MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Dutch Bangla Bank Ltd |
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Registered Office : |
Banani Branch, 75, Kemal Ataturk Avenue, Banani, Dhaka-1213, |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
4th July,1995 |
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Com. Reg. No.: |
C-28754 |
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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 : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Report On
Dutch Bangla Bank Ltd
Address
Banani Branch,
75, Kemal Ataturk Avenue,
Banani,
Dhaka-1213,
Bangladesh
Telephone :
880-2-8815191-2,9888389-2
Fax :
880-2-9887336
SWIFT : DBBL BD DH 103
Head Office
Sena Kalyan Bahabn (3rd Floor),
195, Motijheel Commercial Area,
Dhaka-1000
Tel. 880-2-7176390-93
Fax. 880-2-9561889
E-mail: dbbl@bdmail.net
SWIFT: DBBL BD DH
SUMMERY
Established :
July,1995
Incorporation No. :
C-28754
Incorporation dated :
4th July,1995
Managing Director & CEO :
Mr. M. Yeasin Ali
Employees
548
Executives- 57
Senior Executives- 176
Junior Officers- 199
Assistant Officers- 116
NO OF BRANCES
28
OFFICE AREA
2,980 sq.ft (rented)
FACTORY AREA
N/A
WAREHOUSE AREA
2,200 sq.ft (rented)
DIRECTORS
Mr. Zaheed Hossain Khan -Chairman
Mr. M. Yeasin Ali -Managing Director
Mrs. Momtaj Islam
Mr. Bernhard Frey
Mr. Shahabuddin Ahmed
Mr. Abu Hasnat M.Rashidul Islam
Mr. M. Shahidur Rahman
HISTORY
The bank of established in Dhaka as a joint venture between Bangladesh
and Netherlands which started banking operation form 4th July,1995.
BUSINESS
The subject is engaged in general banking
RANGE OF SERVICES
Retail Banking
Foreign Exchange Transaction
Deposit Taking
Industrial Financing
Remittance
Small Enterprise Financing
Pension Scheme
Lease Financing
Personnel Financing
Consumer Financing
Import & Export Financing
Authorised Capital :
Tk.400 million
Paid Up Capital :
Tk.202.14 million
Total Deposits :
Tk.27.24 billion
Total Investments (Loan & Advances) :
Tk.20.13 billion
Net Income :
Tk.367.82 million
Earning Per Share :
Tk.181.97
BALANCE SHEET
for
the year ended 31 December,2005
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PROPERTY AND ASSETS |
2005 Taka |
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Cash: In hand (including foreign currencies) |
321,954,566 |
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Balances with Bangladesh Bank and its agent bank |
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(including foreign currencies |
2,053,081,904 |
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Balance with other banks and financial institutions: |
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In Bangladesh |
405,094,798 |
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Outside Bangladesh |
323,582,109 |
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|
728,676,907 |
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Money at call and short notice |
1,600,000,000 |
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Investments: |
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Government |
3,111,533,400 |
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Others |
388,207,042 |
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3,499,740,442 |
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Loans and advances: |
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Loans, cash credit, over drafts, etc |
17,989,510,326 |
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Bill purchased and discounted |
2,145,228,197 |
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20,134,738,523 |
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Lease receivables |
2,242,850,357 |
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Fixed assets including, furniture and fixtures |
376,410,772 |
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Other assets |
1,382,096,560 |
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Non- banking assets |
---------------- |
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Total Assets |
32,339,550,031 |
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LIABILITIES & CAPITAL |
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Long-term liability-DBBL Industrial Bond |
500,000,000 |
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Borrowings from financial institutions including other banks and
agents |
1,195,521,125 |
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Deposits and other accounts: |
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Current deposits and
other accounts, etc |
3,508,898,509 |
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Savings bank deposits |
3,492,416,221 |
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Fixed deposits |
17,585,847,089 |
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Term deposits |
2,335,447,710 |
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Bills payable |
318,497,865 |
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27,241,107,394 |
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Other liabilities |
2,054,324,207 |
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TOTAL LIABILITIES |
30,990,952,726 |
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Shareholder's equity |
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Paid up share capital |
202,135,000 |
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Share premium |
11,067,500 |
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Statutory reserve |
490,459,235 |
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Dividend equalization account |
15,160,125 |
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Proposed dividend |
50,533,750 |
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Retained earnings |
579,241,695 |
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TOTAL SHAREHOLDER'S EQUITY |
1,348,597,305 |
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TOTAL LIABILITIES AND SHAREHOLDERS EQUITY |
32,339,550,031 |
PROFIT & LOSS
ACCOUNT
for
the year ended 31 December,2005
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PROPERTY AND ASSETS |
2005 Taka |
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Interest income |
2,684,077,716 |
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Interest paid on deposits & borrowings and long term liability |
1,863,861,169 |
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Net interest income |
820,216,547 |
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Income from investments |
183,567,094 |
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Commission, exchange and brokerage |
488,325,830 |
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Other operating income |
78,755,412 |
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Total operating income |
1,570,864,883 |
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Salary and allowance |
298,410,375 |
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Managing directors salary and allowance |
6,276,000 |
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Rent, rates and taxes insurance electricity etc |
79,584,592 |
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Legal expenses |
550,472 |
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Postage, stamps, telecommunication, etc |
20,803,745 |
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Audit fees |
230,000 |
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Printing, stationary and advertisement |
40,036,905 |
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Repairs, maintenance and depreciation |
98,838,304 |
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Other expenses |
86,557,552 |
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Total operating expenses |
631,287,945 |
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Profit before provisions |
939,576,938 |
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Specific Provision |
104,724,330 |
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General provision |
110,035,472 |
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|
214,759,802 |
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Provision for diminution in value of investments |
-------------- |
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Provision for other classified assets |
458,000 |
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Provision for Nostro accounts |
341,545 |
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215,559,347 |
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|
724,017,591 |
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Contribution to Dutch Bangla Bank Foundation |
36,200,880 |
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Profit before tax |
687,816,711 |
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Provision for tax |
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Current tax |
349,468,592 |
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Deferred tax |
(29,468,682) |
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|
319,999,910 |
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Profit after tax |
367,816,801 |
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Appropriations: |
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Statutory reserve |
137,463,342 |
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Dividend equalization account |
10,106,750 |
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Proposed dividend @25% for a share of Tk.100 each (2004:@22.50%) |
50,533,750 |
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Dividend distribution tax |
------------- |
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|
198,203,842 |
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Retained earning carried forward |
169,612,959 |
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Earning per share |
181.97 |
MEMBER
Bangladesh Association of Bankers, Dhaka
Dhaka Chamber of Commerce & Industries, Dhaka
LEGAL FORM
The subject is a public limited company incorporated with the Registrar
of Joint Stock Companies, Dhaka
EXCHANGE RATE
GB Pound :
1.00=Tk.138.0118
US Dollar :
1.00=Tk. 70.4700
Europe Euro : 1.00=Tk. 92.7535
Japanese Yen :
1.00=Tk. 0.5992
Australia :
1.00=Tk.55.5718
COMMENTS
Subject is a public limited company engaged in general banking and other
related services. The bank has 28 branches all over the country and they are
quite popular among their clients.
Mr. M. Yeasin Ali, the managing director of the bank is an experienced
banker and knows his job well. The other executives are also experienced
banker.
Subject can be considered good for any normal business dealings.
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/normal. |
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%)