नागरिक लगानी कोषको असार मसान्तसम्मको वित्तीय अवस्था विवरणCitizen Investment Trust Unaudited Financial Statement

Citizen Investment Trust

Financial Position of the Trust (Unaudited)

As of Ashad End 2083

Sources of Fund (In Rs. Thousand)

Particulars 2082।83 Ashad End 2081।82 Ashad End

Share Capital	6,805,798	6,481,712
Net Fund Balance	336,861,847	291,840,887
Total Retirement Fund Balance	319,270,766	266,643,012
C.B.B. Retirement Fund	232,331,438	192,957,207
Citizen Unit Scheme	2,140,315	1,934,200
Gratuity Fund Scheme	67,261,298	51,845,803
Investors' Account	11,750,778	10,975,877
Civil Servant Employee Insurance Fund	4,949,785	8,385,845
NARC Insurance Fund	164,410	159,548
Citizen Pension Scheme	672,742	384,531
Insurance Fund Liability	4,874,751	5,080,559
Reserve Fund	12,716,331	20,117,316
Central Account	3,570,777	4,163,407
Other Funds and Schemes	9,145,554	15,953,909
Fair Value Fund	7,495,945	10,566,520
Revaluation Fund	880,494	332,060
Current Liabilities and Provisions	18,235,411	1,845,529
Total	370,279,495	311,066,708

Applications of Fund (In Rs. Thousand)

Particulars 2082।83 Ashad End 2081।82 Ashad End

Net Fixed Assets	2,775,723	2,252,795
Investments	327,623,996	289,166,662
Government of Nepal Bonds	15,709,436	788,750
Fixed Deposits	140,192,248	145,195,281
Term Loan	28,152,601	26,386,492
Investment in Subsidiary Company	2,724,675	2,724,675
Participants' Loan and Housing Loan	72,367,939	60,697,430

1. Financial Statements

The balance sheet and profit & loss statement for the quarterly period are as stated above.

2. Management Analysis

Since the Trust collects long-term funds and makes daily payments from the monthly collection amount of participants, liquidity management is convenient. The main income of the Trust consists of service fees, interest income, and cash dividends received from the schemes operated by the Trust. The Trust has forwarded the process of operating a closed-end mutual fund scheme. The Trust has prioritized investment diversification.

3. Details Regarding Legal Actions
(a) While paying non-contribution-based retirement amounts to retired employees of related institutions from the Gratuity Fund and Investors' Account scheme operated by Citizen Investment Trust, income tax was being deducted at	15	88	(1)	5
(b) The Large Taxpayers Office issued a revised tax assessment for F.Y. 2074/075 imposing a fine on the Trust claiming that deducting only	5	2082	02,	2083	31

4. Analysis Regarding Share Transactions of Organized Institution

(a) Shares of the Trust are being traded on the secondary market of Nepal Stock Exchange Ltd. under the open share market. The Trust management's view on this matter remains neutral.

(b) Maximum, minimum, closing price of shares during the quarterly period, total trading days, and number of traded shares:

Maximum Price Minimum Price Closing Price Total Trading Days Traded Share Volume

1,860.00 1,630.30 1,670.00 64 3,37,980

5. Problems and Challenges

Integrating all transactions and other functions into the software currently being used by the Trust

Treasury Bill	34,893,094	8,546,823
Share/Securities of Organized Institutions	33,584,003	31,827,210
Fair Value Adjusted Assets	7,495,945	10,566,520
Bank Balance	29,166,670	6,157,359
Current Assets	3,215,162	2,923,373
Total :	370,279,495	311,066,708

The figures in the above statement may change as per the auditor's recommendation.

Citizen Investment Trust

Central Account

From 1st Shrawan 2082 to End of Ashad 2083

Unaudited Income/Expense Statement

Rs. in Thousand

Particulars 2082/83 End of Ashad 2081/82 End of Ashad

Interest Income	364,769	337,430
Service Charge and Commission Income	1,792,152	1,653,565
Miscellaneous Income	93,159	106,414
Total Income	2,250,080	2,097,410
Management Expenses	290,655	276,933
Expense Provision	157,993	147,339
Total Expenses	448,648	424,272
Net Profit Before Tax	1,801,432	1,673,139
Income Tax Provision	451,122	419,568
Net Profit	1,350,311	1,253,570

Particulars

Financial Ratios & Other Information:

Overall As on Ashad 2083 As on Ashad 2082

Return on Investment (ROI) 4.27% 5.68%

Fund to Investment ratio 95.15% 99.08%

Weighted average cost of fund 4.17% 5.23%

Central Account
Net Worth (Rs. in '000)	10,376,575	10,645,119
Net Worth (Value per share)	152.47	164.23

Earning Per Share (in Rs.) - Annualized 19.84 19.34

Internal challenges and problems facing the Fund include making software used by entities compatible for integration, completing old reconciliation work, and maintaining attractive returns for participants. Similarly, external challenges include competition in the capital market, irregular recovery of loans extended to Nepal Airlines Corporation, the situation where affiliated institutions and participants have to join the Social Security Fund, and the impact on the Fund's business due to the operation of contribution-based pension schemes by other institutions. Likewise, the heavy fall in fixed deposit interest rates caused by excess liquidity in the market has had a challenging impact on the financial position of programs/schemes operated by the Fund. To solve these challenges, the Fund has adopted strategies such as regularly updating its software and implementing it across all programs, digitizing the Fund's services, making bank reconciliation efficient, and safely diversifying investments to provide attractive returns to participants.

6. Corporate Governance

The Board of Directors, as the supreme body of the Fund, is responsible to the shareholders and for maintaining corporate governance. Trustee sub-committees have been formed under the convenorship of directors to operate, monitor, and certify financial statements of schemes/programs operated by the Fund. The Trustee remains accountable to participants. An Audit Committee exists under the convenorship of a director to maintain financial discipline and an internal control system. An Anti-Money Laundering and Countering the Financing of Terrorism Monitoring Sub-committee has been formed under the convenorship of a director. Periodic reports of activities carried out in this regard are submitted to the committee. An Investment Sub-committee and a Credit Sub-committee have been formed under the convenorship of the Executive Director of the Fund. Investments are made adhering to specified procedures, processes, and standards within the boundaries of the investment policy. Loans are extended to participants in accordance with the credit guidelines.

7. Declaration by Chief Executive Regarding Truth and Accuracy

As of today's date, I personally take responsibility for the accuracy of the information and details mentioned in this report. Furthermore, I declare that to the best of my knowledge and belief, the details mentioned in this report are true, factual, and complete, and no details, information, or data necessary for investors to make informed decisions have been concealed.