ICB Securities Trading Company Limited (ISTCL), a subsidiary of Investment Corporation of Bangladesh (ICB), has vowed to provide best value for money to investors through adopting prudent trading strategies and personalised service focussing on business growth, officials said.
"To promote continuous advancement of all efforts to sustain long-term growth, we are offering quality services to the valued clients, providing investors an edge over others through experience and expertise in the related field," said Md Abdur Rouf, chairman of the company at the 14th annual general meeting held in Dhaka Saturday.
The meeting was presided over by Md Abdur Rouf, chairman of the company. Directors Md Abul Hossain, Dr Mohammed Helal Uddin, Joarder Israil Hossain and Yusuff Hasan and chief executive officer Jubaida Nasrin were also present at the meeting.
"Despite the sluggish global economic performance and volatility in local political situation, the company registered impressive result in the financial year 2013-2014 which is indeed a tribute the pledge, promise, energy and hard work of our directors, management and employees together," said Mr Rouf.
The operating profit of the company in the year under review was Tk 639.0 million. After deduction of income tax and other provisions, net income stood at Tk 113.1 million, registering an increase of 21.59 per cent over the previous year, said Mr Rouf.
The paid-up capital of the company remained at Tk 405.0 million, the earrings per share stood at Tk 32.13 during the year 2013-14 which was Tk 26.42 in the previous year.
The company flourished over the years, surviving cut-throat completion by providing attractive services to its clients. The company has pursued aggressive expansion for the past years and has performed very well in terms of workstation expansion, technology, survives and asset quality, he said.
"The company sees the year 2015 of both possibilities and challenges. The company envisages a future where it will be known as a domestic market leader to lead the business, create value and fulfil the needs of the valued clients and contribute to the society," said Mr Rouf.
ISTCL has become country's leading stock brokerage service provider and gained trust and reliability of both the individual and institutional investors, he said.
"The company will look for further consolidation in its position by increasing operational efficiencies, putting effective control mechanism, aligning manpower to business and turning them into an excellent contributing factor to the business," said Mr Rouf.
He said the country's securities market has already come out from the bearish trend and started gaining momentum.
The average turnover on both the bourses shifted from Tk 4.08 billion to Tk 5.13 billion in the reporting year. The market capitalisation stood at Tk 2,943.20 billion as on June 30, 2014 against Tk 2,530.24 billion of 30 June 2013.
"Despite overall business environment in the year 2013-14 was more challenging, the volume of transactions of the company remain steady in terms of turnover percentage with both the bourses through the active participation of investors," said Mr Rouf.
The number of institutional clients increased 235 and individual clients registered at 17,941 as on 30 June, 2014 which was 227 and 17,861 respectively as on 30 June 2013, he informed.
The turnover of the company was about 11.31 percentage of the prime bourse's total turnover against 10.32 percentages in previous year, he said.
"The company has been retaining its position among the top two brokerage houses with the major bourse for the last couple of years in terms of turnover. Our performance clearly shows that the company is running ahead with a sound business strategy," said Chief Executive Officer (CEO) of the company Jubaida Nasrin.
ICB Securities Trading Company Limited (ISTCL) emerged as a public sector stock broking company just after the introduction of Automated Trading System in the country.
The company obtained license from the Bangladesh Securities and Exchange Commission (BSEC) on 13 August 2002 to carry on the stock brokerage business with Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on 07 February, 2004 and it started its function as Stock Dealer from 15 February 2010.
The Company offers stock broking services for its diverse clients through the extended network of head office and 07 (seven) branch offices in major important cities of the country.
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