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 investments679,386587,868
Income from loans and advances36,730 66,558
Income from lease finance76,955148,789
Income from endings – secured 99,662  18,851
Income from fees, commission and brokerage26,44822,135
——–——–
919,181844,201
Finance costs792,627 667,449
——–——–
126,554176,752
Administrative and General expenses 186,295187,760
 ——–——–
(59,741)(11,008)
Other operating Income14,38427,681
——– ——–
(45,357)16,673
Other operating expenses6,827 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