MIRA INFORM REPORT

 

 

 

Report Date :

13.11.2008

 

IDENTIFICATION DETAILS

 

Name :

NATIONAL BANK LIMITED

 

 

Registered Office :

18, Dilkusha Commercial Area, P.O. Box No. 3424, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

22.06.1983

 

 

Com. Reg. No.:

C-10593

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

General Banking and Other Related Services

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

COMPANY DETAILS

 

Name:                                                   National Bank Limited

 

Address:                                   18, Dilkusha Commercial Area,

                                                P.O. Box No. 3424,

                                                Dhaka-1000,

                                               

Country:                                    Bangladesh      

 

Tel No:                                      880-2-9563081-5, 7168729-31    

 

Fax No:                                     880-2-9563953, 9569404, 9554314

 

E-Mail:                                      nblho@citechco.net
nblho@nblbd.com

 

Swift Code:                                nbl

                                                           

Established:                              June 1983

 

Incorporation No:                        C-10593

 

Incorporation Date:                     22nd June 1983

 

 

 

 

Legal Structure:                         The subject is a Public Limited Company that was 

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Business Type:                          General Banking

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                              18, Dilkusha Commercial Area,

                                                P.O. Box No. 3424,

                                                Dhaka-1000,

 

Tel No:                                      880-2-9563081-5, 7168729-31    

 

Fax No:                                     880-2-9563953, 9569404, 9554314

 

E-Mail:                                      nblho@citechco.net
nblho@nblbd.com         

 

Branch:                                    78

 

 

DIRECTORS

 

Name:                                       Mrs.Parveen Haque Sikder

Designation:                             Chairman

 

Name:                                       Mr.M.Abdur Rahman Sarker

Designation:                             Managing Director

 

Name:                                       Mr.M.G.Murtaza

Designation:                             Director

           

Name:                                       Mr.A.M.Nurul Islam

Designation:                              Director

 

Name:                                       Prof.Mahbub Ahmed

Designation:                              Director

 

Name:                                       Mr.Shahadat Hossain

Designation:                              Director

 

Name:                                       Mr.A.B.Tajul Islam

Designation:                              Director

 

Name:                                       Lt.Col. (rtd) M.Azizul Ashraf

Designation:                              Director

 

Name:                                       Capt.Abu Sayeed Monir

Designation:                              Director

 

 

Name:                                       Mr.A.K.M.Enamul Haque

Designation:                              Director

 

Name:                                       Mr.Zakaria Taher

Designation:                              Director

 

Name:                                       Ms.Helena Rahman

Designation:                              Director

 

Name:                                       Mr.Salim Rahman

Designation:                              Director

 

Name:                                       Mr.S.M.Shameem Rahman

Designation:                              Director

 

 

BUSINESS DETAILS

 

Line of Business:                       General Banking

 

Range of Services:                     1 Saving Deposit

                                                1 Current Deposit

                                                1 Turn Deposit

                                                1 Foreign Currency Deposit

                                                1 NBL Monthly Saving Scheme

                                                1 Overdraft

                                                1 Lease Financing

                                                1 House Building

                                                1 Small Medium Enterprise

                                                1 Consumer Credit Scheme

                                                1 Trade Finance

                                                1 Credit Card

                                                1 NBL Power Card

                                                1 Project Finance

                                                1 Offshore Baking

                                                1 Merchant Banking

                                                1 Syndicate Banking

                                                1 NRB Baking

                                                1 Locker Service

                                                1 Rural Credit

                                                1 Gold International

                                                1 Silver International

                                                1 Power Card

                                                1 Festival Loan

                                                1 Consumer Loan

 

 

 

FINANCIAL INFORMATION

 

BALANCE SHEET

AS AT 31 DECEMBER 2007

 

PROPERTY AND ASSETS

Taka

Cash

 

In Hand (including foreign currencies)

1,077,053,118

Balance with Bangladesh Bank and its agent bank

3,392,525,372

(Including foreign currency)

4,469,578,490

 

 

Balance with other banks and Financial Institutions

 

In Bangladesh

3,096,828,383

Outside Bangladesh

307,324,442

 

3,404,152,825

 

 

Money at call and short notice

1,610,000,000 

Investment

 

Government

6,400,889,578

Others

1,359,500,097

 

7,760,389,675

Loan & Advances

 

Loan cash credit overdrafts etc

33,137,022,140

Bills purchased & discounted

3,338,726,693

 

36,475,748,833

Fixed Assets including land, buildings, furniture and others

1,842,285,827

Other assets

964,808,465

Non banking assets

------------------

Total Assets

56,526,964,115

 

 

Capital Liabilities

 

Borrowing from other Banks, Financial institutions and Agents

687,208,684

Deposits and other accounts

 

Current deposits and other account

8,247,747,032

Bills payables

1,343,146,124

Savings bank deposits

11,423,416,226

Fixed deposits

17,608,092,124

Term deposits

9,322,999,893

Bearer certificate of deposits

15,825,000

 

47,961,226,399

Other Liabilities

3,310,137,744

Total Liabilities

51,958,572,827

 

 

Shareholders’ Equity

 

Paid up Capital

1,208,207,286

Statutory reserve

1,213,260,671

General reserve

632,723,327

Other reserve

826,374,842

Retained earnings

687,825,162

Total shareholders’ Equity

4,568,351,288

Total Liabilities and shareholders’ Equity

56,526,964,115

 

 

 

 

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER, 2007

 

OPERATING INCOME

Taka

Interest-Income

4,288,804,809

Interest-paid on deposits borrowings etc.

2,833,451,519

Net Interest Income

  1,455,353,290

Income from Investment

  1,110,433,657

Commission, Exchange and Brokerage

1,365,290,477

Other Operating Income 

418,107,310

Total operating income 

4,349,184,734

OPERATING EXPENSES

 

Salary and allowances

1,074,963,590

Director fees and other benefits

3,693,878

Rent, taxes, insurance, electricity etc

133,027,460

Legal expenses

9,175,139

Audit fees

300,000

Postage, stamp, telecommunication etc

43,870,573

Stationery, printing, advertisement etc

43,441,642

Managing Director salary and allowance

6,034,306

Charges on loan losses

533,371,446

Repair, maintains and decoration

96,265,311

Other expenses

187,938,453

Total operating expenses 

2,134,081,798

Profit before  provision  

2,215,102,936

 

 

Provision for loans & advances

22,600,000

Specific provision 

157,400,000

General provision

180,000,000

Provision for other classified assets

--------------

Total Provision

180,000,000

Profit before tax

2,035,102,936

 

 

Provision for Tax:

796,992,546

Net profit after tax

1,238,110,390

 

 

Retained earnings brought forward from previous year

409,471,121

 

1,647,581,511

 

 

Appropriations

 

Statutory reserve

(407,020,587)

General reserve

(150,000,000)

Dividend (Bonus share)

(402,735,762)

 

(959,756,349)

Retained earnings carried forward

687,825,162

Earning per share

102.47

 

Auditors         

 

Khan Wahab Shafique Rahman & CO.

Chartered Accountants

Dhaka

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

137.1626

U.S Dollar

1

69.4000

European Euro

1

108.8231

Japanese Yen

1

0.6729

Australian Dollar

1

65.7102

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:                     3,575

Executives-----------------220 

Senior Officers------------303                                                         

Junior Officers------------653                             

                                                Assistants Officers----- 2,399   

             

Office Area:                               4,800 sq.ft (rented)

 

Warehouse Area:                       3,200  sq.ft.(rented)

 

Name of the Group:                    NIL

 

Subsidiaries:                             NIL

                                               

Member:                                   1 Dhaka Chamber of Commerce & Industries, Dhaka

                                                1 Bangladesh Association of Bankers, Dhaka

 

COMMENTS

 

Subject is a public limited company engaged in general banking and other related services. The bank has 78 branches all over the country and they are quite popular among their clients.

 

Mr.M.Abdur Rahman Sarker managing director of the bank is an experienced banker and knows his job well.

 

Subject can be considered normal for business dealings at usual trade terms and conditions.   

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.79

UK Pound

1

Rs.75.41

Euro

1

Rs.61.48

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions