MIRA INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNITED
BANK OF |
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Registered Office : |
16, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1950 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
CALU00376F |
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Legal Form : |
Public
Sector have owned by Government of India. |
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Line of Business : |
Banking business |
RATING
& COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
96600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established Government of India bank. Available information
indicates high financial responsibility of the bank. Trade relations are
fair. Payments are usually correct and as per commitments. The bank
can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office : |
16, |
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Tel. No.: |
91-33-22487470 |
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Fax No.: |
91-33-22480897 |
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E-Mail : |
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Website : |
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Branches
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DIRECTORS
MANAGEMENT
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Name : |
Mr. Alok Bhatnagar |
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Designation : |
Director,
Dept. of Economic Affairs (Banking Div.), Ministry of Finance, Govt. of |
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Name : |
Mr. Suma Verma |
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Designation : |
General
Manager, Rural Planing & Credit Department, Reserve Bank of |
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Name : |
Mr. Debashis Banerji |
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Designation : |
Director,
United Bank of |
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Name : |
Mr. Biswajit Kakoti |
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Designation : |
Director, United Bank of |
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EXECUTIVES:
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Name : |
Mr.
Prakritish Basu |
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Designation : |
General
Manager, CB & IB |
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Name : |
Mrs.
Mrinal Baishya |
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Designation : |
General
Manager, Systems & Strategies |
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Name : |
Mr.
Ahoke Kumar Banerjee |
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Designation : |
General
Manager, Balance Sheet Management |
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Name : |
Mr.
Santanu Guha |
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Designation : |
General
Manager, Asset Management |
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Name : |
Mr.
R.K. Dasgupta |
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Designation : |
General
Manager, Inspection & Vigilance |
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Name : |
Mr.
Ahoke Kumar Roy |
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Designation : |
General Manager, Treasury
Management |
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Name : |
Mr.
Anup Sankar Bhattacharya |
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Designation : |
General
Manager, Resources Management |
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Name : |
Mr. Shakti
Pada Biswas |
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Designation : |
General
Manager, Pri. Sec.& New initiative |
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Name : |
Mr.
Nirode Gopal Saha |
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Designation : |
General
Manager, Kolkata Metro |
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Name : |
Mr.
Swapan Kumar Biswas |
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Designation : |
General
Manager, Western Region Mumbai |
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DIRECTORS: |
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Name : |
Mr. S Madhukar |
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Designation : |
Chairman & Managing Director |
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Name : |
Mr. G R Sundaravadivel |
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Designation : |
Executive Director |
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Name : |
Mr. P K Biswas |
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Designation : |
Director |
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Name : |
Mr. Hrishikes Bhattacharya |
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Designation : |
Director |
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Name : |
Mr. V S Chitre |
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Designation : |
Director |
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Name : |
Mr. Ram K Gupta |
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Designation : |
Director |
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Name : |
Mr. Dilip Phukan |
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Designation : |
Director |
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Name : |
Mr. Mukul Roy |
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Designation : |
Director |
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Name : |
Mr. Supratim Sen |
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Designation : |
Director |
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Name : |
Mr. K N Prithviraj |
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Designation : |
Executive Director |
BUSINESS
DETAILS
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Line of Business : |
Banking business |
GENERAL
INFORMATION
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No. of Employees : |
About 13000 |
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Bankers : |
Reserve
Bank of |
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Facilities : |
-- |
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Banking Relations : |
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Auditors : |
Kamal
Kishore Gupta Chartered
Accountants |
CAPITAL
STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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NA |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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1532430000 |
Equity Shares |
Rs. 10/- each |
Rs. 15324.300 |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
15324.300 |
15324.300 |
18108.677 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8828.600 |
2963.700 |
1463.286 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
24152.900 |
18288.000 |
19571.963 |
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OTHER
FUNDS |
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1] Deposits |
371666.600 |
292497.700 |
253483.881 |
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2] Borrowings |
3997.200 |
2966.200 |
269.880 |
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TOTAL BORROWING |
375663.800 |
295463.900 |
253753.761 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
399816.700 |
313751.900 |
273325.724 |
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APPLICATION
OF FUNDS |
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FIXED ASSETS
[Net Block] |
6052.200 |
2050.600 |
2012.787 |
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Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
146018.100 |
141295.100 |
144033.181 |
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DEFERREX
TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT
ASSETS, LOANS & ADVANCES |
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Cash & Balances with Reserve Bank of |
26864.100
|
14342.200
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15884.812 |
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Balance with Banks & Money at call & short notice |
15985.500
|
13430.100
|
5423.485 |
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Other
Current Assets |
6614.300
|
6136.100
|
9727.550 |
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Loans
& Advances |
221563.200
|
155223.100
|
113896.803 |
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Total Current
Assets |
271027.100 |
189131.500
|
144932.65 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Current
Liabilities |
23280.700
|
18725.300
|
17652.894 |
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Provisions |
0.000
|
0.000
|
0.000 |
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Total Current
Liabilities |
23280.700 |
18725.300
|
17652.894 |
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Net Current Assets |
247746.400 |
170406.200
|
127279.756 |
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MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
399816.700 |
313751.900 |
273325.724 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales
Turnover |
28527.400 |
23600.300 |
21330.700 |
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Other Income |
3934.100 |
4880.000 |
4785.900 |
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Total
Income |
32461.500 |
28480.300 |
26116.600 |
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Profit/(Loss) Before Tax |
2672.800 |
2045.700 |
3001.800 |
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Provision for Taxation |
0.00 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
2672.800 |
2045.700 |
3001.800 |
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Expenditures : |
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Interest expanded |
16752.000 |
13395.100 |
12177.300 |
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Operating Expenses |
8197.300 |
8336.800 |
7042.900 |
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Other Expenditure |
4839.400 |
4702.700 |
3894.600 |
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Total
Expenditure |
29788.700 |
26434.600 |
23114.800 |
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KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Credit Deposit Ratio |
56.73 |
49.29 |
40.23 |
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Investment Deposit Ratio |
43.26 |
52.26 |
59.53 |
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Cash Deposit Ratio |
6.20 |
5.54 |
5.51 |
|
Interest Expended/Interest Earned |
58.72 |
56.76 |
57.09 |
|
Other Income/Total Income |
12.12 |
17.13 |
18.33 |
|
Operating Expense/Total Income |
25.25 |
29.27 |
26.97 |
|
Interest Income/Total Funds |
7.62 |
7.64 |
7.93 |
|
Interest Expended /Total Funds |
4.47 |
4.34 |
4.53 |
|
Net Interest Income/Total Funds |
3.14 |
3.30 |
3.40 |
|
Non Interest Income/Total Funds |
1.05 |
1.58 |
1.78 |
|
Operating Expense/Total Income |
2.19 |
2.70 |
2.62 |
|
Profit Before Provisions/Total Funds |
2.01 |
2.18 |
2.56 |
|
Net Profit/Total Funds |
0.71 |
0.66 |
1.12 |
|
Return On Net Worth(%) |
14.83 |
11.63 |
16.48 |
LOCAL
AGENCY FURTHER INFORMATION
HISTORY
United Bank of India (UBI) is one of the 14 major banks which
were nationalised on July 19, 1969. Its predecessor The United Bank of India
Limited., was formed in 1950 with the amalgamation of four banks viz. Comilla
Banking Corporation Limited. (1914), Bengal Central Bank Limited. (1918),
Comilla Union Bank Limited. (1922) and Hooghly Bank Limited. (1932) (which were
established in the years indicated in brackets after the names). The origin of
the Bank thus goes back as far as 1914. As against 174 branches, Rs.1470
millions of deposits and Rs.1120 millions of advances at the time of
nationalisation in July, 1969, today the Bank has 1310 branches, over Rs.227580
millions of deposits and Rs. 84210 millions of gross advances as on 31-03-04.
Presently the Bank has a three-tier organisational set-up consisting of the
Head Office, 28 Regional Offices and 1310 branches.
After
nationalisation, the Bank expanded its branch network in a big way and actively
participated in the developmental activities, particularly in the rural and
semi-urban areas in conformity with the objectives of nationalisation. In
recognition of the role played by the Bank, it was designated as Lead Bank in
several districts and at present it is the Lead Bank in 34 districts in the
States of West Bengal, Assam and Tripura. The Bank is also the Convener of the
State Level Bankers' Committees (SLBC) for the States of West Bengal and Tripura.
UBI
played a significant role in the spread of banking services in different parts
of the country, more particularly in Eastern and North-eastern
The Bank
has three full fledged Overseas Branches one each at Calcutta, New Delhi and
Mumbai with fully equipped dealing room and SWIFT terminal . The
operations of 500 branches have been computerised either fully or partially and
Electronic Fund Transfer System came to be implemented in the Bank's branches
at
highlights
Highlights of UBI Performance in 2004-05
Ø
United Bank of
Ø
Deposit increased to Rs 25,3480 millions registering a growth of 11.4%.
Ø
During the year, the Bank registered an increase of Rs 3,4180 millions
in Gross advances from Rs 8,4210 millions in March 2004 to Rs 11,8390 millions
in March 205 recording an all time high growth rate of 40.6%.
Ø
Credit-Deposits Ratio (CDR) rose to 46.7% from 37.0% in March 2004.
Ø
Operating profit increased to Rs 6900 millions during 2004-05 compared
to Rs 6130 millions in the previous year.
Ø
Net profit after making provisions was Rs 3000 millions.
Ø
The Bank is focusing on lending to agriculture, small scale industries,
infrastructure, retail and corporates.
Ø
The Bank met the directives of Government of India for doubling the flow
of credit to agriculture and its disbursement to agriculture amounted Rs 10660
millions forming 41.5% over the disbursement made in agriculture in the
previous year.
Ø
Priority sector credit increased from Rs 35340 millions to Rs 45570
millions.
Ø
Agricultural credit increased from 12220 millions to Rs 16070 millions.
Ø
SSI credit increased from Rs 5110 millions to Rs 8200 millions.
Ø
During the year, retail lending increased from Rs 9610 millions to Rs
18080 millions forming 15.3 % of total advances.
Ø
The percentage of standard assets increased to 94% in March 2005
compared to 91% in March 2004.
Ø
Net NPA ratio dropped to 2.43% from 3.76% in the previous year.
Ø
During the year the Bank completed 100% computerization of its 1310
branches.
Ø
Bank has successfully participated in the Real Time Gross Settlement
(RTGS) system during the year. The facility is now available from 39 branches
across the country.
Ø
With a view to enlarge the coverage of potential centers, the bank
opened 10 branches. Three branches in metropolitan areas were merged. First
branch in the State of Sikkim opened.
Ø
The Bank continued to maintain its safety net by achieving Capital
Adequacy Ratio at 18.16% as against the stipulated norm of 9%.
Ø
Staff productivity increased during the year. Business per employee
increased to Rs 20.800 millions in March 2005 from Rs 16.900 millions in March
2004.
Ø
Business per branch increased from Rs 239 millions to Rs 284 millions.
The United Bank of India Limited., was formed in 1950 with the amalgamation of four banks i.e. Comilla Banking Corporation Limited. (1914), Bengal Central Bank Limited. (1918), Comilla Union Bank Limited. (1922) and Hooghly Bank Limited. (1932). United Bank of India (UBI) is one of the 14 major banks, which were nationalised in 1969.
After nationalisation, the Bank expanded in a big way and actively participated
in the developmental activities, particularly in the rural and semi-urban areas
in conformity with the objectives of nationalisation. In recognition of the
role played by the United Bank of India, it was designated as Lead Bank in
several districts and at present it is the Lead Bank in 34 districts in the
States of West Bengal, Assam and Tripura
UBI played a important role in the spread of banking services in different
parts of the country, particularly in Eastern and North-eastern India. United
Bank of
Presently the Bank has a three-tier organisational set-up consisting of the Head
Office, 28 Regional Offices and 1315 branches. The Bank has three full fledged
Overseas Branches one each at
AS
PER WEBSITE:
Press Release :
Performance Highlights For The
Year Ended 31st March, 2007
United
Bank of
Deposits
grow by 27.1% to Rs 371670 millions.
Advances
grow by 41.8% to Rs 226410 millions.
Net
Profit goes up 30.7% (Y-o-Y).
Pays Rs
45.97 millions Dividend to the Government.
Gross
NPA goes down to 3.60%.
Net NPA
goes down to 1.50%.
22%
business covered under Core Banking Solution.
The Board of Directors of United Bank of
While announcing the financial results for the FY 2006-07 at
Bank's headquarters in Kolkata today, Shri P.K. Gupta, CMD of the Bank, said
that an amount of Rs. 459.700 millions has been declared as Dividend to be paid
to the Government which is the same as last year.
The Bank has achieved a total business figure of Rs 598080
millions, a rise of 32.3% over the preceding financial year and has far
exceeded its business target of Rs 550000 millions. The Bank's total Deposits
have increased from Rs 292500 millions as on March 2006 to Rs 371670 millions,
registering a healthy growth of 27.1% whereas the Gross Advances have increased
from Rs 159630 millions to Rs 226430 millions registering a robust growth of
41.8% during the same period. Consequently, the Credit Deposit Ratio has moved
up from 54.6% to 60.9% as on March 2007.
Bank's Net Profit has gone up by 30.7% from Rs 2045.700 millions
to Rs 2672.800 millions. The profit after providing for proposed Dividend and
tax thereon has been, inter-alia, appropriated towards Statutory Reserve (Rs
668.200 millions) and Revenue Reserve (Rs 1416.000 millions).
The Operating Profit of the Bank has increased from Rs 6438.500
millions as on March 2006 to Rs 7191.000 millions as on March 2007 registering
a growth of 11.7%. Q4 over Q4, the same has gone up by 45.7% from Rs 1531.900
millions to Rs 2231.300 millions.
The Tangible Net Worth of the Bank has improved from Rs 18288.000
millions as on March 2006 to Rs 24152.900 millions as on March 2007 registering
a growth of 32.07%. During the year 2006-07, the Bank has raised Rs 3000
millions as Tier II Capital. The Bank's Capital Adequacy Ratio (CRAR) stood at
a healthy level of 12.02% as on March 2007.
Shri Gupta said that the Priority Sector Advances also show a
healthy growth of 32.3% and are at Rs 94050 millions as on 31st March, 2007.
Agriculture advance has gone up by 16.6% to reach at the level of Rs 27130
millions; the credit to SSI Sector has witnessed a growth of 21.3% to reach at
Rs 15810 millions. Bank's Retail Credit has increased from Rs 28330 millions as
on March 2006 to Rs 45360 millions as on March 2007 registering a growth of
60.1%. Advance under Education Loan has increased by 48% from Rs 1520 millions
as on March 2006 to Rs 2250 millions as on March 2007.
The Asset quality of the Bank has improved. The Gross NPA ratio
has declined from 4.66% to 3.60% and the Net NPA Ratio has declined from 1.95%
in March 2006 to 1.50% in March 2007. During the year, the Bank has sold 17
Non-Performing Assets having Book Value of Rs 753.700 millions to ARCIL.
Elaborating on the IT initiatives taken by the Bank, Shri Gupta
informed about the much awaited roll-out of Core Banking Solution (CBS). Within
a period of five weeks from the date of rolling out in January 2007, about 22%
of the Bank's total business has been migrated to this new platform. The Bank
envisages covering 600 branches representing 84% of its business in phases,
under CBS. The Bank has already introduced Internet Banking which was launched
by the Hon'ble Union Finance Minister Shri P. Chidambaram on 6th December 2006.
The Bank has established Virtual Private Network (VPN) backbone for its various
delivery channels and 409 Branches have already been covered under the Network.
Shri Gupta further informed that as many as 111 branches are under RTGS (Real
Time Gross Settlement) through which Bank's customers have been provided
inter-bank fund transfer facility.
The Bank has opened 7 branches during the year taking its network
of branches to 1325. The Bank has plans to open 41 more branches before June
2007. Bank's own ATM network has gone up to 144 as on March 2007. Besides, the
Bank has a tie-up arrangement under CASH TREE with 11 more Banks through which
its customers can access more than 3000 ATMs.
During the current financial year, the Bank plans to give a big
thrust to its non-interest income by starting Cash Management and Depository
Services, besides maintaining its share of Government business and distribution
of third party products.
Significant Improvement in
Credit Deposit Ratio in
A
special State Level Bankers' Committee Meeting for the State of
Shri
Pawan Kumar Bansal, Hon'ble Minister of State for Finance (EB & I), Govt.
of India in his keynote address desired for enhanced flow of credit to
agriculture and other priority sectors so as to ensure attainment of national
goals. Shri Bansal emphasized on micro-financing and suggested for coverage of
additional eight districts in the State for 100% financial inclusion during the
next year.
Dr. Asim
Dasgupta, Hon'ble Finance Minister of the State, during his deliberations
expressed his satisfaction over the increase in Credit Deposit Ratio by 5
percentage points over March 2006 up to 65% against the yearly target of 5
percentage points rise and urged the banks to raise the
CD Ratio of rural, semi-urban and urban areas of the State by five percentage
points during the next financial year. He also advised the bankers to extend
credit to two lakh un-employed youths through Employment Generation Schemes
during 2007-08. Dr. Dasgupta suggested for setting higher targets for
agriculture and Small Scale Industries for 2007-08 with special emphasis on
financing to Small & Marginal farmers, oral lessees, patta holders and
small entrepreneurs keeping in view the requirement of the State. The Hon'ble
Finance Minister assured full support of the State Government for further
improvement of 5% recovery during the next year also.
Reviewing
the performance of the banking system during April to December 2006 for the year
2006-07, Shri P.K. Gupta, Chairman of the Convener Bank, SLBC stated that the
banks sanctioned 100168 cases under different Self Employment Schemes
registering a growth of 19% over the 83836 cases sanctioned during April to
December 2005.
The
Banks during April to Dec.'06 disbursed Rs. 63730 millions against the Annual
Credit Plan of Rs. 109250.000 millions for 2006-07, which marks an increase of
24% over the disbursement of Rs.5154 cr. during the corresponding period of the
last year. Shri Gupta also stated that estimated disbursement would be Rs
105810 millions for 2006-07.
The
Banks made Savings Linkage to 87407 Self Help Groups and Credit Linkages to
70639 Groups during April to December 2006.
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject is
not known to have contravened any existing local laws, regulations or policies
that prohibit, restrict or otherwise affect the terms and conditions that could
be included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.40.55 |
|
|
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.54.89 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
56 |
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%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses
an extremely sound financial base with the strongest capability for timely payment
of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute
credit risk exists. Caution needed to be exercised |
Credit not recommended |