Bangladesh Industrial Finance Company Limited announcements
298 Dhaka Stock Exchange announcements for Bangladesh Industrial Finance Company Limited (BIFC) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2018 (16).
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (1.96) for July-September, 2018 as against Tk. (2.00) for July-September, 2017; EPS was Tk. (5.53) for January-September, 2018 as against Tk. (5.45) for January-September, 2017. NOCFPS was Tk. (2.72) for January-September, 2018 as against Tk. 1.64 for January-September, 2017. NAV per share was Tk. (71.93) as on September 30, 2018 and Tk. (66.40) as on December 31, 2017.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on October 28, 2018 at 6:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on September 30, 2018.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. (1.65) for April-June 2018 as against Tk. (1.75) for April-June 2017; EPS was Tk. (3.57) for January-June 2018 as against Tk. (3.45) for January-June 2017. NOCFPS was Tk. (2.01) for January-June 2018 as against Tk. 0.58 for January-June 2017. NAV per share was Tk. (69.97) as on June 30, 2018 and Tk. (0.30) as on June 30, 2017.
- New Venue of AGM
The Company has further informed that due to some unavoidable circumstances, the Board of Directors of the Company has decided to convene the 22nd AGM of the Company for the year 2017 in Retired Armed Forces Officers Welfare Association (RAOWA), VIP Road, Mohakhali DOHS, Dhaka-1206 on August 07, 2018 at 10:00 AM instead of their earlier declared venue of Police Convention Hall, Eskaton Garden, Ramna, Dhaka.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on July 19, 2018 at 6:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on June 30, 2018.
- Changes in audited financials and 1st quarterly unaudited financials
Referring to their news disseminated on 03.05.2018 regrading dividend declaration of the company and news disseminated on 16.05.2018 regarding their 1st quarterly unaudited accounts, the company has further informed that the books of accounts were prepared and audited incorporating the results of the audited accounts. (cont. 1) (Continuation news of BIFC): As a result, the submitted financial disclosures have been reappeared as follows: NAV per share would be Tk. (66.40) instead of Tk. (6.19), EPS would be Tk. (69.55) instead of Tk. (9.34). In consequence of subject changes in the year ended on December 31, 2017, the NAV per share for the 1st quarter period ended on April 30, 2018 would be Tk. (68.32) instead of Tk. (8.11). (end) (Continuation news of BIFC): But Bangladesh Bank instructed the Company to charge 100% provision for the entire classified loans and lease amount of Tk. 608,85,72,250.00 and revise the books of accounts and get them certified by their external Auditors. Accordingly, the Board of Directors has decided to create 100% provision of all the investment classified as B/L. (cont. 2)
- Resumption after record date
Trading of the shares of the Company will resume on 11.06.2018 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 10.06.2018.
- Spot News
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle from 28.05.2018 to 07.06.2018. Trading of the shares of the Company will remain suspended on record date i.e., 10.06.2018.
- Date, time and venue of the AGM
The Company has further informed that their AGM will be held on August 07, 2018 at 10:00 AM in Police Convention Hall, Eskaton Garden, Ramna, Dhaka. Other information will remain unchanged.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. (1.92) for January-March, 2018 as against Tk. (1.70) for January-March, 2017; NOCFPS was Tk. (1.19) for January-March, 2018 as against Tk. 0.56 for January-March, 2017. NAV per share was Tk. (8.11) as on March 31, 2018 and Tk. 1.45 as on March 31, 2017.
- Query Response on news on loan default status of Ex-Chairman
In response to a DSE query dated May 13, 2018 regarding a news published in the newspaper citing "95% loan of Major Mannan is in default", the Company has given the following response: "As per Bangladesh Bank Special Inspection Report dated June 24, 2015, about Tk. 518.00 crores was sanctioned and disbursed in favor of different borrowers in highly irregular and fraudulent ways. (cont. 1) (Continuation news of BIFC): total Loan, Advances and Lease amount is Tk. 837.60 crores out of which Classified amount is Tk. 798.33 crores (95.31%). Bad & Loss Loans/Leases amount of Borrowers related to Suman Group is Tk. 621.00 crores which is 77.79% of total classified loans amount. This has also been disclosed in the audited accounts of the Company." (end) (Continuation news of BIFC): They also detected that ultimate beneficiary of these loans were Major (Retd.) Abdul Mannan, Chairman Sunman Group and Ex-Chairman of BIFC. Bangladesh Bank classified all these loans as BL (Bad & Loss) which was disclosed in the Annual Report-2015 of BIFC. As per audited report for the year ended December 31, 2017 of BIFC, (cont. 2)
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on May 15, 2018 at 6:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on March 31, 2018.
- Dividend Declaration
The Board of Directors has recommended No dividend for the year ended on December 31, 2017. Date, time and venue of the AGM: To be notified later. Record Date: 10.06.2018. The Company has also reported EPS of Tk. (9.34), NAV per share of Tk. (6.19) and NOCFPS of Tk. 1.06 for the year ended on December 31, 2017 as against Tk. (6.77), Tk. 3.15 and Tk. 6.14 respectively for the same period of the previous year.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (03.05.2018) following its corporate declaration.
- Board Meeting schedule under LR 19(1)
As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on April 30, 2018 at 6:30 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2017.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.