274pc rise in net profit of Dhaka Insurance in '09
Saturday, 3 July 2010
Sonia H Moni
Net profit of Dhaka Insurance Ltd jumped to 274 per cent in 2009 as the company made investment in share market and FDR.
Dhaka Insurance Ltd Managing Director AQM Wazed Ali told the FE, "We made net profit of Tk 96.5 million, up from Tk 25.9 million which means the net profit has increased 274 per cent."
He said: "The profit was boosted due to investment in share market and FDR and we have started to invest in real estate business."
"We have already bought 10 katha of land at Kakrail to make our own building and its construction work will start soon."
"We are going to buy another land beside Bangladesh Bank to build another building," he added.
The company made Tk 129 million gross premium income in 2009 while it was Tk 154 million in 2008, according to the annual report 2009 of the company.
The capital of the insurance company increased to Tk 150 million from Tk 60 million in 2008 while the total investment of the company was Tk 350 million in 2009 which was 13.74 per cent higher than that of the previous year
It set aside Tk 48.9 million in 2009 as reserve for avoiding risk of its clients while its general reserve, dividend equalisation and investment fluctuation stood at Tk 55.0 million in 2009.
The company started its journey with five branches on February 6, 2009 and now it has 14 branch-offices across the country.
Net profit of Dhaka Insurance Ltd jumped to 274 per cent in 2009 as the company made investment in share market and FDR.
Dhaka Insurance Ltd Managing Director AQM Wazed Ali told the FE, "We made net profit of Tk 96.5 million, up from Tk 25.9 million which means the net profit has increased 274 per cent."
He said: "The profit was boosted due to investment in share market and FDR and we have started to invest in real estate business."
"We have already bought 10 katha of land at Kakrail to make our own building and its construction work will start soon."
"We are going to buy another land beside Bangladesh Bank to build another building," he added.
The company made Tk 129 million gross premium income in 2009 while it was Tk 154 million in 2008, according to the annual report 2009 of the company.
The capital of the insurance company increased to Tk 150 million from Tk 60 million in 2008 while the total investment of the company was Tk 350 million in 2009 which was 13.74 per cent higher than that of the previous year
It set aside Tk 48.9 million in 2009 as reserve for avoiding risk of its clients while its general reserve, dividend equalisation and investment fluctuation stood at Tk 55.0 million in 2009.
The company started its journey with five branches on February 6, 2009 and now it has 14 branch-offices across the country.