UTTARA BANK LIMITED  PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2008                       2008   2007   Notes   Taka   Taka OPERATING INCOME             Interest Income   18.1       4,084,288,089       2,997,432,877 Interest paid on deposits, borrowings etc.   19       2,200,521,205       1,876,351,450 Net Interest Income           1,883,766,884       1,121,081,427 Income from Investment.   20          784,896,516          921,189,131 Commission,Exchange and Brokerage   21          907,895,386          744,994,717 Other Operating Income    22          431,106,660          356,650,099 Total operating income            4,007,665,446          3,143,915,374 OPERATING EXPENSES             Salary and allowances.   23       1,272,357,540       1,158,073,662 Rent, taxes,insurance,electricity etc.   24          151,877,811          188,502,215 Legal expenses   25             9,429,329           11,544,740 Postage,stamp,telecommunication etc.   26           39,680,054           48,215,055 Stationery,printing,advertisements etc.   27           51,324,787           40,275,975 Managing Director's salary & allowances and fees 28             6,424,333             5,060,000 Directors' fees and expenses   29             2,264,000             1,916,000 Auditors' fees                    250,000                130,000 Repair, maintenance and depreciation             of Bank's property   30          107,256,133           85,308,986 Other expenses   31          166,472,931          138,653,184 Total operating expenses            1,807,336,918       1,677,679,817             Operating profit            2,200,328,528       1,466,235,557 Add: Profit on sale of fixed asset   32          105,289,644                        -   Profit before  provision             2,305,618,172       1,466,235,557 Provision               207,500,000          322,500,000  Provision for loans & advances   33           92,550,000          255,800,000  Provision for off balance sheet exposures    34           57,450,000           44,200,000  Provision for outstanding unreconciled entries  35           55,000,000                        -   Transfer to gratuity fund                            -             20,000,000 Transfer to benevolent fund                 2,500,000             2,500,000 Profit before tax            2,098,118,172       1,143,735,557 Provision for Tax              959,600,000          734,200,000 Current tax              940,000,000          727,000,000 Deferred tax                19,600,000             7,200,000 Profit after tax              1,138,518,172             409,535,557 Retained surplus brought forward   16             3,196,722           22,990,765 Profit available for appropriation           1,141,714,894          432,526,322 Appropriations            1,140,000,000          429,329,600 Statutory reserve           1,000,000,000           30,000,000 General reserve              140,000,000                        -   Issue of bonus share                            -            399,329,600 Retained earnings                   1,714,894             3,196,722 Earning per share (EPS)   40                  142.55                   51.28             Accompanying notes 1 to 44 form an integral part of these financial statements