FIRST DAWOOD INVESTMENT
BANK LIMITED
Half Yearly Report
31 December 2022
FIRST DAWOOD INVESTMENT BANK LIMITED
CONTENTS
Corporate Information | 2 |
Directors' Report | 3 |
4 | |
Auditor's Report to the Member Of Interim Financial Information | 5 |
Condensed Interim Financial Position (Unaudited) | 7 |
Condensed Interim Profit & Loss Account (Unaudited) | 8 |
Condensed Interim Statement of Comprehensive Income (Unaudited) | 9 |
Condensed Interim Statement of Changes in Equity (Unaudited) | 10 |
Condensed Interim Cash Flow Statement (Unaudited) | 11 |
Notes to the Financial Statement (Unaudited) | 13 |
FIRST DAWOOD INVESTMENT BANK LIMITED
CORPORATE INFORMATION
Board of Directors | Mr. Christopher John Aitken Andrew | Chairman | |
Mr. Muhammad Rizwan-ul Haque | Director & CEO (Subject to SECP approval ) | ||
Mr. Khurshid A. Khair | Director | ||
Mr. Abu Khursheed M. Ariff | Director | ||
Mr. Iqbal Ahmed | Director (Subject to SECP approval ) | ||
Mr. Asad Ali Sheikh | Director (Subject to SECP approval ) | ||
Mrs. Farhat Ali | Director | ||
Audit Committee | Mr. Abu Khursheed M. Ariff | Chairman | |
Mr. Khurshid A. Khair | Member | ||
Mrs. Farhat Ali | Member | ||
HR&R Committee | Mr. Khurshid A. Khair | Chairman | |
Mr. Abu Khursheed M. Ariff | Member | ||
Mrs. Farhat Ali | Member | ||
Chief Financial Officer | |||
& | Mr. Syed Musharaf Ali | ||
Company Secretary | |||
Auditors | J.A.S.B & Associates | ||
Chartered Accountants | |||
Head of Internal Audit | Mr. Sohail Ahmed | ||
Legal Advisor | Nishtar & Zafar | ||
Legal counsels | A.Q. Abbasi & Associates | ||
Ansari AG Legal | |||
Kabraji & Talibuddin | |||
Khalil Asif Ejaz & Co. | |||
Malik and Malik Law Associates | |||
Raza Khalil Abbasi | |||
Bankers | AI-Baraka Islamic Bank Ltd. | ||
Bank AI-Habib Ltd. | |||
Habib Metropolitan Bank Ltd. | |||
MCB Bank Ltd. | |||
Registered Office | 19th Floor, Tower-B, Saima Trade Tower, | ||
Head Office | I. I. Chundrigar Road, | ||
Karachi-74000 | |||
PABX: | +92 (21) 32270182 | ||
FAX: +92 (21)3227-1912 | |||
Email : fdib@firstdawood.com | |||
URL | : www.firstdawood.com | ||
Share Registrar | F.D. Registrar Services (Pvt) Ltd. | ||
1705, 17th Floor, Saima Trade Tower-A, | |||
I.I. Chundrigar Road, Karachi-74000 | |||
Tel: +92 (21) 3547 8192-93 /021-32771906 | |||
Fax : +92 (21) 3262 1233 / 021-32271905 | |||
Email: fdregistrar@hotmail.com, fdregistrar@yahoo.com |
02
FIRST DAWOOD INVESTMENT BANK LIMITED
DIRECTORS' REPORT
IN THE NAME OF ALLAH THE MOST COMPASSIONATE, THE MOST MERCIFUL
Dear Shareholders,
The Board of Directors of First Dawood Investment Bank Limited ("FDIBL" or the "Company") are pleased to present the interim financial statements of the Company for the period ended December 31, 2022.
Board Composition and Remuneration
- The total number of directors are 04 as per the following:
- Male: 03
- Female: 01
- The composition of the board is as follows:
Category | Names |
Independent Director | Mr. Khurshid Abul Khair |
Mr. Abu Khursheed Muhammad Ariff | |
Non-Executive Directors | Mr.Christopher John Aitken Andrew |
Mrs. Farhat Ali | |
Composition of the Board of Directors and Board sub-committees is disclosed in the corporate information section of the report.
Non-Executive Directors are paid a reasonable and appropriate remuneration for attending the Board and/or its committees' meetings. This remuneration is not at a level that could be perceived to compromise independence. No fee is paid to the directors who do not attend a meeting. Similarly, fee is not paid for the proposals considered through circulation.
Financial Performance
Your company during six months of the financial year 2022-23 has reported after-tax profit of Rs.15.100 million as compared to Rs.50.209 million during corresponding period last year. The profit in current year is due to significant cash recoveries. Henceforth, the net-worth of your company has increased from Rs. 530.279 million to Rs. 579.213 million. The earning per share is 0.102 for the period under review.
Acknowledgement
On behalf of First Dawood Investment Bank Ltd., we would like to express our gratitude to the worthy shareholders of the Bank for their support, State Bank of Pakistan, Securities and Exchange Commission and other regulatory bodies for their guidance and cooperation We would especially like to recognize hard-work and dedication of our employees who in these testing times and adverse conditions have performed to the best of their abilities with utmost commitment, and look forward to their continued support.
We wish to pray for health & safety of all mankind against the prevailing pandemic, which continues to introduce new waves.
For and on behalf of the Board of Directors.
______________ | |
Chief | Director |
February 20, 2023
Karachi.
03
FIRST DAWOOD INVESTMENT BANK LIMITED
2022 31
03
Category | Names |
Independent Director | Mr. Khurshid Abul Khair |
Mr. Abu Khursheed Muhammad Ariff | |
Non-Executive Directors | Mr.Christopher John Aitken Andrew |
Mrs. Farhat Ali | |
15.10 | 2022 | 31 | |
579.213 | 530.279 | 50.209 | |
0.102 |
February 20, 2023
04
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First Dawood Investment Bank Ltd. published this content on 24 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2023 10:16:08 UTC.