MIRA
INFORM REPORT
|
Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ARAB BANGLADESH BANK LIMITED |
|
|
|
|
Registered Office : |
395, Khatunganj, Chittagong |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
31.02.1981 |
|
|
|
|
Com. Reg. No.: |
C - 9692 |
|
|
|
|
Legal Form : |
Public Limited Bank |
|
|
|
|
Line of Business : |
Subject is engaged in general banking |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Report on
Arab Bangladesh Bank Limited
Address
395, Khatunganj,
Chittagong,
Bangladesh.
Telephones: 880-31-611035-6, 630423
Fax: 880-31-611176
Telex: 633036 ABBKG BJ
E-mail: ktg@abbank.com.bd
Registered Office
BCIC Bhaban,
30-31,Dilkusha Commercial Area,
Dhaka-1000,
Tel.880-2-9560312,
Fax.880-2-9564122-23
SWIFT Code-ABBL BD DH
E-Mail.abbank@abbank.com.bd
SUMMARY
Established : December, 1981
Incorporation No. : C-9692
Incorporation Dated : 31st December, 1981
Managing Director & CEO : Mr.Kaiser A.Chowdhury
Date of Opening Branch : 11th April,1983
Employees
35
Executives-
Junior Executives-
Senior Officer
Junior Officer
Supervisory Staffs-
Support Staffs-
General Staffs-
NO OF BRANCHES
70
OFFICE AREA
2,800 sq. ft.(rented)
FACTORY AREA
N/A
WAREHOUSE AREA
1,500 sq .ft.(rented)
DIRECTORS & SHAREHOLDERS
Mr.Faisal M.Khan -Chairman
Mr.Sajedur Seraj -Vice Chairman
Mr.Kaiser A. Chowdhury -President & Managing Director
Mr.D.S.Faisal Hyder
Mr.Golam Sarwar
Mr.M.Tipu Sultan
Mr.S.M.Salahuddin
HISTORY
Subject was established in December, 1981 by Mr.Kaiser A.Chowdhury and the other directors in Dhaka city. The company opened its branch in 11th April, 1983 in Khatunganj, Chittagong.
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
AB International Finance Ltd.
ENLISTED WITH
1 Dhaka Stock Exchange Limited, Dhaka
1 Chittagong Stock Exchange Limited, Chittagong
STOCK CODE
abbnk
LEGAL FORM
The subject is a Public Limited Bank incorporated with the Registrar of Joint Stock of Companies Dhaka.
BALANCE SHEET
31 DECEMBER, 2006
|
PROPRTIES AND ASSETS |
|
|
Cash |
3,247,071,614 |
|
In hand (Including foreign currencies ) |
519,829,203 |
|
Balance with Bangladesh bank and its agent bank(s) |
2,727,242,411 |
|
Balance with other banks and financial institutions |
1,273,352,219 |
|
In Bangladesh |
230,470,168 |
|
Outside Bangladesh |
1,042,882,051 |
|
Money at call and on short notice |
517,150,308 |
|
Investments |
6,301,289,023 |
|
Government |
4,817,154,007 |
|
Others |
1,484,135,016 |
|
Lands and advances |
31,289,251,217 |
|
Loans, cash credits, overdrafts etc |
29,486,234,780 |
|
Bills purchased and discounted |
1,803,016,437 |
|
Fixed assets including premises, furniture and fixtures |
1,148,462,590 |
|
Other assets |
4,212,760,251 |
|
Non-banking assets |
------------------ |
|
Total Assets |
47,989,337,222 |
|
LIABILITIES AND CAPIATAL |
|
|
Liabilities Borrowings from other banks, financial institutions |
|
|
And agents |
1,297,378,229 |
|
Deposits and other accounts |
42,076,995,417 |
|
Current deposits |
4,159,604 |
|
Demand deposits |
2,176,159,548 |
|
Bills payable |
538,583,214 |
|
Savings bank deposits |
8,179,509,291 |
|
Short-term deposits |
2,620,786,358 |
|
Fixed deposits |
23,363,898,951 |
|
Bearer certificates of deposit |
140,863,710 |
|
Other deposits |
897,589,754 |
|
Other liabilities |
2,032,200,664 |
|
Total Liabilities |
45,406,574,310 |
|
Capital/ Shareholders’ Equity |
|
|
Paid Up Capital |
571,740,000 |
|
Statutory reserve |
772,867,621 |
|
Other serve |
683,597,039 |
|
Retained earnings |
554,558,252 |
|
Total Shareholders’ Equity |
2,582,762,912 |
|
Total Liabilities and Shareholders’ Equity |
47,989,337,222 |
|
|
|
|
Off-Balance Sheet Items |
|
|
Contingent Liabilities |
|
|
Acceptances and endorsements |
2,974,762,808 |
|
Letter of guarantee |
2,920,556,934 |
|
Irrevocable letters of Credit |
7,802,605,638 |
|
Bills for collection |
2,571,462,007 |
|
Other contingent liabilities |
4,842,892,133 |
|
|
21,112,279,519 |
PROFIT & LOSS ACCOUNTS
31 DECEMBER, 2006
|
Operating Income |
|
|
Interest income |
3,378,338,544 |
|
Interest paid on deposits, borrowings etc |
(2,762,833,939) |
|
Net interest income |
615,504,605 |
|
Investment income |
974,515,836 |
|
Commission, exchange and brokerage |
740,610,379 |
|
Other income |
319,535,254 |
|
|
2,034,661,469 |
|
Total operating income(a) |
2,650,166,074 |
|
Operating Expenses |
|
|
Salary and allowances |
563,558,879 |
|
Rent, taxes insurance, electricity etc |
111,800,004 |
|
Legal expenses |
1,272,304 |
|
Postage, stamps, telecommunication, etc |
34,257,906 |
|
Stationery, printing, advertisement, etc |
27,218,559 |
|
Chief executive’s salary and fees |
5,119,996 |
|
Directors fees |
950,547 |
|
Auditors fees |
450,700 |
|
Charges on loan losses |
-------------- |
|
Depreciation and repairs of Bank’s assets |
85,039,847 |
|
Other expenses |
1,109,810,983 |
|
Total operating expenses (b) |
1,939,479,724 |
|
Profit before provision (c=a-b) |
710,686,349 |
|
Provision against loans and advances |
162,500,000 |
|
Provision for diminution in value of investments |
16,000,000 |
|
Other provision |
--------------- |
|
Total provision (d) |
178,500,000 |
|
Profit before taxation (c-d) |
532,186,349 |
|
Provision for taxation |
-------------- |
|
Net profit after taxation |
532,186,349 |
|
Appropriations |
|
|
Statutory reserve |
106,437,270 |
|
General reserve |
--------------- |
|
Dividends, etc |
--------------- |
|
|
106,437,270 |
|
Retained surplus |
425,749,080 |
|
Earning per share (EPS) |
93.08 |
AUDITOR
S.F.Ahmed & Co
Chartered Accountant
Dhaka
CAPITAL STRUCTURE
Authorized Capital Tk.2000 million
Paid Up Capital Tk.571.74
EXCHANGE RATE
GB Pound 1.00=Tk.140.1706
US Dollar 1.00=Tk. 69.4850
Europe Euro 1.00=Tk. 94.9041
Japanese Yen 1.00=Tk. 0.5712
Australian Dollar 1.00=Tk. 59.7270
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
|
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)