities (short-term borrowings) - -
Other liabilities 45.a 108,303,645 583,889,140
Net increase/(decrease) in operating liabilities (5,219,374,975) 4,854,020,202
Net cash from operating activities (A) (653,257,563) 8,424,831,539
B. Cash flows from investing activities
(Purchase)/ sale of government securities 46 353,694,660 (10,620,184,870)
(Purchase)/sale of Non-trading Security/Bond (1,624,961,056) 260,955,150
(Purchase)/Sale of Share/Securities (1,607,732,552) 99,804,101
(Purchase)/ sale of property, plant and equipment (835,798,278) (318,656,478)
Net cash from/(used) in investing activities(B) (3,714,797,226) (10,578,082,097)
C. Cash flows from financing activities
Borrowing from other Bank(s)/ Bangladesh Bank 3,153,245,535 2,843,738,522
Increase/(Decrease) in Long Term Borrowings/Loan Capital & Debt Capital 866,364,979 702,732,669
Paid up Capital Through Initial Public Offerings (IPO) 1,200,000,000 -
Receipt from Issuance of sub-Bond - BASEL Capital Tier-I & II 3,000,000,000 -
Receipt from issue of Ordinary Shares/Disbursement of Fraction Share - (285)
Receipt from issue of Ordinary Shares of Subsidiary's Minority Group -
Dividend paid (Cash Dividend) (566,887,749) (525,985,612)
Net cash from/(used) in financing activities (C) 7,652,722,766 3,020,485,294
D. Net increase/(decrease) in cash and cash equivalents (A+B+C) 3,284,667,977 867,234,737
E. Cash and cash equivalents at the beginning of the year 9,610,225,581 8,742,990,844
Cash and cash equivalents at the end of the year [D+E] 12,894,893,558 9,610,225,581
Cash and cash equivalents:
Cash 3.1a 2,625,175,939 1,689,286,151
Prize Bonds 6.1 2,406,400 1,954,500
Money at call and on short notice 5a 147,450,000 134,800,000
Reverse Repo -
Balance with Bangladesh Bank and its agent bank(s) 3.2a 5,530,170,193 4,402,662,974
Balance with other banks and financial institutions 4a 4,589,691,026 3,381,521,957
12,894,893,558 9,610,225,581

Net Operating Cash Flow Per Share (NOCFPS) (0.89) 14.46

Net Operating Cash Flow Per Share (NOCFPS)-[Restated] (0.89) 11.42

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD
Place: Dhaka
Dated: April 13, 2022

182
 NRB Commercial Bank Limited & Its Subsidiary
Consolidated Statement of Changes in Equity
As at 31 December 2021
Foreign Currency Reserve for Reserve for
Statutory/ amortization revaluation of Minority Retained
Particulars Paid-up capital translation of treasury treasury earnings Total
Capital reserve Interest
Gain/(loss) securities (HTM) securities (HFT)
Balance at 01 January 2021 5,825,169,980 1,866,788,986 - 4,531,019 806,099,685 44,169,273 1,332,477,501 9,879,236,444
Public offering of share in 2021 1,200,000,000 1,200,000,000
Addition of paid up capital by issuing Stock Dividend 351,258,499 (351,258,499) -
changes in accounting policy
Restated Balance 7,376,428,479 1,866,788,986 - 4,531,019 806,099,685 44,169,273 981,219,002 11,079,236,444
Net profit after taxation for the Period 2,083,944,071 2,083,944,071
Profit/(Loss) from investment in Subsidiary 199,547,646 199,547,646
Change in Minority Interest 15,954,765 (15,954,765) -
Transfer to statutory Reserve 604,235,510 (604,235,510) -
Cash Dividend Paid for [email protected]% (526,887,749) (526,887,749)
Transfer to Start Up Fund (20,839,441) (20,839,441)
NRBC Bank Securites Ltd Cash Dividend Paid for 2020@10% (40,000,000) (40,000,000)
Reserve for HFT treasury securities 2,431,777 - - 2,431,777
Reserve for HTM securities - (727,569,205) (727,569,205)
Currency translation difference -
Balance at 31 December 2021 7,376,428,479 2,471,024,497 - 6,962,796 78,530,480 60,124,038 2,056,793,255 12,049,863,544
As at 31 December 2020

Foreign Currency Reserve for Reserve for

Statutory/ amortization revaluation of Minority Retained
Particulars Paid-up capital translation of treasury treasury earnings Total
Capital reserve Interest
Gain/(loss) securities (HTM) securities (HFT)
Balance at 01 January 2020 5,710,951,240 1,458,843,141 - 4,032,413 977,534 41,200,993 1,025,940,050 8,241,945,370
Addition of paid up capital by issuing Stock Dividend 114,218,740 (114,218,740) -
changes in accounting policy
Restated Balance 5,825,169,980 1,458,843,141 - 4,032,413 977,534 41,200,993 911,721,310 8,241,945,370
Payment the Fraction of share to shareholder -2019 (285) (285)
Net profit after taxation for the Period 1,342,830,010 1,342,830,010
Change in Minority Interest 2,968,280 (2,968,280) -
Profit/(Loss) from investment in Subsidiary 41,682,803 41,682,803
Transfer to statutory Reserve 407,945,845 (407,945,845) -
Cash Dividend Paid for 2019 (513,985,612) (513,985,612)
NRBCSL Cash Dividend Paid for 2019 (12,000,000) (12,000,000)

183
Transfer to Start Up Fund (13,428,300) (13,428,300)
Transfer to Corporate Social Responsibility (CSR) Fund (13,428,300) (13,428,300)
Reserve for HFT treasury securities 805,122,151 - 805,122,151
Reserve for HTM securities 498,606 - 498,606
Currency translation difference - -
Balance at 31 December 2020 5,825,169,980 1,866,788,986 - 4,531,019 806,099,685 44,169,273 1,332,477,501 9,879,236,444
These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD

Place: Dhaka
Dated: April 13, 2022
 NRB Commercial Bank Limited
Balance Sheet
As at 31 December 2021

At Dec 31, 2021 At Dec 31, 2020

Particulars Note
Taka Taka
PROPERTY AND ASSETS

Cash: 3 8,145,327,886 6,091,909,830

In Hand (Including Foreign Currencies) 3.1 2,615,157,693 1,689,246,856
Balance with Bangladesh Bank and its agent bank (s) 3.2 5,530,170,193 4,402,662,974
(including foreign currencies)

Balance with other banks and financial institutions 4 4,547,851,355 3,501,037,060

In Bangladesh 3,008,815,802 2,591,103,606
Outside Bangladesh 1,539,035,553 909,933,455

Money at call and short notice 5 147,450,000 134,800,000

Investments 6 28,541,079,915 26,367,836,880

Government 23,063,358,749 24,141,738,936
Others 5,477,721,165 2,226,097,944

Loans and advances/investments 7 104,898,313,929 74,835,733,314

Loans, cash credits, overdrafts etc./ investments 7.2 103,313,244,407 73,041,653,582
Bills purchased and discounted 8 1,585,069,522 1,794,079,732

Fixed assets including premises, furniture and fixtures 9 1,828,381,361 835,058,951

Other assets 10 5,443,979,487 4,854,035,082

Non - banking assets - -

Total assets 153,552,383,932 116,620,411,117

LIABILITIES AND CAPITAL

Liabilities
Borrowings from other banks, financial institutions and agents 11 7,287,216,105 4,133,970,569
Bond - BASEL Capital Tier-I & II 11aa 3,000,000,000 -
Deposits and other accounts 12 114,874,873,363 90,177,258,652
Current accounts/Al-wadeeah current accounts and other accounts 20,515,046,726 12,140,413,686
Bills payable 10,248,187,225 7,528,319,896
Savings bank/Mudaraba savings bank deposits 12,973,902,116 8,051,721,281
Special/Mudaraba notice deposits 12,634,979,653 10,271,226,555
Fixed deposits/Mudaraba fixed deposits 34,102,481,411 20,911,988,336
Schemes Deposit/Mudaraba Scheme Deposits 24,400,276,232 31,273,588,899

Other liabilities 13 16,581,671,302 12,511,638,186

Total liabilities: 141,743,760,769 106,822,867,407

Total Shareholders' Equity 11,808,623,163 9,797,543,710

Paid -up capital 14.2 7,376,428,479 5,825,169,980
Statutory reserve 15 2,467,273,044 1,866,788,986
Revaluation reserve 16 85,493,276 810,630,704
Retained earnings 17 1,879,428,364 1,294,954,040

Total Liabilities and Shareholders' Equity 153,552,383,933 116,620,411,117

Net Asset Value (NAV) per Share 16.01 16.82

Net Asset Value (NAV) per Share [Restated] 16.01 13.28

184
 NRB Commercial Bank Limited
Balance Sheet
As at 31 December 2021

At Dec 31, 2021 At Dec 31, 2020

Particulars Note
Taka Taka
OFF - BALANCE SHEET EXPOSURES
Contingent liabilities 18 53,600,415,599 35,446,633,626
Acceptances and endorsements 10,153,585,783 6,718,231,595
Letters of Bank Guarantee 25,797,741,477 16,368,959,148
Irrevocable letters of credit 12,124,268,552 7,818,738,221
Bills for collection 5,524,819,787 4,540,704,662
Other contingent liabilities - -

Total Off-Balance Sheet exposures including contingent liabilities 53,600,415,599 35,446,633,626

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD
Signed as per annexed report on even date

K. M. HASAN & CO., Chartered Accountants Howladar Yunus & Co., Chartered Accountants
Firm Registration Number: Firm Registration Number:

Md. Shahidul Islam FCA Ali Amjad Choudhury FCA

Partner Partner
Enrolment No.: 1758 Enrolment No.: 1242
DVC No.: 2204181758AS749461 DVC No.: 2204181242AS692954

Place: Dhaka
Dated: April 13, 2022

185
 NRB Commercial Bank Limited
Profit and Loss Account
For the year ended 31 December, 2021

2021 2020
Particulars Note
Taka Taka
OPERATING INCOME
Interest income 20 7,902,903,813 6,620,951,918
Interest paid/Profit Shared on deposits and borrowings, etc 21 4,569,458,163 4,923,927,439
Net interest income 3,333,445,649 1,697,024,479

Investment income 22 3,521,190,244 3,586,648,824

Commission, exchange and brokerage 23 893,103,649 742,298,294
Other operating income 24 349,422,812 274,083,049
Total operating income (A) 8,097,162,353 6,300,054,646

OPERATING EXPENSES
Salary and allowances 25 2,087,048,876 1,668,779,529
Rent, taxes, insurance, electricity, etc. 26 307,599,297 275,523,408
Legal expenses 27 38,360,897 13,362,261
Postage, stamps, telecommunication, etc. 28 50,170,978 34,035,691
Stationery, printing, advertisement, etc. 29 337,136,927 205,118,843
Chief Executive's salary and fees 30 12,149,459 11,445,703
Directors' fees & meeting expenses 31 10,488,328 14,628,445
Auditors' fees 32 1,058,250 862,500
Charges on loan losses 33 - -
Replacement, Repair and Depreciation of Bank's Assets 34 395,516,811 267,397,658
Other expenses 35 803,170,883 740,905,503
Total operating expenses (B) 4,042,700,706 3,232,059,542
Profit before provision (C = A-B) 4,054,461,647 3,067,995,104
Provision against loans and advances 36 705,358,686 1,096,445,493
Provision for diminution in value of investments 37 154,990,194 (137,115,867)
Provision for Off-Balance Sheet Exposures 38 191,692,476 68,936,251
Total provision (D) 1,052,041,356 1,028,265,877
Profit before taxation (C-D) 3,002,420,291 2,039,729,227
Provision for taxation 918,476,220 696,899,215
Current Tax Expenses 39 1,169,781,963 800,088,595
Deferred Tax Expenses/(Income) 40 (251,305,742) (103,189,380)
Net profit after taxation 2,083,944,071 1,342,830,010

Appropriations:
Statutory reserve 600,484,058 407,945,845
Retained surplus to retained earnings 1,483,460,012 934,884,165

Earnings per share (EPS) 41 2.825 2.305

Earnings per share (EPS)-[Restated] 41.1 2.825 1.820

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD
Signed as per annexed report on even date
K. M. HASAN & CO., Chartered Accountants Howladar Yunus & Co., Chartered Accountants
Firm Registration Number: Firm Registration Number:

Md. Shahidul Islam FCA Ali Amjad Choudhury FCA

Partner Partner
Enrolment No.: 1758 Enrolment No.: 1242
DVC No.: 2204181758AS749461 DVC No.: 2204181242AS692954

Place: Dhaka
Dated: April 13, 2022

186
 NRB Commercial Bank Limited
Statement of Cash Flows
For the year ended 31 December, 2021

2021 2020
Particulars Note
Taka Taka
A. Cash flows from operating activities
Interest receipts in cash 7,896,759,044 6,625,443,586
Interest paid in cash (3,834,677,962) (4,102,427,867)
Dividend receipts 84,354,344 40,096,395
Fee and commission receipts in cash 893,103,649 742,298,294
Recoveries on loans previously written off - -
Payments to employees (2,022,811,974) (1,612,926,219)
Payments to suppliers (341,409,804) (205,889,848)
Income taxes paid (708,854,365) (391,016,250)
Receipts from other operating activities 42 3,733,096,741 3,605,767,475
Payments for other operating activities 43 (1,391,958,712) (1,172,543,230)
Operating profit before changes in operating assets & liabilities 4,307,600,961 3,528,802,337
Increase/decrease in operating assets and liabilities
Purchased of Trading Security - -
Loans and advances to Other Bank(s) - -
Loans and advances to customers (29,444,014,441) (12,552,837,031)
Other assets 44 345,643,262 (626,038,090)
Deposits from other bank(s) (3,100,000,000) 2,150,000,000
Deposits from customers 27,797,614,710 16,169,358,677
Trading liabilities (short-term borrowings) - -
Other liabilities 45 108,303,645 583,889,140
Net increase/(decrease) in operating liabilities (4,292,452,824) 5,724,372,695
Net cash from operating activities (A) 15,148,137 9,253,175,032

B. Cash flows from investing activities

(Purchase)/ sale of government securities 46 353,694,660 (10,620,184,870)
(Purchase)/sale of Non-trading Security/Bond (1,624,961,056) 260,955,150
(Purchase)/Sale of Share/Securities (1,626,662,165) 95,681,093
(Purchase)/ sale of property, plant and equipment (830,243,110) (317,986,913)
Net cash from/(used) in investing activities(B) (3,728,171,672) (10,581,535,540)

C. Cash flows from financing activities

Borrowing from other Bank(s)/ Bangladesh Bank 3,153,245,535 2,843,738,522
Paid up Capital Through Initial Public Offerings (IPO) 1,200,000,000 -
Receipt from Issuance of sub-Bond - BASEL Capital Tier-I & II 3,000,000,000 -
Receipt from issue of Ordinary Shares/Disbursement of Fraction Share - (285)
Receipt from issue of Ordinary Shares of Subsidiary's Minority Group - -
Dividend paid (Cash Dividend) (526,887,749) (513,985,612)
Net cash from/(used) in financing activities (C) 6,826,357,787 2,329,752,626
D. Net increase/(decrease) in cash and cash equivalents (A+B+C) 3,113,334,252 1,001,392,118
E. Effects of exchange rate changes on cash and cash equivalents - -
F. Cash and cash equivalents at the beginning of the year 9,729,701,389 8,728,309,271
Cash and cash equivalents at the end of the year [D+E+F] 12,843,035,641 9,729,701,389

Cash and cash equivalents:

Cash 3.1 2,615,157,693 1,689,246,856
Prize bonds 6.1 2,406,400 1,954,500
Money at call and on short notice 5 147,450,000 134,800,000
Reverse Repo -
Balance with Bangladesh Bank and its agent bank(s) 3.2 5,530,170,193 4,402,662,974
Balance with other banks and financial institutions 4 4,547,851,355 3,501,037,060
12,843,035,641 9,729,701,390

Net Operating Cash Flow Per Share (NOCFPS) 0.02 15.88

Net Operating Cash Flow Per Share (NOCFPS)-[Restated] 0.02 12.54

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD
Place: Dhaka
Dated: April 13, 2022

187
 NRB Commercial Bank Limited
Statement of Changes in Equity
As at 31 December 2021

Foreign Currency Reserve for Reserve for Retained

Particulars Paid-up capital Statutory translation amortization of treasury revaluation of treasury Total
reserve Gain/(loss) securities (HTM) securities (HFT) earnings

Balance at 01 January 2021 5,825,169,980 1,866,788,986 - 4,531,019 806,099,685 1,294,954,040 9,797,543,709

Public offering of share in 2021 1,200,000,000 1,200,000,000
Addition of paid up capital by issuing Stock Dividend 351,258,499 (351,258,499) -
Changes in accounting policy
Restated Balance 7,376,428,479 1,866,788,986 - 4,531,019 806,099,685 943,695,541 10,997,543,709
Net profit after taxation for the Period 2,083,944,070 2,083,944,070
Transfer to statutory Reserve 600,484,058 (600,484,058) -
Cash Dividend Paid for 2020 @7.5% (526,887,749) (526,887,749)
Transfer to Start Up Fund (20,839,441) (20,839,441)

188
Reserve for HFT treasury securities 2,431,777 - - 2,431,777
Reserve for HTM securities - (727,569,205) (727,569,205)
Currency translation difference - -
Balance at 31 December 2021 7,376,428,479 2,467,273,044 - 6,962,796 78,530,480 1,879,428,363 11,808,623,162
As at 31 December 2020

Foreign Currency Reserve for Reserve for Retained

Particulars Paid-up capital Statutory translation amortization of treasury revaluation of treasury Total
reserve Gain/(loss) securities (HTM) securities (HFT) earnings
Balance at 01 January 2020 5,710,951,240 1,458,843,141 - 4,032,413 977,534 1,015,131,111 8,189,935,439
Addition of paid up capital by issuing Stock Dividend 114,218,740 (114,218,740) -
Changes in accounting policy
Restated Balance 5,825,169,980 1,458,843,141 - 4,032,413 977,534 900,912,371 8,189,935,439
Payment the Fraction of share to shareholder -2019 (285) (285)
Net profit after taxation for the Period 1,342,830,010 1,342,830,010
Transfer to statutory Reserve 407,945,845 (407,945,845) -
Cash Dividend Paid for 2019 (513,985,612) (513,985,612)
Transfer to Start Up Fund (13,428,300) (13,428,300)
Transfer to Corporate Social Responsibility (CSR) Fund (13,428,300) (13,428,300)
Reserve for HFT treasury securities 805,122,151 - 805,122,151
Reserve for HTM securities 498,606 - 498,606
Currency translation difference - -
Balance at 31 December 2020 5,825,169,980 1,866,788,986 - 4,531,019 806,099,685 1,294,954,040 9,797,543,709

These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD

Place: Dhaka
Dated: April 13, 2022
 NRB Commercial Bank Limited
Liquidity Statement
Assets and Liability Maturity Analysis
As at 31 December 2021

Particulars Up to 1 month 1-3 months 3-12 months 1-5 years Above 5 years Total
Assets
Cash in hand and with banks 3,595,322,321 - - - 4,550,005,565 8,145,327,886
Balance with other banks and financial institutions 1,379,805,162 618,215,903 2,434,667,078 115,163,211 - 4,547,851,355
Money at call and on short notice 147,450,000 - - - - 147,450,000
Investments - - 1,827,892,904 8,936,399,389 17,776,787,622 28,541,079,915
Loans and advances 19,285,503,060 12,902,933,621 25,526,251,317 21,878,698,907 25,304,927,025 104,898,313,929
Fixed assets including premises, furniture and fixtures - - - - 1,828,381,361 1,828,381,361
Other assets 113,970,974 74,797,660 3,492,066,980 1,351,315,862 411,828,011 5,443,979,487
Non-banking assets - - - - - -
Total Assets (A) 24,522,051,517 13,595,947,184 33,280,878,279 32,281,577,369 49,871,929,584 153,552,383,932
Liabilities
Borrowings from Bangladesh Bank, other banks, financial institutions and agents (5,207,025,250) - (2,680,190,855) (600,000,000) (1,800,000,000) (10,287,216,105)
Deposits and other accounts (19,605,580,944) (24,481,733,229) (46,303,130,138) (20,510,725,595) (3,973,703,457) (114,874,873,363)
Provision and other liabilities (1,194,666,412) (4,281,109,807) (4,718,509,620) (6,106,037,857) (281,347,606) (16,581,671,302)
Total Liabilities (B) (26,007,272,606) (28,762,843,036) (53,701,830,612) (27,216,763,452) (6,055,051,063) (141,743,760,769)
Net Liquidity Gap-Excess/(Shortage) (A-B) (1,485,221,089) (15,166,895,853) (20,420,952,333) 5,064,813,917 43,816,878,521 11,808,623,163
These Financial Statements should be read in conjunction with annexed notes (1 to 49)

Golam Awlia Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Rafikul Islam Mia Arzoo S M Parvez Tamal
Managing Director & CEO Audit Committee Chairman, BoD Vice Chairman, BoD Chairman, BoD

189
Place: Dhaka
Dated: April 13, 2022
 NRB Commercial Bank Limited & Its Subsidiary
Explanatory Notes to the Financial Statements
For the year ended 31 December 2021

1 Legal Status of the Bank 1.05 NRBC Bank Securities Limited

NRBC Bank Securities Limited was formed as subsidiary company
NRB Commercial Bank Limited (NRBC Bank) having its Registered
after getting approval from Bangladesh Bank following guidelines
Office at 114 Motijheel Commercial Area, Dhaka-1000,
of the Bangladesh Securities and Exchange Commission (BSEC). It
Bangladesh, was incorporated (Inc. no. C-107535) on February 20,
incorporated as company on 20 September 2015 bearing
2013 as a Public Limited Company under the Companies Act, 1994
certificate of incorporation no. C-125904/2015 under the
(Act No.18 of 1994) and also is governed by the Banking
Companies Act 1994. The subsidiary company resumed its
Companies Act 1991 (Amendment upto 2013) with Authorized
Commercial operation on December 12, 2016
Capital of Tk. 10000 million and having initial capital base of Tk.
4446 million (Paid up Capital) by converting the hard earned
In addition to above, The Bank through its Branches and non-
foreign currency of 53 (Fifty three) qualified NRBs from business
banking subsidiary provides a diverse range of financial services
persons, community leaders, scientists, educationists, living in
and products in Bangladesh.
across the globe which includes USA, Canada, UK, Russia, Italy,
Germany, UAE and Kuwait
2 Basis of preparation of the Consolidated financial
NRBC Bank started its journey from 02 April 2013 after getting statements and Significant accounting policies
permission vide memo No. BRPD (P-3)/745(60)/2013-1189 dated Consolidated financial statements and separate financial
10 March 2013 as a scheduled Bank. Presently NRBC Bank has 93 statements of the Bank comprise of Balance Sheet, Profit and Loss
Branches, 202 sub-Branches and 318 land registration collection Account, Cash Flow Statement, Statement of Changes in Equity,
Booths in different locations of Bangladesh. The Bank has also two Liquidity Statement and relevant notes and disclosures
offshore Banking Unit (OBU) operated through Gulshan Branch
and Agrabad Branch. The Consolidated Financial statements of the Bank as at 31
December 2021 have been prepared under the historical cost
The registered office of the Bank is situated at Jasim Tarde Centre, convention except investments categorized under held for
114 Motijheel C/A, Dhaka 1000, Bangladesh trading, right-of-use assets, lease liabilities, and in accordance
with International Financial Reporting Standards (IFRS), the "First
1.01 Listed Company Schedule" (section-38) of the Banking Companies Act 1991
(amended upto 2018), as amended by BRPD circular no. 14 dated
The Bank is listed with Dhaka Stock exchange and Chittgong Stock 25 June 2003, the Companies Act, 1994, the Securities and
Exchnage after getting letter of consent from Bangladesh Securities Exchange Ordinance 1969, Securities and Exchange Rules 1987,
Exchange Commission vide their letter no. BSEC/CI/IPO- the rules, regulations and circulars issued by Bangladesh Bank
307/2020/304, dated January 4, 2021. Trading Code for NRB from time to time and other laws and rules applicable for the Bank.
Commercial Bank Limited is "NRBCBANK", along with DSE Company
Code is 11150 and CSE Company ID is "22034" under 'Bank' sector. Consolidated financial statements and financial statements of the
Bank have been prepared in accordance with the measurement
1.02 Principal activities and recognition requirements of International Accounting
The principal activities of the Bank are to provide all kinds of Standards (IAS) and International Financial Reporting Standards
conventional and Islamic commercial banking services to its (IFRS) as adopted by the Institute of Chartered Accountants of
customers through its branches, islamic windows, SME centres, Bangladesh.
and vibrant alternative delivery channels in Bangladesh. Bank also
provide service in foreign currency to promote cross boader 2.1 Basis of consolidation
transaction specially facilated foreign direct Investment and Separate set of records for consolidating the financial statements
inward remittence. of the Branches including Head office are maintained at the Head
Office of the Bank, based on which these financial statements
1.03 Islamic banking unit have been prepared. The consolidated financial statements of
NRBC Bank has got permission from Bangladesh Bank for Islami Bank and its Subsidiary M/s. NRBC Bank Securities limited have
Banking Business window vide memo no. BRPD (P-3)/745(60)/2019- been prepared in accordance with the IFRS 10 “Consolidated
9274 dated 14 November 2019 and Its soft operation inaugurated Financial Statements”. The Consolidated Financial Statements
on 20 January 2020 of our 08 Branches. After one year letter, have been prepared on basis of :
Bangladesh Bank vide their letter # BRPD (P-3)/745(60)/2021-1427
I Control over Investee i.e. Subsidiary M/s. NRBC Bank
dated 08 February 2021 has given permission for Islamic Banking
Securities limited is 90% of its shareholding or voting right
Operation of all NRBC's Branches in spirit of Islami Shariah.
ii Using uniform accounting policies for like transactions and
1.04 Off-shore banking unit other events in similar circumstances as well as common
reporting period ended on 31 December 2021
Off-shore Banking Unit (OBU) is a separate business unit of NRB
Commercial Bank Limited, governed under the rules and iii Combine like items of assets, liabilities, equity, income,
guidelines of Bangladesh Bank. The Bank obtained the Off-shore expenses and cash flows of the parent with those of its
Banking Unit (OBU) permission from Bangladesh Bank vide letter subsidiaries
no. BRPD(OB)/744(128)/ 2020-7786 dated 22 September, 2020. iv Offset (eliminate) the carrying amount of the parent's
The Bank commenced the operation of its Off-shore Banking Unit investment in subsidiary and the parent's portion of equity of
on February 7, 2021. The principal activitiy of the unit is to provide subsidiary
all kinds of commercial banking services to its customers through
its Off-shore Banking Unit in Bangladesh. v Eliminate in full intragroup assets and liabilities, equity,
income, expenses and cash flows relating to transactions
between entities

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2.2 Statement of compliance: arrangement is treated as a loan and the underlying asset
The basis of preparation of Financial statements of the Bank differ continues to be recognized at amortised cost in the entity’s
with those of IAS/IFRS and, therefore, the requirements of the financial statements. The difference between selling price and
Bank Companies Act 1991 (amended upto 2018), Income Tax repurchase price will be treated as interest expense. The same rule
Ordinance 1984, VAT Act, 2012 and provisions and circulars issued applies to the opposite side of the transaction (reverse repo).
by Bangladesh Bank shall prevail.
Bangladesh Bank: As per DOS Circular letter no. 6 dated 15 July
As such Bank has departed from those contradictory requirements 2010 and subsequent clarification in DOS Circular no 03 dated 30
of IAS/IFRS in order to comply with rules and regulations of January 2012 and DOS circular no. 2 dated 23 January 2013, when
Bangladesh Bank which are disclosed below: a bank sells a financial asset and simultaneously enters into an
agreement to repurchase the asset (or a similar asset) at a fixed
i. Presentation of financial statements price on a future date (repo or stock lending), the arrangement is
IFRS: As per IAS 1, a complete set of financial statements accounted for as a normal sales transactions and the financial
comprises a statement of financial position, a statement of profit assets are derecognized in the seller’s book and recognized in the
or loss and other comprehensive income, a statement of changes buyer’s book.
in equity, a statement of cash flows, notes comprising a summary
of significant accounting policies and other explanatory v. Recognition of Lease Rent of the Office premises
information and comparative information. IAS 1 has also stated IAS/IFRS: As per IFRS 16 is specify single lessee accounting model
the entity to disclose assets and liabilities under current and non- and requires a lessee to recognise assets and liabilities for all leases
current classification separately in its statement of financial with a term of more than 12 months, unless the underlying asset is
position. of low value. A lessee is required to recognise a right-of-use asset
representing its right to use the underlying leased asset and a lease
Bangladesh Bank: A format of financial statements (i.e. balance liability representing its obligation to make lease payments.
sheet, profit and loss accounts, cash flows statement, changes in
equity, liquidity statement) is prescribed in the “First Schedule” of Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003
section 38 of the Bank Company Act 1991 (amended up to 2018) (First Schedule of under section 38 of Banking Company Act, 1991,
and BRPD circular no. 14 dated 25 June 2003 of Bangladesh Bank. lease rent of the office Premises must be shown in the Profit and
Assets and liabilities are not classified under current and non- Loss account under "Rent, taxes, insurance, electricity etc.
current heading in the prescribed format of financial statements
Income Tax Ordinance 1984: According to section 53A of the act,
ii. Investment in shares and securities where any specified person is a tenant/lessee in respect of a house
IFRS: As per requirements of IFRS 9, the investment in shares and property, the tenant has obligation to deduct tax from the rent of
securities generally falls either under “at fair value through profit such house property which is preclude to treat it’s shown Asset
and loss account” or under “at fair value through other (right-of-use asset) and the lease liability instead of as direct
comprehensive income” where any change in the fair value of expense.
securities measured “at fair value through profit and loss account”
is taken to profit and loss account and any changes in the fair value VAT act, 2012: According to VAT S-074 (Place and establishment
of securities measured “at fair value through other renter) refer to any person, Organization or Corporation, who or
comprehensive income” is transfer to equity through other whose has got the right to use of the place and establishment for
comprehensive income certain period or renewal after period expire against
consideration. VAT will be payable on basis of use of place and
Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003 establishment for such period.
investments in quoted shares and unquoted shares are revalued at
the year end at market price revealed in the Stock exchange and as Despite of disproportion of IFRS 16 with BRPD circular no. 14 dated
per book value of last audited balance sheet respectively. Provision 25 June 2003 and Acts, Bank implemented IFRS 16 with
should be made for any loss arising from diminution in value of retrospective for 2020 though its original implementation started
investment; otherwise investments are recognised at cost. January 01, 2019.

iii. Revaluation gains/losses on Government securities vi. Provision on loans and advances/investments
IFRS: As per requirement of IAS 39, T-bills and T-bonds fall under IFRS: As per IAS 36 an entity should start the impairment assessment
the category of "Held for Trading (HFT)" and "Held to Maturity by considering whether objective evidence of impairment exists for
(HTM)". Any change in the fair value of held for trading assets is financial assets that are individually significant. For financial assets
recognised through profit and loss account. Securities designated that are not individually significant, the assessment can be
as "Held to Maturity (HTM)" are measured at amortised cost performed on an individual or collective (portfolio) basis.
method and interest income is recognised through the profit and
loss account. Bangladesh Bank: As per BRPD circular no. 14 dated 23 September
2012, BRPD circular No. 19 dated 27 December 2012 and BRPD
Bangladesh Bank: According to DOS Circular no. 05, dated 26 May circular no. 05 dated 29 May 2013 a general provision at 0.25% to
2008, DOS Circular no. 05, dated 28 January 2009, DOS Circular no. 5% under different categories of unclassified loans
02, dated 19 January 2012, the HFT securities are revalued once (good/standard loans) has to be maintained regardless of
each week using Marking to Market concept and the HTM objective evidence of impairment. Also provision for sub-standard
securities are amortized once a year according to Bangladesh Bank loans, doubtful loans and bad losses has to be provided at 20%,
guidelines. The HTM securities are also revaluated if they are 50% and 100% respectively for loans and advances depending on
reclassified to HFT category with the Board’s approval the duration of overdue. Again as per BRPD circular no. 10 dated
18 September 2007 and BRPD circular no. 14 dated 23 September
iv. Repo and reverse repo transactions 2012 a general provision at 1% is required to be provided for all off-
IFRS: As per IFRS 9 when an entity sells a financial asset and balance sheet exposures with having some exception. Such
simultaneously enters into an agreement to repurchase the asset provision policies are not specifically in line with those prescribed
(or a similar asset) at a fixed price on a future date (repo), the by IAS 36 as well as IAS 39.

191
vii. Other comprehensive income xiii. Balance with Bangladesh Bank: (Cash Reserve Requirement)
IFRS: As per IAS 1 Other Comprehensive Income (OCI) is a IFRS: Balance with Bangladesh Bank should be treated as other
component of financial statements or the elements of OCI are to assets as it is not available for use in day to day operations as per
be included in a single Other Comprehensive Income statement. IAS 7.
Bangladesh Bank: Bangladesh Bank has issued templates for Bangladesh Bank: Balance with Bangladesh Bank is treated as
financial statements which are strictly to be followed by all banks. cash and cash equivalents.
The templates of financial statements issued by Bangladesh Bank
do not include Other Comprehensive Income nor are the elements xiv. Presentation of intangible asset
of Other Comprehensive Income allowed to be included in a single IFRS: An intangible asset must be identified and recognised, and
Other Comprehensive Income (OCI) Statement. As such the Bank the disclosure must be given as per IAS 38
does not prepare the other comprehensive income statement. Bangladesh Bank: There is no regulation for intangible assets in
However, elements of OCI, if any, are shown in the statements of BRPD circular no. 14 dated 25 June 2003
changes in equity. xv. Off-balance sheet items
viii. Financial instruments – presentation and disclosure IFRS: There is no concept of off-balance sheet items in any IFRS;
In several cases Bangladesh Bank guidelines categorise, recognise, hence there is no requirement for disclosure of off-balance sheet
measure and present financial instruments different from those items on the face of the balance sheet
prescribed in IAS 39. As such full disclosure and presentation Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003,
requirements of IFRS 7 and IAS 32 cannot be made in the financial off balance sheet items (e.g. Letter of credit, Letter of guarantee
statements. etc.) must be disclosed separately on the face of the balance sheet
ix. Financial guarantees xvi. Disclosure of appropriation of profit
IFRS: As per IAS 39, financial guarantees are contracts which IFRS: There is no requirement to show appropriation of profit in
require an entity to make specified payments to reimburse the the face of statement of comprehensive income
holder for a loss it incurs because a specified debtor fails to make
payment when due in accordance with the terms of a debt Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003,
instrument. Financial guarantee liabilities are recognised initially an appropriation of profit should be disclosed on the face of Profit
at their fair value, and the initial fair value is amortised over the life and Loss Account.
of the financial guarantee. The financial guarantee liability is xvii. Loans and Advances/Investments net of provision
subsequently carried at the higher of this amortised amount and IFRS: Loans and advances/Investments should be presented net of
the present value of any expected payment when a payment provision.
under the guarantee has become probable. Financial guarantees
are included within other liabilities. Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003,
provision on loans and advances/investments are presented
Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003, separately as liability and can not be netted off against loans and
financial guarantees such as letter of credit, letter of guarantee are advances.
to be treated as off-balance sheet items. No liability is recognised
for the guarantee except the cash margin. Also refer to the Note 2.18 Compliance of International
Accounting Standards (IASs) and International Financial Reporting
x. Cash and cash equivalents Standards (IFRSs)
IFRS: Cash and cash equivalent items should be reported as cash
item as per IAS 7. 2.3 Functional and Presentational Currency
Financial statements of the Bank have been presented in Taka,
Bangladesh Bank: Some cash and cash equivalent items such as which is the Bank’s functional and presentational currency.
‘money at call and short notice’, treasury bills, Bangladesh Bank
bills and prize bonds are not prescribed to be shown as cash and 2.4 Materiality, Aggregation and Offsetting
cash equivalents. Money at call and short notice are presented on The Bank aggregates each material class of similar items and
the face of the balance sheet, and treasury bills, prize bonds are separately which are dissimilar in nature or function unless those
shown in investments. However, in the cash flow statement, are immaterial. The Bank did not offset assets and liabilities or
money at call and short notice and prize bonds are shown as cash income and expense, unless required or permitted by IAS/ IFRS.
and cash equivalents besides cash in hand, balance with
Bangladesh Bank and other banks. 2.5 Basis of measurement
The financial statements have been prepared on the historical cost
xi. Non-banking asset basis except for the following material items:
IFRS: No indication of Non-banking asset is found in any IFRS. - Government Treasury Bills and Bonds designated as ‘Held for
Bangladesh Bank: As per First Schedule (Section 38 of Banking Trading (HFT)’ at present value using mark to market concept
Company Act, 1991 vide BRPD circular no. 14, dated 25 June 2003) with gain credited to revaluation reserve but loss charged to
there must exist a face item named as Non-banking asset with Profit and Loss Account.
duration its obtained under classification of unable to earn or not. - Government Treasury Bills and Bonds designated as ‘Held to
Furthmore, BRPD Circular No -22 dated 20 september 2021 Maturity (HTM)’ at present value using amortization concept.
enumerated the process of account for in the Books of account - Investment in Share and Securities under quoted are valued at
and its disposal. market price revealed in the stock exchange
xii. Cash flow statement - Zero Coupon Bond at present value using amortization
IFRS: The Cash flow statement can be prepared using either the concept.
direct method or the indirect method. The presentation is
2.6 Use of Estimates and Judgments
selected to present these cash flows in a manner that is most
The preparation of financial statements of the Bank required for
appropriate for the business or industry. The method selected is
management to make judgments, estimates and assumptions that
'applied consistently'.
affected the application of accounting policies and the reported
Bangladesh Bank: As per BRPD circular no. 14 dated 25 June 2003, amounts of assets, liabilities, income and expenses. Actual results
cash flow is the mixture of direct and indirect methods. may differ from these estimates.

192
 Estimates and underlying assumptions have been reviewed Certain comparative amounts in the financial statements have
ongoing basis. Revisions of accounting estimates have been been reclassified and rearranged to conform to the current year’s
recognised in the period in which the estimates have been revised presentation.
and in the future periods affected, if applicable.
A. Assets and basis of their valuation
Key estimates includes the following:
i. Cash and cash equivalents
- Loan loss provision Cash and cash equivalents include notes and coins in hand and at
- Deferred Tax Assets/Liabilities ATM, unrestricted balances held with Bangladesh Bank and its
- Provision for other operating expenses agent bank, balance with other banks and financial institutions,
money at call and short notice and prize bond which are not
2.7 Foreign Currency Transactions: ordinarily susceptible to change in value.
Foreign currency transactions have been converted into
equivalent Taka currency at the ruling exchange rates on the Cash equivalents are short term, highly liquid investments that are
respective date of such transactions as per IAS 21 “The Effects of readily convertible into known amounts of cash and which are
Changes in Foreign Exchange Rates” and "balances with other subject to an insignificant risk of changes in value.
banks and financial institutions" have been converted as per
directives of Bangladesh Bank vide circular no. BRPD (R) ii. Investments
717/2004-959 dated 21 November 2004. Investments have been initially recognised at cost, including
acquisition charges associated with the investment. Government
Differences arising through buying and selling transactions of Treasury Bills and Bonds (categorized as HFT or/and HTM) are
foreign currencies on different dates of the year have been accounted for as per Bangladesh Bank DOS circular letter no. 05
adjusted by debiting /crediting exchange gain or loss account. dated 26 May 2008, DOS circular no. 05 dated 28 January 2009 and
DOS Circular no. 02, dated 19 January 2012.
Translation Gain and Losses
Gains or losses arising out of translation of foreign exchange have The valuation methods of investment used are:
been included in the Profit and Loss account.

2.8 Cash Flow Statement Held to Maturity (HTM)

Cash Flow Statement is prepared principally in accordance with Investments which are intended to be held till maturity are
IAS 7 “Cash Flow Statement” under direct method as per the classified as “Held to Maturity”. These are measured at amortized
guidelines of BRPD circular no. 14 dated 25 June 2003. The Cash cost at each year end by taking into account any discount or
Flow Statement shows the structure of and changes in cash and premium on acquisition. Premiums are amortized and
cash equivalents during the year. Cash flows during the period discounted/ accredited, using the effective or historical yield
have been classified as operating activities, investing activities and method. Any increase or decrease in value of such investments is
financing activities. accounted for equity.

2.9 Statement of Changes in Equity Held for Trading (HFT)

Statement of Changes in Equity has been prepared in accordance These are investments primarily held for selling or trading.
with IAS 1 “Presentation of Financial Statements” and following After initial recognition, investments are marked to market
the guidelines of Bangladesh Bank BRPD circular no. 14 dated 25 weekly and any decrease in the present value is recognized in
June 2003. the Profit and Loss Account and any increase is booked to
Revaluation Reserve Account through Profit and Loss Account
2.10 Liquidity Statement
as per Bangladesh Bank DOS Circular no. 05 dated 28 January
The liquidity statement has been prepared in accordance with
2009.
remaining maturity grouping of Assets and Liabilities as at the
close of the year as per following bases:

Particulars Basis of use

Cash, Balance with other banks and financial institutions, Maturity/behavioral trend.
money at call and short notice etc.
Investments Residual maturity term
Loans and advances Repayment/maturity schedule and behavioral trend (non-maturity
products).
Fixed assets Useful life
Other assets Realization/amortization basis.
Borrowing from other banks, financial institutions and agents Maturity/ repayment terms
Deposits and others accounts Maturity and behavioral trend (non-maturity products).
Other long term liability Maturity term.
Provisions and Other liabilities Settlement/adjustment schedule basis.

2.11 Significant Accounting Policies REPO and Reverse REPO

The accounting policies set out below have been applied REPO and Reverse REPO are recorded based on DOS Circular no.
consistently to all periods presented in these financial 06, dated 15 July 2010 of Bangladesh Bank and subsequent
statements, and have been applied consistently except clarification in DOS Circular no 03 dated 30 January 2012 and DOS
otherwise instructed by the Central Bank as prime regulator circular no. 2 dated 23 January 2013. In the case of REPO of both

193
 coupon and non-coupon bearing (Treasury bill) securities, the * According to BRPD Circular Letter No-56 dated December 10,
Bank adjusts the Revaluation Reserve Account for HFT securities 2020, 1% Special Covid Provision as General Provision on Loan
and stops the weekly revaluation (if the revaluation date falls account whose has taken deferral facilities.
within the REPO period) of the same security. For interest bearing ** According to BRPD Circular Letter No-50 and 52 dated
security, the Bank dully accrues interest during REPO period. December 14 and 29, 2021 respectively, 2% Special General
Covid Provision on Loan account whose repaid 25% of their
Investments – Initial recognition and subsequent measurement at loan Installments due for the Year 2021 except CMSME for
a glance 1.5% whose have to repay only 15% of total due installments
Value of investments has been enumerated as follows: for the year 2021.

Initial Measurement after

Investment class Recording of changes
recognition initial recognition
Treasury Bill/Bond (HFT) Cost Fair value Loss to Profit & Loss Account, gain to Revaluation Reserve
through Profit and Loss Account.
Treasury Bill/Bond (HTM) Cos Amortised value Increase or decrease in value to equity.
Debenture/Bond Face value None None
Shares (Quoted) * /** Cost Lower of cost or market value Loss (net) to Profit and Loss Account but no unrealised gain booking.
Prize Bond Cost None None

* Provision has been made on unrealized loss (gain net off) *** Required provision for Loan Reschedule under One time Exit
according to DOS Circular no. 4, dated 24 November 2011. Scheme kept in General Provision and Specific Provision
** Investment in the capital from special fund is reported as cost of
**** However, as per BRPD Circular No. 05, dated March 24, 2021,
acquisition basis and no unrealized loss provided in the profit
All kind Continous loan will not consider as classification loan
and loss account as DOS Circular 01, Dated February 10, 2020
if so expired subject due amount will be paid in Six
iii. Loans, advances and provision Installament with June 30, 2022 and, the same way, Denamd
- Loans and advances are stated at gross amounts at 31 Loan loan will not consider as classification loan if so expired
December 2019 subject due amount will be paid in Six Installament with
- Interest is calculated on a daily product basis but charged and December 30, 2022.
accounted for on accrual basis. Interest on classified loans and iv. Property, Plant and Equipment:
advances will be kept in suspense account as per Bangladesh
Recognition and measurement
Bank instructions and such interest is not accounted for as income
All fixed assets are stated at cost less accumulated depreciation as
until realized from borrowers. Interest is not charged on bad and
per IAS 16 "Property, Plant and Equipment". The cost is the
loss loans/investments as per guideline of Bangladesh Bank.
amount of cash or cash equivalents paid or the fair value of the
- Provision for loans and advances is made on the basis of other consideration given to acquire an asset at the time of
quarter-end review by the management and as per its acquisition or construction or, where applicable, the
instructions contained in BRPD circular no. 14 dated 23 amount attributed to that asset when initially recognised in
September 2012, BRPD circular No. 19 dated 27 December accordance with the specific requirements of the IFRS.
2012, BRPD circular no. 05 dated 29 May 2013, BRPD circular
no. 12 dated 20 August 2017,BRPD Circular No. 16 dated Property, plant & equipment are recognized if it is probable that
November 18, 2014, BRPD Circular No. 12 dated August 20, future economic benefits associated with the assets will flow to
2018 BRPD Circular No. 15 dated 27 September 2018, BRPD the Bank and the cost of the assets can be measured reliably:
Circular No. 01 dated 20 February 2018, BRPD Circular No. 07
The cost of an item of Fixed Assets comprises:
dated 21 June 2018, BRPD Circular No. 03 dated 21 April 2019
and BRPD Circular Letter No. 07 dated 03 March 2020. The - its purchase price, including import duties and non-refundable
rates for provisions are stated below: purchase taxes, after deducting trade discounts and rebates.

General Provision Specific Provision

Types of loans and advances
UC SMA SS DF BL
Credit Card Financing 2% 2% 20% 50% 100%
Housing Finance 1% 1% 20% 50% 100%
Consumer Financing Professionals to set up business 2% 2% 20% 50% 100%
Other Consumers Finance 2% 2% 20% 50% 100%
SMEF Cottage, Micro and Small 0.25% 0.25% 5% 20% 100%
Medium 0.25% 0.25% 20% 50% 100%
Special General Provision-COVID-19 * 1%
Special General Provision-COVID-19 ** 2%/1.5%
Loan Reschedule under One time Exit Scheme *** 50% 50%
Loans to brokerage house/MBs/SDs against Share etc. 2% 2% 20% 50% 100%
Short-term agri-credit and micro credit 1% 0% 5% 5% 100%
All Other Credits 1% 1% 20% 50% 100%
Off balance sheet exposures except Bills for Collection 1%

194
- any costs directly attributable to bringing the asset to the v. Accounting policy for IFRS 16:Leased Assets
location and condition necessary for it to be capable of The Bank has applied “IFRS 16: Lease” using the modified
operating in the manner intended by management. retrospective approach only for the year 2020 though the
- the initial estimate of the costs of dismantling and removing Institute of Chartered Accountants of Bangladesh (ICAB)
the item and restoring the site on which it is located adapted January 01, 2019 and, therefore, the comparative
information has not been restated and continues to be reported
Subsequent costs under IAS 17 and IFRIC 4 (Determining Whether an Arrangement
Subsequent costs are capitalized only when it is probable that the Contains a Lease).
future economic benefits associated with the costs will flow to the
entity and cost can be measured reliably. The carrying amount of vi. Intangible Assets
the replaced portion is derecognized. The costs of day to day According to IFRS-38, an intangible asset is recognized if-
servicing of fixed assets i.e. repairs and maintenance is charged to a. it is probable that the expected future economic benefits that
profit and loss account as expense when incurred. are attributable to the assets will flow to the entity; and
b. the cost of the assets can be measured reliably.
Depreciation
The software used by NRBC Bank represents the value of
- Depreciation on fixed assets is charged on straight-line method computer application software licensed for the use of the Bank.
irrespective of all assets. The rates of depreciation are as follows: Software is carried out at cost less amortization/depreciation and

Category of asset Rate of depreciation

Building and Construction 2.50%

Furniture and Fixtures 10%
Machinery and Plant 20%
Office Equipment 20%
Computer and Computer Equipment 20%
Intangible Assets/Bangladesh Made Computer Software 20%
Motor Vehicles-Office Used 20%
Motor Vehicles-Transport 20%
Professionals and Reference Books 20%
Leasehold Assets - Motor Vehicles 20%

- Depreciation on fixed assets acquired during the year is any impairment losses. Initial cost comprise licensing fees paid at
charged from the month of their acquisition. Full month's the time of purchase along with subsequent payment for user
depreciation is charged in the month of addition irrespective of license and other directly attributable expenditure that are carried
the date of acquisition and no depreciation is charged in the in customization of software for its intended use. Software is
month of their disposal. amortized/depreciated using the straight line method over the
- The cost and accumulated depreciation of disposed assets estimated useful life of 5 (five) years commencing from the month
are eliminated from the fixed assets schedule. at which payment is made in line with third schedule of Income
Ordinance-1984.
- Useful life and method of depreciation of fixed assets will be
reviewed periodically. If useful life of assets do not differ vii. Impairment of Assets
significantly as these were previously estimated, revaluation of An asset is impaired when its carrying amount exceeds its
assets does not consider to be done. recoverable amount as per IAS 36 “Impairment of Assets”. The
- Bank also follows a policy for amortization of expenditure Bank assesses at the end of each reporting period whether there
considering the durability and useful life of items. These are is any indication that an asset may be impaired and/or whenever
treated as intangible assets and are booked under the head events or changes in circumstances indicate that the carrying
“Fixed Assets” and amortized over their estimated useful life by value of the asset may not be recovered. If any such indication
charging under the broad head “Depreciation”. exists, the Bank and the subsidiaries make an estimate of the
recoverable amount of the assets. The carrying amount of the
Derecognition of fixed asset asset is reduced to its recoverable amount, if the recoverable
The carrying amount of an item of fixed assets is derecognized on amount is less than its carrying amount and impairment losses
disposal or when no future economic benefits are expected from are recognized in the profit and loss account. However,
its use or disposal. The gain or loss arising from derecognition of an impairment of financial assets are guided by the relevant BB
item of fixed assets is to be recorded in profit or loss when the item circulars/instructions and IAS 39.
is derecognized.
Depreciation of Property, Plant & Equipment for Tax Purpose No such impairment has been occurred/identified in the financial
The policy of Depreciation for tax purpose is different from year 2021 except Loans and Advances which measured by relevant
accounting depreciation. According to third schedule of income tax Bangladesh Bank Circulars.
ordinance, 1984, Depreciation is application on annual basis
whatever it’s purchased or to become workable condition. viii. Other Assets
Equipment & Machinery in the Assets Management Software Other assets include advance for operating and capital
divided into Computer and Computer Equipment, Bangladesh Made expenditure, stocks of stationary and stamps, security deposits to
Computer Software and Office Equipment & Machinery for government agencies etc. and such accounts may be quite
accounting & tax purposes shown in the annexure-G & H. Differences insignificant in the overall financial condition of the Bank.
of deprecation shall have effect on deferred assets or liabilities.

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ix. Non-banking Assets: ix. Provision for nostro account balance.
There are no assets acquired in exchange for loan during the As per instructions contained in the circular letter no. FEPD
period of financial statements. (FEMO)/01/2005-677 dated 13 September 2005 issued by Foreign
Exchange Policy Department of Bangladesh Bank, provision is to
B Liabilities and Provisions: be maintained for the un-reconciled debit balance of Nostro
i. Borrowings account more than 3 months as on the reporting date in these
financials.
Borrowings include call money, term borrowings and re-finance
from other banks, financial institutions and Central Bank include Since there is no unreconciled entries which are outstanding for
interest bearing borrowings which are stated in the financial more than 3 months, Thereafter no provision has been made.
statements at principal amount of the outstanding balance.
Interest payables on such borrowings are reported under other x. Provision for liabilities and accrued expenses
liabilities. A provision is recognised in the balance sheet when the Bank has
ii. Deposits and Other Accounts legal or constructive obligations as a result of past events and it is
probable that an outflow of economic benefit will be required to
Deposits and other accounts include non-interest bearing current
settle the obligations, in accordance with IAS 37 “Provision,
deposits redeemable at call, interest bearing short-term deposits,
Contingent Liabilities and Contingent Assets”.
savings deposits and fixed deposits which are initially measured at
the consideration received. These items are subsequently
No provision is recognised for any possible obligation that arises
measured and accounted for at the gross value of the outstanding
from past events and the existence of which will be confirmed only
balance in accordance with the contractual agreements with the
by the occurrence or non-occurrence of one or more uncertain
counter parties.
future events not wholly within the control of the Bank, or any
iii. Other liabilities present obligation that arises from past events and it is not
Other liabilities are comprised of items such as provision for loans probable that an outflow of resources embodying economic
and advances/ investments, provision for taxes, interest payable benefits will be required to settle the obligation, or a reliable
on borrowing, interest suspense and accrued expenses etc. estimates of the amount of obligation cannot be made. However,
Individual item-wise liabilities are recognized as per the guidelines certain provisions on assets and liabilities are maintained in
of Bangladesh Bank and International Financial Reporting accordance with relevant Bangladesh Bank Circulars issued from
Standards (IFRS). time to time.

iv. Dividend Payable/Declaration xi. Contingent liabilities

Dividend payable is recognized when it is recommended by Board Contingent liabilities which include certain guarantees and letters
of Directors. Final dividend is recognized when it is approved by of credit pledged as collateral are possible obligations that arise
the shareholders in AGM. Any dividend yet to propose/confirm for from past events whose existence will be confirmed only by the
the year 2021, therefore, it has not been recognized as a liability in occurrence or non-occurrence of one or more uncertain future
the balance sheet in accordance with IAS 10: “Events after the events not within the control of the Bank. Contingent liabilities are
Reporting Period”. Dividend payable to the Bank’s shareholders is not recognized in the financial statements as per IAS 37
recognized as a liability if it is approved by the Shareholder in the “Provisions, Contingent Liabilities and Contingent Assets”.
Annual General Meeting and there upon shareholders’ right to However, disclosure on contingent liabilities have been made on
receive the payment will be established. the face of balance sheet under “Off-balance Sheet Items” as per
the guidelines of BRPD Circular No. 14 dated 25 June 2003.
v. Provision for loans and advances
Provision for unclassified loans and advances is made on the C Share Capital and Reserves
basis of quarter end review as instructions contained in BRPD i. Authorized and issued capital
Circular no. 14 dated 23 September 2012 and BRPD Circular no. The Authorized Capital of the Bank is the maximum amount of
19 dated 27 December 2012. Details are stated in Note 13.01 and share capital that the bank is authorized by its Memorandum and
13.02. Articles of Association to issue (allocate) among shareholders. Part
of the authorized capital can (and frequently does) remain
vi. Provision for investment in capital market
unissued. This number can be changed by shareholders’ approval
For recognition of loss suffered from investment in capital market, upon fulfillment of related provisions of Companies Act 1994. The
provision has been made on unrealized loss (gain net off) part of the authorized capital which has been issued to
according to DOS Circular No. 04 dated 24 November 2011 on shareholders is referred to as the Issued Share Capital of the bank.
portfolio basis. However, Clause cha (2)(i) of DOS Circular 01,
Dated February 10, 2020, no provision have to be provided till Herewith ordinary shares are classified as equity which is
February 2025 for investment in the capital market by scheme of transferable to another person/institution as restriction of
special Fund. transfer being expired.

vii. Provision for off-balance sheet exposures ii Paid-up capital

In compliance with Bangladesh Bank guidelines, contingent The paid-up capital represents the amount of Bank’s capital that
liabilities have been disclosed under off-balance sheet items. As has been contributed by ordinary shareholders. The holders of
per BRPD Circular no.14 dated 23 September 2012 and related ordinary shares are entitled to receive dividend as recommended
earlier circulars, the bank has been maintaining provision @ 1% by the Board and subsequently approved by the shareholders
against certain off-balance sheet exposures. from time to time in the Annual General Meeting (AGM).

viii. Provision for other assets Paid up capital stood at Tk. 7,025.00 million through IPO
Provision for other assets is made as per the guidelines subscription of Tk. 1,200.00 Million from February 3 to February 9,
mentioned (100% provision is required on ther assets which are 2021 followed by Bangladesh Securities Exchange Commission
outstanding for one year and above) in the BRPD Circular No. 14 consent letter no.BSEC/CI/IPO-307/2020/304, dated January 4,
dated 25 June 2001. 2021 and subsequently listed in DSE and CSE. The DSE accord the

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 trading vide letter no. DSE/Listing/ULC/2021/1948 dated March v. Income from Exchange
16, 2021 as DSE Trading Code for NRB Commercial Bank Limited is Exchange income includes all gains and losses from foreign
"NRBCBANK" and DSE Company Code is 11150 under 'Bank' currency's day to day transactions, conversions and revaluation of
sector. On the other hand, The CSE accord the trading Vide letter Non-Monetary items.
no. CSE/RAD/LD/NRBCBANK/Trade dated March 18, 2021 as CSE
trading code for the scrip is 'NRBCBANK' and CSE Company ID is vi. Dividend income
"22034" before recommed by Board of Directors in its 119th Dividend income from investments is recognized at the time when
Meeting held on April 29, 2021. it is declared, ascertained and right to receive the payment is
established.
Paid up capital stood at Tk. 7376.00 million after dully approved
5% stock dividend on basis of record date May 31, 2021 on 8th vi. Interest paid on Deposits and Borrowings
Annual General Meeting (AGM) held on June 26, 2021. Interest paid on deposits, borrowings, etc. is accounted for on
No diluation effect exist while authorized to Issue of Audited accrual basis according to the IAS 1 “Presentation of Financial
Financial Statements except restated EPS of the previous year for Statements”.
comparision with the present year. vii. Profit paid on deposits (Islamic Banking)
iii. Statutory reserve Profit paid to mudaraba deposits is recognised on accrual basis
according to Income Sharing Ratio (ISR).
In compliance with the provision of Section 24 of Bank Companies
Act 1991, the bank transfers at least 20% of its profit before tax to viii. Management and other expense
“Statutory Reserve Fund” each year until the sum of statutory Expenses incurred by the Bank are recognised on actual and
reserve and share premium equals to the paid up capital of the accrual basis.
bank.
ix. Taxation
iv. Asset revaluation reserve
The expense is comprised of current and deferred tax. Current tax
When an asset’s carrying amount is increased as a result of and deferred tax are recognized in profit or loss except to the
revaluation, the increased amount is credited directly to equity extent that it relates to a business combination or items
under the heading of assets revaluation reserve as per IAS 16- recognized directly in equity.
“Property, Plant and Equipment”. The bank is also required to follow
the asset's revaluation guidelines issued by BSEC on 18 August 2013. a. Current Tax
The tax currently payable is based on taxable profit for the year.
No asset's revaluation has occurred during the reported financial
Taxable profit differs from profit as reported in the income
year
statement because it excludes items of income or expense that are
v. Reserve for Amortization/revaluation of securities taxable or deductible in other years and it further excludes items
When a Financial Asset is catagorised under HTM or HFT and that are never taxable or deductible. The Bank’s liability for current
subsequent value of the asset is increased as a result of tax is calculated using tax rates that have been enacted or
amortisation of assets or mark to market revaluation, the net substantively enacted by the balance sheet date.
increased amount (for HTM increase or decrease of book value Provision for current income tax has been made on taxable income
and for HFT loss to P&L but gain to revaluation reserve through of the Bank @ 37.5% (except other business income i.e. Tax @0%
P&L) is credited directly to equity under the heading of reserve for on gain of govt. securities under section 32(7), Tax @0% on capital
amortization/revaluation of securities as per Bangladesh Bank gain for sale of freehold assets subject to new assets purachsed
DOS circular no. 06, dated 15 July 2010. that must be morethan capital gain for the year under section
D Revenue Recognition 32(5B). Tax @ 20% on Winning of Govt Prize Bond U/S 55, Tax@
10% on capital gain of trading shares in Secondary Market and
I. Interest Income 20% on dividend income as per SRO no.196/2015) as prescribed in
According to the IFRS 15 "Revenue from Contracts with the Income Tax Ordinance 1984.
Customers", the interest income is recognized on accrual basis.
Interest on loans and advances ceases to be taken into income b. Deferred Tax
when such advances are classified as per BRPD circular no. 19 Deferred tax is recognized on differences between the carrying
dated 27 December 2012 and is kept in interest suspense account. amounts of assets and liabilities in the financial statements and
Interest on classified advances is accounted for as income when the corresponding tax bases used in the computation of taxable
realized. profit, and are accounted for using the balance sheet liability
method. Deferred tax liabilities are generally recognized for all
ii. Profit on investment (Islamic Banking) taxable temporary differences and deferred tax assets are
Mark-up on investment is taken into income account recognized to the extent that it is probable that taxable profits will
p ro p o r t i o n a t e l y f ro m U n e a r n e d I n c o m e a c c o u n t . be available against which deductible temporary differences,
Income/compensation on classified investments is transferred to unused tax losses or unused tax credits can be utilized. Such assets
profit/rent/compensation/suspense account instead of income and liabilities are not recognized if the temporary difference arises
account. from goodwill or from the initial recognition (other than in a
business combination) of other assets and liabilities in a
iii. Interest income from investments transaction that affects neither the taxable profit nor the
Interest income on investments in Government and other accounting profit.
securities, debentures and bonds is accounted for on accrual basis.
Deferred tax liabilities are recognized for taxable temporary
iv. Fees and Commission Income differences arising on investments in subsidiaries and associates,
Fees and commission income on services provided by the Bank are and interests in joint ventures, except where the Bank is able to
recognised as and when the services are rendered. Commission control the reversal of the temporary difference and it is probable
charged to customers on letters of credit and letters of guarantee that the temporary difference will not reverse in the foreseeable
is credited to income at the time of effecting the transactions. future.

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 The carrying amount of deferred tax assets is reviewed at each Staff Gratuity Fund
balance sheet date and reduced to the extent that it is no longer The Bank operates a funded gratuity scheme approved by the
probable that sufficient taxable profits will be available to allow all National Board of Revenue with effect from 21 September 2014.
or part of the asset to be recovered. The Gratuity Fund is managed separately by, “NRB Commercial
Bank Limited Employees' Gratuity Fund Trust” and any
Deferred tax is calculated at the tax rates that are expected to investment decision out of this fund is also made by this Trust.
apply in the period when the liability is settled or the asset is The benefit is paid to the eligible employees i.e. who have
realized, based on tax rates that have been enacted or completed minimum 3 (three) years of continuous service at the
substantively enacted by the balance sheet date. Deferred tax is time of separation from the Bank. As per policy of the Bank,
charged or credited to the income statement, except when it eligible employees are provided with the benefit equal to 2
relates to items charged or credited directly to equity, in which monthly basic salary multiplied by varied rates as per service
case the deferred tax is also dealt with in equity. length.

Deferred tax assets and liabilities are offset when there is a legally 2.12 Reconciliation of Books of Account
enforceable right to set off current tax assets against current tax
Books of accounts with regard to inter-bank (in Bangladesh and
liabilities and when they relate to income taxes levied by the same
outside Bangladesh) and inter-branch transactions are reconciled
taxation authority and the company intends to settle its current
and no material difference was found which may affect the
tax assets and liabilities on a net basis.
financial statements significantly.
The impact on the account of changes in the deferred tax assets
2.13 Earnings Per Share (EPS)
and liabilities has also been recognized in the Profit and Loss
Statement as per IAS-12 "Income Taxes" (note 39) and BRPD Basic Earnings Per Share
Circular no. 11 dated 12 December 2011. Basic earnings per share has been calculated in accordance with
IAS 33 "Earnings Per Share" which has been shown in the face of
ix. Retirement/post-employment benefits the Profit and Loss Statement. This has been calculated by
The retirement benefits accrued for the employees of the Bank as dividing the basic earnings by the total ordinary outstanding
on the reporting date have been accounted for in accordance with shares.
the provision of IAS 19 "Employee Benefit". Bases of enumerating
the retirement benefit schemes operated by the Bank are outlined Diluted Earnings Per Share
below: Diluted EPS is a calculation used to gauge the quality of a company's
earnings per share (EPS) if all convertible securities were exercised.
a) Defined contribution plans Convertible securities are all outstanding convertible preferred
Defined contribution plans are post-employment benefit plans shares, convertible debentures, stock options, and warrants. NRBC
under which payments into the plan are fixed. Subsequent did not offer any option or no option of exercise prevail to the
payments out of the plan to retired members are based on the investors before authorized to isssue by Board of Directors.
size of the ‘fund’ meaning contributions that have been made
into the scheme and investment returns on scheme assets. The Earnings per share (EPS)-[Restated]
Bank maintains one funded defined contribution plan i.e. The Shareholders in its 8th Annual General Meeting (AGM) held on
“Provident fund” for its employees under a separate trustee June 26, 2021 dully approved 5% stock dividend on basis of record
board. date May 31, 2021, hence Number of shares stood 737.60
million@ Tk. 10 Per.
Provident Fund
The Bank operates a contributory provident fund for its Therefore, it’s become inevitable to restated the Earning Per Share
permanent employees funded by both the employees and the (EPS) for the year end 2020 for comparison with the current year in
Bank equally; employees contribute 10% of basic salary and the persuasion of relevant Act of Bangladesh Securities Exchange
Bank contributes an equal amount. The Bank’s contribution is Commission (BSEC).
made each month and recorded under salary and allowances. This
fund is managed by a separate trustee board i.e. “NRB Commercial 2.14 Directors’ Responsibility on Statements
Bank Limited Employees' Provident Fund” and any investment The Board of Directors takes the responsibility for the
decision out of this fund is made separately from that of the Bank’s preparation and presentation of these financial statements.
funds. This fund has received approval from the National Board of
Revenue on 02 September 2014. 2.15 Memorandum items
Memorandum items are maintained to have control over all
b) Defined benefit important items and for such transactions where the Bank has
Defined benefit plans are post-employment benefit plan other only a business responsibility and no legal commitment. Bills for
than defined contribution plans. These plans define the amount collection, Stock of Govt. savings certificates and all other fall
that retired members will receive from the plans during under the memorandum items. However, Bills for Collection is
retirement, by reference to factors such as length of service and shown under contingent liabilities as per Bangladesh Bank’s
salary levels. Contributions are paid into the scheme based on format of reporting.
policy of the plan approved by Board of Directors of its 2nd
meeting held on 02 March 2013. The Bank retains an obligation to 2.16 Off-Balance Sheet Items
make up any shortfall in a plan, thereby bearing the risk of the plan Off-Balance Sheet items have been disclosed under contingent
under-performing. The Bank maintains one funded defined liabilities and other commitments as per Bangladesh Bank's
benefit plans “Gratuity fund” for its employees under separate guidelines.
trustee committee.

198
 In accordance with BRPD circular no.14 dated 23 September 2012 b. whose operating results are regularly reviewed by the entity’s
and BRPD Circular No. 07 dated 21 June 2018, general provision @ chief operating decision maker to make decisions about
1% has been made on the outstanding balances of Off-Balance resources to be allocated to the segment and assess its
Sheet exposure except Bills for collection of the Bank as at 31 performances, and
December 2018. Provision is made on the total exposure and c. for which discrete financial information is available
amount of cash margin or value of eligible collateral is not
deducted while computing Off-Balance sheet exposure. Bank reported its segments in respect of business segment and
geographical segment. Business segments are comprised of
2.17 Reporting Period Conventional Banking, Islamic Banking, Offshore Banking Unit
These financial statements of the Bank cover one calendar year (OBU)and NRBC Bank Securities Limited. Geographical segments
from 1 January to 31 December report consist of location wise performance of above segments.)

2.18 Segment Reporting 2.19 Compliance of International Accounting Standard (IAS) and
As per IFRS 8 “Operating Segments”, is a component of an equity: International Financial Reporting Standards (IFRS)
a. that engages in business activities from which it may earn While preparing the financial statements, Bank applied most of
revenues and incur expenses (including revenues and the International Accounting Standards (IAS) and International
expenses relating to transactions with other components of Financial Reporting Standards (IFRS) as adopted by the Institute of
the same entity) Chartered Accountants of Bangladesh as applicable to the Bank:

SL No. Name of IAS No. of IAS Status

1 Presentation of Financial Statements 1 Complied *
2 Inventories 2 Complied
3 Statement of Cash Flows 7 Complied
4 Accounting Policies, Changes in Accounting Estimates and Errors 8 Complied
5 Events after the Reporting Period 10 Complied
6 Income Taxes 12 Complied
7 Property, Plant and Equipment 16 Complied *
8 Employee Benefits 19 Complied
9 Accounting for Government Grants and Disclosure of Government Assistance 20 N/A
10 The Effects of Changes in Foreign Exchanges Rates 21 Complied
11 Borrowing Costs 23 Complied
12 Related Party Disclosures 24 Complied
13 Accounting and Reporting by Retirement Benefit Plans 26 N/A **
14 Separate Financial Statements 27 Complied
15 Investments in Associates 28 N/A
16 Financial Reporting in Hyper inflationary Economics 29 N/A
17 Financial Instruments: Presentation 32 Complied *
18 Earnings Per Share 33 Complied
19 Interim Financial Reporting 34 Complied
20 Impairment of Assets 36 Complied
21 Provisions, Contingent Liabilities and Contingent Assets 37 Complied
22 Intangible Assets 38 Complied
23 Financial Instruments: Recognition and Measurement 39 Complied *
24 Investment Property 40 Complied
25 Agriculture 41 N/A

SL No. Name of IFRS No. of IFRS Status

1 First-time Adoption of International Financial Reporting Standards 1 N/A
2 Share Based Payment 2 N/A
3 Business Combinations 3 N/A
4 Insurance Contracts 4 N/A
5 Non-Current Assets Held for Sale and Discontinued Operations 5 N/A
6 Exploration for and Evaluation of Mineral Resources 6 N/A
7 Financial Instruments: Disclosures 7 Complied *
8 Operating Segments 8 N/A

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 SL No. Name of IFRS No. of IFRS Status
9 Financial Instruments 9 Complied
10 Consolidated Financial Statements 10 Complied
11 Joint Arrangements 11 N/A
12 Disclosure of Interests in Other Entities 12 Complied
13 Fair Value Measurement 13 Complied *
14 Regulatory Deferral Accounts 14 N/A
15 Revenue from Contract with Customers 15 Complied *
16 Lease 16 Complied
17 Insurance Contracts 17 N/A

* In order to comply with certain specific rules and regulations assessing risk in lending to a particular customer, sanctioning
of the local Central Bank (Bangladesh Bank) and National credit, formulating policy / strategy for lending operation, etc.
Board of Revenue which are different to IAS/IFRS, some of the
requirements specified in these IAS/IFRSs are not applied. A thorough assessment is done before sanction of any credit
Departure from IAS/IFRS mentioned in the note 2.1. facility at Credit Risk Management Division. The risk assessment
includes borrower risk analysis, financial analysis, industry
** This Standard regards a retirement benefit plan as a reporting analysis, historical performance of the customer, security of the
entity separate from the employers of the participants in the proposed credit facility, etc. The assessment process starts at
plan. Therefore, it is not applicable for the Bank’s annual report Corporate Division by the Relationship Manager/Officer and ends
as it is the employer and not the retirement benefit plan itself. at Credit Risk Management Division when it is approved/declined
2.20 Regulatory and Legal Compliance by the competent authority. Credit approval authority has been
The Bank complied with the requirements of the following delegated to the individual executives. Proposals beyond their
regulatory and legal authorities: delegation are approved/declined by credit committee or the
Management of the Bank or/the Executive Committee.
i) The Banking Companies Act 1991 (amendment upto 2018) Concentration of credit risk is shown in note -7.7.
ii) The Companies Act 1994
iii) Rules, regulations and circulars issued by the Bangladesh In determining a single borrower/large loan limit, the instructions
Bank from time to time of Bangladesh Bank are strictly followed. Internal audit is
conducted at periodical intervals to ensure compliance of Bank’s
iv) The Securities and Exchange Rules 1987
and Regulatory polices. Loans are classified as per Bangladesh
v) The Income Tax Ordinance 1984 and Rules Bank’s guidelines. Concentration of single borrowers/large loan
vi) The Value Added Tax (VAT) 2012 and Rules 2016 limits is shown in note- 7.7.
2.21 Risk Management 2.21.2 Operational Risk
Risk is defined as uncertainties resulting in adverse variation of Operational risk may arise from error and fraud due to lack of
profitability or in losses, financial or otherwise. The risk internal control and compliance. Management through Internal
management of the Bank covers core risk areas of banking viz, Control and Compliance Division controls operational procedure
credit risk, liquidity risk, market risk that includes foreign of the Bank. Internal Control and Compliance Division undertakes
exchange risk, interest rate risk, equity risk, operational risk and periodical and special audit of the branches and departments at
reputation risk. The objective of the risk management is that the the Head Office for review of the operation and compliance of
Bank evaluates and takes well calculative business risks and statutory requirements. The Audit Committee of the Board
thereby safeguarding the Bank's capital, its financial resources subsequently reviews the reports of the Internal Control and
and profitability from various business risks through its own Compliance Division.
measures and through implementing Bangladesh Bank's
guidelines and following some of the best practices as under: 2.21.3 Market Risk
The exposure of market risk of the Bank is restricted to foreign
2.21.1 Credit Risk exchange risk, interest rate risk and equity risk.
It arises mainly from lending, trade finance and treasury
businesses. This can be described as potential loss arising from Foreign Exchange Risk
the failure of a counter party to perform as per contractual Foreign exchange risk is defined as the potential change in
agreement with the Bank. The failure may result form earnings due to change in market prices. The foreign exchange
unwillingness of the counter party or decline in his/ her financial risk of the Bank is minimal as all the transactions are carried out
condition. Therefore, the Bank's credit risk management on behalf of the customers against underlying L/C commitments
activities have been designed to address all these issues. and other remittance requirements. Foreign exchange dealing on
Bank’s account was accounted & reconciled during the year.
The Bank has segregated duties of the officers/executives
involved in credit related activities. A separate Corporate Division Front Office of Treasury Division and International Division jointly
has been formed at Head Office which is entrusted with the conducted the foreign exchange transactions and the Mid Office
duties of maintaining effective relationship with the customers, and the Back Office of Treasury Division is responsible for
marketing of credit products, exploring new business verification of the deals and passing of their entries in the books of
opportunities, etc. Moreover, credit approval, administration, account. All foreign exchange transactions are revalued at Market
monitoring and recovery functions have been segregated. For rate as determined by Bangladesh Bank at the month end. All
this purpose, two separate divisions have been formed within the Nostro accounts are reconciled on a monthly basis and
Credit Division. These are (a) Credit Risk Management Division outstanding entry is reviewed by the Management for its
and (b) Credit Administration Division. Credit Risk Management settlement. The position maintained by the Bank at the end of day
Division is entrusted with the duties of maintaining asset quality, was within the stipulated limit prescribed by the Bangladesh Bank.

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 Interest Rate Risk 2.21.8 Prevention of Fraud and Forgeries
Interest rate risk may arise from trading portfolio and non-trading As per the requirement of Bangladesh Bank regular reportings are
portfolio. The trading portfolio of the Bank consists of made on self assessment of various anti fraud controls as well as
government treasury bills, bond, etc. The short term movement any incident of fraud and forgeries that have been identified by
in interest rate is negligible or nil. Interest rate risk of non trading the Bank. Regular staff training and awareness programs are
business arises from mismatches between the future yield of an taken to ensure that all officers and staff of the Bank are fully
asset and its funding cost. Asset Liability Committee (ALCO) aware of various fraud risks in their work area and prepare them
monitors the interest rate movement on a regular basis. to deal efficiently.
Equity Position Risk However, no such incident of fraud and forgeries has not been
Equity risk arises from movement in market value of equities held. identified in the period ended June 30, 2020
The NRBC Bank duly exposed the risk capital market movement and
necessary provision has been made on diminution value in share. 2.22 Credit rating of the Bank
Emerging Credit Rating Limited (ECRL) was engaged by the Bank
2.21.4 Liquidity Risk comprising Asset Liability Management Risk for the purpose of rating the bank as per BRPD Circular No. 6
The object of liquidity risk management is to ensure that all dated5 July 2006, The following ratings have been awarded:
foreseeable funding commitments and deposit withdrawals can
be met when due. To this end, the Bank is maintaining a diversified 2.23 Events after Reporting Period
and stable funding base comprising of core retail and corporate As per IAS -10 "Events after Reporting Period" events after the
deposits and institutional balance. Management of liquidity and reporting period are those events, favourable and unfavourable,
funding is carried out by Treasury Department under approved that occur between the end of the reporting period and the date
policy guidelines. Treasury front office is supported by a very when the financial statements are authorised for issue. Two types
structured Back office. The Liquidity management is monitored by of events can be identified:
Asset Liability Committee (ALCO) on a regular basis. A written a) those that provide evidence of conditions that existed at the
contingency plan is in place to manage extreme situation. end of the reporting period (adjusting events after the
2.21.5 Money Laundering Risk reporting period); and
Money laundering risk is defined as the loss of reputation and b) those that are indicative of conditions that arose after the
expenses incurred as penalty for being negligent in prevention of reporting period (no adjusting events after the reporting
money laundering. For mitigating the risks, the Bank has a period).
designated Chief Compliance Officer at Head Office and In pursuance of para (b) as mentioned above, event after reporting
Compliance Officers at branches, who independently review the period is in the Note-49
transactions of the accounts to verify suspicious transactions.
Manuals for prevention of money laundering have been 2.24 Related party disclosures
established and transaction profile has been introduced. Training
is continuously given to all the category of Officers and Executives A party is related to the company if:
for developing awareness and skill for identifying suspicious i) directly or indirectly through one or more intermediaries, the
activities/transactions. party controls, is controlled by, or is under common control with,
the company; has an interest in the company that gives it
2.21.6 Information & Communication Technology (ICT) Security Risk significant influence over the company; or has joint control over
ICT security risk management is a threat to an information the company;
technology, data, critical systems and business processes. Bank ii) the party is an associate;
exposed these risks through defining clear policies and iii) the party is a joint venture;
procedure by assigning roles and responsibilities of the
personnel, ongoing risk assessment, mitigation of risk involving iv) the party is a member of the key management personnel of the
prioritization of the risk sensitive area and implementing risk Company or its parent;
control mechanism, and establishing Data Centre (DC) & Disaster v) the party is a close member of the family of any individual referred
Recovery (DR) for physical security of ICT. to in (i) or (iv);
vi) the party is an entity that is controlled, jointly controlled or
2.21.7 Internal Audit significantly influenced by or for which significant voting power in
The Bank has established an independent internal audit function such entity resides with, directly or indirectly, any individual
with the head of internal control & compliance (ICC) reporting referred to in (iv) or (v); or
directly to the chairman of audit committee. The internal audit vii) the party is a post-employment benefit plan for the benefit of
team performs risk based audit on various business and employees of the company, or of any entity that is a related party
operational areas of the Bank on continuous basis. The audit of the company.
committee and the Board regularly reviews the internal audit
reports as well as monitor progress of previous findings. Details of the related party transactions have been disclosed in Annexure-I

Particulars Periods Date of Rating Long term Short term

Initial Entity Rating 18 April to December 2013 24-Jun-14 BBB+ ST-3
Surveillance Rating 2014 22-Feb-15 A- ST-3
Surveillance Rating 2015 30-Mar-16 A ST-3
Surveillance Rating 2016 4-Apr-17 A ST-3
Surveillance Rating 2017 23-Jun-18 A ST-3
Surveillance Rating 2018 30-May-19 A ST-2
Surveillance Rating 2019 19-Aug-20 A ST-2
Surveillance Rating 2020 24-Jun-21 A ST-2

201
2.25 Implementation of IFRS 16 and its relevant assumptions any, and adjusted for certain remeasurements of lease liability.
IFRS 16: "Leases" came into force on 01 January 2019, as adopted Right-of-use assets are recognized using cost model.
by the Institute of Chartered Accountants of Bangladesh (ICAB).
Lease liabilities against right-of-use assets
But NRBC applied the IFRS 16 one year later i.e., from o1 January
2020 using the modified retrospective approach considering The lease liability is initially measured at present value of lease
threshold level with the paid capital where the Bank measured the payments to be made over lease term, discounted using bank’s
lease liability at the present value of the remaining lease incremental weighted average borrowing rate. The lease liability
payments, discounted it using the bank's incremental borrowing shall be subsequently measured at amortized cost using the
rate at the date of initial application, and recognized a right-of-use effective interest rate method i.e. increase by interest cost on
asset at the date of initial application based on following criteria: lease liability and decrease by lease payments made.
i. Materiality threshold is 3.45% of the discounted lease liability for
Short-term leases and leases of low-value asset along with
the year 2020 (up to Lease term with lessor) of capital of the Bank
threshold level 1% of capital.
Tk.7,025,169,980 (including IPO subscription) for right of use of
assets The bank applies threshold below 1% discounted lease payment
of paid-up capital for time being. Apartment from this, the bank
Bank Extend the application of IFRS 16 under modified also applies the short-term lease recognition exemption to its
retrospective approach effect from Januray 01, 2021 taking into short-term leases (i.e., those leases that have a lease term of 12
consideration of 18 Branches having morethan 5 Years lease term.
months or less from the commencement date and do not
Hence, Materiality threshold is 10.40% of the discounted lease
contain a purchase option). It also applies the lease of low-value
liability for the year 2021 (up to Lease term with lessor) of capital
assets recognition exemption to leases that are low value.
of the Bank Tk.7,376,428,479 for right of use of assets
Lease payments on short-term leases and leases of low-value
ii. Implicit incremental borrowing rate is used for discounting the assets are recognized as expense on a straight-line basis over the
lease payment based on Treasury bill/bond rate supporting lease lease term.
tenor 2 -7 years. As such 5 years T-bill/bond rate 8.86% of January
2020 has been used for those contracts having weighted average 2.26 Country Risk Management (CRM) Exposures
lease tenor of 5 years or more implemented from the date of initial According to BRPD Circular No-07 dated 13 April 2021 enumerate
application (01 January 2020).
the Guideline of the Country Risk Management (GCRM) for Banks
Like as previous year as mentioned above, Implicit incremental that have to disclosed in the Note to the account.
borrowing rate is 4.24% of the 5 Years Treasury Bond Rate of
January 2021 for initial application from January 01, 2021. i. The Risk Category-wise country exposure:

Total Equivalent Risk

Country Exposure [Tk.] % Of Total Provision Required
Assets (Tk) Rating Of Category
Assets in % Provision
S&P And Fitch
USA 1,669,546,008 153,552,383,933 1.09% AA+ Insignificant 0% Not Applicable
INDIA 50,677,349 0.03% BBB- Marginal 1% Not Applicable
UK 14,733,212 0.01% AA Insignificant 0% Not Applicable
JAPAN 2,518,846 0.00% A+ Low 0.25% Not Applicable
SOUTH KOREA 8,596,058 0.01% AA Insignificant 0% Not Applicable
PAKISTAN 1,114,494 0.00% B- Moderate 5% Not Applicable
ITALY 567,936 0.00% BBB Marginal 1% Not Applicable
CHINA 3,146,595 0.00% A+ Low 0.25% Not Applicable
UAE 29,411,456 0.02% AA Insignificant 0% Not Applicable
Total 1,780,311,955 1.16%

iii. Right-of-use assets are being depreciated over the respective ii. The extent of aggregate provisions held against the country risk:
lease term. As per "Guidelines on Country Risk Management (GCRM) for
iv. fixed payments, including in-substance fixed payments (if any) Banks" issued by Bangladesh Bank through BRPD circular No 7
dated 13 April 2021, Bank calculated risk category-wise country
v. amounts expected to be payable under a residual value guarantee exposure and required provision thereof. As, net funded exposure
(if any); and for any country have not exceeded the 2% of Total Assets,
vi. Lease term as the non-cancellable term of the lease, together with Therefore, no provision is required against country risk exposure.
any periods covered by an option to extend the lease if it is
reasonably certain to be exercised, or any periods covered by an 2.27 Audit Committee of the Board of Directors
option to terminate the lease, if it is reasonably certain not to be i) Functions of the Audit Committee
exercised.
The Audit Committee is a Committee of the Board of Directors
Right-of-use assets responsible for oversight of the financial reporting process,
The right-of-use asset is initially measured based on the initial selection of the external auditor, and review of the audit reports,
amount of the lease liability adjusted for any lease payments made both internal & external. The Committee assists the Board of
at or before the commencement date, plus any initial direct costs Directors to fulfill its corporate governance and oversee the
incurred. The right-of-use assets are subsequently depreciated responsibilities in relation to the entity’s financial reporting,
over the lease term using a straight-line basis as it closely reflects internal control system, internal & external audit functions and
the expected pattern of consumption of future economic benefits. compliance with applicable laws, rules & regulations. The main
The right-of-use assets are to be reduced by impairment losses, if responsibilities of the Audit Committee are as follows:

202
 - Review the adequacy of Internal Control System, c. Reviewed the Audited Financial Statements of the Bank for the
- Review Financial Reporting Process & Financial Statements, year ended on 31st Dec. 2020 along with the Auditors’ Report
- Review Internal Audit & Inspection Reports and External thereon and recommended to forward the same to the Board
Auditors Report (Management Report), for consideration.
- Monitor the Internal Control Risk Management Process and d. Reviewed the Quarterly Un-Audited Financial Statements of
Compliance culture, the Bank for the year 2021, prepared as per Bangladesh
Securities and Exchange Commission Notification No.
- Recommendation for appointment of External Auditors,
BSEC/CMRRCD/2006-158/208/ Admin/81 dated 20.06.2018,
- Compliance of rules & regulations, etc. to evaluate the quarterly performances of the Bank and
ii) Particulars of Audit Committee recommended to forward the same to the Board of Directors
of the Bank for consideration.
The present Audit Committee of the Board was reconstituted in
the 108th Meeting of the Board of Directors held on November 30, e. Recommended the appointment of Statutory Auditors for the
2020 in accordance with the BRPD Circular No. 11 dated October financial year 2021 of the Bank.
27, 2013 issued by Bangladesh Bank comprising 05 (five) directors f. Revised the NRBC Bank ICC Policy 2017 through inclusion of
of the Board including 02 (two) independent directors: Guidelines of Shari`ah Audit & Inspection, standard format for
preparing Inspection Report by the Internal Auditors and for
As per regulatory guidelines, the Company Secretary of the Bank conducting Distance Audit by using Distance Audit Checklist
acts as the Secretary to the Audit Committee. Senior Officials of and amended the risk-based Audit frequency.
the Bank attend the Meetings on invitation.

SL Name Status with the Committee Status with the Board

1 Mr. Air Chief Marshal Abu Esrar (Retd) Chairman Independent Director
2 Mr. Rafikul Islam Mia Arzoo Member Director & Vice Chairman
3 Mr. Mohammed Nazim Member Director
4 Mr. AKM Mostafizur Rahman Member Director
5 Mr. Raad Mozib Lalon, Phd Member Independent Director

Meetings of the Audit Committee and Major Focused Areas g. Reviewed the major findings identified by the Internal
Bangladesh Bank has suggested Banks to hold at least 04 Auditors from their Internal Inspection Reports and
meetings in a year. The Audit Committee of NRB Commercial Bangladesh Bank Auditors from their Inspection Reports and
Bank Limited held 05 (five) meetings in the year 2021 and had advised the Management of the Bank to take corrective steps
had detailed discussions and review sessions with the Head of for rectification.
Internal Control & Compliance, Chief Financial Officer and other h. Reviewed the Self-Assessment Reports of Anti-Fraud Internal
Bank Officials to discuss the Bank’s financial reporting. The Controls of the Bank.
Committee had reviewed the comprehensive inspection i. Reviewed the Annual Integrated Health Report of the Bank for
reports conducted by the Internal Auditors on Branches/ Sub- the year ended 2020.
Branches/ Divisions and the Annual Health Report of the Bank j. Reviewed the Summary of Audit Findings.
and other relevant matters. The Committee had revised the
NRBCB ICC Policy 2017, approved the standard Reporting 2.28 These Audited Fnancial Statements (AFS) were reviewed by the
Format for preparing Comprehensive & Distance Inspection Audit Committee of the Board of NRBC Bank Limited in its 42nd
Report and the Guidelines of Shari`ah Audit & Inspection. meeting held on April 13, 2022 and on the same date the AFS
Further the Committee had discussed about the audit findings approved by the Board in its 138th Board Meeting.
and remedial suggestions on various issues that need 2.29 General
improvement. The Audit Committee instructed Management to
i. Figures relating to the previous year included in this report have
follow those remedial suggestions and monitor accordingly.
been rearranged, wherever considered necessary, to make them
Meeting dates are as follows:
comparable with those of the current year without, however,

Sl. No. Audit Committee Meeting Date of Meeting

1 36th Meeting of the Audit Committee 31-Mar-21
2 37th Meeting of the Audit Committee 26-Apr-21
3 38th Meeting of the Audit Committee 19-May-21
4 39th Meeting of the Audit Committee 27-Jul-21
5 40th Meeting of the Audit Committee 24-Oct-21

During the year 2021, under review, the Committee, inter alia, had creating any impact, except mentioned above, on the operating
undertaken the following activities: result and value of assets and liabilities as reported in the financial
a. Reviewed the Risk Based Audit Plan 2021 and followed up on statements for the current year.
its implementation status. ii. Figures in these notes and in the annexed financial statements
b. Approved for conducting distance audit where physical audit have been rounded off to the nearest Taka.
is not possible/safe due to surge of COVID-19 infections and or iii. These notes form an integral part of the annexed financial
any other unforeseeable similar situation that may occur from statements and accordingly are to be read in conjunction
time to time in future and due to other official exigencies. therewith.

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 At Dec 31, 2021 At Dec 31, 2020
Taka Taka
3 Cash:
Conventional and Islamic banking
Cash In hand (including foreign currencies) (Note: 3.1) 2,615,157,693 1,689,246,856
Balance with Bangladesh Bank and its agent bank(s) (Note: 3.2) 5,530,170,193 4,402,662,974
8,145,327,886 6,091,909,830
3a Consolidated Cash:
NRBC Bank Limited 8,145,327,886 6,091,909,830
NRBC Bank Securities Limited 10,018,246 39,295
8,155,346,132 6,091,949,125

3.1 Cash In hand (including foreign currencies):

Conventional and Islamic banking
In local currency (Note: 3.1.1) 2,603,165,868 1,674,144,287
In foreign currency 11,991,826 15,102,569
2,615,157,693 1,689,246,856

3.1.1 Cash In Hand:

Conventional and Islamic banking
Cash in Hand 2,527,116,368 1,629,529,787
Cash at ATM and Branch Agent Point 76,049,500 44,614,500
2,603,165,868 1,674,144,287

3.1a Consolidated Cash In Hand (Including Foreign Currency)

NRBC Bank Limited 2,615,157,693 1,689,246,856
NRBC Bank Securities Limited 10,018,246 39,295
2,625,175,939 1,689,286,151

3.2 Balance with Bangladesh Bank and its agent bank(s)

Conventional and Islamic banking
In local currency (LCY) (Note: 3.2.1) 4,963,954,258 3,827,791,526
In foreign currency (FCY) (Note: 3.2.2) 455,700,395 380,652,919
5,419,654,653 4,208,444,445
Sonali Bank Ltd.
(as an agent bank of Bangladesh Bank) - local currency 110,515,540 194,218,529
5,530,170,193 4,402,662,974

3.2a Balance with Bangladesh Bank and its agent bank(s)

NRBC Bank Limited 5,530,170,193 4,402,662,974
NRBC Bank Securities Limited - -
5,530,170,193 4,402,662,974
3.2.1 Balance with Bangladesh Bank and its agent bank(s)-LCY
Conventional and Islamic banking
Bangladesh Bank, Motijheel Office 4,859,375,309 3,797,819,959
Bangladesh Bank, Motjheel Office, Islamic Banking Wings 91,108,131 23,963,000
Bangladesh Bank, Chittagong Office 3,114,487 1,568,986
Bangladesh Bank, Barisal Office 7,255,676 261,339
Bangladesh Bank, Sylhet Office 1,069,023 2,767,197
Bangladesh Bank, Rangpur Office 506,944 177,264
Bangladesh Bank, Khulna Office 1,027,685 306,187
Bangladesh Bank, Rajshahi Office 302,153 833,899
Bangladesh Bank, Bogra Office 194,849 93,695
4,963,954,258 3,827,791,526

Reconciliation between Bangladesh Bank statement and Bank’s book

As per Bangladesh As Per Bank's Reconciling

Particulars General ledger
Bank Statement Difference
Bangladesh Bank, Dhaka Office 4,766,301,996 4,859,375,309 (93,073,312)
Bangladesh Bank, Dhaka Office, Islamic Banking Wings 91,108,131 91,108,131 -
Bangladesh Bank, Chittagong Office 3,114,487 3,114,487 -
Bangladesh Bank, Barishal Office 7,255,676 7,255,676 -
Bangladesh Bank, Sylhet Office 1,069,023 1,069,023 -
Bangladesh Bank, Rangpur Office 506,840 506,944 (104)
Bangladesh Bank, Khulna Office 1,027,685 1,027,685 -
Bangladesh Bank, Rajshahi Office 302,153 302,153 -
Bangladesh Bank, Bogra Office 194,849 194,849 -
4,870,880,842 4,963,954,258 (93,073,416)

Bank credited but not debited by Bangladesh Bank 2,310,920,837

Bank debited but not credited by Bangladesh Bank (128,570,600)
Bangladesh Bank credited but not debited by Bank 420,839,822
Bangladesh Bank debited but not credited by Bank (2,696,263,475)

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Taka Taka
3.2.2 Balance with Bangladesh Bank -FCY
Conventional and Islamic banking
Bangladesh Bank, Motijheel Office - US Dollar 430,568,443 380,277,936
Bangladesh Bank, Motijheel Office - EURO 25,050,712 374,983
Bangladesh Bank, Motijheel Office - GBP 81,240 -
455,700,395 380,652,919

Details of Balance with BB (FCY Wise) Account and reconciliation between Bangladesh Bank statement and Bank’s book reconciliation are given in
Annexure-A

3.2.3 Maturity grouping of balance with other banks

Repayable – on demand 455,700,395 380,652,919
– up to 3 months - -
– over 3 months but below 1 year - -
– over 1 year but below 5 years - -
– over 5 years - -

3.3 Statutory deposits:

Cash Reserve Requirement (CRR) and Statutory Liquidity Ratio (SLR):
Cash reserve requirement and statutory liquidity ratio have been calculated and maintained in accordance with clause 1 of section 33 of Bank Company
Act -1991 (Amended upto 2020) along with and DOS circular no. 01 dated 19 January 2014.

The statutory Cash Reserve Requirement (CRR) is calculated on the Bank’s average total demand and time liabilities (ATDTL) and maintained accordingly
with Bangladesh Bank in current account while Statutory Liquidity Ratio (SLR) is in the form of treasury bills and bonds including foreign currency balance
with Bangladesh Bank. Both the reserves are maintained by the Bank in excess of the statutory requirements, as shown below:

A. Cash Reserve Requirement (CRR):

As per Bangladesh Bank MPD Circular No. 03 dated April 09, 2020, Bank maintained CRR of minimum 3.50% on daily basis and 4.00% on bi-weekly basis on
average total demand and time liabilities (ATDTL) of the base month which is two months back of reporting month (i.e. CRR of December 2021 is based on
weekly/Bi-weekly average balance of October 2021):

Conventional Banking
i. Daily Position as on the reporting date:
Average total demand and time liabilities (ATDTL) excluding inter-bank deposit for basis of determining daily Cash Reserve Requirement (Daily CRR is
basis of every two months back of average time and demand liabilities as mentioned previous para):

Average time and demand liabilities (excluding inter-bank deposit) 112,371,860,000 86,549,165,000

Required Reserve (3.5% on daily basis of Average Time and Demand Liabilities) 3,933,015,100 3,029,220,775

Actual reserve maintained with Bangladesh Bank 4,570,060,042 3,587,620,971

Surplus (Maintained over requirement) 637,044,942 558,400,196

ii. Bi-weekly cumulative Position

Average total demand and time liabilities (ATDTL) excluding inter-bank deposit for basis of determining Bi-weekly Cash Reserve Requirement (Bi-
weekly CRR is basis of every two months back of average time and demand liabilities):

Average time and demand liabilities (excluding inter-bank deposit) 112,371,860,000 86,549,165,000

Required Reserve (4% on bi-weekly basis of Average Time and Demand Liabilities) 4,494,874,400 3,461,966,600

Average actual reserve maintained 4,570,060,042 3,587,620,971

Surplus (Maintained over requirement) 75,185,642 125,654,371

Islamic Banking

i. Daily Position as on the reporting date:

Average time and demand liabilities (excluding inter-bank deposit) 1,584,076,000.00 240,163,000
Required Reserve (3.5% on daily basis of Average Time and Demand Liabilities) 55,442,660.00 8,405,705
Actual reserve maintained with Bangladesh Bank 85,481,660.28 60,872,670
Surplus (Maintained over requirement) 30,039,000.28 52,466,965

ii. Bi-weekly cumulative Position

Average time and demand liabilities (excluding inter-bank deposit) 1,584,076,000.00 240,163,000
Required Reserve (4.00% on bi-weekly basis of Average Time and Demand Liabilities) 63,363,040.00 9,606,520
Average actual reserve maintained 85,481,660.28 60,872,670
Surplus (Maintained over requirement) 22,118,620.28 51,266,150

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Taka Taka
B. Statutory Liquidity Ratio (SLR) of 13 % Average Demand and Time Liabilities
Conventional Banking
As per clause 1 of section 33 of Bank Company Act -1991 (Amended upto 2018) & DOS circular No - 01 dated 19 January 2014 of Bangladesh bank
(effective from 01 February 2014) all scheduled banks have to maintain SLR of minimum 13% based on average total demand and time liabilities (ATDTL)
of the base month which is two months back of the reporting month:

Average time and demand liabilities (excluding inter-bank deposit) 112,371,860,000 86,549,165,000

Required reserve of SLR(13% on basis of Average Time & Demand Liabilities 14,608,341,800 11,251,391,450

Average Actual SLR maintained (details in the note C) 23,394,552,257 26,160,167,310

Surplus/(deficit) 8,786,210,457 14,908,775,860

Islamic Banking

Average time and demand liabilities(excluding inter-bank deposit) 1,584,076,000 240,163,000

Required reserve of SLR(5.5% on basis of Average Time & Demand Liabilities) 87,124,180 13,208,965
Average Actual SLR maintained (details in the note C) 433,580,431 81,334,183
Surplus/(deficit) 346,456,251 68,125,218

C. Components of Statutory Liquidity Ratio (SLR)

Conventional Banking
Ave. Cash in hand including Foreign Currency 2,327,043,815 1,429,921,566
Ave. Excess Reserve of Bi-weekly @4% under CRR Bal with Bangladesh Bank 127,383,695 226,382,540
Ave. Unencumbered approved securities (HTM) 16,776,388,164 12,900,132,809
Ave. Unencumbered approved securities (HFT) 3,850,666,606 11,601,617,305
Ave. Other Eligible Security i.e. Prize Bond 313,069,977 2,113,090
23,394,552,257 26,160,167,310
Islamic Banking
Cash in hand 12,916,932 6,410,440
Excess of CRR - Balance with Bangladesh Bank 22,118,660 51,266
Government securities 20,000,000 61,663,513
Other Eligible Security 378,544,839 -
433,580,431 68,125,218

BRPD Circular No.-02 dated 25/02/2019 and BRPD Circular Letter No.-09 dated 27/05/2019 on Policy for Offshore Banking Operation of the Banks in
Bangladesh is not applicable for Bank. Hence refer to DOS Circular Letter No.26 dated 19/08/2019 has no obligation to maintain CRR and SLR

4 Balance with other banks and financial institutions

In Bangladesh:
Conventional and Islamic banking (Note: 4.1) 3,008,815,802 2,591,103,606

Outside Bangladesh:
Conventional and Islamic banking (Note: 4.2 & 4.3) 74,680,916 909,933,455
3,083,496,718 3,501,037,060

3,083,496,718 3,501,037,060
Offshore Banking Unit (OBU) (Note: 4.2) 1,464,354,637 -
4,547,851,355 3,501,037,060

4a Consolidated Balance with other banks and financial institutions

In Bangladesh (Note: 4.1a) 3,050,655,473 2,471,588,502
Outside Bangladesh (Note: 4.2a) 1,539,035,553 909,933,455
4,589,691,026 3,381,521,957

4.1 Balance with other banks and financial institutions: In Bangladesh

Conventional and Islamic banking In Bangladesh

i. Current Deposits:
Krishi Bank Ltd, Principal Office Br 5,710,072 -
Bank Asia Ltd, Ruhitpur Br. 500 641
NCC Bank Ltd, Bhaban Br. 7,097,178 1,273,383
Sonali Bank Ltd, Rangpur Corporate Br. 26,568 26,029,127
Sonali Bank Ltd, Feni Br. 10,087,868 36,063,661
Sonali Bank Ltd, Gopalgonj Br. 1,032,207 33,893,008
Jamuna Bank Limited by Branches/Sub-Branches 1,733,860 2,520,479
Agrani Bank Limited by Branches/Sub-Branches 2,891,115 1,455,199
Rupali Bank Limited by Branches 1,738,569 -
30,317,936 101,235,498

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 At Dec 31, 2021 At Dec 31, 2020
Taka Taka
ii. Special Notice Deposits
Mercantile Bank Ltd, Main Br. 42,179,536 33,236,296
Mercantile Bank Ltd., Sylhet Br. 1,163 2,770
Janata Bank Ltd, Local Office 12,527,211 38,637,811
Mercantile Bank Ltd., Rajshahi Br. - -
Southeast Bank Ltd., Principal Br. 15,925,732 30,975,002
NCC Bank Ltd., Motihjeel Br. 25,295,577 23,595,570
Eastern Bank Ltd., Principal Br. 11,474,404 3,130,633
Jamuna Bank Ltd., FEX Br. 15,544,351 44,117,488
Agrani Bank Ltd., Principal Br. 204,317,803 286,011,528
Agrani Bank Ltd., Sonargaon Br. 84,704,611 80,639
Sonali Bank Ltd, Khulna Corp. Branch 3,270 4,389
Sonali bank Ltd., Tangail Br. 6,047 3,657
Sonali bank Ltd. Narsingdi Br. - 5,469,304
Sonali Bank Ltd., Baitul Mokarram Branch 2,627,121 633,223
Sonali Bank Ltd, Dilkusha Corporate Branch 88,356,453 62,398,911
Sonali Bank Ltd., B.I.S.E Dhaka Branch 136,351,088 153,501,391
Agrani Bank Limited, Dhaka University Branch 246,191,656 -
Janata Bank Limited, Bonshal Road Branch 296,296,124 -
Agrani Bank Ltd Maintained by Sub-Branch 14,510,000 39,290
Janata Bank Ltd Maintained by Branch - 280
Rupali Bank Limited Maintained by Branch 24,638 -
Trust Bank Ltd, Dilkhusha Corp Br (Q-cash Settlement A/c) 3,596,651 17,253,338
Southeast Bank Limited, Motijheel Islamic Banking Branch (Islamic) 668,749 644,709
First Security Islami Bank, Dilkusha Branch (Islamic) 5,167,858 5,054,114
Social Islami Bank Limited, Principal Branch (Islamic) 369,100 4,999,975
Union Bank Limited, Elephant Road Branch (Islamic) 43,451,106 10,000,000
Agrani Bank Ltd., Amin Court Branch (Islamic) 10,000,000 -
1,259,590,250 719,790,319

iii. Fixed Deposits Receipt (FDRs)/Mudaraba Term Deposit Receipts (MTDR)

FDR placement to NBFIs** 1,537,475,523 1,562,425,523
FDR /Mudaraba Term Deposit Receipt (MRDR) placement to Banks** 172,047,500 60,000,000
1,709,523,023 1,622,425,523

**Details of Placement with Bank & NFBI in Annexure-B

iv. Balance with Marchant Bank, MFS and Brokerage Houses

MBL Securities Ltd [Under own Discretionary BO Account] 32,958 33,458
IIDFC Securities Ltd [Under own Discretionary BO Account] 8,988 9,438
NRBC Bank Securities Ltd(Code-100) [Under own Discretionary BO Account] 1,369,911 142,773,541
NRBC Bank Securities Ltd [Code: 1234] [ Special BO Account by Special Fund] 5,360,602 314,767
Asian Tiger Capital Partners Investments Ltd. [Marchant Banking] 178,024 -
bKash Limited (Money Transfer A/c)-Mobile Banking Services 2,434,111 4,521,062
9,384,593 147,652,266

4.1a Consolidated In Bangladesh

NRBC Bank Limited 3,008,815,802 2,591,103,606
NRBC Bank Securities Limited 76,313,611 196,436,623
3,085,129,413 2,787,540,229
Less: Inter company transaction 34,473,941 315,951,727
3,050,655,473 2,471,588,502

4.2 Balance with other banks and financial institutions : Outside Bangladesh
Nastro Account Deposits:
Habib American Bank NY, USD 11,050,572 494,522,879
Mashreq Bank PSC NY, USD 16,048,887 377,338,903
AB Bank Ltd Mumbai, Acu Dollar 16,434,980 12,538,569
United Bank of India, Kolkata, Acu Dollar 1,327,807 281,849
United Bank of India, Kolkata, Acu Euro 2,031,847 1,101,507
Mashreq Bank Mumbai Acu Dollar 6,340,483 1,096,755
National Bank Of Pakistan, Tokyo, Jpy 1,628,577 3,644,681
Kookmin Bank, Seoul, Korea 5,837,621 7,358,231
Habib Metro Bank Limited, Karachi Acu Dollar 1,114,494 267,581
Axis Bank Limited, India 1,743,074 2,136,687
Banca UBAE S.P.A., Italy 567,936 3,657,790
Kookmin Bank, Korea Republic 2,758,437 5,542,006
Bank of Huzhou,China 497,667 446,017

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Taka Taka
Sonali Bank Ltd. Kolkata Branch, ACU Dollar 1,578,053 -
Sonali Bank Ltd-USD, UK Branch 13,918,310 -
Sonali Bank Ltd-GBP, UK Branch 612,787 -
Sonali Bank Ltd-Euro, UK Branch 202,116 -
Zhejiang Chouzhou Commercial Bank Co. Ltd. China-USD 307,371 -
Mizuho Bank Ltd., Tokyo 890,269 -
84,891,288 909,933,455
Mashreq Bank, NY USA-USD (OBU) 1,464,354,637 -
1,549,245,925 909,933,455

Details of Nostro Account along with conversion and unreconcile position in the Annxure-C

4.2.1 Maturity grouping of balance with other banks

Repayable – on demand 1,464,354,637 909,933,455
– up to 3 months - -
– over 3 months but below 1 year - -
– over 1 year but below 5 years - -
– over 5 years - -
1,464,354,637 909,933,455

4.2a Consolidated Outside Bangladesh (Nostro Accounts)

NRBC Bank Limited 1,549,245,925 909,933,455
NRBC Bank Securities Limited - -
1,549,245,925 909,933,455
Less: Inter company transaction - -
1,549,245,925 909,933,455

4.3 NRBC Fund Placement to Offshore Banking Unit (OBU)

NRBC Bank Fund Placement to Offshore Banking Unit (OBU) 1,879,919,657 -
OBU Account with international Division-HO (OBU) 2,052,236 -
1,881,971,893 -
Less: Inter Branch Transaction with OBU 1,892,182,265 -
(10,210,371) -
4.4 Account-wise/grouping of balance with other banks and financial institutions:
Current Deposits 1,588,948,454 1,158,821,219
Saving Deposit - -
Special Notice Deposits 1,259,590,250 719,790,319
Fixed Deposits 1,709,523,023 1,622,425,523
4,558,061,727 3,501,037,060

5 Money at call and short notice: In Bangladesh

Money at call and short notice to Banks (Note: 5.1) - -
Money at call and short notice to NBFIs (Note: 5.2) 147,450,000 134,800,000
147,450,000 134,800,000

5.1 Money at call and short notice to Banks

- -
- -
- -

5.2 Money at call and short notice to NBFIs

GSP Finance Company (Bangladesh) Limited 24,500,000 44,500,000
Union Capital Ltd. 5,150,000 -
Fareast Finance and Investment Ltd. 45,900,000 45,900,000
FAS Finance and Investment Limited 5,000,000 4,000,000
International Leasing & Financial Services Ltd 66,900,000 40,400,000
147,450,000 134,800,000

5.3 Maturity grouping of Money at call and short notice

Repayable – on demand 147,450,000 134,800,000
– up to 3 months - -
– over 3 months but below 1 year - -
– over 1 year but below 5 years - -
– over 5 years - -
147,450,000 134,800,000
5a Consolidated money at call and on short notice
NRBC Bank Limited 147,450,000 134,800,000
NRBC Bank Securities Limited - -
147,450,000 134,800,000

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Taka Taka
6 Investments
Type of Investment
Treasury Bill - -
Treasury Bond 21,762,882,349 24,093,384,436
Islamic Bond 20,000,000 20,000,000
Sukuk Bond 1,278,070,000 26,400,000
Prize Bond 2,406,400 1,954,500
Other Investment 5,477,721,165 2,226,097,944
28,541,079,915 26,367,836,880
Nature wise:
Held for Trading 3,758,951,726 10,873,530,595
Held to Maturity 19,302,000,623 13,266,253,841
Others 5,480,127,565 2,228,052,444
28,541,079,915 26,367,836,880
Claim wise:
Government securities (Note: 6.1) 23,063,358,749 24,141,738,936
Other investments (Note: 6.2) 5,477,721,165 2,226,097,944
28,541,079,915 26,367,836,880
6a Consolidated investments
NRBC Bank Limited 28,541,079,915 26,367,836,880
NRBC Bank Securities Limited 340,429,691 359,359,305
28,881,509,606 26,727,196,185
Less: Inter company transaction - -
28,881,509,606 26,727,196,185

6.1 Government securities - Conventional and Islamic banking

Treasury bills and Bonds (Govt. Securities) (Note: 6.1.1) 23,060,952,349 24,139,784,436
Prize Bond 2,406,400 1,954,500
23,063,358,749 24,141,738,936

6.1.1 Treasury bills and Bonds (Govt. Securities): Conventional and Islamic Banking including Sukuk Bonds:
a. Unencumbered
I. Held for Trading(HFT)
2 Year Treasury Bonds 10,112,730 530,367,420
5 Year Treasury Bonds 2,514,466,995 2,519,198,565
10 Year Treasury Bonds 601,654,358 5,488,037,569
15 Year Treasury Bonds 580,372,564 1,626,507,563
20 Year Treasury Bonds 52,345,080 709,419,479
3,758,951,726 10,873,530,595

ii. Held to Maturity(HTM)

182 Days Bangladesh Government Islamic Investment Bond(Islamic Banking) 20,000,000 20,000,000
Investment In Government Sukuk (Ijarah Sukuk) Bond (Islamic Banking) 967,460,000 26,400,000
5 Year Sukuk Bond 310,610,000 -
5 Year T-Bonds 1,204,170,158 3,672,035,394
10 Year T-Bonds 8,138,256,829 4,680,357,223
15 Year T-Bonds 3,105,709,565 2,704,013,214
20 Year T-Bonds 5,555,794,071 2,163,448,011
19,302,000,623 13,266,253,841

b. Encumbered: Disclosure regarding of the securities were being lien under re-purchased agreement in the Annexure- D as per DOS Circular No.- 06
dated 15 July 2010.

6.1a Consolidated Government securities

NRBC Bank Limited 23,063,358,749 24,141,738,936
NRBC Bank Securities Limited - -
23,063,358,749 24,141,738,936
Less: Inter company transaction - -
23,063,358,749 24,141,738,936
6.2 Other investments
A. Quoted shares & Mutual Funds
Investment in Listed Co. Share under Bank Own Discretionary Fund 897,395,584 282,233,238
Investment in Listed Co. Share under Special Scheme Fund * 793,357,401 366,348,215
Portfolio Inv. Thr Asian Tiger Capital Partners Investments Ltd 84,490,634 -
Investment in Listed SUKUK Bond (Other than Govt.) 500,000,000 -
2,275,243,618 648,581,453

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Taka Taka
* NRB Commercial Bank Limited maintained another BO # 1205950072055133 at NRBC Bank Securities Limited under scheme of special Fund as per
DOS Circular 01, Dated February 10, 2020.

B. Unquoted shares
Investment in IPO Subscription 22,222,000 14,994,000
Investment in SWIFT Share (6 no. of Share) of SWIFT SCRL, Belgium 2,779,967 2,779,967
25,001,967 17,773,967
C. Investment in Preference Share:
Regent Energy and Power Ltd. 37,475,580 29,742,524
Impress-Newtex Composite Textiles Limited 350,000,000 -
Jinnat Knitwears Limited 400,000,000 -
787,475,580 29,742,524
D. Investment in Subordinated Bond:
Mercantile Bank Subordinated Bond - 90,000,000
Trust Bank Subordinated Bond - 30,000,000
UCBL Subordinated Bond I 20,000,000 40,000,000
IPDC Finance Subordinate bond 120,000,000 150,000,000
AB Bank Subordinated Bond - 20,000,000
UCBL Subordinated Bond-iv 500,000,000 500,000,000
One Bank Subordinated Bond III 500,000,000 500,000,000
MTB Subordinated Bond 40,000,000 80,000,000
AB Bank Ltd. Subordinated Bond 2 60,000,000 120,000,000
1,240,000,000 1,530,000,000

E. Investment in Perpetual Bond:

The City Bank Ltd Perpetual Bond 300,000,000 -
Jamuna Bank Ltd Perpetual Bond 400,000,000 -
UCBL Perpetual Bond 450,000,000 -
1,150,000,000 -

Total (A+B+C+D+E) 5,477,721,165 2,226,097,944

Details in the Annexure-E

6.2a Consolidated other investments

NRBC Bank Limited 5,477,721,165 2,226,097,944
NRBC Bank Securities Limited 340,429,691 359,359,305
5,818,150,856 2,585,457,249
Less: Inter company transaction - -
5,818,150,856 2,585,457,249

6.3 Maturity grouping of Investment

Redeemable-on demand - -
– up to 3 months - -
– over 3 months but below 1 year 1,342,435,915 1,342,435,915
– over 1 year but below 5 years 9,149,594,136 9,149,594,136
– over 5 years 15,875,806,830 15,875,806,830
26,367,836,880 26,367,836,880

7. Loans and Advances/Investments 104,898,313,929 74,835,733,314

Loans, cash credits, overdrafts, etc/Investments 103,313,244,407 73,041,653,582

Bills purchased and discounted 1,528,677,738 1,794,079,732
104,841,922,144 74,835,733,314
Bills purchased and discounted : Offshore Banking Unit(OBU) 56,391,785 -
104,898,313,929 74,835,733,314

7.a Consolidated Loans and advances/Investments

NRBC Bank Limited 104,898,313,929 74,835,733,314
NRBC Bank Securities Limited 2,000,291,811 848,297,183
106,898,605,740 75,684,030,497
Less: Inter company transaction 1,408,020,848 796,605,315
105,490,584,892 74,887,425,182
7.1 Product wise Loans and Advances/Investments:
I) Loans, cash credits, overdrafts, etc./Investments
Conventional and Islamic banking
Inside Bangladesh
Overdraft 19,051,046,620 7,813,110,765
Cash Credit 8,919,532,064 2,252,301,848
Term loan 27,901,615,133 10,607,039,371

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Taka Taka
Lease Finance 919,881,883 776,984,913
Hire Purchase/HPSM (Transport) 2,861,618,324 2,327,324,979
Time loan 7,512,732,155 9,351,017,658
Loans against Trust Receipt 2,450,385,207 1,683,924,056
Packing Credit 442,433,457 818,166,862
Payment Against Document 86,827,516 75,628,734
EDF Loan 341,770,395 -
SME Credit 13,014,574,030 28,632,356,487
House Building Loan-Residential 3,291,896,406 -
Retails Credit 6,637,413,434 946,667,274
Staff Loan 947,711,913 639,653,485
Advance Against Credit Card 698,807,501 713,668,671
Agricalture and Rural Credit 2,036,139,455 -
Micro Credit 3,185,953,644 -
Other Loans and Advances 737,570,248 6,403,808,478
Bai-Murabaha (Trading) 35,274,730 -
Bai-Murabaha (Working Capital) 60,684,963 -
Single Bi-Salam 2,827,565 -
101,136,696,641 73,041,653,582
Offshore Banking Unit(OBU): General Loan & Advance (U-pass) 2,176,547,766 -
103,313,244,407 73,041,653,582
Outside Bangladesh

ii) Bills purchased and discounted

Conventional and Islamic banking

Payable Inside Bangladesh

Inland bills purchased 1,286,511,250 1,358,399,601
1,286,511,250 1,358,399,601
Payable Outside Bangladesh
Foreign bills purchased and discounted 242,166,488 435,680,132
242,166,488 435,680,132
Offshore Banking Unit (OBU) 56,391,785 -
298,558,273 435,680,132
1,585,069,522 1,794,079,732
Total (i+II) 104,898,313,929 74,835,733,314

7.2 Loans, cash credits, overdrafts, etc./Investment (Inside Bangladesh)

In Bangladesh
Loans 73,166,117,958 65,470,735,992
Overdrafts 19,051,046,620 5,318,615,741
Cash Credit 8,919,532,064 2,252,301,848
101,136,696,641 73,041,653,582
Offshore Banking Unit(OBU) 2,176,547,766 -
103,313,244,407 73,041,653,582

Outside Bangladesh
Loans - -
Overdrafts - -
Cash Credit - -
103,313,244,407 73,041,653,582

7.2a Consolidated Loans, cash credits, overdrafts, etc./Investment (Inside Bangladesh)

NRBC Bank Limited 103,313,244,407 73,041,653,582
NRBC Bank Securities Limited 2,000,291,811 848,297,183
105,313,536,218 73,889,950,765
Less: Inter company transaction 1,408,020,848 796,605,315
103,905,515,369 73,093,345,450

7.3 Loans and Advances/Investments under following Broad categories:

In Bangladesh
Loans 73,166,117,958 65,470,735,992
Overdrafts 19,051,046,620 5,318,615,741
Cash Credit 8,919,532,064 2,252,301,848
Bills purchased and discounted 1,286,511,250 1,358,399,601
102,423,207,891 74,400,053,182

Offshore Banking Unit(OBU) 2,176,547,766 -

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Taka Taka
Outside Bangladesh
Bills purchased and discounted (Conventional & Islamic) 242,166,488 435,680,132
Foreign bills purchased and discounted (OBU) 56,391,785 -
104,898,313,929 74,835,733,314

7.4 Residual maturity grouping of loans and advances including bills purchased and discounted
Payable on demand 9,458,212,343 1,025,771,086
Not more than 3 months 21,422,610,368 5,000,971,912
More than 3 months but not more than 1 year 27,728,720,829 31,313,583,146
More than 1 year but not more than 5 years 21,396,130,342 22,275,016,616
More than 5 years 24,892,640,047 13,426,310,822
104,898,313,929 73,041,653,582

7.5 Net loans and advances/investments

Gross loans and advances/investments 104,898,313,929 74,835,733,314
Less: Interest suspense (Note 13.9) 1,360,222,532 741,656,357
Provision for Classified loans and advances/investments (Note 13.2) 1,803,943,529 1,102,231,770
3,164,166,061 1,843,888,127
101,734,147,868 72,991,845,187

7.6 Sector wise Loans and Advances excluding bill purchased and discounted:
Govt. Sector - -
Public Sector - -
Co-operative sector - -
Private Sector 104,898,313,929 74,835,733,314
104,898,313,929 74,835,733,314

7.7 Loans and Advances on the basis of significant concentration including Bills Purchased and Discounted.
a) Loans and advances given in favor of sister concern of the Directors; 281,492,659 52,450,000

b) Loans and advances given to Chief Executive and other senior executives & staff of the Banks:
Managing Director & CEO - 6,067,946
other executives and staffs 761,826,725 633,585,539
761,826,725 639,653,485

c) Loans and advances allowed to customer exceeding 10% of Bank's Total Equity for the period ended December 31, 2021:
Total capital of the Bank (Figure in lac Taka) 16,069 103,912
No. of Customer 52 52

Amount of Outstanding Facilities: Amount in lac taka

Funded Facilities 322,453 264,848
Non-Funded Facilities 153,534 130,416
Classified loan thereon Nil Nil
Measures taken for recovery Nil Nil

Figure in Lac
SL Name of Client Facilities approved by Bank Balance/Business as on 31.12.2021
Funded Non-Funded Funded Non-Funded
1 Nassa Taipei Textile Mills Ltd* 9323+((4000)) 4,004.00 6,454.51 2,561.00
2 Goldstar Group* 2482+((4000)) 10,150.00 132.75 1,980.00
3 labib group* 8590+((6000)) 9,888.00 5,708.00 481.00
4 Ifad Autos Limited 7,450.00 1,300.00 5,464.51 -
5 AG Group* 17970+((1000)) 10,000.00 17,979.00 41.00
6 Mir Akhter Hossain Ltd. 11,150.00 17,000.00 8,622.85 5,994.00
7 Anwar Group 6,505.00 - 7,851.33 -
8 Navana Group 10,447.00 7,500.00 10,695.25 316.00
9 Abul Khair Group* ((7000)) 16,500.00 - 1,049.50
10 Jamuna Edible Oil Industries Ltd Unit-2 10,727.00 15,000.00 9,982.40 11,454.00
11 SB Group 14,950.00 8,120.00 4,530.40 4,127.00
12 Chowdhury Group* 12978+((500)) 5,000.00 13,064.67 1,558.00
13 Computer Network System 5,000.00 11,000.00 - 5,806.00
14 AA Synthetic Filtd. 13,678.00 9,152.00 13,739.85 9,362.00
15 Silver Apperals Ltd. 12,631.00 12,300.00 8,892.12 8,813.00
16 Northern Hatcheries 8,989.00 500.00 10,773.53 -

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 At Dec 31, 2021 At Dec 31, 2020
Taka Taka

SL Name of Client Facilities approved by Bank Balance/Business as on 31.12.2021

Funded Non-Funded Funded Non-Funded
17 Samira Saima Textile Mills 7,784.00 0.00 8,459.86 -
18 La-muni Apparels Ltd 5,000.00 0.00 2,693.09 -
19 Lushaka Group* 5015+((3500)) 10,949.00 2,433.20 10,445.00
20 Gram Unnayan Karma (GUK) 2,000.00 10,500.00 2,038.11 4,379.00
21 Aristocrats Properties Ltd. and Associates 3,800.00 13,000.00 1,004.87 4,545.00
22 Aleya Feeds Ltd. & its Associates* 6626+((3250)) 5,000.00 9,740.52 9.00
23 Taratex Fashion Limited 5,403.00 10,120.00 3,460.00 10,923.00
24 Bangladesh Steel Re-rolling Mills Ltd 16,500.00 0.00 - -
25 Nitol Motors Ltd. 13,000.00 5,000.00 6,078.89 -
26 Manobik Shajya Sangstha 0.00 11,865.00 - 3,360.00
27 Md. Rasheduzzaman 7,063.00 11,500.00 4,259.67 6,660.00
28 Western Engineering (Pvt.) Limited & its Associates 14,298.00 14,500.00 14,928.00 10,411.00
29 Star Particle Board Mills Limited 10,914.00 4,000.00 10,816.60 365.00
30 Popular Diagnostic Centre Ltd. 5,900.00 2,000.00 4,046.56 -
31 Max-HCC JV 14,050.00 4,000.00 8,175.03 1,103.00
32 Max Infrastructure Ltd. 0.00 0.00 - -
33 Three Angle Marine Ltd.* 8043+((1430)) 23,489.00 8,139.39 9,797.00
34 Jahangir and Others Limited* 13643+((7000)) 8,000.00 13,483.78 -
35 S K S Foundation 9,096.00 5,000.00 7,709.44 1,575.00
36 Energypac Power Generation Ltd* 2000+((4500)) 4,500.00 5,209.57 615.00
37 Pragoti Industries Ltd* 23000+((10000)) 0.00 - 107.00
38 Center for Development Innovation and Practiced (CDIP) 0.00 8,579.00 - 2,593.50
39 Chisty Group 9,457.00 1,650.00 9,399.50 717.00
40 Sheltech (Pvt.) Ltd. 13,580.00 15,805.00 9,699.00 5,806.00
41 NRBC Bank Securities Limited 14,500.00 0.00 14,087.46 -
42 Bangla Trac Power Unit-1 Limited 2,500.00 0.00 910.21 -
43 BSMRAU Gazipur (Wholesale Loan Fund) 20,000.00 0.00 2,505.51 -
44 Shah Group 10,170.00 10,160.00 1,256.53 319.00
45 Reliable Builders Limited 10,680.00 6,500.00 1,685.12 2,017.00
46 Fair Electronics 5,106.00 11,406.00 778.33 1,719.00
47 Mosharaf Group* 4223+((10000)) 28,639.00 10,547.20 16,020.00
48 International Distribution Company 9,188.00 3,450.00 9,010.99 2,510.00
49 S S Rahman International 18,659.00 1,950.00 3,778.10 384.00
50 Bhaiya Group 10,430.00 1,327.00 9,198.86 648.00
51 Ixora Group* 7608+((1165)) 4,230.00 7,027.43 2.00
52 Bangladesh Building Systems Ltd. 7,272.00 3,000.00 6,001.45 2,962.00
Total 322,453.46 153,534.00

**NOTE: Inner limit exist in (*) mark customer's.

d) Industry wise loans including Bills purchased & discounted:

SL Industries Taka Taka
1 Agricultural Industry 1,615,822,255 503,581,272
2 Textile 3,299,369,350 2,396,789,367
3 RMG 10,899,651,473 9,256,041,639
4 NBFI 872,820,085 859,414,990
5 Food 557,685,762 -
6 Beverage 584,169,968 288,804,997
7 Pharmaceutical 105,082,149 10,274,632
8 Chemical - -
9 Electrical 1,499,363,152 929,214,673
10 Construction 5,450,186,089 3,316,220,851
11 House Building Residential 4,965,867,486 2,060,309,605
12 Leather 666,645,399 48,316,812
13 Service Industry 6,525,090,059 4,910,801,927
14 Transport 280,437,270 -
15 Basic Metal - -

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Taka Taka
16 Capital Market 1,408,746,093 800,835,592
17 Car loan 47,591 2,735,143
18 Insurance 148,232,789 120,077,637
19 Consumer Finance 6,613,843,714 3,441,133,156
20 Printing 1,388,817,627 238,864,683
21 Ship Breaking 1,670,139,363 1,011,351,463
22 SME 33,784,973,152 28,632,356,487
23 Staff Loan 761,826,725 639,653,485
24 Steel 2,638,701,805 1,497,128,544
25 Trade Industry 9,337,287,397 6,024,909,338
26 Card 698,807,501 713,668,671
27 Other Manufacturing Industry 7,330,936,473 6,335,890,277
28 Others 699,110,984 43,469,315
104,898,313,929 74,835,733,314

7.8 Geographical location-wise Loans and Advances

Urban Branch
Dhaka 68,207,102,486 49,948,434,196
Chittagong 8,192,929,631 7,780,222,129
Rajshahi 3,969,135,261 2,944,038,884
Sylhet 1,641,291,103 1,267,368,859
Barisal 1,791,798,517 1,167,814,721
Rangpur 910,872,149 223,084,421
Khulna 1,011,906,001 625,006,658
Mymensingh 318,954,579 468,968,681
Sub-total 86,043,989,728 64,424,938,548

Rural Branch
Dhaka 8,677,514,220 6,195,417,772
Chittagong 2,969,949,892 1,910,388,282
Rajshahi 1,014,509,968.69 335,666,305.88
Sylhet 469,541,219 213,644,894
Barisal 1,327,092,593 872,125,653
Rangpur 3,278,127,784 260,760,325
Khulna 544,891,034 319,745,802
Mymensingh 572,697,491.94 303,045,730.66
Sub-total 18,854,324,202 10,410,794,765
Total 104,898,313,929 74,835,733,314

7.9 Classification of loans, advances and lease/investments

Conventional & Islamic
Standard including Staff Loan 96,421,157,655 70,732,254,540
Special Mention Account (SMA) 3,421,402,161 1,912,399,398
99,842,559,816 72,644,653,938

Classified
Substandard 1,844,660,012 181,295,833
Doubtful 93,771,242 202,068,674
Bad/Loss 2,828,902,546 1,807,714,869
4,767,333,799 2,191,079,376

104,609,893,615 74,835,733,314

7.10 Particulars of required provision for loans and advances (for Funded facility):
For Unclassified Loans Base for Provision Rate (%)
Standard Including Staff Loan 95,657,695,996 Various (*) 880,360,287 828,602,502
Special General Provision-COVID-19 for 2020 [BRPD Cir 56 of 2020] 1% 284,637,268 284,637,268
Special General Provision-COVID-19 for 2021 [BRPD Cir 50 & 52 of 2021] 2% & 1.5% (for UC) 131,938,933 -
Special Mention account 3,062,148,799 Various (*) 211,127,260 391,177,052
Sub-Total (a) 1,508,063,748 1,504,416,822

(*) General Provision is Kept @ 2% on Credit Card Loan, 2% Loan for Professional, 1% on housing loan, 5% on Consumer Financing and 0.25% on small and
medium enterprise Financing and 1% on rest unclassified Loans and advances.

However, as per BRPD Circular No. 04, dated 19th March 2020 the classification status of loan, lease or advance on January 01, 2020 will remain
unchanged until Dec 31, 2021. Furthermore, BRPD Circular Letter No-50 and 52 dated December 14 and 29, 2021 respectively would not be classifed
if loanee repaid 25% of their loan Installments due for the Year 2021 except CMSME whose have to repay only 15% of total due installments for the
year 2021.

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Taka Taka
For Classified Loans Base for Provision Rate (%)
Substandard Loan (SS) (**) 1,324,413,511 20% 252,344,096 8,646,796
Doubtful (DF) (**) 23,190,290 50% 6,306,677 28,979,451
Bad/loss (BL) 1,544,333,666 100% 1,545,292,756 1,064,605,522
Sub-Total (b) 1,803,943,529 1,102,231,770
Required Provision for Loan and advance (c=a+b) 3,312,007,277 2,606,648,591.53
Total Provision maintained (Note:13.1 & 13.2) 3,312,007,277 2,606,648,592
Excess/(Shortfall) of provision as of 31 December 2021 - -

(**) Except Short-term agri-credit and micro credit where 5% provision has to be kept on base for provision under SS & DF stage

*** Loan under exit plan of the BRPD Circular # 05/2019, Installment due for payment in 2020 would enjoy deferral maximum 180 days that must be
paid within December 31, 2021 by BRPD Circular Letter no. 45 Dated 04 October 2021 did not consider as classified loan.

7.11 Particulars of Loans and Advances:

(i) Loans and advances considered good in respect of which the Bank is fully secured 21,558,524,358 9,936,872,801

(ii) Loans and advances considered good against which, the Bank holds no security 698,807,501 713,668,671
other than, the debtors' personal guarantee
(iii) Loans and advances considered as good which is secured owing to personal 36,391,004,073 28,863,898,143
liability of one or more parties in addition to debtors' personal guarantee
(iv) Loans and advances adversely classified; Such a classified loan for which no provision has been left - -
58,648,335,932 39,514,439,616

(v) Loans and advances due by directors or officers of the banking company or 14,220,817,600 11,841,570,109
any of them either separately or jointly with any other persons
(vi) Loans and advances due from companies or firms in which the directors of the Bank have 281,492,659 11,201,916,624
interest as directors, partners or managing agents or in case of private companies, as members
(vii) Maximum total amount of loans and advances, including temporary advances 160,000,000 160,000,000
made at any time during the year to directors or managers or officers of the banking
company or any of them either separately or jointly with any other person.
(viii) Maximum total amount of loans and advance, including temporary Loans and 1,750,000,000 1,650,000,000
advances granted during the year to the companies or firms in which the directors of
the banking company have interest as directors, partners or managing agents or
in the case of private companies, as members
(ix) Money Receivable/Due from different banking companies - -
(x) The amount of classified loan on which interest has not been charged:
a. (Decrease)/increase of provision (Specific) 701,711,760 255,316,640
b. Amount of loan write off - -
c. Amount realized against loan previously written off - -

d. Provision kept against classified loan as bad/loss account on the date of 1,803,943,529 1,102,231,770
preparation of balance sheet;
e. Interest imposed in suspense account 1,360,222,532 741,656,357

(xi) Movement of write off loan:

Opening balance - -
Add: During the period/year - -
Less: Amount realised against loans & advances previously written off - -
Closing Balance - -
7.12 Direction of Court Order regarding Classified Loan (Details Description)
The amount reported under Standard/SMA category includes certain loan accounts with an aggregate outstanding of Tk. 174.62 million as at 31-12-
2021 which has not been reported as classified at year-end due to stay order from the Honorable High Court Division of the Supreme Court of
Bangladesh. out of which, as at December 2021, an aggregate amount of Tk.174.62 million has been kept as specific provision treating the customer
accounts as bad/loss.

7.13 Suits filed by the Bank (Branch wise details)

As of the responding Date, the Bank filed lawsuit against recovery of its default loans and advances as under

Principal Branch 443,136,398 365,110,755

Gulshan Branch 235,061,805 222,932,540
Mawna Branch 7,800,457 7,303,527
Agrabad Branch 289,184,476 289,164,413
Chinishpur Branch 31,923,955 29,615,840
Uttara Branch 185,340,750 163,320,355
Dhanmondi Branch 474,452,815 461,727,801
Aganagar Branch 81,165,986 -
Panchabati Branch 39,690,610 63,301,034

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Zirabo Branch 143,028,798 115,531,188

Sylhet Branch 148,201,726 31,533,858
O R Nizam Road Branch 110,192,700 93,046,625
Banani Branch 91,716,320 89,827,238
Naogaon Branch 10,073,865 8,910,770
Chandragonj Branch 40,499,543 -
Chatkhil Branch 4,927,291 2,217,719
Bordighirpar Branch 3,166,370 -
Narayangonj Branch 54,636,972 48,912,995
Mirpur Brnach 2,525,803 2,481,549
Rangpur Branch 14,228,418 -
Khulna Branch 3,066,720 3,010,875
Sonargaon Janapath Sorok Branch 90,545,023 81,808,671
Sylhet Uposhor Branch 127,801,153 97,377,238
Jubilee Road Branch 7,964,980 -
Munshibazar Branch 3,251,254 2,928,073
Phulhat Branch 56,604,259 -
Hatirpul Branch 111,935,351 73,036,803
Dhanmondi Mohila Branch 63,977,666 56,971,256
Bandura Branch 3,710,375 -
Jashore Branch 5,671,965 -
2,885,483,804 2,310,071,124

8.0 Bills purchased and discounted:

Conventional & Islamic
Repayable in Bangladesh 1,286,511,250 1,358,399,601
Repayable outside Bangladesh 298,558,273 435,680,132
1,585,069,522 1,794,079,732

8.1 Maturity grouping of Bills purchased and discounted

Receivable within a period not exceeding 01 month 671,810,861 353,338,707
Receivable within a period exceeding 01 months but less than 03 months 599,390,518 287,334,797
Receivable within a period exceeding 03 months but less than 06 months 239,456,717 986,544,983
Receivable within a period equal to 06 months or exceeding that time 74,411,427 166,861,245
1,585,069,522 1,794,079,732
8a Consolidated Bills purchased and discounted:
NRBC Bank Limited 1,585,069,522 1,794,079,732
NRBC Bank Securities Limited - -
1,585,069,522 1,794,079,732

9 Fixed assets including premises, furniture and fixtures of the Bank

Conventional and Islamic banking
Building and Construction - -
Furniture & Fixtures 1,116,904,397 588,467,071
Machinery and Plant 374,639,916 297,284,950
Office Equipment 347,916,996 228,515,188
Computer and Computer Equipment 272,060,137 179,305,799
Intangible Assets/ Bangladesh Made Computer Software 184,968,150 172,673,465
Motor Vehicles-Office Used 4,600,000 16,100,000
Motor Vehicles-Transport 15,000,000 30,750,000
Professionals and Reference Books 23,370 23,370
Leased Assets: Motor Vehicle - 20,330,624
Right-of-Use assets : Office space Note : 9.01 714,082,008 242,347,947
3,030,194,975 1,775,798,414

Less: Accumulated Depreciation-Own Assets & Lease Assets 1,006,429,689 863,767,870

Less: Accumulated Depreciation-Right of Use Assets (RoU) 195,383,926 76,971,592
1,201,813,614 940,739,463
Book Value 1,828,381,361 835,058,951

9.01 Right of use assets (Lease assets)

a. Present value of lease liabilities (obligation):
Opening Balance 202,085,347 -
Add: Inclusion 18 Brs during the year having rental tenor more than 5 Years with 445,020,272 202,085,347
Annual Rental Value Tk. 20.00 Lac
Less: Right of Use Asset due to Termination of agreement 53,182,250 -
593,923,369 202,085,347

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b. Initial payment in form of advance rent to the lessor
Opening Balance 40,262,600 -
Add: Inclusion during the year paid as Advance Rent as per ceriteria mentioned -a 79,896,040 40,262,600
Less: Remaining advance rent due to Termination of agreement - -
120,158,640 40,262,600
Total [a+b] 714,082,008 242,347,947

A schedule of fixed assets for accounting purpose and Tax Purpose Annexure-G
9a Consolidated Fixed assets including premises, furniture and fixtures
At cost:
NRBC Bank Limited 3,030,194,975 1,775,798,414
NRBC Bank Securities Limited 20,249,657 14,694,489
3,050,444,632 1,790,492,903

Accumulated depreciation:
NRBC Bank Limited 1,201,813,614 940,739,463
NRBC Bank Securities Limited 10,829,421 8,843,023
1,212,643,036 949,582,486
Net Book Value 1,837,801,596 840,910,417

10 Other assets
i. Income Generating-Equity Investment
90% equity shareholding of NRBC Bank Securities limited 360,000,000 360,000,000

NRBC Bank formed the subsidiary company NRBC Bank Securities Limited on 20 September 2015 bearing certificate of incorporation no. C-125904/2015
under the Companies Act 1994 wherein Bank has 90% stakeholding of the company.

ii. Non-Income Generating

Advance Security Deposit 6,531,549 4,914,548
Stock of Stationery and Packaging/Printing [Note -10.3] 17,471,993 13,199,116
Suspense Account [Note -10.4] 215,568,775 140,429,628
Deferred Tax Assets (Note 10.5) 711,312,912 460,007,169
Stamps in Hand 8,267,999 4,254,759
Advance Office Rent (Note 9.01 and Note 10.6) 136,877,075 116,883,325
Ekyc Settlement Balance A/c 218 -
Interest/Profit Receivable on Loans and Advances (LDOs) 2,017,330 2,216,631
Interest/Profit Receivable on Balance with Banks & FIs 32,826,212 26,482,142
Interest Receivable on Call Loan & Short Notice Loan 90,794 56,325
Interest Receivable on Treasury Bonds 516,884,550 485,633,420
Interest Receivable on Sukuk Bonds 416,100 -
Interest Receivable on Coupon Bond (Other than Govt.) 37,829,966 23,836,705
Prepaid Insurance Premium 2,795,675 1,089,226
Prepaid for House Furnishing cost & Passage for Travel (LFA) 5,658,395 15,802,527
Interest Receivable-COVID Block Account 1,270,271 627,397,978
Dividend Receivable on Share/Preference Share 8,562,941 2,616,004
Advance Income Tax [Note -10.7] 3,275,758,442 2,566,904,077
Membership with Visa Worldwide PLC Ltd. - 2,311,500
Inter Branch General Account (IBGA) Debit Balance [Note -10.8] 103,838,290 -
5,083,979,487 4,494,035,082
5,443,979,487 4,854,035,082

10.1 Aging of Others Assets

Up to 6 months 892,224,210 1,363,583,898
Over 6 Months to 1 Year 46,946,724 57,604,474
Over 1 Years to 4 Years 3,714,849 5,601,759
Above 4 Years 4,141,093,704 3,067,244,952
5,083,979,487 4,494,035,083

10.2 Classification Status of Others Assets

Unclassified 5,083,979,487 4,494,035,083
Doubtful - -
Bad/Loss - -
5,083,979,487 4,494,035,083
** No protested bill and legal expenses included in the Other Assets

10a Consolidated Other assets

NRBC Bank Limited 5,443,979,487 4,854,035,082
NRBC Bank Securities Limited 252,362,193 86,712,000
5,696,341,680 4,940,747,082
Less: Inter company transaction 361,318,217 361,284,278
5,335,023,463 4,579,462,804

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10.3 Stock of Stationery and Packaging/Printing items

(Conventional & Islamic Banking)
Packaging/Printing Stationery 16,685,059 12,292,984
Security Papers/Stationery 129,235 554,613
Stock of Stationery/Inventory 657,700 351,520
17,471,993 13,199,116
10.4 Suspense Account:
Advance Against Procurements 39,217,947 32,063,137
Receivable against payment for Principal of Govt. Securities (BSP/PSP/3MB) 114,701,685 72,282,901
Advance Agst Travelling/Dearness Allowance (TA/DA) 935,720 -
Cash Remittance - Banking Booth/Other Bank 25,055,000 17,070,000
Suspense A/C Bank POS and NPSB TXN Dispute amount 1,134,892 478,767
Suspense Payment Others 12,725,222 6,910,965
Interest Receivable Against payment for Interest of Govt. Securities (BSP/PSP/3MB) 20,974,810 10,767,799
Stamp for Utility Bill Collection 823,500 856,060
215,568,775 140,429,628

Aging of Suspense Account (31 December,2021)

Head of Account Up to 6 Months Over 6 Months Over 1 Years to Above 4 Years
to 1 Year (**) 4 Years
Advance against New Branches (**) 24,007,947 - - -
Advance Agst Travelling/Dearness Allowance (TA/DA) 935,720 - - -
Advance against Suppliers 2,865,000 12,345,000 - -
Cash Incentive agst Western Union FR Payment - - - -
Advance against TA/DA - - -
Cash Remitted to HO/Feeding Branch 25,055,000 - - -
Suspense A/C Bank POS and NPSB TXN Dispute amount 1,134,892 - - -
Principal & Intt. Paid for Govt. Securities (BSP/PSP/3MB) 115,649,495 20,027,000 - -
Suspense Others 12,209,222 516,000.00 - -
Advance against Printing and Stationary - - - -
Parking/Settlement account -
Foreign Remittance Agencies - - - -
Stamp for Utility Bill Collection 823,500 - - -
**This includes the amounts that are kept in temporary parking accounts shown under other assets. These balances are in the process of regular
monitoring so that it remains within a non material level.
10.5 Deferred Tax Assets
Opening Balance 460,007,169 356,817,790
Additional provision during the Year 251,305,742 103,189,380
Less: Adjustment/Settlement - -
711,312,912 460,007,169

Deferred tax assets/(liabilities) have been recognized and measured as per IAS-12: Income Taxes and BRPD circular # 11 dated 12 December 2011.

As per Bangladesh Bank, BRPD circular no. 11 dated December 12, 2011 deferred tax assets may be recognized but restrictions are to be followed if
deferred tax assets is calculated and recognized based on the provisions against classified loan, advances; such as i. amount of the net income after tax
increased due to recognition of deferred tax assets on such provision will not be distributed as divided. ii. the amount of deferred tax assets recognized on
such provisions should be deducted while calculating the Regulatory Eligible Capital. iii. a description should be provided regarding deferred tax assets
recognized on loan loss provision in the notes to the financial statements. On the other hand, deferred tax liabilities must be recognized for those items
which are mentioned to recognize in IAS. Hence, the bank recognized both deferred tax assets and deferred tax liabilities for Carrying vs Tax base for Fixed
Assets as well as provision for Classified loan. Furthermore, comply the aforesaid (i) regarding distribution of dividend.

10.6 Advance Office Rent

Advance Rent [Out of threshold level set by Bank and Low value for IFRS-16] 136,877,075 116,883,325
Advance Rent [Consideration of IFRS -16 as initial payment] 120,158,640 40,262,600
257,035,714 157,145,925

Portion of advance rent to landlord considered as Initial payment for IFRS 16 as Right of Use of Assets

10.7 Advance Income Tax

Advance income tax represents the tax payment to the government exchequer.
Opening Balance 2,566,904,077 2,175,887,828
Add: Advance Corporate Tax and withholding Tax during the year 708,854,365 870,491,283
3,275,758,442 3,046,379,111
Less: Settlement during the year * - 479,475,034
3,275,758,442 2,566,904,077
* [Completion of Assessment 2017-18 u/s 82BB/82BB(3)/83(2)]

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10.7.1 Advance Corp. Tax & Withholding Tax in details
Advance Corporate Tax ( Under Section #64 of ITO, 1984) 2,709,919,068 2,139,919,068
TDS@10% & 15% on Interest Income from FDR and Balance with Bank & FIs 365,548,959 344,804,002
TDS @ 20% on Cash Dividend received from Quoted Share 33,504,521 16,647,914
Tax deposited @ 5% on commission on L/C 22,587,546 14,059,744
Advance Tax to City Corporation/Purasuva under section 52k 236,175 144,675
Advance Tax on Interest on Securities of Bill and Bond (u/s 51) 141,183,574 49,564,464
Advance Tax on Others Income 231,099 4,210
Advance Tax for Bank's Pool Vehicles 2,547,500 1,760,000
3,275,758,442 2,566,904,077

10.8 Inter Branch General Account Balance Entry Type Number of Entry
Inter Branch General Account Debit Balance Debit 281 107,804,937 -
Inter Branch General Account Credit Balance Credit 93 3,966,647 -
103,838,290 -

11 Borrowings from other Banks, Financial Institutions and Agents

In Bangladesh (Note 11.1) 7,287,216,105 4,133,970,569
Outside Bangladesh - -
7,287,216,105 4,133,970,569

11.1 In Bangladesh
Re/Pre-finance Scheme from Bangladesh Bank and Institutions * 2,080,190,855 3,033,970,569
Borrowing Call from Banks 2,380,000,000 1,100,000,000
Borrowing Short Notice from Bank 1,050,000,000 -
5,510,190,855 4,133,970,569
Add: Offshore Banking Unit (OBU) 3,669,207,515 -
9,179,398,369 4,133,970,569
Less: Inter Branch Transaction with OBU 1,892,182,265 -
7,287,216,105 4,133,970,569
*Detail of Refinance from Bangladesh Bank under Branches and Product wise in the Annexure-F

11.2 Analysis by Security

Borrowing with Security - -
Borrowing without Security 7,287,216,105 4,133,970,569
7,287,216,105 4,133,970,569

11.3 Repayment pattern

Repayable on demand 4,157,025,250 1,100,000,000
Repayable on maturity/terms 2,080,190,855 3,033,970,569
6,237,216,105 4,133,970,569

11a Consolidated Borrowings from Bangladesh Bank, other Banks, Financial Institutions and Agents
NRBC Bank Limited 7,287,216,105 4,133,970,569
NRBC Bank Securities Limited 1,662,970,294 796,605,315
8,950,186,399 4,930,575,884
Less: Inter company transaction 1,408,020,848 796,605,315
7,542,165,550 4,133,970,569
11aa Bond - BASEL Capital Tier-I & II
NRBC Bank Subordinated Bond -1
Janata Bank Limited 2,000,000,000 -
Agrani Bank Limited 500,000,000 -
Sonali Bank Limited 500,000,000 -
3,000,000,000 -

Purpose of NRBC Bank SB-1 : To raise Tier-II Regulatory Capital for ensure the sustainable doing business including capital adequacy
to support healthy growth of business and thereby enhancing Capital to Risk-weighted Asset Ratio
(CRAR) as per “Guidelines on Risk Based Capital Adequacy” of Bangladesh Bank.
Effect of CRAR after NRBC Bank SB-1 for the : 13.45% Solo Basis
Reporting Period 13.58% Consol Basis
Subscription : Successfully subscribed on December 26, 2021 [Within Stipulated time]
Major Features of NRBC Bank SB-1 Issue : - Non-convertible Unsecured Fully-redeemable Floating Rate Subordinated Bonds
- Rate Basis-Reference Rate + Coupon Margin
- Coupon Range: 7.00%-9.00% p.a.
- The redemptions in 5 (five) annual tranches commenc at the end of 36th month
- Section 51 is applicable for Tax deduction at Source under ITO, 1984
Tenor or maturity : 7 Years or 84 Months from the date of Issue
Name of the trustee : UCB Investment Limited
Declard rate for 2021-22 by Trustee : 7.43% p.a

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12 Deposits and other accounts
Deposit from Inter Bank (Note-12.1) 1,050,000,000 4,150,000,000
Deposit from Customers (Note-12.2) 113,824,873,363 86,027,258,652
114,874,873,363 90,177,258,652

12a Consolidated Deposits and other accounts

NRBC Bank Limited 114,874,873,363 90,177,258,652
NRBC Bank Securities Limited 106,863,215 212,998,690
114,981,736,578 90,390,257,343
Less: Inter company transaction 34,473,941 315,951,727
114,947,262,637 90,074,305,616

12.1 Deposits from Inter Bank/FIs

Fixed Deposit/MTDR:
Agrani Bank Limited - 3,000,000,000
Bank Asia Limited 800,000,000 -
One Bank Limited - 500,000,000
Uttara Bank Limited - 500,000,000
Al Arafah Islami Bank Ltd. 250,000,000
IPDC Finance Limited - 150,000,000
1,050,000,000 4,150,000,000

12.2 Deposits and other accounts

I. Current accounts and other accounts
Current Deposit/Al-Wadeah Current Deposit Account 14,492,463,141 8,659,708,131
Non-Resident Taka Account-NRTA 721,117 575
Foreign Currency Deposit 263,540,225 132,310,787
Sundry for Retail Business 16,853,018 7,472,963
Sundry Deposit for retailer Point 177,813 80,398
Sundry Deposit Note: 12.2.1 5,741,291,412 3,340,840,832
20,515,046,726 12,140,413,686

ii. Bills Payable

Pay Order (Conventional & Islamic) 10,248,187,225 7,528,319,896

iii. Savings Bank Deposit/Mudaraba Savings Deposit (MSDA) 12,973,902,116 8,051,721,281

iv. Term Deposit/Fixed Deposit/Mudaraba Term Deposit

Fixed Deposit/Mudaraba Term Deposit Receipt Account (MTDR) 33,052,481,411 16,761,988,336
Short Term Deposit/Mudaraba Term Deposit Receipt Account (MTDR) 12,634,979,653 10,271,226,555
Schemes Deposit/Mudaraba Scheme Deposits 24,400,276,232 31,273,588,899
70,087,737,296 58,306,803,790
113,824,873,363 86,027,258,652
12.2.1 Sundry Deposit
Margin on Bank Guarantee 2,595,267,286 1,613,506,731
Margin on Letter of Credit (Conventional & Islamic) 1,745,381,943 710,275,046
Margin on Bills 205,309,285 163,685,782
Margin on IDBC/IDBP Collected Bills 14,538,983 11,830,063
Margin on IBC/IBP Collected Bills 6,000 200,000
Margin on Earnest Money Scheme 226,540,721 170,813,478
Sale Proceeds of Govt. Savings Certificates 14,925,000 11,825,000
Land Registration Collection [Parking Account] 5,484,721 7,476,641
Security Deposits 2,431,222 2,875,596
Insurance Coverage Fund on Loans and Advances 43,632,069 4,533,714
Cover Fund from Exchange House 16,897 365,654
NRBC Employees Welfare Fund 3,189,780 2,873,334
VAT, Excise Duty and Withholding Tax (Conventional & Islamic) 332,334,716 221,733,696
Value Added Tax - VAT on Utility Bills Collection 73,143,501 37,161,603
Proceed from Lottery Sale 19,106 500
Bills/Fees Collection-Agent Point 5,251 7,640
Sundry Creditors 38,104,004 44,074,225
Sundry Deposit-Agent Point 3 3
Parking/Settlement - Fund/Inst./Liabilities 109,490,551 -
Other Sundry Deposits (Conventional & Islamic) 331,470,374 337,602,129
5,741,291,412 3,340,840,832

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12.3 Demand and Time Deposits
A. Demand Deposits
Current Accounts and Other Accounts 14,493,184,258 8,659,708,706
Savings Deposits (9%) 1,167,651,190 724,654,915
Sundry Deposit 5,741,469,225 3,340,921,230
Foreign Currency Deposit 263,540,225 132,310,787
Deposit Under Q-Cash 16,853,018 7,472,963
Bills Payable 10,248,187,225 7,528,319,896
31,930,885,142 20,393,388,497
B. Time Deposits
Savings Deposits (91%) 11,806,250,925 7,327,066,365
Short Notice Deposits 12,634,979,653 10,271,226,555
Fixed Deposits 34,102,481,411 20,911,988,336
Deposit Under Schemes 24,400,276,232 31,273,588,899
82,943,988,221 69,783,870,155
Total Demand and Time Deposits 114,874,873,363 90,177,258,652

13 Other Liabilities
Conventional and Islamic banking
Accumulated Provision against unclassified Loans and Advances (Note 13.1) 1,508,063,748 1,504,416,822
Accumulated Provision against Classified Loans and Advances (Note 13.2) 1,803,943,529 1,102,231,770
Accumulated Provision against off Balance Sheet (OBS) items (Note 13.3) 480,788,796 289,096,320
Payable to Recognized NRBC Bank Employees' Gratuity Fund (Note 13.4) - -
Provision for diminution of Share of listed Company and Securities (Note 13.5) 120,995,269 3,480,655
Provision for Share, Bond and Securities - Unquoted 37,475,580 -
OBUs Account with Intl Division-HO-USD 2,035,304 -
Accrued Interest Payable (Note 13.6) 4,275,359,313 3,540,579,112
Current Income Tax Payable (Note 13.7) 4,593,375,650 3,423,593,688
Interest Suspense of classified Loans & Adavances (Note 13.9) 1,360,222,532 741,656,357
Payable/Provision for Incentive Bonus-Employees 157,864,839 114,495,450
Provision for Office Rent 9,926,209 7,909,598
Settlement/Parking GL Account 26,982 -
Lease liabilities (present value of lease payments) (Note 13.10) 452,148,531 141,447,585
Unearned Income [Islamic Banking] 28,190,893 6,774,799
Compensation Account [Islamic Banking] 195,569 76,037
Payable/Provision for Ex-gratia-Security and Cleaning support Staff 34,872,840 12,000,000
FC Held Against BTB Bills, EDF Loan and Others 1,676,548,924 1,593,287,348
Start Up Fund (Note: 13.11) 34,267,741 13,428,300
Corporate Social Responsibility (CSR) Fund (Note: 13.12) 16,350 13,428,300
Audit Fees payable 862,500 690,000
Accrued Revenue for Disbursement-Cards Business 4,488,102 2,698,888
BACH Clearing Settlement 2,100 -
Inter Branch General Account (IBGA) Credit Balance (Note 13.13) - 347,157
16,581,671,302 12,511,638,186

Less: Inter Branch Transaction with OBU

13.1 Provision against Unclassified of loans, advances and lease/investments

Conventional and Islamic banking
Standard including Staff loan 880,360,287 828,602,502
Special General Provision-COVID-19 416,576,201 284,637,268
Special Mentioned Account (SMA) 211,127,260 391,177,052
1,508,063,748 1,504,416,822

I. General Provision for Standard Loans

Provision held at the beginning of the period 828,602,502 417,704,065
Add : Provision During the period 51,757,785 410,898,437
880,360,287 828,602,502

ii. General provision for Special Mentioned Account (SMA)

Provision held at the beginning of the period 391,177,052 245,583,904
Add: Provision during the period (180,049,792) 145,593,148
211,127,260 391,177,052

13.2 Provision against classified off loans, advances and lease/investments

Substandard 252,344,096 8,646,796
Doubtful 6,306,677 28,979,451
Bad/Loss 1,545,292,756 1,064,605,522
1,803,943,529 1,102,231,770

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13.2.1 Movement of Provision against Classified Loans and Advances/Investments
The movement in specific provision for Bad and Doubtful Debts
Provision held at the beginning of the period 1,102,231,770 846,915,130
Less : Fully provisioned Depreciated/written off loan during the period -
Add: Recovery of amounts previously Depreciated /written off Loan -
Add: Special provision kept for the period for other Accounts -
Add: Transferred to general provision of Unclassified Loans -
Add : Transferred from general provision of Unclassified Loans -
Less: Recoveries and such provision which are no longer required -
Add: Net charge to Profit and Loss Statement (Note 36) 701,711,760 255,316,640
Provision held as on December 31, 2021 1,803,943,529 1,102,231,770

13.3 Movement the Provision against Off Balance Sheet (OBS) items
Provision held at the beginning of the period 289,096,320 220,160,069
Less : Transferred to general reserve - -
Add: Provision made during the period 191,692,476 68,936,251
Less: Adjustment during the period - -
Provision held as on December 31, 2021 480,788,796 289,096,320

13.3.1 Particulars of required provisions for off balance sheet items

Outstanding % of Required Required Prov. Required Provision

Particulars Amount (Tk.) June-2020 December-2020
Provision
Acceptances and endorsements 10,153,585,783 1.00% 101,535,858 47,219,346
Letters of guarantee 25,797,741,477 1.00% 257,977,415 163,689,591
Irrevocable letters of credit 12,124,268,552 1.00% 121,242,686 78,187,382
Bills accepted for collection 5,524,819,787 0.00% - -
Required Provision 480,755,958 289,096,320
Previous Year Balance 289,096,320 220,160,069
Required charged to Profit and Loss account (Note-38) 191,659,638 68,936,251

13.4 Recognized NRBC Bank Employees' Gratuity Fund

Opening Balance - -
Add: Contribution made by Bank during the year 20,000,000 12,500,000
Less: Release from Bank to the Trust Fund 20,000,000 12,500,000
Closing Balance - -

National Board of Revenue approved "NRB Commercial Bank Limited Employees' Gratuity Fund" on 21 September 2014,
(Ref:08.01.0000.03502.0021.2014/322) as per clause 2, 3, 4 of Part-C of First Schedule, Income Tax Ordinance 1984. "The Trusty" will manage the fund
and settle the liabilities of employees.

13.5 Provision for diminution of Share of listed Company and Securities

Opening Balance 3,480,655 140,596,522

Add: Provision kept for devaluation of Share value of DSE & CSE invested by Bank 117,514,614 -
Less: Decrease of devaluation of Share value of DSE & CSE invested by Bank - 137,115,867
Closing Balance 120,995,269 3,480,655

13.5.1 Required Provision for diminution of Share of listed Company and Securities
Opening Balance 3,480,655 140,596,522
Add: Provision kept for devaluation of Share value of DSE & CSE invest by Bank 117,514,614 -
[Note: 13.5.1.1 and Note 13.5.1.2]
Less: Decrease of devaluation of Share value of DSE & CSE invest by Bank - 137,115,867
120,995,269 3,480,655
Provision requirement for quoted and unquoted share 120,995,269 3,480,655
Provision maintained 120,995,269 3,480,655
Excess/(Shortfall) - -

13.5.1.1 Provision for diminution (gain net of) of value of quoted shares has been made as per DOS circular no. 4, dated 24 November 2011 and for mutual funds
(closed-end) as per DOS circular letter no. 03 dated 12 March 2015 of Bangladesh Bank.

13.5.1.2 BO # 1205950072055133 at NRBC Bank Securities Limited under scheme of special Fund as per direction of DOS Circular 01, Dated February 10, 2020
incurred unrealized loss of Tk.4,860,4478.30 for the period ended December 31, 2021 has not been kept as per Clause cha (2)(i) of aforsaid circular.

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13.6 Accrued Interest/Profit Payable
Conventional and Islamic banking
Interest/Profit Payable on SB A/C 100 99
Interest Payable of FDR-Day basis 1,919,753 3,261,726
Interest/Profit Payable of FDR-1 month 2,067,253 821,877
Interest Payable of FDR-1 month-Agent 11,212 10,465
Interest/Profit Payable of FDR-3 months 81,747,798 48,968,898
Interest Payable of FDR-3 months-Agent 53,174 50,006
Interest/Profit Payable of FDR-6 months 68,561,089 43,707,253
Interest Payable of FDR-6 months-Agent 32,750 17,242
Interest/Profit Payable of FDR-12 months 251,868,412 146,137,958
Interest Payable of FDR-12 months-Agent 283,615 218,991
Interest Payable of FDR-24 months 12,344,114 9,162,678
Interest Payable of FDR-24 months-Agent 43,924 90,565
Interest Payable of FDR-36 months 18,508,003 19,706,809
Interest/Profit Payable on Deposit Under Scheme 3,816,665,604 3,236,677,611
Interest Payable on Refinance from Bangladesh Bank 8,018,254 19,750,656
Interest Payable on Borrowing from Other Banks & FIs 6,494,722 11,935,167
Interest Payable on Borrowing from Call Money and Short Notice 537,778 61,111
Interest Payable on Mudaraba Term Depsoit 61,111 -
Interest Payable on Subordinated Bond 3,053,425 -
4,272,272,090 3,540,579,112

Add: OBU- Interest Payable for Borrowing from Banks -USD (LCY) 3,087,223

4,275,359,313 3,540,579,112

13.7 Current Income Tax Payable

Opening Balance 3,423,593,688 3,102,980,126
Add: Provision during the Period Note: 39 1,169,781,963 800,088,596
Less: Adjustment during the period -
Less: Payment - 479,475,034
4,593,375,650 3,423,593,688

13.8 Deferred Tax Payable

Opening Balance
Additional Expenses during the Year
Less: Adjustment/Settlement

Deductible temporary differences may be incurred due to application of different depreciation method from third schedule of ITO-1984 and classified
loan loss provision. Inception of company, temporary difference in respective accounting depreciation was lesser than tax depreciation which already
been revert. At the same, BRPD circular no 06 dated 31 July 2011 impairment of loan assets claimed for deferred tax purpose unless it will be expense
while write off from Books of account and will be charge in the profit & loss account.

13.9 Movement of Interest Suspense Account:

Opening Balance at 1 January 741,656,357 471,573,179
Add: Amount of Interest Transferred/credited as suspended in the Year 1,020,979,869 524,879,218
1,762,636,226 996,452,396
Less: Amount of suspended interest Recovered during the year 344,555,897 211,809,072
Less: Amount of suspended interest depreciated/Waived during the year 57,857,797 42,986,967
1,360,222,532 741,656,357

13.10 Lease liabilities

Balance as at 1 January 141,447,585 202,085,347
Add: Inclusion Lease liabilities considering addl 18 Brs having 5 yrs Tenor with 445,020,272
annual rental Value more than Tk. 20 Lac
Add: Interest charge during the year 24,234,766 15,394,113
610,702,623 217,479,461
Less: Remaining Lease liabilities due to Termination of agreement 28,676,968
Less : Payment made during the year 129,877,124 76,031,876
452,148,531 141,447,585

The lease liabilities represents the present value of the lease payments discounting using the incremental borrowing rate @8.86% for the 2020 and
@4.24% for the 2021 of 5 year weighted Treasury Bond rate on January 2020 as per IFRS 16 against which right-of- use assets has been arisen (ref:
Annex G).

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13.11 Start Up Fund
Opening Balance 13,428,300
Add: Transfer from Retained Profit 20,839,441 13,428,300
34,267,741 13,428,300

13.12 Corporate Social Responsibility (CSR) Fund

Opening Balance 13,428,300
Add: Transfer from Retained Profit - 13,428,300
Less: Paid during the period (Distributed among the Beneficiaries) 13,411,950
16,350 13,428,300

13.13 Inter Branch General Account Balance

No. of Entry
Inter Branch General Account Credit Balance - - 555,936
Inter Branch General Account Debit Balance - - 208,779
- 347,157

Note: Aging of Outstanding amount of Inter Branch General account Balance is less than 01 month

13a Consolidated Other liabilities

NRBC Bank Limited 16,581,671,302 12,511,638,186
NRBC Bank Securities Limited 317,761,898 45,399,132
16,899,433,200 12,557,037,318
Less: Inter company transaction 1,318,217 1,284,278
16,898,114,983 12,555,753,040

14 Share Capital

14.1 Authorized Capital

100,00,00,000 ordinary shares of Taka 10 each 10,000,000,000 10,000,000,000

14.2 Issued, Subscribed and Fully Paid-up-Capital

737,642,848 ordinary shares of Taka 10 each 7,376,428,479 5,825,169,980

14.3 Movement of Paid-up-Capital

Opening Balance 5,825,169,980 5,710,951,240
Add: IPO subscription of 120,000,000@ Tk.10* 1,200,000,000 -
Add: Issue as Bonus share 5% for the year 2020** 351,258,499 114,218,740
7,376,428,479 5,825,169,980

* Paid up capital raised at Tk. 7,025.00 million through IPO subscription of the bank from February 3 to February 9, 2021 followed by Bangladesh
Securities Exchange Commission consent letter no. BSEC/CI/IPO-307/2020/304, dated January 4, 2021 and subsequently listed in DSE and CSE.

**In the 8th AGM held on June 26, 2021, the shareholder approved 5.00 percent stock dividend on basis of record date May 31, 2021

14.4 Particulars of Share Capital

Shareholding as of 31.12.2021 Shareholding as of 31.12.2020

Particulars No. of Shareholders
In Number In Percentage In Number In Percentage
Sponsors/Promoters 55 540,800,594 73.31% 515,048,214 88.42%
Shareholders/Public 18587 176,901,317 23.98% 67,468,784 11.58%
Institutions 314 19,940,936 2.70% -
Total 18956 737,642,847 100.00% 582,516,998 100.00%

14.5 Movement of Paid Up Capital:

Year Declaration Number of Shares Value (TK) Cumulative

2013 Initial 444,605,900 4,446,059,000 4,446,059,000
2014 - - 4,446,059,000
2015 - - 4,446,059,000
2016 Bonus @3% for the Year-2015 13,338,177 133,381,770 4,579,440,770
2017 Bonus @7% for the Year-2016 32,056,069 320,560,690 4,900,001,460
2018 Bonus @ 5% for the Year-2017 24,499,988 244,999,880 5,145,001,340
2019 Bonus @ 11% for the Year-2018 56,594,990 565,949,900 5,710,951,240
2020 Bonus @ 2% for the Year-2019 11,421,874 114,218,740 5,825,169,980
2021 IPO subscription of the bank from February 3 to February 9, 2021 followed by 120,000,000 1,200,000,000 7,025,169,980
Bangladesh Securities Exchange Commission consent letter no.BSEC/CI/IPO-
307/2020/304, dated January 4, 2021
2021 Bonus @ 5% for the Year-2020 35,125,850 351,258,499 7,376,428,479

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14.6 Name of the Directors and their shareholdings according to Form XII along with Schedule X and Form XV

As of 31 December 2021
SL Name of the Directors Status
No. of Shares held Taka Holding %
1 Mr. SM Tamal Parvez Chairman 34,715,692 347,156,920 4.71%
2 Mr. Mohammed Adnan Imam,FCCA Director 17,255,843 172,558,430 2.34%
3 Mr. Rafikul Islam Mia Arzoo Director 31,986,799 319,867,990 4.34%
4 Mr. Mohammed Oliur Rahman Director 25,872,208 258,722,080 3.51%
5 Mr. Abu Bakr Chowdhury Director 28,248,937 282,489,370 3.83%
6 Mr. Loquit Ullah Director 27,999,874 279,998,740 3.80%
7 Mr. Mohammed Nazim Director 28,062,228 280,622,280 3.80%
8 Mr. AKM Mostafizur Rahman Director 20,787,159 207,871,590 2.82%
9 Mr. Abu Mohammad Saidur Rahman Director 19,287,960 192,879,600 2.61%
10 Air Chief Marshal Abu Esrar, BBP, ndc (Retd.) Independent Director - -
11 Dr. Khan Mohammad Abdul Mannan Independent Director - -
12 Mr. Raad Mozib Lalon, PhD Independent Director - -

The Board of directors represent/hold 31.75% share of the company.

14.7 Capital to Risk Weighted Assets Ratio (CRAR) - as per BASEL III for period end on December 31, 2021
In terms of section 13(2) of Banking Companies Act, 1991 and Bangladesh Bank BRPD Circular No. 07 & 18 dated March 31, 2014 and December 21, 2014
respectively, required capital based on RWA (Solo and Consolidated Basis) of the Bank are shown below:

Core Capital/Common Equity (Tier-I) (Going Concern Capital) Amt in Million Amt in Million
Solo Basis Consolidated Basis
Fully Paid-up-Capital 7,376.43 7,376.43
Statutory Reserve 2,467.27 2,471.02
Retained Earnings 1,879.43 2,056.79
Non-Controlling Interest in Subsidiaries - 60.12
11,723.13 11,964.37
Regulatory Adjustment from Tier-1 (Core Capital)
Deferred Tax Assets (DTA) 642.65 642.65
Admissible Tier-I Capital 11,080.48 11,321.72
Total Admissible Additional Tier-1 Capital 11,080.48 11,321.72

Tier -2 Capital (Gone-Concern Capital)

General Provision 1,988.85 2,013.93
NRBC Bank Sub-ordinated Bond-1 3,000.00 3,000.00

Regulatory Adjustment from Tier-2

Admissible Tier-II Capital 4,988.85 5,013.93
Total Regulatory Capital (Tier I + Tier II) 16,069.33 16,335.65

A. Total Assets including off-Balance Sheet items 207,153 208,038

B. Total Risk-Weighted Assets (RWA)

Credit Risk on
Balance Sheet Exposure 89,929.93 90,524.37
Off Balance Sheet Exposure 14,846.29 14,846.29
104,776.22 105,370.65
Market Risk 6,438.25 6,605.64
Operational Risk 8,268.40 8,342.73
119,482.86 120,319.02
C. Required capital based on Risk Weighted Assets (12.5% of RWA for December 31, 2021) 14,935.36 15,039.88

D. Capital Surplus / (Shortfall) 1,133.97 1,295.77

E. Capital to Risk Weighted Assets Ratio (CRAR) (%) 13.45% 13.58%

Capital Requirement (Percentage of Capital on Risk-Weighted Assets)
Solo Consolidated
Required Held Required Held
Core Capital (Tier - I) excl. Cap. Conservation Buffer 7.00% 9.27% 7.00% 9.41%
Supplementary Capital (Tier II) 4.18% 4.17%
Total Capital to Risk Weighted Assets Ratio (CRAR) 13.45% 13.58%

Minimum Total Capital plus Capital Conservation Buffer for 12.50% 12.50%
December 31, 2021
Excess/(Shortage) of CRAR for December 31, 2021 0.95% 1.08%

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14.8 Capital to Risk Weighted Assets Ratio (CRAR) - as per BASEL III for period end on 31.12.2020
In terms of section 13(2) of Banking Companies Act, 1991 and Bangladesh Bank BRPD Circular No. 07 & 18 dated March 31, 2014 and December 21,
2014 respectively, required capital based on RWA (Solo and Consolidated Basis) of the Bank are shown below:

Amt in Million Amt in Million

Core Capital/Common Equity (Tier I) (Going Concern Capital) as of 31.12.2020 Solo Basis Consolidated Basis

Fully Paid-up Capital/Funds from Head Office for the Purpose of Meeting the Capital Adequacy 5,825.17 5,825.17
Statutory Reserve 1,866.79 1,866.79
Retained Earnings 1,294.95 1,332.48
Non-Controlling Interest in Subsidiaries - 44.17
8,986.91 9,068.61

Regulatory Adjustment from Tier-1 (Core Capital)

Deferred Tax Assets (DTA) 392.67 392.67
392.67 392.67
Admissible Tier-I Capital 8,594.24 8,675.94

Total Additional Tier-1 Capital Available 8,594.24 8,675.94

Tier -2 Capital (Going-Concern Capital)

General Provision 1,796.99 1,796.99
1,796.99 1,796.99
Regulatory Adjustment from Tier-2 - -
1,796.99 1,796.99
Admissible Tier-II Capital 1,796.99 1,796.99
Total Regulatory Capital (Tier I + Tier II) 10,391.24 10,472.93

A. Total Assets including off-Balance Sheet items 152,104.30 152,127.16

B. Total Risk-Weighted Assets (RWA)

Credit Risk on
Balance Sheet Exposure 56,966 56,672
Off Balance Sheet Exposure 10,609 10,609
67,574.95 67,281.75
Market Risk 7,151.59 7,317.19
Operational Risk 8,271.15 8,305.10
82,997.69 82,904.03

C. Required capital based on Risk Weighted Assets (12.50% of Total RWA for 2020) 10,374.71 10,363.00

D. Capital Surplus / (Shortfall) 16.53 109.93

(E) Capital to Risk Weighted Assets Ratio (CRAR) (%) 12.52% 12.63%

Calculation basis of Risk Weighted Assets in the Annexure-H (A)- Solo and Annexure-H (B)-Consol Basis Capital Requirement (Percentage of Capital on Risk-Weighted
Assets)

Solo Consolidated
Required Held Required Held

Core Capital (Tier - I) plus Cap. Conservation Buffer 7.00% 10.35% 7.00% 10.47%
Supplementary Capital (Tier II) 2.17% 2.17%
Total Capital to Risk Weighted Assets Ratio (CRAR) 12.52% 12.63%

Minimum Total Capital plus Capital Conservation Buffer for 2020 12.50% 12.50%

Excess of CRAR for December 31, 2020 0.02% 0.13%

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15 Statutory Reserve
Opening Balance at the beginning of the period 1,866,788,986 1,458,843,141
Add: Addition during the year * 600,484,058 407,945,845
Add./less Adjustment for Foreign Exchange Rate Fluctuation - -
Closing Balance at the end of the period 2,467,273,044 1,866,788,986

* As per Section-24 of Banking Companies Act 1991, 20% of Pre Tax Profit has been transferred to statutory Account

15a Statutory/Capital reserve

NRBC Bank Limited 2,467,273,044
NRBC Bank Securities Limited 4,168,280
2,471,441,325
Less: Minority Interest 416,828
2,471,024,497

16 Revaluation reserve:
Assets Revaluation Reserve (Note 16.1) - -
Investment Revaluation Reserve (Note 16.2) 85,493,276 810,630,704
Foreign Currency Translation/Revaluation Reserve (Note 16.3) - -
85,493,276 810,630,704

16.1 Assets Revaluation Reserve

Opening Balance at the beginning of the period - -
Add: Addition during the year (+) -
Less : Adjustment during the year (-) -
Closing Balance at the end of the period - -

16.2 Investment Revaluation Reserve:

Revaluation Reserve for HFT Securities (a)
Opening Balance at the beginning of the period 806,099,685 977,534
Add: Addition during the year (+) - 805,122,151
Less : Adjustment during the year (-) 727,569,205 -
Closing Balance at the end of the period 78,530,481 806,099,685

Revaluation Reserve for HTM Securities (b)

Opening Balance at the beginning of the period 4,531,019 4,032,413
Add: Addition during the year (+) 2,431,777 498,606
Less : Adjustment during the year (-) - -
Closing Balance at the end of the period 6,962,795 4,531,019

Total Revaluation Reserve for HFT & HTM Securities (a+b) 85,493,276 810,630,704

Revaluation Reserve of HTM and HFT Securities transferred to Revaluation Reserve Account as per Bangladesh Bank DOS Circular No. 05 dated 26
May 2008 of which 50% of Revaluation Reserve is treated as Supplementary Capital.

16.3 Foreign Currency Translation/Revaluation Reserve

Opening Balance at the beginning of the period - -
Add: Addition during the year (+) - -
Closing Balance at the end of the period - -

16a Consolidated Other Reserve:

NRBC Bank Limited 85,493,276 810,630,704
NRBC Bank Securities Limited - -
85,493,276 810,630,704

17 Retained Earnings/Movement of Profit and Loss Account

Opening Balance 1,294,954,040 1,015,131,111
Add: Post-Tax Profit during the period (+) 2,083,944,071 1,342,830,010
Less: Transfer to Statutory Reserve (-) 600,484,058 407,945,845
Less: Cash Dividend (-) 526,887,749 513,985,612
Less: Stock Dividend (-) 351,258,499 114,218,740
Less: Payment the Fraction of share to shareholder (-) - 285
Less: Start Up Fund [Note: 17.1] (-) 20,839,441 13,428,300
Less : Corporate Social Responsibility (CSR) Fund [Note: 17.2] (-) - 13,428,300
Less: Transfer to General Reserve (-) - -
Add/(Less): Foreign Exchange Translation Loss (+) - -
1,879,428,364 1,294,954,040

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17.1 Start Up Fund:
According to SMESPD Circular no. 04 dated March 29, 2021 and SMESPD Circular letter no. 05, Dated April 26, 2021, Schedule Bank will form start Up fund
for extending Loan/Refinance facilities view to creation of New Entrepreneur and self-employment in the country. The basis of Start Up is the 1% of net
profit of that concern year and Bank will extend credit to that amount for prospective client as mentioned in the circular. Though, above mentioned circular
para Kha(2) is also instructed to site aside and will be shown in other liabilities which is paradox of BASEL III accord of BRPD Circular No. 07 & 18 dated
March 31, 2014 and December 21, 2014. Site aside from retained profit will reduce to Capital to Risk Weighted Assets Ratio (CRAR) meaning that
loan/Investment will be contraction. The Retain Profit will work as reinvestment facilities and Bank will ensure Loan/Refinance facilities of that 1% of net
profit. This SMESPD Circular no. 04 dated March 29, 2021 and and SMESPD Circular letter no. 05, Dated April 26, 2021 are also paradox of the section 16G of
Income Tax Ordinance, 1984 [ 10% tax shall be payable on the total amount so transferred more than 70% of that income year in form retained profit,
Reserve, etc.]

Start Up Fund Basis of Fund Net Profit At Dec 31, 2021 At Dec 31, 2020
% of Net Profit Taka Taka
Opening Balance 13,428,300 -
Addition during the year 1% 2,083,944,071 20,839,441 13,428,300
34,267,741 13,428,300

17.2 Corporate Social Responsibility (CSR) Fund :

According to BRPD Circular no. 09 dated April 26, 2021 Schedule Bank must allocate for Corporate Social Responsibility (CSR) Fund amid of combating
corona virus effect of the economy.

Addition during the year - 13,428,300

- 13,428,300

No such requirement of Corporate Social Responsibility (CSR) Fund prevail for the Year 2021

17a Retained Earnings/Movement of Profit and Loss Account

NRBC Bank Limited 1,879,428,364 1,294,954,040
NRBC Bank Securities Limited 197,072,101 41,692,735
2,076,500,465 1,336,646,775
Less: Minority Interest 19,707,210 4,169,274
2,056,793,255 1,332,477,501

17b Non-Controlling Interest -

NRBC Bank Securities Limited:
Equity Capital of Minority Group 40,000,000 40,000,000
Add: Retained Earning/(Loss) 19,707,210 4,169,274
Add: Capital reserve 416,828
60,124,038 44,169,274

18 Contingent liabilities 53,600,415,599 35,446,633,626

18.1 Acceptances and Endorsements

Accepted Bills Against BTB LC - Local 2,513,029,709 2,569,270,757
Accepted Bills Against BTB LC - Foreign 1,014,283,780 579,731,461
Customer Liability agst EDF Fund 67,126,229 136,711,731
Accepted Bills Against BTB LC EPZ 2,472,413,723 1,996,296,963
Accepted Bills Against LC Cash-Local 166,051,800 61,145,543
Accepted Bills Against LC Cash-Foreign 3,920,680,541 1,322,821,522
Accepted Bills Against LC Cash-EPZ - 52,253,619
10,153,585,783 6,718,231,595

18.2 Letters of Guarantee

Money for which the Bank is in contingently liable in respect of Guarantees issued in favour of:
Directors - -
Government - -
Banks and other Financial Institutions -
Others (Note 18.2.1) 25,797,741,477 16,368,959,148
25,797,741,477 16,368,959,148

18.2.1 Letters of Guarantee -Others

Shipping Guarantee Against Cash LC-Sight 205,439,106 61,690,443
Bid Bond Local 2,963,956,457 1,740,287,914
Performance Guarantee Local 19,328,354,210 11,155,197,440
Advance Payment Guarantee Local 3,299,991,704 3,411,783,351
Shipping Guarantee agst. BTB LC - -
25,797,741,477 16,368,959,148

18.3 Irrevocable Letters of Credit (Conventional &Islamic) 12,124,268,552 7,818,738,221

18.4 Bills For Collection (Conventional &Islamic) 5,524,819,787 4,540,704,662

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18.5 Workers’ profit participation fund (WPPF)
As per Bangladesh Labour Act 2006 and SRO no. 336/Law/2010, all companies falling within the scope of WPPF are required to provide 5% of its profit before
charging such expense to their eligible employees within the stipulated time. Bank and Financial Institution Division, Ministry of Finance, vide their letter
no.53.00.0000.311.22.002.17.130 dated 14 February 2017 opined that Chapter 15 “Participation in company Profit by Worker” of Bangladesh Labor Act,
2006 and amendment made in the July 22, 2013, is not applicable for Bank & Financial Institution. As such the Bank did not make any provision for WPPF.
2021 2020
Taka Taka
19 Income statement
Income:
Interest, discount and similar income (Note-19.1) 9,775,045,375 8,593,885,856
Dividend income (Note-22) 90,301,281 36,388,149
Fees, commission and brokerage (Note-23) 893,103,649 742,298,294
Gains less losses arising from dealing in securities (Note-19.2) 1,042,071,899 1,049,145,043
Gain on Termination of Right of Use of Assets [as per IFRS 16] (Note: 22.02) 1,520,074
Gains less losses arising from investment securities - -
Gains less losses arising from dealing in foreign currencies - -
Income from non-banking assets - -
Other operating income (Note-24) 349,422,812 274,083,049
12,151,465,088 10,695,800,392

Expenses:
Interest/profit paid on deposits, borrowings, etc. (Note-21) 4,569,458,163 4,923,927,439
Losses on loans, advances and lease/investments - -
Administrative expenses (Note-19.3) 2,904,849,705 2,259,661,828
Other operating expenses (Note-35) 288,015,455 212,723,811
Depreciation on banking assets (Note-34) 334,680,118 231,492,211
8,097,003,442 7,627,805,288

Operating Profit of the Bank 4,054,461,647 3,067,995,104

19.1 Interest, discount and similar income

Interest Income (Note 20) 7,902,903,813 6,620,951,918
Interest on Treasury Bills (Note:22) - 42,256,954
Interest Income Money at Call (Note:22) 10,038,925 45,122,586
Interest on Govt. Treasury Bond (Note:22) 1,655,484,863 1,720,443,552
Interest on Coupon Bond (Other than Govt.) (Note:22) 184,399,837 165,078,380
Interest on Reverse Repo (Note:22) - 32,466
Income from Govt. Islamic Bond (Note:22) 201,462 -
Income/Profit from Govt. Sukuk Bonds (Note:22) 17,766,489 -
Interest on Zero Coupon Bonds - -
Interest on Bangladesh Bank Bill (Note:22) - -
Gain on Sale of Assets, Properties and Others (Note:22) 4,249,986 -
9,775,045,375 8,593,885,856
19.2 Gains less losses arising from dealing in securities
Gain on Sale of Shares and Securities listed with DSE/CSE (Note:22) 447,536,999 -
Gain on Sale of Bonus Shares listed with DSE/CSE (Note:22) - -
Prize Money from Winning of Prize Bond (Note:22) 10,000 10,000
Gain on Sale of Bonus Share(Note: 22) 78 -
Gain on Sale of Approve Govt. Securities (Note: 22) 1,109,680,250 1,577,316,736
1,557,227,327 1,577,326,736
Less: losses arising from dealing in securities 515,155,428 528,181,693
1,042,071,899 1,049,145,043

19.3 Administrative expenses

Salaries and Allowances (Note: 25) 2,087,048,876 1,668,779,529
Rent, Taxes, Insurance, Electricity, etc. (Note: 26) 307,599,297 275,523,408
Regulatory and Legal expenses (Note: 27) 38,360,897 13,362,261
Postage, Stamps, Telecommunication, etc (Note: 28) 50,170,978 34,035,691
Stationery, Printing, Advertisement, etc (Note: 29) 337,136,927 205,118,843
Chief Executive's salary and fees (Note: 30) 12,149,459 11,445,703
Directors' Fees & Meeting Expenses (Note: 31) 10,488,328 14,628,445
Auditors' Fees (Note: 32) 1,058,250 862,500
Purchased of Spares parts/Accessories for Replacement of Banks Assets (Note: 34) 55,080,284 31,993,517
Repairs of Bank's Assets (Note: 34) 5,756,409 3,911,930
2,904,849,705 2,259,661,828

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20 Interest Income/profit on investments
Interest/Profit on Loans and Advances:
Loans and Advances 7,282,636,026 6,257,624,187
Bills Purchased and Discounted 19,621,789 34,949,742
7,302,257,815 6,292,573,930

Offshore Banking Unit (OBU) 34,073,797 -

7,336,331,612 6,292,573,930
Interest/Profit/Rebate on:
Bangladesh Bank - -
Bank & Financial Institutions in Local Currency (LCY) 187,795,565 147,901,831
Foreign and Domestic Bank & Financial Institutions in Foreign Currency (FCY) 378,657,469 180,476,158
566,453,034 328,377,989
Balance with Banks in FCY: Offshore Banking Unit(OBU) 119,167 -
566,572,201 328,377,989

7,902,903,813 6,620,951,918
20.1 Product wise Interest/profit on investments
Interest Income on Overdraft 1,524,803,229 1,376,785,836
Interest Income-Term Loan 1,334,801,843 1,073,952,850
Interest Income-Lease Finance 81,735,613 65,314,519
Interest Income-Hire Purchase 223,460,474 228,515,173
Interest Income on Corporate Staff Loan 3,452,593 -
Interest Income- Time Loan-Corporate 182,679,836 743,891,828
Interest Income on Overdraft-Corporate 55,173,736 -
Interest Income on PAD- Corporate 60,360 -
Interest Income-LTR 248,416,147 324,369,599
Interest Income-Packing Credit 50,187,683 63,812,282
Interest Income-EDF Loan 36,969,681 24,615,680
Interest Income from Personal Loan 14,009,393 -
Interest Income - SME Credit 1,055,524,013 698,004,038
Interest Income on Retail Credit 463,335,742 69,635,327
Interest Income from Agricultural Credit 85,186,031 80,924,679
Interest Income from Construction Finance 277,400,879 285,454,975
Interest Income- Payment Against Documents(PAD) 16,143,055 25,343,893
Interest Income from Staff Loan 22,048,271 16,810,484
Interest Income from Forced Loan 231,499,042 273,788,993
Interest Income from Micro Credit 51,986,929 5,662
Interest Income from Cash Credit Hypo 716,764,488 905,357,567
Profit received from Musharaka 137,477 -
Profit received from Bai-Murabaha 11,013,309 480,855
Profit received from Bai-Muazzal 2,184,883 -
Profit received from Single Bi-Salam 194,313 -
Profit from Hire Purchase Shirkatul Meelk (HPSM) 589,426,853 559,946
Profit received from Quard 2,051,812 -
Interest Income-Term Loan-Corporate 1,988,343 -
7,282,636,026 6,257,624,187
Profit Rcvd. from Bills Purchased and Discounted-Islamic Banking 4,468,855 2,274,824
Interest Income on Bill Purchased and Discounted -Offshore Banking 1,355,826 -
Interest Income on Import Bill -Lcy -Offshore Banking 32,717,971 -
Interest Income from Documentary Bill Purchase 15,152,934 32,674,918
7,336,331,612 6,292,573,930
20a Consolidated Interest Income/Profit on investments

NRBC Bank Limited 7,902,903,813 6,620,951,918

NRBC Bank Securities Limited 190,817,233 43,229,986
8,093,721,046 6,664,181,904
Less: Inter company transaction 110,003,258 24,676,287
7,983,717,788 6,639,505,617
21 Interest Paid/profit shared on Deposits and Borrowings, etc.

Interest Paid on Deposits (Note 21.1) 4,389,314,322 4,497,828,951

Interest Paid on Borrowings (Note 21.2) 180,143,841 426,098,488
4,569,458,163 4,923,927,439

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21a Consolidated Interest Paid/Profit shared on Deposits and Borrowings, etc.

NRBC Bank Limited 4,569,458,163 4,923,927,439

NRBC Bank Securities Limited 110,003,258 24,676,287
4,679,461,421 4,948,603,726
Less: Inter company transaction 110,003,258 24,676,287
4,569,458,163 4,923,927,439
21.1 Interest Paid/Profit shared on Deposits

Current Account 39,339,516 24,444,729

Savings Account/Mudaraba Savings Deposit (MSDA) [Customer] 157,447,419 118,327,275
Savings Account [Staff] 2,338,243 1,889,752
Special Notice Deposits (SND)/ Mudaraba Savings Deposit (MSDA) 410,633,896 278,125,855
Interest/Profit paid on Sohoj Sanchay 102,969,506 69,552,748
Fixed/Mudaraba Deposit Receipts 1,170,184,118 876,281,091
Schemes/Mudaraba Scheme Deposits 2,506,401,624 3,129,207,501
4,389,314,322 4,497,828,951

21.2 Interest Paid on Borrowings

Interest Expense on Borrowing from Bangladesh Bank 8,552,145 7,166,239
Interest Expense on USD Borrowings 152,285 521,500
Interest Expense on Call and Short Notice borrowing 96,128,084 115,617,458
Interest Expense for REPO Borrowed from Other Banks and FIs 6,729,518 201,577,958
Interest Expense for Bond and Refinance from Bangladesh Bank and Bank/Institutions 30,544,744 20,625,986
Interest Expense on Other Bank and Fin. Institutions (FI) Deposit 38,037,065 80,589,348
180,143,841 426,098,488
22 Investment Income
Conventional and Islamic banking
Interest on Govt. Treasury Bills - 42,256,954
Interest on Money at call and S. Notice 10,038,925 45,122,586
Interest on Govt. Treasury Bond (Note: 22.01) 1,655,484,863 1,720,443,552
Interest on Coupon Bond (Other than Govt.) 184,399,837 165,078,380
Interest on Reverse Repo of Govt. Treasury Bond - 32,466
Income from Govt. Islamic Bond 201,462 -
Income/Profit from Govt. Sukuk Bonds 17,766,489 -
Dividend Income from Share and Securities 90,301,281 36,388,149
Prize Money from Winning of Prize Bond 10,000 10,000
Gain on Termination of Right of Use of Assets [as per IFRS 16] (Note: 22.02) 1,520,074 -
Gain on Sale of Bonus Share 78 -
Gain on Sale of Shares and Securities listed with DSE/CSE 447,536,999 -
Gain on Sale of Assets, Properties and Others 4,249,986 -
Gain on Sale of Approve Govt. Securities 1,109,680,250 1,577,316,736
3,521,190,244 3,586,648,824

22.01 Interest on Treasury Bond (Net)

Interest Income on Treasury Bond Through Auction and purchased from Secondary Security 2,603,452,039 2,375,055,598
Interest Paid on Secondary Security Purchased (T-Bond) 947,967,177 654,612,046
1,655,484,863 1,720,443,552

22.02 Gain on Termination of Right of Use of Assets [as per IFRS 16]
Lease contract with Silver Tower terminated regarding Gulshan Branch Premises wherein Interest Expense and Depreciation of that premises is greater
than monthly rental payment till to termination:

Total Interest Charge till to Termination of Lease Contract 6,908,062 -

Total Depreciation Charge to Termination of Lease Contract 26,025,357 -
32,933,419 -
Less: Monthly Rental Payment 31,413,345 -
Gain 1,520,074 -

This gain from IFRS -16 has no impact on Corporate Tax Calculation

22a Consolidated Investment income

NRBC Bank Limited 3,521,190,244 3,586,648,824
NRBC Bank Securities Limited 80,954,109 8,552,654
3,602,144,352 3,595,201,478
Less: Inter company transaction - -
3,602,144,352 3,595,201,478

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23 Commission, Exchange and Brokerage
Conventional and Islamic banking
Commission on Letter of Credit including BTB Letter of Credit 173,463,021 119,068,984
Commission on Bank Guarantee 403,609,623 262,332,826
Commission on Export Bills 6,270,309 6,308,736
Commission on Accepted Bill including BTB Letter of Credit 92,258,375 77,165,989
Commission on Clean (FBP/IBP Purchased) Bill 1,950,385 1,271,528
Commission on Remittance including Foreign Remittance 37,418,325 24,567,641
Commission on Sale of FC Cash 102,834 54,798
Commission from Other Services 31,485 130,168
Underwriting Commission for selling of Govt. Securities 22,012,885 3,484,462
Commission/Charge on Agent Banking Service 239,140 156,900
Exchange gain for Trading of Foreign Currency through Export, Import, dealing, remittance (Net) 155,747,265 247,756,261
893,103,649 742,298,294

Commission income arises on service provided by the bank recognized on a cash basis. Commission charged the Customer on Letter of Credit and letter of
Guarantee are credited to income at the time of effecting the transaction.

23a Consolidated Commission, Exchange and Brokerage

Conventional and Islamic banking
NRBC Bank Limited 893,103,649 742,298,294
NRBC Bank Securities Limited 239,255,373 45,607,761
1,132,359,022 787,906,055
Less: Inter company transaction 16,725,890 2,944,090
1,115,633,132 784,961,966
24 Other Operating Income
Conventional and Islamic banking
Service Charges and Fees 153,854,939 93,439,514
Locker Rental Income 756,250 614,500
Online Transaction Commission 9,555,128 4,291,653
Income from Card Services 21,937,412 19,475,841
Recoveries-Postage Charge 53,940 -
Trade Finance Fees & Charges 113,064,970 116,653,671
Miscellaneous Earnings 48,850,416 39,607,871
348,073,055 274,083,049
Trade Finance Charges: Offshore Bankin Unit (OBU) 1,349,757 -
349,422,812 274,083,049

24a Consolidated Other Operating Income

NRBC Bank Limited 349,422,812 274,083,049
NRBC Bank Securities Limited 358,044 250,297
349,780,855 274,333,346
Less: Inter company transaction 4,600 3,450
349,776,255 274,329,896
25 Salaries and Allowances
Basic Salary 714,215,527 536,452,071
Festival Bonus 94,186,520 82,686,920
Incentive (Recovery/Campaign) Bonus 143,909,188 120,191,878
Leave Encashment/Retirement/Service benefit on Resignation from bank 22,073,752 18,044,062
Bank Contribution To Recognized NRBC Employees' Provident Fund 46,324,531 40,504,612
House Furnishing Cost/Furniture Allowance & Leave Fare Assistance 90,467,142 -
Bank Contributed to Recognized NRBC Employees' Gratuity Fund Payment/Expense 20,000,000 12,500,000
Contractual Staff Salary 13,970,093 10,359,422
Salary of Security and support Staff 215,454,403 155,021,882
Exgratia/Bonus of Security and support Staff 53,069,431 22,127,780
Special COVID-19 Duty Allowance during Holiday - - 23,335,098
Death/Health Hazard Compensation 548,846 -
Uniform and Leverage of Security and Cleaning Staff 319,411 195,958
Employees Allowances and Benefits 672,510,032 647,359,846
2,087,048,876 1,668,779,529

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25a Consolidated Salaries and Allowances
NRBC Bank Limited 2,087,048,876 1,668,779,529
NRBC Bank Securities Limited 48,924,204 28,114,851
2,135,973,080 1,696,894,380
Less: Inter company transaction - -
2,135,973,080 1,696,894,380

26 Rent, Taxes, Insurance, Electricity, etc.

Office and Garage Rent (Note: 26.1) 171,026,966 172,826,927
Rates, Taxes and Duties (Note: 26.2) 8,037,683 4,123,360
Insurance Expenses including DMB Insurance to BB (Note: 26.3) 53,203,180 44,933,345
Electricity and Utility Expenses (WASA/Water Supply by Div./Purasuva) with VAT 75,331,469 53,639,776
307,599,297 275,523,408

26.1 Office and Garage Rent

Office Rent -Branch & HO [Note: 26.1.1] 101,924,285 141,016,594
Office Rent -Sub-Branch 34,952,863 14,778,383
Office Rent -ATM Booth 9,480,351 1,577,347
Office Rent - Godown/Store Room 434,700 60,490
Interest portion on lease liabilities [Instead of Rental Expense] [Note: 26.1.2] 24,234,766 15,394,113
171,026,966 172,826,927

26.1.1 Office Rent -Branch & HO [Rental Expense as per contract with Lessors] 276,669,324 233,464,690

26.1.2 Total rent expenses for the year 2021 was Tk. 275,927,580.00 as per IAS 17. According to “IFRS 16: Lease” this rent expense has been adjusted with
depreciation Tk.144,437,689.80 arises against right-of-use assets (ref: Annex A) and interest expenses Tk.24,234,766.17 arises against lease liabilities.
26.2 Rates, Taxes and Duties
Trade/Gun License and Patent Right Tax 1,532,517 1,605,410
Holding, Municipality, Sign Board Tax 914,315 638,256
Vehicle Registration, Tax token, Fitness, etc. 179,363 187,461
Toll and Parking Tax/Charge 997,726 569,759
Excise/Supplementary Duty 1,793,517 853,120
NBR Fees & Charge (Tax and VAT) 1,100 1,000
Garage Rent for Car Parking 220,740 201,300
Other Rates and Taxes 2,398,405 67,054
8,037,683 4,123,360

26.3 Insurance Expenses including DMB Insurance to BB

Deposit Money Insurance to Bangladesh Bank* 47,270,117 39,193,917
Insurance Premium for Cash, Counter and Transit (Under Central Insurance Scheme) 4,101,176 4,139,237
Insurance Premium for Vehicle 199,402 365,110
Insurance Premium for Fixed Assets 1,632,484 1,233,987
Insurance Premium for others - 1,095
53,203,180 44,933,345

*Deposit Money Insurance Premium was paid to Bangladesh Bank as per DOS circular letter no 1 dated 10 January 2007 and Circular no. DID-02/2012
dated 02 October 2012 in exchange of coverage of deposits up to certain threshold in case the bank goes bankrupt.

26a Consolidated Rent, Taxes, Insurance, Electricity, etc.

NRBC Bank Limited 307,599,297 275,523,408
NRBC Bank Securities Limited 3,563,012 2,282,081
311,162,309 277,805,490
Less: Inter company transaction - -
311,162,309 277,805,490

27 Legal, Regulatory Fees and Documentation Expense

Consultancy/Professional Fees and Charges 9,702,473 7,622,535
Lawyer Fees and Charge 227,600 656,588
Power of Attorney/Court Fees with Stamp Charge 97,150 99,500
Annual /Listing Fees to Stock Exchange (DSE/CSE) 22,453,776 -
Notary Public Charge and Government Fees 3,400 300
DSE/CSE and CDBL Fees and Charges 1,865,136 122,000
RJSC & BSEC Fees and Charges (VAT Included) 4,011,362 4,861,338
38,360,897 13,362,261

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27a Consolidated Legal, Regulatory Fees and Documentation Expense
NRBC Bank Limited 38,360,897 13,362,261
NRBC Bank Securities Limited 249,475 123,935
38,610,372 13,486,196
Less: Inter company transaction - -
38,610,372 13,486,196
28 Postage, Stamps, Telecommunication, etc
Stamps and Cartridge Paper Expense 703,583 146,000
Govt. Postal/Registered Postal Service Charge 115,443 104,708
Courier Charges 8,078,195 4,797,042
Telephone and Mobile Expenses 5,550,835 8,011,296
Internet & WIFI Expense and WAN(Link) Connection Charges 35,722,922 20,976,646
50,170,978 34,035,691

28a Consolidated Postage, Stamps, Telecommunication, etc

NRBC Bank Limited 50,170,978 34,035,691
NRBC Bank Securities Limited 1,210,301 955,045
51,381,279 34,990,736
Less: Inter company transaction - -
51,381,279 34,990,736
29 Stationery, Printing, Advertisement, etc
Stationary and Printing Expenses [Note:29.01] 70,390,758 44,066,755
Advertisement and Sponsorship Expense [Note:29.02] 25,911,552 18,111,199
Computer Expenses including Toner, Ribbon, Other Computer Expenses [Note:29.03] 240,834,617 142,940,889
337,136,927 205,118,843
29.1 Stationery and Printing Expenses
Packaging/Printing (Expense) 13,746,478 9,754,796
Security Papers/ Stationery (Expense) 18,956,797 15,492,601
Office Stationery (Expense) 32,290,194 17,265,207
Crockeries and Utensils Expense 3,763,400 676,931
Electric Bulbs/Tube and Wire Expense 1,633,889 877,221
70,390,758 44,066,755

29.2 Advertisement and Sponsorship Expense

Advertisement in News Papers and Magazine Expense 6,437,567 7,049,427
Advertisement for mourn/Death (VAT Exempted) in News Paper Expense 425,097 29,564
Advertisement in Radio, Television and Online Media 14,567,718 5,353,250
Advertisement In Newspapers, Radio and Television Through Media Agent 174,754 -
Souvenir/Calendar/Dairy(Printing Exp.) 1,485,560 2,607,500
Sponsorship of Program, event and Sports 2,820,856 3,071,458
25,911,552 18,111,199
29.3 Computer and Software related Expense
Toner, Ribon, Printer Ink Expenses 10,892,287 8,801,323
CBS Annual Maintenance Cost/Expense 6,131,404 17,592,499
Software (Other) Maintenance Cost/Expense 10,333,037 6,705,789
DC and DRC Maintenance Expense 1,000,000 3,000,000
IT Enable Expenses 200,577,889 106,841,278
240,834,617 142,940,889
29a Consolidated Stationery, Printing, Advertisement, etc
NRBC Bank Limited 337,136,927 205,118,843
NRBC Bank Securities Limited 814,117 377,063
337,951,044 205,495,906
Less: Inter company transaction - -
337,951,044 205,495,906

30 Chief Executive's salary and fees

Basic Salary 5,951,612 5,897,097
Festival Bonus 1,000,000 1,000,000
Allowances 5,197,847 4,548,606
12,149,459 11,445,703

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31 Directors' Fees & Meeting Expenses
Director's Meeting Attendance Fees 2,745,600 1,535,660
Directors' Haulage and Travel (BB Circular) 6,937,973 12,351,847
Directors Meeting Stationery Expense 83,808 58,803
Board Meeting Expenses including refreshment and Tips to the Drivers 720,947 682,135
10,488,328 14,628,445

Each Director is entitled to get [email protected] & travelling expenses at actual for attending meeting of the board of directors as per BRPD Circular
Letter #11 dated October 04, 2015. There were no other financial benefits provided to the Directors of the Bank.

31a Consolidated Directors' Fees & Meeting Expenses

NRBC Bank Limited 10,488,328 14,628,445
NRBC Bank Securities Limited 153,873 186,889
10,642,201 14,815,334
Less: Inter company transaction - -
10,642,201 14,815,334

32 Auditors' Fees
Statutory 805,000 862,500
Others [Note:32.01] 253,250 -
1,058,250 862,500

32.1 Auditors' Fees-Others

Bank Credit Rating Fees 161,250 -
Corporate Governance Auditor Fess 92,000 -
253,250 -

32a Consolidated Auditors' Fees

NRBC Bank Limited 1,058,250 862,500
NRBC Bank Securities Limited 69,000 57,500
1,127,250 920,000
33 Charges on Loan Losses
Loan-written off - -
Interest waived - -
- -

34 Depreciation and Repairs of Bank's Assets

Conventional and Islamic banking
Purchased of Spares parts/Accessories for Replacement of Banks Assets (a):
Items purchased for Replacement of Land, Building and Construction 55,926 66,975
Items/Accessories purchased (Replacement) for Furniture and Fixtures 7,122,891 11,204,423
Parts purchased (Replacement) for office Equipment 10,445,225 8,215,939
Items/Accessories purchased (Replacement) for Rented Premises 869,620 1,232,606
Electricity Connection Fee, Installation & Replacement 10,301,920 5,231,132
Telephone Connection Fee, Installation & Replacement 29,756 122,923
Domain/Internet Connection Fee & Installment 1,500 2,700
Parts/Accessories purchased (Replacement) for Computer and Computer Equipment 3,868,265 1,239,406
Parts/Accessories purchased (Replacement) for Vehicles 7,044,472 4,669,547
Spare Parts purchased(Replacement) for of Machinery and Plant 5,476,662 -
Parts purchased (Replacement) for Premises 1,352 7,867
Parts purchased (Replacement) Utility (Electricity/Internet/Telephone) Connection 9,862,695 -
55,080,284 31,993,517

Repair, Renovation & Maintenance of Bank's Assets (b):

Repair and Maintenance for Furniture and Fixtures 339,032 309,389
Repair and Maintenance for Office Equipment 3,235,122 2,419,598
Repair and Maintenance for Rented Premises 321,720 255,523
Repair and Servicing of Computer and Computer Equipment 199,665 182,713
Repair and Servicing of Vehicles 1,207,586 744,707
Repair and Maintenance for Premises 15,059 -
Repair and Maintenance for Machinery and Plant 313,672 -
Repair and Maintenance for Utility (Electricity/Internet/Telephone) Connection 124,553 -
5,756,409 3,911,930

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Depreciation of Bank's Assets-Own Assets (c) *:
Land, Building and Construction - -
Furniture & Fixtures 76,725,779 49,675,515
Machinery and Plants 24,870,552 23,166,413
Office Equipments 35,453,591 27,521,226
Computer and Computer Equipment 31,134,097 24,389,616
Intangible Assets/Bangladesh Made Computer Software 18,138,409 24,737,019
Vehicle-Office Use 920,000 920,000
Vehicles-Transport 3,000,000 4,110,829
Professionals and Reference Books - -
190,242,428 154,520,619
Depreciation of Bank's Assets-Leased Assets (d):
Land, Building and Construction - -
Furniture & Fixtures - -
Equipment and Machinery - -
Motor Vehicle - -
- -

Depreciation of Bank's Assets-Right of Use Assets (e):

Office space 144,437,690 76,971,592
144,437,690 76,971,592

Total Depreciation [c+d+e] 334,680,118 231,492,211

*Depreciation has been charged from the month of purchased

Total [a+b+c+d+e] 395,516,811 267,397,658

34a Consolidated Depreciation and Repairs

NRBC Bank Limited 395,516,811 267,397,658
NRBC Bank Securities Limited 2,433,033 2,033,232
397,949,845 269,430,890
Less: Inter company transaction - -
397,949,845 269,430,890

35 Other Expenses
Bank Charges (Note: 35.1) 8,272,371 5,854,554
Donation and Corporate Social Responsibility (CSR) 54,163,822 44,222,096
Car, Vehicles and helicopters Expenses (Note: 35.2) 36,275,900 20,450,429
Commission, Charge and Discount paid to Bank/FIs (Note: 35.3) 8,179,003 1,472,796
Training & Study, Allowance & Internship and Rewards (Note: 35.4) 4,963,133 1,680,944
Annual Subscription/Membership Fees-Regulatory/Govt./Institutions/Others 5,143,947 9,321,898
Entertainment and Refreshment Expenses (Note: 35.5) 11,433,855 7,340,340
Travelling Expenses (Inland & Foreign) for official purpose (Note: 35.6) 9,213,391 5,970,885
Conveyance, Labor, Carriage and Freight Expense (Note: 35.7) 15,766,984 8,519,508
Business Development/Promotion Expense (Note: 35.8) 9,923,926 10,825,025
First Aid/Medical Expenses 76,719 141,072
Newspaper, Magazine and Periodicals 428,613 486,383
Manpower/Security Service Providers Commission & Charge (Note: 35.9) 77,869,864 54,793,380
Loss on sale of Secondary Govt. Trading Securities 20,944,229 39,393,392
Card Division Fees, Charges and Expenses (Note: 35.10) 232,818 282,385
Agent Banking Charge and Expenses 8,767,718 4,738,733
Miscellaneous Expenses (Note: 35.11) 37,349,091 36,623,383
Loss on HFT (Rev) Treasury Bills - 73,382
Loss on HTM (Amtz) Govt. Securities 37,594,141
Loss on HFT (Rev) Treasury Bonds 456,617,058 488,714,919
803,170,883 740,905,503

35.1 Bank Charges

Clearing Cheque Charge (VAT Incl.) 385,910 241,945
Online/SMS Banking Charge (VAT Incl.) 4,606,335 3,426,158
Bank Charge incl. A/c Maintain./Cheq. Issue (VAT Incl.) 3,280,125 2,186,451
8,272,371 5,854,554

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35.2 Car, Vehicles and helicopters Expenses
Car or Vehicles Fuel (Oil/Gas/LPG) Cost * 12,434,369 8,194,631
Car or Vehicles Hiring Charge 23,841,531 12,255,798
36,275,900 20,450,429

* VAT exempted as per SRO -149/AIN/2020/100 dated June 11, 2020 and SRO-240-AIN/2021/163 Mushok Dated June 29, 2021

35.3 Commission, Charge and Discount paid to Bank/FIs

Brokerage Commission/Fees - Share Trading (VAT Exempted) 8,133,305 1,472,796
8,179,003 1,472,796

Stock & Security Broker Charge/commission (Code-077) is Vat Exempted as per third Schedule of VAT Act, 2012

35.4 Training, Scholarship and Allowance

Training and Seminar Fees & Expenses (Note 35.4.1) 138,248 523,450
Recruitment Test/Fees/Allowance 3,986,772 112,960
Honorarium/Trainer Fees/Allowance 762,420 332,610
Scholarship and Higher Study Training - 214,250
Research and Development Exp./Allowance 840 30,200
Internship Allowances to Universities Graduate 20,000 252,474
Stipend, Reward and Recognition 1,800 215,000
Employee Refresher Program (Tournament/Competition event, etc.) 53,053 -
4,963,133 1,680,944

35.4.1 Training and Seminar Fees & Expenses

Domestic Training & Seminar Fees 134,405 104,075
Other Training Arranging Fees & Expenses - 394,432
Seminar and Awareness Program Expense by BB/Regulators 3,843 24,943
138,248 523,450

35.5 Entertainment and Refreshment Expenses

Process Food Items Through Mushak-11 (M-6.3) or VAT Paid 4,205,406 2,858,230
Food Items from Street or open Market 6,020,559 3,845,230
Green Food Item from open Market 1,207,890 636,880
11,433,855 7,340,340

35.6 Travelling Expenses (Inland & Foreign) for official purpose

Foreign Travel -Bank Sponsored 212,680 323,729
Foreign Travel -Government Sponsored* 1,520,105 -
Inland or Domestic Travel by Staff 7,480,606 5,647,156
9,213,391 5,970,885

*Section 30(K) of Income tax Ordinance, 1984, Foreign Travel engaged in providing any service to the Government or Travel for Trade delegates of Govt.
will not be considered for limited of expense i.e. 1.25% of yearly Turnover.

35.7 Conveyance, Carriage, Freight and Worker Charge

Local Conveyance by Staff 13,911,263 8,091,378

Plumber, Electrician and labor Charge 1,791,871 400,738
Physically Carriage and Freight Charge 63,850 27,392
15,766,984 8,519,508

35.8 Business Development/Promotion Expense

Goods/Gift items for Prospective Clients 6,598,876 3,888,861
Gift (Prize Bond) for clients 274,100 368,500
Event Management for Business Development Purpose 2,148,333 5,517,058
Customer Gathering Expense 496,571 562,633
Actor/Actress/Professional payment in Bank Occasion 7,777 288,075
Display/distribution of Leaflet/Banner/Festoon 281,711 -
Promotional Fair by Bank or Govt. Invitation 116,558 199,899
9,923,926 10,825,025

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 2021 2020
Taka Taka
35.9 Manpower/Security Service Providers Commission & Charge
Security Service Providers Commission & Charge 52,093,542 37,111,460
Manpower Service Providers Commission & Charge 25,776,322 17,681,920
77,869,864 54,793,380

35.10 Card Charges and Expenses

Card Contract Point Verification 232,818 282,385
232,818 282,385

35.11 Miscellaneous Expenses

Laundry and Cleaning Exp. (Note : 35.11.1) 3,406,092 2,413,179
Binding, Photograph and Photocopy 671,116 466,283
Cash Carrying/Remitting Charge to Security Service Provider 6,030,741 5,891,550
Nursery and Plantation Cost/Exp. 534,577 581,049
COVID-19 (Coronavirus) Related Expenses* 4,473,350 19,718,457
Discomfort/Closing/Saturday Banking Expense 5,824,122 2,192,625
Conference/Shareholders Meeting/Programs/Opening Ceremony Expense 14,734,117 4,462,353
NID Verification Charge to Bangladesh Election Commission (Incl. VAT) 1,674,976 897,888
37,349,091 36,623,383

* COVID -19 related expenses are VAT exempted as per SRO -92/AIN/2020/69/custom Dated March 22, 2020.

35.11.1 Laundry and Cleaning Expenses

Manual Laundry and Cleaning Expense 3,333,851 2,360,523
Auto Laundry and Cleaning Expense 72,241 52,656
3,406,092 2,413,179

35a Consolidated Other Expenses

NRBC Bank Limited 803,170,883 740,905,503
NRBC Bank Securities Limited 39,727,348 6,387,976
842,898,231 747,293,479
Less: Inter company transaction 16,730,490 2,947,540
826,167,740 744,345,939

36 Provision against loans and advances

i. Provision against unclassified loans and advances
Provision for Unclassified/Standard Loans and Advances 51,757,785 145,593,148
Special General Provision-COVID-19 131,938,933 284,637,268
Provision for SMA Loans and Advances (180,049,792) 410,898,437
3,646,926 841,128,853
ii. Provision against classified loans and advances
Provision for Sub-Standard Loans and Advances 243,697,300 (58,481,942)
Provision for Doubtful Loans and Advances (22,672,774) 3,449,731
Provision for Bad & Loss of Loans and Advances 480,687,233 310,348,851
701,711,760 255,316,640
705,358,686 1,096,445,493

36a Consolidated provision against loans and advances

NRBC Bank Limited 705,358,686 1,096,445,493
NRBC Bank Securities Limited 19,845,628 -
725,204,313 1,096,445,493

37 Provision for Diminution in Value of Investments

Provision for diminution of Shares list with DSE/CSE 117,514,614 (137,115,867)
Provision For Investment Bond and Securities Unquoted 37,475,580 -
154,990,194 (137,115,867)

* According to DOS Circular 01, Dated February 10, 2020, NRB Commercial Bank Limited maintained another BO # 1205950072055133 at NRBC Bank
Securities Limited under scheme of special Fund and Investment to be made as per clause 2 of the said circular.

** As per Clause cha (2)(i) of DOS Circular 01, Dated February 10, 2020, All kind revaluation will be suspended till February 2025 resulting no provision
have to be provided of the aforesaid period and Financial Statement will be finalized on cost basis.

238
 2021 2020
Taka Taka
37a Consolidated Provision for Diminution in Value of Investments
NRBC Bank Limited 154,990,194 (137,115,867)
NRBC Bank Securities Limited 5,236,214 (19,884,550)
160,226,408 (157,000,417)

38 Provision for Off-Balance Sheet Exposures

Conventional and Islamic banking 191,692,476 68,936,251
191,692,476 68,936,251

Basis of Calculation of Provision for Off-Balance Sheet Exposures has been given in the Note No. 13.3.1

38a Provision for Off-Balance Sheet Exposures

NRBC Bank Limited 191,692,476 68,936,251
NRBC Bank Securities Limited - -
191,692,476 68,936,251

39 Current Tax Expense /Payable

2021 2020
SL Particulars
Taka Taka
1 Taxable Income 2,957,174,370 2,125,955,134
2 Current Tax Payable @37.5% before considering extra ordinary items 1,108,940,389 797,233,175
3 Less: 10% Tax exemption/rebate on actual expenditure of CSR [SRO 229/2011] (1,974,382) (4,422,210)
4 Add: Tax @0% Gain on Sale of Approved Securities under section Tax U/S 32 (7) -
5 Add: Dividend Income Tax [20% Tax as per Paripatra 2020-21] 18,060,256 7,277,630
6 Add:Tax on Winning of Govt Prize Bond U/S 55 with Final Tax liability under section 82C 2,000
7 Add: Tax@0% on Gain on sale of Assets [U/S 32(5B) & Poripatra 2019: New Assets
Purcahsed is more than Gain] -
8 Add: Gain on Sale of Shares and Debentures [10% Tax as per SRO no.196/2015] 44,753,700 -
9 Current Tax Payable after considering extra ordinary items 1,169,781,963 800,088,595
10 Deferred Tax Liability for the period (251,305,742) (103,189,380)
11 Tax Expense for the Period 918,476,220 696,899,215

39a Consolidated Current Tax Expense

NRBC Bank Limited 918,476,220 696,899,215
NRBC Bank Securities Limited 79,607,651 10,625,999
998,083,871 707,525,214
39b Consolidated Current Tax Payable
NRBC Bank Limited 1,169,781,963 800,088,595
NRBC Bank Securities Limited 79,579,822 10,838,344
1,249,361,784 810,926,939

40 Deferred Tax (Income)/Expense Carrying Amt Tax Base Temporary Difference

Fixed Assets other than ROU 1,309,683,278 1,402,574,180 (92,890,902) (124,454,015)
Total Taxable deductible Difference at Asset side (92,890,902) (124,454,015)
Provision for Classified Loan 1,803,943,529 - (1,803,943,529) (1,102,231,770)
Total Deductible Temporary Difference at Liability side (1,803,943,529) (1,102,231,770)

Net Taxable deductible Temporary Difference [i.e. Tax will be paid in future period] (1,896,834,431) (1,226,685,785)
Tax Rate @37.50% i.e deferred Tax Liability (711,312,912) (460,007,169)
Less : Deferred Tax Income as at 31.12.2020 (460,007,169) (356,817,789)
Deferred Tax Income for the year (251,305,742) (103,189,380)

40a Consolidated Deferred Tax (Income)/ Expense

NRBC Bank Limited (251,305,742) (103,189,380)
NRBC Bank Securities Limited 27,829 (212,345)
(251,277,913) (103,401,725)

41 Earnings Per Share (EPS)

Profit after Taxation 2,083,944,071 1,342,830,010
Number of Ordinary Shares outstanding 737,642,848 582,516,998
Earnings Per Share 2.825 2.305

239
 2021 2020
Taka Taka
41.1 Restated Earnings Per Share (EPS)
Profit after Taxation 2,083,944,071 1,342,830,010
Number of Ordinary Shares outstanding 737,642,848 737,642,848
Earnings Per Share 2.825 1.820

41a Consolidated Earnings Per Share (EPS)

Net Profit attributable to the shareholders of parent company 2,263,536,952 1,380,363,963
Number of Ordinary Shares outstanding 737,642,848 582,516,998
Earnings Per Share 3.069 2.370

41.1a Restated Consolidated Earnings Per Share (EPS)

Net Profit attributable to the shareholders of parent company 2,263,536,952 1,380,363,963
Number of Ordinary Shares outstanding 737,642,848 737,642,848
Earnings Per Share* 3.069 1.871

*Earnings Per Share (EPS) has been Calculated by dividing the basic earnings with the number of ordinary shares outstanding as of December 31, 2021
in terms of International Accounting Standard (IAS)-33

42 Receipts from Other Operating Activities

Interest on Treasury Bill - 42,256,954
Interest on Money at call 10,004,455 45,892,939
Interest on Treasury Bond 1,624,233,733 1,495,213,828
Interest on Coupon Bond (Other than Govt.) 170,406,577 170,961,504
Gain on Sale of Shares and Securities listed with DSE/CSE 447,536,999 -
Gain on Sale of Bonus Shares listed with DSE/CSE 78 -
Gain on Sale of Assets, Properties and Others 4,249,986 -
Income from Govt. Islamic Bond 201,462 -
Income/Profit from Govt. Sukuk Bonds 17,350,390 -
Interest on Reverse Repo - 32,466
Gain on Sale of Approve Securities 1,109,680,250 1,577,316,736
Prize Money from Winning of Prize Bond 10,000 10,000
Service Charges and Fees 153,854,939 93,439,514
Locker Rental Income 756,250 614,500
Online Transaction Commission 9,555,128 4,291,653
Recoveries-Postage 53,940 -
Income from Card Services 21,937,412 19,475,841
Charges on Trade Finance 113,064,970 116,653,671
Miscellaneous Earnings 48,850,416 39,607,871
3,731,746,984 3,605,767,475
Offshore Banking Unit(OBU) 1,349,757 -
3,733,096,741 3,605,767,475

42a Consolidated Receipts from Other Operating Activities

NRBC Bank Limited 3,733,096,741 3,605,767,475
NRBC Bank Securities Limited 70,291,063 1,098,004
3,803,387,804 3,606,865,479

43 Payments for Other Operating Activities

Rent, Taxes, Insurance, Electricity, etc 412,931,493 331,449,837
Legal, Regulatory Fees and Documentation Expense 38,360,897 13,362,261
Audit Fees 885,750.00 805,000
Postage, Stamps, Telecommunication, etc 54,184,218 35,464,636
Directors' fees & Meeting Expenses 10,488,328 14,628,445
Purchased for Replacement/Spares parts /Accessories of Banks Assets 55,080,284 31,993,517
Repair & Maintenance of Bank's Assets 5,756,409 3,911,930
Payment for Donation and CSR 67,575,772 44,222,096
Other Expenses 746,695,561 696,705,507
1,391,958,712 1,172,543,230
43a Consolidated Payments for Other Operating Activities
NRBC Bank Limited 1,391,958,712 1,172,543,230
NRBC Bank Securities Limited 40,634,831 6,892,668
1,432,593,542 1,179,435,898
Cash Increase/(Decrease) through Intercompany Transaction - -
1,432,593,542 1,179,435,898

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 2021 2020
Taka Taka
44 Payment/(Settled/Received) for Other Assets
Advance Security Deposit 1,617,001 397,522
Suspense Account 75,139,147 18,621,515
Advance Office Rent 19,993,749 (57,746,186)
Advance Rent for Initial Payment of Right of Use Assets 79,896,040 40,262,600
Inter Branch General Account Balance (Dr Balance) 103,838,290 (2,895,338)
Interest Receivable-COVID Block Account (626,127,706) 627,397,978
EKYC Settlement A/c 218 -
(345,643,262) 626,038,090

44a Consolidated Payment/(Settled) for Other Assets

NRBC Bank Limited (345,643,262) 626,038,090
NRBC Bank Securities Limited 114,412,546 35,744,741
(231,230,716) 661,782,831
Cash Increase/(Decrease) through Intercompany Transaction - -
(231,230,716) 661,782,831

45 (Payment)/Received of Other Liabilities

FC Held Against BTB Bills, EDF Loan and Others 83,261,576 1,054,204,621
OBUs Account with Intl Div-HO-USD 2,035,304 -
BACH Clearing Settlement 2,100 -
Inter Branch General Account Balance (Cr Balance) (347,157) 347,157
Settlement of Current Tax Liability - (479,475,034)
Received against service of Card Business (Accrued income) 1,789,214 1,961,560
Settlement / Parking GL Account 26,982 -
Unearned Income [Islamic Banking] 21,416,093 5,374,598
Unearned Income-Local Documentary Bill Purchase - 1,400,201
Compensation Account (Islamic) 119,532 76,037
108,303,645 583,889,140

45.a Consolidated (Payment)/Received of Other Liabilities

NRBC Bank Limited 108,303,645 583,889,140
NRBC Bank Securities Limited - -
108,303,645 583,889,140
Cash Increase/(Decrease) through Intercompany Transaction - -
108,303,645 583,889,140

46 (Purchase)/Sale of Government Securities

Treasury Bills and Bonds-HFT 7,114,578,869 (7,403,627,715)
Treasury Bills and Bonds-HTM (6,035,746,781) (4,022,177,912)
Less: Increase/(Decrease) of Rev Gain on Treasury Bills which is non cash (725,137,428) 805,620,757
353,694,660 (10,620,184,870)

47 Currency Conversion Rates

Assets and Liabilities as at 31 December 2021 denominated in foreign currencies have been converted to local currency Bangladesh Taka (BDT) at
the following exchange rates:

Currency Abbreviation Unit Equivalent BDT

US Dollar USD 1 85.8000
ACU Dollar ACU 1 85.8000
Japanese Yen JPY 1 0.7463
EURO EURO 1 97.3658
Chinese Yuan CNY 1 13.4616
GBP GBP 1 115.7099

241
48. Highlights of overall activities of the Bank

30-Dec-21 30-Dec-20
Sl Particulars
Taka Taka
1 Paid-up Capital 7,376,428,479 5,825,169,980
2 Total Capital 16,335,649,771 10,472,929,470
3 Capital Surplus 1,133,969,614 16,525,019
4 Shareholders' Equity/Capital 12,049,863,545 9,879,236,445
5 Total Assets 154,437,406,715 116,643,265,670
6 Total Deposits 114,947,262,637 90,074,305,616
7 Total Loans and Advances 105,490,584,892 74,887,425,182
8 Total Contingent Liabilities and Commitments 53,600,415,599 35,446,633,626
9 Credit-Deposit Ratio [Solo Basis] 86.82% 78.66%
10 Ratio of Classified Loans against Total Loans and Advances 4.56% 2.93%
11 Profit after Tax and Provisions 2,283,491,716 1,384,534,401
12 Loans Classified 4,767,333,799 2,191,079,376
13 Provision kept against Classified Loans 1,803,943,529 1,102,231,770
14 Provision Surplus/(deficit) - -
15 Cost of Fund 7.56% 9.69%
16 Interest Earning Assets 137,528,091,040 104,117,819,872
17 Non-interest Earning Assets 16,909,315,674 12,525,445,798
18 Net Interest Income (NIM) 3,414,259,624 1,715,578,178
19 Return on Investments (ROI) 20.83% 15.28%
20 Return on Assets (ROA) 1.68% 1.34%
21 Income from Investments 3,521,190,244 3,586,648,824
22 Earnings Per Share 3.0686 2.37
23 Net Income Per Share 3.0957 2.38
24 Net Assets Value 16.25 16.96
25 Price-Earnings Ratio (Times) 13.38 N/A

49. Events after Reporting Period

I. NRBC Bank has got Custodian License [Registration Certificte No 14/2021 on 24 October, 2021 from Bangladesh Securities Exchange
Commission (BSEC) to act as Custodian Bank after accord by The Board of Directors in its 114th Meeting held on February 15, 2021. Under this
window, Bank will provide the settlement, safekeeping and reporting of customers' marketable securities and cash for customers specially
Foreigner as directed by them. New Custodian service will be started before authorized to issue the Audited Financial Statements by Board for
fee based income.
ii NRBC Bank formed another Subsidiary Company M/s. Assets Management Limited having Incorpoation (Registered) No C-176879/2021 Dated
December 07, 2021 followed on Board of Directors deceided the same in its 121st Meeting held on May 20, 2021. Proposed Company authorized
capital Tk. 2,000.00 Million and Paid up capital Tk.1,000.00 Million. Remaining formalities for getting license of "Alternative Investment License"
from Bangladesh Securities Exchange Commission (BSEC) is underway for manage Mutual Fund or Investors Fund either company own discretionery
or investors discretionery. Opeartion may be started before authorized to issue the Audited Financial Statements by Board for fee based income.
iii As of December 31, 2021, NRB Commercial Bank Limited (NRBC Bank) hold 90% equity shareholding of NRBC Bank Securities limited since
inception of its operation. According to direction of Bangladesh Bank vide their ref # BRPD/(AR-1)/717/2021-2745 dated March 01, 2021 and,
subsequently, Board of Director of NRBC Bank in its 134th meeting held on February 01, 2022 decided to purchase remaining shareholdings
except 1 (one) that vested to Ex. Officio Managing Director & CEO. In pursuant of acquisition of remaining shareholdings from Minority Group,
BoD was also appointed well known Valuation entity M/s. MABS & J Partners, Chartered Accountants for fixation/recommendation of
consideration for completion the process. M/s. MABS & J Partners, Chartered Accountants served their report vide their letter # N-1416/MABS
& J (B)/2021-22/2654 on January 30, 2022 with recommendation of Tk.20.00 per Share [adopting weighted average method of Net Asset Value
Method, Future Maintainable Profit (Market Relative) and Discount Cash Flow Method] and BoD fixed the price @Tk.20 per share. Accordingly,
Acquisition process is under way of the both financial and regulatory while Audited Financial Statements are authorized to issue.
iv The Board of Directors of NRB Commercial Bank Limited in its 138th Board Meeting held on April 13, 2022 recommended @15% comprising
7.5%% Cash Dividend and 7.5% Stock Dividend for the year end December 31, 2021. Eligible shareholders (who holds NRBC shares on the record
date i. e. May 11, 2022) will be entitled to get this dividend subject to shareholders' approval in 9th AGM will be held on June 02, 2022. The
amount of recommended dividend is Tk. 11,064.64 lakh

Aforesaid disclosed issues have no effect that occurred after the reporting period which could affect the values stated in the financial
statements.

242
 NRB Commercial Bank Limited
As of 31 December 2021

Annexure-A
A. Currency wise balance position of FC Clearing Accounts With Bangladesh Bank
As at 31 December 2021 As at 31 December 2020
Currency
SL Name of the Account Location Foreign Currency Conversion Equivalent Amount Foreign Currency Conversion Equivalent Amount
Types
Amount Rate in Taka Amount Rate in Taka
1 Bangladesh Bank FC Clearing Dhaka USD 5,018,280 85.8000 430,568,443 4,484,410 84.8000 380,277,936
2 Bangladesh Bank FC Clearing Dhaka Euro 257,285 97.3658 25,050,712 3,620 103.5747 374,983
3 Bangladesh Bank FC Clearing Dhaka GBP 702 115.7099 81,240 - - -
Total 5,276,267 455,700,395 4,488,030 380,652,919

B. Reconciliation between Bangladesh Bank statement and Bank’s book

B-1 Foreign Currency As per Bangladesh Bank Statement As Per Bank's General ledger Reconciling Difference
USD USD BDT USD

USD -Clearing Account 5,657,539 5,018,280 430,568,443 639,258

5,657,539 5,018,280 430,568,443 639,258

Bank credited but not debited by Bangladesh Bank 405,678

Bank debited but not credited by Bangladesh Bank -
Bangladesh Bank credited but not debited by Bank 233,580
Bangladesh Bank debited but not credited by Bank -
639,258

B-2 Foreign Currency As per Bangladesh Bank Statement As Per Bank's General ledger Reconciling Difference
EUR EUR BDT EUR

EUR -Clearing Account 257,285 257,285 25,050,712 -

257,285 257,285 25,050,712 -

Bank credited but not debited by Bangladesh Bank -

Bank debited but not credited by Bangladesh Bank -
Bangladesh Bank credited but not debited by Bank -
Bangladesh Bank debited but not credited by Bank -
-

B-3 Foreign Currency As per Bangladesh Bank Statement As Per Bank's General ledger Reconciling Difference
GBP GBP GBP GBP

GBP -Clearing Account 702 702 81,240 -

702 702 81,240 -

Bank credited but not debited by Bangladesh Bank -

Bank debited but not credited by Bangladesh Bank -
Bangladesh Bank credited but not debited by Bank -
Bangladesh Bank debited but not credited by Bank -
-

C. Maturity grouping of FC Clearing balance with Bangladesh Bank As of 31 December 2021

Repayable -on demand 455,700,395

– up to 1 months -
–over 1 months but not morethan 3 months -
– over 3 months but not morethan 1 year -
– over 1 year but not morethan 5 years -
– over 5 years -

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 NRB Commercial Bank Limited
Placement of Fund (FDR/TDR) with Banks/NBFIs
As at 31 December 2021
Annexure-B
a. Placement of Fund (FDR/TDR) with Banks (FCY):
SL Name of the Banks Period Issue Date Maturity Date Principal Amount
1 Agrani Bank Limited 90 Daily 30/12/2021 30/03/2022 100,000,000.00
2 Union Bank Limited 184 Daily 17/07/2021 17/07/2022 72,047,500.00
Total 172,047,500.00

b. Placement of Fund (FDR/TDR) with Banks/NBFIs (LCY):

SL Name of the NFBIs Period Issue Date Maturity Date Principal Amount
1 Bangladesh Industrial Finance Company Ltd. 365 Daily 11/03/2018 11/03/2019 52,404,993.98
2 Bangladesh Industrial Finance Company Ltd. 365 Daily 15/04/2018 15/04/2019 55,070,528.56
3 UNION CAPITAL LTD. 181 Daily 26/07/2021 23/01/2022 50,000,000.00
4 Phoenix Finance & Investment Limited 181 Daily 16/08/2021 13/02/2022 40,000,000.00
5 PRIME FINANCE & INVESTMENT LIMITED 181 Daily 17/08/2021 14/02/2022 35,000,000.00
6 Phoenix Finance & Investment Limited 182 Daily 02/09/2021 03/03/2022 70,000,000.00
7 Meridian Finance and Investment Ltd. 180 Daily 07/09/2021 06/03/2022 40,000,000.00
8 Industrial & Infrastructure Development Finance Company Ltd. 181 Daily 20/09/2021 20/03/2022 50,000,000.00
9 Phoenix Finance & Investment Limited 181 Daily 21/09/2021 21/03/2022 40,000,000.00
10 ICB 91 Daily 27/09/2021 27/12/2021 450,000,000.00
11 FIRST LEASE FINANCE AND INVESTMENT LTD. 91 Daily 04/10/2021 03/01/2022 17,500,000.00
12 GSP Finance Company (Bangladesh) Limited 91 Daily 05/10/2021 04/01/2022 150,000,000.00
13 UNION CAPITAL LTD. 91 Daily 17/10/2021 16/01/2022 50,000,000.00
14 UNION CAPITAL LTD. 181 Daily 27/10/2021 26/04/2022 50,000,000.00
15 FAS FINANCE AND INVESTMENT LIMITED 181 Daily 15/11/2021 15/05/2022 60,000,000.00
16 PRIME FINANCE & INVESTMENT LIMITED 90 Daily 16/11/2021 14/02/2022 37,500,000.00
17 Meridian Finance and Investment Ltd. 180 Daily 01/12/2021 30/05/2022 100,000,000.00
18 Meridian Finance and Investment Ltd. 182 Daily 02/12/2021 02/06/2022 40,000,000.00
19 FAREAST FINANCE AND INVESTMENT LTD. 180 Daily 28/12/2021 26/06/2022 50,000,000.00
20 INTERNATIONAL LEASING & FINANCIAL SERVICES LTD. 181 Daily 30/12/2021 29/06/2022 70,000,000.00
21 INTERNATIONAL LEASING & FINANCIAL SERVICES LTD. 91 Daily 30/12/2021 31/03/2022 30,000,000.00
Total 1,537,475,522.54

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 NRB Commercial Bank Limited
Currency wise balance position of Nostro Accounts
As at 31 December 2021
Annexure-C
a. Balance with other banks-Outside Bangladesh (Nostro Account) as at 31 December 2021

As at 31 December 2021 As at 31 December 2020

SL Name of Foreign Foreign
Name of the Account Location Conversion Equivalent Conversion Equivalent
Currency Currency Currency
Rate to Taka Rate to Taka
Amount Amount
1 Habib American Bank New York USD 128,795 85.8000 11,050,572 5,831,638 84.8000 494,522,879
2 Mashreq Bank PSC New York USD 187,050 85.8000 16,048,887 4,449,751 84.8000 377,338,903
3 AB Bank Limited Mumbai Acu Dollar 191,550 85.8000 16,434,980 147,860 84.8000 12,538,569
4 Mashreq Bank PSC London GBP Account Closed Account Closed
5 United Bank of India Kolkata Acu Dollar 15,476 85.8000 1,327,807 3,324 84.8000 281,849
6 United Bank of India Kolkata Acu Euro 20,868 97.3658 2,031,847 10,635 103.5747 1,101,507
7 Mashreq Bank PSC London EURO Account Closed Account Closed
8 BHF-Bank Aktiengesellschaft, EURO Account Closed Account Closed
Germany
9 Mashreq Bank PSC Mumbai Acu Dollar 73,898 85.8000 6,340,483 12,933 84.8000 1,096,755
10 National Bank of Pakistan Tokyo Jap. Yen 2,182,202 0.7463 1,628,577 4,461,600 0.8169 3,644,681
11 Kookmin Bank Seoul USD 68,038 85.8000 5,837,621 86,772 84.8000 7,358,231
12 Kookmin Bank Seoul GBP 23,839 115.7099 2,758,437 48,594 114.0475 5,542,006
13 Habib Metro Bank Limited Karachi Acu Dollar 12,989 85.8000 1,114,494 3,155 84.8000 267,581
14 Aktif Yatirim Bankasi A.S Istanbul EURO Account Closed Account Closed
15 Banca UBAE S.P.A Rome EURO 5,833 97.3658 567,936 35,315 103.5747 3,657,790
16 Axis Bank Limited Kolkata Acu Dollar 20,316 85.8000 1,743,074 25,197 84.8000 2,136,687
17 BANK of Huzhou China CNY 36,969 13.4616 497,667 34,367 12.9781 446,017
18 Zhejiang Chouzhou Commercial Bank Co. Ltd. China USD 3,582 85.8000 307,371 - - -
19 Zhejiang Chouzhou Commercial Bank Co. Ltd. China CNY - 13.4616 - - - -
20 Mizuho Bank Ltd. Tokyo Jap. Yen 1,192,910 0.7463 890,269 - - -
21 Sonali Bank (UK) Ltd. London USD 162,218 85.8000 13,918,310 - - -
22 Sonali Bank (UK) Ltd. London GBP 5,296 115.7099 612,787 - - -
23 Sonali Bank (UK) Ltd. London EURO 2,076 97.3658 202,116 - - -
24 Sonali Bank Kolkata Acu Dollar 18,392 85.8000 1,578,053 - - -
Total 4,352,297 84,891,288 15,151,141 909,933,455

b. Statement of outstanding unreconciled entries (nostro account) as at 31 December 2021

As per Local book As per Correspondent's book
Sl. No Period of Unreconciliation Debit Entries Credit Entries Debit Entries Credit Entries
Number Amount(USD) Number Amount(USD) Number Amount(USD) Number Amount(USD)
1 Less than one (01) Month 0 - 17 357,731.6 6 24,394 66 2,290,920
2 More than 1 Month but less than 3 Months
3 More than 3 Month but less than 6 Months
4 More than 6 Month but less than 9 Months
5 More than 9 Month but less than 12 Months
6 More than 12 Months
- - 17.00 357,732 6.00 24,394 66.00 2,290,920

C. Maturity grouping of balance of Nostro Accounts

Repayable – on demand 84,891,288

– up to 1 months -
– over 1 months but not morethan 3 months -
– over 3 months but not morethan 1 year -
– over 1 year but not morethan 5 years -
– over 5 years -

245
 NRB Commercial Bank Limited
Disclosure regarding of the securities under Repo and Reverse Repo
As at 31 December 2021
Annexure-D
a. (i) Disclosure regarding outstanding Repo as on 31 December 2021

Amount
SL No Counter party name Agreement Date Reversal Date
(Ist leg cash consideration)
Nil
Total -

a. (ii)Disclosure regarding outstanding Reverse Repo as on 31 December 2021

Amount
SL No Counter party name Agreement Date Reversal Date
(Ist leg cash consideration)
Nil
Total -

b. Disclosure regarding overall transaction of outstanding Repo and Reverse repo

Minimum Maximum Daily average

SL No Counter party name outstanding outstanding outstanding during
during the year during the year the year
Securities Sold Under repo:
i. With Bangladesh Bank - - -
ii With Other Bank & FIs 716,567,026 2,406,215,412 47,310,699
Securities purchased under reverse repo:
I. From Bangladesh Bank - - -
ii from Other Bank & Fls - - -

246
 NRB Commercial Bank Limited
Investment in Share Portfolio, Preference Share and Bonds
As at 31 December 2021
Annexure-E
a-1. Quoted shares & MFs under Own Discretionary Fund by NRBC itself and and Asian Tiger Capital Partners Investments Ltd:
SL Industry Types Market Value (Tk.) Cost Value (Tk.) Appreciation/(Depreciation)
1 Bank 198,871 210,911 (12,039.62)
2 Engineering 11,488,000 13,731,284 (2,243,284.00)
3 Financial Institutions 42,136,554 69,441,852 (27,305,298.07)
4 Food & Allied 1,148,588 1,137,690 10,897.60
5 Insurance 683,158,508 774,539,902 (91,381,394.12)
6 Miscellaneous 412,970 412,970 -
7 Mutual Funds 20,000,000 20,000,000 -
8 Paper & Printing 50,264,885 47,400,394 2,864,490.59
9 Pharmaceuticals & Chemicals 24,559,474 29,300,212 (4,740,738.06)
10 Telecommunication 27,523,100 25,711,003 1,812,096.80
Sub-Total (a-1) 860,890,949 981,886,218 (120,995,268.88)

a-2. Quoted shares & MFs under Special Scheme Fund:

SL Industry Types Market Value (Tk.) Cost Value (Tk.) Appreciation/(Depreciation)
1 Bank 108,590,955 118,881,675 (10,290,720)
2 Cement 6,888,569 7,821,495 (932,926)
3 Financial Institutions 40,835,266 45,581,331 (4,746,065)
4 Fuel & Power 21,065,000 19,823,271 1,241,729
5 Insurance 273,730,898 285,148,001 (11,417,103)
6 Mutual Funds 32,119,303 40,052,666 (7,933,363)
7 Pharmaceuticals & Chemicals 94,683,646 90,296,803 4,386,842
8 Tannery Industries 96,705,000 99,408,362 (2,703,362)
9 Textile 70,134,286 86,343,796 (16,209,510)
Sub-Total (a-2) 744,752,922 793,357,401 (48,604,478)

Total (a-1 and a-2) 1,605,643,871 1,775,243,618 (169,599,747)

b-1. Own & Special Fund wise investment in Quoted shares & Mfs:
SL Fund Types BO Account Market Value (Tk.) Cost Value (Tk.) Appreciation/(Depreciation)
1 Own Discretionary Fund 1205950052123209 785,753,959 897,395,584 -(111,641,625)
2 Special Scheme Fund 1205950072055130 744,752,922 793,357,401 -(48,604,478)
3 Asian Tiger Capital Partners Investments Ltd. 1605930073622750 75,136,990 84,490,634 -(9,353,644)
4 MBL Securities Ltd 1602170051312906 Nil Nil Nil
Total 1,605,643,871 1,775,243,618 (169,599,747.17)

b-2. Investment in Sukuk Bonds (Quoted ):

SL Issuer Name Financial Product Tenure Rental yield (Apprx) Maturity Date Amount (Taka) Major Feature
1 Beximco Limited SUKUK Bond 5 years 9.00% 30/12/2026 500,000,000 Secured Convertible or Redemable
Asset-Backed Green-Sukuk having
feature of Base Rate plus Profit
Margin Rate if Issuer Dividend
Declard of previous year is more
than base rate.

Total 500,000,000

247
 Annexure-E
c. Investment in Preference Share:
SL Issuer Name Financial Product Tenure Intt. Rate/ Maturity Date Amount (Taka) Major Feature
Divi.
1 Regent Power Limited Regent Power 6 Years 13.00% 11-May-20 37,475,580 Preference Share with having tax
Impress-Newtex Preference Share Rebate
2 Composite Textiles Impress-Newtex 5 Years 8.30% 6-Jul-26 350,000,000 Face value BDT Tk. 10.00 per
Limited Composite Textiles issue wherein Dividend to be
Limited Preference Share paid Half Yearly Basis.
3 Jinnat Knitwears Jinnat Knitwears Limited 5 Years 8.35% 28-Oct-26 400,000,000 Face value BDT Tk. 100.00 per
Limited Preference Share issue wherein Dividend to be
paid on each anniversary.
Default Divdend Rate is 2% for
default of dividend payment on
schedule date.
Total 787,475,580

d. Investment in Sub-ordinated Bonds:

SL Issuer Name Financial Product Tenure Intt. Rate/ Maturity Date Amount (Taka) Major Feature
Divi.
1 One Bank One Bank Subordinated 7 years 5-May-26 500,000,000 Ranging From 7% to 9% based on 6
Floating month average FDR rate of schedule
Bond-iii
rate Bank Plus 2.0% markup.
2 United Commercial UCBL Subordinated 7 years Floating 5-Dec-26 500,000,000 Coupon Range 7%-10.50%.Based on
Bank Limited Bond-iv rate 6 month average FDR rate of schedule
Bank Plus 2.0% markup.
3 IPDC Finance IPDC Finance 6 years Floating 31-Jul-25 120,000,000 7.96%+3%=10.96% Ranging From
Subordinated Bond rate 7.50% to 11% based on 6 month
average FDR rate of schedule Bank
Plus 3.0% markup.
4 United Commercial UCBL Subordinated Bond 7 years Floating 29-Jul-22 20,000,000 Subordinated Bond having Floating
Bank Limited rate Rateof Govt bond Ranging from
10%to 13.50% based on 6 month
average FDR rate of schedule Bank
Plus 2.5% mark-up
5 Mutual Trust Bank MTB Subordinated Bond 7 years Floating 20-Oct-22 40,000,000 Subordinated Bond having Floating
Rate of Govt bond Ranging from
Limited rate
10.50%to 13.50% based on 6 month
average FDR rate of schedule Bank
Plus 2.5% mark-up
6 AB Bank Limited 2nd AB Bank 7 years Floating 29-Sep-22 60,000,000 Subordinated Bond having Floating
Subordinated Bond rate Rate of Govt bond Ranging from
10.50%to 13.50% based on 6 month
average FDR rate of schedule Bank
Plus 2.5% margin
Total 1,240,000,000

e. Investment in Perpetual Bonds:

SL Issuer Name Financial Product Tenure Intt. Rate/ Maturity Date Amount (Taka) Major Feature
Divi.
1 The City Bank Ltd Perpetual Bond N/A Floating N/A 300,000,000 Latest available rate of 20 years
rate treasury Bond by BB five (5) days
before the first day of any period
for which a coupon rate is to be
determined
2 Jamuna Bank Ltd Perpetual Bond N/A Floating N/A 400,000,000 Latest available rate of 20 years
rate treasury Bond by BB five (5) days
before the first day of any period
for which a coupon rate is to be
determined
3 United Commercial Perpetual Bond N/A Floating N/A 450,000,000 Latest available rate of 20 years
Bank Limited rate treasury Bond by BB five (5) days
before the first day of any period
for which a coupon rate is to be
determined
Total 1,150,000,000

248
 NRB Commercial Bank Limited
Financial Administration Division-Head Office

Subject: Branch wise Refinance Facilities received from Bangladesh Bank-based on December 31, 2021 Annexure-F
Date of Last
Refinance Remaining
Branch- Client-Name Tenor Disbursement Installment Total Principal
Branch-Name Fund Type Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0101 Principal Branch Stylo Women Entrepreneur 5 Years 800,000 22/12/2019 22/09/2021 280,000 520,000
0101 Principal Branch Mask Associates Limited Jute &Jute Products 1 Year 20,000,000 22/06/2020 22/06/2021 20,000,000 -
0101 Principal Branch Spicy Chittagong Women Entrepreneur 5 Years 500,000 19/01/2020 19/10/2021 175,000 325,000
0101 Principal Branch Frame House Footwear Limited Covid-19-Stimulus 1.5 Years 6,211,888 07/06/2020 21/12/2021 1,241,652 4,970,236
0101 Principal Branch Greenstone Knitwear Limited Covid-19-Stimulus 1.5 Years 1,759,000 07/06/2020 21/12/2021 361,164 1,397,836
0101 Principal Branch Frame House Footwear Limited Covid-19-Stimulus 1.5 Years 6,835,777 28/04/2020 21/12/2021 1,241,652 5,594,125
0101 Principal Branch Greenstone Knitwear Limited Covid-19-Stimulus 1.5 Years 1,942,500 28/04/2020 21/12/2021 361,164 1,581,336
0101 Principal Branch Greenstone Knitwears Limited Large Industries & Services 1 Year 971,242 09/09/2020 09/09/2021 203,155 768,087
0101 principal Branch Framehouse Footwear Limited Large Industries & Services 1 Year 3,046,193 09/09/2020 09/09/2021 698,429 2,347,763
0101 Principal Branch Greenstone Knitwears Limited Large Industries & Services 1 Year 971,000 09/09/2020 09/09/2021 203,155 767,845
0101 Principal Branch Framehouse Footwear Limited Large Industries & Services 1 Year 3,020,142 30/09/2020 30/09/2021 698,429 2,321,712
0101 Principal Branch Nitol Motors Limited Large Industries & Services 1 Year 24,453,976 29/11/2020 28/11/2021 24,453,976 -
0101 Principal Branch FARS Hotel & Resorts Limited Large Industries & Services 1 Year 4,981,000 29/11/2020 28/11/2021 4,981,000 -
0101 Principal Branch Mir Akhter Hossai Limited Large Industries & Services 1 Year 25,000,000 29/11/2020 28/11/2021 25,000,000 -
0101 Principal Branch Next Food & Beverage Industries Limited Large Industries & Services 1 Year 7,475,000 29/11/2020 28/11/2021 7,475,000 -
0101 Principal Branch H.R.International Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 14/10/2020 13/10/2021 5,000,000 -
0101 Principal Branch Amin Corporation Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 14/10/2020 13/10/2021 2,500,000 -
0101 Principal Branch Mannan Coporation Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 14/10/2020 13/10/2021 2,500,000 -
0101 Principal Branch Gem Enterprise Limited Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 04/10/2020 03/10/2021 5,000,000 -
0101 Principal Branch Golden Star Industries Limited Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 04/10/2020 03/10/2021 7,500,000 -

249
0101 Principal Branch M.S.I. Plastic Industries Limited Refinance for SME-Enterpreneur-CMSME 1 Year 10,000,000 04/10/2020 03/10/2021 10,000,000 -
0101 Principal Branch Reliance Trim Park Limited Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 17/11/2020 16/11/2021 7,500,000 -
0101 Principal Branch East West Travels and Tours Pvt. Ltd. Large Industries & Services 1 Year 7,500,000 29/12/2020 29/12/2021 7,500,000 -
0101 Principal Branch Runner Motors Limited Large Industries & Services 1 Year 15,000,000 29/12/2020 29/12/2021 15,000,000 -
0101 Principal Branch Rangs Motors Limited Large Industries & Services 1 Year 10,000,000 29/12/2020 29/12/2021 10,000,000 -
0101 Principal Branch FARS Hotel & Resorts Limited Large Industries & Services 1 Year 17,474 29/12/2020 29/12/2021 17,474 -
0101 Principal Branch Next Food & Beverage Industries Limited Large Industries & Services 1 Year 13,122 29/12/2020 29/12/2021 13,122 -
0101 Principal Branch Electrical Engineering Company Refinance for SME-Enterpreneur-CMSME 1 Year 625,000 22/12/2020 22/12/2021 625,000 -
0101 Principal Branch Bhaiya Housing Limited Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 22/12/2020 22/12/2021 5,000,000 -
0101 Principal Branch Concept Label&Accessories Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 31/01/2021 30/01/2022 1,250,000
0101 Principal Branch T.A. TRADE INTERNATIONAL Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 750,000
Sub Total 188,123,313 165,529,373 22,593,94
 Annexure-F
Date of Last
Refinance Remaining
Branch- Client-Name Tenor Disbursement Installment Total Principal
Branch-Name Fund Type Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0102 Gulshan Branch Louietex Manufacturing Limited Covid-19-Stimulus 1.5 Years 30,181,372 27/07/2021 21/12/2021 6,706,972 23,474,401
0102 Gulshan Branch R Tex Fashion Limited Covid-19-Stimulus 1.5 Years 2,181,029 07/06/2020 21/12/2021 447,815 1,733,214
0102 Gulshan Branch Alauddin & Son's Private Limited Covid-19-Stimulus 1.5 Years 5,983,432 07/06/2020 21/12/2021 1,420,158 4,563,274
0102 Gulshan Branch R-Tex Fashion Limited Covid-19-Stimulus 1.5 Years 2,353,100 28/04/2020 21/12/2021 447,815 1,905,285
0102 Gulshan Branch Alauddin& Son's Private Limited Covid-19-Stimulus 1.5 Years 8,950,000 05/05/2020 21/12/2021 1,420,158 7,529,842
0102 Gulshan Branch Nassa Taipei Textile Mills Limited Large Industries & Services 1 Year 75,000,000 09/09/2020 09/09/2021 75,000,000
0102 Gulshan Branch Alauddin & Sons Pvt Limited Large Industries & Services 1 Year 4,724,986 09/09/2020 09/09/2021 1,597,678 3,127,308
0102 Gulshan Branch R Tex Fashion Limited Large Industries & Services 1 Year 1,176,550 09/09/2020 09/09/2021 251,896 924,654
0102 Gulshan Branch Western Engineering (Prv.) Limited Large Industries & Services 1 Year 50,000,000 30/09/2020 30/09/2021 50,000,000 -

250
0102 Gulshan Branch Rider Leather Bags and Luggage Factory Limited Large Industries & Services 1 Year 4,500,000 30/09/2020 30/09/2021 4,500,000 -
0102 Gulshan Branch R Tex Fashion Limited Large Industries & Services 1 Year 1,173,093 30/09/2020 30/09/2021 251,896 921,196
0102 Gulshan Branch Star Particle Board Mills Limited Large Industries & Services 1 Year 75,000,000 29/11/2020 28/11/2021 75,000,000 -
0102 Gulshan Branch Sanji Stainless Steel Large Industries & Services 1 Year 17,000,000 29/11/2020 28/11/2021 17,000,000 -
0102 Gulshan Branch Sanji Property Development Limited Large Industries & Services 1 Year 9,000,000 29/11/2020 28/11/2021 9,000,000 -
0102 Gulshan Branch Panama CNG Conversion Large Industries & Services 1 Year 9,000,000 29/11/2020 28/11/2021 9,000,000 -
0102 Gulshan Branch Essence Industrial Gases Limited Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 14/10/2020 13/10/2021 1,500,000 -
0102 Gulshan Branch Bangladesh Building Systems Limited Large Industries & Services 1 Year 15,000,000 29/12/2020 29/12/2021 15,000,000 -
0102 Gulshan Branch Kapita Au- Bricks Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 22/12/2020 22/12/2021 7,500,000 -
0102 Gulshan Branch National Agri Care Import & Export Limited Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 31/01/2021 30/01/2022 5,000,000
0102 Gulshan Branch One Pharma Limited Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 31/01/2021 30/01/2022 5,000,000
0102 Gulshan Branch SEM Label & Accessories Ltd Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 500,000
Sub Total 330,723,561 201,044,388 129,679,173
0103 Ruhitpur Branch Amzed Engineering Works Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 14/10/2020 13/10/2021 1,000,000 -
Sub Total 1,000,000 1,000,000 -
0104 Mawna Branch Mawna Khela Ghar Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 27/12/2021 27/12/2022 150,000
0104 Mawna Branch M/s. Al-Amin Poultry Feed Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 27/12/2021 27/12/2022 2,500,000
0104 Mawna Branch Mannan Enterprise Agri 1 Year 5,000,000 01/04/2018 01/10/2021 3,500,000 1,500,000
0104 Mawna Branch Ruhul Amin Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 04/10/2020 03/10/2021 400,000 -
0104 Mawna Branch R.H. Filling Station Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 04/10/2020 03/10/2021 250,000 -
0104 Mawna Branch EFA Cloth Store Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0104 Mawna Branch Mahim Poultry & Dairy Agri-Working Capital 1.5 Years 300,000 01/12/2020 31/05/2022 300,000
0104 Mawna Branch Samia DAIRY Farm Agri-Working Capital 1.5 Years 600,000 01/12/2020 31/05/2022 600,000
0104 Mawna Branch M/s. Mannan Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 29/06/2021 28/06/2022 1,500,000
0104 Mawna Branch M/s. Nasir Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 29/06/2021 28/06/2022 1,000,000
0104 Mawna Branch M/s. Sakib Glass & Thai Hardware Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 150,000
Sub Total 12,350,000 4,650,000 7,700,000
0105 Agrabad Branch M/s. Dragon Trade International Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 29/06/2021 28/06/2022 1,000,000
Sub Total 1,000,000 - 1,000,000
 Annexure-F
Date of Last
Refinance Remaining
Branch- Fund Type Tenor Disbursement Installment Total Principal
Branch-Name Client-Name Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0106 Chinishpur Branch MS. Gazi Fish Feed, Poultry Feed & Fisheries Agri-Working Capital 1.5 Years 13,000,000 19/07/2020 19/07/2022 13,000,000
0106 Chinishpur Branch MS. Sourov Textile Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 04/10/2020 03/10/2021 2,500,000 -
0106 Chinishpur Branch MS. Nurunnahar Textile Refinance for SME-Enterpreneur-CMSME 1 Year 350,000 17/11/2020 16/11/2021 350,000 -
0106 Chnishpur Branch MS. Refat Textile Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 22/12/2020 22/12/2021 7,500,000 -
0106 Chinishpur Branch Oyshi Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 31/01/2021 30/01/2022 - 250,000
0106 Chinishpur Branch M/s. Siraz Traders Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
0106 Chinishpur Branch M/S. Nazmul Haque Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 29/06/2021 28/06/2022 - 5,000,000
Sub Total 29,350,000 10,350,000 19,000,000
0107 Hemayetpur Branch Hello Dhaka-Period Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 04/10/2020 03/10/2021 750,000 -
0107 Hemayetpur Branch Mugdha Rice Agency Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 17/11/2020 16/11/2021 250,000 -
0107 Hemayetpur Branch MS. shaker Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 17/11/2020 16/11/2021 250,000 -
0107 Hemayetpur Branch Oriental Pharma Agro Vets ltd. Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 17/11/2020 16/11/2021 1,500,000 -
0107 Hemayetpur Branch Ahad Dairy Firm Agri-Working Capital 1.5 Years 1,000,000 28/09/2020 27/03/2022 - 1,000,000
0107 Hemayetpur Branch Fatima Poultry & Feed Agri-Working Capital 1.5 Years 500,000 01/12/2020 31/05/2022 - 500,000
Sub Total 4,250,000 2,750,000 1,500,000
0108 Uttara Branch Sweatertech Limited Covid-19-Stimulus 1.5 Years 20,172,635 28/04/2020 21/12/2021 3,187,866 16,984,769
0108 Uttara Branch Blue Planet Knitwear Limited Covid-19-Stimulus 1.5 Years 25,234,844 28/04/2020 21/12/2021 4,479,279 20,755,565
0108 Uttara Branch Silver Apparels Limited Covid-19-Stimulus 1.5 Years 51,145,205 28/04/2020 21/12/2021 6,906,059 44,239,146
0108 Uttara Branch 5F-Apparles Limited Covid-19-Stimulus 1.5 Years 11,531,891 28/04/2020 21/12/2021 2,016,040 9,515,851
0108 Uttara Branch R. S. Knit Fashion Limited Covid-19-Stimulus 1.5 Years 1,805,250 28/04/2020 21/12/2021 276,269 1,528,981
0108 Uttara Branch Shafi Knit Limited Covid-19-Stimulus 1.5 Years 5,309,200 28/04/2020 21/12/2021 914,452 4,394,748
0108 Uttara Branch Mahadi Fashion Limited Covid-19-Stimulus 1.5 Years 17,446,638 28/04/2020 21/12/2021 3,440,152 14,006,486
0108 Uttara Branch Colour & Fashion Industries Limited Covid-19-Stimulus 1.5 Years 10,577,886 28/04/2020 21/12/2021 2,082,648 8,495,238
0108 Uttara Branch Jim & Jessi Composite Limited Covid-19-Stimulus 1.5 Years 9,863,409 28/04/2020 21/12/2021 1,853,814 8,009,595
0108 Uttara Branch Huizhou Baijia Glove Co. Limited Covid-19-Stimulus 1.5 Years 14,866,667 28/04/2020 21/12/2021 2,302,270 12,564,397
0108 Uttara Branch Inside Knit Composite Limited Covid-19-Stimulus 1.5 Years 5,367,679 28/04/2020 21/12/2021 1,053,521 4,314,158

251
0108 Uttara Branch Taratex Fashion Limited Covid-19-Stimulus 1.5 Years 30,230,033 28/04/2020 21/12/2021 6,678,355 23,551,678
0108 Uttara Branch Tas Knit & Fashion Limited Covid-19-Stimulus 1.5 Years 4,178,197 28/04/2020 21/12/2021 823,887 3,354,310
0108 Uttara Branch Ixora Apparels Limited Covid-19-Stimulus 1.5 Years 9,575,991 28/04/2020 21/12/2021 1,866,814 7,709,177
0108 Uttara Branch Blessing Knitwear Limited Covid-19-Stimulus 1.5 Years 9,000,000 28/04/2020 21/12/2021 1,520,084 7,479,916
0108 Uttara Branch Polygon Fashion Limited Covid-19-Stimulus 1.5 Years 6,741,867 28/04/2020 21/12/2021 1,331,088 5,410,779
0108 Uttara Branch SKRMS Fashions Limited Covid-19-Stimulus 1.5 Years 3,487,611 28/04/2020 21/12/2021 669,745 2,817,866
0108 Uttara Branch Stylish Garments Limited Covid-19-Stimulus 1.5 Years 9,052,514 28/04/2020 21/12/2021 1,430,598 7,621,916
0108 Uttara Branch Relux Fashion Limited Covid-19-Stimulus 1.5 Years 1,284,200 28/04/2020 21/12/2021 242,892 1,041,308
0108 Uttara Branch BEQ-Knit Limited Covid-19-Stimulus 1.5 Years 13,288,841 05/05/2020 21/12/2021 1,964,372 11,324,469
0108 Uttara Branch Tammam Design Limited Covid-19-Stimulus 1.5 Years 6,892,159 05/05/2020 21/12/2021 1,050,018 5,842,141
0108 Uttara Branch Sweatertech Limited Covid-19-Stimulus 1.5 Years 14,087,172 07/06/2020 21/12/2021 3,187,866 10,899,306
0108 Uttara Branch Blue Planet Knitwear Limited Covid-19-Stimulus 1.5 Years 14,402,176 07/06/2020 21/12/2021 4,479,279 9,922,897
0108 Uttara Branch Silver Apparels Limited Covid-19-Stimulus 1.5 Years 24,372,703 07/06/2020 21/12/2021 6,906,059 17,466,644
 Annexure-F
Date of Last
Refinance Remaining
Branch- Fund Type Tenor Disbursement Installment Total Principal
Branch-Name Client-Name Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0108 Uttara Branch 5 F Apparels Limited Covid-19-Stimulus 1.5 Years 8,880,773 07/06/2020 21/12/2021 2,016,040 6,864,733
0108 Uttara Branch R. S-Knit Fashion Limited Covid-19-Stimulus 1.5 Years 993,978 07/06/2020 21/12/2021 276,269 717,709
0108 Uttara Branch Shafi Knit Limited Covid-19-Stimulus 1.5 Years 3,964,446 07/06/2020 21/12/2021 914,452 3,049,994
0108 Uttara Branch Mahadi Fashion Limited Covid-19-Stimulus 1.5 Years 17,415,770 07/06/2020 21/12/2021 3,440,152 13,975,618
0108 Uttara Branch Colour & Fashion Ind Limited Covid-19-Stimulus 1.5 Years 10,525,441 07/06/2020 21/12/2021 2,082,648 8,442,793
0108 Uttara Branch Jim & Jessi Composite Limited Covid-19-Stimulus 1.5 Years 9,385,433 07/06/2020 21/12/2021 1,853,814 7,531,619
0108 Uttara Branch Huizhou Baijia Glove Co. Limited Covid-19-Stimulus 1.5 Years 10,204,139 07/06/2020 21/12/2021 2,302,270 7,901,869
0108 Uttara Branch Inside Knit Composite Limited Covid-19-Stimulus 1.5 Years 5,300,728 07/06/2020 21/12/2021 1,053,521 4,247,207
0108 Uttara Branch Taratex Fashion Limited Covid-19-Stimulus 1.5 Years 20,064,072 07/06/2020 21/12/2021 4,432,512 15,631,560
0108 Uttara Branch Tas Knit & Fashion Limited Covid-19-Stimulus 1.5 Years 4,170,871 07/06/2020 21/12/2021 823,887 3,346,984

252
0108 Uttara Branch Ixora Apparels Limited Covid-19-Stimulus 1.5 Years 9,529,992 07/06/2020 21/12/2021 1,866,814 7,663,178
0108 Uttara Branch Blessing Knitwear Limited Covid-19-Stimulus 1.5 Years 6,391,021 07/06/2020 21/12/2021 1,520,084 4,870,937
0108 Uttara Branch Polygon Fashion Limited Covid-19-Stimulus 1.5 Years 6,741,160 07/06/2020 21/12/2021 1,331,088 5,410,072
0108 Uttara Branch SKRMS Fashions Limited Covid-19-Stimulus 1.5 Years 3,317,525 07/06/2020 21/12/2021 669,745 2,647,780
0108 Uttara Branch Stylish Garments Limited Covid-19-Stimulus 1.5 Years 5,432,000 07/06/2020 21/12/2021 1,430,598 4,001,402
0108 Uttara Branch BEQ-Knit Limited Covid-19-Stimulus 1.5 Years 6,604,203 07/06/2020 21/12/2021 1,964,372 4,639,831
0108 Uttara Branch Tammam Design Limited Covid-19-Stimulus 1.5 Years 3,909,070 07/06/2020 21/12/2021 1,050,018 2,859,052
0108 Uttara Branch Relux Fashion Limited Covid-19-Stimulus 1.5 Years 1,176,863 07/06/2020 21/12/2021 242,892 933,971
0108 Uttara Branch Silver Apparels Limited Large Industries & Services 1 Year 22,472,232 09/09/2020 09/09/2021 663,397 21,808,835
0108 Uttara Branch Mahadi Fashion Pvt. Limited Large Industries & Services 1 Year 8,707,885 09/09/2020 09/09/2021 1,935,086 6,772,799
0108 Uttara Branch Sweatertech Limited Large Industries & Services 1 Year 10,083,334 09/09/2020 09/09/2021 1,793,175 8,290,159
0108 Uttara Branch Jim & Jessi Composite Limited Large Industries & Services 1 Year 4,928,816 09/09/2020 09/09/2021 1,042,770 3,886,046
0108 Uttara Branch Color & Fashion Industries Limited Large Industries & Services 1 Year 5,284,532 09/09/2020 09/09/2021 1,171,490 4,113,042
0108 Uttara Branch Taratex Fashion Limited Large Industries & Services 1 Year 12,124,348 09/09/2020 09/09/2021 663,111 11,461,236
0108 Uttara Branch Tammam Design Limited Large Industries & Services 1 Year 3,404,049 09/09/2020 09/09/2021 590,635 2,813,414
0108 Uttara Branch Beq Knit Limited Large Industries & Services 1 Year 6,573,461 09/09/2020 09/09/2021 1,104,959 5,468,501
0108 Uttara Branch Blue Planet Knitwears Limited Large Industries & Services 1 Year 9,492,345 09/09/2020 09/09/2021 663,111 8,829,234
0108 Uttara Branch 5 F Apparels Limited Large Industries & Services 1 Year 5,765,921 09/09/2020 09/09/2021 1,134,023 4,631,898
0108 Uttara Branch Ixora Apparels Limited Large Industries & Services 1 Year 4,787,197 09/09/2020 09/09/2021 1,050,083 3,737,114
0108 Uttara Branch Shafi Knit Limited Large Industries & Services 1 Year 2,651,176 09/09/2020 09/09/2021 514,379 2,136,796
0108 Uttara Branch Huizhou Baijia Glove Co. Limited Large Industries & Services 1 Year 7,367,029 09/09/2020 09/09/2021 1,295,027 6,072,002
0108 Uttara Branch SKRMS Fashions Limited Large Industries & Services 1 Year 1,740,025 09/09/2020 09/09/2021 376,732 1,363,293
0108 Uttara Branch Blessings Knitwear Limited Large Industries & Services 1 Year 4,500,000 09/09/2020 09/09/2021 855,048 3,644,953
0108 Uttara Branch Tas Knit and Fashion Limited Large Industries & Services 1 Year 2,085,436 09/09/2020 09/09/2021 463,437 1,621,999
0108 Uttara Branch R S Knit Fashions Limited Large Industries & Services 1 Year 901,863 09/09/2020 09/09/2021 155,402 746,461
0108 Uttara Branch Relux Fashions Limited Large Industries & Services 1 Year 625,280 09/09/2020 09/09/2021 273,253 352,027
0108 Uttara Branch Inside Knit Composite Limited Large Industries & Services 1 Year 2,683,228 09/09/2020 09/09/2021 592,605 2,090,623
0108 Uttara Branch Polygon Fashion Limited Large Industries & Services 1 Year 3,368,054 09/09/2020 09/09/2021 1,497,474 1,870,580
0108 Uttara Branch Stylish Garments Limited Large Industries & Services 1 Year 4,525,000 09/09/2020 09/09/2021 1,609,422 2,915,578
 Annexure-F
Date of Last
Refinance Remaining
Branch- Fund Type Tenor Disbursement Installment Total Principal
Branch-Name Client-Name Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0108 Uttara Branch Taratex Fashion Limited Large Industries & Services 1 Year 15,108,348 30/09/2020 30/09/2021 5,586,752 9,521,596
0108 Uttara Branch Silver Apparels Limited Large Industries & Services 1 Year 25,437,626 30/09/2020 30/09/2021 7,105,919 18,331,707
0108 Uttara Branch SKRMS Fashions Limited Large Industries & Services 1 Year 1,739,918 30/09/2020 30/09/2021 376,732 1,363,186
0108 Uttara Branch R S Knit Fashions Limited Large Industries & Services 1 Year 901,750 30/09/2020 30/09/2021 155,402 746,348
0108 Uttara Branch Mahadi Fashion Pvt. Limited Large Industries & Services 1 Year 8,707,885 30/09/2020 30/09/2021 1,935,086 6,772,799
0108 Uttara Branch Blue Planet Knitwears Limited Large Industries & Services 1 Year 12,473,250 30/09/2020 30/09/2021 4,376,078 8,097,172
0108 Uttara Branch Ixora Apparels Limited Large Industries & Services 1 Year 4,787,000 30/09/2020 30/09/2021 1,050,083 3,736,917
0108 Uttara Branch 5 F Apparels Limited Large Industries & Services 1 Year 5,765,911 30/09/2020 30/09/2021 1,134,023 4,631,888
0108 Uttara Branch Sweatertech Limited Large Industries & Services 1 Year 10,083,334 30/09/2020 30/09/2021 1,793,175 8,290,159
0108 Uttara Branch Inside Knit Composite Limited Large Industries & Services 1 Year 2,682,167 30/09/2020 30/09/2021 592,605 2,089,561
0108 Uttara Branch Beq Knit Limited Large Industries & Services 1 Year 5,422,318 30/09/2020 30/09/2021 1,104,959 4,317,359
0108 Uttara Branch Tammam Design Limited Large Industries & Services 1 Year 3,061,080 30/09/2020 30/09/2021 590,635 2,470,445
0108 Uttara Branch Jim & Jessi Composite Limited Large Industries & Services 1 Year 4,928,816 30/09/2020 30/09/2021 1,042,770 3,886,046
0108 Uttara Branch Shafi Knit Limited Large Industries & Services 1 Year 2,650,955 30/09/2020 30/09/2021 514,379 2,136,576
0108 Uttara Branch Tas Knit and Fashion Limited Large Industries & Services 1 Year 2,085,495 30/09/2020 30/09/2021 463,437 1,622,058
0108 Uttara Branch Huizhou Baijia Glove Co. Limited Large Industries & Services 1 Year 7,334,208 30/09/2020 30/09/2021 1,295,027 6,039,181
0108 Uttara Branch Blessings Knitwear Limited Large Industries & Services 1 Year 4,500,000 30/09/2020 30/09/2021 855,048 3,644,953
0108 Uttara Branch Color & Fashion Industries Limited Large Industries & Services 1 Year 5,284,487 30/09/2020 30/09/2021 1,171,490 4,112,997
0108 Uttara Branch Trishna Poultry khamar Agri-Working Capital 1.5 Years 270,000 23/09/2020 22/03/2022 - 270,000
0108 Uttara Branch Benison Packaging Refinance for SME-Enterpreneur-CMSME 1 Year 10,000,000 22/12/2020 22/12/2021 10,000,000 -
0108 Uttara Branch Royal Electric & Chemical Industries Limited Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 29/06/2021 28/06/2022 - 7,500,000
0108 Uttara Branch Progoti Packaging & Accessories Industries Ltd. Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 29/06/2021 28/06/2022 - 5,000,000
0108 Uttara Branch Shalbon Agro Firm Agri-Working Capital 1.5 Years 2,000,000 09/11/2021 09/05/2023 - 2,000,000
Sub Total 725,718,005 150,522,823 575,195,183
0109 Board Bazar Branch G.S Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 27/12/2021 27/12/2022 - 400,000
0109 Board Bazar Branch S.D.Packaging & Accessories Limited Refinance for SME-Enterpreneur-CMSME 1 Year 2,000,000 04/10/2020 03/10/2021 2,000,000 -

253
0109 Board Bazar Branch Asma Printing &Packaging Industries Limited Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 04/10/2020 03/10/2021 1,500,000 -
0109 Board Bazar Branch M/s. Luna Fashion Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
Sub Total 6,400,000 3,500,000 2,900,000
0110 Mograpara Branch M/S Dhaka Classic Furniture and Door Center Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 27/12/2021 27/12/2022 - 500,000
0110 Mugrapara Branch M/s. Noor Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 27/12/2021 27/12/2022 - 750,000
0110 Mugrapara Branch MS. Siam Saima Enterprise Women Entrepreneur 5 Years 600,000 16/11/2016 16/08/2020 600,000 -
0110 Mograpara Branch Raj Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0110 Mograpara Branch M/s. Padma Textile & Twisting Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0110 Mograpara Branch M/s. Master Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
Sub Total 3,350,000 600,000 2,750,000
0111 Dhanmondi Branch Smart-Leather Women Entrepreneur 5 Years 1,000,000 19/01/2020 19/07/2021 350,000 650,000
0111 Dhanmondi Branch Rahman Leather Product Covid-19-Stimulus 1.5 Years 941,445 07/06/2020 21/12/2021 185,255 756,190
0111 Dhanmondi Branch Rahman Leather Products Covid-19-Stimulus 1.5 Years 1,034,500 28/04/2020 21/12/2021 203,566 830,934
 Annexure-F
Date of Last
Refinance Remaining
Branch- Fund Type Tenor Disbursement Installment Total Principal
Branch-Name Client-Name Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0111 Dhanmondi Branch Rahman Leather Products Large Industries & Services 1 Year 512,705 09/09/2020 09/09/2021 109,356 403,349
0111 Dhanmondi Branch Rahman Leather Products Large Industries & Services 1 Year 513,139 30/09/2020 30/09/2021 109,356 403,783
0111 Dhanmondi Branch Ideal Leather Complex Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 14/10/2020 13/10/2021 2,500,000 -
0111 Dhanmondi Branch Rahman Leather Products Refinance for SME-Enterpreneur-CMSME 1 Year 6,000,000 04/10/2020 03/10/2021 6,000,000 -
0111 Dhanmondi Branch Accenture Footwear & Leather Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 04/10/2020 03/10/2021 5,000,000 -
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 1 Year 40,395,000 20/10/2020 20/10/2021 40,395,000 -
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 1 Year 9,605,000 06/12/2020 06/12/2021 9,605,000 -
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 1 Year 50,000,000 29/12/2020 29/12/2021 50,000,000 -
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 9 Months 20,000,000 28/02/2021 25/11/2021 13,333,333 6,666,667
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 9 Months 40,000,000 28/02/2021 25/11/2021 11,428,571 28,571,429

254
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 9 Months 60,000,000 04/05/2021 04/02/2022 20,000,000 40,000,000
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 9 Months 60,000,000 09/06/2021 09/12/2021 20,000,000 40,000,000
0111 Dhanmondi Branch Electro Globe Agency Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 31/01/2021 30/01/2022 - 5,000,000
0111 Dhanmondi Branch Trust Family Needs Shop,DT:31.01.21-30.01.22 Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 15,000,000 31/01/2021 30/01/2022 - 15,000,000
0111 Dhanmondi Branch M/s. G. B. Poly & Plastic Industries Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 29/06/2021 28/06/2022 - 1,250,000
0111 Dhanmondi Branch BASTOB-Initiatives for Social Development Low-Income Professional 1.5 years 40,000,000 12/08/2021 12/08/2023 - 40,000,000
Sub Total 358,751,788 179,219,437 179,532,351
0112 Aganagar Branch MS. Tanvir Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0112 Aganagar Branch A.S.B Trade Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 22/12/2020 22/12/2021 750,000 -
0112 Aganagar Branch Talha Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 31/01/2021 30/01/2022 - 500,000
0112 Aganagar Branch Chisty Trading Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 31/01/2021 30/01/2022 - 500,000
0112 Aganagar Branch M/S. Jubayer Steel Pipe Industries Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 29/06/2021 28/06/2022 - 1,250,000
0112 Aganagar Branch M/s Afrin Iron Store Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0112 Aganagar Branch M/S. Aziz Steel House Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0112 Aganagar Branch M/s. Khan Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0112 Aganagar Branch Muntaha Trade Int. Ltd. Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
0112 Aganagar Branch M/S. Maa Alifa Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
Sub Total 7,500,000 1,250,000 6,250,000
0113 Gorai Branch Jamuna CNG Station Refinance for SME-Enterpreneur-CMSME 1 Year 2,000,000 31/01/2021 30/01/2022 - 2,000,000
0113 Gorai Branch M/s. Pulok Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0113 Gorai Branch M/s. Alauddin Traders Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 - 150,000
Sub Total 2,400,000 - 2,400,000
0114 Panchabati Branch M//S. Nure Alam Bosro Bitan Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 27/12/2021 27/12/2022 - 500,000
0114 Panchabati Branch M/S Banani Trade Link Refinance for SME-Enterpreneur-CMSME 1 Year 300,000 29/06/2021 28/06/2022 - 300,000
0114 Panchabati Branch M/s. Khan Traders Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 29/06/2021 28/06/2022 - 1,000,000
0114 Panchabati Branch M/s. F R Yarn Trading Refinance for SME-Enterpreneur-CMSME 1 Year 2,000,000 29/06/2021 28/06/2022 - 2,000,000
Sub Total 3,800,000 - 3,800,000
0115 Zirabo Branch Texhill Knitwears Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 17/11/2020 16/11/2021 1,500,000 -
0115 Zirabo Branch Sattar Agro Firm Agri-Working Capital 1.5 Years 3,500,000 21/09/2020 20/03/2022 - 3,500,000
 Annexure-F
Date of Last
Refinance Remaining
Branch- Fund Type Tenor Disbursement Installment Total Principal
Branch-Name Client-Name Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0115 Zirabo Branch Ashulia Steel & Engineering Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 13/01/2021 12/01/2022 - 1,250,000
0115 Zirabo Branch MS. Dewan Traders Refinance for SME-Enterpreneur-CMSME 1 Year 2,000,000 13/01/2021 12/01/2022 - 2,000,000
0115 Zirabo Branch M/s. Keen Accessories Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 29/06/2021 28/06/2022 - 1,250,000
0115 Zirabo Branch Bismillah Hardware Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
Sub Total 10,000,000 1,500,000 8,500,000
0116 Sylhet Branch M/s M.A. Matin And Co. Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 27/12/2021 27/12/2022 - 2,500,000
0116 Sylhet Branch Moula Boksh Karim Boksh Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 27/12/2021 27/12/2022 - 5,000,000
0116 Sylhet Branch M/S. Jamal Ahmed Chowdhury Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 27/12/2021 27/12/2022 - 2,500,000
0116 Sylhet Branch MS. Melenium Foods Women Entrepreneur 5 Years 500,000 10/04/2018 10/10/2021 350,000 150,000
0116 Sylhet Branch Chhatok Lime &Company Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 04/10/2020 03/10/2021 1,500,000 -
0116 Sylhet Branch MS. Labiba Crocaries Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 17/11/2020 16/11/2021 500,000 -
0116 Sylhet Branch MS. Hafiz Trading Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 17/11/2020 16/11/2021 1,000,000 -
0116 Sylhet Branch MS. Shomrat Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 17/11/2020 16/11/2021 1,000,000 -
0116 Sylhet Branch M/s. M.G Suppliers Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 750,000
Sub Total 15,250,000 4,350,000 10,900,000
0117 Nabinagar Branch R.M Poultry Firm. Period Agri-Working Capital 1.5 Years 800,000 15/07/2021 15/01/2023 - 800,000
0117 Nabinagar Branch S.Alam Trade International Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 22/12/2020 22/12/2021 400,000 -
0117 Nabinagar Branch MR. Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0117 Nabinagar Branch Habib Hospital Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 22/12/2020 22/12/2021 2,500,000 -
0117 Nabinagar Branch Haji Dairy Firm Agri 1.5 Years 2,500,000 16/03/2021 16/09/2021 - 2,500,000
0117 Nabinagar Branch Zubair & Brothers Refinance for SME-Enterpreneur-CMSME 1 Year 1,750,000 29/06/2021 28/06/2022 - 1,750,000
0117 Nabinagar Branch M/s. Siam Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0117 Nabinagar Branch M/S. Bhai Bhai Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0117 Nabinagar Branch Infinity Engineering Limited Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
0117 Nabinagar Branch M/S. Bhai Bhai Bostra Bitan Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0117 Nabinagar Branch M/S. Habib CNG Filling Station Refinance for SME-Enterpreneur-CMSME 1 Year 2,250,000 29/06/2021 28/06/2022 - 2,250,000

255
0117 Nabinagar Branch M/s. Harun & Brothers Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
0117 Nabinagar Branch M/S. Asif Traders Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0117 Nabinagar Branch M/s. N.R Traders Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
0117 Nabinagar Branch M/s.Tahmina Electronics Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0117 Nabinagar Branch M/s. Prime Refinance for SME-Enterpreneur-CMSME 1 Year 450,000 29/06/2021 28/06/2022 - 450,000
0117 Nabinagar Branch M/s. Samira Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
0117 Nabinagar Branch M/s. Satata R.C.C. Pipe Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0117 Nabinagar Branch M/S Rokeya Digital Color Lab & Studio Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 29/06/2021 28/06/2022 - 400,000
Sub Total 20,550,000 3,400,000 17,150,000
0118 O.R.Nizam Road Branch Amuchia Agro Ltd Agri-Working Capital 1.5 Years 2,500,000 15/07/2021 15/01/2023 - 2,500,000
0118 O.R.Nizam Road Branch NA-Agro-Firm Agri-Working Capital 1.5 Years 800,000 04/10/2020 04/04/2022 - 800,000
0118 O.R.Nizam Road Branch Galaxy Packagers Refinance for SME-Enterpreneur-CMSME 1 Year 3,750,000 14/10/2020 13/10/2020 3,750,000 -
0118 O.R. Nizam Road Branch Raj Trade Fishing Refinance for SME-Enterpreneur-CMSME 1 Year 3,500,000 17/11/2020 16/11/2021 3,500,000 -
 Annexure-F
Date of Last
Refinance Remaining
Branch- Fund Type Tenor Disbursement Installment Total Principal
Branch-Name Client-Name Amount/Principal
Code by Bangladesh Payment Date Paid Principal
Amount
Bank
0118 O.R. Nizam Road Branch MS. Rupchanda Suppliers Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 17/11/2020 16/11/2021 2,500,000 -
0118 O.R. Nizam Road Branch MS.Abdul Soban and Sons Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 17/11/2020 16/11/2021 2,500,000 -
0118 O.R. Nizam Road Branch MS. Asma shopping Center Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 17/11/2020 16/11/2021 5,000,000 -
0118 O.R. Nizam Road Branch M/s. M M Ship Breaking Industries Large Industries & Services 1 Year 5,000,000 29/12/2020 29/12/2021 5,000,000 -
0118 O.R.Nizam Road Branch Hasnain Travel & Tours Refinance for SME-Enterpreneur-CMSME 1 Year 1,875,000 22/12/2020 22/12/2021 1,875,000 -
0118 O.R.Nizam Road Branch Brothers LPG Refinance for SME-Enterpreneur-CMSME 1 Year 4,500,000 22/12/2020 22/12/2021 4,500,000 -
0118 O.R.Nizam Road Branch Royal Air Force Refinance for SME-Enterpreneur-CMSME 1 Year 300,000 22/12/2020 22/12/2021 300,000 -
0118 O.R.Nizam Road Branch Gen Air Technology Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 22/12/2020 22/12/2021 2,500,000 -
0118 O.R.Nizam Road Branch Zonaied Accessories Industries Refinance for SME-Enterpreneur-CMSME 1 Year 1,800,000 31/01/2021 30/01/2022 - 1,800,000

256
0118 O.R.Nizam Road Branch J.K.S Textile & Accessories Refinance for SME-Enterpreneur-CMSME 1 Year 1,125,000 31/01/2021 30/01/2022 - 1,125,000
0118 O.R.Nizam Road Branch Sparkle Packaging Industries Limited" Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 31/01/2021 30/01/2022 - 1,250,000
0118 O.R.Nizam Road Branch Impulse Properties Limited Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 31/01/2021 30/01/2022 - 2,500,000
Sub Total 41,400,000 31,425,000 9,975,000
0119 Barisal Branch Nisha Poultry Feed Agri-Working Capital 1.5 Years 2,500,000 19/07/2020 19/07/2022 - 2,500,000
0119 Barisal Branch Sangathita Gramunnayan Karmasuchi Low-Income Professional 1.5 Years 120,000,000 24/09/2020 24/09/2022 120,000,000 -
0119 Barisal Branch MS.. Jashim Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 14/10/2020 13/10/2020 750,000 -
0119 Barisal Branch Khokon Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 04/10/2020 03/10/2021 250,000 -
0119 Barishal Branch MS. Sazib Trading Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 17/11/2020 16/11/2021 500,000 -
0119 Barishal Branch MS. Siam Trading Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 17/11/2020 16/11/2021 500,000 -
0119 Barisal Branch Sangathita Gramunnayan Karmasuchi Low-Income Professional 1 Year 120,000,000 29/12/2020 29/12/2021 120,000,000 -
0119 Barishal Branch MS. Hamim General Store Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0119 Barishal Branch MS. Amin Corporation Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 22/12/2020 22/12/2021 1,000,000 -
0119 Barishal Branch MS. National Trading Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 22/12/2020 22/12/2021 1,250,000 -
0119 Barisal Branch M/s. Ismail Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 29/06/2021 28/06/2022 - 400,000
0119 Barisal Branch M/s. Promise Steel Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
Sub Total 248,150,000 244,750,000 3,400,000
0120 Rajshahi Branch New Gold Palace Women Entrepreneur 1 Year 1,500,000 03/02/2020 04/02/2021 1,500,000 -
0120 Rajshahi Branch Hamim Fisheries Agri-Working Capital 1.5 Years 800,000 22/06/2020 22/12/2021 - 800,000
0120 Rajshahi Branch Milon Fisheries Agri-Working Capital 1.5 Years 1,000,000 22/06/2020 22/12/2021 - 1,000,000
0120 Rajshahi Branch Zaman Agro Agri-Working Capital 1.5 Years 400,000 20/08/2020 20/01/2022 400,000
0120 Rajshahi Branch Jamuna Edible Oil Industries Ltd Unit-02 Large Industries & Services 1 Year 39,890,000 29/11/2020 28/11/2021 39,890,000 -
0120 Rajshahi Branch Hossain Enterprise Large Industries & Services 1 Year 2,495,000 29/11/2020 28/11/2021 2,495,000 -
0120 Rajshahi Branch MS. Md. Abdul Kaiyum Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 04/10/2020 03/10/2021 750,000 -
0120 Rajshahi Branch Jamuna Edible Oil Industries Ltd Unit - 02 Large Industries & Services 1 Year 109,986 29/12/2020 29/12/2021 109,986 -
0120 Rajshahi Branch Hossain Enterprise Large Industries & Services 1 Year 3,437 29/12/2020 29/12/2021 3,437 -
0120 Rajshahi Branch M/s.Taiba Sharee Fashion Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0120 Rajshahi Branch M/s. Tasnim Traders Refinance for SME-Enterpreneur-CMSME 1 Year 3,000,000 29/06/2021 28/06/2022 - 3,000,000
Sub Total 50,198,423 44,748,423 5,450,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0121 Banani Branch Rafi Woven Bags Industries Limited Large Industries & Services 1 Year 2,500,000 30/09/2020 30/09/2021 2,500,000 -
0121 Banani Branch Rafi Woven Bags Industries Limited Large Industries & Services 1 Year 7,500,000 30/09/2020 30/09/2021 7,500,000 -
0121 Banani Branch Aleya Feeds Limited Large Industries & Services 1 Year 21,250,000 29/11/2020 28/11/2021 21,250,000 -
0121 Banani Branch Md. Rashaduzzaman Large Industries & Services 1 Year 18,000,000 29/11/2020 28/11/2021 18,000,000 -
0121 Banani Branch South Bengal Interna�onal Trading Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 14/10/2020 13/10/2021 5,000,000 -
0121 Banani Branch Medicon Pharmaceu�cals Limited Refinance for SME-Enterpreneur-CMSME 1 Year 10,000,000 17/11/2020 16/11/2021 10,000,000 -
0121 Banani Branch MSK Shipmanagement and Chartering Limited Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 17/11/2020 16/11/2021 1,000,000 -
0121 Banani Branch General Agro Chemicals Limited Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 17/11/2020 16/11/2021 5,000,000 -
0121 Banani Branch Computer Network Systems Limited Large Industries & Services 1 Year 75,000,000 29/12/2020 29/12/2021 75,000,000 -
0121 Banani Branch RHS EPC Limited Large Industries & Services 1 Year 7,500,000 29/12/2020 29/12/2021 7,500,000 -
0121 Banani Branch Aleya Feeds Limited Large Industries & Services 1 Year 3,750,000 29/12/2020 29/12/2021 3,750,000 -
0121 Banani Branch Md. Rashaduzzaman Large Industries & Services 1 Year 17,000,000 29/12/2020 29/12/2021 17,000,000 -
0121 Banani Branch Shahin Enterprise Printers Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 31/01/2021 30/01/2022 - 2,500,000
0121 Banani Branch Unicom Electronics Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 13/01/2021 12/01/2022 - 2,500,000
0121 Banani Branch Harmonics Power Limited Refinance for SME-Enterpreneur-CMSME 1Year 1,500,000 29/06/2021 28/06/2022 - 1,500,000
Sub Total 180,000,000 173,500,000 6,500,000
0122 Naogaon Branch Tarafder Modsho Khamar Agri-Working Capital 1.5 Years 7,000,000 15/07/2021 15/01/2023 - 7,000,000
0122 Naogaon Branch Al-Raji-Trading Women Entrepreneur 1 Year 5,000,000 03/02/2020 03/02/2021 5,000,000 -
0122 Naogaon Branch Al Razi Chaul Kal Refinance for SME-Enterpreneur-CMSME 1 Year 4,500,000 14/10/2020 13/10/2020 4,500,000 -
0122 Naogaon Branch MS. Jan Mohammad Molla Automa�c Rice Mill Refinance for SME-Enterpreneur-CMSME 1 Year 12,500,000 17/11/2020 16/11/2021 12,500,000 -
0122 Naogaon Branch Molla Firms Agri-Working Capital 1.5 Years 600,000 29/12/2020 29/06/2022 - 600,000
0122 Naogaon Branch Palli Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0122 Naogaon Branch MS. Shaha Chaul Kall Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 22/12/2020 22/12/2021 1,500,000 -
0122 Naogaon Branch Sonali Auto Rice Mills Limited Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 22/12/2020 22/12/2021 5,000,000 -
0122 Naogaon Branch MS. Sa�ar Au- Chaul Kall Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 22/12/2020 22/12/2021 5,000,000 -
0122 Naogaon Branch Sagor Corpora�on Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 31/01/2021 30/01/2022 - 500,000
0122 Naogaon Branch Shamrat Traders Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 31/01/2021 30/01/2022 - 500,000

257
0122 Naogaon Branch MS. D.K Traders Refinance for SME-Enterpreneur-CMSME 1 Year 300,000 13/01/2021 12/01/2022 - 300,000
0122 Naogaon Branch MS. New Satata Rice Agency Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 13/01/2021 12/01/2022 - 500,000
0122 Naogaon Branch Ohi Ba�ery Refinance for SME-Enterpreneur-CMSME 1 Year 350,000 29/06/2021 28/06/2022 - 350,000
0122 Naogaon Branch Friends Fi�ng Center Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0122 Naogaon Branch New Raju Ba�ery Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0122 Naogaon Branch M/S Unique Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
Sub Total 45,000,000 34,000,000 11,000,000
0123 Ekuria Branch MS Raju Trading Corpora�on Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 17/11/2020 16/11/2021 1,500,000 -
0123 Ekuria Branch MS. karnapholly Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 13/01/2021 12/01/2022 - 750,000
Sub Total 2,250,000 1,500,000 750,000
0124 Chatkhil Branch M/s. Sohag Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 27/12/2021 27/12/2022 - 250,000
0124 Chatkhil Branch M/S Ripon Shari Bitan Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 27/12/2021 27/12/2022 - 150,000
0124 Chatkhil Branch MRP Modsho Khamar Agri-Working Capital 1.5Years 500,000 15/07/2021 15/01/2023 - 500,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0124 Chatkhil Branch Midul Dairy Agri-Working Capital 1.5Years 800,000 20/08/2020 20/01/2022 - 800,000
0124 Chatkhil Branch Nirman Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 14/10/2020 13/10/2021 1,000,000 -
0124 Chatkhil Branch Jahanara Traders Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 14/10/2020 13/10/2021 750,000 -
0124 Chatkhil Branch MS.. Belal Traders Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 14/10/2020 13/10/2021 500,000 -
0124 Chatkhil Branch MS. Mohammadia Mini Bazar Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 04/10/2020 03/10/2021 1,000,000 -
0124 Chatkhil Branch Selim Traders-Period Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 04/10/2020 03/10/2021 400,000 -
0124 Chatkhil Branch Mim Electric and Mohile Fair Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 04/10/2020 03/10/2021 250,000 -
0124 Chatkhil Branch Chowdhury Garments Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 04/10/2020 03/10/2021 1,000,000 -
0124 Chatkhil Branch New Shari Galler Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 04/10/2020 03/10/2021 250,000 -
0124 Chatkhil Branch MS Kamal Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 17/11/2020 16/11/2021 250,000 -

258
0124 Chatkhil Branch Wadud Poultry And Fish Feed Center Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 17/11/2020 16/11/2021 150,000 -
0124 Chatkhil Branch Jam Jam Agro Agri-Working Capital 1.5 Years 1,000,000 17/09/2020 16/03/2022 - 1,000,000
0124 Chatkhil Branch Kamrul Mobile Center Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 22/12/2020 22/12/2021 150,000 -
0124 Chatkhil Branch Nokshi Bangla Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 22/12/2020 22/12/2021 150,000 -
0124 Chatkhil Branch MS. Faruk Hardware Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 22/12/2020 22/12/2021 250,000 -
Sub Total 8,800,000 6,100,000 2,700,000
0125 Panchaba� Branch Bhai Bhai Fish & Poultry Firm Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
Sub Total 300,000 - 300,000
0125 Chandragonj Branch Soudia Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 225,000 14/10/2020 13/10/2021 225,000 -
0125 Chandragonj Branch MS. Monoroma Cloth Store Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 14/10/2020 13/10/2021 500,000 -
0125 Chandraganj Branch Choice Full Gallery Refinance for SME-Enterpreneur-CMSME 1 Year 195,000 17/11/2020 16/11/2021 195,000 -
0125 Chandraganj Branch MS. Nahar Traders Refinance for SME-Enterpreneur-CMSME 1 Year 2,000,000 17/11/2020 16/11/2021 2,000,000 -
0125 Chandraganj Branch MS. Rai Mohon Bhuya Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 17/11/2020 16/11/2021 750,000 -
0125 Chandraganj Branch MS. Nil Achal Cloth Store Refinance for SME-Enterpreneur-CMSME 1 Year 200,000 17/11/2020 16/11/2021 200,000 -
0125 Chandragonj Branch Kazi Dairy & Fisheries Agri-Working Capital 1.5 Years 450,000 15/09/2020 14/03/2022 - 450,000
0125 Chandragonj Branch MS. Milon Confec�oary Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 22/12/2020 22/12/2021 150,000 -
0125 Chandragonj Branch MS. Selim Traders Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0125 Chandragonj Branch Lal Nil Beguni Sharee Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 22/12/2020 22/12/2021 150,000 -
0125 Chandragonj Branch MS. Hannan Electric Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 22/12/2020 22/12/2021 750,000 -
0125 Chandragonj Branch Modsho Khamar Agri-Working Capital 1.5 Years 200,000 01/12/2020 31/05/2022 - 200,000
Sub Total 6,070,000 5,420,000 650,000
0126 Borodighirpar Branch Zam Zam Poultry and Hatchery Agri-Working Capital 1.5 Years 1,500,000 19/07/2020 19/01/2023 - 1,500,000
0126 Borodighirpar Branch MS.. Mack Construc�on Refinance for SME-Enterpreneur-CMSME 1 Year 3,000,000 14/10/2020 13/10/2021 3,000,000 -
0126 Borodighirpar Branch MS. Medical Centre Refinance for SME-Enterpreneur-CMSME 1 Year 10,000,000 17/11/2020 16/11/2021 10,000,000 -
Sub Total 14,500,000 13,000,000 1,500,000
0127 Zirani Bazar Branch M/s. Emu Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0127 Zirani Bazar Branch M/s. M.S. Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0127 Zirani Bazar Branch Nasir Uddin Medical Center Refinance for SME-Enterpreneur-CMSME 1 Year 375,000 29/06/2021 28/06/2022 - 375,000
0127 Zirani Bazar Branch M/s. Joy Pharmacy Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0127 Zirani Bazar Branch M/s. Aslam Trading Corpora�on Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 29/06/2021 28/06/2022 - 1,500,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0127 Zirani Bazar Branch Satata Sanitary and Tiles Corner Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
Sub Total 5,625,000 - 5,625,000
0128 Narayangonj M/S. Kamal Traders Refinance for SME-Enterpreneur-CMSME 1 Year 900,000 29/06/2021 28/06/2022 - 900,000
0128 Narayangonj R. B. Knitwears Limited Covid-19-S�mulus 1.5 Years 3,040,936 07/06/2020 21/12/2021 706,094 2,334,842
0128 Narayangonj Chisty-Tex Apparels Limited Covid-19-S�mulus 1.5 Years 2,305,000 07/06/2020 21/12/2021 455,309 1,849,691
0128 Narayangonj R.B-Knitwears Limited Covid-19-S�mulus 1.5 Year 4,110,142 28/04/2020 21/12/2021 706,094 3,404,048
0128 Narayangonj ChistyTex Apparels Limited Covid-19-S�mulus 1.5 Year 2,305,042 28/04/2020 21/12/2021 455,309 1,849,733
0128 Narayangonj RB Knitwears Limited Large Industries & Services 1 Year 2,050,198 09/09/2020 09/09/2021 - 2,050,198
0128 Narayangonj Chistytex & Apparels Limited Large Industries & Services 1 Year 1,152,500 09/09/2020 09/09/2021 256,111 896,389
0128 Narayangonj Chistytex & Apparels Limited Large Industries & Services 1 Year 1,152,500 09/09/2020 09/09/2021 256,111 896,389
0128 Narayangonj RB Knitwears Limited Large Industries & Services 1 Years 2,050,000 09/09/2020 09/09/2021 794,356 1,255,644
0128 Narayangonj Chisty AG Fan Manufacturing Ind. Limited Large Industries & Services 1 Years 29,499,938 30/09/2020 30/09/2021 29,499,938 -
0128 Narayangonj Dawat Holidays Limited Large Industries & Services 1 Year 3,000,000 30/09/2020 30/09/2021 3,000,000 -
0128 Narayangonj Chistytex & Apparels Limited Large Industries & Services 1 Year 3,750,000 30/09/2020 30/09/2021 3,750,000 -
0128 Narayangonj R B Knitwears Limited Large Industries & Services 1 Year 4,500,000 29/11/2020 28/11/2021 4,500,000 -
0128 Narayangonj Sahara Trading Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 04/10/2020 03/10/2021 750,000 -
Sub Total 60,566,255 45,129,322 15,436,933
0129 Mirpur Branch M/s. R.P Fashion Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
0129 Mirpur Branch Center for Community Development Low-Income Professional 1.5 Year 88,260,000 20/09/2020 20/06/2021 88,260,000 -
0129 Mirpur Branch Center for Community Development Low-Income Professional 1.5 Year 50,000,000 20/09/2020 20/06/2021 50,000,000 -
0129 Mirpur Branch Center for Community Development Low-Income Professional 1.5 Year 61,740,000 31/08/2020 02/06/2021 61,740,000 -
0129 Mirpur Branch Center for Community Development Low-Income Professional 1.5 Year 95,616,000 04/05/2021 04/11/2023 31,872,000 63,744,000
0129 Mirpur Branch Center for Community Development Low-Income Professional 1 Year 24,384,000 21/06/2021 21/06/2022 8,128,000 16,256,000
0129 Mirpur Branch Max Infrustructure Limited Large Industries & Services 1 Year 13,500,000 29/12/2020 29/12/2021 13,500,000 -
0129 Mirpur Branch M.R. Trading Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 31/01/2021 30/01/2022 - 2,500,000
0129 Mirpur Branch BD Tech Solu�on Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 31/01/2021 30/01/2022 - 250,000
Sub Total 338,750,000 253,500,000 85,250,000

259
0130 Rangpur Branch Home Firm Care Agrovent Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
0130 Rangpur Branch Tahmid Goru Khamar Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
0130 Rangpur Branch M/s. Islam & Sons Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
0130 Rangpur Branch Abida Krishi Khamar Agri-Working Capital 1.5 Year 200,000 01/12/2020 31/05/2022 - 200,000
Sub Total 1,550,000 - 1,550,000
0131 Khulna Branch M/s. Syam Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 350,000 27/12/2021 27/12/2021 - 350,000
0131 Khulna Branch Rana Thai Alluminium Refinance for SME-Enterpreneur-CMSME 1 Year 100,000 27/12/2021 27/12/2021 - 100,000
0131 Khulna Branch MS.. Salam Trading Corporation Refinance for SME-Enterpreneur-CMSME 1 Year 2,000,000 04/10/2020 03/10/2021 2,000,000 -
0131 Khulna Branch Amisha Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 17/11/2020 16/11/2021 1,500,000 -
0131 Khulna Branch Brand Newer Refinance for SME-Enterpreneur-CMSME 1 Year 112,500 31/01/2021 30/01/2022 - 112,500
0131 Khulna Branch Farmland poultry Agency Refinance for SME-Enterpreneur-CMSME 1 Year 450,000 31/01/2021 30/01/2022 - 450,000
0131 Khulna Branch Bengal Enterprise Agency Refinance for SME-Enterpreneur-CMSME 1 Year 350,000 31/01/2021 30/01/2022 - 350,000
Sub Total 4,862,500 3,500,000 1,362,500
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0132 Raozan Branch M/S. Manzira Corpora�on Refinance for SME-Enterpreneur-CMSME 1 Year 25,000,000 27/12/2021 27/12/2022 25,000,000 -
0132 Raozan Branch K. Alam Agro Agri-Working Capital 1.5 Years 500,000 15/07/2021 15/01/2023 - 500,000
0132 Raozan Branch Ma Moni K and D Store Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 - 150,000
0132 Raozan Branch M/S. Sanowara Trading Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0132 Raozan Branch MS.Mazada Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 17/11/2020 16/11/2021 500,000 -
Sub Total 26,650,000 500,000 26,150,000
0133 Horirampur Branch Navid Poultry and Dairy Firm Agri-Working Capital 1.5 Years 10,000,000 06/09/2021 06/09/2023 - 10,000,000
0133 Horirampur Branch M/s. Jase Motors Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0133 Horirampur Branch M/S. Yusuf and Brothers Refinance for SME-Enterpreneur-CMSME 1 Year 600,000 29/06/2021 28/06/2022 - 600,000
0133 Harirampur Branch Elham Fashion Limited Covid-19-S�mulus 1.5 Years 9,747,844 07/06/2020 21/12/2021 1,958,207 7,789,637

260
0133 Harirampur Branch Elham Fashion Limited Covid-19-S�mulus 1.5 Years 10,079,314 28/04/2020 21/12/2021 1,958,207 8,121,107
0133 Harirampur Branch Elham Fashions Limited Large Industries & Services 1 Year 5,035,922 09/09/2020 09/09/2021 1,101,491 3,934,431
0133 Harirampur Branch Elham Fashions Limited Large Industries & Services 1 Year 5,022,383 09/09/2020 09/09/2021 1,101,491 3,920,892
0133 Horirampur Branch Nabid Poultry & Agro Firm Agri-Working Capita 1.5 Years 10,000,000 09/11/2021 09/05/2023 - 10,000,000
Sub Total 50,985,463 6,119,396 44,866,067
0134 Mainamo� Branch Rashid Poultry Dairy Agri-Working Capital 1.5 Years 1,000,000 15/07/2021 15/01/2023 - 1,000,000
0134 Mainamo� Branch AAA Dairy Firm-Period Agri-Working Capital 1.5 Years 1,000,000 15/07/2021 15/01/2023 - 1,000,000
0134 Mainamo� Branch M/S. A.B. & Brothers Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0134 Mainamo� Branch MS. AL Amin Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 17/11/2020 16/11/2021 500,000 -
0134 Mainamo� Branch Hotel Miami (Private) Limited Refinance for SME-Enterpreneur-CMSME 1 Year 3,000,000 22/12/2020 22/12/2021 3,000,000 -
0134 Mainamo� Branch Blue Water Park Refinance for SME-Enterpreneur-CMSME 1 Year 375,000 22/12/2020 22/12/2021 375,000 -
0134 Mainamo� Branch MS. Miami Au-mobiles Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 22/12/2020 22/12/2021 2,500,000 -
0134 Mainamo� Branch MS. Mostafa Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
Sub Total 9,375,000 6,875,000 2,500,000
0135 Munshibazar Abu Bakar Poultry Feed & Chicks Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 14/10/2020 13/10/2021 150,000 -
Sub Total 150,000 150,000 -
0136 Sylhet Uposhahor Branch M/s. Rafi Engineering Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0136 Sylhet Uposhahor Branch M/s. R S Traders Refinance for SME-Enterpreneur-CMSME 1 Year 350,000 29/06/2021 28/06/2022 - 350,000
Sub Total 850,000 - 850,000
0137 Jubilee Road Branch KDA-Motors Refinance for SME-Enterpreneur-CMSME 1 Year 3,000,000 14/10/2020 13/10/2021 3,000,000 -
0137 Jubilee Road Branch Fatema Chayera Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 17/11/2020 16/11/2021 1,500,000 -
0137 Jubilee Road Branch MS. Jahin Marine Service Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 17/11/2020 16/11/2021 1,000,000 -
0137 Jubilee Road Branch Dairy Farm Agri-Working Capital 1.5 Years 5,000,000 01/12/2020 31/05/2022 - 5,000,000
Sub Total 10,500,000 5,500,000 5,000,000
0138 Inderhat Branch M/s. Sanfa Saw Mill & Door Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 27/12/2021 27/12/2022 - 750,000
0138 Inderhat Branch M/S Jani Timber and Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 27/12/2021 27/12/2022 - 250,000
0138 Indurhat Branch M/S Rakib Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 27/12/2021 27/12/2022 - 500,000
0138 Inderhat Branch Mitali Modsho & Poultry Firm Agri-Working Capital 1.5 Years 500,000 15/07/2021 15/01/2023 - 500,000
0138 Inderhat Branch M/s. Dider Bread and Biscuit Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0138 Inderhat Branch M/s. Modern Furniture Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0138 Indurhat Branch Al-Falah Nursury Agri-Working Capital 1.5 Years 400,000 08/09/2020 07/03/2022 - 400,000
0138 Indurhat Branch Tamanna Motsho & Poultry Firm Agri-Working Capital 1.5 Years 400,000 24/09/2020 23/03/2022 - 400,000
Sub Total 3,300,000 - 3,300,000
0139 Nayabazar Branch Shah-Alam Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0139 Nayabazar Branch Tiger Corpora�on Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 29/06/2021 28/06/2022 - 5,000,000
0139 Nayabazar Branch Atashi Fashion Limited Covid-19-S�mulus 1.5 Years 2,885,000 07/06/2020 21/12/2021 569,877 2,315,123
0139 Nayabazar Branch Atashi Fashion Limited Covid-19-S�mulus 1.5 Years 2,885,018 28/04/2020 21/12/2021 569,877 2,315,141
0139 Nayabazar Branch Atashi Fashion Limited Large Industries & Services 1 Year 1,442,500 09/09/2020 09/09/2021 320,556 1,121,944
0139 Nayabazar Branch Atashi Fashion Limited Large Industries & Services 1 Year 1,442,500 09/09/2020 09/09/2021 320,556 1,121,944
0139 Nayabazar Branch MS.. Jhinu Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 14/10/2020 13/10/2021 2,500,000 -
0139 Nayabazar Branch Bay Poly and Packaging Limited Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 17/11/2020 16/11/2021 7,500,000 -
0139 Nayabazar Branch Bonito Bu�onIndustries limited Refinance for SME-Enterpreneur-CMSME 1 Year 7,500,000 17/11/2020 16/11/2021 7,500,000 -
0139 Nayabazar Branch Megh Dubi Agro Agri-Working Capital 1.5 Years 8,000,000 19/07/2020 19/01/2023 - 8,000,000
0139 Nayabazar Branch Pacific Consumer Goods Ltd. Large Industries & Services 1 Year 10,000,000 29/12/2020 29/12/2021 10,000,000 -
0139 Nayabazar Branch Dhansiri Paper House Refinance for SME-Enterpreneur-CMSME 1 Year 225,000 31/01/2021 30/01/2022 225,000
Sub Total 49,880,018 29,280,864 20,599,154
0140 Bhulta Branch Redoyan Ca�les & Dairy Firm Agri-Working Capital 1.5 Years 500,000 06/09/2021 06/09/2023 - 500,000
0140 Bhulta Branch Haque Modsho &Hatchery Prokolpo Agri-Working Capital 1.5 Years 200,000 15/07/2021 15/01/2023 - 200,000
0140 Bhulta Branch Raisa Three Piece Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0140 Bhulta Branch M/s. Janna� Three Piece Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0140 Bhulta Branch M/S. Madina Fabrics Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 - 150,000
0140 Bhulta Branch M/s. Trust Infinity Firms Bangladesh Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0140 Bhulta Branch M/s. Maa Three Piece Centre Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0140 Bhulta Branch Bijoy Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0140 Bhulta Branch Hazi Bastra Bitan Refinance for SME-Enterpreneur-CMSME 1 Year 300,000 29/06/2021 28/06/2022 - 300,000
0140 Bhulta Branch Runa Fashion Women Entrepreneur 5 Years 500,000 04/01/2018 04/10/2020 375,000 125,000
0140 Bhulta Branch Runa Fashion Women Entrepreneur 1 Year 1,500,000 03/02/2020 03/02/2021 1,500,000 -

261
0140 Bhulta Branch MS. Khadiza Dyeing Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 13/01/2021 12/01/2022 - 400,000
0140 Bhulta Branch Tarin Fashion Refinance for SME-Enterpreneur-CMSME 1 Year 300,000 13/01/2021 12/01/2022 - 300,000
0140 Bhulta Branch MS. Sumaiya Poultry Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 13/01/2021 12/01/2022 - 250,000
Sub Total 5,350,000 1,875,000 3,475,000
0141 Pulhat Branch Rabiul Fisheries Agri-Working Capital 1.5 Years 500,000 06/09/2021 06/09/2023 - 500,000
0141 Pulhat Branch Rashed Fisheries Agri-Working Capital 1.5 Years 500,000 15/07/2021 15/01/2023 - 500,000
0141 Pulhat Branch M/S. Priyo Traders Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 29/06/2021 28/06/2022 - 1,000,000
0141 Pulhat Branch M/s. Pulhat Katari Vander Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0141 Pulhat Branch MS. Rana-Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 14/10/2020 13/10/2021 250,000 -
Sub Total 2,750,000 250,000 2,500,000
0142 Madhobdi Branch Hazi Obaidullah Tex�le Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 29/06/2021 28/06/2022 - 1,500,000
0142 Madhobdi Branch M/s Mithi Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0142 Madhobdi Branch M/s. Jalal Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0142 Madhobdi Branch M/S Eva Fabrics & Tex�le Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0142 Madhobdi Branch M/s. Abul Kashem Tex�le Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0142 Madhobdi Branch A.T.Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 31/01/2021 30/01/2022 - 500,000
Sub Total 3,250,000 - 3,250,000
0143 Bhuigar Branch Muslim Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
Sub Total 2,500,000 - 2,500,000
0144 Ha�rpool Branch Mouna Jute Mills Limited Covid-19-S�mulus 1.5 Years 3,377,890 07/06/2020 21/12/2021 638,899 2,738,991
0144 Ha�rpool Branch Mouna Jute Mills Limited Covid-19-S�mulus 1.5 Years 3,377,890 28/04/2020 21/12/2021 638,899 2,738,991
0144 Ha�rpool Branch Mouna Jute Mills Limited Large Industries & Services 1Year 9,909,989 09/09/2020 09/09/2021 - 9,909,989
0144 Ha�rpool Branch Mouna Jute Mills Limited Large Industries & Services 1 Year 1,688,945 09/09/2020 09/09/2021 359,381 1,329,564
359,381 1,243,019

262
0144 Ha�rpool Branch Mouna Jute Mills Limited Large Industries & Services 1 Year 1,602,400 09/09/2020 09/09/2021
0144 Ha�rpool Branch Ajmeer Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 14/10/2020 13/10/2021 2,500,000 -
0144 Ha�rpool Branch Bath Care Limited Refinance for SME-Enterpreneur-CMSME 1 Year 15,000,000 04/10/2020 03/10/2021 15,000,000 -
0144 Ha�rpool Branch Royal Marble Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 17/11/2020 16/11/2021 1,000,000 -
0144 Ha�rpool Branch MS S.S Tex�le Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 17/11/2020 16/11/2021 2,500,000 -
0144 Ha�rpool Branch MS. Best Bath Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 17/11/2020 16/11/2021 1,000,000 -
0144 Ha�rpool Branch Angira Electronic Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 31/01/2021 30/01/2022 - 2,500,000
Sub Total 44,457,114 23,996,560 20,460,554
0145 Charabagh Branch Mart Knit Fabrics Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 27/12/2021 27/12/2022 - 500,000
Sub Total 500,000 - 500,000
0146 Bogra Branch M/s. Rokib Traders Refinance for SME-Enterpreneur-CMSME 1 Year 100,000 29/06/2021 28/06/2022 - 100,000
0146 Bogra Branch MS. Surob Moulding & Engineening Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 22/12/2020 22/12/2021 1,000,000 -
0146 Bogra Branch MS. Surob Iron Store Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
0146 Bogra Branch Dream Agro Farm Agri-Working Capital 1.5 Years 500,000 01/12/2020 31/05/2022 - 500,000
0146 Bogra Branch Islam Engineering Workshop Refinance for SME-Enterpreneur-CMSME 1 Year 3,000,000 31/01/2021 30/01/2022 - 3,000,000
0146 Bogra Branch Jihad Motors Refinance for SME-Enterpreneur-CMSME 1 Year 50,000 31/01/2021 30/01/2022 - 50,000
Sub Total 5,150,000 1,500,000 3,650,000
0147 Gazipur Chowrasta Branch M/S. Fatema Traders Refinance for SME-Enterpreneur-CMSME 1 Year 350,000 29/06/2021 28/06/2022 - 350,000
0147 Gazipur Chowrasta Branch M/s. Maksuda Rice Agency Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 - 150,000
0147 Gazipur Chowrasta Branch Sale Point Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 17/11/2020 16/11/2021 1,500,000 -
0147 Gazipur Chowrasta Branch Color Zone Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 22/12/2020 22/12/2021 250,000 -
Sub Total 2,250,000 1,750,000 500,000
0148 Hatgopalpur Branch Abdul Zabbar Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
0148 Hatgopalpur Branch Modina Paper Kids Manufacture Co. Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
0148 Hatgopalpur Branch Socio Economic Health Educa�on- Low-Income Professional 1.5 Years 24,430,000 20/09/2020 20/03/2022 24,430,000 -
0148 Hatgopalpur Branch Socio Economic Health Educa�on- Low-Income Professional 1.5 Years 73,290,000 25/08/2020 25/08/2021 73,290,000 -
0148 Hatgopalpur Branch MS. Brothers Au Refinance for SME-Enterpreneur-CMSME 1 Year 300,000 22/12/2020 22/12/2021 300,000 -
0148 Hatgopalpur Branch MS. Mondal Traders Refinance for SME-Enterpreneur-CMSME 1 Year 600,000 22/12/2020 22/12/2021 600,000 -
Sub Total 99,670,000 98,620,000 1,050,000
0149 Feni Branch Bhuiyan & Sons Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 04/10/2020 03/10/2021 2,500,000 -
0149 Feni Branch MS. Latu Mia &Sons Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 22/12/2020 22/12/2021 2,500,000 -
0149 Feni Branch Haque and Sons Printers Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 31/01/2021 30/01/2022 - 250,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0149 Feni Branch MS. Rani Agro Agri 1.5 Years 2,000,000 16/03/2021 16/09/2020 - 2,000,000
Sub Total 7,250,000 5,000,000 2,250,000
0150 Chandina Branch Rahman Fisheries &Poultry Firm Agri-Working Capital 1.5 Years 500,000 15/07/2021 15/01/2023 - 500,000
0150 Chandina Branch Adil Poultry Firm Agri-Working Capital 1.5 Years 500,000 15/07/2021 15/01/2023 - 500,000
0150 Chandina Branch M/s. Mizan Workshop & Steel Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0150 Chandina Branch M/s. Mostafa S S Thai and Glass House Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0150 Chandina Branch M/s. Mahabub Electric & Electronics Refinance for SME-Enterpreneur-CMSME 1 Year 1 50,000 29/06/2021 28/06/2022 - 150,000
0150 Chandina Branch Black Stone Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 17/11/2020 16/11/2021 150,000 -
0150 Chandina Branch MS. Madina Traders Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 22/12/2020 22/12/2021 250,000 -
0150 Chandina Branch MS.S. Ali Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 2 2/12/2020 22/12/2021 250,000 -
0150 Chandina Branch Oyshi Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 1 3/01/2021 12/01/2022 - 250,000
0150 Chandina Branch Hazi Ali Mobile Mart Refinance for SME-Enterpreneur-CMSME 1 Year 50,000 13/01/2021 12/01/2022 - 50,000
Sub Total 2,600,000 650,000 1,950,000
0151 Dhanmondi Mohila Branch Wave Founda�on Low-Income Professional 1.5 Years 1 59,999,000 09/07/2020 06/06/2021 159,999,000 -
0151 Dhanmondi Mohila Branch Wave Founda�on Low-Income Professional 9 Months 156,528,000 06/12/2020 06/09/2021 156,528,000 -
0151 Dhanmondi Mohila Branch Wave Founda�on Low-Income Professional 9 Months 3,473,000 29/12/2020 29/09/2021 3,473,000 -
Sub Total 20,000,000 320,000,000 -
0152 Mymensingh Branch Bai-Von-Fisheries Agri-Working Capital 1.5 Years 1,000,000 04/10/2020 04/04/2022 - 1,000,000
0152 Mymensingh Lamia Modsho Khamar Agri 1.5 Years 500,000 16/03/2021 16/09/2020 - 500,000
Sub Total 1,500,000 - 1,500,000
0154 Imamgonj Branch M/S. Miah Corpora�on Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 - 150,000
0154 Imamgonj Branch Halim Screen Printers Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 13/01/2021 12/01/2022 - 1,250,000
Sub Total 1,400,000 - 1,400,000
0155 Laksam Branch Hoque Trading Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 17/11/2020 16/11/2021 250,000 -
Sub Total 250,000 250,000 -
0156 Araihajar Branch Abdul Baten Tex�le Refinance for SME-Enterpreneur-CMSME 1 Year 150,000 29/06/2021 28/06/2022 - 150,000
Sub Total 150,000 - 150,000

263
0158 Tongi Branch Chitra Packaging Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 14/10/2020 13/10/2021 1,500,000 -
Sub Total 1,500,000 1,500,000 -
0159 Bateshwar Branch Metropolitan University Refinance for SME-Enterpreneur-CMSME 1 Year 5,000,000 27/12/2021 27/12/2022 - 5,000,000
Sub Total 5,000,000 - 5,000,000
0160 Bhairab Branch Madhobi Enterprise Agri-Working Capital 1.5 Years 20,000,000 06/09/2021 06/09/2023 - 20,000,000
0160 Bhairab Branch Zishan Pultry & Dairy Firm Agri-Working Capital 1.5 Years 500,000 02/12/2020 02/06/2023 - 500,000
0160 Bhairab Branch MS. Aparupa Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 22/12/2020 22/12/2021 500,000 -
Sub Total 21,000,000 500,000 20,500,000
0161 Hathazari Branch M/s. Chowdhury Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 2,500,000 29/06/2021 28/06/2022 - 2,500,000
Sub Total 2,500,000 - 2,500,000
0162 Gopalgonj Branch Tushar Dairy Firm Agri 1.5 Years 200,000 16/03/2021 16/09/2020 - 200,000
Sub Total 200,000 - 200,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0163 Kush�a Branch Musafir Enterprise Agri-Working Capital 1.5 Years 500,000 01/12/2020 31/05/2022 - 500,000
Sub Total 500,000 - 500,000
0165 Ruppur Branch Hosne Ara Agro Firm Agri-Working Capital 1.5 Years 200,000 30/09/2020 29/03/2022 - 200,000
Sub Total 200,000 - 200,000
0166 Jashore Branch Kaisan Dairy Firm Agri-Working Capital 1.5 Years 1,000,000 15/07/2021 15/01/2023 - 1,000,000
0166 Jashore Branch Asif Poultry Complex Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
0166 Jashore Branch Hasan Dairy Farm Agri-Working Capital 1.5 Years 1,000,000 01/12/2020 31/05/2022 - 1,000,000
Sub Total 2,500,000 - 2,500,000
0167 Mirpur-12 Branch Café Darbar Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 27/12/2021 27/12/2022 - 750,000
0167 Mirpur-12-Branch Development Ini�a�ve for Social Low-Income Professional 9 Months 39,672,000 20/10/2020 20/07/2021 39,672,000 -

264
0167 Mirpur-12-Branch Development Ini�a�ve for Social Low-Income Professional 9 Months 32,438,000 19/11/2020 19/08/2021 32,438,000 -
0167 Mirpur-12-Branch Development Ini�a�ve for Social Low-Income Professional 9 Months 15,298,000 29/12/2020 29/09/2021 15,298,000 -
0167 Mirpur-12-Branch Development Ini�a�ve for Social Low-Income Professional 9 Months 12,747,000 18/01/2021 18/10/2021 12,747,000 -
0167 Mirpur-12-Branch Development Ini�a�ve for Social Low-Income Professional 9 Months 14,265,000 28/02/2021 25/11/2021 14,265,000 -
0167 Mirpur-12-Branch Development Ini�a�ve for Social Low-Income Professional 9 Months 5,580,000 04/05/2021 04/02/2022 2,790,000 2,790,000
Sub Total 120,750,000 117,210,000 3,540,000
0168 Purbadhala Branch M/s. Razzak Bosraloy Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 29/06/2021 28/06/2022 - 250,000
0168 Purbadhala Branch M/S. Rokeya Poultry and Fish Feed Refinance for SME-Enterpreneur-CMSME 1 Year 400,000 29/06/2021 28/06/2022 - 400,000
Sub Total 650,000 - 650,000
0169 Rajbari Branch Chowdhury Traders Refinance for SME-Enterpreneur-CMSME 1 Year 1,050,000 17/11/2020 16/11/2021 1,050,000 -
0169 Rajbari Branch Monowar Hossain Agri-Working Capital 1.5 Years 200,000 09/11/2021 09/05/2023 - 200,000
0169 Rajbari Branch Sirajul Islam Agri-Working Capital 1.5 Years 200,000 09/11/2021 09/05/2023 - 200,000
0169 Rajbari Branch Md. Faridul islam Agri-Working Capital 1.5 Years 200,000 09/11/2021 09/05/2023 - 200,000
0169 Rajbari Branch Md Hanif Agri-Working Capital 1.5 Years 200,000 09/11/2021 09/05/2023 - 200,000
0169 Rajbari Branch Md. Alamin Biswas Agri-Working Capital 1.5 Years 200,000 09/11/2021 09/05/2023 - 200,000
Sub Total 2,050,000 1,050,000 1,000,000
0170 Madargonj Branch Abu Sayeed Agri-Working Capital 1.5 Years 500,000 06/09/2021 06/09/2023 - 500,000
0170 Madargonj Branch Md Sajedul islam Agri-Working Capital 1.5 Years 00,000 6/09/2021 06/09/2023 -
0170 Madargonj Branch Mahfuj Dairy &Agro firm Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
Sub Total 1,300,000 - 1,300,000
0171 Barguna Branch Rabeya Dairy Agri-Working Capital 1.5 Years 1,000,000 20/08/2020 20/01/2022 - 1,000,000
0171 Barguna Branch JM Traders Agri-Working Capital 1.5 Years 300,000 29/12/2020 29/06/2022 - 300,000
Sub Total 1,300,000 - 1,300,000
0173 kalaroa Branch Satkhira Unnayan Sangthha Low-Income Professional 1 Year 70,024,000 05/12/2021 05/12/2022 - 70,024,000
0173 kalaroa Branch Satkhira Unnayan Sangthha Low-Income Professional 1 Year 79,976,000 29/12/2021 29/12/2022 - 79,976,000
Sub Total 150,000,000 - 150,000,000
0174 Banglabazar Branch Grameen Jonounnayan Shangstha Low-Income Professional 1 Year 100,000,000 05/12/2021 05/12/2022 - 100,000,000
Sub Total 100,000,000 - 100,000,000
0175 Shyamoli Ring Road M/s. Bashary Traders Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 29/06/2021 28/06/2022 - 750,000
Sub Total 750,000 - 750,000
 Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Fund Type Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0176 Bhanga Branch Santo Islam (Pvt) Limited Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 27/12/2021 27/12/2022 - 1,500,000
0176 Bhanga Branch M/s. Hazi Amzad Mollah & Sons Refinance for SME-Enterpreneur-CMSME 1 Year 1,250,000 27/12/2021 27/12/2022 - 1,250,000
Sub Total 2,750,000 - 2,750,000
3001 Poshu Hospital Road SKS Founda�on Low-Income Professional 1.5 Years 73,313,000 12/08/2021 12/08/2023 - 73,313,000
3001 Pashu Hospital Sub SKS Founda�on Low-Income Professional 1.5 Years 72,121,000 16/03/2021 16/09/2022 - 72,121,000
3001 Pashu Hospital Sub SKS Founda�on Low-Income Professional 1 Year 100,000,000 16/03/2021 29/12/2022 - 100,000,000
3001 Pashu Hospital Sub SKS Founda�on Low-Income Professional 1 Year 54,566,000 11/11/2021 11/11/2022 - 54,566,000
Sub Total 300,000,000 - 300,000,000
5005 Kaliakoir Sub Anjuman Ara Modsho Khamar Agri-Working Capital 1.5 Years 200,000 15/07/2021 15/01/2023 - 200,000
5005 Kaliakoir Sub Titumir Modsho Khamar Agri-Working Capital 1.5 Years 500,000 15/07/2021 15/01/2023 - 500,000
Sub Total 700,000 - 700,000
5006 Sreepur Sub-Branch Sifat Dairy Firm Agri-Working Capital 1.5 Years 700,000 06/09/2021 06/09/2023 - 700,000
5006 Sreepur Sub-Branch Haji Dairy Firm Agri 1.5 Years 500,000 16/03/2021 16/09/2020 - 500,000
Sub Total 1,200,000 - 1,200,000
5009 Panchruki Sub-Branch Grameen Khaddar Corner Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 13/01/2021 12/01/2022 - 1,000,000
Sub Total 1,000,000 - 1,000,000
5019 Jhalakathhi-Sub-Branch Dak Diye Jai Low-Income Professional 1.5 Years 80,000,000 20/09/2020 20/07/2021 80,000,000 -
5019 Jhalakathhi-Sub-Branch Dak Diye Jai Low-Income Professional 1.5 Years 50,000,000 25/08/2020 20/09/2021 50,000,000 -
5019 Jhalakathhi-Sub-Branch Dak Diye Jai Low-Income Professional 1 Year 70,000,000 20/10/2020 20/09/2021 70,000,000 -
Sub Total 200,000,000 200,000,000 -
5020 Kendua Sub Branch Prova Enterprise Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
5020 Kendua Sub Branch Shaon Sohan Fisheries Agri-Working Capital 1.5 Years 300,000 15/07/2021 15/01/2023 - 300,000
Sub Total 600,000 - 600,000
5025 Kalimohor-Sub-Branch M/s. Jahan Trade Center Refinance for SME-Enterpreneur-CMSME 1 Year 500,000 29/06/2021 28/06/2022 - 500,000
Sub Total 500,000 - 500,000
5028 Kaliganj Sub. Branch Star Garments and Fabrics Refinance for SME-Enterpreneur-CMSME 1 Year 1,500,000 27/12/2021 27/12/2022 - 1,500,000
Sub Total 1,500,000 - 1,500,000

265
5030 Shibchar Sub. Branch M/s. Kowsar Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 750,000 27/12/2021 27/12/2022 - 750,000
5030 Shibchar Sub M/S. Mahima Tiles & Sanitary Mart Refinance for SME-Enterpreneur-CMSME 1 Year 1,000,000 29/06/2021 28/06/2022 - 1,000,000
Sub Total 1,750,000 - 1,750,000
5034 Itakhola-Sub-Branch Molla Motsho Khamar& Poultry Feeds Agri-Working Capital 1.5 Years 500,000 29/12/2020 29/06/2022 - 500,000
Sub Total 500,000 - 500,000
5055 Branch M/S M.K.S Enterprise Refinance for SME-Enterpreneur-CMSME 1 Year 250,000 27/12/2021 27/12/2022 - 250,000
5055 Branch Gazi Enterprise Agri-Working Capital 1.5 Years 1,000,000 06/09/2021 06/09/2023 - 1,000,000
5055 Branch Alif Modsho Khamar Agri-Working Capital 1.5 Years 15,000,000 15/07/2021 15/01/2023 - 15,000,000
Sub Total 16,250,000 - 16,250,000
Total 4,316,206,442 2,408,815,587 1,907,390,855
 Subject: Pre-finance for SME Credit Wholesaling Program (SMEF) on December 31, 2021
Annexure-F
Branch Refinance Date of Last Total Principal Remaining
Code Branch-Name Client-Name Client-Name Tenor Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0101 Principal Branch Legacy Trade Interna�on Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 5,000,000 16/11/2021 16/11/2023 - 5,000,000
0177 Kishoreganj Branch Fuad Agro Firm Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 500,000 16/11/2021 16/11/2023 - 500,000
0177 Kishoreganj Branch Fuad Fisheries Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 500,000 16/11/2021 16/11/2023 - 500,000
0167 Mirpur-12 Branch Fair Agro Chemical Services Limited Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 5,000,000 16/11/2021 16/11/2023 - 5,000,000
0140 Bhulta Branch MS. Ranna Ghore Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,000,000 16/11/2021 16/11/2023 - 1,000,000
0125 Chandraganj Branch Milon Dairy Firm Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 800,000 16/11/2021 16/11/2023 - 800,000
0138 Inderhat Branch Banolata Modsho Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 500,000 16/11/2021 16/11/2023 - 500,000
0117 Nabinagar Branch Safat Clinic Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 2,000,000 16/11/2021 16/11/2023 - 2,000,000

266
0117 Nabinagar Branch M.M. Transport Agency Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 2,000,000 16/11/2021 16/11/2023 - 2,000,000
0145 Charabag Branch Mir Sanjida Corpora�on Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 500,000 16/11/2021 16/11/2023 - 500,000
0129 Mirpur Branch Modina Trading Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,000,000 22/12/2021 22/12/2013 - 1,000,000
0167 Mirpur-12 Branch Shahjalal Fashion Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 300,000 22/12/2021 23/12/2013 - 300,000
0167 Mirpur-12 Branch Sufia Fashion House Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 300,000 22/12/2021 24/12/2013 - 300,000
0115 Zirabo Branch Integrity Kni�ex Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,500,000 22/12/2021 25/12/2013 - 1,500,000
0115 Zirabo Branch AFA Accessories Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,500,000 22/12/2021 26/12/2013 - 1,500,000
0109 Boardbazar Branch SA Enterprise Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 4,500,000 22/12/2021 27/12/2013 - 4,500,000
0120 Rajshahi Branch Boshundhara Traders Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 2,000,000 22/12/2021 28/12/2013 - 2,000,000
0108 U�ara Branch Ram Level Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 3,000,000 22/12/2021 29/12/2013 - 3,000,000
0170 Madargonj Branch Shukhnagori Agro Firm Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 2,900,000 22/12/2021 30/12/2013 - 2,900,000
0115 Zirabo Branch A�sha Kni�ng Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 3,000,000 22/12/2021 31/12/2013 - 3,000,000
0175 Panchagarh Highway Branch Tonin Traders Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 2,000,000 15/11/2021 15/11/2023 - 2,000,000
0127 Zirani Bazar Branch MS Dewan Dairy Firm Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 3,500,000 15/11/2021 15/11/2023 - 3,500,000
0165 Ruupur Branch Samiha Krishi Khamar Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,000,000 15/11/2021 15/11/2023 - 1,000,000
0170 Kishoreganj Branch Ganjchil Restora and Mini Chinese Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,000,000 15/11/2021 15/11/2023 - 1,000,000
0159 Bateshwar Branch MS Rayhan Store Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 500,000 15/11/2021 15/11/2023 - 500,000
0166 Jessore Branch Samad Enterprise Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 2,000,000 15/11/2021 15/11/2023 - 2,000,000
0157 Bandura Branch Aram Pharmacy Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 1,400,000 15/11/2021 15/11/2023 - 1,400,000
0177 Kishoreganj Branch Ismail Store Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 300,000 15/11/2021 15/11/2023 - 300,000
0177 Kishoreganj Branch Saddam Shoes Refinance for SME Credit Wholesaling Program (SMEF) 2 Year 500,000 15/11/2021 15/11/2023 - 500,000
Total 50,000,000 - 50,000,000
 Subject: Prefinance-SME Founda�on on December 31, 2021 Annexure-F
Branch Branch-Name Client-Name Fund Type Tenor Refinance Date of Last Total Principal Remaining
Code Amount/Principal Disbursement Installment Paid Principal
Amount by Bangladesh Payment Date
Bank
0101 Gulshan Branch Pre-Finance Safety Retrofits and
Environmental Upgrade Prog. (SREUP 6 Years 70,000,000 29/06/2021 29/06/2027 - 70,000,000
0177 Gulshan Branch Pre-Finance Safety Retrofits and
Environmental Upgrade Prog. (SREUP 6 Years 52,800,000 01/12/2021 01/12/2027 - 52,800,000
Total 122,800,000 - 122,800,000

Grand Total 4,489,006,442 2,408,815,587 2,080,190,855

267
 NRB Commercial Bank Limited
Schedule of Property, Plant & Equipment for Accoun�ng Purpose
As at 31 December 2021 Annexure-G
Assets Deprecia�on
SI Opening Addi�on during Disposal during Closing Rate of Opening Addi�on during Disposal during Closing Book Value
Proper�es & Assets
NO. Balance the year the year Balance Deprecia�on Balance the year the year Balance
1 Building and Construc�on - - - - 2.50% - - - - -
2 Furniture and fixtures 588,467,071 528,437,326 - 1,116,904,397 10.00% 185,935,537 76,725,779 - 262,661,316 854,243,081
3 Machinery and Plant 297,284,950 77,354,966 - 374,639,916 20.00% 236,059,505 24,870,552 - 260,930,057 113,709,859
4 Office Equipment 228,515,188 119,401,808 - 347,916,996 20.00% 145,866,165 35,453,591 - 181,319,756 166,597,240
5 Computer & Computer Equipment 179,305,799 92,754,339 - 272,060,137 20.00% 99,721,900 31,134,097 - 130,855,997 141,204,140
6 Intangible Assets/ Bangladesh Made Computer So�ware 172,673,465 12,294,685 - 184,968,150 20.00% 139,427,455 18,138,409 - 157,565,864 27,402,286
7 Motor Vehicles-Office Used 16,100,000 - 11,500,000 4,600,000 20.00% 13,569,997 920,000 11,499,997 2,990,000 1,610,000
8 Motor Vehicles-Transport 30,750,000 - 15,750,000 15,000,000 20.00% 22,833,327 3,000,000 15,749,994 10,083,333 4,916,667
9 Professionals and Reference Books 23,370 - - 23,370 20.00% 23,365 - 23,365 - 5
20,330,619 - -

268
10 Leased Assets: Motor Vehicle 20,330,624 - 20,330,624 - 20.00% 20,330,619 -
Sub-Total 1,533,450,466 830,243,124 47,580,624 2,316,112,967 863,767,870 190,242,428 47,580,610 1,006,429,689 1,309,683,278

Sub -Total:December-2020 1,215,463,553 317,986,913 - 1,533,450,466 709,247,252 154,520,619 - 863,767,870 669,682,596

1 Right-of-use assets : Office space * 242,347,947 524,916,311 53,182,250 714,082,008 - 76,971,592 144,437,690 26,025,357 195,383,926 518,698,083
Sub-Total 242,347,947 524,916,311 53,182,250 714,082,008 76,971,592 144,437,690 26,025,357 195,383,926 518,698,083

Grand-Total 1,775,798,414 1,355,159,436 100,762,874 3,030,194,975 940,739,463 334,680,118 73,605,967 1,201,813,614 1,828,381,361

Total-December-2020 1,215,463,553 560,334,860 - 1,775,798,414 709,247,252 231,492,211 - 940,739,463 835,058,951

* Right-of-use assets arises for implemen�ng of the “IFRS 16: Lease”. This amount comprises lease liabili�es (ref: Note 13.10) and ini�al payment for execu�ng the contract.

NRB Commercial Bank Limited

Schedule of Property, Plant & Equipment for Tax Purpose (3rd Schedule As Per IT Rule, 1984)
As at 31 December 2021 Annexure-H
Assets Deprecia�on
SI Opening Addi�on during Disposal during Closing Rate of Opening Addi�on during Disposal during Closing Book Value
Proper�es & Assets
NO. Balance the year the year Balance Deprecia�on Balance the year the year Balance
1 Building and Construc�on - - - - 2.50% - - - - -
2 Furniture and fixtures 588,467,071 528,437,326 - 1,116,904,397 10.00% 176,409,132 94,049,527 - 270,458,658 846,445,739
3 Machinery and Plant 297,284,950 77,354,966 374,639,916 20.00% 117,258,783 51,476,227 - 168,735,010 205,904,906
4 Office Equipment and Machinery 228,515,188 119,401,808 - 347,916,996 10.00% 72,840,239 27,507,676 - 100,347,915 247,569,081
5 Computer and Computer Equipment 179,305,799 92,754,339 - 272,060,137 30.00% 160,190,216 33,560,976 - 193,751,192 78,308,945
6 Intangible Assets/Bangladesh Made Computer So�ware 172,673,465 12,294,685 - 184,968,150 50.00% 160,636,062 12,166,044 - 172,802,106 12,166,044
7 Motor Vehicles-Office Used 16,100,000 - - 16,100,000 20.00% 13,569,997 506,001 - 14,075,997 2,024,003
8 Motor Vehicles-Transport 30,750,000 - - 30,750,000 20.00% 22,833,327 1,583,335 - 24,416,662 6,333,338
9 Professionals and Reference Books 23,370 - - 23,370 30.00% 21,445 577 - 22,023 1,347
10 Leased Assets: Motor Vehicle 20,330,624 - - 20,330,624 20.00% 15,554,653 955,194 - 16,509,847 3,820,777
Total 1,533,450,466 830,243,124 - 2,363,693,591 739,313,855 221,805,556 - 961,119,411 1,402,574,180

Total-December-2020 1,215,463,553 317,986,913 - 1,533,450,466 599,969,604 133,568,254 - 739,313,855 794,136,611

 NRB Commercial Bank Limited
Detailed of Risk Weighted Assets on Solo Basis under Basel III as at 31 December 2021
Annexure-H(A)
31-Dec-2021 31-Dec-2020
Risk Weighted Assets (RWA) for
Exposure Risk Weighted Asset Exposure Risk Weighted Asset
A. Credit Risk 170,582,950,841 104,776,218,144 112,534,597,151 67,574,951,449
On- Balance Sheet (as shown below) 153,552,395,311 89,929,931,868 99,128,698,573 56,965,500,378
Off-Balance Sheet (as shown below) 17,030,555,529 14,846,286,276 13,405,898,578 10,609,451,071
B. Market Risk - 6,438,249,954 - 7,151,593,354
C. Opera�onal Risk - 8,268,395,377 - 8,271,148,930
Total: RWA (A+B+C) 170,582,950,841 119,482,863,475 112,534,597,151 82,997,693,733

Credit Risk - On Balance Sheet Items

31-Dec-2021 31-Dec-2020
SL Exposure Type
Exposure Ra�ng Risk Weigh Risk Weighted Asset
a Cash and Cash Equivalents 2,620,616,693 0% -
b Claims on Bangladesh Government and Bangladesh Bank 24,521,563,638 0% -
c Claims on other Sovereigns & Central Banks* - 50% -
d Claims on Bank for Interna�onal Se�lements, Interna�onal - 0% -
Monetary Fund and European Central Bank
e Claims on Mul�lateral Development Banks (MDBs): 0% -
i. IBRD,IFC,ADB,AFDB,EBRD,IADB,EIB,EIF,NIB,CDB,IDB,CEDB - -
ii. Others MDBs - 1 20% -
- 2,3 50% -
- 4,5 100% -
- 6 150% -
- Unrated 50% -
f Claims on Public Sector En��es (other than Government) in Bangladesh - 1 20% -
- 2,3 50% -
- 4,5 100% -
- 6 150% -
- Unrated 50% -
g Claims on Banks and Non-bank Financial Ins�tu�on (NBFI): -
i) Original maturity over 3 months 1,169,160,073 1 20% 233,832,014.62
914,991,835 2, 3 50% 457,495,917.38
5,480,703 4, 5 100% 5,480,702.61
- 6 150% -
17,376,963 Unrated 100% 17,376,963.35
ii) Original Maturity Up to 3 months 4,292,233,028 20% 858,446,605.56
h Claims on Corporate (excluding equity exposure) 6,601,893,763 1 20% 1,320,378,752.53
9,137,860,641 2 50% 4,568,930,320.70
15,700,671,605 3, 4 100% 15,700,671,605.42
- 5, 6 150% -
9,566,064,119 Unrated 125% 11,957,580,148.67
i Claim on SME - SME 1 20% -
1,810,806,725 SME 2 40% 724,322,689.87
3,524,430,148 SME 3 60% 2,114,658,088.82
1,163,607,396 SME 4 80% 930,885,916.91
99,750,923 SME 5 120% 119,701,107.70
- SME 6 150% -
11,279,175,176 Unrated (Small 75% 8,459,381,381.74
Enterprise & <BDT
3.00m)
12,810,623,036 Unrated (Small enterprise 100% 12,810,623,035.86
having ≥ BDT 3.00m &
medium enterprise)
j Claims under Credit Risk Mi�ga�on - PSE -
93,369,809 Banks & NBFIs -
5,538,136,998 Corporate 2,560,956,136.72
2,930,563,126 Retail & Small 5,049,574.46
1,532,237,096 SME 891,228,024.42
3,259,488 Consumer Finance 543,298.51
- Residen�al property -
- Commercial Real State -
k Claim categories as retail por�olio (Excluding SME, Consumer 1,153,903,178 75% 865,427,383.23
Finance & Staff loan) Upto 1 Crore
l Consumer Loan 3,673,669,285 100% 3,673,669,284.77
m Claims fully secured by residen�al property 5,458,882,281 50% 2,729,441,140.60
n Claims fully secured by commercial real estate 753,523,774 100% 753,523,774.14
o 1. Past Due Claims (Risk weights are to be assigned net of - -
specific provision):
Where Specific provisions are less than 20 percent of the 4,800,561,369 150% 7,200,842,053.53
outstanding amount of the past due claim

269
 Annexure-H(A)
Where Specific provisions are no less than 20 percent of the 137,569,534 100% 137,569,534.16
outstanding amount of the past due claim
Where Specific provisions are more than 50 percent of the 2,877,445,117 50% 1,438,722,558.64
outstanding amount of the past due claim
2. Claims fully secured against residen�al property that are past 66,757,117 100% 66,757,117.25
due for more than 60 days and/or impaired specific provision
held there-against is less than 20 percent of outstanding amount
3. Loans & Claims fully secured against residen�al property that - 75% -
are past due for more than 60 days and/or impaired and specific
provision held there-against is more than 20 percent of
outstanding amount
p Capital Market Exposure 1,408,746,093 125% 1,760,932,616.39
q Investment in Equity and Regulatory Capital Instruments issued 3,562,477,547 125% 4,453,096,933.80
by other banks and Merchant Bank/Brokerage Houses/Exchange
Houses which are not listed in Stock Exchange (other than those
deducted from capital) held in banking book
r Investments in Venture Capital - 150% -
s Investments in premises, plant and equipment and all other 1,828,381,361 100% 1,828,381,360.65
fixed assets
t Claims on all fixed assets under opera�ng lease - 100% -
u All other Assets -
i. Claims on GoB & BB 10,603,445,433 0% -
ii. Staff Loan/Investment 761,418,021 20% 152,283,604.16
iii. Cash Item in process of Collec�on - 20% -
iv. Claim on Offshore Banking Unit (OBU) - 100% -
v. Other Assets(Not specified above) (Net of Specific Provision, If any) 1,131,742,221 100% 1,131,742,220.74
Total 153,552,395,311 89,929,931,868

Credit Risk - Off Balance Sheet items

31-Dec-2021 31-Dec-2020
SL Exposure Type
Exposure Ra�ng Risk Weigh Risk Weighted Asset
a Claims on Bangladesh Government (Other than PSEs) and Bangladesh Bank - 0% -
b Claims on other Sovereigns & Central Banks* - -
c Claims on Bank for Interna�onal Se�lements, Interna�onal - 0% -
Monetary Fund and European Central Bank
d Claims on Mul�lateral Development Banks (MDBs): -
i. IBRD, IFC, ADB, AfDB, EBRD, IADB, EIB, EIF, NIB, CDB, IDB, CEDB - - -
ii. Other MDBs - 1 20% -
- 2, 3 50% -
- 4, 5 100% -
- 6 150% -
- Unrated 50% -
e Claims on Public Sector En��es (other than Government) - 1 20% -
in Bangladesh - 2, 3 50% -
- 4, 5 100% -
- 6 150% -
- Unrated 50% -
f Claims on Banks and NBFIs: -
i) Maturity over 3 months - 1 20% -
- 2, 3 50% -
- 4, 5 100% -
- 6 150% -
- Unrated 100% -
ii) Maturity less than 3 months - 20% -
g Claims on Corporate 373,328,769 1 20% 74,665,754
2,358,546,493 2 50% 1,179,273,246
3,080,833,464 3, 4 100% 3,080,833,464
- 5, 6 150% -
3,430,714,452 Unrated 125% 4,288,393,065
h Claims against retail por�olio (excluding SME & consumer loan) 549,903,472 75% 412,427,604
i Claim On SME - SME 1 20% -
377,860,041 SME 2 40% 151,144,016
836,314,203 SME 3 60% 501,788,522
40,532,237 SME 4 80% 32,425,789
- SME 5 120% -
- SME 6 150% -
3,428,750,336 Unrated (Small 75% 2,571,562,752
Enterprise & <BDT
3.00m)
2,553,772,064 Unrated (Small 100% 2,553,772,064
enterprise having ≥ BDT
3.00m & medium
j Consumer Finance - 100% -
k Claims fully secured by residen�al property - 50% -
l Claims fully secured by commercial real estate - 100% -
m Investments in venture capital - 150% -
n All other assets - 100% -
Total 17,030,555,529 14,846,286,276

270
 NRB Commercial Bank Limited Annexure-H(B)
Detailed of Risk Weighted Assets on Consolidated basis under Basel III as at 31 December 2021

31-Dec-2021 31-Dec-2020
Risk Weighted Assets (RWA) for
Exposure Risk Weighted Asset Exposure Risk Weighted Asset
A. Credit Risk 171,467,973,533 105,370,652,810 112,207,790,875 67,281,746,506
On- Balance Sheet (as shown below) 154,437,418,003 90,524,366,534 98,801,892,296 56,672,295,435
Off-Balance Sheet (as shown below) 17,030,555,529 14,846,286,276 13,405,898,578 10,609,451,071
B. Market Risk 6,605,637,264 7,317,185,687
C. Opera�onal Risk 8,342,726,523 8,305,097,422
Total: RWA (A+B+C) 171,467,973,533 120,319,016,597 112,207,790,875 82,904,029,614

Credit Risk - On Balance Sheet Items

31-Dec-2021 31-Dec-2020
SL Exposure Type
Exposure Ra�ng Risk Weigh Risk Weighted Asset
a Cash and Cash Equivalents 2,630,634,849 0% -
b Claims on Bangladesh Government and Bangladesh Bank 24,521,563,638 0% -
c Claims on other Sovereigns & Central Banks* - 50% -
d Claims on Bank for Interna�onal Se�lements, Interna�onal - 0% -
Monetary Fund and European Central Bank
e Claims on Mul�lateral Development Banks (MDBs): -
i. IBRD,IFC,ADB,AFDB,EBRD,IADB,EIB,EIF,NIB,CDB,IDB,CEDB - 0% -
ii. Others MDBs - 1 20% -
- 2,3 50% -
- 4,5 100% -
- 6 150% -
- Unrated 50% -
f Claims on Public Sector En��es (other than Government) - 1 20% -
in Bangladesh - 2,3 50% -
- 4,5 100% -
- 6 150% -
- Unrated 50% -
g Claims on Banks and Non-bank Financial Ins�tu�on (NBFI): - -
i) Original maturity over 3 months 1,169,160,073 1 20% 233,832,015
914,991,835 2, 3 50% 457,495,917
5,480,703 4, 5 100% 5,480,703
- 6 150% -
17,376,963 Unrated 100% 17,376,963
ii) Original Maturity Up to 3 months 4,334,072,698 20% 866,814,540
h Claims on Corporate (excluding equity exposure) 6,601,893,763 1 20% 1,320,378,753
9,137,860,641 2 50% 4,568,930,321
15,700,671,605 3, 4 100% 15,700,671,605
- 5, 6 150% -
9,566,064,119 Unrated 125% 11,957,580,149
i Claim on SME - SME 1 20% -
1,810,806,725 SME 2 40% 724,322,690
3,524,430,148 SME 3 60% 2,114,658,089
1,163,607,396 SME 4 80% 930,885,917
99,750,923 SME 5 120% 119,701,108
- SME 6 150% -
11,279,175,176 Unrated (Small 75% 8,459,381,382
Enterprise & <BDT
3.00m)
12,810,623,036 Unrated (Small enterprise
having ≥ BDT 3.00m & 100% 12,810,623,036
medium enterprise)
j Claims under Credit Risk Mi�ga�on - PSE -
93,369,809 Banks & NBFIs -
5,538,136,998 Corporate 2,560,956,137
2,930,563,126 Retail & Small 5,049,574
1,532,237,096 SME 891,228,024
3,259,488 Consumer Finance 543,299
- Residen�al property -
- Commercial Real State -

271
k Claim categories as retail por�olio (Excluding SME, Consumer 1,153,903,178 75% 865,427,383
Finance & Staff loan) Upto 1 Crore
l Consumer Loan 3,673,669,285 100% 3,673,669,285
m Claims fully secured by residen�al property 5,458,882,281 50% 2,729,441,141
n Claims fully secured by commercial real estate 753,523,774 100% 753,523,774
o 1. Past Due Claims (Risk weights are to be assigned net of - -
specific provision):
Where Specific provisions are less than 20 percent of the 4,800,561,369 150% 7,200,842,054
outstanding amount of the past due claim
Where Specific provisions are no less than 20 percent of the 137,569,534 100% 137,569,534
outstanding amount of thepast due claim
Where Specific provisions are more than 50 percent of the 2,877,445,117 50% 1,438,722,559
outstanding amount of thepast due claim
2. Claims fully secured against residen�al property that are past 66,757,117 100% 66,757,117
due for more than 60 days and/or impaired specific provision held
there-against is less than 20 percent of outstanding amount
3. Loans & Claims fully secured against residen�al property that - 75% -
are past due for more than 60 days and/or impaired and specific
provision held there-against is more than 20 percent of
outstanding amount
p Capital Market Exposure 2,001,017,056 125% 2,501,271,320
q Investment in Equity and Regulatory Capital Instruments issued 3,452,212,853 125% 4,315,266,066
by other banks and Merchant Bank/Brokerage Houses/Exchange
Houses which are not listed in Stock Exchange (other than those
deducted from capital) held in banking book
r Investments in Venture Capital - 150% -
s Investments in premises, plant and equipment and all 1,837,801,596 100% 1,837,801,596
other fixed assets
t Claims on all fixed assets under opera�ng lease - 100% -
u All other Assets -
i. Claims on GoB & BB 10,779,240,647 0% -
ii. Staff Loan/Investment 761,418,021 20% 152,283,604
iii. Cash Item in process of Collec�on 239,755,608 20% 47,951,122
iv. Claim on Offshore Banking Unit (OBU) - 100% -
v. Other Assets(Not specified above) (Net of Specific Provision, If any) 1,057,929,760 100% 1,057,929,760
Total 154,437,418,003 90,524,366,534

Credit Risk - Off Balance Sheet items

31-Dec-2021 31-Dec-2020
SL Exposure Type
Exposure Ra�ng Risk Weigh Risk Weighted Asset
a Claims on Bangladesh Government (Other than PSEs) and Bangladesh Bank - 0% -
b Claims on other Sovereigns & Central Banks* - -
c Claims on Bank for Interna�onal Se�lements, Interna�onal - 0% -
Monetary Fund and European Central Bank
d Claims on Mul�lateral Development Banks (MDBs): -
i. IBRD, IFC, ADB, AfDB, EBRD, IADB, EIB, EIF, NIB, CDB, IDB, CEDB - - -
ii. Other MDBs - 1 20% -
- 2, 3 50% -
- 4, 5 100% -
- 6 150% -
- Unrated 50% -
e Claims on Public Sector En��es (other than Government) - 1 20% -
in Bangladesh - 2, 3 50% -
- 4, 5 100% -
- 6 150% -
- Unrated 50% -
f Claims on Banks and NBFIs: - -
i) Maturity over 3 months - 1 20% -
- 2, 3 50% -
- 4, 5 100% -
- 6 150% -
- Unrated 100% -
ii) Maturity less than 3 months - 20% -
g Claims on Corporate 373,328,769 1 20% 74,665,754
2,358,546,493 2 50% 1,179,273,246
3,080,833,464 3, 4 100% 3,080,833,464
- 5, 6 150% -
3,430,714,452 Unrated 125% 4,288,393,065

272
 h Claims against retail por�olio (excluding SME & consumer loan) 549,903,472 75% 412,427,604
- SME 1 20% -
377,860,041 SME 2 40% 151,144,016
836,314,203 SME 3 60% 501,788,522
40,532,237 SME 4 80% 32,425,789
- SME 5 120% -
- SME 6 150% -
3,428,750,336 Unrated (Small 75% 2,571,562,752
Enterprise & <BDT
3.00m)
Unrated (Small
2,553,772,064 enterprise 100% 2,553,772,064
having ≥ BDT
3.00m & medium
j Consumer Finance - 100% -
k Claims fully secured by residen�al property - 50% -
l Claims fully secured by commercial real estate - 100% -
m Investments in venture capital - 150% -
n All other assets - 100% -
Total 17,030,555,529 14,846,286,276

Annexure-I
Related Party Disclosure
The par�es are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the
other party in making financial and opera�ng decisions. Par�es are also considered to be related if they are subject to common control or significant
influence. Related party informa�on are given below:

i. Directors' interest in different en��es

Sl Name of Director Status with Experience Name of the firms/companies in which Status as in Column Percentage of
Bank interested as Proprietor, Partner, Director E Holding/Interest
Managing Agent, Guarantor, Employee, etc. in the concern

A B C D E F G
1 Mr. S.M.Parvez Tamal Chairman 25 Years a. System Invest Trekhprudnaya a. Director a. 95%
11/13, Off 25, Moscow, Russia.
b. Telexia Oy, Finland b. Board Member b. 33%
c. R & M, Kurtskaya, Moscow, Russia. c. Owner c. 62%
d. OY STN Electronics Limited d. CEO & President d. 100%
IC, 02230 Espoo, Finland
e. A & P Venture Ltd., House # 4, Road # 27 e. Chairman e. 50%
Block-J Banani, Dhaka, Bangladesh
f NRBC Bank Securi�es Limited, f. Sponsor Director f. 0.57%
114 Mo�jheel C/A, Dhaka
g. NRBC Management Limited, Hadi Mansion g. Chairman & g. 13.15%
(Level-7), 02, Dilkusha C/A Dhaka-1000 Managing Director
2 Mr. Rafikul Islam Mia Arzoo Vice Chairman 29 Years a. Mela, 2nd Magietralnaya 14 G, Moscow, a. MD a. 89.5%
Russia
b. Greenci�, St. Bibirovskaya 2/1, Moscow, b. Director b. 67%
Russia.
c. JSC Bibirevo, St. Bibirobskaya 2/1 c. Director c. 94%
Moscow, Russia
d. NRBC Bank Securi�es Limited, d. Director d. 0.57%
114 Mo�jheel C/A, Dhaka
e. NRBC Management Limited, e. Director e. 9.96%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
3 Mr. Mohammed Adnan Imam, Director 20 Years a. IPE Group (Holdings) Limited a. Managing Director a. 50%
FCCA 73, New Bond Street, Mayfair, London, W1S
1RS, UK.
b. Genex Infosys Ltd. b. Managing Director b. 8.2%
House # 9, Road-25/A, Block-A, Banani,
Dhaka-1213, Bangladesh.
c. Green & Red Technologies Limited c. Chairman & c. 1%
House # 9, Road-25/A, Block-A, Banani, Representa�ve
Dhaka-1213, Bangladesh. Director of Genex
Infosys Limited
d. Denim Asia Limited d. Director d. 21%
117/A, Tejgaon Industrial Area, Dhaka-1208
e. AWR Developments (BD) Limited, e. Managing Director e. 45%
House # 9, Road-25/A, Block-A, Banani,
Dhaka-1213, Bangladesh.

273
 Annexure-I
Sl Name of Director Status with Experience Name of the firms/companies in which Status as in Column Percentage of
Bank interested as Proprietor, Partner, Director E Holding/Interest
Managing Agent, Guarantor, Employee, etc. in the concern

A B C D E F G
f. AWR Real Estate Limited, f. Managing Director f. 50%
House # 9, Road-25/A, Block-A, Banani,
Dhaka-1213, Bangladesh.
g. Oracle Services Ltd. g. Managing Director g. 50%
House # 9, Road-25/A, Block-A, Banani,
Dhaka-1213, Bangladesh.
h. NRBC Bank Securi�es Limited, h. Sponsor-Director h. 0.57%
114 Mo�jheel C/A, Dhaka
i. NRBC Management Limited, i. Director i. 5.98%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
4 Mr. A M Saidur Rahman Director 18 Year a. Saidur Rahman Founda�on a. Chairman
b. Pandemic Fisheries Ltd. b. Chairman b. 25%
c. Royal Denim c. Chairman c. 3.09%
d. NRBC Bank Securi�es Limited, d. Sponsor-Director d. 0.5%
114 Mo�jheel C/A, Dhaka
e. NRBC Management Limited, e. Shareholder e. 1.84%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
5 Mr. Mohammed Oliur Director 29 Years a. AIBL Capital Market Services Ltd., Dhaka a. Shareholder a. 3%
Rahman b. Al Haramain Trading LLC b. Director b. 10%
PO Box: 13754, Dubai, UAE
c. Al Haramain Perfumes Pvt. Ltd., Bangladesh c. Managing Director c. 20%
d. Al Haramain Hospital Pvt. Ltd. d. Director d. 20%
e. Al Haramain Securi�es Ltd. e. Sponsor-Director e. 40%
f. NRBC Management Limited, f. Shareholder f. 1.84%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
6 Mr. Abu Bakr Chowdhury Director 20 Years a. ABC Associates Ltd. Aerial Legend, Level 6, a. MD a. 98.13%
1080, CDA Avenue, Nasirabad, Cha�ogram.
b. CSS Corpora�on (BD) Ltd., Aerial Legend, Level 6, b. MD b. 85%
1080, CDA Avenue, Nasirabad, Cha�ogram.
c. CSS Power Ltd., Aerial Legend, Level 6, c. MD c. 75%
1080, CDA Avenue, Nasirabad, Cha�ogram.
d. ATN News Ltd., WASA Bhaban (1st Floor), d. Director d. 20%
98 Kazi Nazrul Islam Avenue, Dhaka
e. Baizid Steel Industries Ltd., Aerial Legend, Level 6, e. MD e. 78.29%
1080, CDA Avenue, Nasirabad, Cha�ogram.
f. ABC Marks Holdings Ltd., Aerial Legend, f. MD g. 85%
Level 6, 1080, CDA Avenue, Nasirabad,
Cha�ogram.
g. Alliance Deep Sea Fishing g. Director g. 12.5%
182, KBA Sa�ar Road, Rahmatganj, Cha�ogram.
h. Holy Crescent Hospital Ltd. h. Director h. 10%
500/A, Zakir Hossain Road, Cha�ogram.
i. NRBC Bank Securi�es Limited, i. Sponsor-Director h. 0.5%
114 Mo�jheel C/A, Dhaka
j. NRBC Management Limited, j. Shareholder i. 5.98%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
7 Mr. Loquit Ullah Director 38 Years a. Al Arafat SNC, Via Principe Amedia, a. Managing a. 100%
134-136, Rome, Italy. Director
b. NRBC Bank Securi�es Limited, b. Sponsor-Director b. 0.5%
114 Mo�jheel C/A, Dhaka
c. NRBC Management Limited, c. Shareholder c. 5.98%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000

274
 Annexure-I

Sl Name of Director Status with Experience Name of the firms/companies in which Status as in Column Percentage of
Bank interested as Proprietor, Partner, Director E Holding/Interest
Managing Agent, Guarantor, Employee, etc. in the concern

8 Mr. Mohammed Nazim Director 21 Years a. Al Majal Car Wash and Maint, Al Maliha a. MD a. 50%
Street, Industrial Area,-10, Near Gico, PO:
29037, Sharjah, UAE.
b. Al Badar Car Washing Sta�on, New I/A, PO b. MD b. 100%
Box-1267, Ajman, UAE.
c. Dar Al Madina Washing Sta�on, Jouraf I/A-1, c. MD c. 100%
Near China Mall, Ajman, UAE.
d. Dar Al Salam Car Washing Sta�on, Ajman, d. MD d. 100%
UAE.
e. Al Ardh Al Thahabiah Trucks & Heavy e. MD e. 50%
Machines Maint. Center, Sharjah, UAE.
f. Lucent Developments Limited f. Director f. 20%
Madina Tower,(6th Floor), 805/A, CDA
Avenue, GEC Circle, Khulshi, Chi�agong,
Bangladesh
g. NRBC Management Limited, g. Director g. 5.98%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
9 Mr. AKM Mostafizur Rahman Director 22 Years a. Pendamic Trade Interna�onal a. Managing Director a. 100%
b. Pendamic Agro Fisheries b. Managing Director b. 100%
c. NAVA IT Management & Consultancy FZC c. Managing Director c. 10%
d. Royal Denim Ltd. d. Vice Chairman d. 12%
e. EZY Fintech Ltd. e. Chairman e. 35%
f. Pandemic Fisheries Ltd. f. Managing Director f. 50%
g. Uzirpur Fish Park Ltd. g. Managing Director g. 10%
h. Meghna Bank Ltd. h. Sponsor Shareholder h. 1.79%
i. NRBC Bank Securi�es Limited, i. Sponsor-Shareholder i. 0.57%
114 Mo�jheel C/A, Dhaka
j. NRBC Management Limited, j. Director j. 5.98%
Hadi Mansion (Level-7), 02, Dilkusha
Commercial Area, Dhaka-1000
10 Air Chief Marshal Independent 37 Years Nill
Abu Esrar (Retd.) Director
11 Dr. Khan Mohammad Independent 37 Years Nill
Abdul Mannan Director
12 Dr. Raad Mozib Lalon Independent 11 Years Nil
Director

ii. Significant contracts were executed where the Bank is a party and wherein Directors have interest: Nil

iii. Shares to the Directors and Execu�ves without considera�on or exercisable at discount: Nil

iv. Related Party rela�onship and transac�on: Given in the Annexure I1

v. Lending policies for gran�ng loan to the Related Party : Related par�es are allowed Loans and Advances as per General Loan Policy of the Bank.

vi. Business other than Banking business with any related concern of the Directors as per sec�on -18 (2) of the Banking Companies Act, 1991: Nil

vii. Investments in the Security of Directors and their related concerns: Nil

275
 Annexure-I1
Related Party Transac�ons
Related party transac�on is a transfer of resources, services, or obliga�ons between related par�es, regardless of whether a price is charged as per
IAS 24 Related Party Disclosures. The Bank in normal course of business had transac�ons with other en��es that fall within the defini�on of 'Related
Party' as contained in Interna�onal Accoun�ng Standards (IAS)-24 (Related party disclosures) and as defined in the BRPD circular no 14, dated 25
June 2003.
The significant related party transac�ons during the year were as follows [Disclosure as per BRPD 4, Dated February 23, 2014]:

a.Credit (Funded) Facili�es to the Directors' Companies:

Name of Represen�ng Nature of Interest of the BB Reference Nature of Bangladesh Bank Sanc�oned Outstanding Outstanding Amount
Organiza�on Directors Directors with the Facili�es Approval Date Amount [Lac Tk.] as at 01/01/2021 as a Overdue
borrowing firm / individual [Lac Tk.] 31/12/2021 [Lac Tk.]

Pandemic Mr. A.M.

Fisheries Ltd. Saidur Rahman Chairman,
Customer ID: Director-NRBC Bank Term Loan July 05, 2020 1,600.00 524.50 1,645.31 -
0000476724 & Over
Mr. A.K.M. Mostafizur
Rahman, Director Managing Director
-NRBC Bank
ABC Associates Mr. Abu Bakr
Limited Chowdhury, Director Managing Director Loan General September29, 1,200.00 - 1,169.61 -
NRBC Bank 2020

b. Transac�ons rela�ng to office rent:

Name of Organiza�on/ Represen�ng Rela�onship Nature of transac�ons Transac�on Outstanding
made in 2021 as at 31/12/2021
Mr. Rafikul Islam Mia Arzoo Common Director Rental payment for Kalimohor Sub-Branches 120,000
Mr. Rafikul Islam Mia Arzoo Common Director Advance rent for Kalimohor Sub-Branches - 117,258

c. Inter-company balances between NRBC and Subsidiary Figure in Lac Tak

Subsidiary Credit Facili�es Service Type Transac�on Account with NRB Outstanging as
Types Limit Outstanding made in 2021 Bank, PB of 31/12/21
Term Loan 11,500 11,086.52 Interest on OD 1,100.03 SND:0101-360-99 268.28
and Term Loan
Over Dra� 3,000 2,993.68 Brokerage 167.26 SND: 0101-360-098 0.05
NRBC Bank Securi�es Limited Commission

Banking Service from Bank Bank Charge 0.05 SND:0101-364-002 2.73

SND: 0101-360-164 4.58

d. Transac�ons rela�ng with Director's Company:

Name of Organiza�on Rela�onship Service Type Transac�on amount (Tk.)
NRBC Management Limited Common Directors / Close family members Director Manpower services 18,655,089
NRBC Management Limited Do Private Security services 2,420,150
NRBC Management Limited Do Car Hiring Services 2,420,150

276
 NRB Commercial Bank Limited
Islamic Banking Opera�ons Annexure-J
as at and for the year ended 31 December 2021

The operation of our Islamic Banking is totally different from the Bank’s conventional operation as the former operates their business on the basis of
Islamic Shariah. Accounting system is vital for ensuring Shariah compliance in such banking operation. Our Islamic Banking operation is committed
to follow the accounting principles that refrain from interest. In a nutshell, we follow under noted principles for accounting under its Islamic Banking
umbrella, run through a separate Islamic Banking software namely Ultimus
1 Deposit Collec�on and Income Sharing Ra�o (ISR) based Profit Distribu�on
For procuring funds from depositors, our Islamic Banking follows Al-Wadiah and Mudaraba principles. In case of AlWadiah Account, no profit is
allowed at present. But for Mudaraba depositors, NRBC is follow Income Sharing technique in our Islamic Banking operator.

Income sharing module of NRBC has been appreciated by different quarters/institutions/ organizations, particularly by the Central Shariah Board for
Islamic Banks of Bangladesh and Islamic Banks Consultative Forum. Our module offers pre-defined Income Sharing Ratio (ISR) for each type of depositor
and the Bank. The ISR determines the portion of income for each type of depositor and the Bank. For example, the ISR of 75 : 25 would mean that 75%
of distributable income is to be shared by the concerned depositors and the rest 25% to be shared by the Bank. The ISR between each type of Mudaraba
depositors and the Bank (Mudarib) are duly disclosed at the time of Account opening and/or beginning of the concerned period. Profit rate is emerged
at actual, as derived from the income fetched from deployment of the concerned fund. As such our rate of profit on deposit under Islamic Banking is
nothing but a post facto expression of the respective agreed sharing ratios. Our profit rate is an output based on the Bank’s earning on investment.

Distributable Investment
Types of Mudaraba Deposit Income Sharing Ra�o
Client Bank
Al-Wadeah Current Deposit A/c (AWCDA) 0% 100%
Mudaraba Savings Account (MSA) 45% 55%
Mudaraba Shohoj Shanchay 50% 50%
Mudaraba Special Notice Deposit Account (MSND) 35% 65%
Mudaraba Term Deposit A/c (MTDR 1 Month) 60% 40%
Mudaraba Term Deposit A/c (MTDR 2 Months) 60% 40%
Mudaraba Term Deposit A/c (MTDR 3 Months) 70% 30%
Mudaraba Term Deposit A/c (MTDR 6 Months) 72% 28%
Mudaraba Term Deposit A/c (MTDR 1 Year) 72% 28%
Mudaraba Term Deposit A/c (MTDR 2 Year) 72% 28%
Mudaraba Term Deposit A/c (MTDR 3 Year) 72% 28%
Mudaraba Term Deposit A/c (MTDR 4 Year) 72% 28%
Mudaraba Term Deposit A/c (MTDR 5 Year) 72% 28%
Mudaraba Monthly Installment Scheme 75% 25%
Mudaraba Monthly Profit Scheme 75% 25%

Despite of above mentioned sharing principle, Bank distributed the profit by making expenditure as per direction of Board in its 93rd meeting held on
January 18, 2020

2 Investment Opera�on and Return Thereon For Bai-Murabaha Muajjal Investment

Investments of our Islamic Banking are broadly categorized in the While creating each deal, in case of Bai-Murabaha Muajjal mode of
following two types in respect of charging (rate of) return: investment, markup/profit is added to the bank’s purchase cost with a
- Fixed return based investment credit to unearned income A/c. Thereafter time apportionment of
- Variable return based investment profit is recognized out of the unearned income amount at the end of
Fixed return base investment system is applicable for our Bai-Muraba- each month on accrual basis. Allowance (rebate) for early repayment,
ha Muajjal Investment mode. Under this mode, Bank sells the goods to if any, may however be applied at Bank’s discretion.
a client at a fixed profit /mark-up on deferred payment including post
For Hire Purchase Shirkatul Melk (HPSM) Investment
import basis. Hire Purchase Shirkatul Melk (HPSM) is also a fixed return
based investment mode. In this case rate of rent is fixed but amount of In case of HPSM mode of investment rent is charged and taken into

rent becomes variable on the basis of diminishing balance method. income account at the end of each month on accrual basis. If the

277
 account has a provision of gestation period, generally no income is For Musharaka Investment
earned during the period. In this case income starts just after the end In recognizing the revenue from Musharaka Investment we follow the
of gestation period. However rent is chargeable in spite of gestation, if actual (cash/ realization) basis instead of accrual i.e. no income is
the delivery of asset is completed in usable condition such as a recognized until the result of the venture is arrived at.
machine or a set of machinery or building etc.
4 Cost Recogni�on Principle
All accrual income is subject to prevailing classification and provision-
ing rules of Bangladesh Bank. Cost in respect of profit paid on deposit is recognized on accrual basis.
Monthly accruals in this respect are calculated on the basis of Income
Variable return based income is applied for our Musaharaka mode of Sharing Ratio. Other costs are also recognized on the accrual basis
investment. In these cases, only ratio of Income Sharing is stated in the following the matching concept of Accounting.
agreement. Bank bags income on the basis of the concerned venture To ensure/ supervise Shariah compliance in banking operation, NBRC
according to the agreed ratio (comparable to our Mudaraba deposit has a knowledgeable Shariah Supervisory Committee comprising
products). Genuine loss, if any, is borne according to capital ratio of the renowned Fuqaha, Islamic bankers and academicians conversant in
client & the Bank. Islamic Economics & Finance.

3 Income/ Revenue Recognition Principle

The bank earns income from various sources such as charges, fees,
commission and investment income. To recognize all sorts of income,
Bank follows Shariah principle strictly. Usually charges, fees & commis-
sion etc. are recognized on actual basis. Recognition of income from
investment follows principles as under:

278
 NRB Commercial Bank Limited
Islamic Banking Unit
Balance Sheet
As on 31 December 2021
Annexure-J1

At Dec 31, 2021 At Dec 31, 2020

Par�culars
Taka Taka

PROPERTY AND ASSETS

Cash: 104,225,853 27,976,863
In Hand (Including Foreign Currencies) 13,117,721 4,013,863
Balance with Bangladesh Bank and its agent bank (s) (including FC) 91,108,131 23,963,000
Balance with other banks and financial ins�tu�ons 131,704,314 80,698,799
In Bangladesh 131,704,314 80,698,799
Outside Bangladesh - -

Placement with other banks and financial ins�tu�ons - -

Investment in Share and Securi�es 987,460,000 46,400,000

Government 987,460,000 46,400,000
Others - -
Investments 954,691,904 222,153,152
General investments 902,512,583 122,134,992
Bills purchased and discounted 52,179,320 100,018,159

Fixed assets including premises, furniture and fixtures 6,120,133 7,128,179

Other assets 5,518,067 145,143,960

Total assets 2,189,720,270 529,500,952

LIABILITIES AND CAPITAL

Liabili�es
Placement from other banks, financial ins�tu�ons and agents - -
Deposits and other accounts 2,110,364,287 518,854,074
Al-wadeeah current accounts and other accounts 76,459,576 49,633,295
Bills payable 33,368,143 10,000
Mudaraba savings bank deposits 250,270,128 63,838,056
Mudaraba no�ce deposits 52,734,435 1,665,546
Mudaraba fixed deposits 1,265,062,923 383,487,847
Mudaraba Term Deposit- Banks 250,000,000 -
Mudaraba Scheme Deposits 138,177,448 14,822,788
ERQ Deposit - USD 42,255 -
Sundry Deposits 44,249,378 5,396,542

Other liabili�es 76,210,675 10,646,878

Total liabili�es 2,186,574,962 529,500,952

Shareholders' Equity
Retained Profit/(loss) transferred for consolidated Income 3,145,309 -

Total Liabili�es and Shareholders' Equity 2,189,720,270 529,500,952

OFF - BALANCE SHEET EXPOSURES

Acceptances and endorsements 105,094,106 32,519,873
Le�er of Guarantee against LC 3,283,763 -
Bank Guarantee 13,952,200 3,500,000
Irrevocable le�ers of credit 189,580,313 99,804,636
Bills for collec�on 88,968,573 124,773,312
Other con�ngent liabili�es - -
Other commitments - -
Total Off-Balance Sheet exposures including con�ngent liabili�es 400,878,955 260,597,821

279
 NRB Commercial Bank Limited
Islamic Banking Unit
Profit and Loss Account
For the year ended 31 December, 2021
Annexure-J2

2021 2020
Par�culars
Taka Taka

OPERATING INCOME
Profit Received from Investment/Bal. with bank and financial institutions 40,398,078 8,918,872
Profit paid on deposits and borrowings, etc 39,365,217 9,028,458
Net investment income 1,032,861 (109,585)

Investment income 9,802,353 -

Commission, Exchange and Brokerage Income 4,070,900 1,373,358
Other operating income 2,642,597 568,667
Total opera�ng income (A) 17,548,711 1,832,441
OPERATING EXPENSES
Salary and allowances - -
Rent, taxes, insurance, electricity, etc. 129,000 15,000
Legal expenses - -
Postage, stamps, telecommunication, etc. - -
Stationery, printing, advertisement, etc. 207,265 861,195
Chief Executive's salary and fees - -
Directors' fees & meeting expenses - -
Auditors' fees - -
Charges on loan losses - -
Depreciation and repairs of Bank's assets 1,395,727 750,123
Other expenses 5,388 1,693
Total operating expenses (B) 1,737,380 1,628,010
Profit before provision (C = A-B) 15,811,331 204,430
Provision for investments
General provision 9,546,919 2,221,532
Specific provision - -
9,546,919 2,221,532
Provision for Off-Balance Sheet items 3,119,104 2,605,978
Total provision (D) 12,666,023 4,827,510
Profit before taxation (C-D) 3,145,309 (4,623,079)

280
 NRB Commercial Bank Limited
Off-shore Banking Unit (OBU)
Balance Sheet
As on 31 December 2021
Annexure-K

31-DEC-2021
Par�culars Notes
USD Taka

PROPERTY AND ASSETS

Cash: - -
In Hand (Including Foreign Currencies) - -
Balance with Bangladesh Bank and its agent bank (s) (including FC) - -
Balance with other banks and financial ins�tu�ons 3 17,090,989 1,466,406,873
In Bangladesh - -
Outside Bangladesh 17,090,989 1,466,406,873
Money at call and short no�ce - -
Investments - -
Government - -
Others - -

Loans and advances 4 26,024,936 2,232,939,551

Loans, cash credits, overdra�s etc. 25,367,690 2,176,547,766
Bills purchased and discounted 657,247 56,391,785
Fixed assets including premises, furniture and fixtures - -
Other assets - -
Non - banking assets - -
Total assets 43,115,926 3,699,346,424
LIABILITIES AND CAPITAL
Liabili�es
Borrowings from other banks, financial ins�tu�ons and agents 5 42,764,656 3,669,207,515
Deposits and other accounts - -
Current deposits and other accounts - -
Bills payable - -
Savings bank deposits - -
Special no�ce deposits - -
Fixed deposits - -
Schemes Deposit - -
Other liabili�es 6 35,982 3,087,223
Total liabili�es 42,800,638 3,672,294,738
Shareholders' Equity
Retained Profit/(loss) transferred for consolidated Income 315,288 27,051,686

Total Liabili�es and Shareholders' Equity 43,115,926 3,699,346,424

281
 NRB Commercial Bank Limited
Off-shore Banking Unit (OBU)
Profit and Loss Account
For the year ended 31 December, 2021 Annexure-K1
31-DEC-2021
Par�culars Notes
USD Taka

OPERATING INCOME
Interest income 7 398,519 34,192,964
Interest paid on deposits and borrowings, etc 8 98,963 8,491,034
Net investment income 299,556 25,701,930
nvestment income - -
Commission, Exchange and Brokerage Income - -
Other opera�ng income 9 15,731 1,349,757
Total opera�ng income (A) 315,288 27,051,686
OPERATING EXPENSES
Salary and allowances - -
Rent, taxes, insurance, electricity, etc. - -
Legal expenses - -
Postage, stamps, telecommunica�on, etc. - -
Sta�onery, prin�ng, adver�sement, etc. - -
Chief Execu�ve's salary and fees - -
Directors' fees & mee�ng expenses - -
Auditors' fees - -
Charges on loan losses - -
Deprecia�on and repairs of Bank's assets - -
Other expenses - -
Total opera�ng expenses (B) - -
Profit before provision (C = A-B) 315,288 27,051,686
Provision for investments
General provision - -
Specific provision - -
- -
Provision for Off-Balance Sheet items - -
Total provision (D) - -
Profit before taxa�on (C-D) 315,288 27,051,686

282
 NRB Commercial Bank Limited
Off-shore Banking Unit (OBU)Notes
Notes to the Financial Statements
as at and for the year ended 31 December 2021 Annexure-K2

1 Status of the unit

Off-shore Banking Unit (OBU) is a separate business unit of NRB Commercial Bank Limited, governed under the rules and guidelines of
Bangladesh Bank. The Bank obtained the Off-shore Banking Unit (OBU) permission from Bangladesh Bank vide le�er no.
BRPD(OB)/744(128)/2020-7786 dated 22 September, 2020. The Bank commenced the opera�on of its Off-shore Banking Unit on February 7,
2021. The principal ac�vi�y of the unit is to provide all kinds of commercial banking services to its customers through two Off-shore Banking
Unit a�ach with Gulshan Branch and Agrabad Branch.

2 Significant accoun�ng policies and basis of prepara�on of financial Statements

2.1 Basis of prepara�on
The financial statements are prepared on the basis of a going concern and represent the financial performance and financial posi�on of the
Off-shore Banking Unit (OBU). The financial statements of the Off-shore Banking Unit are prepared in accordance with the Bank Companies
Act, 1991, in par�cular, Banking Regula�on and Policy Department (BRPD) Circular No. 02 dated 25 February 2019 and subsequent
amendment/instruc�ons, if any, made thereto from �me to �me by Bangladesh Bank subject to complying the Bank-Company Act, 1991, the
Foreign Exchange Regila�on Act, 1947, Interna�onal Financial Repor�ng Standards (IFRSs) and other applicable laws and regula�ons where
necessary.

2.2 Foreign currency transac�on

The financial statements of the Unit are presented in US Dollar (USD) and Taka where USD is the func�onal currency and Taka are the Unit’s
presenta�on currency. Foreign Currency transac�ons are converted into equivalent USD using the ruling exchange rates on the dates of
respec�ve transac�ons as per IAS 21: The Effects of Changes in Foreign Exchange Rates.

31-DEC-2021
Par�culars Notes
USD Taka

3 Balance with other banks and financial ins�tu�ons

In Bangladesh - -
Outside Bangladesh 17,090,989 1,466,406,873
17,090,989 1,466,406,873
4 Loans and advances
Loans, cash credit, overdra�s etc. (Note 4.1) 25,367,690 2,176,547,766
Bills purchased and discounted (Note 4.2) 657,247 56,391,785
26,024,936 2,232,939,551
4.1 Loans, cash credit, overdra�s etc.
General Loan & Advance (U-pass) 25,367,690 2,176,547,766
25,367,690 2,176,547,766
4.2 Bills purchased and discounted
Payable Inside Bangladesh - -
Payable Outside Bangladesh 657,247 56,391,785
657,247 56,391,785
5 Borrowings from other banks, financial ins�tu�ons and agents
Borrowing from Banks 20,711,250 1,777,025,250
Borrowing from Head Office Through Treasury 22,053,406 1,892,182,265
42,764,656 3,669,207,515
6 Other liabili�es
Interest Payable for Borrowing from Banks 35,982 3,087,223
35,982 3,087,223
7 Interest income
General Loans & Advances 381,328 32,717,971
Export Bills Purchased-Lcy 15,802 1,355,826
Deposit with Banks and Financial Ins�tu�on 1,389 119,167
398,519 34,192,964
8 Interest paid on deposits and borrowings, etc
Interest paid on Borrowings and Deposits 98,963 8,491,034
98,963 8,491,034
9 Other opera�ng income
Swi� Charge Recovery 15,731 1,349,757
15,731 1,349,757

283
 NRB Commercial Bank Limited
Segment Repor�ng
Annexure-L

The Bank reports its opera�ons under the following business segments as per Interna�onal Financial Repor�ng Standards (IFRS) 8 “Opera�ng segment”
Amount in BDT

NRB Commercial Bank Limited NRBC Bank Limited's

Subsidiary
Inter Company
Par�culars Inside Bangladesh Consolidated
Transac�on
Conven�onal Off-shore Banking NRBC Bank
Islamic Banking Total
Banking Unit Securi�es Limited
PROPERTY AND ASSETS
Cash 8,041,102,033 104,225,853 - 8,145,327,886 10,018,246 - 8,155,346,132

284
Balance with other banks and financial ins�tu�ons 2,949,740,168 131,704,314 1,466,406,873 4,547,851,355 76,313,611 (34,473,941) 4,589,691,026
Money at call and short no�ce 147,450,000 - - 147,450,000 - - 147,450,000
Investments 27,553,619,915 987,460,000 - 28,541,079,915 340,429,691 - 28,881,509,606
Loans and advances/investments 101,710,682,475 954,691,904 2,232,939,551 104,898,313,929 2,000,291,811 (1,408,020,848) 105,490,584,892
Fixed assets including premises, furniture and fixtures 1,822,261,228 6,120,133 - 1,828,381,361 9,420,236 - 1,837,801,596
Other assets 5,438,461,419 5,518,067 5,443,979,487 252,362,193 (361,318,217) 5,335,023,463
Total Assets 147,663,317,238 2,189,720,270 3,699,346,424 153,552,383,932 2,688,835,788 (1,803,813,006) 154,437,406,715

LIABILITIES AND CAPITAL

Borrowings from other banks, financial ins�tu�ons 3,618,008,590 - 3,669,207,515 7,287,216,105 1,662,970,294 (1,408,020,848) 7,542,165,550
and agents
Bond - BASEL Capital Tier-I & II 3,000,000,000 - - 3,000,000,000 - - 3,000,000,000
Deposits and other accounts 112,764,509,076 2,110,364,287 - 114,874,873,363 106,863,215 (34,473,941) 114,947,262,637
Other liabili�es 16,502,373,404 76,210,674.97 3,087,223 16,581,671,302 317,761,898 (1,318,217) 16,898,114,983
Total liabili�es 135,884,891,070 2,186,574,962 3,672,294,738 141,743,760,769 2,087,595,407 (1,443,813,006) 142,387,543,170
Total Shareholders' Equity 11,778,426,168 3,145,309 27,051,686 11,808,623,163 601,240,381 (360,000,000) 12,049,863,545
Total Liabili�es and Shareholders' Equity 147,663,317,238 2,189,720,270 3,699,346,424 153,552,383,933 2,688,835,788 (1,803,813,006) 154,437,406,715
 NRB Commercial Bank Limited
Segment Repor�ng

The Bank reports its opera�ons under the following business segments as per Interna�onal Financial Repor�ng Standards (IFRS) 8 “Opera�ng segment” Annexure-L1

NRB Commercial Bank Limited NRBC Bank Limited's

Subsidiary
Inter Company
Par�culars Inside Bangladesh Consolidated
Transac�on
Conven�onal Off-shore Banking NRBC Bank
Islamic Banking Total
Banking Unit Securi�es Limited
Interest income 7,828,312,771 40,398,078 34,192,964 7,902,903,813 190,817,233 (110,003,258) 7,983,717,788
Interest paid/Profit Shared on deposits and borrowings, etc 4,521,601,913 39,365,217 8,491,034 4,569,458,163 110,003,258 (110,003,258) 4,569,458,163
Net interest income 3,306,710,858 1,032,861 25,701,930 3,333,445,649 80,813,975 - 3,414,259,624
Investment income 3,511,387,891 9,802,353 - 3,521,190,244 80,954,109 - 3,602,144,352
Commission, exchange and brokerage 889,032,748 4,070,900 - 893,103,649 239,255,373 (16,725,890) 1,115,633,132
Other opera�ng income 345,430,458 2,642,597 1,349,757 349,422,812 358,044 (4,600) 349,776,255
Total opera�ng income (A) 8,052,561,955 17,548,711 27,051,686 8,097,162,353 401,381,501 (16,730,490) 8,481,813,364
Salary and allowances 2,087,048,876 - - 2,087,048,876 48,924,204 - 2,135,973,080
Rent, taxes, insurance, electricity, etc. 307,470,297 129,000 - 307,599,297 3,563,012 - 311,162,309
Legal expenses 38,360,897 - - 38,360,897 249,475.00 - 38,610,372
Postage, stamps, telecommunica�on, etc. 50,170,978 - - 50,170,978 1,210,301.00 - 51,381,279
Sta�onery, prin�ng, adver�sement, etc. 336,929,662 207,265 - 337,136,927 814,117.00 - 337,951,044
Chief Execu�ve's salary and fees 12,149,459 - - 12,149,459 - - 12,149,459
Directors' fees & mee�ng expenses 10,488,328 - - 10,488,328 153,873.00 - 10,642,201
Auditors' fees 1,058,250 - - 1,058,250 69,000.00 - 1,127,250
Charges on loan losses - - - - - - -
Deprecia�on and repairs of Bank's assets 394,121,084 1,395,727 - 395,516,811 2,433,033 - 397,949,845
Other expenses 803,165,496 5,388 - 803,170,883 39,727,348 (16,730,490) 826,167,740
Total opera�ng expenses (B) 4,040,963,326 1,737,380 - 4,042,700,706 97,144,363 (16,730,490) 4,123,114,579

285
Profit before provision (C = A-B) 4,011,598,629 15,811,331 27,051,686 4,054,461,647 304,237,138 - 4,358,698,785
Provision against loans and advances 695,811,767 9,546,919 - 705,358,686 19,845,628 - 725,204,313
Provision for diminu�on in value of investments 154,990,194 - - 154,990,194 5,236,214 - 160,226,408
Provision for Off-Balance Sheet Exposures 188,573,372 3,119,104 - 191,692,476 - - 191,692,476
Total provision (D) 1,039,375,333 12,666,023 - 1,052,041,356 25,081,841 - 1,077,123,197
Profit before taxa�on (C-D) 2,972,223,296 3,145,309 27,051,686 3,002,420,291 279,155,297 - 3,281,575,588
Provision for taxa�on 918,476,220 - - 918,476,220 79,607,651 - 998,083,871
Current Tax Expenses 1,169,781,963 - - 1,169,781,963 79,579,822 - 1,249,361,784
Deferred Tax Expenses/(Income) -251,305,742 - - -251,305,742 27,829 - (251,277,913)
Net profit a�er taxa�on 2,053,747,076 3,145,309 27,051,686 2,083,944,071 199,547,646 - 2,283,491,716
 Independent Auditor’s Report
To the Shareholders of NRBC Securi�es Limited
Report on the Audit of the Financial Statements

Opinion As part of an audit in accordance with ISAs, we exercise professional

We have audited the financial statements of NRBC Securities Limited., judgment and maintain professional skepticism throughout the audit.
which comprise the Statement of Financial Position as at 31 December We also:
2021, and the Statement of Profit or Loss and Other Comprehensive
• Identify and assess the risks of material misstatement of the
Income, Statement of Changes in Equity and the Statement of Cash
financial statements, whether due to fraud or error, design and
Flows for the year then ended, and notes to the financial statements
perform audit procedures responsive to those risks, and obtain
including a summary of significant accounting policies.
audit evidence that is sufficient and appropriate to provide a
n our opinion, the accompanying financial statements give true and basis for our opinion. The risk of not detecting a material
fair view, in all material respects, of the financial position of the misstatement resulting from fraud is higher than for one
Company as at 31 December 2021 and of its financial performance and resulting from error, as fraud may involve collusion, forgery,
its cash flows for the year then ended in accordance with International intentional omissions, misrepresentations, or the override of
Financial Reporting Standards (IFRSs), the Companies Act 1994 and internal control.
other applicable laws and regulations.
• Obtain an understanding of internal control relevant to the audit
in order to design audit procedures that are appropriate in the
Basis for Opinion
circumstances.
We conducted our audit in accordance with International Standards
on Auditing (ISAs). Our responsibilities under those standards are • Evaluate the appropriateness of accounting policies used and
further described in the Auditor's Responsibilities for the Audit of the the reasonableness of accounting estimates and related
Financial Statements section of our report. We are independent of the disclosures made by management.
Company in accordance with the International Ethics Standards Board
for Accountants’ Code of Ethics for Professional Accountants (IESBA • Conclude on the appropriateness of management’s use of the
Code) together with ethical requirement that are relevant to our audit going concern basis of accounting and, based on the audit
of the financial statements in Bangladesh, and we have fulfilled our evidence obtained, whether a material uncertainty exists related
other ethical responsibilities in accordance with these requirements. to events or conditions that may cast significant doubt on the
We believe that the audit evidence we have obtained is sufficient and Company’s ability to continue as a going concern. If we conclude
appropriate to provide a basis for our opinion. that a material uncertainty exists, we are required to draw
attention in our auditor’s report to the related disclosures in the
Responsibili�es of Management and Those Charged with Governance financial statements or, if such disclosures are inadequate, to
for the Financial Statements and Internal Controls modify our opinion. Our conclusions are based on the audit
Management is responsible for the preparation and fair presentation evidence obtained up to the date of our auditor’s report.
of the financial statements in accordance with International Financial However, future events or conditions may cause the Company to
Reporting Standards (IFRSs), and for such internal control as cease to continue as a going concern.
management determines is necessary to enable the preparation of
• Evaluate the overall presentation, structure and content of the
financial statements that are free from material misstatement,
financial statements, including the disclosures, and whether the
whether due to fraud or error. The Companies Act, 1994 require the
financial statements represent the underlying transactions and
management to ensure effective internal audit, internal control and
events in a manner that achieves fair presentation.
risk management functions of the company.

In preparing the financial statements, management is responsible for

assessing the Company’s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless management either
intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

Those charged with governance are responsible for overseeing the

financial reporting process.

Auditors’ Responsibili�es for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the

financial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditors’ report that
includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in
accordance with ISAs will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.

288
Report on other Legal and Regulatory Requirements

In accordance with the Companies Act 1994, we also report the following:

(a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit and made due verification thereof;

(b) in our opinion, proper books of account as required by law have been kept by the company so far as it appeared from our
examination of those books;

(c) the statement of financial position and statement of comprehensive income dealt with by the report are in agreement with
the books of account and returns;

Dated, Dhaka -SD

10 April, 2022 Hoque Bha�acharjee Das & Co.
DVC : 2204110824A8380669 Chartered Accountants
Signed by :
Avijit Bha�acharjee, FCA
Partner
Enrollment No: 824

289
 NRBC Bank Securi�es Limited
Statement of Financial Posi�on
As at December 31, 2021

At Dec 31, 2021 At Dec 31, 2020

Par�culars Notes
Taka Taka
Proper�es & Assets
Non Current Assets:
Property, Plant & Equipment 4 9,420,236 5,851,466

Investments :
Investment in Share & Stock 5 340,429,691 359,359,305

Loan and Advances :

Margin Loan 6 2,000,291,811 848,297,183

Current Assets:
Advances, Deposits, Prepayments, Receivables 7 252,362,193 86,712,000
Cash and Cash Equivalents 8 86,331,857 196,475,918
338,694,051 283,187,918
Total Proper�es & Assets 2,688,835,788 1,496,695,872

Equity & Liabili�es

Shareholders' Equity: 601,240,381 441,692,735

Share Capital 9 400,000,000 400,000,000
Retained Earnings 10 197,072,101 41,692,735
Capital Reserve 11 4,168,280

Current Liabili�es 978,942,923 555,003,137

Other Liabili�es 12 424,625,113 258,397,822
Overdra� NRBC Bank Ltd 13 554,317,810 296,605,315

Long Term Liabili�es

Long Term Loan 14 1,108,652,484 500,000,000

Total Equity and Liabili�es 2,688,835,788 1,496,695,872

The annexed notes form an integral part of the Financial Statements

-SD- -SD- -SD

Chief Execu�ve Officer Director Chairman

Signed as per annexed report on even date

-SD-
Hoque Bha�acharjee Das & Co.
Place: Dhaka Chartered Accountants
Date: 10 April, 2022 Signed by
DVC: 2204110824A8380669 Avijit Bha�acharjee, FCA
Partner
Enrollment No: 824

290
 NRBC Bank Securi�es Limited
Statement of Profit or Loss and Other Comprehensive Income
For the year ended December 31, 2021

2021 2020
Par�culars Notes
Taka Taka

Revenue 14 511,026,715 95,680,644

Less : Direct Expense/Cost of Revenue 15 145,219,330 29,743,715
Gross Profit 365,807,385 65,936,929
Opera�ng Expenses
Salary & Allowances 16 48,924,204 26,405,094
Rent, Taxes, Insurance, Electricity, etc. 17 3,563,012 2,282,081
Legal/Professional/Preliminary Expenses 18 249,475 123,935
Stamp, Postage & Telecommunica�on etc. 19 1,210,301 955,045
Sta�onery, Prin�ng, Adver�sement, etc. 20 814,117 377,063
Board of Directors' Mee�ng Expense 21 153,873 186,889
Audit Fee 69,000 57,500
Deprecia�on & Repair of Property, Plant & Equipment 22 2,433,033 2,033,232
Other Expenses 23 3,912,603 1,091,838
Total Opera�ng Expenses 61,329,618 33,512,677
Opera�ng Profit/(Loss) 304,477,767 32,424,252
Add : Other Financial Income 24 358,044 250,297
Less: Other Financial Expense 25 (598,672) (228,710)
Opera�ng Profit/(Loss) before Provision 304,237,138 32,445,839
Provision against Diminu�on of Share & Margin loan 26 25,081,841 (19,884,550)
Total Provision 25,081,841 (19,884,550)
Profit/(Loss) before Taxa�on 279,155,297 52,308,802
Provision for Taxa�on 79,607,651 10,625,999
Current Tax 27 79,579,822 10,838,344
Deferred Tax 28 27,829 (212,345)
Profit/Loss a�er taxa�on 199,547,646 41,682,803
Other Comprehensive Income - -
Total Comprehensive Income/(loss) 199,547,646 41,682,803

Capital Reserve 4,168,280

Distributable Profit 195,379,366

Earnings Per Share (EPS) 29 4.99 1.04

The annexed notes form an integral part of the Financial Statements.

-SD- -SD- -SD

Chief Execu�ve Officer Director Chairman

Signed as per annexed report on even date

-SD-
Hoque Bha�acharjee Das & Co.
Place: Dhaka Chartered Accountants
Date: 10 April, 2022 Signed by
DVC: 2204110824A8380669 Avijit Bha�acharjee, FCA
Partner
Enrollment No: 824

291
 NRBC Bank Securi�es Limited
Statement of Cash Flows
For the year ended December 31, 2021
Par�culars At Dec 31, 2021 At Dec 31, 2020
Taka Taka

Cash flows from opera�ng ac�vi�es

Cash received from :
Brokerage Commission/Charge Receipts 239,255,373 43,898,004
Interest income Received on Margin Loan 190,817,233 43,229,986
Dividend Received 10,663,045 7,454,650
Gain on Sale of Shares and Debentures 70,291,063 1,098,004
Interest on Deposit for account with Bank 358,044 250,297
511,384,759 95,930,941
Cash payment to :
Laga Charge to DSE 23,283,467 4,100,041
Interest paid for OD & Term loan 114,193,535 20,486,010
CDBL Charges paid for Share Trading (Net) 1,430,380 724,914
DES/BSEC/RJSC Fees & Charge paid for facilita�ng Trade 10,502,225 242,473
Paid to the Employee 36,068,677 25,035,728
Legal/Preliminary Expense 249,475 123,935
Audit Fees 57,500 57,500
Payments to suppliers/Service providers 10,705,787 (6,984,578)
Paid for Other Opera�ng Ac�vi�es 5,111,783 1,643,805
201,602,830 45,429,828
Opera�ng profit before changes in opera�ng assets & liabili�es 309,781,928 50,501,114
Increased/decreased in opera�ng assets and liabili�es
Increased/(Decreased) of Deposit from client against Share purchased (104,129,393) 91,998,101
Increased/(Decreased) of Deposit from client against IPO Fund 146,407,574 8,449
(Increased) / Decreased in Opera�ng Assets 42,278,181 92,006,550
Net cash from/(used in) opera�ng ac�vi�es (A) 352,060,109 142,507,664
Cash used in Inves�ng Ac�vi�es
Purchase of Property, Plant and Equipment (5,555,168) (669,565)
Investment in Shares/Securi�es 18,929,614 4,123,008
Advances, deposits, prepayments, Receivables (165,678,023) (45,946,612)
Margin Loan (1,136,265,572) (709,883,006)
Net cash used in Inves�ng Ac�vi�es (B) (1,288,569,149) (752,376,175)
Cash flows from Financing Ac�vi�es
Loan From Parent Company (NRBC Bank Ltd)[Term & OD facility] 611,415,533 702,732,669
Loan From Other Parent Company [OD facility] 254,949,446 -
Dividend Paid (40,000,000) (12,000,000)
Net cash flows from financing ac�vi�es (C) 826,364,979 690,732,669

Net Surplus/(Deficit) in Cash and Bank Balances for the year (A+B+C) (110,144,061) 80,864,157
Cash and Bank Balance at beginning of the year 196,475,918 113,902,004
Cash & Bank Balance at the end of the year (*) 86,331,857 194,766,161
(*) Cash & Bank Balance:
Cash in Hand 10,018,246 39,295
Cash at Bank 76,313,611 196,436,623
86,331,857 196,475,918

The annexed notes form an integral part of the Financial Statements.

-SD- -SD- -SD
Chief Execu�ve Officer Director Chairman
Signed as per annexed report on even date
-SD-
Hoque Bha�acharjee Das & Co.
Place: Dhaka Chartered Accountants
Date: 10 April, 2022 Signed by
DVC: 2204110824A8380669 Avijit Bha�acharjee, FCA Partner
Enrollment No: 824

292
 NRBC Bank Securi�es Limited
Statement of Changes in Equity
As at December 31, 2021

Par�culars Paid up capital Retained Earnings Capital Reserve Total

Opening Balance at January 01, 2020 400,000,000 41,692,735 441,692,735

Net Profit a�er Tax for the year - 195,379,366 195,379,366

Add : Transfer to Capital Reserve - 4,168,280 4,168,280
Less: 3% cash Dividend Paid for FY 2020 40,000,000 40,000,000

Balance at December 31, 2021 400,000,000 197,072,101 4,168,280 601,240,381

Balance at December 31, 2020 400,000,000 41,692,735 441,692,735

-SD- -SD- -SD

Chief Execu�ve Officer Director Chairman

Signed as per annexed report on even date

-SD-
Hoque Bha�acharjee Das & Co.
Place: Dhaka Chartered Accountants
Date: 10 April, 2022 Signed by
DVC: 2204110824A8380669 Avijit Bha�acharjee, FCA
Partner
Enrollment No: 824

293
 NRBC Bank Securi�es Limited
Selec�ve Notes to the Prepara�on of Financial Statements
For the year ended December 31, 2021

1.1 Nature of Business Ac�vi�es 2.0 Significant accoun�ng policies and basis of prepara�on of
NRBC Bank Securi�es Limited (the Company), a majority owned financial statements
subsidiary company of NRBC Bank Limited was incorporated as
2.1 Statement of compliance:
a Public limited company in Bangladesh on 20 September 2015
bearing cer�ficate of incorpora�on no. C-125904/2015 under The financial statements of the Company are prepared on a
the Companies Act 1994 having its registered office at 114 going concern basis under historical cost conversion in
Mo�jheel Commercial Area, Dhaka - 1000. accordance with Interna�onal Financial Repor�ng Standards
(IFRS). The financial statements has also been made in
1.2 Nature of business accordance with the Companies Act 1994, the Securi�es and
NRBC Bank Securi�es Limited (the Company) has two Licenses Exchange Rules 1987, the lis�ng Rules of Dhaka Stock
to carry out its Business : Exchange, Guidelines from Bangladesh Bank, other applicable
laws and regula�ons.
a. Broker License # wbeÜb3.1/wW Gm B-82/2016/542 /07.09.2016 Bs
b. Dealer License # wbeÜb3.1/wW Gm B-82/2016/543 /07.09.2016 Bs NRBC Bank Securi�es Ltd. was also registered with the Bangla-
desh Securi�es and Exchange Commission (BSEC) to act as
Aforesaid licenses issued by Bangladesh Securi�es & Exchange Stock Dealer for carrying its own investment in the capital
Commission (BSEC) for buy, sell and deal in shares, stocks, market.
debentures and other securi�es under stock exchange in
Bangladesh and/ or elsewhere as well as to carry on any 2.2 Use of es�mates and judgments
business as permissible for a broker and dealer �me to �me The prepara�on of financial statements are inconformity with
circular issued by Bangladesh Securi�es & Exchange Commis- IFRS requires management to make judgments, es�mates and
sion (BSEC). assump�ons that affect the applica�on of accoun�ng policies
and the reported amounts of assets, liabili�es, income and
a. Broker License: In Persuasion of Broker License, NRBC Bank
expenses. Actual results may differ from these es�mates.
Securi�es Limited engaged in trading of Share & Securi�es on
Es�mates and underlying assump�ons are reviewed on an
behalf Poten�al Investors of capital market, hence Brokerage
ongoing basis. Revisions to accoun�ng es�mates are
Commission/Charge are treated as revenue according to
recognised in the periods in which the es�mate were made and
Securi�es and Exchange Ordinance, 1969 (XVII of 1969) and
in any future periods affected.
Securi�es and Exchange Commission ( Stock-Broker, Stock
Dealer & Authorized Representa�ve) Rule, 2000 Dated Novem-
2.3 Going Concern Assessment
ber 29, 2000.
The Company has adequate resources to con�nue in opera�on
NRBCBSL extended margin loan to the Poten�al Investors of for foreseeable future. For this reasons the directors con�nue
capital market as per Margin Rules, 1999 Dated April 1999 and to adopt going concern basis in preparing the financial
No. BSEC/CMRRCD/2017-357/221/Admin/89 dated 22 May statements. The Probable credit facili�es from parents and
2019 wherein Interest Income is treated as Revenue. Others as well as adequate resources of the Company provide
sufficient funds to meet the present requirements of its
b. Dealer License: In Persuasion of Dealer License, NRBC Bank businesses and opera�ons in the future.
Securi�es Limited engaged itself Buying & Selling Stock of its
own name, hence Capital Gain/loss and Dividend of the holding 2.4 The financial statements referred to here comprise :
Share & Securi�es are treated as revenue according to a. Statement of Financial Posi�on
Securi�es and Exchange Ordinance, 1969 (XVII of 1969) and b. Statement of Profit or Loss and Other Comprehensive
Securi�es and Exchange Commission ( Stock-Broker, Stock Income
Dealer & Authorized Representa�ve) Rule, 2000 Dated Novem- c. Statement of Cash Flows
ber 29, 2000 d. Statement of Changes in Equity and
e. Notes to the Financial Statements

2.5 Statements of Cash flows

Statement of cash flows is prepared in accordance with the
Interna�onal Accoun�ng Standard-7 “Statement of Cash
Flows”.

294
 NRBC Bank Securi�es Limited
Selec�ve Notes to the Prepara�on of Financial Statements
For the year ended December 31, 2021

2.6 Repor�ng period a�ributable cost of bringing the assets to its working condi�on
These financial statements cover one calendar year from 1 for its intended use inclusive of inward freight, du�es and
January to 31 December. non-refundable taxes.

2.7 Func�onal and presenta�onal currency 3.2 Deprecia�on policy

The financial statements are presented in Bangladesh Taka, Full month’s deprecia�on has been charged on addi�ons
which is the Company’s func�onal currency. irrespec�ve of date when the related assets are put into use
and no deprecia�on is charged for the month of disposal.
3.0 Consistency accoun�ng policies Deprecia�on is provided at the following rates on straight-line
The accoun�ng policies set out below have been applied basis in accordance with IAS 16 over the periods appropriate to
consistently to all periods presented in these financial the es�mated useful lives of the different types of assets:
statements.

Categories of Assets Rate of Deprecia�on (%)

Furniture and fixtures 10
Office Equipments 10
Computer and Accessories 20
Bangladesh Made Computer So�ware 20
Motor Vehicles 30
Professionals and Reference Books 10

3.3 Trading Right En�tlement Cer�ficate (TREC] (Membership) 3.4 Investment in Securi�es
with Dhaka Stock Exchange Ltd (DSE) and Chi�agong Stock Investment in listed securi�es are to be recognized at cost.
Exchange Ltd. (CSE): Quarterly impairment test will be carried out by comparing cost
NRBC Bank Securi�es Ltd. obtained Trading Right En�tlement with market price as a whole of its total holdings. In case of
Cer�ficate (TREC] from Dhaka Stock Exchange Ltd (DSE) having diminu�on of market value compared to cost, provision will be
no. 082 and As per the Demutualiza�on Act, 2013, Trading made on por�olio basis but no unrealized gain will be booked
Right En�tlement Cer�ficate (TREC) has been allo�ed when market value exceeds cost.
7,215,106 no. of ordinary shares of Dhaka Stock Exchange
Limited (DSE).
3.5 Margin loan/Loan to customer
In persuasions of Demutualiza�on Act, 2013, Dhaka Stock The Company extends margin loan to the por�olio investors at
Exchange sold 25% share holding of 7,215,106 to Strategic an agreed ra�o (between investors deposit and loan amount)
Partner M/s. Shenzhen Stocks & Shanghai Stock Exchange of purchased securi�es against the respec�ve investor account
@Tk.21.00 in 2018 and, therefore, holding of is reduced to as per prescribe Guideline of BSEC. The investors are to
5,411,330 shares and, at the same, DSE's Trading Right maintain the margin as per set rules and regula�ons. The
En�tlement Cer�ficate (TREC] has no value as per Demutualiza- margin is monitored on daily basis as it changes due to change
�on Act, 2013. in market price of shares. If the margin falls below the
any has deposited Tk. 30,000,000.00 as Security Money against minimum requirement, the investors are required to deposit
TREC # 152 with Chi�agong Stock Exchange Ltd. (CSE) addi�onal fund to maintain margin as per rules otherwise the
men�oned in the Note:7.01 company take necessary steps to bring the margin to the
required level within prescribed guideline of BSEC.
3.1 Property, plant and equipment
Items of property, plant and equipment are measured at cost
less accumulated deprecia�on and impairment losses, as per
IFRS /IAS 16: Property, Plant and Equipment. The cost of acquisi-
�on of an asset comprises its purchase price and any directly

295
3.6 Advance, deposits and prepayments 3.13.2 Brokerage commission
Advances are ini�ally measured at cost. A�er ini�al Brokerage commission is recognized as income when selling or
recogni�on, advances are carried at cost less deduc�ons, buying order executed.
adjustments or charges to other account heads. Deposits
are measured at payment value. Prepayments are 3.13.3 Other Business Income
ini�ally measured at cost. A�er ini�al recogni�on, Other income, comprises of service charges and capital gain, is
prepayments are carried at cost less charges to income recognized when service rendered and sell process completed.
statement.
3.14 Risk and Uncertainty Management
3.7 Deferred taxa�on The business ac�vi�es of the Company expose it to a variety of
Deferred tax liabili�es are the amount of income taxes payable in risks, namely market risks, interest rate risk, liquidity risk and
future periods in respect of taxable temporary differences. credit risk. The Company’s risk management strategies focus on
Deferred tax assets are the amount of income taxes recoverable in the un-predictability of these elements and seek to minimise the
future periods in respect of deduc�ble temporary Differences. poten�al adverse effects on its financial performance.
Deferred tax assets and liabili�es are recognized for the future tax
The financial risk management for the Company is driven by the
consequences of �ming differences arising between the carrying
Company’s Management, in close co-ordina�on with internal /
values of assets, liabili�es, income and expenditure and their
external experts. The management periodically reviews the
respec�ve tax bases. Deferred tax assets and liabili�es are
exposures to financial risks and the measures taken for risk
measured using tax rates and tax laws that have been enacted or
mi�ga�on and the effec�vness thereof.
substan�ally enacted at the repor�ng date. The impact on the
account of changes in the deferred tax assets and liabili�es have a) Market Risk
also been recognized in the statement of comprehensive income Market risk is the possibility of a specific business incurring losses
as per IAS-12 “Income Taxes" due to factors affec�ng the market or the industry that the
business belongs to. Some known causes of market risk include
3.8 Provision for income tax economic recessions, shi�s in interest rates and poli�cal unrest.
Provision for current income tax has been made in compliance
with relevant provisions of income tax law 1984 along with (i) Interest rate risk
Financial Act, 2020 Interest rate risk primarily arises from floa�ng rate borrowing.
Interest rate risk is the risk that the fair value or future cash flows
3.9 Cash and cash equivalents of a financial instrument will fluctuate because of changes in
Cash and cash equivalents comprise cash in hand and cash at market interest rates.However, currently the company is not
bank, which are held and available for use by the company exposed to any borrowings with floa�ng interest rate.
without any restric�on and are readily conver�ble to a known
b) Credit risk
amount of cash and that are subject to an insignificant risk of
Credit risk refers to the risk of default on its obliga�on by the
change in value.
counter-party, the risk of deteriora�on of creditworthiness of the
counter-party as well as concentra�on risks of financial assets,
3.10 Share Capital
and thereby exposing the Company to poten�al financial losses.
Ordinary shares are classified as equity when there is no
The Company is exposed to credit risk mainly with respect to
contractual obliga�on to transfer cash or other financial assets
margin loan.

3.11 Payables c ) Liquidity risk

Trade and other payables will be stated at their nominal values. Liquidity risk arises from the Company's inability to meet its cash
flow commitments on due dates. As a prudent liquidity risk
3.12 Other Liabili�es for Expenses management measure, the company closely monitors its liquidity
Liabili�es are to be recognized for the goods and services posi�on and deploys a robust cash management system.
received, whether paid or not for those goods and Accordingly, the company maintains credit facili�es sufficient to
services. Payables will not interest bearing and are stated at their honour its commitments. The company's treasury department
nominal values. monitors rolling forcast of company's cash flow posi�on and
ensures that the company meets its financial obliga�ons at all
3.13 Revenue from Contracts with Customers
�mes including con�ngencies.
Revenue is recognized only when it is probable that the economic
benefits associated with the transac�on will flow to the company d) Risk impact on account of Covid-19
in accordance with the Interna�onal Financial Repor�ng The Company has considered the possible effects that may result
Standard (IFRS) 15 “Revenue from Contracts with Customers” from the pandemic rela�ng to COVID-19. In developing the
assump�ons rela�ng to the possible future uncertain�es in the
3.13.1 Interest income global economic condi�ons because of this pandemic, the
Income from margin loan/bank deposit are recognised on accrual Company, as at the date of approval of these financial statements
basis. Such income is calculated considering daily margin loan has used internal and external sources of informa�on.
balance of the respec�ve par�es or balances with the banks.

296
3.15 Event a�er the repor�ng period Related Par�es include the Company’s Directors, key
As per IAS - 10 “Events a�er the Repor�ng period”, events a�er management personnel, associates, companies under common
the repor�ng period are those events, favorable and directorship etc. as per IAS 24 “Related Party Disclosures”. All
unfavorable, that occur between the end of the repor�ng period transac�ons involving related par�es arising in the normal course
and the date when the financial statements are of business are conducted as arm’s length transac�ons. Related
authorized for issue. Two types of events can be iden�fied par�es disclosure given in the Note-32

i) those that provide evidence of condi�ons that existed at the

3.17 Authoriza�on of the financial statements for issue
end of the repor�ng period (Adjus�ng events a�er the
The financial statements of the company have been authorized
repor�ng period) and
for issue by the Board of Directors on April 11, 2002 of its 27th
mee�ng
ii) those that are indica�ve of condi�ons that arose a�er the
repor�ng period (Non- adjus�ng events a�er the repor�ng 3.18 General
period). i. Figures rela�ng to previous year/period included in this
report have been rearranged, wherever considered necessary
There was no material events which have occurred a�er the ii. The figures appearing in these financial statements are
repor�ng period which could affect the values stated in the expressed in Taka currency and rounded off to the nearest
financial statements except men�on in note 31 Taka

3.16 Related party transac�on

As per IAS 24 “Related Party Disclosures”, a related party is a
person or en�ty that is related to the en�ty (i.e. NRBCBSL) that is
preparing its financial statements. Related party transac�on is a
transfer of resources, services, or obliga�ons between a
repor�ng en�ty and a related party, regardless of whether a price
is charged as per IAS 24

297
 At Dec 31, 2021 At Dec 31, 2020
Taka Taka

4.00 Property, Plant and Equipment

At Cost
Opening Balance 14,694,489 14,024,924
Add: Addi�on During the Year(Net) 5,555,168 669,565
20,249,657 14,694,489
Less: Accumulated Deprecia�on 10,829,421 8,843,023
Wri�en Down Value 9,420,236 5,851,466

A Schedule of Property, Plant and Equipment is given in Annexure-1 for accoun�ng & Tax Purpose

5.00 Investment in Share & Stock

Quoted Share (Publicly Traded listed with DSE) 90,694,386 82,163,999
Cost of Acquisi�on of DSE TREC & Share 213,749,990 213,749,990
Ini�al Public Offer - 27,460,000
Investment in Share Strategic Investment A/c [Note: 5.01] 35,985,316 35,985,316
340,429,691 359,359,305
A Schedule of Investments in Shares is given in Annexure -2
5.01 Investment in Share Strategic Investment 35,985,316 35,985,316

According to Demutualiza�on Act 2013, DSE was agreed to sale 25% share to Strategic partner to Shenzhen Stock Exchange & Shanghai
Stock Exchange. At the same Na�onal Board of Revenue(NBR) issued এস.আর.ও নং ৩১৯- আইন/আয়কর/২০১৮- Income Tax Ordinance
1984 dated October 30, 2018 stated that all proceed of selling to Strategic partner will be operated in BO Account 1205950066923412.
Therefore, company could not recognized as capital gain due to all amount being block to the aforesaid BO Account 1205950066923412
un�l comple�on of three year i.e. March 2022.

6.00 Loan and Advances

Margin Loan 2,000,291,811 848,297,183
2,000,291,811 848,297,183

This represent amount of loan to the customer against shares purchased under prescribed guideline of BSEC

7.00 Advances, deposits, prepayments, Receivables

Security Deposit (Note: 7.01) 30,200,000 200,000
Advance Income Tax (Note: 7.02) 85,100,829 33,835,352
Advance Others (Note: 7.03) 3,002,750 1,498,503
Accounts Receivable (Note: 7.04) 133,996,906 51,088,607
Deferred Tax Assets (Note: 7.05) 61,709 89,538
252,362,193 86,712,000

7.01 Security deposits

Security Deposit with Central Depository Bangladesh Ltd. (CDBL) 200,000 200,000
Security Deposit with Chatrogram Stock Exchange Ltd [Agst Membership] 30,000,000
30,200,000 200,000
7.02 Advance Income Tax
On Turnover under Sec�on 53BBB of ITO 1984 71,197,565 22,608,210
Adv Tax Corporate U/S 74 and 64 of ITO 1984 525,574 -
On Bank Interest under Sec�on 53F of ITO 1984 1,523,734 1,489,795
On Dividend Income under Sec�on 54 of ITO 1984 9,913,515 7,796,906
Advance Tax on Motor Vehicle under Sec�on 68B of ITO 1984 46,500 46,500
Advance Tax- Strategic Investment u/s 53H of ITO 1984* 1,893,941 1,893,941
85,100,829 33,835,352

Gain Tax on Sale of Share (25% i.e. 1,803,777X21 less cost) no. Share sale to Shenzhen Stocks & Shanghai Stock Exchange @Tk.21.00
Through DSE in 2018 which to be u�lized a�er expiry of 3 (Three) Years as S.R.O No 319 - Ayin/Aykor/2018 Dated Nov-11-2018.

298
 At Dec 31, 2021 At Dec 31, 2020
Taka Taka

7.03 Advance Others

Advance Office Rent (Head Office) 2,805,750 1,035,300
Advance to suppliers 197,000 463,203
3,002,750 1,498,503
7.04 Accounts Receivable
Receivable from Merchant Bank - 11,229,132
Dhaka Stock Exchange Ltd. (Se�lement A/c) Broker 40,780,281 24,005,825
Dhaka Stock Exchange Ltd. (Se�lement A/c) Dealer 93,216,625 15,853,650
133,996,906 51,088,607
7.05 Deferred Tax Assets
Opening Balance from Note 11.04 89,538 (122,807)
Add: Addi�on During the Year (27,829) 212,345
61,709 89,538
Less: Adjustment during the period
- -
61,709 89,538
8.00 Cash and Cash Equivalents
Cash in Hand 10,018,246 39,295
Cash at Bank (Note: 08.01) 76,313,611 196,436,623
86,331,857 196,475,918
8.01 Cash at Bank
NRB Commercial Bank Limited, Principal Branch (a) 27,565,405 172,863,419
NRB Commercial Bank Limited Cus A/C 0101-360-099 26,828,240 171,265,266
** NRB Commercial Bank Limited IPO A/C 0101-360-098 5,425 3,846
NRB Commercial Bank Limited Opera�on A/C 0101-364-002 273,267 1,594,307
NRB Commercial Bank Limited Opera�on A/C 0101-360-164 458,473 -
Al-Arafa Islami Bank Limited, Mo�jheel Branch (b) 48,728,057 23,573,204
Al-Arafah Islami Bank Limited Cus A/C 0021220006396 48,402,399 23,568,184
Al-Arafah Islami Bank Limited Dealer A/C 0021220006385 325,658 5,021
The City Bank Bank Limited,Gulshan Branch (c) 20,149 -
The City Bank Bank Limited Strategic A/C3103261464001 20,149 -
Total (a+b+c) 76,313,611 196,436,623
** Balance shown as minimum balance due to banking policy
9.00 Share Capital
Authorized Capital
100,000,000 Ordinary Shares of Taka 10.00 each 1,000,000,000 1,000,000,000
Issued, Subscribed and Paid-up Capital
40,000,000 Ordinary Shares of Taka 10.00 each fully paid 400,000,000 400,000,000

Shareholding posi�on at December 31, 2021 is as follows:

Name of Shareholders No. of shares
NRB Commercial Bank Limited 36,000,000
Dr. Toufique Rahman Chowdhury 200,000
Mr. Md. Shahidul Ahsan 200,000
Mr. Mohammed Mahtabur Rahman 200,000
Ms. Anika Rahman 200,000
Mr. Marzanur Rahman 200,000
Mr. A M Saidur Rahman 200,000
Mr. A.K.M Mostafizur Rahman 228,570
Mr. Abu Bakr Chowdhury 200,000
Mr. Mohammad Shahid Islam 228,580
Mr. Loquit Ullah 200,000

299
 At Dec 31, 2021 At Dec 31, 2020
Taka Taka

Mr. Tamal S.M Parvez 228,570

Mr. Rafikul Islam Mia Arzoo 228,570
Mr. Md. Mohiuddin 228,570
Ms. Shamimatun Nasim 200,000
Mr. Mohammed Adnan Imam 228,570
Mr. Mohammed Oliur Rahman 28,570
Mr. Dr. Rafiqul Islam Khan 200,000
Mr. Mohammad Zakaria Khan 200,000
Mr. Aziz U Ahmad 200,000
Mr. Mohammed Manzurul Islam 200,000
40,000,000

10.00 Retained Earnings

Opening Balance 41,692,735 12,009,932
Add: Total Comprehensive Income /(Loss) during the year 199,547,646 41,682,803
241,240,381 53,692,735
Less: Dividend Paid for 2020 40,000,000 12,000,000
Less: Transfer to Capital Reserve 4,168,280 -
197,072,101 41,692,735

11.00 Capital Reserve

Opening Balance - -
Add: During the year 4,168,280 -
4,168,280 -

According to No�fica�on No. BSEC/CMRRCD/2017-357/221/Admin/89 dated May 19, 2019 of Bangladesh Securi�es &
Exchange Commission (BSEC), All registered en�ty must maintained @10% as Capital Reserve on basis of last year Net
income

12.00 Other Liabili�es

Payable to Stock Exchanges (Note: 11.01) 2,223,319 217,237
Payable to Clients (Note: 11.02) 106,863,215 212,998,690
Current Income Tax Payable (Note: 11.03) 106,118,160 26,538,338
Deferred Tax Liability (Note: 11.04) - -
Statutory Audit Fee payable 69,000 57,500
TDS at Source 809,428 2,497,616
VDS at Source 129,099 61,347
Incen�ve and Performance Bonus 16,400,000 3,544,473
Provision for Diminu�on of Shares/Investment (Note: 11.05) 5,236,214 -
Interest Suspense on Margin Loan [Default Margin Loan] 15,729,056
Interest Payable on Term Loan - 4,190,277
Payable with Merchant Bank 4,784,900 8,282,822
Provision for loss on Margin Loan @ 1% (Note: 11.06) 19,845,628 -
IPO Applica�on Fund 146,407,574 -
Other payable 9,521 9,521
424,625,113 258,397,822
12.01 Payable to Stock Exchanges
Dhaka Stock Exchange Ltd. Broker 2,161,788 210,228
Dhaka Stock Exchange Ltd. Dealer 61,531 7,009
2,223,319 217,237

12.02 Payable to Clients 106,863,215 212,998,690

This represents amount payable to customers against sale of shares and/or receipts for purchasing of shares. No payable
for Client IPO

300
 At Dec 31, 2021 At Dec 31, 2020
Taka Taka

12.03 Current Income Tax Payable

Opening Balance 26,538,338 15,699,994
Add: Addi�on During the Year 79,579,822 10,838,344
106,118,160 26,538,338
Less: Adjustment during the period -
106,118,160 26,538,338
12.04 Deferred Tax Liability
Opening Balance - -
Add: Addi�on During the Year - -
- -
Less: Adjustment During the Year - -
- -
12.05 Provision for Diminu�on of Shares/Investment
Opening Balance - 19,884,550
Add: Addi�on During the Year 5,236,214 (19,884,550)
5,236,214 -
Less: Adjustment During the Year - -
5,236,214 -

12.06 Provision for loss on Margin Loan

Margin Loan 2,000,291,811
Less : Interest Suspense on Margin Loan [Default Margin Loan] 15,729,056
Base for Provision 1,984,562,755 -
1% Provision for loss on Margin Loan as BSEC Guidline 19,845,628 -

According to No�fica�on No. BSEC/CMRRCD/2017-357/221/Admin/89 of Bangladesh Securi�es & Exchange Commission (BSEC), All
registered en�ty must maintained @1% Provision on outstanding margin exposure with net Interest Suspense against Margin Loan

13.00 Overdra� Facility From NRBC Bank Ltd

NRBC Bank Limited 299,368,364 296,605,315
The City Bank Limited 254,949,446 -
554,317,810 296,605,315

* Overdra� facility from NRBC Bank Limited (Parent Company) having Limit of Tk.30,00,00,000 @8% Per annum

** NRBC Bank Securi�es Limited also availed another Overdra� facility from The City Bank Limited, Gulshan Br. having
Limit of Tk. 25,00,00,000 @9% Per annum

14.00 Long Term Loan

Term Loan General * 958,126,651 500,000,000
Term Loan Special ** 150,525,833 -
1,108,652,484 500,000,000

* NRBC Bank Securi�es Ltd. availed Term Loan facility 10 year tenor from NRBC Bank Limited (Parent Company) having Limit of
Tk.100,00,00,000 @8% Per annum with quarterly installment under General category.

** Term Loan under special Category availed from NRBC Bank Limited (Parent Company) having limit of Tk. 150,000,000.00 as per DOS
Circular 01, Dated February 10, 2020 for investment in capital market @8% Per annum with quarterly installment.

2021 2020
Taka Taka
15.00 Revenue
Brokerage Commission/Charge * 239,255,373 43,898,004
Interest Income on Margin Loan ** 190,817,233 43,229,986
Dividend Income *** 10,663,045 7,454,650
Gain on Sale of Shares and Debentures (Net) *** 70,291,063 1,098,004
511,026,715 95,680,644

301
 2021 2020
Taka Taka

NRBC Bank Securi�es Limited (the Company) has two Licenses to carry out its Business :

a. Broker License # wbeÜb3.1/wW Gm B-82/2016/542 /07.09.2016 Bs

b. Dealer License # wbeÜb3.1/wW Gm B-82/2016/543 /07.09.2016 Bs

a. Brokerage Commission/Charge Through Broker License *: In Persuasion of Broker License, NRBC Bank Securi�es Limited engaged in
trading of Share & Securi�es on behalf Poten�al Investors of capital market, hence Brokerage Commission/Charge are treated as revenue
according to Securi�es and Exchange Ordinance, 1969 (XVII of 1969) and Securi�es and Exchange Commission ( Stock-Broker, Stock Dealer
& Authorized Representa�ve) Rule, 2000 Dated November 29, 2000.

Interest Income on Margin Loan ** : NRBCBSL extended margin loan to the Poten�al Investors of capital market as per Margin Rules, 1999
Dated April 1999 and No. BSEC/CMRRCD/2017-357/221/Admin/89 dated 22 May 2019 wherein Interest Income is treated as Revenue.

b. Capital Gain/loss and Dividend Through Dealer License ***: In Persuasion of Dealer License, NRBC Bank Securi�es Limited engaged itself
Buying & Selling Stock of its own name, hence Capital Gain/loss and Dividend of the holding Share & Securi�es are treated as revenue
according to Securi�es and Exchange Ordinance, 1969 (XVII of 1969) and Securi�es and Exchange Commission ( Stock-Broker, Stock Dealer
& Authorized Representa�ve) Rule, 2000 Dated November 29, 2000

Furthermore, Aforesaid Revenue is recognized according to No�fica�on No. BSEC/CMRRCD/2017-357/221/Admin/89 dated May 29,
2019 of Bangladesh Securi�es & Exchange Commission (BSEC).

16.00 Direct Expense/Cost of Revenue

Laga Charge [Paid to DSE for Trading] 23,283,467 4,100,041
Interest Expense on OD & Term loan (Note : 16.01) 110,003,258 24,676,287
CDBL Charges -Share Trading (Net)-VAT exempted 1,430,380 724,914
DSE/BSEC/RJSC Fees & Charge (Note : 16.02) 10,502,225 242,473
145,219,330 29,743,715

16.01 Interest Expense for Loan from Schedule Bank

The Company availed loan facili�es in form of Overdra� and Term Loan from NRB Commercial Bank Limited and The City Bank limited for
margin loan facitli�es to the Poten�al/Intendant Investors of capital market as per Margin Rules, 1999 Dated April 28, 1999

16.02 DSE/BSEC/RJSC Fees & Charge

DSE/RJSC/Trade/Broker Associa�on Membership Fee 95,708 25,073
TREC Renewal Fees to DSE 222,334 163,100
Authorized Representa�ve Fee to DSE 117,500 54,300
Investor Protec�on Fund Fees to DSE 66,683 -
Membership Fees to CSE [Against TREC No.-152] * 10,000,000 -
10,502,225 242,473
* Membership Fees is tax exempted as per SRO -210/AIN/2012 Dated July 01, 2013

17.00 Salary and Allowance

Basic Salary 10,909,298 7,392,032
Allowances 16,095,488 10,654,363
Incen�ve/Performance Bonus 16,400,000 3,543,973
Salaries & Allowances -Security & Cleaning Staff 1,026,501 840,171
Over Time to casual staff 52,038 23,229
Fes�val Bonus 1,845,000 1,177,200
Ex-Gra�a-Security & Cleaning Sa�f 69,340 54,400
Company Contribu�on to Recognized Gratuity Fund 1,578,638 2,156,683
Company Contribu�on to Recognized Provident Fund 947,901 563,043
48,924,204 26,405,094

302
 2021 2020
Taka Taka

18.00 Rent, Taxes, Insurance, Electricity, etc.

Office Rent 2,611,134 1,640,130
Rate & Taxes (Note : 18.01) 20,000 19,500
Insurance Premium Expenses [incl. VAT] - -
Power and Electricity Expense [incl. VAT] 636,103 369,251
WASA, Gas and Sewerage Expense [incl. VAT] 20,975 -
Common U�lity Bill (Electricity, Gas, Wasa, Security Guard Salary, etc.) 274,800 253,200
3,563,012 2,282,081
18.01 Rate & Taxes
Patent /Trade License/Holding Tax/Sign Board Tax 20,000 19,500
19.00 Legal/Professional/Preliminary Expenses
Legal & Consultancy Fees 249,475 123,935
249,475 123,935
20.00 Stamp, Postage & Telecommunica�on etc.
Stamp and Cartridge Cost 20,800 4,000
Postage & Courier Charges 8,190 5,472
Mobile and Telephone Charges 372,701 189,136
Networking/Bandwidth Charge 808,610 756,437
1,210,301 955,045
21.00 Sta�onery, Prin�ng, Adver�sement, etc.
Office Sta�onery Expenses 254,225 171,948
Prin�ng Sta�onery Expenses 72,420 50,580
Publicity and Adver�sement, etc 211,200 15,950
Prin�ng BO form ,Binding, Photography and Photocopy 64,900 69,410
Computer Accessories ( Toner/Rebbon/Ink/etc.) 211,372 69,175
814,117 377,063
22.00 Board of Directors' Mee�ng Expenses
Board Mee�ng A�endance Fees 110,000 80,400
Other BOARD Mee�ng Expenses * 43,873 106,489
153,873 186,889
* Expense include Tips, sta�onery etc.

23.00 Deprecia�on and Repair of the Property, Plant & Equipment

A. Deprecia�on of the Freehold Proper�es
Furniture & Fixtures 284,962 227,216
Office Equipment 291,358 265,263
Computer and Computer Equipment 1,080,078 1,044,385
Bangladesh Made So�ware 330,000 360,000
Motor Vehicles - -
1,986,398 1,896,864

B. Parts (Replacement), Repair & Maintenance of the Company's Assets:

Parts (Replacement) of Office appliances items 18,640 48,860
Parts (Replacement) of Furnitures and Fixtures 303,978 25,480
Servicing and Spare parts replacement of Vehicle - -
Parts (Replacement) of Office Appliance & Equipment 111,119 57,270
Parts (Replacement) of Computer and Computer Equipment 12,898 4,758
446,635 136,368
Total [A+B] 2,433,033 2,033,232

303
 2021 2020
Taka Taka

24.00 Other Expenses

Office Maintenance 355,710 116,270
Local Conveyance 149,435 36,095
Travelling Expenses 14,796 -
AGM Expenses 148,765 -
Annual So�ware Maintenance and IT enable Cost 401,300 288,750
Uniform & Liveries-SCS Staff 54,327 39,867
IPO Applica�on Fee to DSE 32,000 45,000
Entertainment 967,281 404,166
Program Expenses 1,067,424 157,680
Electric Appliance 16,940 -
Non capital Item: Computer,UPS Etc. 467,625 -
Dona�on/CSR 210,000 -
Training fee 27,000 -
Newspaper and Periodical - 4,010
3,912,603 1,091,838

25.00 Other Financial Income

Interest on Deposit for account with Banks 358,044 250,297
358,044 250,297
26.00 Bank/Financial Expenses
Excise Duty for Account with Banks 190,000 138,000
Excise Duty for OD & Term Loan Facili�es from NRB Commercial Bank 240,000 40,000
Bank Charge (VAT Incl.) for Account with Banks 165,222 49,387
Bank Charge (VAT Incl.) for OD Facili�es from NRB Commercial Bank 3,450 1,323
598,672 228,710

As per Sec�on 33 (a) of income tax Ordinance 1984 regarding Interest Income from account with Schedule Bank In Bangladesh and The Company
earned these income for payment Excise du�es and Maintenance Charge as sec�on 34 of the act.

27.00 Provision for denomina�on of Share/Securi�es and Margin Loan

Provision for unrealized loss of share/securi�es* 5,236,214 (19,884,550)
Provision for loss on Margin Loan 19,845,628 -
25,081,841 (19,884,550)

*Provisions for diminu�on in value of investments have been maintained in accordance with IAS-37 and BSEC Circular # SEC/CMR-
RCD/2009-193/166 Dated December 08, 2015.

28.00 Current Tax Expense

i. Taxable Income
Opera�ng Profit 304,237,138 32,424,252
Less : Business Income Other than Standard Tax Rate
Dividend Income [Tax @20% as per Finance Act. 2021] 10,663,045 7,454,650
Gain on Sale of Shares and Debentures (Net) [Tax@10% as per SRO 196/2015] 70,291,063 1,098,004
Taxable Income a�er extra ordinery items 223,283,030 23,871,599
Add:
Deprecia�on for Accoun�ng Purpose 1,986,398 1,896,864
Entertainment 967,281 404,166
Excise Duty for Account with Banks consider for Interest Income 190,000 -
Bank Charge (VAT Incl.) for Account with Banks consider for Interest Income 165,222 -
Excess Perquiste & Other Expense 10,746,696 3,675,151
14,055,598 5,976,181

304
 2021 2020
Taka Taka

Less:
Deprecia�on for Tax Purpose 1,647,147 1,270,483
Entertainment expenses allowable as per limit u/s 30(i) Rule 65
i. @4% On 1st 10 lac of Profit including Entertainment) 40,000
ii. @2% Remaining balance of Balance of Profit 4,711,830
(Whichever is lower between Actual Cost & Rule 65) 4,751,830 967,281 404,166
Taxable Income before considering Other Income 234,724,199 28,173,131

Other Financial Income : Interest Income for Balance with Banks 358,044 250,297
Less: Bank Charge & Excise Duty for earned Interest Income 355,222 187,387
Net Other Financial income 2,822 62,910

Taxable Income for Standard Rate@30% as per Finance Act, 2021 234,727,021 28,423,428

Opera�ng Profit 304,237,138 32,424,252

Taxable Income for Standard Rate@30% as per Finance Act, 2021 234,727,021 28,423,428
Taxable Income other than standard tax rate 80,954,109 8,552,654
Taxable Profit as per Income Tax Ordinance 315,681,130 36,976,082

ii. Current Tax Expense

a. Minimum Tax liabili�es under Sec�on 82C on trunover tax

Minimum Tax on Turnover as per sub 4(a) of the sec�on 82C 3,066,160 574,084
Total Turnover 511,026,715
Minimum Tax @0.6% on Turnover 0.60%

Tax on Other Finanancial Income @30% 847 87,604

Total Tax (a) 3,067,007 661,688

b. Tax on Regular Corporate tax Basis

Tax @30% as Finance Act, 2021 70,417,260 9,156,267
Dividend Income [Tax @20% as per Finance Act. 2021] 2,132,609 1,490,930
Gain on Sale of Shares and Debentures (Net) [Tax@10% as per SRO 196/2015] 7,029,106 109,800
79,578,975 10,756,998
Tax on Other Financial Income @ 30% 847 81,347
Total Tax (b) 79,579,822 10,838,344

c. Minimum Tax of Sebsec�on 2(b) on deduc�on at Source under sec�on 82C

Tax on Trading Securi�es u/s 53BBB with 82C of ITO, 1984 on Business Income 48,589,355 -
Tax on Interest Income under Sec�on 53F of ITO, 1984 33,939 -
Dividend Income [Tax @20% as per Finance Act. 2021] 2,132,609 1,490,930
Gain on Sale of Shares and Debentures (Net) [Tax@10% as per SRO 196/2015] 7,029,106 109,800
57,785,009 1,600,730
Tax on Other Finanancial Income @ 30% - 81,347
57,785,009 1,682,077

Current Expense for Financial Year 2021 (Max of a, b & c) 79,579,822 10,838,344

29.00 Deferred Tax Expense

Carrying Amt Tax Base
Fixed Assets 9,420,236 10,035,290 (615,054) (275,503)
Net Taxable Temporary Difference [i.e. Tax will be paid in future Period] (615,054) (275,503)
Corporate Tax @ 30% i.e. Deferred Tax Liability as of 31.12.2021 (184,516) (89,538)
Less : Deferred tax Liability in 2020 (212,345) 122,807
Deferred Tax expense for the year end on 31.12.2021 27,829 (212,345)

305
 2021 2020
Taka Taka

30.00 Earnings Per Share (EPS)

Profit a�er Taxa�on 199,547,646 41,682,803
Number of Ordinary Shares Outstanding 40,000,000 40,000,000
4.99 1.04
Earnings per shares (EPS) have been computed by dividing the basic earnings by the number of ordinary shares outstanding as on December 31,
2021 in accordance with IAS-33.

31.00 Event a�er the repor�ng period

The Board of Director in its 27th mee�ng held on April 11, 2022 approved the audited financial Statement

32.00 Nature and type of related party transac�on of the company

A. NRBC Bank Limited : Parents Subsidiary Rela�onship

Nature of Transac�on Types Note 2021 2020

Advance Income Tax- AIT on Interest Assets - Inter Company 7 1,318,217 1,284,278
Bank Deposit: Assets - Inter company 8 27,106,932 172,863,419
NRB Commercial Bank Limited A/C 0101-360-099 26,828,240 171,265,266
NRB Commercial Bank Limited A/C 0101-360-098 5,425 3,846
NRB Commercial Bank Limited A/C 0101-364-002 273,267 1,594,307
NRB Commercial Bank Limited Opera�on A/C 0101-360-164 458,473 -
Payable to NRBC Bank Ltd : Client Deposit Liability-Inter Company 12 6,730,512 143,051,288
(Code100+1234)
Overdra� Facility From NRBC Bank Ltd Liability-Inter Company 13 299,368,364 296,605,315
Long Term Loan Income-Inter company 14 1,108,652,484 500,000,000
Interest on Term & OD Facility Expense-Inter company 15 110,003,258 24,676,287
Brokerage Commission Income-Inter company 16 16,725,890 2,944,090
Interest on Bank Deposit Income-Inter company 24 - -
Bank/Financial Expense Expense-Inter Company 26 4,600 3,450

B. Other Related Par�es with Directors :

i. No other transac�on been occurred with stake holding of Directors of NRBC Bank Securi�es Limited
ii. Above transac�ons has been occurred under normal course of business

306
 NRBC Bank Securi�es Limited
Details of Property, Plant & Equipment for Accoun�ng Purpose
As at December 31, 2021
Annexure-1

Assets Deprecia�on
Sl Book Value
NO. Proper�es & Assets Addi�on Disposal Addi�on Disposal
Opeing during the during Closing Rate of Opeing during the during Closing
Balance year the year Balance Deprecia�on Balance year the year Balance

1 Furniture and Fixures 2,418,897 4,833,728 - 7,252,625 10.00% 612,039 284,962 - 897,001 6,355,624

2 Office Equipment 2,773,667 190,896 - 2,964,563 10.00% 643,096 291,358 - 934,454 2,030,109
3 Computer and Computer Equipment 5,221,925 530,544 5,752,469 20.00% 3,637,888 1,080,078 - 4,717,966 1,034,503

4 Bangladesh Made Computer So�ware 1,800,000 - 1,800,000 20.00% 1,470,000 330,000 - 1,800,000 -

5 Motor Vehicles 2,480,000 - 2,480,000 30.00% 2,480,000 - - 2,480,000 -

6 Professionals and Reference Books - - - 10.00% - - - - -

Total 14,694,489 5,555,168 - 20,249,657 8,843,023 1,986,398 - 10,829,421 9,420,236

Details of Property, Plant & Equipment for Tax Purpose

As at December 31, 2021

Assets Deprecia�on
Sl Book Value
NO. Proper�es & Assets Addi�on Disposal Addi�on Disposal
Opeing during the during Closing Rate of Opeing during the during Closing
Balance year the year Balance Deprecia�on Balance year the year Balance

307
1 Furniture and Fixures 2,418,897 4,833,728 - 7,252,625 10.00% 626,205 662,642 - 1,288,847 5,963,778
2 Office Equipment 2,773,667 190,896 - 2,964,563 10.00% 652,835 231,173 - 884,008 2,080,555

3 Computer and Computer Equipment 5,221,925 530,544 - 5,752,469 30.00% 3,877,376 562,528 - 4,439,904 1,312,565
4 Bangladesh Made Computer So�ware 1,800,000 - - 1,800,000 50.00% 1,743,450 28,275 - 1,771,725 28,275
5 Motor Vehicles 2,480,000 - - 2,480,000 20.00% 1,667,354 162,529 - 1,829,883 650,117

6 Professionals and Reference Books - - - - 10.00% - - - - -

Total 14,694,489 5,555,168 - 20,249,657 8,567,220 1,647,147 - 10,214,367 10,035,290

 NRBC Bank Securi�es Limited
Investments in Shares
As at December 31, 2021

A. Por�olio Invest Shares listed with DSE (quoted): Annexure-2

Number Market price Cost per

Par�culars of Shares per share Market price Total Cost Group
share

ACMEPL* 379 26.80 10,157.20 10.00 3,790.00 N

ASIAINS* 409542 115.00 47,097,330.00 124.08 50,817,455.88 A

BNICL* 31977 135.90 4,345,674.30 140.04 4,478,062.66 A

EASTERNINS* 13 115.10 1,496.30 138.26 1,797.35 A

FORTUNE* 200000 92.10 18,420,000.00 96.00 19,200,054.34 A

NIALCO 41297 10.00 412,970.00 10.00 412,970.00 N

ORYZAAGRO 27243 10.40 283,327.20 10.00 272,430.00 S

POPULARLIF 17000 78.60 1,336,200.00 115.11 1,956,808.38 A

Total 71,907,155 77,143,369

B. Special Scheme BO Account: 1205950073697384 Por�olio Investment:

Number Market price Market price Cost per share Total Cost Group
Par�culars of Shares per share

SQUAREPHARMA 55000 214.30 11,786,500 246.38 13,551,017 A

Total 11,786,500 13,551,017

As per Clause cha (2)(i) of DOS Circular 01, Dated February 10, 2020, All kind revalua�on will be suspended �ll February 2025 resul�ng no provision have to
be provided of the aforesaid period and Financial Statement will be finalized on cost basis.

C. Cost of Acquisi�on of DSE TREC & Share : 213,749,990

This represents our original investment cost for DSE memberships in exchange of which shares at a face value of Tk. 10 each have been allo�ed in
favor of the Company through vendor agreement on October 12, 2015 and subsequently it endorsed by Dhaka Stock Exchange in its 812th mee�ng
held on November 12, 2015. As per the provision of the Exchange Demutualiza�on Act-2013 and in accordance with the Bangladesh Security
Exchange Commission (BSEC) approved Demutualiza�on Scheme, Dhaka Stock Exchange Ltd. (DSE) allo�ed total 72,15,106 ordinary Shares at face
value of Tk.10.00 each and, out of which the 60% shares (shares 43,29,064) were kept in blocked accounts as per the provisions of the Exchange
Demutualiza�on Act, 2013, and as such the value of these shares have been classified as investment (Blocked Share) and considered under
non-current assets in the books of accounts.
At the same �me, Out of the above DSE has transferred 2,886,042 shares directly credited to the Beneficiary Owner’s account of the Company which
is 40% of the total holding of the shares and also shown as investment. Meanwhile, as per the sec�on 12 of the Exchange Demutualiza�on Act-2013
scheme, The DSE sold 25% company shares to the strategic partners to Shenzhen Stock Exchange & Shanghai Stock Exchange.
Moreover remaining 75% shares have not been shown in the monthly report on Net Capital Balance as prescribed in rule 3(4) of the Securi�es and
Exchange Rules 1987 to the stock exchange.
The company recognized capital loss Tk. 33,370,693.50 for the year end 2020 due to sell of 25% shares to the strategic partners to Shenzhen Stock
Exchange & Shanghai Stock Exchange as per the sec�on 12 of the Exchange Demutualiza�on Act-2013 scheme.

308
 NRBC Bank Securi�es Limited
Bank Analysis
As at December 31, 2021

Sl. No Par�culars Note NRBC. A/C # 01013640000002 NRBC. A/C # 010136000000099 AIBL A/C # 0021220006396 AIBL. A/C # 0021220006385 NRBC. A/C #010136000000098 NRBC. A/C # The City. A/C # Total Bank 31.12.21
01013600000164 3103261464001
[A] Opening balance 1,594,307 171,265,266 23,568,184 5,021 3,846 - - 196,436,623
[B] Receipts
Share capital -
Contra 1,602,799,373 27,955,485 1,630,754,858
Contra -
Receive from 8,213,731,960 150,000,000 8,363,731,960
client Share
purchase purpus
Transfer 1,300,000,000 1,300,000,000
Receive from 1,045,960,749 1,045,960,749
client Share
purchase purpus
DSE 4,854,960,504 1,335,499,236 6,190,459,739
A/C Transfer 58,085,712 3,620,302,000 3,678,387,712
Interest 25 314,348 25,040 18,656 358,044
Revenue 15 3,243,906 ` 7 ,419,139 10,663,045
Revenue 15 430,072,607 70,291,063 500,363,670
Overdra� 13 554,317,810 554,317,810
Long Term Loan 14 1,108,652,484 1,108,652,484
Transfer Contra 100,000 1 00,000
Total Receipts [B] 1,664,128,991 11,606,774,861 9,521,537,601 1,413,234,478 27,955,485 150,018,656 100,000 24,383,750,070

Total Amount [A+B] 1,665,723,298 11,778,040,126 9,545,105,784 1,413,239,498 27,959,331 150,018,656 100,000 24,580,186,693

[C] Payment:

309
Wrong pos�ng Contra -
Client Payment 0 8,603,193,183 27,953,906 8,631,147,089
DSE 7,350,241,587 1,335,770,471 8,686,012,058
A/C Transfer 1,489,228,206 1,400,000,000 2,092,700,000 135,968,591 5,117,896,797
Administra�ve Expenses 17-24 61,329,618 61,329,618
Investment in Share Annex 2 77,143,369 13,551,017 90,694,386
Client Payment 53,761,798 53,761,798
-
Direct Charge 16 145,219,330 145,219,330
Contra 100,000 1,602,799,373 1,602,899,373
A/C Transfer 114,193,535 114,193,535
Bank Charge & others 26 598,672 40,575 79,851 719,098
Total Payment [C] 1,665,450,031 11,751,211,886 9,496,703,385 1,412,913,840 27,953,906 149,560,183 79,851 24,503,873,082
Closing balance: 273,267 26,828,240 48,402,399 325,658 5,425 458,473 20,149 76,313,611
312
313
Corporate Head Office
114, Motijheel, C/A, Dhaka-1000.
Phone:+880-2-223353422-30
Email: [email protected]
Website: www.nrbcommercialbank.com

PROXY FORM
I/We ..........................................………………………………………………………………………………………………………………………………….......…........................................
of …………….................……………………………………………………………………………………………………………..……................................................................................
being a member of NRB Commercial Bank Ltd. do hereby appoint Mr. /Ms. ..............................……...................................………........................................
as my / our PROXY to attend and vote for me/us and on my / our behalf at the 9th AGM of the Bank to be held virtually by using digital platform on June
02, 2022 (Thursday) at 11.00 am (BST) and at any adjournment thereof.
As witness my/our hand this ................. day of ................. 2022.

Revenue
Stamp
Signature of Shareholder(s) Tk. 20 Signature of PROXY
No. of Shares held………..…….

Folio No.
or
BO ID No.

Note: A member entitled to attend at the General Meeting may appoint a PROXY to attend on his/her behalf. The Proxy Form, duly stamped, must be deposited at the
Registered Office of the Bank at least 72 hours before the time for the meeting.

Signature Verified

Authorized Signatory

Corporate Head Office

114, Motijheel, C/A, Dhaka-1000.
Phone:+880-2-223353422-30
Email: [email protected]
Website: www.nrbcommercialbank.com

SHAREHOLDER / PROXY ATTENDANCE SLIP

I hereby record my attendance at the 9th AGM of the Bank to be held virtually by using digital platform (https://nrbcbank.bdvirtualagm.com) on June
02, 2022 (Thursday) at 11.00 am (BST) to transact the following business.

Name of the Shareholder

No. of Shares
Folio No.
BO ID No.
Name of the Proxy (if any)

Shareholder/Proxy Signature verified by

Note: Please present this Slip at the Reception Desk. Children and non-Shareholders will not be allowed at the meeting.