MIRA
INFORM REPORT
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Report Date : |
10.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED COMMERCIAL BANK LIMITED |
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Registered Office : |
Federation Bhaban (4th & 6th Floor),
Motijheel Commercial Area, Dhaka-1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
26.06.1983 |
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Com. Reg. No.: |
C-10863 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
General Banking |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY DETAILS
Name: United Commercial Bank Limited
Address: Federation Bhaban (4th
& 6th Floor),
Motijheel
Commercial Area,
Dhaka-1000,
Country: Bangladesh
Tel No : 880-2-9555075-7, 9568690-3,
Fax No : 880-2- 9560587,
E-Mail: info@ucbl.com
Incorporation No: C-10863
Incorporation Date: 26th June, 1983
Legal Structure: The subject is a Public Limited
Company that was
Incorporated in the Registrar of Joint Stock of
Companies, Dhaka.
Listed in: 1 Dhaka Stock Exchange Ltd (DSE)
1 Chittagong Stock Exchange Ltd (CSE)
Stock Code: ucbl
Business Type:
General Banking
Status: Satisfactory
LOCATIONS
Head Office: 58, Motijheel Commercial Area,
Dhaka-1000
Tel
No 88-02-9555799,
9561054, 9559744, 9550836,
9550833, 9568547-48,
Fax
No 88-02-9568548,
E-Mail info@ucbl.com
SWIFT UCBLBDDHPRB
Branch: 81 branches
Factory: N/A
Warehouse: N/A
DIRECTORS & SHAREHOLDERS
Name: Mr.Md. Jahangir Alam Khan
Designation: Chairman
Name: Mrs. Qamrun Nahar
Designation: Vice Chairman
Name: Mr. Hamidul Huq
Designation: Managing Director
Name : Hajee Yunus Ahmed
Designation : Director
Name : Mr. M. A. Sabur
Designation : Director
Name : Mr. M. A. Hashem
Designation : Director
Name : Mr. Shabbir Ahmed
Designation : Director
Name: Mr. Kazi Enamul Hoque
Designation: Director
Name: Mr. Showkat Aziz Russell
Designation: Director
Name: Mr. Riyadh Zafar Chowdhury
Designation: Director
Name: Mr. Nur Uddin Javed
Designation: Director
Name: Mrs. Aziza Karim
Designation: Director
Name: Mrs. Setara Begum
Designation: Director
BUSINESS DETAILS
Line of Business: General
Banking
Range of Services 1 SMS Banking Service
1
One Stop Service
1
Time Deposit Scheme
1
Monthly Savings Scheme
1
Deposit Insurance Scheme
1
Inward & Outward Remittances
1
Travelers Cheques
1
Import Finance
1
Export Finance
1
Working Capital Finance
1
Loan Syndication
1
Underwriting and Bridge Financing
1
Trade Finance
1
Industrial Finance
1
Foreign Currency Deposit A/C
1
NFCD ( Non Resident Foreign Currency
Deposit Account )
1
RFCD ( Resident Foreign Currency
Deposit Account )
1
Consumer Credit Scheme
1
Locker Service
FINANCIAL INFORMATION
BALANCE
SHEET
As
on 31 December, 2005
|
PROPERTY AND
ASSETS |
Taka |
|
Cash |
2,178,452,042 |
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Cash in hand (Including Foreign Currency) |
652,133,008 |
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Balance with Bangladesh Bank & its agent bank (including Foreign
Currency) |
1,526,319,034 |
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Balance with
Other banks & Financial Institutions : |
623,507,275 |
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In Bangladesh |
253,975,084 |
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Outside Bangladesh |
369,532,191 |
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Money & Call
& Short Notice |
1,670,000,000 |
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Investment |
2,877,478,116 |
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Government |
2,756,893,860 |
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Others |
120,584,258 |
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Loan &
Advances |
20,210,642,370 |
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Loan Cash, Credit overdraft etc |
18,883,425,351 |
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Bill purchased and discounted |
1,327,217,019 |
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Premises and
Fixed Assets |
277,548,953 |
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(Less Description) |
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Other Assets |
974,965,993 |
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Non Banking
Assets |
--------------- |
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Total Assets |
28,812,594,749 |
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Liabilities
& Capital |
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Borrowing from other banks financial institutions and agent etc |
8,929,462 |
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Deposits and
Other account : |
24,559,331,007 |
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Current Deposits and other accounts |
4,488,855,618, |
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Bill payable |
541,593,176 |
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Saving Deposits |
6,861,996,706 |
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Fixed Deposits |
12,666,885,507 |
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Bearer Certificate of Deposit |
----------------- |
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Other
Liabilities |
2,509,469,110 |
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Total
Liabilities |
27,077,729,579 |
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Capital/
Shareholders’ Equity |
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Paid up Capital |
230,157,608 |
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Statutory Reserve |
686,899,231 |
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General Reserve |
358,085,486 |
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Retaining Earning |
459,722,845 |
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Total
Shareholders’ Equity |
1,734,865,170 |
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Total
Liabilities and Shareholders’ Equity |
28,812,594,749 |
PROFIT
& LOSS ACCOUNT
For
the year ended 31 December, 2005
|
Operating Income |
Taka |
|
Interest Income |
2,303,987,311 |
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Interest paid on deposit and borrowings |
(1,195,364,906) |
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Net Interest
Income |
1,108,622,405 |
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Income from investments |
215,152,384 |
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Commission, Exchange & Brokerage |
552,266,846 |
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Other operating Income |
116,577,443 |
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Total Operating
Income |
1,992,619,078 |
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Operating
Expenses |
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Salary & Allowances |
583,011,961 |
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Chief Executive’s including Other fees |
3,457,500 |
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Rent, Tax, Insurance, Electricity etc |
81,512,694 |
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Legal Expenses |
5,122,133 |
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Postage, Stamps, Telegram & Telephone |
23,413,092 |
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Audit Fees |
1,645,000 |
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Printing, Stationery, Advertisement etc, |
18,496,793 |
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Director Fee and other expenses |
1,225,328 |
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Depreciation and repair of Fixed Assets |
56,899,102 |
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Other expenses |
65,381,462 |
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Total Operating
Expenses |
840,165,065 |
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Profit/ (Loss)
before provision |
1,152,454,013 |
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Provision for Loans & Advance |
300,000,000 |
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Provision for diminution in value of investments |
------------- |
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Other Provision |
-------------- |
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Total provision |
300,000,000 |
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Total profit
before income Tax |
852,454,013 |
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Provision for
Taxation |
435,357,685 |
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Retained
Surplus, brought forward |
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Current Tax Expenses |
430,702,971 |
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Deferred Tax Expenses |
4,654,714 |
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Net Profit after
Tax |
417,096,328 |
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Appropriations: |
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Statutory Reserve |
170,490,802 |
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General Reserve |
16,447,918 |
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Dividends |
------------- |
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Retained Surplus |
230,157,608 |
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|
417,096,328 |
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Earning per ordinary share |
181.22 |
EXCHANGE RATE
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CURRENCY |
UNIT |
BANGLADESHI TAKA |
|
Great Britain Pound |
1 |
143.7238 |
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U.S Dollar |
1 |
69.4023 |
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European Euro |
1 |
101.3730 |
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Japanese Yen |
1 |
0.6176 |
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Australian Dollar |
1 |
63.2055 |
GENERAL INFORMATION
No. of Employees: 4,562
Executives-----------------220
Senior Officers------------380
Junior Officers------------750
Assistants
Officers-----3,212
Office Area: 7,900
sq.ft (rented)
Factory Area: N/A
Warehouse Area: 6,200 sq.ft.(rented)
Member 1 Dhaka Chamber of Commerce &
Industries, Dhaka
1 Bangladesh Association of Bankers,
Dhaka
COMMENTS
The subject is a public limited company engaged in general
banking and other related services. The bank has 81 branches all over the
country and they are quite popular among their clients.
Mr. Hamidul Huq, the managing director of the bank is an experienced
banker and knows his 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%)