Askari Bank Annual Report

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  • Topic: Bank, Banking, Retail banking
  • Pages : 392 (93017 words )
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  • Published : August 29, 2010
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Annual Report for the year ended December 31, 2009

Moving a click ahead

Moving a click ahead
At Askari, we believe there is no substitute to technology. Technology drives creativity, innovation, and the future. With this belief we have embarked upon a major initiative by introducing stateof-the-art technology solutions for all key areas of banking i.e., core banking, client relationship, human resource, risk management, finance and vendor management, to make ourselves ready for the banking of the future, to operate in a hi-tech era and to enhance our capabilities to compete in the local and global marketplace. It isn’t just about a year or two, we are set to turn intersecting ideas and our fledgling technologies into a bank that can continue to innovate in times to come. We are excited about entering into a new era of technological advancements and that is the expression on this year’s cover.

Contents
01 02 04 06 08 10 12 16 18 19 20 21 22 24 28 30 31 32 44 46 47 48 50 52 Financial Highlights Pakistan’s Economic Profile 18 Years of banking What we stand for Vision & Mission Corporate Information Directors’ Profile Notice of 18th Annual General Meeting Management Organogram Risk Management Framework Entity Ratings Corporate Social Responsibility President’s Message Technology Initiative Value Added Statement Askari Bank’s Presence Business and Operations Review Financial Review Financial Calendar Share & Debt Information Horizontal & Vertical Analysis Decade’s Performance Summary Directors’ Report

Financial Statements of Askari Bank Limited
67 69 70 72 73 74 75 76 Statement of Compliance Review Report to the Members Auditors’ Report to the Members Statement of Financial Position Profit and Loss Account Statement of Changes in Equity Cash Flow Statement Notes to the Financial Statements

Consolidated Financial Statements of Askari Bank Limited and its Subsidiaries 131 132 133 134 135 136 191 192 194 202 203 204 207 Auditors’ Report to the Members Consolidated Statement of Financial Position Consolidated Profit and Loss Account Consolidated Statement of Changes in Equity Consolidated Cash Flow Statement Notes to the Consolidated Financial Statements Pattern of Shareholding Correspondent Network Branch Network Statement of Financial Position in US dollars Profit and Loss Account in US dollars Glossary of Financial & Banking Terms Form of Proxy

Annual Report | 2009

Financial Highlights 2009

Profit

After Tax up by

Rs.1.108 billion (2008:Rs.386 million)

187%

Before Tax up by

Rs.1.642 billion (2008:Rs. 461 million)

256% 6%

Deposit
Increased by

Rs.206 billion (2008:Rs.168 billion)

23%

Advances
Increased by

Rs.148 billion (2008:Rs.140 billion)

Total Assets
Increased by

Rs.254 billion (2008:Rs.206 billion)

23%
EPS

Increased by

Rs.14.95 billion (2008:Rs.12.97 billion)

15%

Equity

Increased by

Rs.2.18 (2008:Re.0.76)

187%
Network

Market Value
of shares increased by

Rs.27.30 (2008:Rs.14.57)

87%

Payout
Stock Dividend: (2008: 25%)

20%

Increased to

from 200 of last year

226

page | 1

Askari Bank Limited | The Country

Pakistan’s Economic Profile
Country statistics Land area (sq. km) Population (million) Population growth (%) Population density (people/sq. km.) Life expectancy (years) Literacy (%) 796,100 166 1.80 206 64 56

At fiscal year end Economic indicators GDP Growth (%) GDP at current factor cost (Pak Rs. billion) GDP -at market prices (Pak Rs. billion) Inflation (%) Trade balance (USD million) Current account balance ex. Official transfers (USD million) Foreign currency reserves -year end (USD million) Exchange rate (USD) Exchange rate (Euro) Networth of the banking system (Pak Rs. billion) Total assets of the banking system (Pak Rs. billion) KSE 100 index points Stock market capitalization (Pak Rs. billion) At calendar year end Banking system Capital adequacy ratio - % Advances/Deposits ratio -% Return...
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