Annual Report 2016 of MIDAS Financing Limited

It is a broadly described annual report of MIDAS Financing Limited in the year of 2016. The Company (solo) gained profit after tax of Tk. 27.92 Crore during the period from 01st July 2015 to 31st December 2016 compared to Tk. 3.25 Crore in the previous year (2014-2015). The portfolio of loans and advances increased to Taka. 893.28 Crore, registering a record growth rate of 72%. The Deposit portfolio has grown by 102%. Total assets also increased by 62% compared to the previous year, from Taka. 651.43 (2014-2015) Crore to Taka. 1,055.53 Crore. This performance has reduced the Company’s cumulative loss to Taka (12.73) Crore from Taka (47.07) Crore. During the current period, EPS has stood at Tk. 2.22 against Tk. 1.24 of last period. As of 30th June 2015 retained earnings was Taka (441.10) million which now stands at Taka 1109.721 million (as of 31st December 2016).

The Board in its 277th meeting held on 07th May 2017 recommended no dividend on its paid-up capital. No dividend was declared for the Company’s shareholders for this year in view & the cumulative loss of Taka 12.73 Crore as of 31st December 2016. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company‚Äôs functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.

More Annual Report of MIDAS Financing Limited:

  1. Annual Report 2015 of MIDAS Financing Limited
  2. Annual Report 2016 of MIDAS Financing Limited