FINANCIAL STATEMENTS (UNAUDITED)

OF
TRUST BANK LIMITED
FOR THE SECOND QUARTER ENDED 30 JUNE 2019
 TRUST BANK LIMITED
and its subsidiaries
Consolidated Balance Sheet (Unaudited)
As at 30 June 2019

30.06.2019 31.12.2018
(Unaudited) (Audited)
Taka Taka
PROPERTY AND ASSETS
Cash
Cash in hand (including foreign currencies) 3,894,370,890 3,730,434,604
Balance with Bangladesh Bank and its agent bank(s)
(including foreign currencies) 19,709,174,015 12,007,579,243
23,603,544,905 15,738,013,847
Balance with other banks and financial institutions
In Bangladesh 2,577,465,812 7,062,324,216
Outside Bangladesh 2,105,840,324 775,102,896
4,683,306,136 7,837,427,112
Money at call and short notice 10,380,000,000 -
Investments
Government 32,978,802,398 28,488,959,280
Others 6,624,673,828 6,051,559,800
39,603,476,226 34,540,519,080
Loans and Advances/Islami Banking Investments
Loans, Cash Credit, Overdrafts etc./ Investment 202,561,965,821 195,055,298,744
Bills purchased and discounted 3,045,416,609 4,150,197,509
205,607,382,430 199,205,496,253
Fixed assets including premises, furniture and fixtures 562,205,500 585,895,813
Other assets 5,067,988,065 3,169,048,021
Non-banking assets - -
Total Assets 289,507,903,262 261,076,400,126

LIABILITIES AND CAPITAL

Liabilities
Borrowings from other banks, financial institutions and agents 20,184,318,293 20,916,518,784
Deposits and other accounts
Current / Al-wadeeah Current Accounts and other Accounts 24,561,299,437 29,394,205,285
Bills Payable 4,249,733,762 4,227,864,871
Savings Bank / Mudaraba Savings Deposits 34,577,585,948 31,908,653,593
Fixed Deposits / Mudaraba Term Deposits 174,445,482,700 147,004,310,673
Bearer Certificates of Deposit - -
Other Deposits - -
237,834,101,847 212,535,034,422
Other liabilities 17,182,840,002 14,403,276,881
Total Liabilities 275,201,260,142 247,854,830,087

Capital/Shareholders' Equity
Paid up Capital 6,126,628,370 5,569,662,160
Minority Interest 798 789
Foreign Currency Translation Reserve 2,081,098 2,024,844
Statutory Reserve 6,118,395,025 5,638,527,443
Other Reserve 748,957 1,978,275
Retained Earnings 2,058,788,872 2,009,376,528
Total Shareholders' Equity 14,306,643,120 13,221,570,039
Total Liabilities and Shareholders' Equity 289,507,903,262 261,076,400,126

(853,662,682) - -
260,269,756
1,113,932,438

2
 30.06.2019 31.12.2018
(Unaudited) (Audited)
Taka Taka

OFF-BALANCE SHEET ITEMS

Contingent Liabilities

Acceptances and endorsements 18,291,436,140 22,938,526,039

Letter of Guarantees 40,331,336,590 36,916,349,220
Irrevocable Letter of Credits 31,729,175,527 45,474,550,442
Bills for collection 3,693,510,308 3,896,286,368
94,045,458,565 109,225,712,069
Other Contingent Liabilities
Value of travelers' cheques in hand - -
Total: 94,045,458,565 109,225,712,069

Other commitments

Documentary Credit and short term trade -related transactions - -

Forward assets purchased and forward deposits placed - -
Undrawn note issuance and revolving facilities - -
Undrawn formal standby facilities, credit lines and other commitments - -
- -
Total Off-Balance Sheet items including contingent liabilities 94,045,458,565 109,225,712,069

The annexed notes 1-40 form an integral part of the Financial Statements.

Chief Financial Officer Company Secretary Managing Director Director Vice Chairman

Vice Chairman

Januray 25, 2016 Chartered Accountants

3
 TRUST BANK LIMITED
and its subsidiaries
Consolidated Profit and Loss Account
For the half-year ended 30 June 2019

1 January to 1 January to 1 April to 1 April to

30 June 2019 30 June 2018 30 June 2019 30 June 2018
Taka Taka Taka Taka

Interest income / Profit on Investment 9,684,079,895 8,420,891,481 4,983,678,088 4,399,768,911

Interest / Profit paid on deposits and borrowings etc. 5,974,604,807 5,352,128,008 3,026,138,605 2,893,733,466
Net interest income 3,709,475,088 3,068,763,473 1,957,539,483 1,506,035,445
Income from investments 967,485,743 1,026,668,475 429,942,410 513,231,371
Commission, exchange and brokerage 636,130,986 450,179,614 296,692,624 200,543,901
Other operating income 260,645,792 240,297,425 163,526,852 154,825,065
1,864,262,521 1,717,145,514 890,161,886 868,600,337
Total operating income 5,573,737,609 4,785,908,987 2,847,701,369 2,374,635,782
Salaries and allowances 1,030,876,683 981,007,354 561,335,005 534,954,471
Rent, taxes, insurance, electricity, etc. 369,947,075 365,617,328 186,453,232 179,561,150
Legal expenses 959,061 511,335 280,425 161,551
Postage, stamps, telecommunications, etc. 45,105,673 44,285,353 16,905,919 27,663,311
Stationery, printing, advertisement etc. 23,990,413 24,316,642 11,372,665 12,620,083
Managing Director's salary and benefits 7,007,820 5,854,009 3,879,750 3,734,550
Directors' fees 1,490,000 1,659,000 867,000 949,000
Auditors' fee - - - -
Charges on loan losses - - - -
Depreciation and repair of bank's assets 102,844,163 124,139,202 46,612,665 62,462,902
Other expenses 341,080,301 280,905,021 159,159,985 139,536,639
Total operating expenses 1,923,301,189 1,828,295,244 986,866,646 961,643,657
Profit before provision 3,650,436,420 2,957,613,743 1,860,834,723 1,412,992,125
Provision for loans & advances / Investments 1,309,863,000 1,258,041,000 514,388,000 795,072,000
Provision for Diminution in value of Investment - 2,034,932 - 1,903,340
Other provision (109,863,000) (26,334,720) (14,698,855) (23,853,820)
1,200,000,000 1,233,741,212 499,689,145 773,121,520
Total Profit before Taxes 2,450,436,420 1,723,872,531 1,361,145,578 639,870,605
Provision for Taxation
Current tax 1,369,224,986 1,125,683,437 697,026,625 496,285,869
Deferred tax (5,034,711) (2,988,571) (28,623) 3,053,234
1,364,190,275 1,122,694,866 696,998,002 499,339,103
Net Profit after Taxation 1,086,246,145 601,177,665 664,147,576 140,531,502
Appropriations
Statutory Reserve 479,867,582 336,907,909 268,803,967 124,942,361
General reserve - - - -
479,867,582 336,907,909 268,803,967 124,942,361
Retained surplus 606,378,563 264,269,756 395,343,609 15,589,141
Earning per share (EPS) 1.77 0.98 1.08 0.23

The annexed notes 1-40 form an integral part of the Financial Statements.

Chief Financial Officer Company Secretary Managing Director Director Vice Chairman

Vice Chairman

4
 TRUST BANK LIMITED
and its subsidiaries
Consolidated Cash Flow Statements
For the half-year ended 30 June 2019

1 January to 1 January to
30 June 2019 30 June 2018
Taka Taka
A. Cash flow from operating activities
Interest received in cash 8,525,165,644 7,216,739,001
Interest payments (5,962,085,072) (4,983,713,263)
Dividend receipts 16,707,102 23,807,572
Fees and commission receipts in cash 596,349,942 447,051,130
Recoveries of loans previously written off 36,174,473 412,728
Cash paid to employees (992,069,290) (1,012,351,387)
Cash paid to suppliers (20,579,888) (17,332,834)
Income Taxes paid (1,699,918,260) (1,490,449,145)
Received from other operating activities (item-wise) 1,159,201,847 1,222,554,288
Payments for other operating activities (item-wise) (816,486,708) (710,179,058)
Operating profit before changes in operating
Assets and Liabilities 842,459,790 696,539,032
Increase/(Decrease) in operating assets & liabilities
Statutory Deposits - -
Net Investment in trading securities (573,114,028) (1,093,329,624)
Loan & advance to other banks - -
Loan & advance to customers (6,111,966,562) (619,310,113)
Other assets (item-wise) (809,586,069) (338,960,800)
Deposits from other banks 1,258,898,017 (308,397,657)
Deposits from customers 24,034,172,397 11,815,238,055
Other liabilities account of customers - -
Trading liabilities - -
Other liabilities (item-wise) 1,523,426,789 273,591,512
Net cash from operating activities (A) 20,164,290,334 10,425,370,405
B. Cash flow from investing activities
Proceeds from sale of securities - -
Payments for purchase of government securities (4,490,326,536) (21,909,061)
Purchase of property, plant & equipment (50,421,473) (55,978,965)
Purchase of intangible assets (554,663) (1,188,658)
Sale of property, plant & equipment 179,568 (23,550)
Purchase/ Sale of Subsidiary - -
Net cash from investing activities (B) (4,541,123,104) (79,100,234)
C. Cash flow from financing activities
Increase/(Decrease) in Borrowing: -
Call loan - -
Other borrowings (545,073,410) (1,186,115,001)
Dividend paid in cash (1,113,932,432)
Net cash from financing activities (C ) (545,073,410) (2,300,047,433)
D. Net increase in Cash and Cash Equivalent (A+B+C) 15,078,093,820 8,046,222,738
E. Effects of exchange rate changes on cash
and cash equivalents 14,062,162 9,521,926
F. Opening Cash and Cash Equivalent 23,579,510,359 19,788,044,938
G. Cash and cash equivalents at end of year (D+E+F) 38,671,666,341 27,843,789,602

Consolidated Cash and Cash Equivalents at the end of the year

Cash in hand (including foreign currencies) 3,894,370,890 3,381,402,983
Balance with Bangladesh Bank & Sonali Bank (Incl. FCs) 19,709,174,015 15,289,811,604
Balance with Other Bank and Financial Institutions 4,683,306,136 7,467,205,915
Money at call and short notice 10,380,000,000 1,700,000,000
Prize Bond 4,815,300 5,369,100
Total 38,671,666,341 27,843,789,602

5
 TRUST BANK LIMITED
and its subsidiaries
Consolidated Statement of changes in Equity
For the period from January to June 30, 2019 (Second Quarter)

Foreign
Share
Minority Currency Statutory Other Retained
Paid up Capital Premium Total
Particulars Interest Translation Reserve Reserve Earnings
Account
Reserve
Taka Taka Taka Taka Taka Taka Taka Taka
Balance as at 01 January 2019 5,569,662,160 - 789 2,024,844 5,638,527,443 1,978,275 2,009,376,528 13,221,570,039
Changes in accounting policy - - - - - - - -
Restated Balance - - - - - - - -
Surplus/Deficit on revaluation of
properties - - - - - - - -
Surplus/Deficit on revaluation of
investment - - - - - (1,229,318) - (1,229,318)
Currency transaction difference - - - 56,254 - - - 56,254
Net gain and losses not recognized in
the income statement - - - - - - - -
Net profit/(loss) for the year after tax - - 9 - - - 1,086,246,136 1,086,246,145
Statutory reserve - - - - 479,867,582 - (479,867,582) -
Dividends (Bonus Share) 556,966,210 - - - - - (556,966,210) -
Dividends (Cash) - - - - - - - -
Issue of Share Capital - - - - - - - -
Balance as at 30 June 2019 6,126,628,370 - 798 2,081,098 6,118,395,025 748,957 2,058,788,872 14,306,643,120

TRUST BANK LIMITED

and its subsidiaries
Consolidated Statement of changes in Equity
For the period from January to June 30, 2018 (Second Quarter)

Foreign
Share
Minority Currency Statutory Other Retained
Paid up Capital Premium Total
Particulars Interest Translation Reserve Reserve Earnings
Account
Reserve
Taka Taka Taka Taka Taka Taka Taka Taka
Balance as at 01 January 2018 5,569,662,160 - 789 1,780,871 4,815,477,540 5,447,527 2,082,533,494 12,474,902,381
Changes in accounting policy - - - - - -
Restated Balance - - - - - -
Surplus/Deficit on revaluation of
properties - - - - - -
Surplus/Deficit on revaluation of
investment - - - (4,525,107) - (4,525,107)
Currency transaction difference - - 98,752 - - - 98,752
Net gain and losses not recognized in
the income statement - - - - - -
Net profit/(loss) for the year after tax - - 6 - - 601,177,659 601,177,665
Statutory reserve - - 336,907,909 - (336,907,909) -
Dividends (Bonus Share) - - - - - -
Dividends (Cash) - - - - - (1,113,932,432) (1,113,932,432)
Issue of Share Capital - - - - - - -
Balance as at 30 June 2018 5,569,662,160 - 795 1,879,623 5,152,385,449 922,420 1,232,870,812 11,957,721,259

6
 TRUST BANK LIMITED

Balance Sheet
As at 30 June 2019

30.06.2019 31.12.2018
(Unaudited) (Audited)
Taka Taka
PROPERTY AND ASSETS
Cash
Cash in hand (including foreign currencies) 3,894,370,890 3,730,434,604
Balance with Bangladesh Bank and its agent bank(s)
(including foreign currencies) 19,709,174,015 12,007,579,243
23,603,544,905 15,738,013,847
Balance with other banks and financial institutions
In Bangladesh 2,465,849,603 6,959,586,628
Outside Bangladesh 2,105,840,324 775,102,896
4,571,689,927 7,734,689,524
Money at call and short notice 10,380,000,000 -
Investments
Government 32,978,802,398 28,488,959,280
Others 4,281,222,192 3,816,052,855
37,260,024,590 32,305,012,135
Loans and Advances/Islami Banking Investments
Loans, Cash Credit, Overdrafts etc./ Investment 200,576,362,750 192,977,867,286
Bills purchased and discounted 3,045,416,609 4,150,197,509
203,621,779,359 197,128,064,795
Fixed assets including premises, furniture and fixtures 554,295,478 578,011,789
Other assets 8,127,871,063 6,154,578,152
Non-banking assets - -
Total Assets 288,119,205,322 259,638,370,242

LIABILITIES AND CAPITAL

Liabilities
Borrowings from other banks, financial institutions and agents 20,166,207,422 20,913,514,946
Deposits and other accounts
Current / Al-wadeeah Current Accounts and other Accounts 24,822,149,753 29,539,778,747
Bills Payable 4,249,733,762 4,227,864,871
Savings Bank / Mudaraba Savings Deposits 34,577,585,948 31,908,653,593
Fixed Deposits / Mudaraba Term Deposits 174,445,482,700 147,004,310,673
Bearer Certificates of Deposit - -
Other Deposits - -
238,094,952,163 212,680,607,884
Other liabilities 15,928,243,058 13,156,639,917
Total Liabilities 274,189,402,643 246,750,762,747

Capital/Shareholders' Equity
Paid up Capital 6,126,628,370 5,569,662,160
Foreign Currency Translation Reserve 2,081,098 2,024,844
Statutory Reserve 6,118,395,025 5,638,527,443
Other Reserve 748,957 1,978,275
Retained Earnings 1,681,949,229 1,675,414,773
Total Shareholders' Equity 13,929,802,679 12,887,607,495
Total Liabilities and Shareholders' Equity 288,119,205,322 259,638,370,242

7
 30.06.2019 31.12.2018
(Unaudited) (Audited)
Taka Taka

OFF-BALANCE SHEET ITEMS

Contingent Liabilities

Acceptances and endorsements 18,291,436,140 22,938,526,039

Letter of Guarantees 40,270,806,590 36,855,819,220
Irrevocable Letter of Credits 31,729,175,527 45,474,550,442
Bills for collection 3,693,510,308 3,896,286,368
93,984,928,565 109,165,182,069
Other Contingent Liabilities
Value of travelers' cheques in hand - -
Total: 93,984,928,565 109,165,182,069

Other commitments

Documentary Credit and short term trade -related transactions - -

Forward assets purchased and forward deposits placed - -
Undrawn note issuance and revolving facilities - -
Undrawn formal standby facilities, credit lines and other commitments - -
- -
Total Off-Balance Sheet items including contingent liabilities 93,984,928,565 109,165,182,069

The annexed notes 1-40 form an integral part of the Financial Statements.

Chief Financial Officer Company Secretary Managing Director Director Vice Chairman

8
 TRUST BANK LIMITED

Profit and Loss Account

For the half-year ended 30 June 2019

1 January to 1 January to 1 April to 1 April to

30 June 2019 30 June 2018 30 June 2019 30 June 2018
Taka Taka Taka Taka

Interest income / Profit on Investment 9,672,126,923 8,388,952,163 4,978,293,854 4,392,843,128

Interest / Profit paid on deposits and borrowings etc. 5,974,609,627 5,352,132,078 3,026,138,144 2,893,658,574
Net interest income 3,697,517,296 3,036,820,085 1,952,155,710 1,499,184,554
Income from investments 918,013,180 1,009,772,067 410,299,191 504,050,614
Commission, exchange and brokerage 626,266,041 445,249,335 293,566,986 197,468,294
Other operating income 247,931,979 221,902,653 156,934,277 141,931,686
1,792,211,200 1,676,924,055 860,800,454 843,450,594
Total operating income 5,489,728,496 4,713,744,140 2,812,956,164 2,342,635,148
-
Salaries and allowances 1,015,314,634 964,478,735 552,401,125 526,265,012
Rent, taxes, insurance, electricity, etc. 361,769,042 357,395,669 182,369,220 175,360,180
Legal expenses 859,435 507,635 280,425 159,551
Postage, stamps, telecommunications, etc. 44,688,773 43,895,710 16,689,741 27,440,976
Stationery, printing, advertisement etc. 23,779,469 24,132,316 11,275,293 12,507,393
Managing Director's salary and benefits 5,745,000 4,759,909 3,187,500 3,187,500
Directors' fees 1,415,000 1,587,000 792,000 892,000
Auditors' fee - - - -
Charges on loan losses - - - -
Depreciation and repair of bank's assets 101,936,554 122,986,279 46,172,214 61,788,052
Other expenses 334,882,677 275,720,128 156,079,665 137,069,564
Total operating expenses 1,890,390,584 1,795,463,381 969,247,183 944,670,228
Profit before provision 3,599,337,912 2,918,280,759 1,843,708,981 1,397,964,920
-
Provision for loans & advances / Investments 1,309,863,000 1,258,041,000 514,388,000 795,072,000
Provision for Diminution in value of Investment - 2,034,932 - 2,034,932
Other provision (109,863,000) (26,334,720) (14,698,855) (23,853,820)
1,200,000,000 1,233,741,212 499,689,145 773,253,112
Total Profit before Taxes 2,399,337,912 1,684,539,547 1,344,019,836 624,711,808
Provision for Taxation -
Current tax 1,361,000,000 1,115,000,000 695,000,000 494,000,000
Deferred tax (5,030,336) (2,999,755) (26,346) 3,046,639
1,355,969,664 1,112,000,245 694,973,654 497,046,639
Net Profit after Taxation 1,043,368,248 572,539,302 649,046,182 127,665,169
Appropriations -
Statutory Reserve 479,867,582 336,907,909 268,803,967 124,942,361
General reserve - - - -
479,867,582 336,907,909 268,803,967 124,942,361
Retained surplus 563,500,666 235,631,393 380,242,215 2,722,808
Earning per share (EPS) 1.70 0.93 1.06 0.21
exed notes 1-40 form an integral part of the Financial Statements. January to March 31, 20

Chief Financial Officer Company Secretary Managing Director Director Vice Chairman

Dated: Dhaka Syful Shamsul Alam & Co

9
 TRUST BANK LIMITED

Cash Flow Statements

For the half-year ended 30 June 2019

January to January to
June 30, 2019 June 30, 2018
Taka Taka
A. Cash flow from operating activities
Interest received in cash 8,513,212,672 7,184,873,815
Interest payments (5,962,089,892) (4,983,791,465)
Dividend receipts 16,707,000 16,588,894
Fees and commission receipts in cash 596,349,942 447,051,130
Recoveries of loans previously written off 36,174,473 412,728
Cash paid to employees (980,261,214) (999,907,285)
Cash paid to suppliers (20,464,480) (17,190,404)
Income Taxes paid (1,686,876,691) (1,472,022,334)
Received from other operating activities (item-wise) 1,087,150,627 1,189,551,506
Payments for other operating activities (item-wise) (796,762,127) (691,213,540)
Operating profit before changes in operating
Assets and Liabilities 803,140,310 674,353,045
Increase/(Decrease) in operating assets & liabilities
Statutory Deposits - -
Net Investment in trading securities (465,169,337) (999,911,584)
Loan & advance to other banks - -
Loan & advance to customers (6,263,179,200) (649,159,137)
Other assets (item-wise) (827,222,698) (353,151,590)
Deposits from other banks 1,258,898,017 (308,397,657)
Deposits from customers 24,149,449,251 11,818,851,929
Other liabilities account of customers - -
Trading liabilities - -
Other liabilities (item-wise) 1,513,714,597 234,115,880
Net cash from operating activities (A) 20,169,630,940 10,416,700,886
B. Cash flow from investing activities
Proceeds from sale of securities - -
Payments for purchase of government securities (4,490,326,536) (21,909,061)
Purchase of property, plant & equipment (49,547,098) (55,726,885)
Purchase of intangible assets (554,663) (1,188,658)
Sale of property, plant & equipment 179,568 (23,550)
Purchase/ Sale of Subsidiary -
Net cash from investing activities (B) (4,540,248,729) (78,848,154)
C. Cash flow from financing activities
Increase/(Decrease) in Borrowing: - -
Call loan - -
Other borrowings (560,167,012) (1,163,015,039)
Dividend paid in cash - (1,113,932,432)
Net cash from financing activities (C ) (560,167,012) (2,276,947,471)
D. Net increase in Cash and Cash Equivalent (A+B+C) 15,069,215,199 8,060,905,261
E. Effects of exchange rate changes on cash
and cash equivalents 14,062,162 9,521,926
F. Opening Cash and Cash Equivalent 23,476,772,771 19,705,826,406
G. Cash and cash equivalents at end of year (D+E+F) 38,560,050,132 27,776,253,593

Cash and Cash Equivalents at the end of the year

Cash in hand (including foreign currencies) 3,894,370,890 3,381,402,983
Balance with Bangladesh Bank & Sonali Bank (Incl. FCs) 19,709,174,015 15,289,811,604
Balance with Other Bank and Financial Institutions 4,571,689,927 7,399,669,906
Money at call and short notice 10,380,000,000 1,700,000,000
Prize Bond 4,815,300 5,369,100
Total 38,560,050,132 27,776,253,593

10
 TRUST BANK LIMITED

Statement of changes in Equity

For the period from January to June 30, 2019 (Second Quarter)

Foreign
Share
Currency Statutory Other Retained
Paid up Capital Premium Total
Particulars Translation Reserve Reserve Earnings
Account
Reserve
Taka Taka Taka Taka Taka Taka Taka
Balance as at 01 January 2019 5,569,662,160 - 2,024,844 5,638,527,443 1,978,275 1,675,414,773 12,887,607,495
Changes in accounting policy - - - - - - -
Restated Balance - - - - - - -
Surplus/Deficit on revaluation of
properties - - - - - - -
Surplus/Deficit on revaluation of
investment - - - - (1,229,318) - (1,229,318)
Currency transaction difference - - 56,254 - - - 56,254
Net gain and losses not
recognized in the income
statement - - - - - - -
Net profit/(loss) for the year after
tax - - - - - 1,043,368,248 1,043,368,248
Statutory reserve - - - 479,867,582 - (479,867,582) -
Dividends (Bonus Share) 556,966,210 - - - - (556,966,210) -
Dividends (Cash) - - - - - - -
Issue of Share Capital ( Rights
Share) - - - - - - -
Balance as at 30 June 2019 6,126,628,370 - 2,081,098 6,118,395,025 748,957 1,681,949,229 13,929,802,679

TRUST BANK LIMITED

Statement of changes in Equity

For the period from January to June 30, 2018 (Second Quarter)

Foreign
Share
Currency Statutory Other Retained
Paid up Capital Premium Total
Particulars Translation Reserve Reserve Earnings
Account
Reserve
Taka Taka Taka Taka Taka Taka Taka
Balance as at 01 January 2018 5,569,662,160 - 1,780,871 4,815,477,540 5,447,527 1,719,815,073 12,112,183,171
Changes in accounting policy - - - - - -
Restated Balance - - - - - -
Surplus/Deficit on revaluation of
properties - - - - - -
Surplus/Deficit on revaluation of
investment - - - - (4,525,107) - (4,525,107)

Currency transaction difference - - 98,752 - - - 98,752

Net gain and losses not
recognized in the income
statement - - - - - -
Net profit/(loss) for the year after
tax - - - - 572,539,302 572,539,302
Statutory reserve - - 336,907,909 - (336,907,909) -
Dividends (Bonus Share) - - - - - -
Dividends (Cash) - - - - (1,113,932,432) (1,113,932,432)
Issue of Share Capital - - - - - -
Balance as at 30 June 2018 5,569,662,160 - 1,879,623 5,152,385,449 922,420 841,514,034 11,566,363,686

11
 TRUST BANK LIMITED
Notes to the Financial Statements
For the period ended 30 June 2019 (2nd Quarter)

1 Reporting entity
1.1 Changes of Accounting policy
Accounting policies in this financial statements are same as those applied in its last audited financial statements
of December 2018.

1.2 Basis of Consolidation

The consolidated financial statements include the financial statements of Trust Bank Limited and its two
subsidiaries Trust Bank Investment Limited and Trust Bank Securities Limited, for the 2nd quarter ended as on
30 June 2019.

1.3 Earning per Share

The Group and the Bank present basic earning per share (EPS) data for the ordinary shares. Basic EPS is
calculated by dividing the profit or loss attributable to the ordinary shareholders of the Group/Bank by the
number of ordinary shares outstanding as on 30 June 2019.

The EPS for the reporting period has been increased from the last year due to increase of Total Operating
Income as well as decreased on provision on Loans & Advances.

30.06.2019 31.12.2018
(Unaudited) (Audited)
Taka Taka

2 Consolidated Loans and Advances/Islami Banking Investments

Loans And Advances
Trust Bank Limited 200,576,362,750 192,977,867,286
Trust Bank Securities Limited - -
Trust Bank Investment Limited 1,985,616,502 2,077,444,889
202,561,979,252 195,055,312,175
Less : Inter Company Transaction 13,431 13,431
202,561,965,821 195,055,298,744
Bills purchased and discounted
Trust Bank Limited 3,045,416,609 4,150,197,509
Trust Bank Securities Limited - -
Trust Bank Investment Limited - -
3,045,416,609 4,150,197,509
205,607,382,430 199,205,496,253

3 Consolidated Deposits and Other Accounts

Current / Al-wadeeah Current Accounts and other Accounts
Trust Bank Limited 24,822,149,753 29,539,778,747
Trust Bank Securities Limited - -
Trust Bank Investment Limited 66,902,961 70,427,942
24,889,052,714 29,610,206,689
Less : Inter Company Transaction 327,753,277 216,001,404
24,561,299,437 29,394,205,285
Bills Payable 4,249,733,762 4,227,864,871
Savings Bank Deposits/Mudaraba Savings Deposits 34,577,585,948 31,908,653,593
Fixed Deposits/Mudaraba Term Deposits 174,445,482,700 147,004,310,673
237,834,101,847 212,535,034,422

4 CAPITAL
4.1 Authorized Capital
1,000,000,000 Ordinary shares of Tk. 10 each 10,000,000,000 10,000,000,000

4.2 Issued, Subscribed and Paid Up Capital

612,662,837 Ordinary shares of Tk. 10 each 6,126,628,370 5,569,662,160

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 1 January to 1 January to
30 June 2019 30 June 2018
Taka Taka

4.1 Earning per Share (EPS)

Profit attributable to outstanding ordinary share holders 1,043,368,248 572,539,302
Nos of Ordinary Outstanding Shares outstanding 612,662,837 612,662,837
Earning per Share 1.70 0.93

5 Consolidated Earning per Share (EPS)

Profit attributable to outstanding ordinary share holders 1,086,246,145 601,177,665
Nos of Ordinary Outstanding Share 612,662,837 612,662,837
Earning per Share 1.77 0.98

6 Consolidated Net Asset Value (NAV) per Share

Net Asset Value (NAV) 14,306,643,120 11,957,721,259
Nos of Ordinary Outstanding Shares 612,662,837 612,662,837
Net Asset Value (NAV) per Share 23.35 19.52

7 Consolidated Net Operating Cash Flow per share (NOCFPS)

Net Operating Cash Flow 20,164,290,334 10,425,370,405
Nos of Ordinary Outstanding Shares 612,662,837 612,662,837
Net Operating Cash Flow per share (NOCFPS)* 32.91 17.02

*Net Operating Cash Flow per share (NOCFPS) has been increased due to increase of collection of Deposits
from Customer.

8 Reconciliation of Net Profit after tax with Cash flows from Operating Activities
Net Income (Loss) 1,086,246,145 601,177,665
Adjustments to reconcile net income to net cash provided
by operating activities:
Interest Income (1,158,914,251) (1,204,152,480)
Interest Expense 12,519,735 368,414,745
Fees and commission Income (39,781,044) (3,128,484)
Salary and Allowances 45,815,213 (25,490,024)
Printing and Stationeries (2,340,951) 906,103
Income Taxes (335,727,985) (367,754,279)
Other Operating Income (52,222,586) (20,604,040)
Other operating Expenses 50,691,041 113,015,886
Provision for loans & advances / Investments / Other Assets 1,200,000,000 1,233,741,212
Operating profit before changes in operating Assets and
Liabilities 842,459,790 696,539,032
Increase/(Decrease) in operating assets & liabilities
Net Investment in trading securities (573,114,028) (1,093,329,624)
Loan & advance to customers (6,111,966,562) (619,310,113)
Other assets (item-wise) (809,586,069) (338,960,800)
Deposits from other banks 1,258,898,017 (308,397,657)
Deposits from customers 24,034,172,397 11,815,238,055
Other liabilities (item-wise) 1,523,426,789 273,591,512
Net cash from operating activities 20,164,290,334 10,425,370,405

8 Credit Rating of the Bank

As per BRPD Circular no. 6 dated 5 July 2016, the bank has done its credit rating by Credit Rating Agency of
Bangladesh Ltd. (CRAB) based on the financial statements as at and for the year ended 31 December 2018.
The following ratings have been awarded:

Date of Rating Surveillance Rating

Periods Outlook
Long Term Short Term
January to December 2018 24-Jun-19 AA2 ST-2 Stable
January to December 2017 27-Jun-18 AA2 ST-2 Stable
January to December 2016 15-Jun-17 AA2 ST-2 Stable

The published quarterly (Q2) financial statements are available in the website of the Bank. The address
of the website is www.tblbd.com

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