IGI Investment Bank Limited’s financial results for the year ended June 30, 2010

IGI Investment Bank Limited’s financial results for the year ended June 30, 2010

Karachi: We have to inform you that the Board of Directors of IGI Investment Bank Limited (IGIBL) in their meeting held at 11:00 a.m. on Friday, August 26, 2011, has approved the audited financial statements for the year ended June 30, 2011 the profit and loss account of which is reproduced as follows:

Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

(Rupees in thousand)

Income
Income from investments 679,386 587,868
Income from loans and advances 36,730  66,558
Income from lease finance 76,955 148,789
Income from endings – secured  99,662   18,851
Income from fees, commission and brokerage 26,448 22,135
——– ——–
919,181 844,201
Finance costs 792,627  667,449
——– ——–
126,554 176,752
Administrative and General expenses  186,295 187,760
 ——– ——–
(59,741) (11,008)
Other operating Income 14,384 27,681
——–  ——–
(45,357) 16,673
Other operating expenses 6,827  6,478
——–  ——–
Operating (loss) / profit before provisions  (52,184)  10,195
Reversal / (Provision) for bad and doubtful loans and  36,469
advances / lease losses – general – net
Provision for bad and doubtful loans and advances (10,485) (300,663)
/ lease losses-specific-net
——–  ——–
(10,485) (264,194)
——–  ——–
Impairment against Investments:
Fund placements and term finance certificates – net (16,405)  (1,731)
Equity securities:
Equity securities held as at year end (4,933)  –
Unquoted equity securities and preference shares  (4,681) (130,687)
 ——–  ——–
 (26,019)  (130,687)
——–  ——–
 (26,019)  (132,418)
Loss before taxation  (88,688) (386,417)
Taxation – net  (80,307) 187,047
——– ——–
Loss after taxation (168,995) (199,370)
Other comprehensive Income – net of tax
——– ——–
Total comprehensive loss – net of tax (168,995) (199,370)
——–  ——–

—-(Rupee)—-

Loss per share – Basic  (0.80)  (0.94)

 

 

Cash Dividend       Nil

Bonus Issue           Nil

Right Shares          Nil

 

For more information, contact:
IGI Investment Bank Limited
7th Floor, The Forum,
Suite No 701 -713,
G-20, Block -9,
Khayaban-e-Jami, Clifton,
Karachi-75600, Pakistan
Tel: 111-234-234
Fax: 111-567-567

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