RIAZ AHMAD & COMPANY

Chartered Accountants
2-A, ATS Centre, 30-West
Fazal-ul-Haq Road, Blue Area
Islamabad

ILYAS SAEED & CO.

Chartered Accountants
Office # 26, 2nd Floor
Rose Plaza, I-8 Markaz
Islamabad

ANN
AUDITORS REPORT TO THE MEMBERS
We have audited the annexed consolidated financial statements comprising consolidated statement of
financial position of Zarai Taraqiati Bank Limited (the Bank) and its subsidiary company as at 31
December 2014 and the related consolidated profit and loss account, consolidated statement of
comprehensive income, consolidated statement of cash flow and consolidated statement of changes in
equity together with the notes forming part thereof, for the year then ended. These consolidated
financial statements include unaudited certified returns from the branches except for one hundred and
thirty one branches which have been audited by us. We have also expressed separate opinion on the
financial statements of Zarai Taraqiati Bank Limited. The financial statements of subsidiary company
Kissan Support Services (Private) Limited were audited by Ilyas Saeed & Co., Chartered Accountants,
whose report has been furnished to us and our opinion, in so far as it relates to the amounts included for
such company, is based solely on the report of Ilyas Saeed & Co., Chartered Accountants. These
financial statements are the responsibility of the Holding Companys management. Our responsibility is
to express an opinion on these financial statements based on our audit.
Our audit was conducted in accordance with the International Standards on Auditing and accordingly
included such tests of accounting records and such other auditing procedures as we considered
necessary in the circumstances.
In our opinion, the consolidated financial statements present fairly the financial position of Zarai
Taraqiati Bank Limited and its subsidiary company as at 31 December 2014 and the results of their
operations for the year then ended.
Emphasis of matter
We draw attention to Note 16.5 to the consolidated financial statements, which more fully explains the
decisions on conversion of borrowings from State Bank of Pakistan (SBP) (Note 16.3 and 16.4), SBP
sub-ordinated loan (Note 18) and related accrued mark-up on borrowings from SBP and SBP subordinated loan into fully paid-up ordinary shares of the Bank. Further, the Bank's claim from
Government of Pakistan on account of mark-up differential (Note 23.1.1) and various Presidential
Relief Packages (Note 23.1.2) has been waived off by the Board of Directors of the Bank.
Our opinion is not qualified in respect of the above matter.
RIAZ AHMAD & COMPANY
Chartered Accountants

ILYAS SAEED & CO.

Chartered Accountants

Name of engagement partner:

Atif Bin Arshad

Name of engagement partner:

Imran Ilyas

Date: 27 March 2015

Date: 27 March 2015

Islamabad

Islamabad