MIRA
INFORM REPORT
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Report Date : |
28.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
National Credit and Commerce Bank Limited |
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Registered Office : |
7-8, Motijheel Commercial Area, Dhaka-1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18th November, 1985 |
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Com. Reg. No.: |
C-15011 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Engaged in General Banking. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Report on
National Credit and Commerce Bank
Limited
Address
Foreign
Exchange Branch,
29/A,Tyenbee
Circular Road,
Motijheel
Commercial Area,
Dhaka-1000,
Bangladesh.
Date of Opening Branch
12th
January, 2002
Registered Office
7-8,
Motijheel Commercial Area,
Dhaka-1000,
Telephones : 880-2-9561902-4, 9566283,
9563981-3,
Fax : 880-2-9566290,
Telex : 642821 NCL BJ
E-mail : nccbl@bdmail.net
SUMMARY
Established :
November, 1985
Incorporation
No. :
C-15011
Incorporation
Dated : 18th
November, 1985
Managing
Director & CEO :
Mr. Mohammad Nurul Amin
Paid Up
Capital :
Tk.1,201,788,566
Total
Capital :
Tk.2,417,368,493
Total
Deposits :
Tk.28,147,342,335
Total Assets :
Tk.32,615,007,792
Loan &
Advances :
Tk.24,678,356,293
Profit after
Tax :
Tk.479,219,807
Earning Per
Share :
Tk.39.88
Employees
1,118
Executives- 150
Junior
Executives- 180
Senior
Officer- 220
Junior
Officer- 340
Assistant
Officers- 228
NO OF BRANCHES
48
OFFICE AREA
4,500 sq. ft. (rented)
FACTORY AREA
N/A
WAREHOUSE AREA
1,900 sq.
ft. (rented)
DIRECTORS & SHAREHOLDERS
Mr. Mahbubul Alam Tara - Chairman
Alhaj
Mohammad Nurun Newaz -Vice Chairman
Mr. Mohammad
Nurul Amin -Managing Director
Mr. Tofazzal
Hossain
Mr. Abdus
Salam
Mr. A. S. M.
Main Uddin Monem
Mr.
Aslam-Ul-Karim
Mr.
Khondakar Zakaria Mahmud
Mr.
Shahjahan
Mr. Mohammad
Ali
Mr. Fakhrul
Alam
Mr. Manzurul
Hasan Talukder
Mr.
Mrs.Anjuman Ara Begum
Mrs.
Rojbehan Banu
HISTORY
Subject was established in Dhaka city as schedule bank in
1985 and the inquired branch started its operation on 12th January,
2002.
BUSINESS
The company is engaged in General Banking.
RANGE Of SERVICES
" One Stop Service
" Time Deposit Scheme
" Monthly Saving Scheme
" Deposit Insurance Scheme
" Inward & Outward Remittances
" Travelers
Cheques
" Import
Finance
" Export
Finance
" Working
Capital Finance
" Loan
Syndication
" Under
Writing & Bridge Financing
" Trade
Finance
" Industrial
Finance
" Discounting
" Foreign
Currency Deposit Account
" NFCD
" Consumer
Credit Scheme
" Locker
Service
" Credit Card
" Debit Card
NAME OF GROUP
NIL
NAME OF THE SISTER CONCERNS
NIL
ENLISTED WITH
Dhaka Stock Exchange Limited, Dhaka
Chittagong Stock Exchange Limited, Chittagong
STOCK CODE
nccbl
LEGAL FORM
Subject is a Public Limited company incorporated with the Registrar
of Joint Stock of Companies Dhaka.
BALANCE SHEET
As at 31 DECEMBER, 2006
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PROPRTIES AND ASSETS |
Taka |
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Cash |
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In hand (Including foreign currencies ) |
248,445,816 |
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Balance with Bangladesh bank and its agent bank(s) |
1,540,115,288 |
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Balance with other
banks and financial institutions |
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In Bangladesh |
1,286,728,163 |
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Outside Bangladesh |
135,282,499 |
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|
1,422,010,662 |
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Money at call and on
short notice Investments |
560,000,000 |
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Government |
3,410,634,030 |
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Others |
141,444,513 |
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|
3,552,078,543 |
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Loans, cash credits, overdrafts etc |
23,038,761,590 |
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Bills purchased and discounted |
1,639,594,703 |
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24,678,356,293 |
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Fixed assets including premises |
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Furniture and Fixtures |
353,707,057 |
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Other Assets |
260,294,133 |
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Non –banking assets |
------------- |
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Total Assets |
32,615,007,792 |
PROFIT & LOSS ACCOUNTS
As at 31 DECEMBER, 2006
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INCOME AND
EXPENDITURE |
Taka |
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Interest income |
3,023,330,459 |
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Less : Interest paid on deposits and borrowings |
2,047,143,589 |
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Net interest income |
976,186,870 |
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Income from investments |
265,168,893 |
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Commission, exchange and
brokerage |
489,031,412 |
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Other operating income |
135,660,233 |
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Total Operating
income |
1,866,047,408 |
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Salary Allowances |
367,663,793 |
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Rent, taxes, insurance, electricity etc |
57,214,963 |
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Legal expenses |
4,025,901 |
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Postage , stamp telecommunication etc |
20,727,648 |
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Stationary, printing, advertisement etc |
19,261,704 |
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Managing Director’s salary and allowances |
2,730,000 |
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Director’s fees |
1,185,500 |
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Audit fees |
120,000 |
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Depreciation and Repair of Bank’s assets |
63,733,131 |
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Other expenses |
61,808,842 |
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Total operating
expenses |
598,471,482 |
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Profit before
provisions |
1,267,575,926 |
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Provision for loans and advances |
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Specific Provision |
130,784,000 |
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General Provision |
79,957,086 |
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|
210,741,086 |
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Provision for Investment Fluctuation in Share |
--------------- |
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Provision for Other Assets |
321,771 |
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Total Provisions |
211,062,857 |
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Profit before tax |
1,056,513,069 |
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Provision for tax |
577,293,262 |
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For current year |
512,809,657 |
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For prior years |
61,536,962 |
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Differed Tax |
2,946,643 |
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Profit after tax for the year |
479,219,807 |
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Add.: Balance of profit brought forward from last year |
10,312,214 |
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Total profit
available for distribution |
489,532,021 |
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Appropriations |
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Statuary reserve 20% of net profit before tax |
211,302,614 |
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Proposed Cash Dividend@ 10% for 2006 & 10% for the
year 2005 |
120,178,857 |
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Proposed Stock Dividend @ 12.50% for 2006 & 10% for
2005 |
150,223,570 |
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|
481,705,041 |
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Retained earning carried
forward |
7,826,980 |
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Earning Per share |
39.88 |
AUDITOR
Ata Khan & Co
Chartered Accountants
67, Motijheel Commercial Area,
Dhaka-1000,
CAPITAL STRUCTURE
Authorized Capital Tk.2,500
million
Paid Up Capital Tk.1,201.79
million
Each Share Value Tk.100.00
EXCHANGE
RATE
GB
Pound 1.00=Tk. 143.7238
US Dollar 1.00=Tk. 69.4023
Europe
Euro 1.00=Tk.101.3730
Japanese
Yen 1.00=Tk. 0.6176
Australian
Dollar 1.00=Tk. 63.2055
COMMENTS
Subject is a engaged in the business of general banking. The
branches are situated in all the major cities of the country. The services of
the bank are satisfactory and they are quite popular among their clients.
Managing director and other executive are all professional
bankers who know their job well.
The company is good for normal business engagements.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)