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LankaBangla Finance Limited

All figures in BDT million except (%)

Financial Position 2014 2015 2016 2017 2018 Growth of 2018 over 2017 5 Year CAGR (%)/Average*
Total Assets 39,129 50,448 63,935 85,443 87,889 2.86% 22.42%
Total Liabilities 31,997 44,099 57,164 77,014 77,954 1.22% 24.93%
Business Disbursement 19,750 35,770 45,539 56,726 38,754 -31.68% 18.35%
Property Plant and Equipment 311 1,292 1,430 1,803 2,406 33.44% 66.77%
Current Assets 13,316 19,146 33,088 35,318 44,980 27.36% 35.57%
Current Liabilities 9,381 17,301 29,043 31,959 41,741 30.61% 45.24%
Net current assets 3,935 1,845 4,045 3,359 3,239 -3.58% -4.75%
Non Current Assets 25,813 37,132 30,847 50,124 42,909 -14.40% 13.55%
Long Term Liabilities 22,616 26,798 28,121 45,055 36,213 -19.63% 12.49%
Loans and Advances 30,396 41,819 51,244 66,544 68,676 3.20% 22.60%
Term Deposits 16,683 29,992 40,033 51,553 53,231 3.26% 33.65%
Total Investment Portfolio 37,217 47,605 60,595 80,800 81,946 1.42% 21.81%
Operational Performance
Operating Revenue 5,100 6,237 7,306 9,981 11,061 10.82% 21.35%
Operating Expenses 1,285 1,612 1,999 2,671 2,770 3.70% 21.17%
Financial Expenses 3,033 3,715 3,964 4,839 6,606 36.52% 21.48%
Non Interest Revenue 1,135 1,449 1,644 2,905 1,966 -32.32% 14.73%
Net Profit Before Tax 434 533 947 2,264 709 -68.68% 13.08%
Net Profit After Tax 454 421 796 1,926 444 -76.93% -0.53%
EBITDA 3,909 4,340 5,008 7,256 7,315 0.82% 16.96%
Turnover of Share Trading by LBSL 181,674 148,645 166,902 363,646 235,595 -35.21% 6.71%
Financial Ratios
Gross Profit Ratio 59.47% 59.57% 54.26% 48.48% 59.72% 23.18% 56.30%
Operating Profit Ratio 15.34% 14.59% 18.37% 24.76% 15.24% -38.45% 17.66%
Return on Capital Employed 1.41% 1.04% 1.55% 2.83% 0.56% -80.10% 1.48%
Cash reserve ratio/ liquidity asset ratio (Required 2.5%) 2.64% 2.51% 2.52% 2.92% 2.57% -11.97% 2.63%
Statutory Liquidity Reserve (Required 5%) 6.00% 5.05% 5.08% 5.10% 5.03% -1.38% 5.25%
Capital Adequacy Ratio (2011: Test Run. Effct. From 2012) 17.26% 13.41% 12.45% 11.95% 16.18% 35.40% 14.25%
Gross Non performing assets to gross advances/Non performing loans (assets) to total loans (assets) 4.05% 3.20% 3.22% 2.85% 3.35% 17.26% 3.33%
Cost to Income Ratio 62.16% 63.92% 59.83% 51.95% 62.17% 19.68% 60.01%
Current Ratio 1.42 1.11 1.14 1.11 1.08 -2.49% 1.17
Debt Equity Ratio 4.09 6.23 7.61 8.42 7.07 -15.98% 6.68
Financial Expense Coverage Ratio 1.26 1.24 1.34 1.51 1.26 -16.91% 1.32
Return on Equity (%) 6.59% 6.37% 12.29% 25.66% 4.90% -80.91% 11.16%
Return on Assets (%) 1.26% 0.94% 1.39% 2.58% 0.51% -80.12% 1.34%
Equity Parameters
Authorized Capital 3,000 3,000 3,000 10,000 10,000 0.00% 35.12%
Paid-up Capital 2,188 2,406 2,767 3,183 5,132 61.25% 23.76%
Shareholders' Equity 6,947 6,262 6,687 8,327 9,823 17.97% 9.05%
No. of Share Outstanding 219 241 277 318 513 61.25% 23.76%
Net Asset Value (NAV) Per Share* 21.83 19.68 21.01 18.19 19.14 5.26% -3.23%
Earnings Per Share (EPS)* 1.39 1.33 2.5 4.15 0.85 -79.40% -11.45%
Market Price Per Share (Closing) 40 29 34.8 47.8 22.9 -52.09% -13.02%
Price Earnings Ratio (Times) * 28.79 21.74 13.92 11.53 26.81 132.60% 20.56
Dividend Payment (C- cash & B- bonus) 10% B 15% B 15% B 7.5% B - - -
  10% C 15% C 15% C 7.5% C 15% C - -
Profit Per Employee (mn) 0.59 0.55 0.84 1.6 0.37 -76.93% -11.20%
Credit Ratings
Long Term A1 AA3 AA3 AA3 AA3 AA3 -
Short Term ST-3 ST-2 ST-2 ST-2 ST-2 ST-2 -

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  • Director's Report

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"LankaBangla has been developing its strategies for years based on diversification in markets with high growth potential, a customer-centric business model and technology as key elements in order to face the transformation process being experienced in its business segments. Sustaining earnings amidst challenging times and taking result oriented initiatives have helped us to elevate the company performance to the next level."

In the name of Almighty Allah, the Most Gracious and the Most Merciful.

Dear valued shareholders,


It is our great pleasure to invite you all to the 22nd Annual General Meeting of LankaBangla Finance Limited. I am glad to present the annual report, financial performances with audited financial statements for the year ended 31 December 2018, economic outlook and business strategies for the Company and its subsidiaries.

Bangladesh economy grew at a record 7.86% rate in 2018 which is expected to remain at the same level for 2019 ensuring robust economic growth. The fiscal expansion followed the growth trajectory with development budget allocation being 37% of BDT 4,645 billion national budget for FY 2018-2019. Amid robust GDP growth in 2018, broad money (M2) increased at slower rate of 9.41%. The low deposit rate resulted in yearlong liquidity shortage that was intensified due to the regulatory compliance of maintaining the AD ratio to a permissible level. This has resulted in high deposit rate and reduced interest rate spread.

During the year 2018 the foreign currency was under constant pressure amid balance of payment and current account deficit which might continue throughout 2019. Devaluation of BDT will definitely boost export oriented sectors but create pressure on inflation rate.

The year 2018 has been a difficult year, but as we look back over last five years, our Company had gone through extraordinary length to diversify the Company in terms of product offering, revenue growth, risk management, digital infrastructure and prudent balance sheet management. We have diversified our core lending portfolio with more exposures in Retail and SME customers which comprises of 65.68% of our loan book in 2018 from that of 18.29% in 2013. The diversification of asset base did not stop us from being a strong participant in the capital market.

In 2018, we have achieved BDT 444 million net profit after tax from consolidated operations and BDT 714 million from standalone operation of LankaBangla Finance Limited. Earnings per share (EPS) is BDT 0.85 on consolidated basis and BDT 1.40 on standalone basis. The year 2018 being an election year there was some political uncertainties which resulted in liquidity crunch in banking sector and bearish capital market; accordingly, our bottom line result has been greatly affected.

The net cash flow per share from operating activities has increased to BDT 3.30 up from negative territory last year. Due to high attrition rate of corporate and institutional (e.g. Financial Institutions) deposits, LankaBangla Finance focused and successfully increased its retail deposit base, at the same time bank borrowing decreased by 16% from that of 2017. Concurrently, we are exploring low cost and long term nature of funding avenue which will increase our interest rate spread. Already, LankaBangla Finance has availed USD 20 million Murabaha facility from ICD (Member of Islamic Development Bank Group) as the first NBFI in Bangladesh to secure Shariah-compliant foreign currency financing.

Although, Company’s earnings per share has been down by 79% in 2018 from that of previous year, we never lost sight that matters the most; serving our customers to our best capacity by growing together. As Bangladesh graduates into a middle-income country, the economy is growing more than double the growth rate of world average paving prosperous future in the days to come.

In the meantime, LankaBangla Finance Limited has become safer and stronger than ever enabling it to lend and raise capital to ensure growth for both our customers and shareholders. We have strengthened our balance sheet by issuing Right Share that has increased our shareholders’ equity to a new height of BDT 9,823 million up by 18% from 2017. Moreover, subordinated bond of BDT 1,793 million has strengthen our supplementary tier 2 capital. After those strategic initiatives, Capital Adequacy Ratio (CAR) of 16.18% on consolidated basis and 15.74% on standalone basis shows great improvement in terms of safety comparing to the consolidated and standalone CAR of 11.95 % and 11.81% respectively for the year 2017.

Our loan book and carrying value of investment registered marginal growth considering tight liquidity position and LBFL’s continuous focus on balance sheet diversification. Our focus on Retail and SME business segment has resulted into more diversified loan book. In 2018 we have added 2 more new branches in an effort to expand our geographical footprint.

Comparing to the marginal growth of LBFL’s loan book by 3.2%, its net interest income grew by 11.3% in 2018. Operating expenses growth was controlled successfully as it grew by only 3.7% in a competitive market and comparing to average yearly inflation rate of 5.54% in 2018.

Income from investment has reduced to BDT 434.00 million in 2018 from that of 914.00 million in previous year due to bearish stock market performance throughout the year. We had to make provision of BDT 342.29 million for diminution in value of investments and BDT 368.77 million for loans and advances. NPL increased to 3.60% in 2018 compared to 3.07% in 2017.

As political uncertainty abates of and the new government consolidates its position, capital market is expected to be upbeat in terms of turnover and general direction in price index. Although banking sector liquidity situation is still tight, it is expected to be better than that of last year. Besides, economic growth, positive corporate earnings in a growing economy and reduced uncertainty are expected to improve the capital market outlook. In 2018, Chinese consortium of Shenzhen and Shanghai Stock Exchange has inked deal with Dhaka Stock Exchange to become a strategic investor of DSE. Expectedly, the technical assistance and collaboration offered by the strategic investor is expected to benefit the capital market in future. Throughout the year 2018, the capital market was volatile and we strived to maintain the momentum. During the year average daily turnover in DSE and CSE has declined by 37.01% and 40.25% respectively compared to the last year. Political uncertainty, yearlong liquidity shortage in banking sector, unstable money market and selling pressure from foreign investors have played vital roles in the downtrend stock market. Our fee based income like brokerage and commission has reduced significantly by 38% in FY 2018. On top of that, we had to put aside considerable amount as provision for margin loans.

Despite the afore mentioned situations, our subsidiary Company, LankaBangla Securities Limited, has secured 1st position in terms of turnover for 13 consecutive years in Dhaka Stock Exchange and for 14 consecutive years in Chittagong Stock Exchange depicting our consistent strong presence in Bangladesh Capital Market.

We consider corporate social responsibility as an opportunity to work for advancing societal needs and improving communities. In 2018, we arranged 2nd phase of Tree Plantation at Ramu Cantonment, Cox’s Bazar. Besides, we have continued our support to underprivileged people of the community to ensure their health, shelter and education through LankaBangla Foundation.

Our board has recommended 15% cash dividend to the shareholders for their approval in the Annual General Meeting. LankaBangla Finance Limited pledges utmost importance in justifiable distributions to shareholders that is consistent with prevailing economy, financial condition of the Company and organizational strategy as a whole.

Our most important asset is our human capital. We attract the best talents in the industry through our flagship management trainee program and lateral entries that offers competitive compensations and benefits. We focus on need-based training for next generation of leaders. Newly recruited staffs go through proper orientation, external/internal training depending on the requirement of the job along with on the job training and mentoring.

As we navigate through 2019 after a difficult year, the management of LankaBangla Finance Limited stands resolute to the commitment of improved performance for coming years. Going forward in 2019, following strategies will be instrumental in setting priorities and focus of LankaBangla Group:

  • To bolster our strong market position among the NBFIs by capitalizing the network effect of our wide branch coverage, leveraging existing relationships through cross selling and optimizing balance sheet for high-risk adjusted return.
  • We will continue to diversify our revenue streams, reduce portfolio concentration and explore niche markets that have either superior return or reduced risk. We focus on the markets that matches our organizational strength.
  • Strong corporate governance and adhering to strict compliance standards are two of the guiding ethos of LBFL. Vigorous effort to improve and maintain adequate liquidity, full compliance to all regulatory requirements will be our priorities like all other years.
  • To maintain and leverage our leading position to materialize opportunities in capital market.

I would like to express my sincere thanks to the Board of Directors of the company for their valuable guidance and efforts to keep LankaBangla Finance Limited on right track. We are ever thankful to Bangladesh Bank, Bangladesh Securities and Exchange Commission, National Board of Revenue, Dhaka Stock Exchange, Chittagong Stock Exchange, Central Depository Bangladesh Limited, Registrar of Joint Stock Companies and Firms and all other relevant entities for their tremendous support, trust and indispensable contributions. Special thanks to our depositors and customers for believing in LankaBangla Brand. At LankaBangla Finance Limited, we believe in long-term sustainable performance and value we create though executing our long term strategies. We reiterate that fulfilling the commitment to our shareholders will remain the most important yardstick of our management’s success.

Yours sincerely,
Mohammad A. Moyeen

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Managing Director's

Review & Statement

We have been able to bolster our capital base with diversified fund sources, build the image of a customer centric organization and provide full range of financial services maintaining good governance, transparency, credibility and advanced IT backbone inspite of the challenges from industry competitiveness, liquidity tightening and bearish capital market.

Dear Stakeholders,

We have overcome a challenging year with the cooperation of all and become stronger as a Group. Year long liquidity tightening, sheer underperformance of capital market impacted the bottom-line results but last five years' impressive result will surely continue in coming days as we change ourselves in this dynamic business environment, intervene with strategies that conforms to sustainability and long-termism.

Investor Relation Department

Masum Ali

Vice President, Board Secretariat & Regulatory Affairs

Address : Safura Tower, Level-14 20 Kemal Ataturk Avenue Banani, Dhaka 1213
Phone : +880 2 9883701-10, Ext 402
Cell : +88 01713 069817
Fax : +880 2 8810998
E-mail :