ICB Securities Trading Company Ltd. (ISTCL)
Background
ICB Securities Trading Company Limited (ISTCL) is a subsidiary of Investment Corporation of Bangladesh (ICB) under the provisions contained in Section-2 of the Companies Act, 1994. It was formed as a part of the restructuring programme of ICB under Capital Market Development Programme (CMDP) initiated by the Govt. of Bangladesh (GOB) and the Asian Development Bank (ADB) and in terms of power conferred in the ICB Ordinance. The company was incorporated with the Registrar of Joint Stock Companies and Firms under the Companies Act 1994 on 05 December 2000. The company obtained license from the Securities and Exchange Commission on 12 August 2002 to carry on the stock brokerage business. The company started its operation on 13 August 2002 upon the issuance of gazette notifications by the Government. The company is being operated pursuant to its own Memorandum and Articles of Associations, SEC's Rules and regulation and other applicable laws. It has independent Board of Directors and separate management.
Corporate Service
I. Provides online trading facilities for buying and selling
securities listed with the bourses;
II. Works as a full service Depository participant in the
Central Depository System;
III. Performs other brokerage services;
IV. Trades Securities for its own portfolio as Authorized
Dealer of DSE;
V. Acts as selling agent under "Direct Listing Regulations
2006".
Board of Directors
The Board of Directors of the company comprises 6 (six) members. Except the Chief Executive Officer (CEO), all the Directors are non-executive and independent, two of whom are nominated by ICB, the holding company of ISTCL and the other three (50%) are drawn from the private sector having good academic qualification, expertise and experience in the field of business, finance and investment. The General Manager (Administration) of ICB is the Chairperson of the Board. The role of Chairperson and CEO undertakes all decisions of the Board. The Board is reconstituted every year by the shareholders through the retirement of one-third of its members in Annual General Meeting, who are then eligible for re-election.
The Board of Directors of the company as on 22 May, 2011 is as follows:
| SL# |
Name |
Position |
| 01 |
Ms. Dina Ahsan |
Director & Chairperson(Nominated by ICB) |
| 02 |
Jubaida Nasrin |
Director & CEO(Nominated by ICB) |
| 03 |
Abu Md. Yousuf |
Director (Nominated by ICB) |
| 04 |
Khondokar Atique-E-Rabbani |
Director |
| 05 |
Dr. Borhan Uddin |
Director |
| 06 |
A.H.M Moazzem Hossain |
Director |
Financial Indicators of ISTCL:
| Particulars |
2008-2009 |
2009-2010 |
| Capital Structure |
| Authorized Capital |
TK. 50.00 crore |
TK. 50.00 crore |
| Paid up Capital |
TK. 3.75 crore |
TK. 7.50 crore |
| Reserve |
TK. 26.55 crore |
TK. 39.55 crore |
| Retained Earnings |
TK. 5.76 crore |
TK. 31.47 crore |
| Financial Performance |
| Revenue Income |
TK. 38.79 crore |
TK. 89.74 crore |
| Income before Tax |
TK. 21.76 crore |
TK. 43.98 crore |
| Income after Tax |
TK. 18.79 crore |
TK. 38.70 crore |
| Financial Ratios |
| Net Profit to Total Income(%) |
48.44 |
43.12 |
| Return on Equity(%) |
47.20 |
49.29 |
| Earning Per Share(Tk.) |
501.15 |
516.00 |
| Dividend Per Share |
1:1B |
1:2B |
| Dividend Payout Ratio(%) |
19.96 |
38.76 |
| Current Ratios (Times) |
1.32:1 |
1.29:1 |
| Net Asset Value(NAV) per Share(Tk.) |
1061.64 |
1046.87 |
Web site: http://www.istcl.com.bd
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