UTTARA BANK PLC.

FINANCIAL STATEMENTS
30 JUNE 2024 (UN-AUDITED)

UTTARA BANK PLC.

 UTTARA BANK PLC.
CONSOLIDATED BALANCE SHEET (UN-AUDITED)
AS AT 30 JUNE 2024

Amount in Taka
Notes
PROPERTY AND ASSETS 30 June 2024 31 December 2023
Cash
Cash in Hand (including foreign currencies) 5,539,930,492 4,710,396,559
Balance with Bangladesh Bank and its
agent Bank(s) (including foreign currencies) 10,947,738,881 11,661,279,388
16,487,669,373 16,371,675,947
Balance with other Banks and
Financial institutions
In Bangladesh 269,280,735 1,940,092,817
Outside Bangladesh 2,071,334,247 1,036,291,075
2,340,614,982 2,976,383,892

Money at call on short notice 6,800,000,000 1,800,000,000

Investments
Government 36,383,861,974 35,943,151,300
Others 4,938,720,444 5,564,127,576
41,322,582,418 41,507,278,876

Loans and Advances

Loans, cash credits, overdrafts etc. 172,424,651,875 176,823,143,630
Bills purchased and discounted 3,131,967,528 2,202,633,258
175,556,619,403 179,025,776,888
Fixed assets including land, building,
furniture and fixtures 2,915,622,278 2,722,855,201
Other Assets 20,662,535,857 19,201,785,293
Non Banking Assets 56,419,685 56,419,685
TOTAL ASSETS 266,142,063,996 263,662,175,782

LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY

LIABILITIES
Borrowings from other Banks,
Financial Institutions and Agents 2,398,653,064 2,995,201,019

Deposits and other accounts

Current and other accounts 57,414,264,476 57,664,102,273
Bills payable 6,899,892,575 7,514,240,005
Savings bank deposits 65,571,855,525 65,784,633,634
Fixed deposits 68,980,576,814 68,662,132,926
Other deposits 8,064,643,949 7,161,197,805
206,931,233,339 206,786,306,643

Other Liabilities 33,325,486,014 31,099,573,342

TOTAL LIABILITIES 242,655,372,417 240,881,081,004

CAPITAL/SHAREHOLDERS' EQUITY
Paid up capital 8,257,607,420 7,340,095,480
Statutory reserve 7,478,518,637 7,478,518,637
Other reserves 5,164,936,492 5,114,856,325
Surplus in profit and loss account 2,585,595,108 2,847,588,565
23,486,657,657 22,781,059,007
Non controlling interest 33,922 35,771
TOTAL CAPITAL/SHAREHOLDERS' EQUITY 23,486,691,579 22,781,094,778
TOTAL LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY 266,142,063,996 263,662,175,782

Page 1 of 15
 UTTARA BANK PLC.
CONSOLIDATED BALANCE SHEET (UN-AUDITED)
AS AT 30 JUNE 2024

Amount in Taka
Notes
30 June 2024 31 December 2023
OFF BALANCE SHEET ITEMS
Contingent Liabilities
Acceptances & Endorsements 5,973,289,620 5,223,871,319
Letters of guarantee 6,114,398,010 6,375,264,794
Irrevocable letters of credit 12,787,526,251 11,435,561,247
Bills for collection 11,250,508,974 9,335,740,980
36,125,722,855 32,370,438,340

Other Commitments
Documentary credits and short term
trade-related transactions - -
Forward assets purchased and forward
deposits placed - -
Undrawn note issuance and revolving
underwriting facilities - -
Undrawn formal standby facilities,
credit lines and other commitments - -
- -

Total Off Balance Sheet Items

including Contingent Liabilities & Other Commitments 36,125,722,855 32,370,438,340
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 2 of 15
 UTTARA BANK PLC.
CONSOLIDATED PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE PERIOD ENDED 30 JUNE 2024

Particulars 01 January to 01 January to 01 April to 01 April to

Notes 30 June 30 June 30 June 30 June
2024 2023 2024 2023
Taka Taka Taka Taka
OPERATING INCOME
Interest Income 9,141,981,992 6,580,217,163 4,846,383,683 3,317,928,647
Interest paid on deposits and borrowings etc. 3,915,788,471 3,196,862,789 2,011,588,647 1,650,092,097
Net Interest Income 5,226,193,521 3,383,354,374 2,834,795,036 1,667,836,550
Investment Income 1,766,007,633 1,678,778,507 964,238,107 841,413,953
Commission, Exchange and Brokerage 756,319,206 683,816,081 511,761,258 335,838,128
Other Operating Income 402,823,261 475,750,352 275,425,529 395,508,202
Total operating income 8,151,343,621 6,221,699,314 4,586,219,930 3,240,596,833
OPERATING EXPENSES
Salary and allowances 2,375,253,888 2,298,915,691 1,225,347,000 1,162,544,467
Rent, taxes, insurance, electricity etc. 266,595,955 247,248,384 123,082,426 128,952,367
Legal expenses 23,109,461 19,917,492 13,385,203 11,703,558
Postage, stamp, telecommunication etc. 36,778,986 33,032,537 20,821,932 18,454,750
Stationery, printing, advertisements etc. 102,172,216 90,733,526 25,106,956 62,675,237
Managing Director's salary & allowances 14,591,783 12,881,086 9,295,701 9,227,491
Directors' fees 3,944,755 2,935,500 3,196,255 2,285,000
Auditors' fees 946,000 746,000 200,000 100,000
Charges on loan losses - - - -
Repair, maintenance and depreciation -
of Bank's property 173,437,975 159,813,081 104,333,875 83,683,107
Other expenses 566,072,876 322,991,145 326,155,233 142,156,829
Total operating expenses 3,562,903,895 3,189,214,442 1,850,924,581 1,621,782,806

Profit before provision 4,588,439,726 3,032,484,872 2,735,295,349 1,618,814,027

Provision
Provision for loans & advances 761,000,000 646,500,000 221,000,000 346,500,000
Provision for diminution in value of investments - - - -
Provision for others 24,000,000 - 24,000,000 -
785,000,000 646,500,000 245,000,000 346,500,000
Profit before tax 3,803,439,726 2,385,984,872 2,490,295,349 1,272,314,027
Provision for Taxation
Current tax 1,869,358,623 1,183,544,889 1,117,821,291 615,130,859
Deferred tax (5,952,240) (3,877,372) (2,381,361) (1,914,025)
1,863,406,383 1,179,667,517 1,115,439,930 613,216,834
Profit after taxation 1,940,033,343 1,206,317,355 1,374,855,419 659,097,193
Non controlling interest (1,849) (520) (1,131) (707)
Profit after taxation without non controlling interest 1,940,035,192 1,206,317,875 1,374,856,550 659,097,900
Retained earning brought forward 645,559,916 601,831,260 645,559,916 601,831,260
Profit available for appropriations 2,585,595,108 1,808,149,135 2,020,416,466 1,260,929,160
Appropriations
Statutory reserve - - - -
General reserve - - - -
- - - -
Retained surplus 2,585,595,108 1,808,149,135 2,020,416,466 1,260,929,160
Earnings Per Share (EPS) 4.5 2.35 1.46 1.66 0.80
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 3 of 15
 UTTARA BANK PLC.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE PERIOD ENDED 30 JUNE 2024
(Amount in Taka)
Paid up Statutory Other Retained Non Controlling
Particulars Total
Capital Reserve Reserves Earnings Interest
Balance as at 01 January 2024 7,340,095,480 7,478,518,637 5,114,856,325 2,847,588,565 35,771 22,781,094,778
Transfer to General Reserve - - - - - -
Cash Dividend - - - (1,284,516,709) - (1,284,516,709)
Stock Dividend 917,511,940 (917,511,940) - -
Adjustment for UB Capital and Investment Ltd. - - -
Adjustment of Dividend Payable - -
Transfer from Asset Revaluation Reserve - - - -
Restated opening balance 8,257,607,420 7,478,518,637 5,114,856,325 645,559,916 35,771 21,496,578,069
Surplus/(deficit) of Revaluation Reserve on Govt.
- - 50,080,167 - - 50,080,167
Securities
Transfer to Deferred Tax Liability for Asset
- - - - - -
Revaluation
Transfer to Fixed Asset for Asset Revaluation - -
Adjustment of NBA - -
Net profit after Tax - - - 1,940,033,343 - 1,940,033,343
Non Controlling Interest - - - 1,849 (1,849) -
Appropriations during the year
Transfer to Statutory Reserve - - - - - -
Transfer to General Reserve - - - - - -
Transfer to Start-up Fund - - - - - -
Balance as at 30 June 2024 8,257,607,420 7,478,518,637 5,164,936,492 2,585,595,108 33,922 23,486,691,579
Balance as at 30 June 2023 7,338,625,320 6,577,766,986 5,053,168,822 1,808,149,135 37,111 20,777,747,374
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 4 of 15
 UTTARA BANK PLC.
CONSOLIDATED CASH FLOW STATEMENT (UN-AUDITED)
FOR THE PERIOD ENDED 30 JUNE 2024

Amount in Taka
Notes
01 January to 01 January to
30 June 2024 30 June 2023
A. Cash flows from operating activities
Interest receipts in cash 10,539,979,501 8,131,246,823
Interest payments (3,227,934,855) (2,798,148,652)
Dividend receipts 120,937,679 48,619,330
Fees and commission receipts in cash 831,229,914 794,330,338
Recoveries on loans previously written off - -
Cash payments to employees (2,683,560,464) (2,631,064,851)
Cash payments to suppliers (433,041,970) (435,285,817)
Income tax paid (1,396,962,925) (1,017,245,720)
Receipts from other operating activities 392,284,729 484,903,990
Payments for other operating activities (543,908,296) (371,387,509)
Operating cash flow before changes in operating 3,599,023,313 2,205,967,932
assets and liabilities
Increase/(decrease) in operating assets and liabilities
Purchase/sale of trading securities (471,465,112) (8,136,241,781)
Loans and advances to customers 3,469,157,485 (904,264,627)
Other assets 193,823,338 (539,687,690)
Deposits from other Banks - -
Deposits from customers (542,926,920) 1,594,071,796
Other liabilities (798,003,527) 837,668,104
1,850,585,264 (7,148,454,198)
Net cash received from/(used in) operating activities 5,449,608,577 (4,942,486,266)
B. Cash flows from investing activities
Proceeds from sale/payments for purchase of securities 659,790,570 2,491,372,026
Purchase of property, plants and equipments (320,089,336) (60,685,265)
Sale of property, plants and equipments - -
Net cash received from/(used in) investing activities 339,701,234 2,430,686,761
C. Cash flows from financing activities
Dividend paid (1,230,545,587) (869,551,746)
Net cash received from/(used in) financing activities (1,230,545,587) (869,551,746)
D. Net Increase/ (decrease) in cash and cash equivalents (A+B+C) 4,558,764,224 (3,381,351,251)
E. Effects of exchange rate changes on cash and cash equivalents (74,910,708) (110,514,257)
F. Opening cash and cash equivalents 21,155,251,439 26,617,161,406
G. Closing cash and cash equivalents (D+E+F) 25,639,104,955 23,125,295,898
Closing Cash and cash equivalents
Cash in hand (including foreign currencies ) 5,539,930,492 2,527,017,332
Bal. with Bangladesh Bank & its agent Banks (including foreign currencies) 10,947,738,881 12,255,429,554
Balance with other banks and financial institutions 2,340,614,982 2,135,036,912
Money at call 6,800,000,000 6,200,000,000
Prize Bond 10,820,600 7,812,100
25,639,104,955 23,125,295,898
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 5 of 15
 UTTARA BANK PLC.
BALANCE SHEET (UN-AUDITED)
AS AT 30 JUNE 2024
Amount in Taka
Notes
30 June 2024 31 December 2023
PROPERTY AND ASSETS
Cash .
Cash in Hand (including foreign currencies) 5,539,075,769 4,698,673,347
Balance with Bangladesh Bank and its
agent Bank(s) (including foreign currencies) 10,947,738,881 11,661,279,388
16,486,814,650 16,359,952,735
Balance with other Banks and
Financial institutions
In Bangladesh 198,853,265 1,855,315,463
Outside Bangladesh 2,071,334,247 1,036,291,075
2,270,187,512 2,891,606,538

Money at call on short notice 6,800,000,000 1,800,000,000

Investments
Government 36,383,861,974 35,943,151,300
Others 3,198,465,598 3,776,608,210
39,582,327,572 39,719,759,510
Loans and Advances
Loans, cash credits, overdrafts etc. 175,128,487,519 179,529,225,954
Bills purchased and discounted 3,131,967,528 2,202,633,258
178,260,455,047 181,731,859,212
Fixed assets including land, building,
furniture and fixtures 2,908,644,988 2,714,889,924
Other Assets 19,315,614,569 17,942,192,653
Non Banking Assets 56,419,685 56,419,685
TOTAL ASSETS 265,680,464,023 263,216,680,257
LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY
LIABILITIES
Borrowings from other Banks,
Financial institutions and Agents 2,398,653,064 2,995,201,019

Deposits and other accounts

Current and other accounts 57,561,389,273 57,751,778,268
Bills payable 6,899,892,575 7,514,240,005
Savings bank deposits 65,571,855,525 65,784,633,634
Fixed deposits 68,980,576,814 68,662,132,926
Other deposits 8,064,643,949 7,161,197,805
207,078,358,136 206,873,982,638

Other Liabilities 32,782,128,636 30,662,593,972

TOTAL LIABILITIES 242,259,139,836 240,531,777,629
CAPITAL/SHAREHOLDERS' EQUITY
Paid up capital 8,257,607,420 7,340,095,480
Statutory reserve 7,460,000,000 7,460,000,000
Other reserves 5,164,936,492 5,114,856,325
Surplus in profit and loss account 2,538,780,275 2,769,950,823
TOTAL CAPITAL/SHAREHOLDERS' EQUITY 4.0 23,421,324,187 22,684,902,628
TOTAL LIABILITIES AND CAPITAL/SHARE HOLDERS' EQUITY 265,680,464,023 263,216,680,257

Page 6 of 15
 UTTARA BANK PLC.
BALANCE SHEET (UN-AUDITED)
AS AT 30 JUNE 2024

Amount in Taka
Notes
30 June 2024 31 December 2023

OFF BALANCE SHEET ITEMS

Contingent Liabilities
Acceptances & Endorsements 5,973,289,620 5,223,871,319
Letters of guarantee 6,114,398,010 6,375,264,794
Irrevocable letters of credit 12,787,526,251 11,435,561,247
Bills for collection 11,250,508,974 9,335,740,980
36,125,722,855 32,370,438,340

Other Commitments
Documentary credits and short term
trade-related transactions - -
Forward assets purchased and forward
deposits placed - -
Undrawn note issuance and revolving
underwriting facilities - -
Undrawn formal standby facilities,
credit lines and other commitments - -
- -

Total Off Balance Sheet Items

Including Contingent Liabilities & Other Commitments 36,125,722,855 32,370,438,340
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 7 of 15
 UTTARA BANK PLC.
PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE PERIOD ENDED 30 JUNE 2024

Particulars 01 January to 01 January to 01 April to 01 April to

Notes 30 June 30 June 30 June 30 June
2024 2023 2024 2023
Taka Taka Taka Taka
OPERATING INCOME
Interest Income 9,178,255,205 6,605,155,523 4,872,554,073 3,331,407,632
Interest paid on deposits and borrowings etc. 3,915,797,843 3,196,971,155 2,011,598,019 1,650,200,463
Net Interest Income 5,262,457,362 3,408,184,368 2,860,956,054 1,681,207,169
Investment Income 1,748,707,284 1,654,600,586 949,630,289 834,640,136
Commission, Exchange and Brokerage 742,072,287 672,695,897 505,831,833 329,683,761
Other Operating Income 404,338,235 477,004,612 276,182,013 396,266,907
Total Operating Income 8,157,575,168 6,212,485,463 4,592,600,189 3,241,797,973
OPERATING EXPENSES -
Salary and allowances 2,365,251,692 2,291,666,251 1,219,910,738 1,158,585,097
Rent, taxes, insurance, electricity etc. 266,539,458 247,225,556 123,118,063 128,929,539
Legal expenses 22,896,711 19,373,617 13,172,453 11,159,683
Postage, stamp, telecommunication etc. 36,590,468 32,850,773 20,726,683 18,354,054
Stationery, printing, advertisements etc. 102,130,380 90,569,900 25,083,702 62,578,229
Managing Director's salary & allowances 14,591,783 12,881,086 9,295,701 9,227,491
Directors' fees 3,812,505 2,832,000 3,098,505 2,216,000
Auditors' fees 900,000 700,000 200,000 100,000
Charges on loan losses - - - -
Repair, maintenance and depreciation -
of Bank's property 172,223,031 158,676,078 103,845,688 83,095,640
Other expenses 562,994,380 320,239,177 324,521,222 140,371,767
Total Operating Expenses 3,547,930,408 3,177,014,438 1,842,972,755 1,614,617,500
- -
Profit before Provision 4,609,644,760 3,035,471,025 2,749,627,434 1,627,180,473
Provision -
Provision for loans & advances 4.2 761,000,000 646,500,000 245,000,000 346,500,000
Provision for others 24,000,000 - - -
785,000,000 646,500,000 245,000,000 346,500,000
Profit before tax 3,824,644,760 2,388,971,025 2,504,627,434 1,280,680,473
Provision for Taxation 4.3 -
Current tax 1,859,583,601 1,177,805,969 1,113,269,135 611,684,218
Deferred tax (5,796,942) (3,812,686) (2,303,652) (1,878,625)
1,853,786,659 1,173,993,283 1,110,965,483 609,805,593
Profit after taxation 4.4 1,970,858,101 1,214,977,742 1,393,661,951 670,874,880
Retained earning brought forward 567,922,174 492,439,111 567,922,174 492,439,111
Profit available for appropriation 2,538,780,275 1,707,416,853 1,961,584,125 1,163,313,991
Appropriations -
Statutory reserve - - - -
General reserve - - - -
- - - -

Retained surplus 2,538,780,275 1,707,416,853 1,961,584,125 1,163,313,991

Earnings Per Share (EPS) 4.5 2.39 1.47 1.69 0.81
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 8 of 15
 UTTARA BANK PLC.
STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE PERIOD ENDED 30 JUNE 2024
(Amount in Taka)
Paid up Statutory Other Retained
Particulars Total
Capital Reserve Reserves Earnings
Balance as at 01 January 2024 7,340,095,480 7,460,000,000 5,114,856,325 2,769,950,823 22,684,902,628
Transfer to General Reserve - - - - -
Cash Dividend - - - (1,284,516,709) (1,284,516,709)
Stock Dividend 917,511,940 - - (917,511,940) -
Adjustment of Dividend Payable - - - -
Transfer from Asset Revaluation Reserve - - -
Restated opening balance 8,257,607,420 7,460,000,000 5,114,856,325 567,922,174 21,400,385,919
Surplus/(deficit) of Revaluation Reserve on Govt. Securities - - 50,080,167 - 50,080,167
Transfer to Deferred Tax Liability for Asset Revaluation - - - - -
Transfer to Fixed Asset for Asset Revaluation - - - - -
Adjustment of NBA - -
Net profit after Tax - - - 1,970,858,101 1,970,858,101
Appropriations during the year
Transfer to Statutory Reserve - - - - -
Transfer to General Reserve - - - - -
Transfer to Start-up Fund - - - - -
Balance as at 30 June 2024 8,257,607,420 7,460,000,000 5,164,936,492 2,538,780,275 23,421,324,187
Balance as at 30 June 2023 7,338,625,320 6,560,000,000 5,053,168,822 1,707,416,853 20,659,210,995
These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 9 of 15
 UTTARA BANK PLC.
CASH FLOW STATEMENT (UN-AUDITED)
FOR THE PERIOD ENDED 30 JUNE 2024
Amount in Taka
Notes
01 January to 01 January to
30 June 2024 30 June 2023
A. Cash flows from operating activities
Interest receipts in cash 10,588,237,961 8,155,965,373
Interest payments (3,227,944,227) (2,798,257,018)
Dividend receipts 91,652,083 24,661,219
Fees and commission receipts in cash 816,982,995 783,210,154
Recoveries on loans previously written off - -
Cash payments to employees (2,673,558,268) (2,623,815,411)
Cash payments to suppliers (432,554,214) (434,697,788)
Income tax paid (1,387,187,876) (1,006,175,662)
Receipts from other operating activities 404,338,235 477,004,612
Payments for other operating activities (540,424,013) (367,910,585)
Operating cash flow before changes in operating 3,639,542,676 2,209,984,894
assets and liabilities
Increase/(decrease) in operating assets and liabilities
Purchase/sale of trading securities (518,729,632) (8,135,726,306)
Loans and advances to customers 3,471,404,165 (904,031,525)
Other assets 260,838,405 (499,467,914)
Deposits from other banks - -
Deposits from customers (483,478,118) 1,608,449,756
Other liabilities (894,776,598) 851,679,817
1,835,258,222 (7,079,096,172)
Net cash received from/(used in) operating activities 4.8 5,474,800,898 (4,869,111,278)
B. Cash flows from investing activities
Proceeds from sale/payments for purchase of securities 659,790,570 2,491,372,026
Purchase/Sale of property, plants and equipments (320,063,284) (60,192,675)
Sale of property, plants and equipments - -
Net cash received from/(used in) investing activities 339,727,286 2,431,179,351
C. Cash flows from financing activities
Dividend paid (1,230,545,587) (869,551,746)
Net cash received from/(used in) financing activities (1,230,545,587) (869,551,746)
D. Net Increase/(decrease) in cash and cash equivalents (A+B+C) 4,583,982,597 (3,307,483,673)
E. Effects of exchange rate changes on cash and cash equivalents (74,910,708) (110,514,257)
F. Opening cash and cash equivalents 21,058,750,873 26,492,349,332
G. Closing cash and cash equivalents (D+E+F) 25,567,822,762 23,074,351,402
Closing cash and cash equivalents
Cash in hand (including foreign currencies ) 5,539,075,769 2,527,009,520
Bal. with Bangladesh Bank & its agent Bank(s) (including foreign currencies) 10,947,738,881 12,255,429,554
Balance with other banks and financial institutions 2,270,187,512 2,084,100,228
Money at call 6,800,000,000 6,200,000,000
Prize Bond 10,820,600 7,812,100
25,567,822,762 23,074,351,402

These financial statements should be read in conjunction with the annexed notes.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 10 of 15
 Selected explanatory notes to the Financial Statements
as at and for the period ended 30 June 2024

1.0 Legal status and Nature of the Bank

Uttara Bank PLC. (The Bank) had been a nationalized bank in the name of Uttara Bank under the Bangladesh Bank
(Nationalization) order 1972, formerly known as the Eastern Banking Corporation Limited. The Bank started
functioning on and from 28 January 1965. Consequent upon the amendment of Bangladesh Bank (Nationalization)
Order 1972, the Uttara Bank was converted into Uttara Bank Limited as a public Limited company in the year 1983. The
Uttara Bank PLC. was incorporated as a banking company on 29 June 1983 and obtained business commencement
certificate on 21 August 1983.The Bank floated its shares in the year 1984. The Bank is listed in the Dhaka Stock
Exchange PLC. and Chittagong Stock Exchange PLC. as a publicly listed company for trading of its shares. The name of
the Bank has been changed to Uttara Bank PLC. on 03 July, 2023 as approved by Bangladesh Bank.

The Registered Office of the Bank is located at 47, Shahid Bir Uttam Asfaqus Samad Sarak (Former 90, Motijheel C/A),
Dhaka-1000. It has 247 branches, 39 sub-branches and 32 ATM booths all over Bangladesh through which it carries out
all its banking activities.

2.0 Principal activities

The principal activities of the Bank are to provide all kinds of commercial banking services to its customers through its
branches/sub-branches in Bangladesh.

3.0 Accounting policies

Accounting policies in the second quarter Financial Statements are same as those were applied on its last annual
Financial Statements of December 31, 2023. Consolidated Financial Statements include the position of Uttara Bank
PLC. and Uttara Bank Securities Limited.

3.1 The consolidated and separate financial statements of the Group and the Bank respectively have been prepared in
accordance with International Financial Reporting Standards (IFRSs) as adopted by the Institute of Chartered
Accoutants of Bangladesh (ICAB) and in addition to this the Bank complied with the requirements of the following laws
and regulations from various Government bodies:
1. The Bank Company Act, 1991 and amendment thereon;
2. The Companies Act, 1994;
3. Circulars, Rules and Regulations issued by Bangladesh Bank (BB) from time to time;
4. Bangladesh Securities and Exchange Rules 1987, Bangladesh Securities and Exchange ordinance 1969 and
Bangladesh Securities and Exchange Act 1993, Bangladesh Securities and Exchange Commission (Public Issue) Rules
2015;
5. The income tax Act -2023;
6. The Value Added Tax Act, 2012 and amendment thereon;
7. Dhaka Stock Exchange PLC (DSE), Chittagong Stock Exchange PLC (CSE) and Central Depository Rules and
Regulations and
8. Financial Reporting Act 2015.
In case of any requirement of the Bank Company Act 1991, and provisions and circulars issued by Bangladesh Bank
(BB) differ with those of IFRSs, the requirements of the Bank Company Act 1991, and provisions and circulars issued
by BB shall prevail.

Page 11 of 15
4.0 Shareholders' Equity - Solo
Amount in Taka
Particulars
30 June 2024 30 June 2023

Paid up capital (Number of Ordinary shares 825,760,742 for 30 June 2024 &
733,862,532 for 30 June 2023 @ Tk. 10 each) 8,257,607,420 7,338,625,320

Statutory reserve 7,460,000,000 6,560,000,000

General reserve 3,355,633,339 3,355,633,339
Fixed assets revaluation reserve 1,455,576,933 1,455,576,933
Investment revaluation reserve 289,299,220 177,531,550
Dividend equalisation reserve 64,427,000 64,427,000
Retained earnings 2,538,780,275 1,707,416,853
23,421,324,187 20,659,210,995

4.1 Operating profit (Solo)

Bank's operating profit for the Second quarter (Q2) ended 30 June 2024 increased by Tk. 1,574,173,735 compared to its
previous corresponding quarter ended 30 June 2023 mainly due to increase of interest income, Investment Income,
commission, Exchange and Brokerage Income and etc.

4.2 Provision for loans & advances and Off balance sheet exposure (Solo)
Provision against loans and advances has been made as per Bangladesh Bank’s rules and regulations in force. Provision
has been increased by Tk. 114,500,000 for the second quarter (Q2) ended 30 June 2024 compared to the previous
corresponding second quarter (Q2) ended 30 June 2023.

4.3 Provision for taxation (Solo)

Provision for income tax has been shown @37.50%, as prescribed in finance act-2024 of the accounting profit made by
the bank after considering some of the taxable income including provision for loans & advances. Mentionable here that
current & deferred tax of the bank as on 30 June 2024 stands at Tk.1,859,583,601 and Tk. (5,796,942) respectively.

Deferred Tax (Asset)

Amount in Taka
Particulars
30 June 2024 30 June 2023
Carrying Value of depreciable fixed assets 1,296,774,652 1,019,457,479
Tax base value of depreciable fixed assets 1,342,858,638 1,034,642,952
Net taxable temporary difference -Liability/Assets (46,083,986) (15,185,473)
Tax Rate 37.50% 37.50%
Closing Deferred Tax Liability/Assets (17,281,495) (5,694,553)
Opening Deferred Tax Liability/Assets (11,484,553) (1,881,867)
Deferred TaxExpense / (income) for the period ended 30 June 2024
(5,796,942) (3,812,686)

4.4 Net profit after taxation (Solo)

Net profit after taxation for the second quarter (Q2) ended 30 June 2024 increased by Tk. 755,880,359 compared to its
previous corresponding quarter ended 30 June 2023 mainly due to increase of interest income, Investment Income,
commission, Exchange and Brokerage Income and etc.

Page 12 of 15
4.5 Earnings Per Share (EPS)*
Earnings Per Share (EPS) has been calculated in accrordance with IAS - 33 "Earnings Per Share".

01 January to 30 June 01 January to 30 01 April to 30 01 April to 30 June

2024 June 2023 June 2024 2023

Net profit after taxation -

1,970,858,101 1,214,977,742 1,393,661,951.00 670,874,880
Solo (Taka)
Net profit after taxation -
1,940,033,343 1,206,317,355 1,374,855,419.00 659,097,193
Consolidated (Taka)

Number of shares
outstanding 825,760,742 825,760,742 825,760,742 825,760,742
Earnings Per Share (EPS) calculation
Earnings Per Share (EPS) -
Solo (Taka) 2.39 1.47 1.69 0.81

Earnings Per Share (EPS) -

2.35 1.46 1.66 0.80
Consolidated (Taka)
*Earnings Per Share (EPS) increased mainly due to increase of interest income, Investment Income, commission,
Exchange and Brokerage Income and etc over the same period of last year.

4.6 Net Asset Value (NAV) per share*

30 June 2024 30 June 2023
Net Asset Value (NAV) - Solo (Taka) 23,421,324,187 20,659,210,995
Net Asset Value (NAV)-Consolidated (Taka) 23,486,691,579 20,777,747,374

Number of Shares outstanding 825,760,742 825,760,742

Net Asset Value (NAV) calculation
Net Asset Value (NAV) per share -Solo (Taka) 28.36 25.02
Net Asset Value (NAV) per share - Consolidated (Taka) 28.44 25.16
* Net Asset Value Per Share (NAVPS) increased in the current period mainly due to increase of paid up capital,
statutory reserve and retained earnings compared to the previous corresponding period.

4.7 Net Operating Cash Flow Per Share (NOCFPS)*

30 June 2024 30 June 2023
Net Operating Cash Flow (NOCFPS) - Solo (Taka)
5,474,800,898 (4,869,111,278)

Net Operating Cash Flow (NOCFPS) - Consolidated

(Taka) 5,449,608,577 (4,942,486,266)

Number of Shares outstanding 825,760,742 825,760,742

Net Operating Cash Flow calculation
Net Operating Cash Flow Per Share (NOCFPS) - Solo
6.63 (5.90)
(Taka)
Net Operating Cash Flow Per Share (NOCFPS) -
6.60 (5.99)
Consolidated (Taka)

* Net Operating Cash Flow Per Share (NOCFPS) inecreased in the current period mainly due to increase of interest
receipt in cash, divided receipts, fee & commission and etc. receipts in cash compared to the previous corresponding
period.

Page 13 of 15
4.8 Reconciliation of statement of cash flows from operating activities (Solo)
30 June 2024 30 June 2023
Profit after taxation 1,970,858,101 1,214,977,742
Adjustment of non cash andnon operating items
Depreciation 126,308,220 108,280,059
Provision (Tax) 1,853,786,659 1,173,993,283
Provision (loan and others) 785,000,000 646,500,000
Effects on Exchange Loss on Foreign Currency 74,910,708 110,514,257
Decrease in Bonus Paybale (293,714,793) (319,268,074)
Income taxes paid (1,387,187,876) (1,006,175,662)
Decrease in interest receivable (247,072,445) (79,129,517)
Increase in interest payable 687,853,616 398,714,137
Increase in total Expenditure payable 18,620,903 (13,655,540)
Increase in other payable 50,179,583 (24,765,791)
1,668,684,575 995,007,152
Changes in operating assets and liabilties
Changes in loans and advances 3,471,404,165 (904,031,525)
Changes in Deposit and other accounts (483,478,118) 1,608,449,756
Changes in investments /Purchase/sale of trading securities (518,729,632) (8,135,726,306)
Changes in other assets 260,838,405 (499,467,914)
Changes in other liabilities (894,776,598) 851,679,817
1,835,258,222 (7,079,096,172)
Net Cash Received From Operating Activities 5,474,800,898 (4,869,111,278)

4.9 Unclaimed Dividend Account

As per Bangladesh Securities and Exchange Commissionletter No. BSEC/SRMIC/2021-198/254 dated 19.10.2021 the
"Unclaimed Dividend Account" of the Bank is as under.

30 June 2024

Particular Amount in Tk.

Dividend Payable-2018 26,993,916
Dividend Payable-2019 10,793,211
Dividend Payable-2020 21,275,968
Dividend Payable-2021 26,064,100
Dividend Payable-2022 30,942,411
Dividend Payable-2023 54,387,536
Total 170,457,142
5.0 Credit Rating (Surveillance)
As per the BRPD circular No. 06 Dated 5 July 2006, the Bank has done its credit rating by Emerging Credit Rating
Limited (ECRL) on 30 June 2024 based on the audited financial statements of 31 December 2023 and the following
rating was awarded:

Credit Rating Report (Surveillance) on Uttara Bank PLC. for the year 2023 and 2022 respectively furnish below

Year
Rating
2023 2022
Long term AA AA
Short Term ST-2 ST-2
Outlook Stable Stable
Valid From 01 July 2024 01 July 2023
Valid Till 30 June 2025 30 June 2024
Rating Action Surveillance Surveillance
Date of Rating 30 June 2024 26 June 2023
Emerging Credit Rating Limited (ECRL) Emerging Credit Rating Limited (ECRL)
Rated By

Page 14 of 15
 6.0 General

6.1 Figures appearing in the Financial Statements have been rounded off to the nearest taka.

6.2 Figures of previous period have been rearranged wherever necessary to conform to current period's presentation.

6.3 Approval of second quarter un-audited Financial Statements

The second quarter (Q2) un-audited Financial Statements as at and for the period ended on 30 June 2024 were approved
by the Board of Directors of the Bank in it's 813th Board of Directors' meeting held on 11 July 2024.

(IFTEKHAR ZAMAN) (MD. GOLAM MUSTAFA, FCA) (MOHAMMED RABIUL HOSSAIN)

Executive General Manager & Secretary Executive General Manager & CFO Managing Director & CEO

Dated: Dhaka (ABUL BARQ ALVI) (WALIUL HUQ KHANDKER)

11 July 2024 Director Director

Page 15 of 15