vision mission€¦ · organizational chart the founder of gb and next grameen bank : 2014...

ANNUAL REPORT 2014

mission

vision

By providing comprehensive financial services, empowering the poor to realize their potential and break out of the vicious cycle of poverty.

Banking for the poor

AnnuAl report 2014 1

CO

NT

EN

TS Foreword

Board of Directorsorganizational Chartthe founder of GB and next Grameen Bank : 2014HighlightsZones’ locationloan ActivitiesVillage phoneHigher education loansStruggling [Beggars] Members programmeGB Scholarship programme for Members’ ChildrenForeign visitors to Grameen Bank Disbursement of loans listed under broad categories of business activitiestop 25 items in order of loan amounts for which member took loansDisbursement of Microenterprise loans listed under broad categories of business activitiestop 25 items in order of Microenterprise loan amounts for which member took loansZonewise Comparative Statement up to December 31, 2014Grameen Bank Year end update : December, 2014past Five years of Grameen BankComparative Consolidated Statement For the Years 2013 & 2014Grameen Bank Historical Data Series : 1976-2014 (in million BDt)Grameen Bank Historical Data Series : 1976-2014 (in million uSD)Computerization programmeeventsAuditors’ report and Audited Financial Statements

246891416182022242628 30

31

32 33 34 353640 42 44

464853

New premises for GB’s Zonal Officeat Rajshahi

2 Grameen Bank AnnuAl RepoRt 2014

As we complete 31 yeArs of our operAtion we look BAck with

sAtisfAction the indeliBle footprints left By the GrAmeen

BAnk in its trAil for empowerinG millions of nAmeless poor

of BAnGlAdesh And even those Beyond its Border. since

its humBle BeGinninG in 1984 essentiAlly As A micro-credit

institution, the BAnk hAs seen its trAnsformAtion into A

mAmmoth orGAnizAtion with multiple AGendA focussinG

on improvinG the mAteriAl As well As Aesthetic Aspects of

poor people’s lives.

Apart from enlargement of the scope of operation to newer fields of activities and formulation of a new look operational strategy, the Bank has also seen change of guards at the higher management level. What have not changed, however, are our commitment to improve the quality of lives of the poor and to carry forward the legacy of innovations and hard work to sustain the momentum of growth.

the Bank continues to grow at an admirable pace in 2014 when we added one more branch to its network. the Bank’s 2,568 branches now serve over 81,000 villages constituting close to 97% of the country’s landscape. Following our success to spread the branch network almost throughout the country we have now shifted the gears from horizontal expansion to strengthening the existing outlets to serve the Bank’s borrowers speedily and efficiently.

About 100,000 new members joined Grameen Bank in 2014 swelling the aggregate number of members to a staggering 8.64 million. Women continue to remain in the forefront to carry forward the Bank’s mission for empowerment of the poor. During the year 2014 their ratio grew further to 96.26% from 96.19% of 2013.

Grameen Bank’s major area of activities, namely credit operation, continued to flourish and reached new heights with every passing year. During the year, the Bank disbursed loans and advances totalling BDt 133.32 billion (uSD 1.71 billion) under different categories reflecting an increase of 14% over the amount disbursed in 2013. the cumulative amount of disbursement since the inception of the Bank snowballed to a staggering BDt 1,080.96 billion (uSD 16.37 billion) by the end of 2014.

the Bank opened a new window for the enterprising borrowers who succeeded in crossing over the poverty line. By the end of 2014, the Bank had lent BDt 209.49 billion (USD 2.85 billion) to about 6.21 million borrowers. It reflects substantial acceleration of disbursement of micro-enterprise loans in 2014 compared to 2013 when BDt 175.12 billion (uSD 2.41 billion) was lent to 5.36 million borrowers. the Bank draws satisfaction that many of its borrowers have become successful entrepreneurs and created job opportunities for a large number of people.

A house is said to be a man’s castle that serves as a starting point from which they can pursue their day to day activities. The GB has given financial support to fulfil this all important needs of its members. During the year under review the Bank disbursed

FOrEwOrd

the Bank continues to grow at an admirable pace in 2014 when we added one more branch to its network. the Bank’s 2,568 branches now serve over 81,000 villages constituting close to 97% of the country’s landscape. Following our success to spread the branch network almost throughout the country we have now shifted the gears from horizontal expansion to strengthening the existing outlets to serve the Bank’s borrowers speedily and efficiently.


A.S.M. Mohiuddin (1st from left) Acting Managing Director of Grameen Bank received the ICMAB (Institute of Cost and Management Accountants of Bangladesh) award from Hon. Finance Minister A M A Muhith at a ceremony at Pan Pacific Sonargaon Hotel in Dhaka.

BDt 22.80 million (uSD 0.29 million) as housing loans to 1,391 new applicants. the aggregate amount of the Bank’s housing loans reached a new high of BDt 9,103 million (USD 117.08 million) and benefitted 696,789 borrowers-members.

GB carried its mission of empowering the poor to new level by introducing an innovative programme addressed to the most vulnerable group in the social structure—the beggars. under the scheme, known as ‘Struggling Members programme’, interest free loans amounting to BDt 173.68 million (uSD 2.57 million) have so far been provided to 109,000 borrowers. It would certainly sounds ironical that in a country where nonperforming loans in the mainstream financial sector pose a constant threat to the economy, the beggars repaid 84% of their loans in 2014. It is also reassuring that 16,329 beggars have left begging and are making a living mainly as peddlers. 9,029 beggars have joined Grameen Bank groups as main-stream borrowers.

education is key to enlightenment and empowerment. realising this importance, Grameen Bank has chalked out multi-tiered programmes to assist the GB members to educate their children. The first one is the scholarship programme under which financial support is given to the children of Grameen members for payment of school dues, purchase of books and stationery at the school level. the number of awardees in this category in 2014 was 25,500 children. By the end of 2014 total 241,035 children benefitted from this scheme since the inception of the programme. Grameen Bank’s outlay under the programme amounted to BDt 399.29 million (uSD 5.15 million).

the second one is the Higher education loan programme introduced in 1997 for the talented children of the Bank’s borrowers to pursue higher education at the graduate (with honours) and postgraduate levels. By the end of the year under review 53,175 students pursuing courses in various disciplines were provided loans under this programme.

GB has recently taken a further step to assist the children of its borrowers to pursue a 3-year Diploma in nursing and Midwifery in the international standard Grameen Caledonian College of nursing. By the end of 2014 total 127 students successfully completed the course. Some of them have secured good jobs while others have joined advanced courses at home and abroad.

Before concluding, I would like to take this opportunity to express my gratitude to the Board of Directors for the support and guidance to run the affairs of the Bank. I once again congratulate the staff of the Bank and borrowers-shareholders for their unstinted support to turn the Bank into a vehicle for freeing the poor from the poverty trap to which they are tied for ages.

A.s.m. mohiuddinActing Managing DirectorGrameen Bankemail : [email protected]


bOard OF dirECTOrS

Prof. MuzaMMel HuqChairman Grameen Bank, Head officeMirpur-2, Dhaka-1216

A.S.M. MOHIUDDINActing Managing DirectorGrameen Bank, Head officeMirpur-2, Dhaka-1216

MS. Suraiya BeguM NDCSecretary, Statistics and Informatics Division, Ministry of Planning, Parishankhyan Bhaban, Agargaon, Dhaka-1207

M. Shah alaM SarwarManaging Director & CEOIFIC Bank Ltd.BDBL Bhaban, 8 Rajuk Avenue, Dhaka

Ms. sajedaBorrower MemberMirsarai BranchChittagong

Ms Rehena aktaRBorrower MemberVarrala Burichong BranchComilla

Ms. sultanaBorrower MemberFulbari Golapganj BranchSylhet


Ms. Tahsina KhaTun Borrower MemberDapunia Mymensingh Branch Mymensingh

Mos. saleha KhatunBorrower MemberBason Gazipur BranchGazipur

Mos. Parul BeguMBorrower MemberNosrotpur Chirir Bandar BranchDinajpur

Ms. MarinaBorrower MemberAlangi Dhunot BranchBogra

Mos. shahida BeguMBorrower MemberHalatala Kalarua BranchJessore

Ms. MoMela BeguMBorrower MemberMuradia Patuakhali BranchPatuakhali


OrgaNizaTiONal CharT

Top Executives of Grameen Bank


BOARD OF DIRECTORS

MANAGINGDIRECTOR

Deputy Managing Director

General ManagerGeneral Manager

DeputyGeneral Manager








AuditDept.

ServicesDept.

EstablishmentDept.

General Manager


InternationalProgramme

Dept.

Md’sSecretariat

GBSecretariat

AdministrationDept.

Co-ordination& OperationDept (West)

Training

Technology & Development Section

SpecialProgramme

ConstructionSection

General Manager




Co-ordination& OperationDept(East)

Monitoring & Evaluation

Dept.

Accounts& Finance

Dept.

Planning Section

General Manager


ThE FOuNdEr OF gb aNd NExT

Ms. NurjahaN BeguMActing Managing DirectorDuration : 12 May 2011- 14 Aug 2011

Mr. M shahjahaNActing Managing DirectorDuration : 14 Aug 2011 - 30 Oct 2014

a.s.M. MOhIuDDINActing Managing DirectorDuration : 30 Oct 2014 - till now

PrOfessOr MuhaMMaD YuNus (Nobel Laureate)Founder Managing DirectorDuration : Starting from -11 May 2011


Grameen Bank continues to enlarge its outreachGrameen Bank continued its onward march to reach new milestones in terms of the number of its members and the area it covers. 96,248 new members joined the Grameen family in 2014 bringing the total enrolment to 8.64 million. More than half of the countries of the world have a population smaller than the number of GB members. With 40 zonal, 266 area and 2568 branch level offices, Banks network now encompasses 81,390 over 93.16% of the country’s nearly 87,362 villages spread across length and breadth of the country.

Service at the Door Steps of the poorInstead of the poor coming to the bank Grameen Bank carries its services to the comfort zones of their door steps. It explains why the Bank’s members consist largely of women who normally shy away from the glare of a conventional banks with branches located away from where the poor live. All banking transactions except loan disbursements are done in the meetings of the borrowers at the village level centres organized by the Bank’s centre manager. New branches are required to fund themselves entirely with the deposits they mobilize. No fund from head office or any other office is lent to them. A new branch is expected to break even in the first year of its operation.

Interest Rates are based on repayment capacityThe interest rates of the Bank are structured with an eye on the financial status and repayment capacity of the borrowers. It does not subscribe to the conventional wisdom of loading the cost of funds for calculating interest rates for lending to the ultra-poor. On the basis of this principle the interest rates on loans for the 4 categories of Grameen Bank borrowers are as follows:

Loan Category Interest Rate per annum

Loans for Income Generating Activities (IGA) 20% Housing Loans 8% Higher Education Loansi. During the study period of about 3 - 5 years 0%ii. After the study period 5%Struggling Members (beggars) Loans 0%

Grameen Bank calculates interest rates on declining balance method to ease the debt repayment burdens of the borrowers. For instance, for an income-generating loan of say, BDT 1,000, the borrower repays the entire amount within a year by weekly installments; the total amount repayable works out BDT 1,100 (principal amount BDT 1,000+ interest BDT 100) equivalent to 10% at the flat rate. Grameen Bank offers very attractive interest rates for deposits. Minimum interest offered is 8.5 per cent. Maximum rate is 12 per cent.

Loans and DepositsThe aggregate amount of disbursement of loans by the Bank by the end of December, 2014 reached BDT 1080.96 billion. The present cumulative disbursement is equivalent to USD 16.37 billion at the exchange rate that prevailed at the end of the year. The cumulative amount of savings deposited with the Bank by its members reached about BDT 105.79 billion by the end of year under review.

Financial Results for 2014The Bank does not work for profit alone as demonstrated by the zero or subsidized interest rates for the disadvantaged segments of the people. Nevertheless, the Bank continues to achieve significant growth in terms of operating and net profits. During the year the Bank earned a profit of BDT 436 million and declared 30% cash dividend for the year. The bank has also created a Dividend Equalization Fund to serve as a cushion against adverse situation weighing down on the bank’s profit due to natural or manmade calamities. It ensures a fair degree of stability in the rates of dividends payable to the shareholders over the years. It serves as an incentive for the shareholders to sustain their enthusiasm to carry forward GB’s goals to empower the poor. Payment of attractive dividends serves as inspiration for shareholders to relentlessly work toward sustaining the momentum that has been a hallmark of GB’s performance year after year. What is more significant is that the Bank’s borrowers are its shareholders along with the government.

The Grameen Generalized SystemThis system was introduced in 2000 to overcome the financial constraints of the borrowers to tide over the bad days that seriously impair their capacity to repay their bank

graMEEN baNK: 2014


loans. The system is simple and customer friendly that provides a leeway to the member to remain in the Bank’s mainstream rather than opting out of Bank. The Grameen has four important windows for lending money--basic loan, housing loan, higher education loan and struggling members (beggars) loan programme. A basic loan is converted into a flexible loan or reschedule loan, if the borrower finds it difficult to pay the weekly installments. Flexible loan reduces the installment size to a tolerable level. At the end of 2014, nearly 9 per cent of the borrowers were on flexible loans. Flexible loan is not an independent loan. It is only a temporary detour from the basic loan. The borrower tries his or her best to go back to the basic loan. If a borrower fails to repay the basic loan and is unwilling to go into flexible loan, s/he is reckoned as a defaulter. In that event, 100 per cent provision is made against his/her outstanding dues. If a Flexible loan is not paid back in two years it is considered as overdue; after three years, it is entirely written off. The rate of recovery of Basic Loan is close to one hundred per cent.

Housing for the poorA shelter over the head, food and clothing are the three most important needs of the mankind. Realizing the importance the shelter, GB introduced housing loan programme in 1984 to enable its borrowers to build a modest shelter over their heads. The ownership of a house infuses people with a sense of pride, security and self-respect that, in turn, provides a stepping stone to achieve economic prosperity and improved social status. The ceiling for a housing loan is BDT 25,000 for construction of a simple tin-roof house. The average size of the loan is BDT 13,063 (USD 169) per borrower. The interest rate is 8 percent per annum, repayable over a period of five years. During 2014, housing loans amounting to BDT 22.80 million (USD 0.29 million) were provided to build 1,391 houses. It brings the total number of houses built with the housing loans to 696,789 since inception.

Scholarships for the children of Grameen membersGrameen Bank offers scholarships to the children of Grameen members to ease their financial constraints for payment of school dues, purchase of books and stationery. At least 50% of the scholarship money must go to the girls and the remaining 50% to both boys and girls based on

overall performance. About 25,500 children, at various levels of school education, were awarded the scholarships during the year under review. It brings the aggregate number students since the inception of the programme to 241,035 up to December, 2014, involving an amount of BDT 399.29 million (USD 5.15 million).

Higher Education LoansGrameen Bank did not want to leave children of the members at the lurch after finishing the school level study. So it introduced the Higher Education Loan programme in 1997 to open opportunities for talented children of its borrowers to pursue higher education in medicine, engineering, agriculture and other higher education programmes at the graduate (with honours) and postgraduate levels. The loans are intended to cover all expenses incurred by the students from the beginning to the end of the study period. The loans cover admission fees, course fees, cost of stationery, food and accommodation and other related expenses. By the end of the year under review 53,175 students pursuing courses in disciplines were provided loans under this programme.

Nursing Education loans for the female children of Grameen Bank borrowersTo assist the children of Grameen Bank borrowers to secure jobs at home and abroad it lends money for study in a 3-year Diploma in Nursing and Midwifery in the international standard Grameen Caledonian College of Nursing. 224 students have enrolled for this course. 127 students have already successfully completed the course. Of them 71 have secured jobs in different hospitals and clinics, 4 have gone for higher training in Glasgow Caledonian University, Scotland while 10 students have enrolled in B.Sc. level courses in nursing in Bangladesh.

Micro-enterprise LoansGrameen Bank has steered many poor to cross over the poverty line. The Bank continues to stand by them to help them reach even higher echelons of prosperity. The Bank provides larger loans, called micro-enterprise loans, to these fast moving members. There is no restriction on the

graMEEN baNK: 2014


loan size. So far 6,210,574

members availed of the micro-enterprise

loans. A total of BDT 209.49 billion (USD 2,848.86

million) has been disbursed under this category of loans. Average

loan size is BDT 33,726 (USD 435). The maximum size of a single loan taken so far is

BDT 4.0 million (USD 51,606) for fish feed, poultry feed, fish cultivation and fish business. The other major categories of activities financed are grocery shops, pharmacy, dairy farms, auto-rickshaw for transportation and stone business for construction. This programme has initiated a silent revolution in rural Bangladesh by encouraging leadership and entrepreneurial qualities and self-employment opportunities.

Loan InsuranceUnder this programme, all outstanding loans are paid off from the insurance fund in the event of death of a borrower. Insurance fund is created with interest generated through a savings account created by deposits of the borrowers on annual basis. Borrowers are required to put amount equal to 3.0 per cent of the loan amount in a designated savings account each time a loan is taken. If the borrower’s loan amount does not exceed the amount in the previous year, s/ he does not have to add any more money into this account. If it exceeds, then she pays 3.0 per cent of the incremental loan amount. Balance of deposits under loan insurance programme stood at BDT 8,764.91 million (USD 113.08 million) as on December 31, 2014. Up to that date, outstanding loans and interest amounting to BDT 3734.50 million (USD 51.26 million) due from 336,131 deceased borrowers was paid off under this programme.

Life InsuranceEach year families of deceased borrowers of Grameen Bank are paid amounts ranging from BDT 14 to 16 million (USD 0.17 to 0.21 million) as life insurance benefits. Each family receives BDT 1,500 which the deceased was a Grameen Bank borrower. A total of 166,944 GB borrowers died by the end of 2014. Their families collectively received a total amount BDT 285.98 million (USD 5.30 million). Borrowers are not required to pay any premium for this life insurance. Borrowers come under this insurance coverage by being a shareholder of the bank.

Village PhonesGrameen Bank provided loans to 1,428,902 borrowers up to 2014 to buy mobile phones and offer telecommunication services in nearly half of the villages of Bangladesh .It is also generating revenue for GrameenPhone, the largest telephone company in the country. Village phones use 2.22 per cent of the air-time of the company, while their number is only 1.89 per cent of the total of telephone subscribers of the company.

Beggars as MembersBeggars are the hardest to reach under the conventional


poverty alleviation programme. To capture this elusive group Grameen Bank contrived an innovating scheme in 2002 called Struggling Members Programme. Over 109,000 beggars have joined the programme. Total amount disbursed stands today at BDT 173.68 million. Of this amount of BDT 145.91 million (84% of the amount disbursed) has already been repaid. GB is happy to note that 16,329 beggars have left begging and are making a living as door-to-door sales persons. Among them, 9,029 beggars have joined Grameen Bank groups as mainstream borrowers.

Success of Members in Election of Local BodiesGrameen system provides a flavour of election process to the borrowers of the Bank. They routinely go through electing group chairman, secretaries, centre-chiefs and deputy centre-chiefs every year. They elect board members for running Grameen Bank every three years. This experience provides them a launching pad to run for public offices with a fair degree of success. In 2003 local government (Union Porishad) election 7,442 Grameen members contested for the reserve seats for women. Of the 3,059 members came out successful.

Policy for Opening New BranchesNew branches are required to finance themselves entirely with the deposits they mobilize. No fund from head office or any other office is lent to them. A new branch is expected to break-even within the first year of its operation.

Computerized MIS and Accounting SystemAccounting and information management nearly all the branches (2,568 out of 2,568) have been computerized. These has freed the branch staff from the routine paper work and devote more time to administer the loan portfolio and supervise the borrowers and use of loan funds. Branch staffs are provided with pre-printed repayment amount of dues for each weekly meeting. If every borrower pays according to the repayment schedule, the staff has nothing to write on the document except for putting the signature. Only the deviations are recorded. Paper work is done only at centre level to enter figures in the borrowers’ passbooks.

‘Stars’ for Achievements Grameen Bank provides colour coded stars to branches and staffs for 100 per cent achievement of a specific task starting from 2001. A branch or a staff having five stars indicates the highest level of performance. At the end of 2014, 492 branches got green stars for maintaining 100 per cent repayment record, 1,855 received blue star for earning profit, 2,264 branches earned violet stars by meeting all their financing out of their earned income and deposits, 347 branches have applied for brown stars for ensuring education for 100% children of Grameen families and 57 branches applied for red stars indicating branches those have succeeded in taking all its borrowers families over the poverty line. The stars are confirmed only after the verification procedure is completed.

graMEEN baNK: 2014


Grameen Bank’s Cumulative disbursment

of loans since inception crosses the threshold of

ONE TrilliON TaKa


highlighTS

NuMBer Of MeMBers

2014 8,640,225

2013 8,543,977

2012 8,373,893

NuMBer Of ceNtres

2014 142,613

2013 143,057

2012 143,061

NuMBer Of BraNches

2014 2,568

2013 2,567

2012 2,567

PerceNtage Of wOMeN MeMBers

2014 96.26

2013 96.21

2012 96.19

NuMBer Of vIllages cOvereD

2014 81,390

2013 81,389

2012 81,386

NuMBer Of areas

2014 266

2013 266

2012 266


NuMBer Of zONes

2014 40

2013 40

2012 40

BalaNce Of DePOsIts (MeMBers) (IN MIllION BDt)

2014 105,791

2013 92,134

2012 79,162

aMOuNt DIsBurseD DurINg the Year (IN MIllION BDt)

2014 133,321

2013 126,026

2012 118,609

aMOuNt Of lOaNs OutstaNDINg (IN MIllION BDt)

2014 87,495

2013 84,385

2012 80,321

cuMulatIve aMOuNt DIsBurseD sINce INcePtION (IN MIllION BDt)

2014 1,080,956

2013 947,635

2012 821,609

BalaNce Of DePOsIts (NON- MeMBers) (IN MIllION BDt)

2014 64,002

2013 56,219

2012 51,945


zONE’S lOCaTiONS


CHAPAI NAWAB-GANJ

NARAYONGANJ

ChittagongTangail RangpurManikganjPatuakhaliBograSylhetRajshahiDinajpurFaridpurComillaMymensinghNarayonganjKhulnaNoakhaliJamalpurNilphamariHobiganjPabnaBarisalJhenaidahCox’s bazarGaibandhaNoagaonJessoreChandpurKishoreganjBholaRangamatiGazipurMadaripurThakurgaonPirojpurSunamganjFeniNarsingdiKurigramNetrokonaSirajganjSherpur


lOaN aCTiviTiES


the concept of Village phone is an idea which caught people’s imagination. Grameen Bank members have entered the age of information technology by leasing and purchasing cellular phones. the mobile phones not only create a new business opportunity for the poor, but also bring access to information, market, health and other services to the remote rural areas of Bangladesh. this was a major innovation; placing modern cell phones in the hand of the woman from poorest households in remote villages, something that no telecom operator had dared to do in the past.

With Grameen Bank financing a Grameen Bank borrower buys a mobile phone to become the Telephone Lady of the village. She provides the telecommunication services to the village while earning profits for herself. By the end of 2014, there were about 1.43 million village phone ladies who have together taken loans amounting to BDt 2.71 billion.

the demand of the Village phone services is increasing day by day. During the year 2014 nearly 145,438 new phones were distributed. Grameen Bank, in collaboration with Grameen Telecom (The company which was incorporated as a not-for-profit venture under the companies act of 1994) has made a plan to finance nearly 215,000 new phones to its members during the next year. The additional income by selling telephone service and internet based facility through electronic recharge system (erS, eDGe,/GprS) of village phone ladies is almost double that of the national per capita income. Zone-wise statistics of village phones financed through the Bank’s lending programme are given in the following page.

villagE PhONE


progress of village phones up to december, 2014

Sl No Zone No of branches covered

No of Village Phone owned by Bank members

1 Chittagong 72 15,791 2 tangail 78 38,312 3 rangpur 59 13,267 4 Manikganj 62 19,571 5 patuakhali 87 34,519 6 Bogra 74 68,083 7 Sylhet 70 25,145 8 rajshahi 88 139,371 9 Dinajpur 63 35,799

10 Faridpur 88 110,110 11 Comilla 76 34,804 12 Mymensingh 55 44,801 13 narayonganj 62 18,525 14 Khulna 69 36,890 15 noakhali 78 33,502 16 Jamalpur 56 46,700 17 nilphamari 61 41,990 18 Hobiganj 59 13,722 19 pabna 61 73,012 20 Barisal 80 28,641 21 Jhenaidah 74 23,111 22 Cox’s bazar 59 8,118 23 Gaibandha 55 29,138 24 noagaon 77 136,908 25 Jessore 80 38,327 26 Chandpur 54 19,564 27 Kishoreganj 71 27,131 28 Bhola 52 11,780 29 rangamati 44 17,241 30 Gazipur 49 26,564 31 Madaripur 67 50,490 32 thakurgaon 72 27,641 33 pirojpur 61 9,220 34 Sunamganj 58 19,313 35 Feni 48 13,397 36 narsingdi 39 16,435 37 Kurigram 48 6,430 38 netrokona 55 11,094 39 Sirajganj 46 40,887 40 Sherpur 61 23,558

total 2,568 1,428,902

flexiloAd proGrAmme

Flexiload program started from April 2006 in tangail and Comilla zone as a roSA (retailer outlet sales agent) pilot project. the agreement between Grameen Bank (GB) and Grameenphone (Gp) was to sell handset, accessories and bulk airtime in rural areas through GB members.

the programme is still now successfully going on. Finally, the agreement was set up on november 06, 2006 to expand the programme in other zones. In this programme, Grameenphone is the principal or host and and Grameen Bank acts reload distributor functioning perfectly through a master SIM card. Selected GB members are the sales agents who get load from logistics management team of Grameenphone under GB channel. GB agents transfer their load as per end users demand.

It is continuous process. GB’s commission is 0.90% and sales agent’s commission is 2.70% respectively. up to December 31, 2014 GB creates 1,000 sales agents in 40 zones. the total transaction averagely reaches at the end of the year in BDt 1731.69 million.

Grameen Bank and agents jointly received commissions amounting BDt 62.34 million. now every week Grameen Bank agents are transacting BDt 1.00 million. Grameen Bank plan is to make 2,000 Grameen Bank agents very soon. We hope this program will develop and reinforce strategies, which will bring high economic benefits to Grameen Bank members.


the higher education loan programme was introduced in 1997 for the children of Grameen families so that they can pursue education at the highest level. Since its inception, the programme has distributed 53,175 loans worth BDt 3452.43 million (uSD 48.22 million). In 2014 alone, 536 students were sanctioned loans. Jessore zone has the most number of students (4,155) receiving higher education loans, with Khulna zone second (4,083). the Dudsar Sailkupa branch under Jhenaidah zone has given the highest number of higher education loans (169).

disbursement of higher education loans up to december, 2014.

Degree/Discipline Number Amount (BDT)

Masters (General) 2,504 126,655,743Bachelor degree (Honours) 47,107 3,106,073,595MBA 149 7,366,675BBA 657 39,278,845B. Sc. (engineering) 1,145 60,328,895M. Sc. (Agriculture) 140 6,734,460B. Sc. (Agriculture) 643 30,894,368Degree in Medicine 830 75,097,730total : 53,175 3452430311

0.28 % MBA 1.24 % BBA 2.15 % B. Sc. (Engineering) 0.26 % M. Sc. (Agriculture) 1.21 % B. Sc. (Agriculture) 1.56 % Degree in Medicine 4.71 % Masters (General) 88.59 % Bachelor degree (Honours)

0.21 % MBA 1.14 % BBA 1.75 % B. Sc. (Engineering) 0.20 % M. Sc. (Agriculture) 0.89 % B. Sc. (Agriculture) 2.18 % Degree in Medicine 3.67 % Masters (General) 89.97 % Bachelor degree (Honours)

Percentage of Number which student tooks loan

Percentage of loan amount which student tooks loan

GB’S loAnS For HIGHer eDuCAtIon AnD poultrY FArM SpelleD SuCCeSS For hAfizurGrameen Bank helped Hafizur, the son of a veteran borrower of the Bank, with a loan for pursuing higher education followed by credit input to set up a flourishing poultry farm. His mother, Rahima Begum, like most of the Bank’s borrowers, come from an impoverished family headed by her husband, a lowly security guard in a gas company in Barisal.

rahima Begum joined as a member of GB way back in 1986. She started off with a loan of BDt 1,500. After a prolonged struggle against heavy odds and adversities luck has finally smiled on her. She now enjoys a loan facility of BDt 50,000. GB also provided her eldest son, Hafizur, with a higher education loan of BDt 100,000 which saw him through his Bachelor degree in social science with Honours. the couple’s other son works in a mobile phone servicing firm.

While still a student, Hafizur set up a poultry farm on a small scale. He wanted to expand the farm but did not have a clue about the source on which he could draw on. It was when Grameen Bank stepped in to lend him BDt 50,000 on May 28, 2013 under its loan programme for new entrepreneurs. He paid off the loan within one year by weekly instalment of BDt 1,250. He again drew a higher

amount of BDt 80,000 with provision for repayment in weekly instalment of BDt 2,000. He repaid this loan too by March 2, 2015.

Hafizur’s burgeoning poultry farm now boasts of 750 hens. On the average they lay about 700 eggs a day. the income from the sale of eggs works out to nearly BDt 29,400 per week. After meeting the expenses amounting to about BDt 2,000 on account of poultry feed, upkeep, medicine and the wages of a helping hand the farm earns close to BDt 8,400 per week.

The poultry farm has spelled success for Hafizur and transformed him into a confident entrepreneur. Sweet chirpings of the chickens not only fill his ears and heart with joy but serve as inspiration to reach a still higher plateau of success. To fulfil his dream his next plan is to draw a bigger loan of BDT 100,000 from the Grameen Bank.

highEr EduCaTiON lOaNS

NAmE Hafizur Rahman

mOThER Rahima Begum

BRANch Hemnagar Gopalpur

ZONE Tangail


Credit programme for

Self-employment of the recipients of

Higher education loans

t he programme is aimed at changing the age old perception of the unemployed youth about jobs being their only ‘aim of life’, and turn their attention to the virtue of self- employment. this programme, it is hoped, will contribute to reduction of poverty through use of local raw materials and appropriate technology for promotion of

agro-based industries.

the Bank has set a detailed guideline for the programme. the students may avail of the facility either singly or jointly for investment in any productive sector. no ceiling has been fixed for the loan amount but the borrower’s capacity will be taken into account to determine the loan amount. The sectors for which financial support are provided include small business, nursery, cow and goat rearing, poultry, small clinics and health centers, phone shops etc.

Grameen Bank has introduced a special Credit program for Self-employment of the recipients of the bank’s higher education loans, who have either completed or still pursuing their education. The objective is to provide the enterprising and hard working students financial support to create a band of new entrepreneurs. the philosophical basis of the program is to imbue them with the slogan “We wouldn’t beg others for jobs, we’ll create jobs for others”.

KHorSHeDA BeGum AnD Her StorY oF rAGS to rICHeSKhorsheda Begum typifies numerous poor people who, with the assistance of the Grameen Bank, threw off the shackles of poverty and successfully marched towards prosperity. Born in 1983 in an ultraconservative Muslim family Khorsheda Begum passed the SSC examination in 2001 with flying colours and went on to enrol in the college in the HSC class. However, as is the wont in a conservative family, she was married off in 2002 to a young man named Abdul Hamid before she could finish her education.

While the seven siblings of her husband were gainfully employed, Abdul Hamid was out of work. naturally the family looked down on him with some amount of disdain. to add to their woes, a baby girl was born to them. the gathering darkness was about to close on them when they saw a light at the end of the tunnel-- the Grameen Bank and its programme for collateral free loans. She enrolled herself as a GB member on March 3, 2003. She promptly collected a loan of BDt 5,000 and engaged her husband to get into onion business on a small scale. the income from this business generated some savings after meeting the family expenses and servicing of the loan.

She drew the next trance of loan amounting to BDt 10,000 and bought a pedal driven van to supply onion to the four nearby markets. their income

increased fourfold. After two years she availed of another BDt 20,000 special investment loan in addition to the existing simple loan of BDt 20,000. With the investment loan she rented a sales and purchase centre in the taherpur market. the business flourished by leaps and bounds, so to say. They started to draw increasingly higher amount of loans and began to supply onion to Dhaka and other important locations. Her outstanding loan from the Grameen Bank now amount to BDt 750,000. Servicing of the does not pose any problem.

Her savings with the GB under different schemes now amount to over BDt 300,000. By now the value of her assets is estimated by her as close to BDt 10,000,000 equivalent to about uSD 129,000. Khorsheda Begum minces no words to express her profound gratitude to the Grameen Bank for steering her and her family from rags to riches. Grameen Bank, on its part, feels proud to be a part of her company on her journey for achieving the coveted title of a millionaire.

NAmE KHORSHeDA BeGuM

BRANch SRipuR BAGHMARA BRANcH

ZONE RAjSHAHi


to reach out to the beggars, Grameen Bank has taken up a special programme, called Struggling Members programme which started from July 2002. Begging is the last resort for survival for a poor person, unless he/she turns towards crime or other forms of illegal activities. Among the beggars, there are disabled, blind, and retarded people, as well as old people with ill health.

The objective of the programme is to provide financial services to the beggars to help them find a dignified livelihood, send their children to school and to make them graduate into becoming regular Grameen Bank members. We wish to make sure that no one in the Grameen Bank villages has to beg for survival.

B A s i c f e At u r e s o f t h e p r o G r A m m e A r e :

existing rules of Grameen Bank do not apply to beggar members; they make up their own rules.

All loans will be interest-free. loans can be of a very long term, in order to make repayment instalments very small. For example, for a loan to buy a quilt or a mosquito-net, many borrowers are paying BDt 2.00 (3.4 cents uS) per week.

Beggar members are covered under life insurance and loan insurance programmes without incurring any cost.

Groups and Centres are being encouraged to become patrons of this type of members.

each member receives an identity badge with her picture and name, and Grameen Bank logo. She can display this as she goes about her daily life, to let everybody know that she is a Grameen Bank member and this national institution stands behind her.

Members are not required to give up begging, but are encouraged to take up an additional income-generating activity like selling popular consumer items door to door, or at the place of begging.

As of 31st December, 2014 cumulative members under this programme reaches at 109,000 out of them 106,000 are women. By this time 2,568 branches of Grameen Bank have implemented the programme. So far BDt 173.68 million has been disbursed and BDt 145.91 million has already been repaid. the Struggle members’ saving balance stood BDt 9.52 million.

STruggliNg (bEggarS) MEMbErS PrOgraMME


Grameen Bank helped

mafizOl Hoque tO thrOw Out his BeGGinG BOwl

Mohammad Mafizol Hoque was born in an impoverished family in Sherpur. His father was a day labourer. True to the dictum that poverty and puberty go together he went on to father as many as nine children. Mafizol was the eldest one. As usual in poor families, children are made to work at a very early age. So did Mafizol who, as a result, did not get any opportunity to go to school. Life goes on nevertheless for the poor and rich alike. When he attained adulthood Mafizol was married to one Karful Begum. Soon thereafter his father passed away. So did his mother a few years later. In the meantime his family began to grow spatially with addition of four new mouths—2 daughters and 2 sons. He could send his 2 sons to school who read up to class IV and class iii but could not afford schooling for the daughters. Mafizol found it increasingly difficult to meet the expenses of his family. He found no alternative than to start begging. The family somehow maintained its hand to mouth existence with the meagre income that Mafizol could eke out from begging. After spending long ten years in this profession he joined Grameen Bank as what the Bank calls ‘Struggling Member’. Grameen Bank provides interest free loans to this group with easy repayment obligations. He collected a loan of BDT 500 from the Grameen Bank and used it to deal in revenue stamps to GB borrowers during load disbursement. The modest income from this business helped him to maintain his family. So far he has borrowed money from the Grameen Bank on seven occasions. he has also taken a normal simple loan of Bdt 4,000 and services his repayment instalments on regular basis. The revenue stamp business generates earnings which not only sustain the family but created the opportunity to save around BDT 2,000 per month. He has bought a small piece of land and built a tin roofed house. By now he has married off his two sons and two daughters. Grameen Bank’s assistance has not only helped Mafizol Hoque to erase the stigma of beggar he carried for long ten years but also unfolded a new meaning of life for him.

STRUGGLING mEmBERS NAmE

MAFiZOl HOque

FAThER lATe TANi SuTAR

BRANch NAmE KuRiKAHNiA SRiBORDi BRANcH

ZONE SHeRpuR


In order to facilitate better educational opportunities for the children of Grameen members, Grameen Bank launched a scholarship programme for talented students, in 1999.

to encourage schooling of Grameen children, Grameen Bank introduced scholarship programme, so that, children from the poor families stay in school, and complete in both academic and extracurricular activities. priority is given to girls. In Bangladesh education for girls is generally considered not as important as for boys. even today, the general attitude of the society is such that

women are supposed to take back seats and confine themselves in the role of a housewife after marriage.

At least 50% of the scholarship money must go to girls and the remaining 50% will be given to both boys & girls based on overall performance.

Scholarships are given annually. up to December, 2014 scholarships to the extent of BDt 399.29 million (uSD 5.15 million) were offered to 241,035 students.

Scho

lars

hip

: 199

9-20

14 Categoriesnumber

totalGirls Boys

primary 13,850 20,003 33,853

Junior Secondary 20,241 30,066 50,307

Secondary 35,722 42,080 77,802

Higher Secondary 29,439 35,358 64,797

Cultural 4,410 9,866 14,276

total: 103,662 137,373 241,035

Bipasha Parvina reciPient of GB’s scHolarsHiP, entHrals tHe audience witH Her sweet voice

Bipasha parvin, the daughter of a Grameen Bank member, Ms Salma Begum has made a mark as a popular vocal artist in the country’s cultural arena. She has already earned laurels and medals in the competitions held at the local and national levels. Her achievements include her participation in the music competition named ‘khude Ganbaj’ organised by Channel Iin 2012; she secured 20th position at the national level. In the nationwide children competition held in 2015 he came out on top at the upazila level for her rendition in bhawaia, patriotic and classical songs. In the same year she won the top spot for rendering bhawaia song at the rangpur Divisional level in the nationwide children competition.

Bipasha, the youngest of the five siblings, comes from a poor family. Her father is a carpenter. the meagre income he earns is too small to maintain a large family. She grew up in abject penury but not lost her passion for music. She learnt music from various maestros at home and abroad (Kolkata, India). She now studies in class VIII in tapurpur B.G. High School.

Grameen Bank spotted her talent in music and came forward with scholarship under the cultural category in 2015 to hone

her skill to reach a still higher level of skill. Grameen Bank feels profound satisfaction for its role to stand by the budding artists who will, hope fully, enrich the cultural heritage of the country.

NAmE MOST. BipASHA pARveeNmOThER’S NAmE MOST. SAlMA BeGuMBRANch NAmE DADvANGA ROuMARi BRANcHZONE KuRiGRAM

gb SChOlarShiP PrOgraMMEFOr MEMbEr’S ChildrEN


Higher Education ScholarshipNew Window of Opportunity at International level

(A ) KhAZANAh ASIA SchOLARShIPS

In addition to scholarships arranged for education of children of GB members for study at different levels in the educational institutions at home, GB has opened new window of opportunities for the children of Grameen family to pursue higher education, with full scholarships, in the following prestigious universities at home and abroad.

Khazanah Foundation, Malaysia awards 87 scholarships every year in 4 categories for students from all parts of the world. A new scholarship programme known as ‘the Khazanah Asia Scholarship’ has been instituted to award 25 scholarships to students of Asia for 3 to 4 year course in different categories at the graduate/ undergraduate level with the object of creating leadership in the field of industry and commerce. the Foundation has decided to award 5 scholarships every year under this programme, beginning from 2009, for the children of GB members.

The following students were selected from Bangladesh under the programme for undergraduate courses

for 2009 sessionsl no name of student name of the member name of GB branch/zone Subject of Study Name of University

1 nazia Hossain Ms Shamsunahar narail, Jessore Bio technology engineering International Islamic university, Malaysia2 Ms Ayesha Khatun Ms Delwara Begum Chandaikona, raiganj,Sirajganj Accounting & Finance Do3 Mohd Aslam Mia Ms. Jharna Begum Gabtoli, Bogra economics Do4 Kazi Selim Sarwar Begum Hosneara Kalupara, Badarganj, rangpur Mechanical engineering Multimedia university, Malaysia5 Ms Sabiha Akhter Munni Ms Sufia Jasmin Ishwarganj, Kishorganj electrical and electronic eng tenaga national university, Malaysia

for 2010 session1 Md Jahid Faruki Foujia Sultana Kakina Kaliganj, rangpur Bachelor Degree in electrical & electronics eng. tenaga national university, Malaysia 2 Md. Badiul Alam Nafija Begum Kalipur Bashkhali, Cox’s Bazar Bachelor Degree in civil eng. Do3 Md. tauhidul Islam Fatema Akter porshurampur, Feni Bachelor Degree in law International Islamic university, Malaysia 4 Md. tarikul Islam Badal Anwara Begum Ashujia Kendua, netrakona Bachelor Degree in civil eng. tenaga national university, Malaysia5 Munni Akter laboni Jharna Begum Anmaypur Shibaloy, Manikganj Bachelor Degree in Information technology Multimedia university, Malaysia

for 2011 session1 Mahfuja Kanon Mariom parul Akter Konabari Gazipur, Gazipur Bachelor Degree in electrical & electronics eng. tenaga national university, Malaysia2 Sifat Ara Sajuti Farha rupa tarundia Iswarganj, Kishorganj Bachelor Degree in electrical & electronics eng. tenaga national university, Malaysia3 Md. ruhul Kuddus rabbi Mos. rahima Begum Salonga ullapara, Sirajganj Bachelor Degree in economics And Management (Finance) International Islamic university, Malaysia 4 Md. Jahirul Alam China Begum Mirjapur Gopalganj, tangail Bachelor Degree in civil eng tenaga national university, Malaysia

for 2012 session1 Shariar Mohsin Sohan Kazi nasima Akter pubail Gazipur Bachelor Degree in electrical & electronics eng. tenaga national university, Malaysia

for 2013 session1 Shakil Sarkar Jahanara Begum Jinardi plash Bachelor Degree in law Multimedia university, Malaysia2 Jahidur rahman Shimul Sabina easmin Modhupur Bachelor of Computer Science (Hons) Software engineering tenaga national university, Malaysia

for 2014 session1 Injamul Haque Shabhon Mos. Momena Begum Jaria purbadhala, netrokona Computer Science & Information technology Multimedia university, Malaysia2 Mohammad tahmin Ahasan Sufia Begum noakhali Computer Science & Information technology Multimedia university, Malaysia3 Md. Ashaduzzaman Aonik Suhagi Kishoreganj Computer Science & Information technology Multimedia university, Malaysia

(B) ASIAN UNIvERSITy FOR WOmEN, chITTAGONG SchOLARShIPS

Asian university for Women is an ultra modern international standard residential university with a goal of preparing the women of different Asian countries to assume leadership in the society in an international environment. the university has responded positively to the request of professor, Mohammad Yunus to award 25 full scholarships to the children of GB members for study at the undergraduate level in different disciplines.

eight children of GB members are studying in the university from 2009-10 session, eight children from 2010-11 session, one children from 2011-12 session and two children from 2012-13 session with full scholarships. Applications of 10 students have been sent to the university for Selection for admission in the 2015-16 session. An amount of about BDt 700,000 (about uSD 1000) is spent per year per student on tuition, board, meals etc.


grameen bank’s reputation as a pioneer for alleviation of poverty through micro-credits regularly attracts streams of visitors from home and abroad to gain an insight into its recipe for success. Many of the visitors come here to learn the basic principles and modalities of its operation with a view to replicating grameen model in their own countries. The visitors consist mainly of policy makers in the government and other institutions, journalists, representatives of the think tanks, researchers from academia and internee students from universities and colleges as part of their academic curricula. grameen bank’s international Programme department play hosts to the visitors and assist them to fulfil their missions.

the largest group of overseas visitors consists of people wishing to learn the Grameen system through exposure to its underlying philosophical moorings and the Bank’s modality of operation. the second important category is students from various universities and colleges. they spend one to three months with the Grameen Bank to gain knowledge on the Bank as part of their curricula. the following is a list of programmes in which overseas visitors generally participate:

1. exposure visit2. Internship3. Basic training4. research 5. Grameen International Dialogue6. Media support, Documentary, journalists, writers etc.

The following chart shows the flow of foreign visitors of the Bank during the last 2 years;

ProgrammeNo. of vistors

2013 2014

exposure 756 1,003

Internee 283 295

Basic training 8 23

total 1,047 1,321 Alongside the foreign visitors, the universities in Bangladesh too are increasingly showing interest to send their students to learn about the philosophy and mode of operation of the Bank. During the period of 5 years-- from 2010 to 2014-- 6,332 visitors from 81 countries including Bangladesh visited the Grameen Bank. the following table shows the number of visitors from 10 leading and other countries:

0 200 400 600 800 1000 1200

2014

2013

Basic Training

Internee

Exposure

FOrEigN viSiTOrS TO graMEEN baNK

29.74 %Japan

12.67 %America

6.23%Bangladesh

23.65 %Others

5.34%China

5.01%Nepal

4.63%India

3.90%Germany

2.35%Spain

3.22%Italy 3.25%

Thailand


Sl no. Country no. of visitors1 Japan 18822 America 8023 Bangladesh 3944 China 3385 nepal 3176 India 2937 Germany 2478 thailand 2069 Italy 204

10 Spain 14911 others 1497

90% of the visitors from Japan which tops the list came for exposure to the Grameen system. It reflects their love for travel abroad and strong inclination to learn from the experiences of other countries on critical issues. on the other hand, 95% of the German and Italian visitors were students who came for internship with the Bank. the visitors from the neighbouring nepal comprised entirely of those who wanted to learn from the Bank’s experience on dispensation of small credits.

Visitors also came from such exotic and faraway countries as Albania, Burundi, Mauritania, tonga, Kazakhstan and our mountainous neighbour, Bhutan.

Outbound tourism country Japan also had their shares of visitors with 428 in 2014. Tourist based and one of the best microfinance practice country nepal also send their visitors with 125 in 2014. Some Asian country China with 131, neighbour country India 47 and Bangladeshi 138 visitors also join this programme.

A pie chart depicts the flow of visitors from different continents during the 5 year period

Earnings from the hospitality extended to overseas visitors

Although GB does not look upon foreign visitors as a source of income it collects small fees to cover its expenses for playing hosts to them. Despite the declining number of visitors in 2014, the Bank earned an amount of about BDt 3.16 million compared to BDt 2.67 million earned in the preceding year. Grameen Bank always remains prepared to share its experience in handling the critical issue of poverty that unfortunately still bedevil the lives of nameless millions of people of our planet.

Exposure visitors from Korea International Cooperation Agency (KOICA) of Korea

Foreign visitors to Grameen Bank

Processing & Manufacturing

Agriculture & Forestry

Livestock & Fisheries

Services

Trading

Peddling

Shopkeeping


diSburSEMENT OF lOaNS liSTEd uNdEr brOad CaTEgOriES OF buSiNESS aCTiviTiES

Disbursement of all types of loans during January to December, 2014 Amount in BDt

codeno. items

male female total

no. of loans Amount of loans no. of loans Amount of loans no. of loans Amount of loans

1 processing & Manufacturing 54,800 1,186,317,113 1,738,638 30,718,730,833 1,793,438 31,905,047,946

2 Agriculture & Forestry 54,197 1,062,375,926 2,103,872 34,362,900,350 2,158,069 35,425,276,276

3 livestock & Fisheries 42,594 908,408,882 1,292,652 21,509,350,269 1,335,246 22,417,759,151

4 Services 9,820 153,479,435 184,491 3,027,677,950 194,311 3,181,157,385

5 trading 30,405 711,172,458 1,251,154 23,062,674,302 1,281,559 23,773,846,760

6 peddling 677 19,384,506 38,794 673,252,551 39,471 692,637,057

7 Shopkeeping 15,426 494,996,034 664,602 15,406,026,521 680,028 15,901,022,555

total : 207,919 4,536,134,354 7,274,203 128,760,612,776 7,482,122 133,296,747,130

Number of loan Disbursement of all types of loans during January to December, 2014

loan amount in BDtDisbursement of all types of loans during January to December, 2014


For Male Amount (Order descending) For Female Amount (Order descending)(Amount in BDT) (Amount in BDT)

serial Activity Name male no male Amount serial Activity Name female no female Amount

1 Milch cow 19,537 435,500,739 1 Grocery shop 345,054 8,647,750,571 2 Bamboo works 19,380 403,457,056 2 Milch cow 499,741 8,579,644,609 3 rice/paddy trading 12,448 271,983,885 3 rice/paddy trading 461,525 7,959,528,840 4 Cow fattening 12,242 244,514,361 4 Bamboo works 354,112 7,689,463,205 5 Grocery shop 8,115 243,626,083 5 Cow fattening 447,551 6,917,350,813 6 paddy cultivation 12,367 212,088,633 6 paddy cultivation 438,523 6,909,699,222 7 land lease 8,955 195,382,887 7 Farming 293,410 4,880,569,565 8 paddy husking 11,513 192,667,014 8 land lease 245,535 4,718,631,073 9 Stationery shop 3,573 143,045,586 9 paddy husking 304,747 4,107,645,337

10 Bullock raising 5,173 108,445,124 10 Agriculture equipments making 246,369 3,724,642,049 11 Cloths trading 4,105 98,204,028 11 Cane works 137,006 3,162,394,880 12 plantation 3,583 85,557,347 12 plantation 202,208 3,148,197,101 13 Cane works 1,967 85,188,568 13 land cultivation 166,918 2,646,810,419 14 Vegetables trading 4,399 76,229,221 14 Miscellaneous business 126,058 2,594,307,712 15 Vegetables cultivation 4,300 73,190,598 15 Vegetables trading 142,383 2,565,154,033 16 pottery products 2,689 65,225,231 16 Vegetables cultivation 154,280 2,332,567,615 17 rabi crop cultivation 3,308 61,779,371 17 Stationery shop 102,051 2,169,979,888 18 Farming 3,058 61,272,880 18 Bullock raising 115,958 1,847,980,743 19 Biri making 2,405 56,499,625 19 Fish trading 94,820 1,750,265,387 20 Agriculture equipments making 3,425 56,497,352 20 pisciculture 83,837 1,719,891,712 21 land cultivation 3,069 54,653,044 21 Cloths trading 62,189 1,497,593,624 22 rickshaw purchase 2,729 54,184,162 22 Betelleaf cultivation 88,502 1,447,776,700 23 land preparation 2,114 52,979,564 23 pottery products 75,951 1,358,412,484 24 Miscellaneous business 2,187 52,028,168 24 puffed rice making 75,760 1,286,013,055 25 Higher education loan 4,783 44,747,227 25 rabi crop cultivation 82,921 1,276,198,880

TOP 25 iTEMS iN OrdEr OF lOaN aMOuNTS FOr whiCh MEMbEr TOOK lOaNS

Top 25 items in order of total loan amounts for which member took loans during January 2014 to December 2014

Processing & Manufacturing

Agriculture & Forestry

Livestock & Fisheries

Services

Trading

Peddling

Shopkeeping


diSburSEMENT OF MiCrOENTErPriSE lOaNS liSTEd uNdEr brOad CaTEgOriES OF buSiNESS aCTiviTiES

Disbursement Of Microenterprise Loans During January To December, 2014Amount in BDt

codeno. items

male female total

no. of loans Amount of loans no. of loans Amount of loans no. of loans Amount of loans

1 processing & Manufacturing 5,064 262,176,681 160,086 6,053,843,121 165,150 6,316,019,802

2 Agriculture & Forestry 2,849 142,066,978 206,634 6,106,403,005 209,483 6,248,469,983

3 livestock & Fisheries 4,381 142,963,681 185,033 5,346,840,565 189,414 5,489,804,246

4 Services 395 18,535,357 24,191 824,977,510 24,586 843,512,867

5 trading 3,697 175,963,492 201,475 7,268,808,246 205,172 7,444,771,738

6 peddling 81 5,955,745 7,669 264,029,451 7,750 269,985,196

7 Shopkeeping 4,136 239,210,996 174,620 7,502,494,958 178,756 7,741,705,954

total : 20,603 986,872,930 959,708 33,367,396,856 980,311 34,354,269,786

Number of loan Disbursement of all types of microenterprise loans during January to December, 2014

loan amount in BDtDisbursement of all types of microenterprise loans during January to December, 2014


For Male Amount (Order descending) For Female Amount (Order descending)(Amount in BDT) (Amount in BDT)

serial Activity Name male no male Amount serial Activity Name female no female Amount

1 Stationery shop 1,621 101,754,933 1 Grocery shop 95,598 4,498,358,497 2 Grocery shop 1,646 96,845,256 2 rice/paddy trading 54,594 2,007,495,281 3 Bamboo works 1,536 81,738,694 3 Milch cow 56,190 1,823,671,322 4 Cane works 1,314 71,654,960 4 Cow fattening 79,694 1,800,349,687 5 Milch cow 1,318 52,644,025 5 Bamboo works 38,079 1,750,504,671 6 Cow fattening 1,872 48,980,293 6 land lease 34,588 1,166,939,243 7 rice/paddy trading 834 37,350,825 7 Cane works 27,242 1,138,655,660 8 land lease 474 25,744,687 8 Stationery shop 25,776 1,068,562,969 9 paddy cultivation 437 20,605,134 9 paddy cultivation 44,787 1,010,200,841

10 Stationery goods trading 249 19,496,500 10 Miscellaneous business 21,877 900,610,391 11 paddy husking 601 19,127,000 11 pisciculture 18,746 690,768,317 12 pottery products 352 18,848,085 12 Vegetables trading 20,998 679,627,352 13 Cloths trading 405 17,989,914 13 Fish trading 17,922 630,783,862 14 Bullock raising 606 17,719,320 14 Cloths trading 13,209 566,535,571 15 Miscellaneous business 344 15,922,556 15 Cloths shop 12,556 502,017,704 16 Cloths shop 335 15,780,518 16 Farming 15,306 486,535,482 17 Shop trading 298 14,794,968 17 Vegetables cultivation 15,620 415,552,795 18 Boro-Irri cultivation 252 13,876,500 18 Medicine shop 11,244 411,761,685 19 land preparation 223 12,782,300 19 plantation 10,382 391,874,311 20 timber trading 136 10,801,990 20 Betelleaf cultivation 14,504 376,759,138 21 Vegetables trading 456 10,511,415 21 Bullock raising 11,053 369,605,344 22 Farming 165 9,351,350 22 potato cultivation 15,807 366,865,801 23 Medicine shop 161 9,322,729 23 land cultivation 11,373 352,405,229 24 poultry raising 193 8,923,490 24 Garden lease 7,061 334,402,114 25 Stationery shop 1,621 101,754,933 25 paddy husking 15,364 327,188,432

TOP 25 iTEMS iN OrdEr OF MiCrOENTErPriSE lOaN aMOuNTS FOr whiCh MEMbEr TOOK lOaNS

Top 25 items in order of total loan amounts for which member took loans during January 2014 to December 2014


zONEwiSE COMParaTivE STaTEMENT uP TO dECEMbEr 31, 2014

SL No ZoneAmount

Disbursed(in million BDT)

Outstanding MembersNo

of Branches

Outstanding perbranch

(In million BDT)

Outstanding perMember(In BDT)

Member per branchAmount in

million BDTZone

percentageNumbers

Zone percentage

Female percent-age

1 chittagong 44778.91 2734.04 3.12 174391 2.02 92.08 72 37.97 15678 2422

2 Tangail 46235.10 3134.22 3.58 299429 3.47 86.27 78 40.18 10467 3839

3 Rangpur 22577.83 2857.16 3.27 244795 2.83 90.55 59 48.43 11672 4149

4 Manikganj 46883.09 3105.98 3.55 246570 2.85 92.31 62 50.10 12597 3977

5 patuakhali 29617.09 2516.22 2.88 250613 2.90 89.33 87 28.92 10040 28816 Bogra 38526.67 3091.14 3.53 295054 3.41 94.44 74 41.77 10477 39877 Sylhet 19418.39 1347.69 1.54 202928 2.35 94.81 70 19.25 6641 2899

8 Rajshahi 47284.81 3901.22 4.46 306227 3.54 98.51 88 44.33 12740 3480

9 Dinajpur 23531.45 2144.55 2.45 274704 3.18 98.25 63 34.04 7807 4360

10 Faridpur 36276.39 3036.00 3.47 251975 2.92 99.34 88 34.50 12049 2863

11 comilla 52021.44 3440.97 3.93 280912 3.25 99.78 76 45.28 12249 3696

12 Mymensingh 20149.63 2265.91 2.59 207704 2.40 99.68 55 41.20 10909 3776

13 Narayonganj 58646.06 3528.55 4.03 234253 2.71 99.85 62 56.91 15063 3778

14 Khulna 23961.34 2032.53 2.32 218056 2.52 98.62 69 29.46 9321 3160

15 Noakhali 30714.27 2324.21 2.66 212504 2.46 99.74 78 29.80 10937 2724

16 jamalpur 19598.87 1978.15 2.26 261547 3.03 93.24 56 35.32 7563 4670

17 Nilphamari 16708.77 1283.90 1.47 277815 3.22 90.65 61 21.05 4621 4554

18 Habiganj 24041.97 2099.80 2.40 233248 2.70 98.64 59 35.59 9002 3953

19 pabna 34975.28 2957.54 3.38 236373 2.74 96.92 61 48.48 12512 3875

20 Barisal 34090.25 2549.72 2.91 215957 2.50 96.12 80 31.87 11807 2699

21 jhenaidah 31309.58 2593.90 2.96 267110 3.09 99.28 74 35.05 9711 3610

22 cox's Bazar 21308.91 1758.45 2.01 144848 1.68 92.91 59 29.80 12140 2455

23 Gaibandha 17374.39 1076.09 1.23 177056 2.05 92.73 55 19.57 6078 3219

24 Noagaon 27226.29 1952.98 2.23 235083 2.72 98.45 77 25.36 8308 3053

25 jessore 25097.80 2068.53 2.36 238187 2.76 98.65 80 25.86 8684 2977

26 chandpur 20198.76 1512.35 1.73 147554 1.71 99.80 54 28.01 10249 2732

27 Kishoreganj 18831.34 2341.50 2.68 254740 2.95 99.66 71 32.98 9192 3588

28 Bhola 12853.05 1431.97 1.64 105702 1.22 99.70 52 27.54 13547 2033

29 Rangamati 8989.33 843.00 0.96 69893 0.81 99.67 44 19.16 12061 1588

30 Gazipur 40183.89 2564.46 2.93 209299 2.42 96.73 49 52.34 12253 4271

31 Madaripur 27739.61 2406.16 2.75 198471 2.30 99.64 67 35.91 12124 2962

32 Thakurgaon 20704.67 2142.10 2.45 268644 3.11 97.05 72 29.75 7974 3731

33 perojpur 18468.63 1533.62 1.75 179058 2.07 99.03 61 25.14 8565 2935

34 Sunamganj 15025.94 1740.91 1.99 161684 1.87 99.36 58 30.02 10767 2788

35 Feni 17928.06 1480.29 1.69 94903 1.10 99.37 48 30.84 15598 1977

36 Narsingdi 22074.43 1347.67 1.54 203150 2.35 95.20 39 34.56 6634 5209

37 Kurigram 14042.72 1342.69 1.53 181193 2.10 93.82 48 27.97 7410 3775

38 Netrokona 10844.77 1095.92 1.25 144412 1.67 99.36 55 19.93 7589 2626

39 Sirajganj 26968.72 2301.34 2.63 198740 2.30 93.20 46 50.03 11580 4320

40 Sherpur 13747.24 1631.89 1.87 235443 2.72 97.44 61 26.75 6931 3860

Total 1080955.76 87495.34 100.00 8640225 100.00 96.26 2568 34.07 10127 3365


graMEEN baNKYEar ENd uPdaTE : dECEMbEr, 2014

Sl. No. Particulars In million BDT

1 Cumulative Amount Disbursed Since Inception 1,080,955.762 Cumulative Amount Repaid Since Inception 993460.423 Amount Disbursed this Month 13,274.824 Amount Repaid this Month 12,207.16

5

Outstanding Loans5.1 Basic Loan 76,398.045.2 Flexible Loan (a) 7,874.415.3 Housing Loan 30.085.4 Education Loan 2,906.935.5 Other Loans 285.875.6 Total : 87,495.34

6 Rate of Recovery (b) 98.15

7

Total Outstanding of Borrowers Missing 5 to 9 Consecutive Installments (c)7.1 Basic Loan 335.787.2 Flexible Loan 1226.687.3 Total : 1562.46

8

Overdue Loan(d)8.1 Basic Loan(e) 573.958.2 Flexible Loan 975.158.3 Housing Loan 1.018.4 Other Loans 08.5 Total : 1550.11

9

Microenterprise Loan (Cumulative)9.1 No. of Microenterprise Loans 6,210,5749.2 Amount Disbursed 209,491.609.3 Amount Repaid 189727.37

10

Balance of Deposits10.1 Members' Deposit 105,790.7610.2 Non-Members' Deposit 64,002.2510.3 Total : 169793.01

11

Deposits to Outstanding11.1 Deposits as Percentage of Outstanding Loans 19411.2 Deposits and Own Resources as Percentage of Outstanding Loans

212

11.3 No. of Branches with more in Deposits than in Outstanding Loans

2,141

Sl. No. Particulars In million BDT

12

Beggar Members12.1 No. of Beggar Members 78,71912.2 Amount Disbursed (Cumulative) 173.6812.3 Amount Repaid (Cumulative) 145.9112.4 Amount of Savings (Balance) 9.52

13 Cumulative Number of Village Phones 1,428,90214 Cumulative Number of Houses Built with Housing Loans 696,789

15Life Insurance Fund (Cumulative)15.1 No. of deaths among all Borrowers 166,94415.2 Amount paid out from Life Insurance Fund 285.98

16

Loan Insurance16.1 Balance in Loan Insurance Savings 8,764.9116.2 No. of deaths among Insured Borrowers (Cumulative) 336,13116.3 Amount of Outstanding Principal and Interest of the Deceased Borrowers paid out from Insurance Fund (Cumulative)

3,734.50

17

Higher Education Loan (Cumulative)6717.1 No. of Female Students 12,49117.2 No. of Male Students 40,68417.3 Total : 53,17517.4 Amount Disbursed (Female) 967.8117.5 Amount Disbursed (Male) 2,484.6217.6 Total : 3,452.43

18

Scholarship (Cumulative)18.1 Scholarship Recipient (Female) 121,14018.2 Scholarship Recipient (Male) 84,36518.3 Total : 205,50518.4 Scholarship Amount (Female) 203.8818.5 Scholarship Amount (Male) 143.218.6 Total : 347.09

19

Number of Members(f)19.1 Female 8,316,98619.2 Male 323,23919.3 Total : 8,640,225

20 Number of Groups 1,337,39821 Number of Centres 142,61322 Number of Villages 81,39023 Number of Branches 2,568

24Number of Branches with Computerised Accounting and MIS

2,568

(a) On the last day of each month, 50 per cent provision is made against the outstanding amounts of flexible loans with age of less than two years, and 100 per cent provi-sion is made against the outstanding amounts of flexible loans with age of two years and more. The portions of flexible loans which complete the third year are written off exactly on the date following their completion.

(b) Amount repaid as a percentage of amount due.

(c) if a borrower misses ten consecutive instalments, the entire outstanding loan is treated as an overdue loan.

(d) On the last day of each month, 100 per cent provision is made against all overdue loans. entire outstanding amount of overdue loans are written off one year after they became overdue.

(e) in case of one-year loan, if the borrower fails to repay half the loan amount, with interest, within 26 weeks, entire unrepaid amount becomes overdue. in case of loans with longer duration, if the borrower fails to repay the total principal amount and interest scheduled to be repaid within each segment of 26 weeks, entire unrepaid amount falls overdue.

(f ) Number of members includes both Beggar Members and Higher education loan recipients mentioned in item no. 12.1 & 17.3 respectively

Note : current exchange Rate : 1 uSD = BDT 77.51


0

200000

400000

600000

800000

1000000

1200000

2010 2011 2012 2013 2014

CUMULATIVE DISBURSEMENT OF LOANS

At the end of 2009, cumulative disbursement of loans was BDT 498,311 million. Up to 2014, this figure reached BDT 1080,956 million, which translates to an increase of growth 116.92% during the five-year period. The average annual growth of cumulative disbursement of loans during this time was 16.77%.

0

3000

6000

9000

12000

15000

Jan

Feb

Mar Ap

r

May Jun

Jul

Aug

Sep

Oct

o

Nov

Dec

2014: DISBURSEMENT OF LOANS

The highest amount of loan disbursed in the month of December (BDT 13,275 million). On the other hand, the lowest amount of loan disbursed in October (BDT 8,583 million). The average amount of loan disbursed per month during the twelve months was BDT 11,110 million.

8800

8880

8960

9040

9120

9200

2010 2011 2012 2013 2014

CUMULATIVE DISBURSEMENT OF HOUSING LOANS

Up to 2009, BDT 8,889 million was disbursed as housing loans. In 2014, this figure stood at BDT 9,102 million, which translates to an increase of 2.39% during the five-year period. The average annual growth of cumulative disbursement of housing loans during this time was 0.47%.

PaST FivE YEarS OF graMEEN baNK

(Amount in Million BDT)




680000

682500

685000

687500

690000

692500

695000

697500

700000

2010 2011 2012 2013 2014

CUMULATIVE NUMBER OF HOUSING LOANS

Up to 2009, the cumulative number of housing loans was 679,577. Up to 2014 this figure reached 696,789. It represents an increase of 2.53% from 2009 to 2014 and an average annual growth of 0.50% during the five-year period.

8.30

8.38

8.46

8.54

8.62

8.70

2010 2011 2012 2013 2014

figur

e in

milli

on

GROWTH OF MEMBERSHIP (CUMULATIVE)

Up to 2009, the cumulative number of members was 7.97 million. In 2014, this figure stood at 8.64 million. It represents an increase of 8.40% from 2009 to 2014 and an average annual growth of 1.64% during the five-year period.

2560

2562

2564

2566

2568

2570

2010 2011 2012 2013 2014

NUMBER OF BRANCHES (CUMULATIVE)

Up to 2009, the cumulative number of branches was 2,562. Up to 2014, this figure reached 2,568. It represents an increase of 0.23% from 2009 to 2014 and an average annual growth of 0.05% during the five-year period.


81370

81376

81382

81388

81394

81400

2010 2011 2012 2013 2014

NUMBER OF VILLAGES COVERED (CUMULATIVE)

Grameen Bank network now crisscrosses 81,390 villages representing nearly 93% of the country’s entire landscape. With this network GB has come quite close to fulfilling its dream of taking its services to the doorsteps of every household of rural Bangladesh.

21000

21260

21520

21780

22040

22300

2010 2011 2012 2013 2014

NUMBER OF EMPLOyEES

The number of employees of the Bank stood at 21,807 by the end of 2014 reflecting a decline of 418 employees over a period of 4 years since end December, 2010. The reduction has been achieved mainly through the process of rationalization of manpower.

0

20000

40000

60000

80000

100000

2010 2011 2012 2013 2014

OUTSTANDING OF LOANS

Outstanding of Loans of Grameen Bank have been increasing at a moderate rate and stood at BDT 87,495 million by the end of December, 2014. It reflects nearly 60% increase in the amount of outstanding loans totaling BDT 54,715 held by the Bank 5 years ago at the end of December, 2009.

PaST FivE YEarS OF graMEEN baNK



96.0

96.1

96.2

96.3

96.4

96.5

2010 2011 2012 2013 2014

PERCENTAGE OF WOMEN MEMBERS

Historically, the majority of members of Grameen Bank have been women. The years under consideration are no exception. The percentage of women members throughout 2009 to 2014 was within close proximity of the 97% mark.

2010 2011 2012 2013 20140

50000

100000

150000

200000 BALANCE OF DEPOSITS

Deposits of members and others with the Grameen Bank have been increasing at a very rapid pace and stood at BDT 169,793 million by the end of December, 2014. It is more than double- 105%, to be the precise the amount of deposits of only BDT 82,954 million held by the Bank 5 years ago at the end of December, 2009.

0

50000

100000

150000

200000

250000

2010 2011 2012 2013 2014

TOTAL ASSETS

Up to 2013, the total assets of Grameen Bank was BDT 178.93 billion, a 12.578% increase compared to the previous year. At the end of 2014, total assets stood at BDT 200.96 billion, which translate an increase of 12.31% compared to the previous year. This growth trend in the assets of Grameen Bank is the result of healthy loan portfolio growth.




sl. particulars 2013 2014increase/

decrease during 2014

1 Basic loans : Disbursed 779522.86 908678.71 129155.85

repaid 705540.3 832280.67 126740.37

2 Flexible loans Disbursed 24127.01 28013.32 3886.31

repaid 16928.05 20138.91 3210.86

3 Housing loans : Disbursed 9079.81 9102.56 22.75

repaid 9042.82 9072.48 29.66

4 other loans : Disbursed 134905.46 135161.17 255.71

repaid 131739.07 131968.37 229.3

5 outstanding : loans 84384.91 87495.34 3110.43

Interest 5740.91 5301.61 (439.30)

Average outstanding per loanee (In BDt) 12522.64 12967.76 445.12

6 overdue loans : 1495.96 1550.11 54.15

7 overall repayment percentage 97.31 98.15 0.84

8 Deposits Balance : GB Members 92134.2 105790.76 13656.56

9 number of Members : Female 8220330 8316986 96656

Male 323647 323239 (408)

total 8543977 8640225 96248

10 number of loanees : 6738588 6747139 8551

11 number of Centres 143057 142613 (444)

12 number of Villages Covered 81389 81390 1

13 number of Branches in operation 2567 2568 1

14 number of Areas 266 266 0

15 number of Zones 40 40 0

17 Information Management Centres 266 266 0

18 education loans Disbursed 3247.98 3452.43 204.45

19 number of education loanees 52639 53175 536

20 number of GB Scholarships 183291 205505 22214

21 Amount of GB Scholarships 303.57 347.09 43.52

COMParaTivE CONSOlidaTEd STaTEMENT FOr ThE YEarS 2013 & 2014



graMEEN baNK hiSTOriCal daTa SEriES : 1976-2014 (aMOuNT iN MilliON bdT)

Performance Indicator

1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Cumulative Disbursement (All Loans)

0.008 0.08 0.35 3.06 20.17 53.7 95.61 194.95 499.31 927.76 1469.49 2279.52 3559.95 5328.23 7590.7 10230.3 15434 26056.1 39968.5 53632 65509.8 81780.4 100899.8 116597.7 130559.1 146538.2 162286.24 183575.33 209166.76 248163.17 306368.63 356798.22 418903.07 498311.47 594460.61 703000.04 821608.85 947635.15 1080955.76

Disbursement During the Year (All Loans) 0.008 0.073 0.268 2.71 17.11 33.53 41.91 99.34 304.36 428.45 541.73 810.03 1280.43 1768.28 2262.47 2639.6 5203.7 10622.1 13912.4 13663.5 11877.8 16270.6 19119.4 15697.9 13961.4 15979.1 15748.04 21289.09 25591.43 38996.41 49732.95 58902.1 62104.85 79408.4 96149.34 108539.43 118608.81 126026.3 133320.61

Year-end Outstanding Amount 0.005 0.054 0.24 1.88 13.19 21.32 31.63 72.07 177.03 225.68 301.51 457.74 723.87 996.95 1270.82 1585.42 3168.88 6166.98 7933.38 8298.88 8639.68 10590.28 12316.68 11035.58 10435.98 11068.08 11395.12 15086.21 18874.64 27357.06 32941.31 36336.3 44396.63 54714.54 66434.45 75325.46 80321.46 84384.91 87495.34

Housing Loan Disbursement During the Year

- - - - - - - - 3.6 17.2 5.7 140.7 170.4 236.3 224.6 301.9 559.3 1673 1338.6 712.96 168.7 687.7 973.9 222.7 73.29 56.3 120.62 177.66 282.05 187.08 138.19 96.02 152.31 168.4 88.78 47.5 26.92 27.3 22.74

Number of Houses Built cum. - - - - - - - - 317 1581 2042 23408 44556 67841 91157 118717 157334 258194 295702 331201 329040 402747 506680 511583 533041 545121 558055 578532 607415 627058 641096 650839 665568 679577 687331 691322 693492 695398 696789

Total Deposits (Balance) - - 0 0.22 1.48 4.23 7.37 18.51 38.33 79.82 122.67 221.88 324.46 566.65 851.43 1381.03 2176.32 3150.21 4132.56 4767.2 5211.95 5804.35 5404.45 6013.62 6611.85 7697.14 9424.15 14715.75 20717.79 31659.56 44274.47 51918.71 64177.25 82953.62 104478.43 116875.33 131107.52 148353.68 169793.01

Deposits of GB Members (Balance) - - 0 0.22 1.48 4.23 7.37 18.51 38.33 71.62 112.39 217.37 285.39 415.77 543.52 951.8 1386.46 2722.01 3413.67 4047.99 3782.94 4562.86 4844.45 5523.95 5243.55 3827.6 7305.08 9972.15 13793.14 20138.37 27298.19 29533.51 34923.62 44823.49 56345.9 66547.12 79162.42 92134.2 105790.76

GB Members' Deposit as % of Total Deposit - - - 100 100 100 100 100 100 90 92 98 88 73 64 69 64 86 83 85 73 79 90 92 79 50 78 68 67 64 62 57 54 54 54 57 60 62 62

Number of Groups - 4 45 377 2935 4818 6243 11667 24211 34324 46869 67831 98073 132452 173907 213286 284889 372298 412145 424993 433791 465384 486870 494044 503001 504651 513141 577886 685083 877142 1086744 1168840 1210343 1253160 1284606 1302882 1311827 1321974 1337398

Number of Members 10 70 290 2200 14830 24128 30416 58320 121114 171622 234343 339156 490363 662263 869538 1066426 1424395 1814916 2013130 2065661 2059510 2272503 2368347 2357083 2378356 2378601 2483006 3123802 4059632 5579399 6908704 7411229 7670203 7970616 8340623 8370998 8373893 8543977 8640225

Percentage of Female Members 20 14 24 41 31 39 39 46 56 65 74 81 86 89 91 92 94 94 94 94 94 95 95 95 95 95 95 95 96 96 97 97 97 97 97 96 96 96 96

Number of Villages covered 1 2 4 17 363 433 745 1249 2268 3666 5170 7502 10552 15073 19536 25248 30619 33667 34913 35533 36420 37937 39045 39706 40225 40447 41636 43681 48472 59912 74462 80678 83566 83458 81376 81380 81386 81389 81390

Number of Branches 1 1 1 6 24 24 54 86 152 226 295 396 501 641 781 915 1015 1040 1045 1055 1079 1105 1137 1149 1160 1173 1178 1195 1358 1735 2319 2481 2539 2562 2565 2565 2567 2567 2568

Profit/Loss (For the Year) - - - - - - - -3.26 4.25 0.4 0.36 0.44 1.17 2.25 3.1 -8.31 -5.65 9.56 21.67 15.03 19.02 14.32 10.43 76.93 11.14 58.45 59.67 357.52 422.13 1000.44 1398.15 106.91 1305 371.57 757.24 683.56 1455 1333 436

Note :

1) 1976 figures show the loans given through Janata Bank. It does not include the loan personally given by Professor Muhammad Yunus. 2) Grameen Bank became operational as an independent bank on October 2, 1983. Housing Loan Programme started from 1984.

All former Managing Directors and Present Managing Director (right most)



1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Cumulative Disbursement (All Loans)

0.008 0.08 0.35 3.06 20.17 53.7 95.61 194.95 499.31 927.76 1469.49 2279.52 3559.95 5328.23 7590.7 10230.3 15434 26056.1 39968.5 53632 65509.8 81780.4 100899.8 116597.7 130559.1 146538.2 162286.24 183575.33 209166.76 248163.17 306368.63 356798.22 418903.07 498311.47 594460.61 703000.04 821608.85 947635.15 1080955.76

Disbursement During the Year (All Loans) 0.008 0.073 0.268 2.71 17.11 33.53 41.91 99.34 304.36 428.45 541.73 810.03 1280.43 1768.28 2262.47 2639.6 5203.7 10622.1 13912.4 13663.5 11877.8 16270.6 19119.4 15697.9 13961.4 15979.1 15748.04 21289.09 25591.43 38996.41 49732.95 58902.1 62104.85 79408.4 96149.34 108539.43 118608.81 126026.3 133320.61

Year-end Outstanding Amount 0.005 0.054 0.24 1.88 13.19 21.32 31.63 72.07 177.03 225.68 301.51 457.74 723.87 996.95 1270.82 1585.42 3168.88 6166.98 7933.38 8298.88 8639.68 10590.28 12316.68 11035.58 10435.98 11068.08 11395.12 15086.21 18874.64 27357.06 32941.31 36336.3 44396.63 54714.54 66434.45 75325.46 80321.46 84384.91 87495.34


- - - - - - - - 3.6 17.2 5.7 140.7 170.4 236.3 224.6 301.9 559.3 1673 1338.6 712.96 168.7 687.7 973.9 222.7 73.29 56.3 120.62 177.66 282.05 187.08 138.19 96.02 152.31 168.4 88.78 47.5 26.92 27.3 22.74

Number of Houses Built cum. - - - - - - - - 317 1581 2042 23408 44556 67841 91157 118717 157334 258194 295702 331201 329040 402747 506680 511583 533041 545121 558055 578532 607415 627058 641096 650839 665568 679577 687331 691322 693492 695398 696789

Total Deposits (Balance) - - 0 0.22 1.48 4.23 7.37 18.51 38.33 79.82 122.67 221.88 324.46 566.65 851.43 1381.03 2176.32 3150.21 4132.56 4767.2 5211.95 5804.35 5404.45 6013.62 6611.85 7697.14 9424.15 14715.75 20717.79 31659.56 44274.47 51918.71 64177.25 82953.62 104478.43 116875.33 131107.52 148353.68 169793.01

Deposits of GB Members (Balance) - - 0 0.22 1.48 4.23 7.37 18.51 38.33 71.62 112.39 217.37 285.39 415.77 543.52 951.8 1386.46 2722.01 3413.67 4047.99 3782.94 4562.86 4844.45 5523.95 5243.55 3827.6 7305.08 9972.15 13793.14 20138.37 27298.19 29533.51 34923.62 44823.49 56345.9 66547.12 79162.42 92134.2 105790.76

GB Members' Deposit as % of Total Deposit - - - 100 100 100 100 100 100 90 92 98 88 73 64 69 64 86 83 85 73 79 90 92 79 50 78 68 67 64 62 57 54 54 54 57 60 62 62

Number of Groups - 4 45 377 2935 4818 6243 11667 24211 34324 46869 67831 98073 132452 173907 213286 284889 372298 412145 424993 433791 465384 486870 494044 503001 504651 513141 577886 685083 877142 1086744 1168840 1210343 1253160 1284606 1302882 1311827 1321974 1337398


Percentage of Female Members 20 14 24 41 31 39 39 46 56 65 74 81 86 89 91 92 94 94 94 94 94 95 95 95 95 95 95 95 96 96 97 97 97 97 97 96 96 96 96

Number of Villages covered 1 2 4 17 363 433 745 1249 2268 3666 5170 7502 10552 15073 19536 25248 30619 33667 34913 35533 36420 37937 39045 39706 40225 40447 41636 43681 48472 59912 74462 80678 83566 83458 81376 81380 81386 81389 81390


Profit/Loss (For the Year) - - - - - - - -3.26 4.25 0.4 0.36 0.44 1.17 2.25 3.1 -8.31 -5.65 9.56 21.67 15.03 19.02 14.32 10.43 76.93 11.14 58.45 59.67 357.52 422.13 1000.44 1398.15 106.91 1305 371.57 757.24 683.56 1455 1333 436


graMEEN baNK hiSTOriCal daTa SEriES : 1976-2014 (aMOuNT iN MilliON uSd)


1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Cumulative Disburse-ment (All Loans) 0.001 0.006 0.026 0.21 1.31 3.37 5.46 9.63 21.83 38.33 56.51 83.04 124.16 179.35 248.08 322.43 459.37 725.39 1072.77 1405.94 1691.74 2062.96 2471.61 2792 3060.44 3347.98 3620.5 3986.46 4416.82 5025.61 5954..02 6685.51 7591.32 8741.86 10124.64 11597.09 13043.8 14652.23 16370.79

Disbursement During the Year (All Loans)

0.001 0.005 0.02 0.18 1.1 2.06 2.09 4.17 12.2 16.5 18.18 26.53 41.12 55.19 68.73 74.35 136.94 266.02 347.38 333.17 285.8 371.22 408.65 320.39 268.44 287.54 272.52 365.96 430.36 608.79 724.96 934.94 905.81 1150.54 1382.78 1472.45 1446.71 1608.43 1718.56

Year-end Outstanding Amount

0.0003 0.004 0.016 0.12 0.83 1.17 1.44 3.03 7.1 8.69 10.09 14.94 23.17 31.02 38.6 44.43 83.06 157.56 198.33 206.44 213.54 233.01 253.95 216.38 193.26 194.18 196.81 258.1 312.96 415.82 471.19 529.53 646.05 791.82 943.81 945.47 997.41 1085.34 1128.83


- - - - - - - - 0.14 0.66 0.19 4.59 5.45 7.35 6.82 8.46 14.72 41.9 33.42 17.39 4.06 15.69 20.81 4.54 1.41 1.01 2.09 3.05 4.74 2.95 2.01 1.4 2.21 2.43 1.26 0.6 0.33 0.35 0.29

Number of Houses Built cum.

- - - - - - - - 317 1581 2042 23408 44556 67841 91157 118717 157334 258194 295702 331201 329040 402747 506680 511583 533041 545121 558055 578532 607415 627058 641096 650839 665568 679577 687331 691322 693492 695398 696789

Total Deposits (Balance)

- - - 0.01 0.1 0.26 0.37 0.78 1.54 3.07 4.1 7.24 10.39 17.63 25.86 38.71 57.05 79.49 103.11 117.56 125.14 132.27 115.21 122.52 126.78 137.92 162.77 227.66 343.52 481.22 633.31 756.61 933.89 1200.49 1484.28 1466.99 1628.06 1908.09 2190.59

Deposits of GB Members (Balance)

- - - 0.01 0.1 0.26 0.37 0.78 1.54 2.76 3.76 7.1 9.14 12.94 16.51 26.68 36.34 68.69 85.17 99.83 90.83 103.98 103.27 112.54 100.54 68.58 126.17 170.61 228.7 306.1 390.48 430.39 508.2 648.68 800.48 835.28 983.02 1185.01 1364.87

GB Members' Deposit as % of Total Deposit

- - - 100 100 100 100 100 100 90 92 98 88 73 64 69 64 86 83 85 73 79 90 92 79 50 78 68 67 64 62 57 54 54 54 57 60 62 62

Number of Groups - 4 45 377 2935 4818 6243 11667 24211 34324 46869 67831 98073 132452 173907 213286 284889 372298 412145 424993 433791 465384 486870 494044 503001 504651 513141 577886 685083 877142 1086744 1168840 1210343 1253160 1284606 1302882 1311827 1321974 1337398


Percentage of Female Members

20 14 24 41 31 39 39 46 56 65 74 81 86 89 91 92 94 94 94 94 94 95 95 95 95 95 95 95 96 96 97 97 97 97 97 96 96 96 96

Number of Villages covered

1 2 4 17 363 433 745 1249 2268 3666 5170 7502 10552 15073 19536 25248 30619 33667 34913 35533 36420 37937 39045 39706 40225 40447 41636 43681 48472 59912 74462 80678 83566 83458 81376 81380 81386 81389 81390


Profit/Loss (For the Year)

- - - - - - - 0.0059 0.0068 0.0008 0.0003 0.0003 0.0013 0.0022 0.0027 -0.0064 -0.15 0.24 0.54 0.37 0.46 0.33 2.15 1.57 0.21 1.05 1.03 6.15 7 15.21 20 1.56 18.99 5.38 10.76 8.35 18.07 17.14 5.63

Note :

1) 1976 figures show the loans given through Janata Bank. It does not include the loan personally given by Professor Muhammad Yunus. 2) Grameen Bank became operational as an independent bank on October 2, 1983. Housing Loan Programme started from 1984.



1976

1977

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Cumulative Disburse-ment (All Loans) 0.001 0.006 0.026 0.21 1.31 3.37 5.46 9.63 21.83 38.33 56.51 83.04 124.16 179.35 248.08 322.43 459.37 725.39 1072.77 1405.94 1691.74 2062.96 2471.61 2792 3060.44 3347.98 3620.5 3986.46 4416.82 5025.61 5954..02 6685.51 7591.32 8741.86 10124.64 11597.09 13043.8 14652.23 16370.79

Disbursement During the Year (All Loans)

0.001 0.005 0.02 0.18 1.1 2.06 2.09 4.17 12.2 16.5 18.18 26.53 41.12 55.19 68.73 74.35 136.94 266.02 347.38 333.17 285.8 371.22 408.65 320.39 268.44 287.54 272.52 365.96 430.36 608.79 724.96 934.94 905.81 1150.54 1382.78 1472.45 1446.71 1608.43 1718.56

Year-end Outstanding Amount

0.0003 0.004 0.016 0.12 0.83 1.17 1.44 3.03 7.1 8.69 10.09 14.94 23.17 31.02 38.6 44.43 83.06 157.56 198.33 206.44 213.54 233.01 253.95 216.38 193.26 194.18 196.81 258.1 312.96 415.82 471.19 529.53 646.05 791.82 943.81 945.47 997.41 1085.34 1128.83


- - - - - - - - 0.14 0.66 0.19 4.59 5.45 7.35 6.82 8.46 14.72 41.9 33.42 17.39 4.06 15.69 20.81 4.54 1.41 1.01 2.09 3.05 4.74 2.95 2.01 1.4 2.21 2.43 1.26 0.6 0.33 0.35 0.29

Number of Houses Built cum.

- - - - - - - - 317 1581 2042 23408 44556 67841 91157 118717 157334 258194 295702 331201 329040 402747 506680 511583 533041 545121 558055 578532 607415 627058 641096 650839 665568 679577 687331 691322 693492 695398 696789

Total Deposits (Balance)

- - - 0.01 0.1 0.26 0.37 0.78 1.54 3.07 4.1 7.24 10.39 17.63 25.86 38.71 57.05 79.49 103.11 117.56 125.14 132.27 115.21 122.52 126.78 137.92 162.77 227.66 343.52 481.22 633.31 756.61 933.89 1200.49 1484.28 1466.99 1628.06 1908.09 2190.59

Deposits of GB Members (Balance)

- - - 0.01 0.1 0.26 0.37 0.78 1.54 2.76 3.76 7.1 9.14 12.94 16.51 26.68 36.34 68.69 85.17 99.83 90.83 103.98 103.27 112.54 100.54 68.58 126.17 170.61 228.7 306.1 390.48 430.39 508.2 648.68 800.48 835.28 983.02 1185.01 1364.87

GB Members' Deposit as % of Total Deposit

- - - 100 100 100 100 100 100 90 92 98 88 73 64 69 64 86 83 85 73 79 90 92 79 50 78 68 67 64 62 57 54 54 54 57 60 62 62

Number of Groups - 4 45 377 2935 4818 6243 11667 24211 34324 46869 67831 98073 132452 173907 213286 284889 372298 412145 424993 433791 465384 486870 494044 503001 504651 513141 577886 685083 877142 1086744 1168840 1210343 1253160 1284606 1302882 1311827 1321974 1337398


Percentage of Female Members

20 14 24 41 31 39 39 46 56 65 74 81 86 89 91 92 94 94 94 94 94 95 95 95 95 95 95 95 96 96 97 97 97 97 97 96 96 96 96

Number of Villages covered

1 2 4 17 363 433 745 1249 2268 3666 5170 7502 10552 15073 19536 25248 30619 33667 34913 35533 36420 37937 39045 39706 40225 40447 41636 43681 48472 59912 74462 80678 83566 83458 81376 81380 81386 81389 81390


Profit/Loss (For the Year)

- - - - - - - 0.0059 0.0068 0.0008 0.0003 0.0003 0.0013 0.0022 0.0027 -0.0064 -0.15 0.24 0.54 0.37 0.46 0.33 2.15 1.57 0.21 1.05 1.03 6.15 7 15.21 20 1.56 18.99 5.38 10.76 8.35 18.07 17.14 5.63


Since its modest beginning in 1993, gb computerization programme has come a long way. at the end of 2014, 2,568 (out of 2568) branches have been computerized. To increase the operational efficiency of any financial institution, it is important to minimise paper work at all levels particularly at branch level. given the limitations of power supply, it is still not possible to derive maximum benefit from the computerization of grameen management information system, especially in the rural areas.

All of our branches now under Information Management Centres at the area level. At the Information Management Centres, three branches are served by one computer. All branches within an area receive services from the centre. each centre provides all types of loan monitoring and accounting services on a regular basis. therefore, it has been possible to both reduce costs and increase the efficiency of the computerization programme when the Information Management Centres attain their full capacity to serve 3 branches with one computer.

COMPuTErizaTiON PrOgraMME


sl zone # of centres # of computers # of Branches

1. Chittagong 7 25 722. tangail 8 28 783. rangpur 6 21 594. Manikganj 6 23 625. patuakhali 9 30 876. Bogra 7 27 747. Sylhet 7 25 708. rajshahi 9 31 889. Dinajpur 7 22 63

10. Faridpur 9 30 8811. Comilla 8 26 7612. Mymensingh 6 21 5513. narayonganj 6 23 6214. Khulna 7 24 6915. noakhali 8 27 7816. Jamalpur 6 20 5617. nilphamari 6 22 6118. Hobiganj 6 19 5919. pabna 7 21 6120. Barisal 8 31 8021. Jhenaidah 7 28 7422. Cox’s bazar 7 20 5923. Gaibandha 6 19 5524. noagaon 7 28 7725. Jessore 8 28 8026. Chandpur 6 19 5427. Kishoreganj 7 27 7128. Bhola 5 18 5229. rangamati 6 15 4430. Gazipur 5 17 4931. Madaripur 7 25 6732. thakurgaon 7 26 7233. perojpur 6 21 6134. Sunamganj 7 21 5835. Feni 5 15 4836. narsingdi 4 15 3937. Kurigram 5 17 4838. netrokona 6 20 5539. Serajganj 5 17 4640 Sherpur 7 21 61

total 266 913 2568

All the Information Management Centre- (IMC)

at zonal and area offices were brought under Internet

network. As a result data transfer has become both

easy and less expensive. Grameen Communications,

an independent company provides necessary technical

assistance for supporting the computerization

programme of Grameen Bank.


EvENTS

Board of Directors meeting of Grameen Bank, Head Office, Dhaka. Zonal Manager and Zonal Audit Officer Conference at GB Head Office, Dhaka

A.S.M. Mohiuddin (3rd from left) Acting Managing Director of Grameen Bank with the participants of 62nd Grameen Bank International Dialogue Pro-gramme.

A.S.M. Mohiuddin (3rd from Right) Acting Managing Director of Grameen Bank with Ms. Joc Llyn Ellis, Vocalist, Song-writer and music producer and others musicians and dancers, Hop-Hop Music and song, USA.

All Zonal Managers, Zonal Audit Officers, Grameen Bank Executives, Acting Managing Director and two Ex-Acting Managing Director meet with Founder of Grameen Bank Nobel Laureate Prof. Muhammad Yunus after conference of GB.

Three students (sons of GB Member) were received Khazanah Scholarship from Malaysia with A.S.M. Mohiuddin, Acting Managing Director Of Grameen Bank.


President, General Secretary, Zonal Representatives of GB Karmochari Somitte, Acting Managing Director (2nd from right) meet with founder of GB Nobel laureats Prof. Muhammad Yunus.

A.S.M. Mohiuddin, Acting Managing Director of GB and his colleague attend a cultural function at head office, Dhaka.

Mr. Ibrahim Ali Shoukry (in the middle), Director, Islamic Development Bank (IDB), Egypt visit Grameen Bank.

M. Shahjahan (1st from Left) Ex-Acting Managing Director of GB received the Centenary award MCCI (Metropolitan Chamber of Commerce and Industry) from Hon. Finance Minister AMA Muhith at a ceremony at BIC conference centre in Dhaka for their Pioneering in Poverty Alleviation and Social Development in Bangladesh.

Top Executives of GB and A.S.M. Mohiuddin (3rd from left in the 1st row) Acting Managing Director of Grameen Bank with Ex- Acting Managing Director of GB M. Shahjahan (4th from left in the 1st row) attend the ceremony of achieving the Centenary award MCCI (Metropolitan Chamber of Commerce and Industry).

A.S.M. Mohiuddin Acting Managing Director of GB and his colleague attend a special assembly of employees during Gazipur zone visit.


Financials


A. Qasem & co

chartered Accountants

AcNABIN

chartered AccountantsBDBl Bhaban (level-13)12 Kawran Bazar c/ADhaka-1215

auditors’ reportalONg wiTh FiNaNCial STaTEMENTS

FOr ThE YEar ENdEd 31 dECEMbEr 2014

Auditors’ report

BAlAnce sheet

profit And loss Account

cAsh flow stAtement

stAtement of chAnges in equity

stAtement of liquidity

notes to the finAnciAl stAtements

stAtement of fixed Assets schedule (Annexure-A)

stAtement of investment property (Annexure-B)

53

54

55

56

57

58

59

84

86



We have audited the accompanying financial statements of Grameen Bank (‘’the Bank’’) which comprise the balance sheet as at 31 December 2014, the profit and loss account, statement of changes in equity and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh Financial Reporting Standards and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Bank as at 31 December 2014 and its financial performance and its cash flows for the year then ended in accordance with Bangladesh Financial Reporting Standards and other applicable laws and regulations.

Report on Other Legal and Regulatory Requirements

We further report that:

1. we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit and made due verification thereof;

2. in our opinion, proper books of accounts as required by laws were kept by the Bank so far as it appeared from our examination of those books and proper returns adequate for the purpose of our audit have been received from the branches not visited by us;

3. the Bank’s financial statements dealt with by the report are in agreement with the books of accounts and returns;

4. the balance sheet has been prepared to reflect true and fair view of the intangible assets of the bank;

5. the financial statements have been drawn up in conformity with the Grameen Bank Act 2013 and in accordance with the applicable rules and regulations;

6. the records and statements submitted by the branches have been properly maintained and consolidated in the financial statements; and

7. the information and explanations required by us have been received and found satisfactory.

A. Qasem & Co ACNABIN Chartered Accountants Chartered Accountants

Dated, Dhaka : 24 December 2015

AUDITORS’ REPORT TO THE BOARD OF DIRECTORS OFGRAmEEn BAnk


Notes Amount in Taka

31. 12. 2014 31. 12. 2013 01. 01. 2013

PROPERTY AND ASSETS

Cash in hand 1,822,748 2,142,260 1,823,203 Balance with Bangladesh Bank 1,934,807 13,664,359 3,042,241 Balances with other banks 4 95,575,695,956 78,854,155,986 65,719,182,443 Investments 5 267,000,000 267,000,000 267,000,000 Loans and advances 6 91,643,316,531 87,707,167,495 83,132,069,058 Fixed assets 7 1,427,527,508 1,408,734,663 1,376,616,524 Investment property 8 98,983,681 101,389,589 103,979,126 Other assets 9 11,945,170,101 10,582,321,620 8,348,559,788

200,961,451,332 178,936,575,972 158,952,272,383

CAPITAL AND LIABILITIES

Borrowings from banks and other institutions 10 1,340,795,872 1,402,853,805 1,464,911,737 Members deposit 105,862,740,768 92,211,006,823 79,238,673,025 Non-members deposit 64,138,573,507 56,334,947,294 52,033,841,973 Other funds (figure of 2013 i.e. 01. 01. 13 restated) 5,932,265,445 5,811,822,546 5,232,643,370 Deposits and other funds 11 175,933,579,720 154,357,776,663 136,505,158,368 Other liabilities 12 13,044,213,975 12,776,050,436 11,836,423,010

Shareholders’ fund Paid up capital 13 796,240,000 734,049,100 597,991,000 Capital and other reserves (figures of 2013 i.e. 01. 01. 13 restated) 14 8,377,973,198 8,327,197,401 7,354,139,701 Retained surplus (figures of 2013 i.e. 01. 01. 13 restated) 15 1,468,648,567 1,338,648,567 1,193,648,567

10,642,861,765 10,399,895,068 9,145,779,268

200,961,451,332 178,936,575,972 158,952,272,383

The annexed notes 1 to 30 form an integral part of these financial statements.

(Babul Saha) (A. S. M. Mohiuddin) Deputy General Manager Director Director Acting Managing Director



G r a m e e n B a n k

Balance Sheet As at 31 December 2014



2014 2013

OPERATING INCOMEInterest income 16 27,059,145,545 25,969,657,099LESS: Interest/profit paid on deposits & borrowings etc. 17 (15,007,474,608) (13,633,793,417) Net interest income 12,051,670,937 12,335,863,682 Dividend income from share investments 5,000,000 35,165,000 Other income 18 1,958,703,527 1,208,716,807 Total operating income 14,015,374,464 13,579,745,489LESS: Operating expenses Salaries and other related expenses 19 6,140,540,015 5,616,652,020 Rent, rates, taxes, vehicle insurance, utilities etc. 20 173,849,019 161,926,595 Legal, professional fees and others 21 300,605,278 284,275,042 Auditors’ fees 22 1,564,000 1,608,550 Stationery, printing, advertisement etc. 23 129,901,004 120,590,673 Directors’ remuneration 218,000 108,000 Repairs & maintenance of fixed assets 24 65,338,688 53,969,078 Depreciation of fixed assets (Annexure-A) 60,691,176 62,498,138 Depreciation of investment property (Annexure-B) 2,405,908 2,405,908 Other expenses 25 1,933,845,933 1,830,733,613 Total operating expenses 8,808,959,021 8,134,767,617

Profit before provision 5,206,415,443 5,444,977,872 Provisions for loans and advances 26 4,770,404,200 4,112,079,124 Specific provision 4,847,858,342 4,076,739,669 General provision (77,454,142) 35,339,455

NET PROFIT 436,011,243 1,332,898,748 APPROPRIATIONS Net profit transferred for appropriation 436,011,243 1,332,898,748 Retained surplus brought forward from previous year (figures of 2013 i.e. 01.01.13 restated) 1,338,648,567 1,193,648,567 Total retained surplus available for appropriation 1,774,659,810 2,526,547,315 Dividend equalization fund - 250,000,000 General reserve 50,000,000 700,000,000 Employees welfare fund 17,139,243 17,684,018 67,139,243 967,684,018

Remaining retained surplus 1,707,520,567 1,558,863,297 Proposed allocation for cash dividend @ 30% 238,872,000 220,214,730 Unallocated Retained surplus 1,468,648,567 1,338,648,567 1,707,520,567 1,558,863,297The annexed notes 1 to 30 form an integral part of these financial statements

(Babul Saha) (A. S. M. Mohiuddin) Deputy General Manager Director Director Acting Managing Director



notes to the Financial StatementsAs at and for the year ended 31 December 2014




2014 2013

Cash flows from operating activities Interest received 26,160,726,273 23,727,223,418 Dividend income from share investments 5,000,000 35,165,000 Interest paid (15,007,935,289) (13,634,975,497) Cash payments to employees (6,140,683,331) (5,616,723,604) Payments for other operating expenses (2,605,103,922) (2,453,103,551) Receipts from other operating income 1,330,662,914 818,446,459 Recoveries from loans previously written off 627,032,854 388,978,677 Operating profit before changes in operating assets and liabilities 4,369,699,499 3,265,010,902 (Increase)/decrease in operating assets: Loans and advances (3,936,149,036) (4,575,098,437) Other assets 27 (464,429,209) 8,671,849 Increase/(decrease) in operating liabilities: Deposits and other funds 21,558,663,814 17,834,934,277 Other liabilities 28 (4,501,854,664) (3,171,306,034)

Net cash from operating activities 17,025,930,404 13,362,212,557

Cash flows from investing activities Purchase of tangible fixed assets (132,833,491) (117,831,361) Disposal of tangible fixed assets 54,357,229 24,690,385 Fixed deposits with other Banks (17,121,511,469) (13,175,967,629)

Net cash used in investing activities (17,199,987,731) (13,269,108,605)

Cash flows from financing activities Issue of share capital 62,190,900 136,058,100 Net decrease in borrowings from banks and other institutions (62,057,933) (62,057,932) Payment of dividends (220,214,730) (179,397,300) Payment of tax on dividends (17,881,473) (17,759,730)

Net cash used in financing activities (237,963,236) (123,156,862)

Net Increase/(decrease) in cash and cash equivalents (412,020,563) (30,052,910)Cash and cash equivalents at beginning of the period 2,073,955,003 2,104,007,914

Cash and cash equivalents at end of the period 29 1,661,934,440 2,073,955,003

The annexed notes 1 to 30 form an integral part of these financial statements.

(Babul Saha) (A. S. M. Mohiuddin) Deputy General Manager Acting Managing Director



Cash Flow StatementFor the year ended 31 December 2014


(Amount in Taka)

Particulars Paid up Capital Capital Reserves General Reserve

Dividend Equalization

Fund

Other Reserves

Retained Surplus

TotalProposed Dividend

remaining Retained Surplus

Balance as at 1 January 2014 734,049,100 3,765,914,839 3,084,000,000 1,243,662,216 13,405,616 220,214,730 1,338,648,567 10,399,895,068

(Figures of 2013 i.e. 01.01.2013 for Capital reserves, Other reserves and Retained surplus restated)

Restated balance 734,049,100 3,765,914,839 3,084,000,000 1,243,662,216 13,405,616 220,214,730 1,338,648,567 10,399,895,068Paid up capital 62,190,900 - - - - - - 62,190,900

Dividend for the year 2013 @ 30% - - - - - (220,214,730) - (220,214,730)

Tax paid - - - (17,881,473) - - - (17,881,473)

Net profit for the year - - - - - - 436,011,243 436,011,243

Proposed dividend for the year 2014 @ 30% - - - - - 238,872,000 (238,872,000) -

General reserve - - 50,000,000 - - - (50,000,000) -

Employees welfare fund - - - - - - (17,139,243) (17,139,243)

Dividend equalization fund - - - - - - - -

Balance as at 31 December 2014 796,240,000 3,765,914,839 3,134,000,000 1,225,780,743 13,405,616 238,872,000 1,468,648,567 10,642,861,765




Statement of Changes in Equityfor the year ended 31 December 2014


(Amount in Taka)

Particulars up to 1 monthOver 1 month but not more

than 3 months

Over 3 months but not more than 1 year

Over 1 year but not more than 5

yearsOver 5 years Total

AssetsCash in hand 1,822,748 - - - - 1,822,748

Balances with Bangladesh Bank 1,934,807 - - - - 1,934,807

Balances with other banks and financial institutions 7,280,592,464 23,560,947,902 64,734,155,590 - - 95,575,695,956

Investments-at cost - - - - 267,000,000 267,000,000

Loans and advances 5,498,598,992 10,997,197,984 51,320,257,257 21,994,395,967 1,832,866,331 91,643,316,531

Fixed assets (net off accumulated depreciation) (Annexure-A) - - - 185,578,576 1,241,948,932 1,427,527,508

Investment property (net off accumulated depreciation) (Annexure-B) - - - - 98,983,681 98,983,681

Other assets 238,903,402 1,433,420,413 3,225,195,927 5,255,874,844 1,791,775,515 11,945,170,101

Total assets (A) 13,021,852,413 35,991,566,299 119,279,608,774 27,435,849,387 5,232,574,459 200,961,451,332

LiabilitiesBorrowings from banks and other institutions - 31,028,966 62,057,932 310,289,660 937,419,314 1,340,795,872

Deposits and other funds (restated. See note #30) 7,097,513,271 26,380,635,383 73,865,779,072 47,485,143,688 21,104,508,306 175,933,579,720

Other liabilities 1,695,747,817 32,204,250 3,489,733,523 7,826,528,385 - 13,044,213,975

Total liabilities (B) 8,793,261,088 26,443,868,599 77,417,570,527 55,621,961,733 22,041,927,620 190,318,589,567

Net Liquidity Gap (A-B) 4,228,591,325 9,547,697,700 41,862,038,247 (28,186,112,346) (16,809,353,161) 10,642,861,765




Statement of Liquidity for the year ended 31 December 2014


1.00 BACKGROUND

1.01 Legal form of the entity

Grameen Bank (the “Bank”) was established as a body corporate under the Grameen Bank Ordinance 1983. Subsequently, on 10 November 2013, the Government has enacted the Grameen Bank Act, 2013 repealing the previous Grameen Bank Ordinance, 1983. Initially the authorized capital of the Bank was Tk 100 million and paid-up capital was Tk. 30 million. At present the Bank’s authorized capital is Tk. 10,000 million and paid-up capital is Tk. 796.24 million. Members who are also borrowers hold 75.55 percent of Grameen Bank shares. The remaining 24.45 percent is held by the Government of Bangladesh, Sonali Bank Ltd. and Bangladesh Krishi Bank. The board of the Bank consists of 13 members: the Managing Director, three members including the Chairman nominated by the government and nine members elected from the borrower shareholders.

1.02 Nature of business

The principal activity of the Bank is to provide credit without collateral to landless persons (any person who or whose family owns less than fifty decimals of cultivable land or who or whose family owns property, both movable and immovable, the value of which does not exceed the value of one acre of cultivable land according to the prevailing market price in the union in which the person normally resides) for all types of economic activities. The Bank also accepts deposits but excluding business in foreign exchange transactions, carries out survey and research, issue publications and maintaining statistics with a view to improving the economic condition of the landless persons. The Bank undertakes income-generating projects for landless persons, invests its funds in Government Securities and provides professional counseling to landless persons regarding investments in small business and cottage industries. Grameen Bank now operates 40 Zonal offices, 40 Zonal audit offices, 266 Area offices and 2,568 Branch Offices. The Bank offers five types of loans such as basic loan, housing loan, higher education loan, young entrepreneur loan and struggling members’ loan. Loans & advances and Deposits as at December 31, 2014 were Tk. 91,643,316,531 and 170,001,314,275 respectively. As on December 31, 2014, out of 2,568 branches, 1,665 branches registered profits, 889 branches were not profitable and the remaining 14 branches were not in operation. During the year the Bank opened 1 (one) new branch.

2.00 RISK MANAGEMENTIn the ordinary course of business, the Bank is exposed to a variety of risks. The most important of which are credit risk, liquidity risk and operational risk. These risks are being identified, measured and monitored through various control mechanisms across the Bank in order to assess the quality of products offered.

2.01 Credit Risk

Credit risk arises mainly from micro-credit loan provided to the members of Grameen Bank. This can be described as potential loss arising from the failure of a counter party to perform as contractual agreement with the Bank. The failure may result unwillingness of a counter party or decline in his/her financial condition in adverse environment. Therefore, the Bank’s credit risk management activities have been designed to address all these issues.

The officers/executives involved in credit related activities including credit approval, administration, monitoring and recovery policies are approved by the different levels of the management. An effective assessment is done before sanction of credit facilities to the members is done by borrower financial condition, historical performance etc. The process starts at the branch manager and approved by the competent authority. Credit approval authority has been delegated to individual executives by the approval of the Board of Directors. Loans are classified as per Grameen Bank Loan Policy and Guidelines.

2.02 Liquidity Risk

The objective of liquidity risk management is to ensure that all foreseeable funding commitments and deposit withdrawals can be met when due. To this end, the Bank is maintaining a diversified and stable funding base. The liquidity management is monitored by the Fund unit on a regular basis.

2.03 Operational Risk

Operational risk may arise from error and fraud due to lack of internal control and compliance. Management through different departments controls operational procedures of the Bank. Audit department undertakes routine audit on yearly basis and special audit of branches and departments of the Head Office for review of the operation and compliance of the statutory requirements.




The Managing Director subsequently reviews the report of the audit department and gives necessary directions to the relevant departments.

2.04 Internal audit

Internal audit is a part of the internal control system, which is introduced in large business entities to detect any error or fraud at an early stage. At present, the Internal Audit Division of Grameen Bank is characterized by two-tier structure namely central audit and zonal audit. Central audit conducts the audit of different divisions at the head office. Moreover, Central audit office supervises, advises, directs and provides necessary guidance to zonal audit offices. The zonal audit office audits zonal offices and their area offices and all branches within the zone. Central and zonal audit offices execute complete audits and brief audits to monitor operations and review compliance of statutory requirements. Besides, Central audit conducts pre-audit of almost all transactions of Head Office. The Internal Audit Division works under the direct supervision of the Managing Director; however, internal audit is completely independent in its work. Internal audit is conducted in yearly intervals to ensure compliance with the policies of the Bank and regulatory bodies.

3.00 SIGNIFICANT ACCOUNTING POLICIES

3.01 Basis of preparation and presentation of Financial Statements

The accompanying Financial Statements comprising the Balance Sheet, Profit and Loss Account, Cash Flow Statement, Statement of Changes in Equity, Statement of Liquidity and Notes thereto have been prepared in accordance with Bangladesh Financial Reporting Standards (BFRS) on a going concern basis under the historical cost convention.

3.02 Statement of compliance

The financial statements of the Bank are prepared in accordance with Bangladesh Financial Reporting Standards (BFRS) and the requirements of the Grameen Bank Act, 2013.

3.03 Basis of consolidation

A separate set of records for consolidation of the statement of affairs and income & expenditure account of the branches, zonal offices and zonal audit offices are maintained at the head office of the Bank based on which these Financial Statements have been prepared.

3.04 Tax exemption

Grameen Bank enjoyed unconditional exemption of income tax up to 31 December 2010 vide SRO No. 315-Law/2008 dated 20 November 2008. Previously Grameen Bank enjoyed income tax exemption from 1997 to 2005 subject to the condition that the Bank will transfer its entire profits to Rehabilitation Fund that the Bank did earlier. The National Board of Revenue (NBR), has exempted the Grameen Bank from payment of taxes from 01.01.2011 to 31.12.2015 vide SRO No. 202-Law/2012 dated 18 June 2012 and SRO No. 91-Law/2015 dated 07 May 2015 . In the new Grameen Bank Act, 2013 tax exempt status has been retained.

3.05 Rehabilitation fund

Rehabilitation Fund consists of transfer of funds from general reserve and tax provision made for the years 1997 and 1998 and transferred the entire revenue profit from 1999 to 2005 in order to comply with the requirement for tax exemption allowed by the Ministry of Finance, Government of the Peoples’ Republic of Bangladesh. The Rehabilitation Fund can be utilized for the purpose of rehabilitation of members affected due to natural disasters.

3.06 Foreign fund

Foreign funds were received from the foreign donor agencies (IFAD 239 BA, NORAD, SIDA, Dutch Grant and JICA former JBIC) under the subsidiary loan agreements with the Government of the Peoples Republic of Bangladesh. The terms for repayments, rates of interest, grace periods etc. have been set out in those agreements. The funds were disbursed to Grameen Bank in equivalent taka currencies and were accounted for at cost as and when those funds were received. Consequently, no accounting treatment is required in respect of exchange differences on foreign currencies; Grameen Bank does not need to account for exchange gain/loss on such differences as well.




3.07 Accruals & deferrals

Deferrals and accruals are made as per the Bangladesh Accounting Standard (BAS) 1(Presentation of Financial Statements). In order to meet their objectives, Financial Statements except cash flow statement and related information are prepared on accrual basis of accounting. Under the basis, the effects of transactions and other events are recognized when they occur (and not when cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the Financial Statements of the year to which they relate.

3.08 Reconciliation of inter branch transactions

Books of accounts with regard to inter branches are reconciled. Unreconciled entries are caused by mismatching of original figures with corresponding ones, lack of original advice and incomplete advice from branches, zonal offices and zonal audit offices.

3.09 Cash Flow Statement

Bangladesh Accounting Standard (BAS) 1: Presentation of Financial Statements requires that a cash flow statement is to be prepared as it provides information about cash flows of the enterprise that is useful in providing users of Financial Statements with a basis to asses the ability of the enterprise to generate cash and cash equivalents and the needs of the enterprise to utilize those cash flows.

Cash flow statement has been prepared under the direct method for the year, classified by operating, investing and financing activities as prescribed in paragraph 10 and 18(a) of BAS 7: Cash flow statement.

3.10 Liquidity Statement

The liquidity statement of assets and liabilities as on reporting date has been prepared on residual maturity term as per the following bases:

a. Balance with other banks and financial institutions, money at call of short notice, etc. are on their maturity term;b. Investments are on the basis of their respective maturity;c. Loans and advances/investments are on the basis of their repayment schedule;d. Fixed assets are on the base of their useful lives;e. Other assets are on the basis of their realization/amortization;f. Borrowing from other banks, financial institutions, agents, etc. are as per as their maturity/repayment terms;g. Provisions and other liabilities are on the basis of their payment/adjustment schedule;h. Deposits and other funds are on the basis of their maturity term and past trend of withdrawal by the depositors.

3.11 Provision for loan impairment

Specific provisions are made against non-performing and problem loans on the basis of best estimate up to such amount as it is expected to cover for the loss from non-performing and impaired loans and advances.

The Bank writes-off its non-performing and problem loans after one year on overdue loan. Subsequent recoveries of such loans are credited directly to the Profit and Loss Account.

Provisions for loans & advances are made on the basis of year-end review by the management and instructions given in board resolution by the Board of Directors (BOD). The relevant calculation rates are given below:

a) Basic loansBasic loan provision is made @ 100% on overdue loan;

Basic loan provision is made @ 1% on regular loan.

b) Flexible loansProvision is made on flexible loans at the following rates:

Principal outstanding from the signing of first contract year below 2 years @ 50%;

Principal outstanding for 2 years and beyond from the signing of first contract year@100%;

Overdue flexible loans @100%.




c) Housing loans (Members)Housing loan provision is made @ 100% on overdue loan;

Housing loan provision is made @ 1% on regular loan.

d) Educational loansNo provision is made on educational loan.

e) Young entrepreneur loansYoung entrepreneur loan provision is made @ 100% on overdue loan;

Young entrepreneur loan is made @ 1% on regular loan.

As per BAS 39, an entity should start the impairment assessment by considering whether objective evidence of impairment exists for financial assets that are individually significant. For financial assets that are not individually significant, the assessment can be performed on an individual or collective (portfolio) basis. The above calculation rate are determined by Management on the basis of historical loan loss data and covers portfolio that are impaired and identified as well as those that impaired but yet to be individually identified.

3.12 Overdue Policies

If a borrower fails to repay ten consecutive installments, the entire outstanding loan is treated as an overdue loan; In the case of young entrepreneur loan the installment schedule may be weekly, fortnightly and monthly. For the case of weekly, fortnightly and monthly installment schedule; if a borrower fails to repay ten, five & three consecutive installments respectively, the entire outstanding loan is treated as an overdue loan;

In the case of one year, if a borrower fails to repay half of the loan amount along with interest, within 26 weeks, entire un-paid amount is overdue;

In the case of loan with longer duration, if the borrower fails to repay the total principal amount and interest scheduled to be repaid within each segment of 26 weeks, entire un-paid amount is overdue.

3.13 Provision for interest receivablea) Interest receivable on basic loans:

Provision is made on interest receivable on basic loan @ 100% on overdue interest of basic loans;Provision is made on interest receivable on basic loan @ 1% on regular interest of basic loans.

b) Interest receivable on flexible loans:Provision is made on interest receivable on flexible loans at the following rates:Interest receivable outstanding from the signing of first contract year below 2 years at the rate of 50%;Interest receivable outstanding for 2 years and beyond from the signing of first contract year at the rate of 100%;Interest receivable outstanding of overdue loan is 100%.

c) Interest receivable on Housing loans (Members)Provision is made on interest receivable on housing loans (Members) at the following rates: Interest receivable on housing loan provision is made @ 100% on overdue interest receivable;Interest receivable on housing loan provision is made @ 1% on regular interest receivable.

d) Interest receivable on young entrepreneur loans:Interest receivable on young entrepreneur loan provision is made @ 100% on overdue interest of young entrepreneur loans;Interest receivable on young entrepreneur loan provision is made @ 1% on regular interest of young entrepreneur loans.

3.14 Bad debt recovery

Full amount of Bad debt recovery are shown in other income.




3.15 Fixed assets:

3.15.1 Recognition and measurementThe major categories of Fixed assets held by the Bank are land, buildings & other structures, equipment, furniture and fixtures, vehicles, capital work in progress, mobile handset etc.

As per BAS:16 Property, Plant and Equipment, all property and equipment except land are stated at historical cost less accumulated depreciation. No depreciation is charged on land and the carrying amounts are the same as those were initially recognized. The cost of acquisition of an asset comprises its purchase price and any direct cost attributable to bringing the assets to its working condition for its intended use.

3.15.2 Subsequent costsThe cost of replacing part of an item of property and equipment is recognised in the carrying amount of an item if it is probable that the future economic benefits embodied within the part will flow to the entity and its cost can be measured reliably. The costs of the day-to-day servicing of property, plant and equipment are recognised in the profit and loss account when incurred.

3.15.3 Disposal of assetGains and losses on disposal or sale of assets are credited or charged to profit and loss account respectively.

3.15.4 Capital work-in-progressBuilding & other structure under construction/acquisition have been accounted for as capital work-in-progress until construction/acquisition is completed and measured at cost.

3.16 Depreciation

As required by BAS 16 Property, plant & equipment, depreciation is charged on property and equipment at the following rates using straight-line method.

Property & Equipment Depreciation RateBuilding and other structures 1.7%Office House (Semi-Paka and Tin shed) 7.5%Development of leasehold property 10%Vehicles 20%Computer equipment 30%Office equipment 15%Electrical equipment 10%Furniture & fixtures 10%Library books 10%Mobile handset 33.33%

Depreciation at the applicable rates is charged proportionately on additions made during the year from the date of their acquisition on straight-line method. Depreciation on disposed assets during the year is charged proportionately up to the date of disposal.

3.17 Investment Property (Building and other structure):

As per BAS 40 Investment Property is recognized for let out portion of Head office building and old administrative building held to earn income through rental. Investment Property is measured at cost less accumulated depreciation. The cost of Investment Property is measured proportionately based on per square feet cost of each building.

Subsequent cost related to let out portion is recognized as addition of Investment property.

Subsequent change in use of that property is accounted for as per BAS 40.

Depreciation is charged on Investment Property (Building) @ 1.7%, same as own occupied property.




3.18 Investments

Value of investment is recognized and measured as below:

Nature of Investments Basis of MeasurementShares in CDBL At costGrameen Mutual Fund-One At cost

The Bank is Sponsor Shareholder of Grameen Mutual Fund-One. As per the local regulation these sponsor shares cannot be freely traded and hence these are stated at cost price instead of fair value, determination of which would be quite subjective. Similarly, CDBL shares are also not traded in market and hence measured at cost price.

3.19 Revenue recognition

As per BAS 18, Revenue is recognized when it is probable that the economic benefits associated with the transaction will flow to the Bank and the amount of revenue and the cost incurred or to be incurred in respect of the transaction can be measured reliably.Revenue is recognized on an accrual basis which complies with the conditions of revenue recognition as provided in BAS 18: Revenue.a) Interest on loans and advances (including bad and doubtful loans and advances) is accounted for on an accrual basis.

b) Income on investments is accounted for consistently on accrual basis. Dividend received in the form of Bonus share is not recognized as revenue at the time of receiving.

3.20 Interest expenses and other expenses

In accordance with the provision of BAS: 1 Presentation of Financial Statements, the interest expenses and other expenses are recognized on accrual basis.

3.21 Retirement benefits to the employees

a) Grameen Bank Superannuation fund The Bank operates a superannuation fund scheme, provision in respect of which is made annually @ 60% of annual basic salary.

It is operated by a separate Board of Trustees consisting ten members.

b) Non-contributory provident fund Provident fund benefits are given to the employees of the Bank in accordance with non-contributory provident fund rules.

The fund is operated by a Board of Trustees. All regular employees of the Bank are contributing 10% of their basic salary as subscription of the fund. Interest earned from the investments is credited to the members account on accrual basis.

3.22 Comparative Information

As required by BAS 1 “Presentation of Financial Statements” comparative information in respect of the previous year have been presented in all numerical information in the Financial Statements and the narrative and descriptive information where it is relevant for understanding of the current year’s Financial Statements.

3.23 Dividend

Proposed dividend to the Bank’s shareholders is recognized as liability and deducted from the shareholders’ equity in the year in which the shareholder’s right to receive payment is established. Finally dividend payable is recognized when it is approved by the Board of Directors.

3.24 Reporting year

The Financial Statements cover one calendar year from 01 January 2014 to 31 December 2014.

3.25 Events after the Reporting Period

Grameen Bank has decided to propose payment of 30% (thirty percent) cash dividend for the year 2014. The Total amount of proposed dividend is Tk. 238,872,000.

3.26 General

i) Previous year’s figures have been rearranged, wherever considered necessary, for the purpose of comparison.ii) Figures appearing in these accounts have been rounded off to the nearest Taka.




Amount in Taka

2014 2013

4.00 Balances with other banks

On short term deposit accounts 1,588,116,612 1,978,307,206 On current deposit accounts 70,060,273 79,841,178 Fixed deposits with other banks (Note 4.01) 93,917,519,071 76,796,007,602

95,575,695,956 78,854,155,986

4.01 Fixed deposits with other banks

Southeast Bank Limited 4,156,358,146 3,297,074,454 Prime Bank Limited 681,030,000 1,760,000,000 NCC Bank Limited 200,000,000 375,000,000 Mercantile Bank Limited 500,000,000 - One Bank Limited - 2,539,308,761 Dhaka Bank Limited 465,305,353 1,423,354,776 EXIM Bank Limited 7,696,555,374 7,523,493,192 First Security Bank Limited 4,400,848,739 5,102,694,520 Mutual Trust Bank Limited 2,380,000,000 - Standard Bank Limited 6,005,566,695 5,044,627,522 Premier Bank Limited 1,375,324,990 1,391,462,213 Jamuna Bank Limited 2,650,642,070 2,102,061,116 United Commercial Bank Limited 2,700,000,000 5,067,558,046 Shahjalal Islami Bank Limited 467,400,000 1,688,522,131 AB Bank Limited 4,486,839,013 7,553,046,018 Trust Bank Limited 1,500,000,000 - National Bank Limited 5,428,569,615 7,668,456,029 Al-Arafah Islami Bank Limited 5,763,705,843 3,140,567,227 Social Islami Bank Limited 3,403,413,822 2,769,174,478 Janata Bank Limited 6,458,976,286 2,710,185,244 Uttara Bank Limited - 4,287,196,875 Rupali Bank Limited 11,531,160,625 2,495,225,000 Agrani Bank Limited 16,845,822,500 6,382,000,000 Bangladesh Krishi Bank 1,280,000,000 25,000,000 Bank Asia Limited - 2,250,000,000 Pubali Bank Limited - 200,000,000 Sonali Bank Limited 3,540,000,000 -

93,917,519,071 76,796,007,602

5.00 Investments Grameen Mutual Fund-One (Note 5.01) 263,000,000 263,000,000 Central Depository Bangladesh Limited (CDBL) (Note 5.02) 4,000,000 4,000,000

267,000,000 267,000,000

5.01 Net investment of Grameen Bank as sole sponsor of Grameen Mutual Fund (GMF)-One (scheme 1 & 2) stands at Tk. 26.30 crore consists of Tk. 0.65 crore of Scheme 1 and Tk. 25.65 crore of Scheme 2. The Scheme 1 & 2 of the fund were listed in both the Stock Exchanges of Dhaka and Chittagong as on 04 September 2005 & 02 September 2008 respectively. 325,000 (three lac twenty five thousand) and 292,500 (two lac ninety two thousand five hundred) of Grameen Mutual Fund (GMF)-One (scheme one) & 2,565,000 (twenty five lac sixty five thousand) and 4,232,250 (forty two lac thirty two thousand two hundred fifty) of Grameen Mutual Fund (GMF)-One (scheme two) bonus shares have also been received during the year 2011 & 2014 respectively.




5.02 400,000 (Four lac) shares of Central Depository Bangladesh Limited (CDBL) of Tk.10 each. 400,000 (four lac), 800,000 (eight lac) and 400,000 (four lac) total 1,600,000 (sixteen lac) bonus shares have also been received during the year 2009, 2010 & 2011 respectively.

Amount in Taka

2014 2013

5.03 Maturity grouping of investments

on demand - - up to 1 month - - Over 1 month but not more than 3 months - - Over 3 months but not more than 1 year - - Over 1 year but not more than 5 years - - Over 5 years 267,000,000 267,000,000

267,000,000 267,000,000

6.00 Loans and advances Loans Basic loans 76,400,114,183 73,969,465,186 Flexible loans 7,875,672,737 7,199,292,201 Housing loans (members) 25,717,689 32,555,452 Education loans 2,876,728,635 2,839,268,870 Center house building loans 89,538,778 100,580,158 Loans freeze 289,722 387,885 Other loans 55,279 403,913 Interest free loans-Sidr 11,312,630 11,627,689 Young entrepreneur loans 15,853,218 17,820,509 Social forestation loans 1,942,852 2,260,808 Interest free loans-Ayla 194,163,299 206,884,258

87,491,389,022 84,380,546,929 Advances Housing loans (staff) 910,770,582 714,623,783 Household commodities loans 1,201,923,284 815,154,248 Salary advances 24,868 25,900 Bicycle advances 14,671,004 15,163,387 Motor cycle advances 7,176,569 7,851,239 Calculator advances 172,489 188,719 Emergency housing advances - 6,440 Advances against PF 2,004,671,316 1,761,524,979 Medical loans 9,675,359 9,667,030 Staff welfare loans 2,842,038 2,414,541 Life jacket advances - 300

4,151,927,509 3,326,620,566

91,643,316,531 87,707,167,495

As disclosed in note 12.02, an aggregate provision of Tk. 9,938,202,988 (2013: Tk. 9,537,454,018) have been made against these loans and advances. So the loans and advances net of provision amounts to Tk. 81,705,113,543 (2013: Tk. 78,169,713,477).

During the year 2014, total loan of Tk. 2,377,444,653 (2013 : Tk. 1,856,349,316) have been written off from loans and advances.




Amount in Taka

2014 2013

6.01 Maturity grouping of loans and advances

Repayable on demand - - Up to 1 month 5,498,598,992 5,262,430,032 Over 1 month but not more than 3 months 10,997,197,984 10,524,860,063 Over 3 months but not more than 1 year 51,320,257,257 49,116,013,929 Over 1 year but not more than 5 years 21,994,395,967 21,049,720,256 Over 5 years 1,832,866,331 1,754,143,215

91,643,316,531 87,707,167,495

7.00 Fixed assets

Land 249,305,992 249,764,076 Building and other structures (Own) 1,010,196,557 962,859,532 Vehicles 24,364,282 17,739,128 Office equipment 11,405,757 9,874,218 Electrical equipment 19,688,421 18,987,323 Furniture and fixtures 75,731,444 87,233,585 Capital work in progress 29,560,805 55,177,634 Computer equipment 3,366,882 3,329,330 Mobile handset 3,907,368 3,769,837

(At cost less accumulated depreciation) (Annexure-A) 1,427,527,508 1,408,734,663

8.00 Investment property Administrative Building 10,467,300 10,781,759 Head Office Building 88,516,381 90,607,830

(At cost less accumulated depreciation) (Annexure-B) 98,983,681 101,389,589

9.00 Other assets Interest receivable (Note 9.01) 10,818,807,087 9,920,387,815 Printing stationery 26,753,412 32,838,877 Office stationery 330,766 510,856 Zone/Area control account - 566,254 Advance income tax (Note 9.02) 475,942,251 404,791,313 Inter-branch adjustments (Note 9.03) 24,455,633 16,424,714 Security deposits 574,924 1,227,915 Prepaid expenses 10,177,500 7,181,785 Advance against travelling - 12,600 Advance against purchases 3,410,972 3,127,001 Advance against house rent 2,280,875 2,299,354 Stock & stores (general) 2,087,877 1,161,120 Suspense account 192,948,962 175,117,938 Advances to contractors 318,406 3,180,106 Workshop 34,571 32,741 Rent and other receivables from tenants 12,309,630 11,715,815 Receivable due 374,737,235 1,745,416

11,945,170,101 10,582,321,620




Amount in Taka

2014 2013

9.01 Interest receivable

From fixed deposits: Fixed deposits with other banks 4,932,345,964 3,701,939,713

From Lending: Basic loans 1,129,421,339 1,398,492,015 Flexible loans 3,867,965,169 4,110,146,611 Housing loans (Members) 3,475,416 5,640,959 Education loans 190,002,764 110,703,429 Other loans 30,093 455,726 Interests freeze 15,828 36,235 Interests before loans freeze 3,027,839 3,100,092 Young entrepreneur loans 698,516 625,320 Social forestation loans 1,397,092 1,107,277 Interest free loans-Ayla 105,573,966 110,606,192

5,301,608,022 5,740,913,856 From Staff: Staff loans and advances 204,348,328 158,733,587 Advances against PF 219,829,901 187,882,940 Medical loans 2,267,269 2,146,151 Household commodities loans 158,407,603 128,771,568 584,853,101 477,534,246 10,818,807,087 9,920,387,815

During the year 2014, total interest receivables of Tk. 1,992,210,579 (2013 : Tk. 1,324,817,111) have been written off from interest receivables.

9.02 Advance income tax

Advance income tax represents tax deducted at source by Scheduled Banks and others from the income of Grameen Bank. Grameen Bank is a non-taxable entity as per Grameen Bank Ordinance 1983 and this status has been retained by the Grameen Bank Act, 2013. However, due to late receipts of the exemption orders from Government, Grameen Bank had faced such deduction. Hence, there are reasonable grounds to believe that such income tax deducted at source shall be refundable and accordingly shown as advance. On the otherhand, some amount of taxes were paid for 2012-2013 assessment year before the receipt of the exemption order and hence, the taxes already paid were shown as advance tax for the year.

9.03 Inter-branch adjustments

Inter-branch adjustment account balance Tk. 24,455,633 represents outstanding in branch and zonal office, zonal office and central accounts, zonal audit office and central accounts, head Office accounts and central accounts transactions (Net) originated but not responded at the balance sheet date. However, unadjusted items are being subsequently adjusted.

9.04 Maturity grouping of other assets

on demand - - Up to 1 month 238,903,402 211,646,432 Over 1 month but not more than 3 months 1,433,420,413 1,269,878,595 Over 3 months but not more than 1 year 3,225,195,927 2,857,226,837 Over 1 year but not more than 5 years 5,255,874,844 4,656,221,513 Over 5 years 1,791,775,515 1,587,348,243

11,945,170,101 10,582,321,620




Amount in Taka

2014 2013

10.00 Borrowings from bank and other institutions

2% IFAD 239 BA (Note 10.01) 198,552,695 206,825,724 Norwegian Agency for International Development (NORAD) (Note 10.02) 267,918,176 267,918,176 Swedish International Development Authority (SIDA) (Note 10.03) 238,848,625 238,848,625 Dutch Grant Loan (Note 10.04) 44,283,298 44,283,298 Japan International Co-operation Agency (JICA) (Note 10.05) 591,193,078 644,977,982

1,340,795,872 1,402,853,805

10.01 2% IFAD 239 BA

A subsidiary loan agreement for an amount in taka equivalent of SDR 6,200,000 was made with Government of the Peoples’ Republic of Bangladesh on 8 January 1990. The loan received in 1990 and 1992 is repayable on 15 March and 15 September each year in 80 equal semi-annual installments commencing on 15 March 1999 and ending on 15 September 2039.

10.02 Norwegian Agency for International Development (NORAD)

A subsidiary loan agreement for an amount in Taka equivalent of Norwegian Kroner 55,000,000 was made with Government of the Peoples’ Republic of Bangladesh on 4th August 1986. The principal loan received in 1986 is repayable with interest rate 2% per annum in March and September each year in 40 equal semi-annual installments during a period of 30 years including a grace period of 10 years where the first installment was commenced in March 1997. Up to 31st December 2014, an amount of Tk 224,922,295.86 was repaid into 36 (thirty six) installments in due time and Grameen Bank received the same as revolving loan as per bilateral agreement with the Government.

10.03 Swedish International Development Authority (SIDA)

A subsidiary loan agreement for an amount in Taka equivalent of SEK 60,000,000 was made with Government of the Peoples’ Republic of Bangladesh on 30th November 1986. The principal loan received in 1986 is repayable with interest rate 2% per annum in March and September each year in 40 equal semi-annual installments during a period of 30 years including a grace period of 10 years where the first installment was commenced in March 1997. Up to 31st December 2014, an amount of Tk.206,787,728.92 was repaid into 36 (thirty six) installments in due time and Grameen Bank received the same as revolving loan as per bilateral agreement with the Government.

10.04 Dutch Grant Loan

The loan of DFL 2,000,000 equivalent of Tk. 44,283,298 received in 1986 under a subsidiary loan agreement with Bangladesh Bank is repayable on 15 December each year in 15 equal annual installments within 16 years from the date of receiving the loan including a grace period of one year. As per section 11 of the loan agreement the amount of installments of the principal loans amount repaid by Grameen Bank is allowed to be used in perpetuity for financing its housing loan scheme on the same terms and condition as stated above.

10.05 Japan International Co-operation Agency (JICA)

A subsidiary loan agreement for an amount of Taka equivalent of Yen 2,986,000,000 was executed with the Government of the Peoples’ Republic of Bangladesh on 7 March 1996. The loan is repayable on 15 March and 15 September each year with the interest rate of 2% per annum in semi-annual installments in 30 years including a grace period of 10 years in accordance with amortization schedule, first installments being due on 15 September 2005. Up to 31 December 2014, an amount of Tk. 510,956,582.87 was repaid by 19 (Nineteen) installments in due time. Tk. 393,133,462,Tk. 419,216,041 and Tk. 289,800,159 were received in 1996, 1997 and 1998 respectively.




Amount in Taka

2014 2013

10.06 Maturity grouping of borrowings from banks and other institutions

Repayable on demand - - up to 1 month - - Over 1 month but not more than 3 months 31,028,966 31,028,966 Over 3 months but not more than 1 year 62,057,932 62,057,932 Over 1 year but not more than 5 years 310,289,660 310,289,660 Over 5 years 937,419,314 999,477,247

1,340,795,872 1,402,853,805

11.00 Deposits and other funds Members deposits Current deposit 11,321,172 12,030,904 Fixed deposit (Note 11.01) 112,609,724 103,698,822 Savings deposit 15,387,561,406 12,788,171,335 Grameen pension scheme-10 years (Note 11.02) 72,974,430,601 64,019,744,040 Double in 7 years deposit (Note 11.03) 5,756,001,734 4,789,481,015 Double in 8 years deposit (Note 11.04) 1,104,230,884 959,852,637 Monthly profit scheme (Note 11.05) 185,000,000 178,523,000 Polly phone deposit 429,398 466,632 Centre welfare fund 889,935,525 819,237,737 Central emergency fund 109,447,299 109,447,299 Loan insurance savings fund 8,680,656,416 8,115,264,257 Grameen pension scheme-5 years 566,656,040 235,990,004 Young entrepreneur loan insurance savings fund 1,441,682 1,265,717 Higher education loan insurance savings fund 83,018,887 77,833,424

105,862,740,768 92,211,006,823 Non-members deposits Current deposit 51,355,997 32,804,153 Short term deposit - 298 Fixed deposit 465,791,031 507,255,919 Savings deposit 35,432,483,316 29,184,656,503 Grameen pension scheme-10 years (for staff) 1,313,031,714 1,101,593,355 Double in 7 years deposit 21,009,592,659 20,006,075,400 Double in 8 years deposit 2,245,539,490 1,834,415,451 Monthly profit scheme 3,431,242,000 3,513,023,000 Technology project deposit 14,827 14,827 Forestation fund 20,925,602 18,428,338 Grameen pension scheme-5 years (for staff) 517,113 203,880 Employees loan insurance savings fund 168,079,758 136,476,170 64,138,573,507 56,334,947,294 Term-wise total deposits Current deposits 62,677,169 44,835,057 Savings deposits 50,820,044,722 41,972,827,838 Term deposits 109,164,642,990 97,249,856,523 Others deposits 9,953,949,394 9,278,434,699 170,001,314,275 148,545,954,117




Amount in Taka

2014 2013

Other funds Employees welfare fund 282,756,347 247,781,799 Struggling members welfare fund 63,392,778 58,295,974 Award funds 150,906,633 139,523,916 Maintenance reserve 75,192,373 69,646,811 Cafeteria 1,964,266 1,858,031 Contingency fund (Note 11.06) 662,736,332 571,640,889 Byabosa Bikash risk coverage fund 5,253,595 6,694,884 Risk fund-Grameen Byabosa Bikash 69,219,823 58,267,086 Deposit for Grameen Byabosa Bikash risk loan 2,104,107 2,104,107 House building revolving fund 3,338,209 2,988,828 Young entrepreneur loan risk fund 1,032,305 859,992 Higher education loan insurance fund 37,095,819 28,476,926 Vehicle insurance fund 4,410,208 3,309,159 Employees loan insurance fund 47,691,377 45,104,544 Loan insurance fund 2,295,785,314 2,248,528,117 Animal insurance fund 121,755,130 225,075,528 Grameen Bank disaster relief fund 2,168,884 2,168,884 Members welfare fund 2,540,095 2,540,095 Polly phone risk coverage fund 24,239,779 21,188,018 Revolving fund-special programme 7,850,940 7,886,040 Revolving fund-SIDE 16,476,555 16,476,555 Rehabilitation fund (Note 11.07) 2,053,595,270 2,050,647,057 SVCF-Current Account 759,306 759,306

Restated balance (see note # 30) 5,932,265,445 5,811,822,546

175,933,579,720 154,357,776,66311.01 Fixed deposit

Grameen Bank started “fixed deposit scheme” vide its circular no. 02/2000 dated 16 May 2000 which is for minimum of 1 year and maximum of 3 years. Interest rates of fixed deposits are 8.75%, 9.25% and 9.50% for 1 year, 2 years and 3 years respectively. Depositors can get interest after matured date of fixed deposit.

11.02 Grameen pension scheme

Grameen Bank Started “ Grameen pension scheme” of 5 years and 10 years vide its circular no. 2-06/2000 dated 30 August 2000 for the financial assurance of their members and employees. Under this scheme Grameen Bank motivates their members and employees to small savings by opening “GPS Account” in the respective branches which rate of interest is 10% for 5 years and 12% for 10 years. Both are payable yearly basis.

11.03 Double in 7 years deposit

Grameen Bank started “Double in 7 years deposit” scheme vide its circular no. 2-07/2000 dated 30 August 2000 for making financial strengths of rural civil society by increasing saving mentality. Any person can open his/her account by depositing minimum of Tk. 1,000.00 (One thousand) or its general multiplying amount for 7 years. After 7 years account holder for carrying his/her account fulfilling the all criteria will get double amount (consolidated principal and interest) of his/her investment.

11.04 Double in 8 years deposit

Grameen Bank started “Double in 8 years deposit” scheme vide its circular no. 2-10/2010 dated 28 November 2010 for making financial strengths of rural civil society by increasing saving mentality. Any person can open his/her account by depositing minimum of Tk. 1,000.00 (One thousand) or its general multiplying amount for 8 years. After 8 years account holder for carrying his/her account fulfilling the all criteria will get double amount (consolidated principal and interest) of his/her investment.




11.05 Monthly profit scheme

In 2001, Grameen Bank has introduced a term deposit product named ‘Monthly Profit Scheme’ with tenure of 5 and 10 years vide its circular no. 2-07/2001 dated 05 March 2001. This deposit scheme is open for both Members & Non-Members with a minimum deposit amount of Tk. 20,000.00. For each amount of Tk. 10,000.00 Grameen Bank pays Tk. 80.00 and Tk. 85.00 per month for 5 and 10 years scheme respectively.

11.06 Contingency fund

Grameen Bank has created “ Contingency Fund” to cover the loss (if any) arises from counterfeit, theft, lost, assault, robbery etc.

Amount in Taka

2014 2013

11.07 Rehabilitation fund

Opening Balance 2,050,647,057 2,049,967,394 Payment during the year - (3,060,000) Reimbursement during the year 2,948,213 3,739,663

2,053,595,270 2,050,647,057

11.08 Maturity grouping of deposits and other funds

Repayable on demand - - Up to 1 month 7,097,513,271 6,217,353,007 Over 1 month but not more than 3 months 26,380,635,383 23,146,941,196 Over 3 months but not more than 1 year 73,865,779,072 64,811,435,349 Over 1 year but not more than 5 years 47,485,143,688 41,664,494,154 Over 5 years 21,104,508,306 18,517,552,957

175,933,579,720 154,357,776,663

12.00 Other liabilities

Interest payable on borrowings 7,693,138 8,060,385 Interest sundry 7,852,420 7,945,854 Bill or other payable 249,951,626 313,985,916 PF trustee board-current account 1,111,383 1,064,837 Contributory provident fund 160,758 219,878 Accounts for other institutions (Note 12.01) 456,382 799,059 GB superannuation fund-current account 781,135,905 721,565,916 Retention money 1,158,977 1,856,084 Earnest money 2,960,353 2,798,423 Claimable deposits 146,032,151 126,294,350 Unpaid salary 811,539 736,855 VAT deducted at source 58,462 189,024 Sundry receipts 1,240,665 1,332,367 Farewell grant provision for daily basis workers 264,700,000 416,351,218 Sundry Miscellaneous 245,957,598 247,966,055 Advance house rent 2,555,897 2,555,897 Struggling members programme 21,338,512 21,039,079 Provision reserve for doubtful rents 7,130,305 130,305 Reserve of bad debt recovery 1,363,704,916 1,363,704,916 Provision reserves (Note 12.02) 9,938,202,988 9,537,454,018

13,044,213,975 12,776,050,436




Amount in Taka

2014 2013

12.01 Accounts for other institutions

Grameen Telecom 1,000 1,000 Grameen Communications 57,482 1,927 Grameen Shikkha 392,900 791,132 Grameen Krishi Foundation 4,000 4,000 Grameen Shamogree 1,000 1,000

456,382 799,059

12.02 Provision reserves

Specific provision against loans & advances and interest receivable (12.02.01) 5,682,449,132 8,792,037,436 General provision against loans & advances and interest receivable (12.02.02) 4,255,753,856 745,416,582

9,938,202,988 9,537,454,018

The general provision has been calculated on the basis of historical experience to cover loans that are impaired but not yet identified, and accordingly provision has been made.

12.02.01 Total specific provision against loans & advances and interest receivable

Specific provision against loans & advances (a) 3,464,663,912 5,661,116,686Specific provision against interest receivable (b) 2,217,785,220 3,130,920,750

5,682,449,132 8,792,037,436a) Specific provision against loans & advances Basic and flexible loans (100%) 3,257,341,444 5,440,779,340 Housing loans 1,411,065 1,591,946 Freeze loans-for Sidr (Patuakhali & Pirojpur) 11,312,630 11,627,689 Young entrepreneur loans 435,474 233,453 Freeze loans-for Ayla (Patuakhali & Khulna) 194,163,299 206,884,258

3,464,663,912 5,661,116,686b) Specific provision against interest receivable Basic and flexible loans (100%) 2,108,301,349 3,015,573,778 Housing loans 717,283 1,001,418 Freeze interests-for Sidr (Patuakhali & Pirojpur) 3,027,840 3,294,533 Young entrepreneur Loans 164,782 117,297 Freeze interests-for Ayla (Patuakhali & Khulna) 105,573,966 110,933,724

2,217,785,220 3,130,920,750

12.02.02 Total general provision against loans & advances and interest receivable

Regular Basic loans & interests 768,495,944 744,702,814Regular flexible loans (50%) 2,567,431,297 - Regular flexible loan interests (50%) 919,253,952 - Regular Housing loans & interests 348,171 466,754Regular young entrepreneur loans 219,404 242,398Regular young entrepreneur loan Interests 5,088 4,616

4,255,753,856 745,416,582




Amount in Taka

2014 2013

12.03 Maturity grouping of other liabilities

Repayable on demand - - Up to 1 month 1,695,747,817 1,660,886,557 Over 1 month but not more than 3 months 32,204,250 59,511,852 Over 3 months but not more than 1 year 3,489,733,523 3,449,533,618 Over 1 year but not more than 5 years 7,826,528,385 7,606,118,409 Over 5 years - - 13,044,213,975 12,776,050,43613.00 Share capital

13.01 Authorized

100,000,000 ordinary shares of Tk. 100 each 10,000,000,000 10,000,000,000

13.02 Paid up Capital

7,962,400 ordinary shares of Tk. 100 each issued for cash 796,240,000 734,049,100

Shareholders for year ended December 2014 % No. of Shares Nominal Value of sharesGovernment of Bangladesh 23.70% 1,887,000 188,700,000 144,000,000Sonali Bank 0.38% 30,000 3,000,000 3,000,000Bangladesh Krishi Bank 0.38% 30,000 3,000,000 3,000,000

24.45% 1,947,000 194,700,000 150,000,000Borrowers :Male 2.35% 186,681 18,668,100 18,535,400Female 73.20% 5,828,719 582,871,900 565,513,700Total 100% 7,962,400 796,240,000 734,049,100

As per section 7 of the Grameen Bank Act, 2013 the paid-up share capital of Grameen Bank shall be Tk. 3,000 million which shall be paid @ 25% by the Government or its controlled entity and remaining 75% by Grameen Bank’s borrowers (shareholders). Grameen Bank has informed the Government about its existing shareholding ratio.

13.03 Capital Adequacy Ratio

Tire-I (Core capital) Paid up capital 796,240,000 734,049,100 Capital & other reserves 8,377,973,198 8,327,197,401 Retained surplus 1,468,648,567 1,338,648,567 10,642,861,765 10,399,895,068 Tire-II (Supplementary capital) General provision 4,255,753,856 745,416,582 Reserve of bad debt recovery 1,363,704,916 1,363,704,916 5,619,458,772 2,109,121,498

Total capital (A) 16,262,320,537 12,509,016,566 Total assets 200,961,451,332 178,936,575,972 Total Risk Weighted Assets (RWA) (B) 152,672,392,734 138,876,246,845` Required capital based on Risk Weighted Assets (10% of RWA) - (C) 15,267,239,273 13,887,624,684 Core capital (Tire-I) 10,642,861,765 10,399,895,068 Supplementary capital (Tire-II) 5,619,458,772 2,109,121,498 Total 16,262,320,537 12,509,016,566 Surplus/(Shortage)-(A-C) 995,081,264 (1,378,608,118) Capital to Risk-Weighted Assets (A/B) 10.65% 9.01%




Amount in Taka

2014 2013

14.00 Capital and other reserves Capital reserves (Note 14.01) 3,765,914,839 3,765,914,839 General reserve 3,134,000,000 3,084,000,000 Proposed dividend 238,872,000 220,214,730 Dividend equalization fund 1,225,780,743 1,243,662,216 Other reserves (Note 14.02) 13,405,616 13,405,616 Restated balance (see note # 30) 8,377,973,198 8,327,197,401

14.01 Capital reserves Revolving fund (Note 14.01.01) 3,732,311,704 3,732,311,704 Grants (figures of 2013 that is 01.01.2013 restated, see note # 30) 13,503,135 13,503,135 MED revolving fund 20,100,000 20,100,000

Restated balance (see note # 30) 3,765,914,839 3,765,914,839

Capital reserve includes outstanding balances of revolving funds and grant as at 31 December 2011 which are no longer refundable.

14.01.01 Revolving fund Revolving fund for G & C 1,544,811,573 1,544,811,573 Revolving fund for house loan 2,065,346,276 2,065,346,276 Revolving fund for staff house loan 122,153,855 122,153,855

3,732,311,704 3,732,311,704

14.02 Other reserves

Training reserve fund 3,017,748 3,017,748 Training revolving fund 10,387,868 10,387,868

Restated balance (see note # 30) 13,405,616 13,405,616

15.00 Retained surplus

Balance on 01 January (figures of 2013 restated, see note # 30) 1,338,648,567 1,193,648,567 Net profit 436,011,243 1,332,898,748 Dividend equalization fund - (250,000,000) Proposed dividend (238,872,000) (220,214,730) General reserve (50,000,000) (700,000,000) Employee welfare fund (17,139,243) (17,684,018) Balance on 31 December 1,468,648,567 1,338,648,567 Add/ (Less): Prior year’s adjustment - - Balance at 31 December 1,468,648,567 1,338,648,567

Tax deductible at source on dividend paid to shareholders were paid, in line with the decision of the board, to keep the full dividend at the hand of the recipient.

16.00 Interest income Loans and advances (Note 16.01) 17,318,258,416 16,634,190,356 Deposits (Note 16.02) 9,740,887,129 9,335,466,743

27,059,145,545 25,969,657,099




Amount in Taka

2014 2013

16.01 Interest on loans and advances

Members loan Basic loans 15,104,387,956 14,618,944,296 Flexible loans 1,478,535,144 1,412,590,017 Housing loans 2,162,394 2,614,635 Education loans 343,883,840 283,941,361 Young entrepreneur loans 3,631,981 2,995,518 Social forestation loans 410,107 513,374 16,933,011,422 16,321,599,201 Employees Advances Staff loans & advances 66,314,048 54,002,283 Advance against PF 182,949,357 161,535,858 Household commodities loans 135,000,012 95,991,362 Medical loans 983,577 1,061,652 385,246,994 312,591,155 17,318,258,416 16,634,190,356

16.02 Interest on deposits

Short term deposits (STD) 40,355,738 36,815,229 Fixed deposits 9,700,531,391 9,298,651,514

9,740,887,129 9,335,466,743

17.00 Interest/profit paid on deposits and borrowings etc.

Interest on deposits (Note 17.01) 14,980,218,456 13,604,487,325 Interest on borrowings (Note 17.02) 27,256,152 29,306,092

15,007,474,608 13,633,793,41717.01 Interest on deposits

Members deposit (Note 17.01.01) 9,951,802,794 8,988,396,025 Non-Members deposit (Note 17.01.02) 4,929,970,957 4,530,211,268 Others (Note 17.01.03) 98,444,705 85,880,032 14,980,218,456 13,604,487,325

17.01.01 Members deposit Fixed deposit 7,958,461 10,581,484 Savings deposit 1,007,435,340 878,947,972 Central emergency fund 11,736,698 11,735,668 Centre welfare fund 69,180,750 63,588,454 Polly phone deposit 56,720 37,077 Grameen pension scheme-10 years 7,322,899,957 6,358,652,958 Double in 7 years deposit 524,423,169 408,678,715 Double in 8 years deposit 79,005,242 82,338,664 Monthly profit scheme 18,997,099 18,807,256 Loan insurance savings fund 713,149,124 940,336,970 Loan insurance fund 160,789,544 186,369,588 Grameen pension scheme-5 years 26,783,541 17,209,349 Young entrepreneur loan insurance savings fund 129,972 150,391 Higher education loan insurance savings fund 6,861,978 8,849,915 Higher education loan insurance fund 2,395,199 2,111,564 9,951,802,794 8,988,396,025




Amount in Taka

2014 2013

17.01.02 Non-members deposit Fixed deposit 40,852,089 47,337,579 Savings deposit 2,194,106,293 1,948,458,098 Grameen pension scheme-10 years (for staff) 129,069,575 109,753,842 Double in 7 years deposit 2,047,861,606 1,901,087,951 Double in 8 years deposit 156,848,825 155,560,908 Monthly profit scheme 346,092,546 351,191,880 Grameen pension scheme-5 years (for staff) 24,440 11,960 Employees loan insurance savings fund 13,312,662 15,528,784 Forestation and other funds 1,455,094 1,021,023 Vehicle insurance fund 347,827 259,243 4,929,970,957 4,530,211,268

17.01.03 Others Contingency fund 48,589,526 41,530,029 Struggling member welfare fund 4,956,765 4,564,478 Employees’ welfare fund 20,958,786 18,100,219 GB superannuation fund-current account 11,600,934 10,225,971 PF trustee board-current account - 37,739 Award funds 12,137,717 11,238,684 Accounts of other institutions 19,110 11,388 Cafeteria 150,615 143,089 Contributory provident fund 31,252 28,435 98,444,705 85,880,032

17.02 Interest on borrowings

2% IFAD 239 BA 4,045,851 4,211,992 NORAD 5,357,881 5,358,072 SIDA 4,776,534 4,776,687 JICA 12,310,136 13,390,255 Interest on short term loans 322,917 1,126,528 Dutch grant loan 442,833 442,558 27,256,152 29,306,09218.00 Other income Service charges 36,384,799 36,932,858 Bad debts recovery 627,032,854 388,978,677 Rent receipts 84,076,663 73,442,357 Polly phone service charge receipts 161,376,838 153,077,579 Sale proceeds of old newspapers 912,768 922,676 Income from health program 33,080 43,873 Sale proceeds of tender forms 130,300 304,100 Miscellaneous receipts (Note 18.01) 1,048,756,225 555,014,687

1,958,703,527 1,208,716,80718.01 Miscellaneous receipts

Profit on sale of fixed assets 1,007,759 1,291,671 Income from Training and publication 2,886,820 3,416,524 Income from closed accounts 649,645,842 541,837,425 Income from ROSA programme 357,893 651,800 Others 394,857,911 7,817,267

1,048,756,225 555,014,687




Amount in Taka

2014 2013

19.00 Salaries and other related expenses Salaries 2,294,932,629 2,197,836,008 Leave encashment 67,093,670 58,627,379 Personal allowances 14,129 12,000 Dearness allowances 472,282,009 229,033,205 House rent allowances 981,773,852 933,366,169 Medical allowances 160,919,395 158,619,761 Conveyance allowances 164,257,966 164,863,992 Washing allowances 309,009 364,114 Contribution to PF 29,814 24,479 Overtime 6,671,610 6,381,880 Watch and ward allowances 71,429 66,181 Hill allowances 5,836,932 5,556,918 Education assistance allowances 23,173,395 20,091,662 Festival & incentive bonus 591,859,971 540,914,540 Superannuation fund 1,371,314,205 1,300,893,732

6,140,540,015 5,616,652,020

20.00 Rent, rates, taxes, vehicle insurance, utilities etc.

Rent, rates & taxes 135,814,237 124,929,996 Insurance (vehicle) 134,441 171,234 Water, electricity & gas 37,900,341 36,825,365

173,849,019 161,926,595

21.00 Legal, professional fees and others Legal fees 1,231,247 1,656,282 Professional fees 230,000 60,500 Temporary help (Tax advisor’s honorarium & others) 103,500 103,500 Wages for daily basis workers 287,390,234 271,653,174 Security service 3,567,300 2,784,517 Cleaning and messenger service 8,082,997 8,017,069

300,605,278 284,275,04222.00 Auditors’ fees

Statutory audit 1,495,000 1,522,300 Special audit 69,000 86,250

1,564,000 1,608,55023.00 Stationery, printing, advertisement etc. Printing & stationery Printing stationery 74,079,275 67,662,526 Work aid 17,119,895 16,589,121 Printing & photocopy 13,927,713 13,608,821 Office stationery 22,773,450 22,501,705

127,900,333 120,362,173 Publication & advertisement 2,000,671 228,500

129,901,004 120,590,673




Amount in Taka

2014 2013

24.00 Repairs and maintenance of fixed assets Property & assets 36,902,801 28,423,920 Vehicles 21,412,576 19,426,044 Office, electric, computer & mobile handset 7,023,311 6,119,114

65,338,688 53,969,07825.00 Other expenses Traveling & conveyance expenses 112,568,740 107,703,086 Postage, telegram and telephone 18,250,830 17,813,526 Entertainment 15,828,516 14,897,440 Liveries and uniform 444,795 470,440 Washing expenses 6,858,695 5,184,759 Welfare and recreation 88,858,909 84,734,011 Books and journals 31,070 17,460 IT expenses 346,920,526 345,408,455 Bank charges 28,573,708 32,415,488 Expense for contingency fund 43,745,695 42,190,273 Training expenses 4,729,529 7,186,380 Special programme 437,026 452,045 Seminar & conference 666,980 746,070 Film and development 2,288,188 183,185 Lunch subsidy 895,359,833 884,942,365 Income tax expense on salaries 30,523,512 17,012,169 Group insurance 9,813,687 12,384,243 Vehicle insurance 732,560 723,967 Holiday work allowance 1,230,651 1,201,914 Assistance for festival & Special subsidy 7,745,222 7,550,669 Felicitation allowance 186,418,820 176,136,221 Miscellaneous expenses 131,818,441 71,379,447

1,933,845,933 1,830,733,61326.00 Provision for loans and advances

Total specific provision for loans & advances and interest receivable 4,847,858,342 4,076,739,669 Specific provision for loans and advances (Note 26.01) 2,602,518,044 2,139,340,365 Specific provision for interest receivable (Note 26.02) 2,245,340,298 1,937,399,304 Total general provision for loans & advances and interest receivable (77,454,142) 35,339,455

General provision for Regular flexible loan (50%) 140,343,537 - General provision for Regular flexible loan interest (50%) (241,676,792) - General provision for regular basic loans 23,792,574 35,341,137 General provision for regular housing loans 105,675 (41,193) General provision for regular young entrepreneur loans (21,282) 41,453 General provision for regular young entrepreneur interests 2,146 (1,942)

4,770,404,200 4,112,079,12426.01 Provision for loans and advances (for specific)

Basic and Flexible loans 2,600,893,961 2,138,594,896 Housing loans 1,422,062 853,804 Young entrepreneur loans 202,021 (108,335)

2,602,518,044 2,139,340,365




Amount in Taka

2014 2013

26.02 Provision for interest receivable (for specific)

Basic and Flexible loans 2,243,858,883 1,936,146,255 Housing loans 1,433,930 1,253,838 Young entrepreneur loans 47,485 (789) 2,245,340,298 1,937,399,304

Amount in Taka Increase/Decrease

2014 2013 Taka

27.00 Other assets

Printing stationery 26,753,412 32,838,877 (6,085,465) Office stationery 330,766 510,856 (180,090) Zone/Area control account - 566,254 (566,254) Advance income tax 475,942,251 404,791,313 71,150,938 Inter-branch adjustments 24,455,633 16,424,714 8,030,919 Security deposits 574,924 1,227,915 (652,991) Prepaid expenses 10,177,500 7,181,785 2,995,715 Advance against travelling - 12,600 (12,600) Advance against purchases 3,410,972 3,127,001 283,971 Advance against house rent 2,280,875 2,299,354 (18,479) Stock & stores (general) 2,087,877 1,161,120 926,757 Suspense account 192,948,962 175,117,938 17,831,024 Advances to contractors 318,406 3,180,106 (2,861,700) Workshop 34,571 32,741 1,830 Rent and other receivables from tenants 12,309,630 11,715,815 593,815 Receivable due 374,737,235 1,745,416 372,991,819

1,126,363,014 661,933,805 464,429,20928.00 Other liabilities

Bills payable 249,951,626 313,985,916 (64,034,290) PF trustee board-current account 1,111,383 1,064,837 46,546 Contributory provident fund 160,758 219,878 (59,120) Accounts for other institutions 456,382 799,059 (342,677) GB superannuation fund-current account 781,135,905 721,565,916 59,569,989 Retention money 1,158,977 1,856,084 (697,107) Earnest money 2,960,353 2,798,423 161,930 Claimable deposits 146,032,151 126,294,350 19,737,801 VAT deducted at source 58,462 189,024 (130,562) Sundry receipts 1,240,665 1,332,367 (91,702) Farewell grant provision for daily basis staff 264,700,000 416,351,218 (151,651,218) Sundry Miscellaneous 245,957,598 247,966,055 (2,008,457) Advance house rent 2,555,897 2,555,897 - Struggling members programme 21,338,512 21,039,079 299,433 Provision reserve for doubtful rents 7,130,305 130,305 7,000,000 Reserve of bad debt recovery 1,363,704,916 1,363,704,916 - Provision reserves 9,938,202,988 9,537,454,018 400,748,970

13,027,856,878 12,759,307,342 268,549,536 Total provisions for loans and advances (4,770,404,200)

(4,501,854,664)




Amount in Taka

2014 2013

29.00 Cash and bank balances at the end of the period

Cash in hand 1,822,748 2,142,260 Balances with Bangladesh Bank 1,934,807 13,664,359 Balances with other banks and financial institutions 1,658,176,885 2,058,148,384

1,661,934,440 2,073,955,003

30.00 Restatement

In order to comply with Bangladesh Accounting Standards (BAS-8) “Accounting Policies, Changes in Accounting Estimates and Errors”, the following items were restated:

note Amount in Taka

31. 12. 2014 31. 12. 2013 01. 01. 2013

Other funds 11 Employees welfare fund 282,756,347 247,781,799 213,563,174 Struggling members welfare fund 63,392,778 58,295,974 53,673,476 Award funds 150,906,633 139,523,916 129,040,232 Maintenance reserve 75,192,373 69,646,811 62,866,166 Cafeteria 1,964,266 1,858,031 1,870,892 Leasing insurance fund - - 5,612,440 Contingency fund 662,736,332 571,640,889 488,565,697 Byabosa Bikash risk coverage fund 5,253,595 6,694,884 7,677,152 Risk fund-Grameen Byabosa Bikash 69,219,823 58,267,086 52,177,646 Deposit for Grameen Byabosa Bikash risk loan 2,104,107 2,104,107 772,458 House building revolving fund 3,338,209 2,988,828 2,561,155 Young entrepreneur loan risk fund 1,032,305 859,992 686,115 Higher education loan insurance fund 37,095,819 28,476,926 17,789,681 Vehicle insurance fund 4,410,208 3,309,159 2,280,117 Employees loan insurance fund 47,691,377 45,104,544 34,040,242 Loan insurance fund 2,295,785,314 2,248,528,117 1,886,286,380 Animal insurance fund 121,755,130 225,075,528 181,188,837 Grameen Bank disaster relief fund 2,168,884 2,168,884 2,168,884 Members welfare fund 2,540,095 2,540,095 2,540,095 Polly phone risk coverage fund 24,239,779 21,188,018 17,779,099 Revolving fund-special programme 7,850,940 7,886,040 7,912,617 Revolving fund-SIDE 16,476,555 16,476,555 16,476,555 Rehabilitation fund 2,053,595,270 2,050,647,057 2,049,967,394 SVCF-Current Account 759,306 759,306 759,306

Total balance 5,932,265,445 5,811,822,546 5,238,255,810 Add/ (Less): Prior year’s adjustment - - 5,612,440

Restated balance 5,932,265,445 5,811,822,546 5,232,643,370




note Amount in Taka

31. 12. 2014 31. 12. 2013 01. 01. 2013

Capital and other reserves 14 Capital reserves (Note 14.01) 3,765,914,839 3,765,914,839 3,765,914,839 General reserve 3,134,000,000 3,084,000,000 2,384,000,000 Proposed dividend 238,872,000 220,214,730 179,397,300 Dividend equalization fund 1,225,780,743 1,243,662,216 1,011,421,946 Other reserves (Note 14.02) 13,405,616 13,405,616 13,405,616

8,377,973,198 8,327,197,401 7,354,139,701

Capital reserves 14.01 Revolving fund (Note 14.01.01) 3,732,311,704 3,732,311,704 3,732,311,704 Grants (Restated) 13,503,135 13,503,135 13,503,135 MED revolving fund 20,100,000 20,100,000 20,100,000 Restated balance 3,765,914,839 3,765,914,839 3,765,914,839

Grants Revolving fund for training 4,457,037 4,457,037 4,457,037 Revolving fund for MED 4,220,479 4,220,479 4,220,479 Revolving fund for housing rehebilitation 4,825,619 4,825,619 4,825,619 Revolving fund from F.F. - - 4,572,215 Revolving fund from G.T.Z. - - 44,218,527 Revolving fund from K.F.W. - - 6,726,995 Revolving fund from NORAD - - 13,713,046 Revolving fund for R&D - - 1,185,015 Grants - - 470,252,643

13,503,135 13,503,135 554,171,576 Add/ (Less): Prior year’s adjustment - - 540,668,441 Restated balance 13,503,135 13,503,135 13,503,135

Other reserves 14.02 Training reserve fund 3,017,748 3,017,748 3,017,748 Training revolving fund 10,387,868 10,387,868 10,387,868 Special reserve - - 992,043 Special programme sundry deposit - - 19,020,038 Publication fund - - 2,807,045 SIDE fund revolving account - - 3,238,095 Special programme GTZ - - 26,612,521 Assets replacement reserve - - 49,697,943

Total balance 13,405,616 13,405,616 115,773,301 Add/ (Less): Prior year’s adjustment* - - 102,367,685

Restated balance 13,405,616 13,405,616 13,405,616




note Amount in Taka

31. 12. 2014 31. 12. 2013 01. 01. 2013

Retained surplus 15 Opening balance 1,338,648,567 1,193,648,567 545,000,000 Net profit 436,011,243 1,332,898,748 - Dividend equalization fund - (250,000,000) - Proposed dividend (238,872,000) (220,214,730) - General reserve (50,000,000) (700,000,000) - Employee welfare fund (17,139,243) (17,684,018) -

Total balance 1,468,648,567 1,338,648,567 545,000,000 Add/ (Less): Prior year’s adjustment - - 648,648,567

Restated balance 1,468,648,567 1,338,648,567 1,193,648,567

Out of the above Funds & Reserves, 1. Leasing insurance fund, 2. Revolving fund from F.F., 3. Revolving fund from G.T.Z., 4. Revolving fund from K.F.W. 5. Revolving fund from NORAD, 6. Revolving fund for R&D, 7. Grants, 8. Special reserve, 9. Special programme sundry deposit, 10. Publication fund, 11. SIDE fund revolving account, 12. Special programme G.T.Z., and 13. Assets replacement reserve are non-functional and non-operative since long. These belong to Grameen Bank and have no third party liabilities. Therefore, these are transferred to Retained Surplus and are duly restated.






Annexure-A

Category of Assets

COST PRICE

Rate of Dep. (%)

DEPRECIATION WDV

Balance on January 1, 2014

Additions during the year

Disposals/ adjustments during the year

Balance at December 31, 2014


Charge during the year

Disposals/ Adjustments during

the year



Taka Taka Taka Taka Taka Taka Taka Taka Taka

land 249,764,076 25,776 483,860 249,305,992 - - - - - 249,305,992

Building & other

structures (Own Property) 1,247,961,550 69,288,622 38,600 1,317,211,572 1.7% 285,102,018 21,936,557 23,560 307,015,015 1,010,196,557

Development of leasehold property 987,576 - - 987,576 10% 987,576 - - 987,576 -

Vehicles 159,339,845 17,355,459 8,090,289 168,605,015 20% 141,600,717 7,881,214 5,241,198 144,240,733 24,364,282

Computer equipment 35,545,575 854,150 1,344,243 35,055,482 30% 32,216,245 825,160 1,352,805 31,688,600 3,366,882

Office equipment 114,446,707 4,416,854 (336,453) 119,200,014 15% 104,572,489 2,893,047 (328,721) 107,794,257 11,405,757

Electric equipment 79,459,391 5,575,550 4,460,083 80,574,858 10% 60,472,068 3,893,911 3,479,542 60,886,437 19,688,421

Furniture & fixtures 278,366,291 9,974,279 1,753,097 286,587,473 10% 191,132,706 20,931,290 1,207,967 210,856,029 75,731,444

Capital work in progress 55,177,634 22,945,992 48,562,821 29,560,805 - - - - - 29,560,805

Mobile handset 17,087,076 2,396,809 1,321,356 18,162,529 33.33% 13,317,239 2,329,997 1,392,075 14,255,161 3,907,368

Total 2014 Taka 2,238,135,721 132,833,491 65,717,896 2,305,251,316 829,401,058 60,691,176 12,368,426 877,723,808 1,427,527,508

Total 2013 Taka 2,150,549,683 117,831,361 30,245,323 2,238,135,721 773,933,159 62,498,138 7,030,239 829,401,058 1,408,734,663


STATEmEnT OF FIXED ASSETSAS AT 31 DECEmBER 2014


Annexure-A

Category of Assets

COST PRICE

Rate of Dep. (%)

DEPRECIATION WDV



Disposals/ adjustments during the year





the year



Taka Taka Taka Taka Taka Taka Taka Taka Taka

land 249,764,076 25,776 483,860 249,305,992 - - - - - 249,305,992

Building & other

structures (Own Property) 1,247,961,550 69,288,622 38,600 1,317,211,572 1.7% 285,102,018 21,936,557 23,560 307,015,015 1,010,196,557

Development of leasehold property 987,576 - - 987,576 10% 987,576 - - 987,576 -

Vehicles 159,339,845 17,355,459 8,090,289 168,605,015 20% 141,600,717 7,881,214 5,241,198 144,240,733 24,364,282

Computer equipment 35,545,575 854,150 1,344,243 35,055,482 30% 32,216,245 825,160 1,352,805 31,688,600 3,366,882

Office equipment 114,446,707 4,416,854 (336,453) 119,200,014 15% 104,572,489 2,893,047 (328,721) 107,794,257 11,405,757

Electric equipment 79,459,391 5,575,550 4,460,083 80,574,858 10% 60,472,068 3,893,911 3,479,542 60,886,437 19,688,421

Furniture & fixtures 278,366,291 9,974,279 1,753,097 286,587,473 10% 191,132,706 20,931,290 1,207,967 210,856,029 75,731,444

Capital work in progress 55,177,634 22,945,992 48,562,821 29,560,805 - - - - - 29,560,805

Mobile handset 17,087,076 2,396,809 1,321,356 18,162,529 33.33% 13,317,239 2,329,997 1,392,075 14,255,161 3,907,368

Total 2014 Taka 2,238,135,721 132,833,491 65,717,896 2,305,251,316 829,401,058 60,691,176 12,368,426 877,723,808 1,427,527,508

Total 2013 Taka 2,150,549,683 117,831,361 30,245,323 2,238,135,721 773,933,159 62,498,138 7,030,239 829,401,058 1,408,734,663



Category of Assets

Cost Price Depreciation WDV



Transferred during the year

Disposals/Adjustments during

the year


Rate of Dep.

(%)



Depreciation transferred during

the year


the year



Taka Taka Taka Taka Taka Taka Taka Taka Taka Taka Taka

Building & Other Structures :

Administrative Building 18,497,650 - - - 18,497,650 1.7% 7,715,891 314,459 - - 8,030,350 10,467,300

Head Office Building 123,026,384 - - - 123,026,384 1.7% 32,418,554 2,091,449 - - 34,510,003 88,516,381

Total 2014 Taka 141,524,034 - - - 141,524,034 40,134,445 2,405,908 - - 42,540,353 98,983,681

Total 2013 Taka 141,710,838 - 194,592 381,396 141,524,034 37,731,712 2,405,908 3,308 6,483 40,134,445 101,389,589


STATEmEnT OF InVESTmEnT PROPERTYAS AT 31 DECEmBER 2014


Category of Assets

Cost Price Depreciation WDV



Transferred during the year

Disposals/Adjustments during

the year


Rate of Dep.

(%)



Depreciation transferred during

the year


the year



Taka Taka Taka Taka Taka Taka Taka Taka Taka Taka Taka

Building & Other Structures :

Administrative Building 18,497,650 - - - 18,497,650 1.7% 7,715,891 314,459 - - 8,030,350 10,467,300

Head Office Building 123,026,384 - - - 123,026,384 1.7% 32,418,554 2,091,449 - - 34,510,003 88,516,381

Total 2014 Taka 141,524,034 - - - 141,524,034 40,134,445 2,405,908 - - 42,540,353 98,983,681

Total 2013 Taka 141,710,838 - 194,592 381,396 141,524,034 37,731,712 2,405,908 3,308 6,483 40,134,445 101,389,589





notes

PHOTOGRAPHYEKRAMUL HAQUENURJAHAN CHAKLADERA K M SHAMSUR RAHMAN

Scan code with a QR code reader-enable mobile phone to �nd out more about the Bank

GRAMEEN BANKMirpur 2, Dhaka 1216, BangladeshPhone : 9005257-69, Fax : +880-2-9033559email : [email protected] : www.grameen.com

a LI

TA A

SSO

CIA

TE p

rod

uct

ion

: 0

17

11

10

79

17

, em

ail:

li

ta.a

sso

ciat

e@g

mai

l.co

m

vision mission€¦ · organizational chart the founder of gb and next grameen bank : 2014...

Documents