MIRA INFORM
REPORT
|
Report Date : |
30.04.2011 |
Note: The subject Bank is a non Prime Bank.
IDENTIFICATION DETAILS
|
Name : |
Shahjalal Islami Bank Limited |
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Registered Office : |
Jibon Bima Bhaban (4th Floor), 10 Dilkusha C/A, Dhaka-1000 |
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Country : |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
10.05.2001 |
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Com. Reg. No.: |
C - 42778 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
General Banking. |
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 |
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 |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Shahjalal Islami Bank Ltd |
|
Address |
58
Dilkusha Commercial Area, Dhaka-1000 |
|
Country |
|
|
Telephone No |
880-2-9570795-8, 9570805 |
|
Fax
No |
880-2-9556011 |
|
E-Mail |
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|
Website |
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Established |
10 May 2001 |
|
Company Registration No |
C-42778 |
|
Registration date |
20th
May 2001 |
|
Issuing Authority |
The Registrar of Joint Stock of Companies & Firms, |
|
Legal Status |
Public Limited |
|
Stock Code |
SHAHJABANK |
|
Business Type |
General
Banking |
|
Status |
Satisfactory |
|
Litigation |
NIL |
LOCATIONS
|
Head Office |
Uday
Sanz, Plot No. SE (A), 2/B Gulshan South Avenue, Gulshan-1, Dhaka-1212 |
|
Telephone No |
880-2-8825457,8828142,8824736,8819385,8818737 |
|
Fax
No |
880-2-8824009 |
|
E-Mail |
|
|
Website |
|
|
Branch |
63 |
|
Factory |
N/A |
|
S.W.I.F.T.: |
SJBL
BD DH |
DIRECTORS
|
Name |
Alhaj
Mohammed Solaiman |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
|
|
Designation |
Managing Director
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|
Nationality |
Bangladeshi |
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|
Name |
|
|
Designation |
Vice chairman |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Alhaj Mohammed Younus |
|
Designation |
Vice chairman |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Alhaj Sajjatuz Jumma |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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|
Designation |
Director |
|
Nationality |
Bangladeshi |
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|
Name |
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|
Designation |
Director |
|
Nationality |
Bangladeshi |
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Name |
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|
Designation |
Director |
|
Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
|
Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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|
Designation |
Director |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line
of Business |
General Banking |
|
|
4 Mudaraba Monthly Income 4 Mudaraba Double Money 4 Mudaraba Monthly Deposit 4 Mudaraba Millionaire 4 Mudaraba Hajj Deposit 4 Mudaraba Housing Deposit 4 Mudaraba Small Business 4 Mudaraba Cash Waqf 4 Mudaraba Lakhpoti Deposit 4 Mudaraba Biabho Deposit 4 Mudaraba Mohor Deposit 4 Mudaraba Shikkha Deposit 4 Mudaraba Special Term Deposit |
FINANCIAL INFORMATION
BALANCE SHEET
AS AT
30 SEPTEMBER 2010
|
PROPERTIES
AND ASSETS |
Taka |
|
Cash |
7,669,984,652 |
|
Cash in hand (including foreign currency) |
887,741,679 |
|
Balance with Bangladesh Bank & Sonali Bank (Including foreign Currency) |
6,782,242,973 |
|
Balance
with other banks & Financial Institutions |
1,213,053,098 |
|
In |
1,067,444,036 |
|
Out side |
145,609,062 |
|
Placement
with other Banks & Financial Institution |
3,697,181,235 |
|
Investment
& Share & Securities |
1,804,275,418 |
|
Government |
1,100,000,000 |
|
Others |
704,275,418 |
|
Investments
: |
55,012,733,549 |
|
General Investment etc. |
4
9,416,125,431 |
|
Bill Purchased & Discounted |
5,596,608,118 |
|
|
|
|
Fixed
Assets Including Premises &
Fixtures |
1,282,203,830 |
|
Other
assets |
482,813,441 |
|
Non-Banking Assets |
--------------- |
|
Total
Assets |
71,162,245,223 |
|
|
|
|
Liabilities
& Capital |
|
|
Liabilities |
|
|
Placement from other banks financial institutions |
4,300,000,000 |
|
Deposit and other accounts |
57,700,694,480 |
|
Mudaraba Savings Deposits |
3,928,145,756 |
|
Mudaraba Term Deposits |
3
4,257,559,010 |
|
Other Mudaraba Deposits |
1
3,521,359,910 |
|
Al-Wadeeah Current & Other Deposit Accounts |
5,236,439,324 |
|
Bills Payable |
757,190,480 |
|
Other
Liabilities |
2,521,550,206 |
|
Deferred
Tax Liabilities |
66,613,015 |
|
Total
Liabilities |
64,588,857,700 |
|
Capital
Shareholder Equity : |
|
|
Paid up Capital |
3,425,119,500 |
|
Statuary Reserve |
1,649,576,011 |
|
Retained Earnings |
1,248,067,711 |
|
Asset Revaluation Reserve |
250,624,301 |
|
Total
Shareholder Equity |
6,573,387,523 |
|
Total
Liabilities & Shareholders Equity |
71,162,245,223 |
PROFIT AND LOSS ACCOUNT
FOR
THE PERIOD ENDED 30 SEPTEMBER 2010
|
Particulars |
Taka |
|
Investment Income |
4,623,081,950 |
|
Less: Profit paid on Deposits |
3,189,891,028 |
|
Net Investment Income |
1,433,190,922 |
|
Income from Investment in Shares/securities |
596,830,687 |
|
Commission, Exchange and Brokerage |
1,206,770,948 |
|
Other Operating Income |
177,714,260 |
|
|
1,981,315,895 |
|
Total
Operating Income |
3,414,506,817 |
|
Salaries & Allowances |
471,572,203 |
|
Rent, Taxes, Insurance Lighting etc |
111,893,103 |
|
Legal expenses |
724,860 |
|
Postage, Stamps and telegram, telephone |
11,740,432 |
|
Stationery, printing, Advertisement etc |
29,820,741 |
|
Chief Executive's Salary & Fees |
4,600,000 |
|
Directors' Fees & Expenses |
2,130,782 |
|
Shariah Supervisory Committee's Fees & Expenses |
130,400 |
|
Depreciation & Repairs of Bank's Assets |
47,560,331 |
|
Other Expenses |
179,879,104 |
|
Total Operating Expenses |
860,051,956 |
|
Profit
before provision |
2,554,454,861 |
|
General Provisions for Unclassified Investment |
(127,500,000) |
|
General Provisions for Off-Balance Sheet |
(87,500,000) |
|
Provisions for Other Assets |
(4,500,000) |
|
Total Provision |
(219,500,000) |
|
Total Profit before Provisions for Taxation |
2,334,954,861 |
|
Deferred Tax Expenses |
27,178,923 |
|
Current Tax Expenses |
6
61,021,684 |
|
|
688,200,606 |
|
Net Profit after Taxation |
1,646,754,255 |
|
Appropriations |
|
|
Statutory Reserve |
466,990,972 |
|
Retained Earnings |
1,179,763,283 |
|
|
1,646,754,255 |
|
Profit available for distribution |
|
|
Retained Earnings from previous year |
68,304,428 |
|
Add: Retained Earnings of Current period |
1,179,763,283 |
|
|
1,248,067,711 |
|
Earning Per Share (EPS) |
48.08 |
Auditors
M/S. Syful Shamsul Alam & Co.
Chartered Accounted
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk.6,000 million |
|
Paid
Up Capital |
Tk.3425.12 million |
|
Each
Share Value |
Tk.10 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
|
1 |
114.6226 |
|
U.S Dollar |
1 |
71.1500 |
|
European Euro |
1 |
96.6715 |
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 |
|
N/A |
N/A |
GENERAL INFORMATION
|
Employees |
15,000 |
|
Office
Area (Sq. Ft) |
3,500 sq.ft (rented) |
|
Factory
Area (Sq. Ft) |
N/A |
|
Warehouse
Area (Sq. Ft) |
3,200
sq.ft.(rented) |
|
Export
Market |
N/A |
|
Certifications |
N/A |
|
Group
Name |
N/A |
|
Subsidiaries
/ Affiliates |
N/A |
|
Member |
4 Dhaka Chamber of
Commerce & Industries, 4 |
COMMENTS
The subject is a public limited company engaged
in general banking and other related services. The bank has 63 branches all
over the country and they are quite popular among their clients.
Mr. Md. Abdur Rahman Sarker, the managing director of the bank is an
experienced banker and knows his job well.
The other executive are also experienced bankers.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
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 Company |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.