FINANCIAL STATEMENTS

30 SEPTEMBER 2022 (UN-AUDITED)

 UTTARA BANK LIMITED
CONSOLIDATED BALANCE SHEET (UN-AUDITED)
AS AT 30 SEPTEMBER 2022

Amount in Taka

PROPERTY AND ASSETS 30 September 2022 31 December 2021

Cash
Cash in Hand (including foreign currencies) 3,684,114,629 3,464,798,912
Balance with Bangladesh Bank and its
agent Bank(s) (including foreign currencies) 11,750,903,221 12,198,740,013
15,435,017,850 15,663,538,925
Balance with other Banks and
Financial institutions
In Bangladesh 2,337,303,624 4,126,970,433
Outside Bangladesh 1,202,811,965 1,451,768,736
3,540,115,589 5,578,739,169

Money at call on short notice 5,670,000,000 13,140,000,000

Investments
Government 42,455,749,639 33,962,863,614
Others 7,129,220,406 6,849,612,117
49,584,970,045 40,812,475,731

Loans and Advances

Loans, cash credits, overdrafts etc. 148,361,341,408 143,936,654,401
Bills purchased and discounted 2,436,856,252 3,366,022,776
150,798,197,660 147,302,677,177
Fixed assets including land, building,
furniture and fixtures 2,776,575,772 2,842,034,771
Other Assets 16,666,503,200 14,632,985,048
Non Banking Assets 61,714,025 61,714,024
TOTAL ASSETS 244,533,094,141 240,034,164,845

LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY

LIABILITIES
Borrowings from other Banks,
Financial Institutions and Agents 1,807,271,046 1,964,438,423

Deposits and other accounts

Current and other accounts 56,166,214,038 60,775,311,780
Bills payable 4,294,306,683 5,737,201,656
Savings bank deposits 65,571,546,490 62,625,543,264
Fixed deposits 62,540,861,239 59,486,848,266
Other deposits 6,545,170,192 5,939,980,796
195,118,098,642 194,564,885,762

Other Liabilities 27,915,842,891 24,966,682,460

TOTAL LIABILITIES 224,841,212,579 221,496,006,645

CAPITAL/SHAREHOLDERS' EQUITY
Paid up capital 6,437,390,630 5,646,833,890
Statutory reserve 5,860,000,000 5,860,000,000
Other reserves 5,029,006,612 5,008,235,733
Surplus in profit and loss account 2,365,446,824 2,023,051,397
19,691,844,066 18,538,121,020
Non controlling interest 37,496 37,180
TOTAL CAPITAL/SHAREHOLDERS' EQUITY 19,691,881,562 18,538,158,200
TOTAL LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY 244,533,094,141 240,034,164,845

Page 1
 UTTARA BANK LIMITED
CONSOLIDATED BALANCE SHEET (UN-AUDITED)
AS AT 30 SEPTEMBER 2022

Amount in Taka
Notes
30 September 2022 31 December 2021
OFF BALANCE SHEET ITEMS
Contingent Liabilities
Acceptances & Endorsements 7,908,411,401 8,716,367,261
Letters of guarantee 6,194,058,470 4,922,265,758
Irrevocable letters of credit 12,174,723,508 20,914,188,640
Bills for collection 8,302,049,057 7,437,616,976
34,579,242,436 41,990,438,635

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 34,579,242,436 41,990,438,635
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)

24 October 2022 Director Director

UTTARA BANK LIMITED

CONSOLIDATED PROFIT AND LOSS ACCOUNT
Page 2
 UTTARA BANK LIMITED
CONSOLIDATED PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

Particulars 01 January to 01 January to 01 July to 01 July to

Notes 30 September 30 September 30 September 30 September
2022 2021 2022 2021
Taka Taka Taka Taka
OPERATING INCOME
Interest Income 9,423,632,889 8,315,610,957 3,176,921,638 2,797,776,031
Interest paid on deposits and borrowings etc. 4,431,636,808 4,435,740,718 1,511,264,824 1,437,452,638
Net Interest Income 4,991,996,081 3,879,870,239 1,665,656,814 1,360,323,393
Investment Income 2,555,063,272 2,455,093,985 991,239,641 787,651,216
Commission, Exchange and Brokerage 1,566,284,062 946,534,698 746,026,450 338,483,017
Other Operating Income 561,424,366 447,491,206 70,627,866 78,333,443
Total operating income 9,674,767,781 7,728,990,128 3,473,550,771 2,564,791,069
OPERATING EXPENSES
Salary and allowances 3,419,589,202 3,050,145,319 1,207,486,076 983,684,802
Rent, taxes, insurance, electricity etc. 393,813,852 354,600,540 128,307,285 117,032,138
Legal expenses 28,154,161 13,482,857 12,668,157 2,208,106
Postage, stamp, telecommunication etc. 59,622,946 57,350,705 21,509,111 15,449,522
Stationery, printing, advertisements etc. 94,351,426 74,354,208 22,690,614 16,076,397
Managing Director's salary & allowances 13,712,182 12,556,529 4,718,395 4,289,450
Directors' fees 2,954,000 3,040,000 549,000 808,000
Auditors' fees 646,000 615,000 28,750 -
Charges on loan losses - - - -
Repair, maintenance and depreciation
of Bank's property 251,629,973 259,139,740 95,455,525 89,386,077
Other expenses 583,170,151 500,723,900 202,643,969 121,185,208
Total operating expenses 4,847,643,893 4,326,008,798 1,696,056,882 1,350,119,700

Profit before provision 4,827,123,888 3,402,981,330 1,777,493,889 1,214,671,369

Provision
Provision for loans & advances 4.2 1,007,500,000 734,000,000 602,500,000 223,000,000
Recover of provision for diminution in value of investments 55,000,000 (54,499,951) 55,000,000 (54,499,951)
Provision for others 5,000,000 - 5,000,000 -
1,067,500,000 679,500,049 662,500,000 168,500,049
Profit before tax 3,759,623,888 2,723,481,281 1,114,993,889 1,046,171,320
Provision for Taxation 4.3
Current tax 1,867,457,350 1,096,667,777 672,605,265 429,415,107
Deferred tax (31,342,690) (2,724,912) (13,713,612) 675,542
1,836,114,660 1,093,942,865 658,891,653 430,090,649
Profit after taxation 1,923,509,228 1,629,538,416 456,102,236 616,080,671
Non controlling interest 316 10,999 (2,276) 10,436
Profit after taxation without non controlling interest 1,923,508,912 1,629,527,417 456,104,512 616,070,235
Retained earning brought forward 441,937,912 257,346,828 441,937,912 257,346,828
Profit available for appropriations 2,365,446,824 1,886,874,245 898,042,424 873,417,063
Appropriations
Statutory reserve - - - -
General reserve - - - -
- - - -
Retained surplus 2,365,446,824 1,886,874,245 898,042,424 873,417,063
Earnings Per Share (EPS) 4.5 2.99 2.53 0.71 0.96
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)

24 October 2022 Director Director

Page 3
 UTTARA BANK LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

(Amount in Taka)
Paid up Statutory Other Retained Non Controlling
Particulars Total
Capital Reserve Reserves Earnings Interest
Balance as at 01 January 2022 5,646,833,890 5,860,000,000 5,008,235,733 2,023,051,397 37,180 18,538,158,200
Transfer to General Reserve - - - - - -
Cash Dividend - - - (790,556,745) - (790,556,745)
Stock Dividend 790,556,740 (790,556,740) - -
Adjustment for UB Capital and Investment Ltd. - - -
Adjustment of Dividend Payable - -
Transfer from Asset Revaluation Reserve - - -
Restated opening balance 6,437,390,630 5,860,000,000 5,008,235,733 441,937,912 37,180 17,747,601,455
Surplus/(deficit) of Revaluation Reserve on Govt.
- - 20,770,879 - - 20,770,879
Securities
Transfer to Deferred Tax Liability for Asset
- - - - -
Revaluation
Transfer to Fixed Asset for Asset Revaluation - -

Page 4
Net profit after Tax - - - 1,923,509,228 - 1,923,509,228
Non Controlling Interest - - - (316) 316 -
Appropriations during the year
Transfer to Statutory Reserve - - - - - -
Transfer to General Reserve - - - - - -
Transfer to Start-up Fund - - - - - -
Balance as at 30 September 2022 6,437,390,630 5,860,000,000 5,029,006,612 2,365,446,824 37,496 19,691,881,562
Balance as at 30 September 2021 5,646,833,890 5,419,407,900 5,532,684,216 1,886,874,245 40,650 18,485,840,901
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)

24 October 2022 Director Director
 UTTARA BANK LIMITED
CONSOLIDATED CASH FLOW STATEMENT (UN-AUDITED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

Amount in Taka
Notes
01 January to 01 January to
30 September 2022 30 September 2021
A. Cash flows from operating activities
Interest receipts in cash 11,603,070,302 10,656,233,864
Interest payments (3,724,118,043) (3,772,009,710)
Dividend receipts 132,782,815 120,583,377
Fees and commission receipts in cash 2,245,389,997 980,835,553
Recoveries on loans previously written off - -
Cash payments to employees (3,456,706,047) (3,170,661,674)
Cash payments to suppliers (641,806,456) (593,924,056)
Income tax paid (1,273,382,709) (1,427,389,111)
Receipts from other operating activities 562,386,241 454,424,973
Payments for other operating activities (584,585,881) (476,413,089)
Operating cash flow before changes in operating 4,863,030,219 2,771,680,127
assets and liabilities
Increase/(decrease) in operating assets and liabilities
Purchase/sale of trading securities (10,320,602,012) (20,202,427,805)
Loans and advances to customers (3,495,520,483) (1,385,431,120)
Other assets (518,254,275) (1,753,156,347)
Deposits from other Banks - -
Deposits from customers (154,305,885) 8,272,916,911
Other liabilities (115,361,867) 1,287,187,296
(14,604,044,522) (13,780,911,065)
Net cash received from/(used in) operating activities (9,741,014,303) (11,009,230,938)
B. Cash flows from investing activities
Proceeds from sale/payments for purchase of securities 1,547,681,098 (2,222,926,419)
Purchase of property, plants and equipments (100,478,620) (74,243,810)
Sale of property, plants and equipments - -
Net cash received from/(used in) investing activities 1,447,202,478 (2,297,170,229)
C. Cash flows from financing activities
Dividend paid (764,653,495) (1,080,197,047)
Net cash received from/(used in) financing activities (764,653,495) (1,080,197,047)
D. Net Increase/ (decrease) in cash and cash equivalents (A+B+C) (9,058,465,320) (14,386,598,214)
E. Effects of exchange rate changes on cash and cash equivalents (679,105,935) (34,300,855)
F. Opening cash and cash equivalents 34,391,801,894 42,039,835,796
G. Closing cash and cash equivalents (D+E+F) 24,654,230,639 27,618,936,727
Closing Cash and cash equivalents
Cash in hand (including foreign currencies ) 3,684,114,629 3,506,569,683
Bal. with Bangladesh Bank & its agent Banks (including foreign currencies)11,750,903,221 10,237,728,597
Balance with other banks and financial institutions 3,540,115,589 6,345,540,847
Money at call 5,670,000,000 7,520,000,000
Prize Bond 9,097,200 9,097,600
24,654,230,639 27,618,936,727
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)

24 October 2022 Director Director

Page 5
 UTTARA BANK LIMITED
BALANCE SHEET (UN-AUDITED)
AS AT 30 SEPTEMBER 2022
Amount in Taka
Notes
30 September 2022 31 December 2021
PROPERTY AND ASSETS
Cash .
Cash in Hand (including foreign currencies) 3,684,062,855 3,464,758,390
Balance with Bangladesh Bank and its
agent Bank(s) (including foreign currencies) 11,750,903,221 12,198,740,013
15,434,966,076 15,663,498,403
Balance with other Banks and
Financial institutions
In Bangladesh 2,230,259,665 4,039,171,585
Outside Bangladesh 1,202,811,965 1,451,768,736
3,433,071,630 5,490,940,321

Money at call on short notice 5,670,000,000 13,140,000,000

Investments
Government 42,455,749,639 33,962,863,614
Others 5,355,906,403 5,616,774,969
47,811,656,042 39,579,638,583
Loans and Advances
Loans, cash credits, overdrafts etc. 151,010,696,965 145,619,159,365
Bills purchased and discounted 2,436,856,252 3,366,022,776
153,447,553,217 148,985,182,141
Fixed assets including land, building,
furniture and fixtures 2,772,230,833 2,837,022,740
Other Assets 15,470,992,223 13,870,190,125
Non Banking Assets 61,714,025 61,714,024
TOTAL ASSETS 244,102,184,046 239,628,186,337
LIABILITIES AND CAPITAL/SHAREHOLDERS' EQUITY
LIABILITIES
Borrowings from other Banks,
Financial institutions and Agents 1,807,271,046 1,964,438,423

Deposits and other accounts

Current and other accounts 56,184,156,500 60,783,575,598
Bills payable 4,294,306,683 5,737,201,656
Savings bank deposits 65,571,546,490 62,625,543,264
Fixed deposits 62,540,861,239 59,486,848,266
Other deposits 6,545,170,192 5,939,980,796
195,136,041,104 194,573,149,580

Other Liabilities 27,591,943,356 24,672,120,389

TOTAL LIABILITIES 224,535,255,506 221,209,708,392
CAPITAL/SHAREHOLDERS' EQUITY
Paid up capital 6,437,390,630 5,646,833,890
Statutory reserve 5,860,000,000 5,860,000,000
Other reserves 5,029,006,612 5,008,235,733
Surplus in profit and loss account 2,240,531,298 1,903,408,322
TOTAL CAPITAL/SHAREHOLDERS' EQUITY 4.00 19,566,928,540 18,418,477,945
TOTAL LIABILITIES AND CAPITAL/SHARE HOLDERS' EQUITY 244,102,184,046 239,628,186,337

Page 6
 UTTARA BANK LIMITED
BALANCE SHEET (UN-AUDITED)
AS AT 30 SEPTEMBER 2022

Amount in Taka
Notes
30 September 2022 31 December 2021

OFF BALANCE SHEET ITEMS

Contingent Liabilities
Acceptances & Endorsements 7,908,411,401 8,716,367,261
Letters of guarantee 6,194,058,470 4,922,265,758
Irrevocable letters of credit 12,174,723,508 20,914,188,640
Bills for collection 8,302,049,057 7,437,616,976
34,579,242,436 41,990,438,635

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 34,579,242,436 41,990,438,635
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)

24 October 2022 Director Director

UTTARA
Page 7BANK LIMITED
 UTTARA BANK LIMITED
PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

Particulars 01 January to 01 January to 01 July to 01 July to

Notes 30 September 30 September 30 September 30 September
2022 2021 2022 2021
Taka Taka Taka Taka
OPERATING INCOME
Interest Income 9,432,477,148 8,335,738,261 3,186,738,514 2,803,699,963
Interest paid on deposits and borrowings etc. 4,431,687,420 4,438,595,904 1,511,303,560 1,438,880,722
Net Interest Income 5,000,789,728 3,897,142,357 1,675,434,954 1,364,819,241
Investment Income 2,505,035,428 2,270,293,451 964,528,755 670,416,569
Commission, Exchange and Brokerage 1,494,264,481 886,065,184 728,558,604 306,905,867
Other Operating Income 562,378,846 448,068,370 70,855,651 78,534,363
Total Operating Income 9,562,468,483 7,501,569,362 3,439,377,964 2,420,676,040
OPERATING EXPENSES
Salary and allowances 3,410,335,432 3,044,061,227 1,203,555,214 981,897,466
Rent, taxes, insurance, electricity etc. 393,813,852 354,314,788 128,307,285 116,873,034
Legal expenses 28,154,161 13,482,857 12,668,157 2,208,106
Postage, stamp, telecommunication etc. 59,434,414 57,142,020 21,447,189 15,349,844
Stationery, printing, advertisements etc. 94,185,769 74,240,618 22,595,456 16,000,053
Managing Director's salary & allowances 13,712,182 12,556,529 4,718,395 4,289,450
Directors' fees 2,816,000 3,040,000 480,000 808,000
Auditors' fees 600,000 600,000 - -
Charges on loan losses - - - -
Repair, maintenance and depreciation
of Bank's property 250,622,505 258,374,165 95,094,539 88,976,720
Other expenses 571,327,490 491,888,819 200,076,210 116,624,075
Total Operating Expenses 4,825,001,805 4,309,701,023 1,688,942,445 1,343,026,748

Profit before Provision 4,737,466,678 3,191,868,339 1,750,435,519 1,077,649,292

Provision
Provision for loans & advances 4.2 1,007,500,000 734,000,000 602,500,000 223,000,000
Provision for others 5,000,000 - 5,000,000 -
1,012,500,000 734,000,000 607,500,000 223,000,000
Profit before tax 3,724,966,678 2,457,868,339 1,142,935,519 854,649,292
Provision for Taxation 4.3
Current tax 1,837,752,436 1,066,325,304 662,507,229 411,835,241
Deferred tax (31,022,219) (2,502,264) (13,606,839) 677,216
1,806,730,217 1,063,823,040 648,900,390 412,512,457
Profit after taxation 1,918,236,461 1,394,045,299 494,035,129 442,136,835
Retained earning brought forward 322,294,837 315,366,084 322,294,837 315,366,084
Profit available for appropriation 2,240,531,298 1,709,411,383 816,329,966 757,502,919
Appropriations
Statutory reserve - - - -
General reserve - - - -
- - - -
Retained surplus 2,240,531,298 1,709,411,383 816,329,966 757,502,919
Earnings Per Share (EPS) 4.5 2.98 2.17 0.77 0.69
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)

24 October 2022 Director Director

Page 8
 UTTARA BANK LIMITED
STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
(Amount in Taka)
Paid up Statutory Other Retained
Particulars Total
Capital Reserve Reserves Earnings
Balance as at 01 January 2022 5,646,833,890 5,860,000,000 5,008,235,733 1,903,408,322 18,418,477,945
Transfer to General Reserve - - - - -
Cash Dividend - - - (790,556,745) (790,556,745)
Stock Dividend 790,556,740 (790,556,740) -
Adjustment of Dividend Payable - -
Transfer from Asset Revaluation Reserve - - -
Restated opening balance 6,437,390,630 5,860,000,000 5,008,235,733 322,294,837 17,627,921,200
Surplus/(deficit) of Revaluation Reserve on Govt. Securities - - 20,770,879 - 20,770,879
Transfer to Deferred Tax Liability for Asset Revaluation - - - - -
Transfer to Fixed Asset for Asset Revaluation - -

Page 9
Net profit after Tax - - - 1,918,236,461 1,918,236,461
Appropriations during the year
Transfer to Statutory Reserve - - - - -
Transfer to General Reserve - - - - -
Transfer to Start-up Fund - - - - -
Balance as at 30 September 2022 6,437,390,630 5,860,000,000 5,029,006,612 2,240,531,298 19,566,928,540
Balance as at 30 September 2021 5,646,833,890 5,419,407,900 5,532,684,216 1,709,411,383 18,308,337,389
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)

24 October 2022 Director Director
 UTTARA BANK LIMITED
CASH FLOW STATEMENT (UN-AUDITED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
Amount in Taka
Notes
01 January to 01 January to
30 September 2022 30 September 2021
A. Cash flows from operating activities
Interest receipts in cash 11,592,849,266 10,501,000,100
Interest payments (3,724,168,655) (3,773,520,378)
Dividend receipts 101,820,266 108,380,494
Fees and commission receipts in cash 2,173,370,416 920,366,039
Recoveries on loans previously written off - -
Cash payments to employees (3,447,452,277) (3,164,577,582)
Cash payments to suppliers (641,267,711) (592,975,540)
Income tax paid (1,240,032,378) (1,408,197,364)
Receipts from other operating activities 562,378,846 448,068,370
Payments for other operating activities (572,130,255) (468,801,478)
Operating cash flow before changes in operating 4,805,367,518 2,569,742,661
assets and liabilities
Increase/(decrease) in operating assets and liabilities
Purchase/sale of trading securities (9,780,125,157) (19,592,456,936)
Loans and advances to customers (4,462,371,076) (2,575,784,369)
Other assets (117,926,677) (950,416,697)
Deposits from other banks - -
Deposits from customers (144,627,241) 8,233,937,073
Other liabilities (60,743,853) 1,089,326,569
(14,565,794,004) (13,795,394,360)
Net cash received from/(used in) operating activities 4.8 (9,760,426,486) (11,225,651,699)
B. Cash flows from investing activities
Proceeds from sale/payments for purchase of securities 1,547,681,098 (2,222,926,419)
Purchase/Sale of property, plants and equipments (100,322,800) (72,996,379)
Sale of property, plants and equipments - -
Net cash received from/(used in) investing activities 1,447,358,298 (2,295,922,798)
C. Cash flows from financing activities
Dividend paid (764,653,495) (1,080,197,047)
Net cash received from/(used in) financing activities (764,653,495) (1,080,197,047)
D. Net Increase/(decrease) in cash and cash equivalents (A+B+C) (9,077,721,683) (14,601,771,544)
E. Effects of exchange rate changes on cash and cash equivalents (679,105,935) (34,300,855)
F. Opening cash and cash equivalents 34,303,962,524 41,958,050,270
G. Closing cash and cash equivalents (D+E+F) 24,547,134,906 27,321,977,871
Closing cash and cash equivalents
Cash in hand (including foreign currencies ) 3,684,062,855 3,506,424,901
Bal. with Bangladesh Bank & its agent Bank(s) (including foreign currencies) 11,750,903,221 10,237,728,597
Balance with other banks and financial institutions 3,433,071,630 6,048,726,773
Money at call 5,670,000,000 7,520,000,000
Prize Bond 9,097,200 9,097,600
24,547,134,906 27,321,977,871

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)

24 October 2022 Director Director

Page 10
 Selected explanatory notes to the Financial Statements
as at and for the period ended 30 September 2022

1.0 Legal status and Nature of the Bank

Uttara Bank Limited (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 converted Uttara Bank Limited 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 Limited and Chittagong Stock Exchange Limited as a publicly listed company for trading of
its shares. The
Registered Office of the Bank is located at 47, Shahid Bir Uttam Asfaqus Samad Sarak (Former 90,
Motijheel Commercial Area), Motijheel, Dhaka-1000.It has 245 branches, 20 sub-branches and 30 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 third quarter Financial Statements are same as those were applied on its last
annual Financial Statements of December 31, 2021. Consolidated Financial Statements include the
position of Uttara Bank Limited 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) 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 ordinance, 1984 and amendment thereon;
6. The Value Added Tax Act, 1991 and amendment thereon;
7. Dhaka Stock Exchange Limited (DSE), Chittagong Stock Exchange Limited (CSE) and Central
Depository Rules and Regulations and
8. Financial Reporting Act 2015.
In case of any reqirement 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
4.0 Shareholders' Equity - Solo
Amount in Taka
Particulars
30 September 2022 30 September 2021

Paid up capital (Number of Ordinary shares 643,739,063 for 30

September 2022 & 564,683,389 for 30 September 2021 @ Tk. 10 6,437,390,630 5,646,833,890
each)
Statutory reserve 5,860,000,000 5,419,407,900
General reserve 3,355,633,339 3,355,633,339
Fixed assets revaluation reserve 1,455,576,933 1,828,690,679
Investment revaluation reserve 153,369,340 283,933,198
Dividend equalisation reserve 64,427,000 64,427,000
Retained earnings 2,240,531,298 1,709,411,383
19,566,928,540 18,308,337,389

4.1 Operating profit (Solo)

Bank's operating profit for the third quarter (Q3) ended 30 September 2022 increased by
Tk.1,545,598,339 compared to its previous corresponding quarter ended 30 September 2021 mainly due
to increase of interest income, investment income, commission, exchange and brokerage, other operating
income 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. 273,500,000 for the third quarter (Q3) ended 30 September
2022 compared to the previous corresponding third quarter (Q3) ended 30 September 2021 mainly due to
increase of non performing loans & advances.

4.3 Provision for taxation (Solo)

Provision for income tax has been shown @37.50%, as prescribed in finance act, 2022 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 September 2022 stands at
Tk.1,837,752,436 and Tk.(31,022,219) respectively.

Deferred Tax (Asset)

Amount in Taka
Particulars
30 September 2022 30 September 2021
Carrying Value of depreciable fixed assets 1,029,841,851 1,105,111,681
Tax base value 1,104,367,736 1,097,621,095
Net taxable temporary difference -liability (74,525,885) 7,490,586
Tax Rate 37.50% 37.50%
Closing Deferred Tax Liability/Assets (27,947,207) 2,808,970
Opening Deferred Tax Liability/Assets (3,075,012) 5,311,234
Deferred Tax Expense / (income) for the period ended 30
(31,022,219) (2,502,264)
September 2022

4.4 Net profit after taxation (Solo)

Net profit after taxation for the third quarter (Q3) ended 30 September 2022 increased by Tk.
524,191,162 compared to its previous corresponding quarter ended 30 September 2021 mainly due to
increase of interest income, investment income, commission, exchange and brokerage, other operating
income etc.

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

01 January to 01 January to
01 July to 30 01 July to 30
30 September 30 September
September 2022 September 2021
2022 2021

Net profit after taxation -

Solo (Taka) 1,918,236,461 1,394,045,299 494,035,129 442,136,835
Net profit after taxation -
Consolidated (Taka) 1,923,509,228 1,629,538,416 456,102,236 616,080,671

Number of shares
outstanding 643,739,063 643,739,063 643,739,063 643,739,063
Earnings Per Share (EPS) calculation
Earnings Per Share (EPS) -
Solo (Taka) 2.98 2.17 0.77 0.69

Earnings Per Share (EPS) -

2.99 2.53 0.71 0.96
Consolidated (Taka)
*Earnings Per Share (EPS) increased due to increase of interest income, investment income,
commission, exchange and brokerage, other operating income etc. over the same period of last year.

4.6 Net Asset Value (NAV) per share*

30 September 2022 30 September 2021
Net Asset Value (NAV) - Solo (Taka) 19,566,928,540 18,308,337,389
Net Asset Value (NAV) Consolidated (Taka) 19,691,881,562 18,485,840,901

Number of Shares outstanding 643,739,063 643,739,063

Net Asset Value (NAV) calculation
Net Asset Value (NAV) per share - Solo (Taka) 30.40 28.44
Net Asset Value (NAV) per share - Consolidated (Taka) 30.59 28.72
* 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 September 2022 30 September 2021
Net Operating Cash Flow (NOCFPS) - Solo
(Taka) (9,760,426,486) (11,225,651,699)

Net Operating Cash Flow (NOCFPS) -

Consolidated (Taka) (9,741,014,303) (11,009,230,938)

Number of Shares outstanding 643,739,063 643,739,063

Net Operating Cash Flow calculation
Net Operating Cash Flow Per Share
(15.16) (17.44)
(NOCFPS) - Solo (Taka)
Net Operating Cash Flow Per Share
(15.13) (17.10)
(NOCFPS) - Consolidated (Taka)

* Net Operating Cash Flow Per Share (NOCFPS) inecreased in the current period mainly due to
increase of interest receipt in cash, fees and commission receipt in cash, receipts from other operating
activities and decrease of income tax paid, purchase/sale of trading securities and other assets etc.
compared to the previous corresponding period.

Page 13
4.8 Reconciliation of statement of cash flows from operating activities (Solo)
30 September 2022 30 September 2021

Profit after taxation 1,918,236,461 1,394,045,299

Adjustment of non cash and non operating items
Depreciation 165,114,707 163,696,643
Provision (Tax) 1,806,730,217 1,063,823,040
Provision (loan and others) 1,012,500,000 734,000,000
Effects on Exchange Loss on Foreign Currency 679,105,935 34,300,855
Decrease in Bonus Paybale (23,404,663) (107,959,826)
Income taxes paid (1,240,032,378) (1,408,197,364)
Decrease in interest receivable (242,843,044) 3,348,882
Increase in interest payable 707,518,765 665,075,526
Increase in total Expenditure payable (8,325,878) (12,600,592)
Increase in other payable 30,767,396 40,210,198
2,887,131,057 1,175,697,362
Changes in operating assets and liabilties
Changes in loans and advances (4,462,371,076) (2,575,784,369)
Changes in Deposit and other accounts (144,627,241) 8,233,937,073
Changes in investments /Purchase/sale of trading securities (9,780,125,157) (19,592,456,936)
Changes in other assets (117,926,677) (950,416,697)
Changes in other liabilities (60,743,853) 1,089,326,569
(14,565,794,004) (13,795,394,360)
Net Cash Received From Operating Activities (9,760,426,486) (11,225,651,699)

4.9 Unclaimed Dividend Account

As per Bangladesh Securities and Exchange Commission letter No. BSEC/SRMIC/2021-198/254 dated
19.10.2021 the "Unclaimed Dividend Account" of the Bank is as under.
30 September
2022

Particular Amount in Tk.

Dividend Payable-2018 27,246,158
Dividend Payable-2019 10,931,584
Dividend Payable-2020 21,613,239
Dividend Payable-2021 26,273,505
Total 86,064,486

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 29 June 2022 based on the audited financial statements of 31
December 2021 and the following rating was awarded:

Credit Rating Report (Surveillance) on Uttara Bank Limited rated by ECRL based on 31.12.2021.

Particulars Long Term Short Term

AA (Very strong capacity and very ST-2 (High Grade)
Based on 31.12.2020
high quality)
AA (Very strong capacity and very ST-2 (High Grade)
Based on 31.12.2021
high quality)
Date of Rating 29/06/2022
Validity of Rating 30/06/2023
Outlook Stable

Page 14
 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 third quarter un-audited Financial Statements

The third quarter (Q3) un-audited Financial Statements as at and for the period ended on 30 September
2022 were approved by the Board of Directors of the Bank in it's 772nd Board of Directors' meeting held
on 24th October 2022.

(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)

24 October 2022 Director Director

Page 15