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MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
NILEIN INDUSTRIAL DEVELOPMENT BANK GROUP (NIDBG) |
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Registered Office : |
El Nilein Building, United Nation Square Street, PO Box 1722, Khartoum |
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Country : |
Sudan |
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Date of Incorporation : |
08.03.1993 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Banking Services |
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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Maximum Credit Limit : |
US$ 2,500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NILEIN INDUSTRIAL DEVELOPMENT BANK GROUP (NIDBG)
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 8th March 1993
Issued Capital : SD 10,000,000,000
Paid up Capital : SD 10,000,000,000
Total Workforce : 2,000
Line of Business : Banking services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
NILEIN INDUSTRIAL DEVELOPMENT BANK GROUP (NIDBG)
ADDRESS
Registered & Physical Address
Building : El Nilein
Building
Street : United
Nation Square Street
PO Box : 1722
Town : Khartoum
Country : Sudan
Telephone : (249-183)
780082 / 773939 / 780750
Facsimile : (249-183)
780776
Premises
Subject operates from a large suite of offices that are owned and
located in the Central Business Area of Khartoum.
Branch Office (s)
Subject operates a network of 42 branches located
throughout Sudan as well as a branch office in Abu Dhabi.
KEY PRINCIPALS
· Wagi Ullah
Abdullah General
Manager
· Mohamed Abbas Al
Agab Assistant
General Manager
· Abdul Qader Hassam Operations
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 8th
March 1993
Legal Form : Limited Liability
Company
Issued Capital : SD 10,000,000,000
Paid up Capital : SD 10,000,000,000
Name of Shareholder (s) Percentage
· Government of
Sudan 100%
AFFILIATED COMPANIES
· The Industrial
Bank Company
Khartoum
Sudan
LINE OF BUSINESS
Operations: NIDBG is a pioneering developmental banking institution in financing
industrial
development projects in all sectors (food
industry, chemical industry, textile, construction materials, medicines,
engineering workshops etc.)
Subject has a workforce of approximately 2,000 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Sudan are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Nilein Industrial Development Bank Group (NIDBG) was established
approximately 15 years ago and offers a range of financial services
specialising in industrial financing.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s banking practices. As such the company is
considered to be a fair trade risk.
Maximum suggested credit figure: US$ 2,500,000
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%)