MIRA INFORM REPORT

Report Date :

30.04.2011

Note: The subject Bank is a non Prime Bank.

IDENTIFICATION DETAILS

Name :	NATIONAL BANK LIMITED

Registered Office :	18 Dilkusha Commercial Area, Dhaka

Country :	Bangladesh

Financials (as on) :	31.12.2009

Year of Establishment :	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 :

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

Maximum Credit Limit :	US$ 60,000.00
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Bangladesh

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

COMPANY DETAILS

Name	National Bank Ltd
Address	2, Sir Iqbal Road, Khulna
Country	Bangladesh
Telephone No	880- 41-721757
Fax No	880- 41-721758
E-Mail	info@nblbd.com
Website	www.nblbd.com
Established	1983
Incorporation No	C-10593
Issuing Authority	Registrar of Joint Stock of Companies, Dhaka.
Legal Status	Public Limited
Stock Code	NBL
Business Type	General Banking
Status	Satisfactory
Litigation	NIL

LOCATIONS

Head Office	18 Dilkusha Commercial Area, Dhaka, Bangladesh
Telephone No	8802-9563081, 9666584
Fax No	8802-9563953, 9669404
E-Mail	ho@nblbd.com
Website	www.nblbd.com
Branch	124
Factory	N/A
S.W.I.F.T.:	NBLBBDDH

DIRECTORS

Name	Mr. Zainul Haque Sikder
Designation	Chairman
Nationality	Bangladeshi

Name	Mr. Neaz Ahmed
Designation	Managing Director
Nationality	Bangladeshi

Name	Mr. Moazzam Hossain
Designation	Director
Nationality	Bangladeshi

Name	Mrs. Parveen Haque Sikder
Designation	Director
Nationality	Bangladeshi

Name	Mr. Alhaj Khalilur Rahman
Designation	Director
Nationality	Bangladeshi

Name	Prof. Mahbub Ahmed
Designation	Director
Nationality	Bangladeshi

Name	Mr. Zakaria Taher
Designation	Director
Nationality	Bangladeshi

Name	Mr. Ron Haque Sikder
Designation	Director
Nationality	Bangladeshi

Name	Mr. Rick Haque Sikder
Designation	Director
Nationality	Bangladeshi

Name	Mr. A K M Enamul Hoque
Designation	Director
Nationality	Bangladeshi

Name	Mr. Salim Rahman
Designation	Director
Nationality	Bangladeshi

Name	Mr. Mabroor Hossain
Designation	Director
Nationality	Bangladeshi

Name	Lt. Col.(Rtd) Md. Azizul Ashraf,Psc
Designation	Director
Nationality	Bangladeshi

Name	Capt. Abu Sayeed Monir
Designation	Director
Nationality	Bangladeshi

BUSINESS DETAILS

Line of Business

General Banking

Range of Services

DEPOSIT PRODUCTS

4 Savings Deposit

4 Current Deposit

4 Term Deposit

4 Short Term Deposit

4 Fixed Deposit

4 Foreign Currency Deposit

4 RFC Deposit

4 NFC Deposit

4 NBL Monthly Saving Scheme

CREDIT PRODUCTS

4 Overdraft

4 Lease Financing

4 House Building

4 Small Medium Enterprise

4 Consumer Credit Scheme

4 Trade Finance

CARDS

4 Credit Card

4 NBL Power Card

FINANCIAL INFORMATION

BALANCE SHEET AS AT DECEMBER 31^st DECEMBER 2009

PROPERTY AND ASSETS	Taka
Cash
In Hand (including foreign currencies)	1,296,017,091
Balance with Bangladesh Bank and Sonali Bank (Including Foreign currencies)	5,553,512,827
	5,426,925,949

Balance with other banks and financial institutions
In Bangladesh	1,952,066,083
Outside Bangladesh	597,406,528
Intragroup Balance	{153,160,173}
	2,396,312,438
Money at call and short notice	1,359,800,000
Investments
Government	8,589,545,870
Others	3,725,658,407
Intragroup Balance	{26,881,080}
	12,288,323,197

Loans & Advances
Loan, Cash, Credit, overdraft etc	61,597,795,428
Bill discounted and Purchased	3,531,490,425
	65,129,285,853
Fixed Assets including Land, Building, Furniture & Fixtures	1,829,104,849
Other Assets	1,743,483,936
Non Banking Assets	384,788,241
Total Assets	91,980,628,432

LIABILITIES & CAPITAL

Borrowing from other Banks, Financial Institutions and Agents	1,539,566,185
Intragroup Balance	148,646,338

Deposit and other accounts
Current Accounts & Other Accounts	10,398,061,333
Bills Payable	1,285,541,183
Savings Bank deposits	16,509,865,813
Fixed Deposits	31,605,724,061
Term Deposits	17,023,623,597
Bearer Certificate Of Deposits	15,825,000
Intragroup Balance	{4,461,805}
	76,834,179,182
Other Liabilities	4,822,668,406
TOTAL LIABILITIES	83,047,767,435

Shareholder Equity:
Paid up Capital	2,873,417,380
Intragroup Balance	{26,881,080}
	2,846,536,300
Statutory Reserve	2,418,373,220
General Reserve	497,723,327
Other Reserve	1,586,842,142
Retained Earnings	1,583,386,008
	6,086,324,697
Total Shareholders’ Equity	8,932,860,997
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY	91,980,628,432

PROFIT AND LOSS ACCOUNT AS AT 31^stDECEMBER 2010

Interest Income	6,821,396,119
Less Interest Paid on Deposits & Borrowing etc.	4,490,344,927
Net Interest Income	2,331,051,192

Income from Investment	1,779,316,931
Commission, Exchange and Brokerage	1,497,570,942
Other Operating Income	942,240,348

Total Operating Income	6,550,179,413

OPERATING EXPENSES

Salary & Allowances	1,533,863,777
Rent, Tax, Insurance, Lighting etc.	189,695,256
Legal & professional Expenses	9,525,056
Postage, Stamps & Telecommunication	38,796,421
Printing, Stationery, Advertisement etc.	110,676,207
Managing Director’s Salary & Allowances	7,120,000
Directors’ Fee & Meeting Expenses	4,012,405
Audit fees	344,415
Charges on Loan losses	855,400,305
Repair, Maintenance & Depreciation	151,899,288
Other Expenses	238,158,258
Total Operating Expenses	3,139,491,388
Profit / (Loss) Before Provision	3,410,688,025

Provision for Loans & Advances
Specific Provision	25,000,000
General Provision	175,000,000
	200,000,000
Provision for classified Assets	-----
Total Provision	200,000,000

Profit Before Tax	3,210,688,025
Effect of changes in Exchange Rates	{200,004}
Profit transferred from Offshore Banking Unit	---
	3,210,488,021

Provision for Taxation	1,151,412,213
Deferred Tax	{22,952,200}
	1,128,460,013
Net Profit After Tax	2,082,028,008
Retained Earning brought forward from previous Year	979,672,190
	3,061,700,198
Appropriations
Statutory Reserve	{639,499,183}
Transferred from General Reserve	135,000,000
Dividend	{973,815,007}
	1,478,314,190

Retained Earnings Carried Forward	1,583,386,008

EXCHANGE RATE

Currency	Unit	Bangladeshi Taka (BDT)
Great Britain Pound	1	137.1626
U.S Dollar	1	69.4000
European Euro	1	108.8231

ADVERSE DATA MONITORING

Dishonored Checks	No Record Found
Debt	No Record Found
Litigation	No Record Found
Performance Defaults	No Record Found
Adverse Press Coverage	No Record Found
Money Laundering	No Record Found

MAXIMUM RECOMMENDED CREDIT

Amount	Based On
US$ 60,000.00	N/A

GENERAL INFORMATION

Employees	244
Office Area (Sq. Ft)	3,400
Factory Area (Sq. Ft)	N/A
Warehouse Area (Sq. Ft)	N/A
Export Market	N/A
Certifications	N/A
Group Name	N/A
Subsidiaries / Affiliates	N/A
Member	4 Dhaka Chamber of Commerce & Industries, Dhaka 4 Bangladesh Association of Bankers, Dhaka

COMMENTS

The subject is a public limited company engaged in general banking and other related services. The bank has 45 branches all over the country and they are quite popular among their clients.

Mr. Neaz Ahmed, 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.44.38
UK Pound	1	Rs.73.88
Euro	1	Rs.65.83

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	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
----	NB	New Business	----

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.