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MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ES BANK (PANAMA) S.A. |
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Registered Office : |
Calle 53, Marbella, Edificio World Trade Center, Piso 19 |
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Country : |
Panama |
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Date of Incorporation : |
2001 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
All kind of Foreign Banking Operations and
all activities duly authorized by the "Superintendencia de Bancos" (Superintendency
of Banks), of the Republic of Panamá. |
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 : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY
NAME :
ES BANK (PANAMA) S.A.
TRADE NAME :
"EUROPEAN
STANDARD BANK "
TAXPAYER
REGISTRATION : RUC 2532591403433 OPERATING STATUS: Active
MAIN ADDRESS : Calle 53, Marbella, Edificio World Trade Center,
Piso 19
CITY/PROVINCE/STATE :
Panamá/Panamá
COUNTRY : PANAMA
TELEPHONE : (507)265.1652
WEB SITE : www.gespanama.com
SUMMARY
Incorporation : 2001 Operating
Status : Active
Last Capital : US$30,000,000.= Dólares
Finantial Situation : SATISFACTORY
CR-Rating : Good
Payments : Without rating
Business Trend : Undetermined
QUALIFICATION
RATING : Good
PAYMENTS : Without rating
LEGAL BACKGROUNDS
LEGAL STATUS : Joint-Stock
Company
DATE OF INCORPORATION : 20JUL2001
REGISTERED IN : Panama
NOTARY OFFICE : Fifth of Panama
DURATION : Perpetual
REGISTRATION :
Card
403433, Document 253259/ Deed 6773
CURRENT PAID-IN CAPITAL :
US$30,000,000.=
Dollars
LISTED AT STOCK EXCHANGE : No
SHARE VALUE : US$1,000.= Dollars
CURRENT EXCHANGE RATE :
B/.1.=
per 1.00 US Dollar
COMMENTS .-
The capital stock is represented by 30,000 common shares, with a book
value of USD1,000.00, being 20,000 shares issued in favor of "Espirito
Santo Financial Group, S.A." and 10,000 shares issued in favor of
"Euroamerican Finance Corporation Inc."
According to the company's bylaws Mr. Eduardo Javier Quintero Parra will
perform as the Legal Representative of this company.
HISTORY
As the subscribers of the articles of incorporation of this company are
listed: Arturo Gerbaud de la Guardia and Jaime Eduardo Alemán.
BANK (PANAMA) S.A DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
ESPIRITO SANTO SILVA, MIGUEL ABECASSIS President
DA ROCHA BARRETO, MANUEL ALEXANDRE Secretary
AMARAL PENEDO, JORGE MANUEL Treasurer
DA FONSECA ANTUNES, JOSE MANUEL Director/Member
LAURENT, DOMINIQUE BAOUR JEAN-MARIE Director/Member
QUINTERO, EDUARDO Managing
Director
ALEMAN, CORDERO, GALINDO & LEE Resident
Agent
ESPIRITO SANTO FINANCIAL GROUP S.A. Shareholder 66.66%
WHO IS WHO ?
ALEMAN, CORDERO,
GALINDO & LEE
HOME ADDRESS : Edificio Torre Swiss Bank, Piso 2, Calle 53 Este, Urb.Marbella TLF : 2692620
E - MAIL : alcogal@algocal.com
BACKGROUNDS .-
Law Firm.
Fax: 264.3133, PO BOX 6-1014 El Dorado
Other e-mail: maritania.ag@eurasiagroup.ch
Associated as per our database to :
Company Title Tax. Reg. Country
ABACUS INTERNATIONAL SA Registered Agent 3394812629123
PANAMA
ABC COMPANY SA Registered Agent 78825-61-490498 PANAMA
ALCANCE GLOBAL S.A. 78714-31-490149 PANAMA
BRIDGET TRANSPORTATION SA Registered Agent 7659101483922
PANAMA
BRISBANE CORPORATION
PANAMA
BROSTELLA S.A. Registered Agent PANAMA
C.I. ARAGON SA Registered Agent PANAMA
CENTRO DE AGENCIAS S.A. Resident Agent 27530860860 PANAMA
CORPORACION IMPA DOEL S.A. Registered Agent 196847222
PANAMA
EVERGREEN INTERNATIONAL SA Registered Agent PANAMA
INDUSTRIAS DE NATA S.A. Registered Agent 36756079787
PANAMA
JENDEL OVERSEAS SA Registered Agent PANAMA
LEVEX CORP. Registered Agent 9443301524447 PANAMA
MARITANIA: GROUP INTERNATIONAL AKTIENGESELL Registered
Agent 5367358328579 PANAMA
MEDAK INTERNATIONAL S.A. Resident Agent PANAMA
NOVATRON ZONA LIBRE S.A. Registered Agent 16996-58-160442
PANAMA
PAPER FINANCE CORP SA Registered Agent
44431124295776 PANAMA
PECKWATER INTERNATIONAL INC. Resident Agent 9167721518404 PANAMA
PRAESIMPEX SA Registered Agent PANAMA
PROMED OVERSEAS S.A. Registered Agent 99523-21-535048
PANAMA
SANTEX
OVERSEAS S.A. 909939-1-516869 PANAMA
SHIPERA
S.A.
Registered Agent
8660821507999 PANAMA
SIEMENS
S.A.
Resident Agent
49095-36-313707 PANAMA STP TRADING LTD SA Registered Agent PANAMA
TALIMOS
LTD. INC.
Registered Agent 9205171519265
PANAMA
TOURION
CORP.
2822811407584 PANAMA
TRICON
ENERGY INC.
Resident Agent
PANAMA
WEB2YOO
INC Registered Agent PANAMA
WIMMER
OVERSEAS CORP
Registered Agent
5222944333061 PANAMA
RELATED COMPANY(IES)
COMPANY NAME COUNTRY
RELATION
ESPIRITO SANTO FINANCIAL GROUP
S.A. PORTUGAL Shareholder
BUSINESS
MAIN ACTIVITY .-
Subject is engaged in all kind of foreign
banking operations and all activities duly
authorized by the "Superintendencia de
Bancos" (Superintendency of Banks), of the
Republic of Panamá.
FACILITIES .-
Use : Legal Address
COMMENTS .-
The company was established in July 20th,
2001, and started its activity in March 1st,
2002, under an international license granted by the "Superintendencia
de Bancos", of the Repúblic of
Panama.
FINANCIAL INFORMATION
Be advised the company's representatives were most reluctant to
cooperate with our investigations, reason why all of the information obtained
for this report was obtained through our research in different external sources
equally reliable.
GENERAL BALANCE SHEET AS OF 31.12.2007 (12 MONTHS)
Expressed in Balboas (B/.)
B/.
TOTAL ASSETS 820,283,130.=
LIQUID ASSETS 26,512,520.=
TOTAL FOREIGN LOANS 778,571,800.=
TOTAL INVESTMENTS 10,578,710.=
TOTAL FOREIGN DEPOSITS 137,818,950.=
PRIVATE DEPOSITS 57,156,510.=
BANK DEPOSITS 80,654,440.=
TOTAL NET WORTH 47,912,290.=
AVERAGE (12 MONTHS)
TOTAL ASSETS 762,023,330.=
INCOME GENERATING ASSETS 726,190,510.=
TOTAL LOANS 717,646,670.=
TOTAL INVESTMENTS 8,543,840.=
TOTAL NET WORTH 45,331,720.=
LOSS AND INCOME STATEMENT
INTERESTS INCOME 38,440,800.=
OPERATING EXPENSES 32,264,050.=
NET INTERESTS INCOME 6,176,750.=
OTHER INCOME 3,326,070.=
OPERATING INCOME 9,502,820.=
GENERAL EXPENSES 1,961,320.=
PROFIT BEFORE PROVISIONS 7,541,500.=
PROFIT OF PERIOD 5,417,160.=
FINANCIAL SITUATION : SATISFACTORY
ES BANK (Panama) S.A. "EUROPEAN
STANDARD BANK" is a private institution established in
Panama in accordance with the laws of Panama
to give financial services until the year
2104. The documents of the European Standard
Bank are legalized by the Ministry of
Foreign Affairs of Panama.
The European Standard Bank is not a company
or panamanian corporation with the name of
a bank.
The European Standard Bank was created based
on the Know How of its lawful owners.
It is not a Panamanian licensed bank or
registered in the of banks in Panama
because the process of creation of the
European Standard Bank did not require this
license.
THE EUROPEAN STANDARD BANK does not provide
information about their customers to any
government organization. It is mentioned
this is because between years 2004 and 2007
EUROPEAN STANDARD BANK was attacked by
different government structures that worked to
obtain customer data. The South African
Police (working with nicknames in internet) and
the USA Patriot Act several times
destabilized the online service of European to show
it as a criminal structure assisting the
criminal world. It is indicated those people
ignore the legal registration documents and
act against European Standard Bank as if it
were a criminal blacklist organization.
EUROPEAN STANDARD BANK is not a United
Nations structure and is not related to any
organization of the United Nations either,
has no agreement with them, but supports the
programs of the UN to aid against world
poverty.
INSURANCE .-
Unknown.
PAYMENTS RECORD
TRADE REFERENCES .-
COMMENTS .-
Due to the kind of activity developed by this company, the Subject is
not active seeker
of local trade credit.
BANKING INFORMATION
BANKERS
Due to Panamanian Banking Secrecy Laws it is not possible to obtain any
banking details without authorization of the account holder.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.72 |
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UK Pound |
1 |
Rs.81.45 |
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Euro |
1 |
Rs.64.47 |
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%)