MIRA INFORM REPORT

 

 

 

Report Date :

19.09.2008

 

IDENTIFICATION DETAILS

 

Name :

DUTCH BANGLA BANK LIMITED

 

 

Registered Office :

Sena Kalyan Bhaban (3rd & 4th Floor), 195, Motijheel Commercial Area, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

04.07.1995

 

 

Com. Reg. No.:

C-28754

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

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

 

COMPANY DETAILS

 

Name:                                                  Dutch Bangla Bank Limited

 

Address:                                   Sena Kalyan Bhaban (3rd & 4th Floor),

195, Motijheel Commercial Area,

                                                Dhaka-1000

                                               

Country:                                   Bangladesh      

 

Tel No:                                     880-2-7176390-93

 

Fax No:                                    880-2-9561889

 

E-Mail:                                     dbbl@bdmail.net
                       

Established:                             July 1995

 

Incorporation No:                     C-28754

 

Incorporation Date:     4th July 1995

 

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

            Incorporated in the Registrar of Joint Stock of 

            Companies, Dhaka.

 

Stock Code:                             dubbl

 

Business Type:                         General Banking

 

 

LOCATIONS

 

Head Office:                             Sena Kalyan Bhaban (3rd & 4th Floor),

195, Motijheel Commercial Area,

                                                Dhaka-1000

 

Tel No :                                   880-2-7176390-93         

 

Fax No :                                  880-2-9561889

 

E-Mail:                                     dbbl@bdmail.net                                              

 

Branch:                                   40

 

S.W.I.F.T.:                                DBBL BD DH 

 

DIRECTORS

 

Name:                          Mr.Zahed Hossain Khan

Designation:               Chairman

 

Name:                          Mr.M.Yeasin Ali

Designation:               Managing Director

 

Name:                          Mrs.Momtaj Islam

Designation:               Director

 

Name:                          Mr.Bernhard Frey

Designation:                Director

 

Name:                          Mr.Shahabuddin Ahmed

Designation:                Director

 

Name:                          Mr.Abu Hasnat M.Rashidul Islam

Designation:                Director

 

Name:                          Mr.M.Shahidur Rahman

Designation:                Director

 

 

BUSINESS DETAILS

 

Line of Business:                     General Banking

 

Range of Services:                  1 Consumer Credit

                                                1 Personal Loan

                                                1 Small Business Loan

                                                1 Building Repair Loan

                                                1 Savings Accounts

                                                1 Short Term Deposit Account

                                                1 Fixed Deposit Receipt Account

                                                1 Opening Account

                                                1 Standard Settlement Instruction

                                                1 Remittance

                                                1 DBBL-NEXUS Classic Card (debit)

                                                1 DBBL-NEXUS Maestro card (debit)

                                                1 DBBL-NEXUS VISA Electron card (debit)

                                                1 DBBL-NEXUS Silver OD card (credit)

                                                1 DBBL-NEXUS Gold OD card (credit)

 

FINANCIAL INFORMATION

 

BALANCE SHEET

AS AT 31 DECEMBER 2007

 

PROPERTY AND ASSETS

Taka

Cash

 

In Hand (including foreign currencies) Balance with Bangladesh Bank and its 

987,934,330

 Including foreign currencies.

3,205,133,707

Balance with other banks and financial institutions

 

In Bangladesh

4,599,778,604

Outside Bangladesh

253,791,716

 

4,853,570,320

Money at call and short notice 

2,050,000,000

Investments

 

Government

5,887,323,040

Others

  22,000,000

Loans and Advances

 

Loans,  Cash Credits, Over Drafts etc.

24,712,629,050

Bills purchased and discounted

3,656,949,018

 

28,369,578,068

Lease receivables

 1,033,545,144

Fixed assets including land, building, furniture and fixtures

1,147,295,998

Other Assets

1,814,965,631

Non-banking assets

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

Total Assets

49,371,346,238

LIBILITIES AND CAPITAL

 

Liabilities

 

Borrowing from other banks financial institutions and agent

632,702,995

Deposit and other accounts

 

Current deposits and other account

6,683,912,162

Bills Payable

854,109,185

Savings bank deposits

7,709,896,520

Term Deposits

26,862,229,169

 

42,110,147,036

OTHER LIABILITIES

2,858,326,837

Long Term Liability DBBL Industrial Bond

500,000,000

Subordinate debt

935,744,500

TOTAL LIABILITY

47,036,921,368

Shareholder equity

 

Paid up Share Capital

202,135,000

Share Premium

11,067,500

Statutory reserve

842,309,092

Dividend equalization account

25,266,875

Assets revelation reserve

244,900,889

Proposed bonus share

797,865,000

Proposed cash dividend

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

Retained earnings

210,880,514

TOTAL SHAREHOLDERS EQUITY

2,334,424,870

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY

49,371,346,238

 

 

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER, 2007

 

OPERATING INCOME

Taka

Interest-Income

4,865,945,313

Interest-paid on deposits borrowings etc.

3,689,541,720

Net Interest Income

  1,176,403,594

Income from Investment

630,856,377

Commission, Exchange and Brokerage

710,222,616

Other Operating Income 

160,554,593

Total operating income 

2,678,037,179

OPERATING EXPENSES

 

Salary and allowances

542,300,322

Rent, taxes, insurance, electricity etc

159,245,742

Legal expenses

2,522,832

Postage, stamp, telecommunication etc.

24,566,277

Stationery, printing, advertisements etc.

61,239,225

Managing Director's salary & allowances and fees

4,985,100

Directors' fees and expenses

  ------------

Auditors' fees

    300,000

Repair, maintenance and depreciation

204,913,957

 

 

Other expenses

239,294,754

Total operating expenses 

1,239,360,210

Profit before provision  

1,438,667,970

 

 

Provision for loans & balance sheet  expenses

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

Specific provision for loans

362,607,600

Release loan general provision for kens

92,995,052

General  provision for off balance sheet expourse

92,995,052

 

362,607,600

Other provision

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

Total provision

362,607,600

 

1,076,000,370

Contribution to Dutch Bangla Bank Foundation

53,803,018

Profit before tax 

1,022,257,351

provision for taxation

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

Current tax

756,433,667

Differed Tax

(213,986,826)

 

542,445,,841

Net Profit after taxation for the year

479,810,510

Retained earnings brought forward from previous year

733,385,474

 

1,213,196,984

Appropriations

 

Statutory reserve

204,451,470

Dividend equalization account

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

Bonus share

797,865,000

 

797,865,000

 

1,002,316,470

Retained earning carried forward

210,880,514

Earning per share

237.37

 

Auditors

 

ATA KHAN & CO.

Chartered Accountants

Dhaka

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.400 million

Paid Up Capital

Tk.202.14 million

Each Share Value

Tk.100.00

 

 

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:                   630

Executives-----------------65 

Senior Officers-----------190                                                          

Junior Officers------------211                              

                                                Assistants Officers-------164  

                                     

Office Area:                             2,980 sq.ft (rented)

 

Warehouse Area:                     2,200  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

 

The subject is a public limited company engaged in general banking and other related services. The bank has 40 branches all over the country and they are quite popular among their clients.

 

Mr.M. Yeasin Ali, the managing director of the bank is an experienced banker and knows his job well.

 

The company is good for normal business engagements.

   

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.71

UK Pound

1

Rs.83.57

Euro

1

Rs.65.90

 

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