MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Standard Bank Ltd |
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Registered Office : |
4/A,Kemal Ataturk Avenue, Gulshan-2, Dhaka-1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
11th May,1999 |
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Com. Reg. No.: |
C-37713 |
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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 : |
Regular |
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Litigation : |
Clear |
Report On
Standard Bank Ltd
Address
4/A,Kemal Ataturk Avenue
Gulshan-2
Dhaka-1212,
Bangladesh
Telephone :
880-2-9881015,9885164,
Head Office
Metropolitan Chamber Building (3rd Flor)
122-124,Motijheel Commercial Area,
Dhaka-1000
Tel. 880-2-7175698,7169134, 9560299, 9558375,
Tele Fax. 880-2-7176367,7169078
E-mail:sblho@bangla.net
SWIFT: SDBLBDDH
SUMMERY
Established :
May, 1999
Incorporation No. :
C-37713
Incorporation dated :
11th May,1999
Managing Director & CEO :
Mr. Mosharraf Hossain
Employees
449
Executives- 90
Senior Executives- 185
Junior Officers- 76
Assistant Officers- 98
NO OF BRANCES
22
OFFICE AREA
3,800 sq.ft (rented)
FACTORY AREA
N/A
WAREHOUSE AREA
1,500 sq.ft (rented)
DIRECTORS
Ln. Kazi Akramuddin Ahmed -Chairman
Mr. S.A.M.Hossain -Vice Chairman
Mr. Mosharraf Hossain -Managing Director
Mr. Kamal Mostafa Chowdhury
Mr. Mohammad Nurul Islam
Mr. Nani Gopal Saha
Al-Haj.Mohammad Ayub
Mr. Ferozur Rahaman
Mr. Harun Rashid Chowdhury
Mr. M.Monzurul Alam
Mr. Mohammad Abdul Aziz
Mr. Harun-Or-Rashid
Mr. Harun Salam
HISTORY
The subject was established in Dhaka city as schedule bank in 1999 and started
its operation on 3rd June,1999.
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.1250 million
Paid Up Capital :
Tk 910.80 million
Total Assets :
Tk.14.14 billion
Total Deposits :
Tk.12.04 billion
Total Investments (Loan & Advances) :
Tk.10.18 billion
Earning Per Share :
Tk.34.29
BALANCE SHEET
for
the year ended 31 December,2005
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PROPERTY & ASSETS |
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CASH |
1,230,528,886 |
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Cash in hand (including foreign currencies) |
128,073,271 |
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Balance with Bangladesh bank & Sonali Bank |
1,102,455,615 |
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BALANCE WITH OTHER BANKERS AND FINANCIAL INSTITUTIONS: |
690,743,337 |
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In Bangladesh |
693,452,962 |
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Outside Bangladesh |
(2,709,625) |
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MONEY AT CALL AND ON SHORT NOTICE |
380,000,000 |
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INVESTMENT |
1,272,464,400 |
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Government |
1,270,464,400 |
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Others |
2,000,000 |
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LOAN & ADVANCES: |
10,183,585,504 |
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Loans, cash credit & Over Draft etc |
9,824,246,328 |
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Bills Discounted and Purchased |
359,339,176 |
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FIXED ASSETS INCLUDING PREMISES FURNITURE & FIXTURE |
55,378,881 |
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OTHER ASSETS |
629,063,054 |
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NON-BANKING ASSETS |
------------- |
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TOTAL ASSETS |
14,441,764,062 |
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LIABILITES & CAPITAL |
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Borrowings from other banks, financial institutions and agents |
180,000,000 |
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DEPOSITS AND OTHER ACCOUNTS: |
12,043,387,793 |
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Current Account & other Accounts |
2,167,409,966 |
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Bills payable |
149,289,156 |
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Savings Bank Deposits |
452,738,929 |
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Fixed Deposits |
8,878,716,901 |
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Other Deposits |
395,232,841 |
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OTHER LIABILITIES |
806,020,513 |
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TOTAL LIABILITIES |
13,029,408,306 |
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CAPITAL/ SHAREHOLDERS EQUITY |
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Paid up Capital |
910,800,000 |
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Statutory Reserve |
305,847,404 |
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Bonus Share |
----------------- |
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Surplus in Profit and Loss Account |
195,708,352 |
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TOTAL SHAREHOLDERS EQUITY |
1,412,355,756 |
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TOTAL LIABILITIES & SHAREHOLDERS EQUITY |
14,441,764,062 |
PROFIT & LOSS
ACCOUNT
for the year ended
31 December,2005
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OPERATING INCOME |
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Interest Income |
1,248,025,538 |
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Less : Interest paid on Deposits & Borrowing etc |
735,166,414 |
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Net Interest Income |
494,859,124 |
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Interest from Investment |
68,107,823 |
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Commission, Exchange Earning & Brokerage |
250,970,679 |
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Other Operating Income |
35,235,772 |
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TOTAL OPERATING INCOME |
849,173,398 |
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OPERATING EXPENSES |
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Salary & Allowances |
106,890,794 |
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Rent, taxes Insurance Lighting etc |
31,118,817 |
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Legal Expenses |
313,513 |
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Postage, Stamps Telecommunication etc |
9,440,802 |
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Stationary Printing Advertisement etc |
9,008,057 |
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Managing Directors salary & fees |
2,978,645 |
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Directors Fee & Meeting Expenses |
2,092,389 |
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Audit Fee |
40,000 |
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Charges on loan losses |
---------- |
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Depreciation and Repair of Bankers Assets |
11,990,156 |
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Other Expenses |
58,955,468 |
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TOTAL OPERATING EXPENSES |
232,828,641 |
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Profit/ (loss) Before provision |
616,344,757 |
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Provision for loan |
30,239,000 |
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Provision for diminution in value of investments |
------- |
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Other Provision |
-------- |
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Total Provision |
30,239,000 |
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Total Profit (Loss) before |
586,105,757 |
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Provision for Taxation |
273,747,591 |
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Net profit after Taxation |
312,358,166 |
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Add: Balance of Profit brought forward |
571,337 |
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Net Profit available for distribution |
312,929,503 |
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Appropriations: |
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Statutory Reserve |
117,221,151 |
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Proposed Bonus Shares |
------------ |
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Retained Earnings |
195,708,352 |
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Earning per Share |
34.29 |
Auditors
Khan Wahab Shafique Rahman & Co.
55, Dilkusha Commercial Area,
Dhaka-1000,
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 22 branches all over the country and they are
quite popular among their clients. They are contemplating to increase more
branches and by the year end there will be more 3 branches in various
commercially important place.
Mr. Mosarraf Hossain, the managing director of the bank is an
experienced banker and knows his job well. The other executive are also
experienced bankers.
Subject can be considered good for normal business dealings at usual
trade terms and conditions.
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%)