MIRA
INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
AB BANK LTD |
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Formerly Known As : |
BANGLADESH BANK LTD |
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Registered Office : |
Bcic Bhaban 30-31 Dilkusha C/A 3522 Dhaka, 1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
31.12.1981 |
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Legal Form : |
Public Independent |
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Line of Business : |
Commercial Banking |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
AB Bank Ltd
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Business
Description
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AB Bank Limited (the Bank) is a private commercial bank. The Bank
through its branches and non-banking subsidiary provides a range of financial
services and products in Bangladesh and in certain international markets. It
provides retail banking, corporate banking, small and medium enterprises
(SME) banking, non-resident Bangladeshi (NRB) banking, Islami banking,
investment banking, merchant banking and project finance, loan syndication,
money transfer, custodial service, and brokerage services. The Bank’s other
customer services includes new cheque book, lost cheque book, lost
credit/debit card, account opening, address change, signature change, account
closing and account transfer. The Bank has a subsidiary company, AB
International Finance Limited. As of December 31, 2009, the Bank had 78
branches, including one Islami banking branch and one overseas branch in
Mumbai, India. In 2009, it obtained permission to operate off shore banking
unit (OBU). For the nine months ended 30 September 2010, AB Bank Ltd's total
interest income increased 18% to BDT7.88B. Net interest income after LLP
increased 53% to BDT2.18B. Net income increased 50% to BDT3.33B. Interest
income reflects an increase in loans & advances and decreased interest on
deposits. Net income was partially offset by an increase in salary &
allowances, higher depreciation charges and an increase in other expenses. |
Industry
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Industry |
Commercial Banks |
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ANZSIC 2006: |
6221 - Banking |
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NACE 2002: |
6512 - Other monetary intermediation |
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NAICS 2002: |
52211 - Commercial Banking |
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UK SIC 2003: |
65121 - Banks |
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US SIC 1987: |
6029 - Commercial Banks, Not Elsewhere
Classified |
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Key Executives
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News
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1 - Profit & Loss Item Exchange Rate: USD 1 = BDT 69.02693
2 - Balance Sheet Item Exchange Rate: USD 1 = BDT 69.26
Corporate Overview
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Executives Report
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New MD of
Exim Bank
Financial Express (India): 26 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
26 -- M Fariduddin Ahmed
FE Report
Renowned banker M
Fariduddin Ahmed has joined Exim Bank as the Managing Director. Prior to his
new assignment, he was the Head of Islamic Banking Division of AB Bank Ltd.
Mr Ahmed started
his banking career in Sonali Bank. He served in that Bank as Branch Manager,
Faculty Member of Staff College, Head of Electronic Data-processing Department
and other departments of that Bank for several years.
Later on, he
joined Islami Bank Bangladesh Limited on the date of its launching on August
30,1983 and played a key role in the development of Islamic banking systems
& procedures. He also contributed a lot in devising & introducing
Islamic banking accounting systems & the principles of distribution of
profit to various participating fund. He also edited the Investment Manual for
financing under Islamic principles.
He has attended
various training programs, seminar, symposium & workshop on Islamic banking
and economics at home and abroad. For this he visited USA, UK, KSA, China, Hong
Kong, Thailand, Macau, Iran, UAE, Qatar, Bahrain, Pakistan, Singapore,
Indonesia, India, Nigeria, Switzerland, France, Germany, Japan and other parts
of the world.
M. Fariduddin Ahmad
was born on July 25, 1947. He hails from village Thakurmallik under Babuganj,
Barisal and is the eldest son of Late Mafizur Rahman. Published by HT
Syndication with permission from The Financial Express. For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
Stocks rebound
with higher turnover
United News of Bangladesh: 24 August 2011
[What follows is the full text of the news story.]
Dhaka, August 24,
2011 (UNB) -- Share prices at the country�s premier bourse Dhaka Stock
Exchange (DSE) bounced back on Tuesday with the highest turnover since August 7
this year.
The turnover that
hit a record low on Tuesday since May 26 this year stood at Tk 5447.919 million
on Wednesday.
The turnover went
down to Tk 2856.458 million on Tuesday that was Tk 2964.873 million on May 26
this year. The single-day turnover was Tk 3036.122 million on Sunday. The
measures taken by the Securities and Exchange Commission (SEC) to stabilise the
capital market cast a positive impact on it today, said a stocks broker.
He said the
investors went for heavy buying for the shares of those which face value is Tk
100, as the SEC decided to convert those shares� face value at Tk 10.
The decision
played a role in increasing the share prices of some banks like AB Bank (Tk
23.5 increased), Bank Asia (Tk 34 increased), BRAC Bank (Tk 27.25 increased),
City Bank (Tk 21 increased) and Dutch Banla Bank Ltd (Tk 81.5 increased).
The DSE key index
DGEN gained 85.86 points or 1.42 percent to close at 6131.48 at the end of a
three-hour trading of the day.
The index lost
11.76 points or 0.19 percent on Tuesday, 60.62 points or 0.99 percent on Sunday
but gained 74.09 points or 1.22 percent on Thursday last.
Of the issues traded
today, 185 advanced, 65 declined and 5 remained unchanged after the end of the
trading. Trading in the two bourses was closed on Monday on the occasion of
Janmashtami.
Earlier, the
day�s trading started in an upbeat mood turning most of the shares green from
red, and maintained the rising trend till the
The DSE key index
gained over 31.38 points or 0.51 percent to close at 6077 till 11:32 am with
most of the shares performing well.
Of the issues
traded till 11:32 am, 115 advanced and 102 declined while 9 remained unchanged.
The turnover stood at Tk 1590.104 million in the first one hour�s trading.
All the major sectors, including banks, mutual funds, insurance companies,
cement, ceramic and financial institutions, showed an uptrend today.
There are 30 banks
listed with the DSE. Of them, only two banks suffered nominal losses and the
prices of two banks remained unchanged, while the remaining banks gained.
Of the 21
financial institutions, 4 suffered losses and 17 gained. However, a good number
of mutual funds faced losses. Of the traded issues, only 18 gained and 11
suffered losses. And the prices of two remained unchanged.
Meanwhile, only 8
insurance companies among 44 suffered losses, 35 gained and one had no trading.
Food and Allied
category maintained the same trend. Of the 15 listed issues, 11 gained on the
day while only 4 suffered losses.
Chittagong Stock
Exchange (CSE) also saw the rising trend on Wednesday as the Selective
Categories Index (CSCX) increased 111.9526 points or 1.0119 percent to close at
11175.154.
Of the 182 issues
traded at the CSE, 94 advanced, 78 declined and 10 remained unchanged.
(THROUGH ASIA
PULSE)
24-08 2011
AB Exchange (UK)
Ltd launched
Financial Express (India): 23 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
23 -- Murshid Kuli Khan, deputy governor of Bangladesh Bank cutting a cake to
mark the formal opening of AB Exchange (UK) Limited in the UK recently. AB Bank
chairman M Wahidul Haque, directors M.A. Awal, Feroz Ahmed, barrister Syed
Afzal Hasan Uddin and president & managing director Kaiser A Chowdhury also
attended, among others.
AB Bank has
recently opened an exchange company, AB Exchange (UK) Limited in the UK, said a
press release.
Murshid Kuli Khan,
Deputy Governor, Bangladesh Bank inaugurated the operation of the company.
AB Bank Chairman,
M. Wahidul Haque, Directors M.A. Awal, Feroz Ahmed, Barrister Syed Afzal Hasan
Uddin and president & managing director Kaiser A. Chowdhury attended the
formal inaugural ceremony.
The simple
inaugural ceremony was marked by the presence of representatives from the
Bangladesh High Commission and the local community. The Chairman and the
Managing Director of AB Bank introduced the Bank and its operations to the
audience, other speakers welcomed the establishment of AB Exchange (UK) Ltd and
wished its continued success.
Murshid Kuli Khan,
Deputy Governor highlighted various facilities available to non-resident
Bangladeshis.
The programme was
also attended by Mark Barker, CEO of AB Exchange (UK) Limited, Abu Hussain
Khan, Head of Marketing & Business Development of AB Exchange (UK) Ltd,
Barrister Ataur Rahman, Chairman, Greater Sylhet Council in UK, Enam Ali MBE,
Founder - British Curry Award, Nirj Deva, MEP Deputy Lord, Member of the European
Parliament, Ohid Uddin Ahmed, Deputy Mayor of Tower Hamlets Council and
Councillor Mizan Chowdhury, Chair of Tower Hamlets Council. Published by HT
Syndication with permission from The Financial Express. For any query with
respect to this article or any other content requirement, please contact Editor
at htsyndication@hindustantimes.com
AB Exchange in UK
New Nation (Bangladesh): 23 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
23 -- AB Bank has opened an Exchange company in the UK. MurshidKuli Khan,
Deputy Governor, Bangladesh Bank inaugurated the operation of thecompany AB
Exchange (UK) Ltd recently.
AB Bank Chairman,
M. Wahidul Haque, Directors MA Awal, FerozAhmed, Barrister Syed Afzal Hasan
Uddin and Managing Director Kaiser AChowdhury attended the formal inaugural
ceremony.
The simple
inaugural ceremony was marked by the presence ofrepresentatives from the
Bangladesh High Commission and the localcommunity.
The Chairman and
the Managing Director of AB Bank introducedthe Bank and its operations to the
audience, other speakers welcomed theestablishment of AB Exchange (UK) Ltd and
wished its continued success. MurshidKuli Khan, Deputy Governor highlighted
various facilities available tonon-resident Bangladeshis.
The programme was
also attended by Mark Barker, CEO of ABExchange (UK) Ltd, Abu Hussain Khan,
Head of Marketing and Business Developmentof AB Exchange (UK) Ltd, Barrister
Ataur Rahman, Chairman, Greater SylhetCouncil in UK, Enam Ali MBE, Founder -
British Curry Award, Nirj Deva, MEPDeputy Lord, Member of the European
Parliament, Ohid Uddin Ahmed, Deputy Mayorof Tower Hamlets Council and
Councillor Mizan Chowdhury, Chair of Tower HamletsCouncil. Published by HT
Syndication with permission from The New Nation. For any query with respect to
this article or any other content requirement, please contact Editor at
htsyndication@hindustantimes.com
AB Bank gets
approval for opening 2nd branch in India
Financial Express (India): 11 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
11 -- The authorities of AB Bank Limited have stated that Bangladesh Bank vide
its letter dated August 8, 2011, has accorded its approval to AB Bank Limited
for opening of its second branch in Kolkata of India and remittance of US$15
million to Mumbai branch of AB Bank Limited being the additional paid-up
capital as required for the purpose under the provision of Reserve Bank of
India, according to DSE website. Published by HT Syndication with permission
from The Financial Express. For any query with respect to this article or any
other content requirement, please contact Editor at
htsyndication@hindustantimes.com
BANGLADESH
NEWSPAPER HIGHLIGHTS - AUG 10, 2011
Asia Pulse Businesswire: 10 August 2011
[What follows is the full text of the news story.]
DHAKA, Aug 10Asia
Pulse - Highlights of today's newspapers:
DAILY STAR:
- 3G licences will
be given through auction The government yesterday finalised the process of how
it will charge four mobile operators -- Grameen-phone, Banglalink, Robi and
Citycell -- for renewing their licences for the next 15 years.
- Economists do
not foresee any major bad impacts on the export of garments from Bangladesh for
a grimy economic situation in the European Union and United States, as the problems
are temporary.
- The government
will open performance audit this fiscal year into five key ministries and
divisions, which on an average spend around 40 percent of the total budget
together, to ensure proper use of their funds.
- Banglalion
Communications Ltd will raise Tk 400 crore through issuing zero coupon bonds,
officials said yesterday.
- he government
will offload the shares of state banks after those of the state owned
enterprises (SoEs) to make the stockmarket a centre of investment.
- Bangladesh Bank
is set to release banknotes of five denominations with the portrait of
Bangabandhu Sheikh Mujibur Rahman on Thursday.
- Bangladesh will
face dire consequences without immediate coal extraction, warned the head of
the parliamentary standing committee on energy ministry yesterday. NEW AGE:
- The government
has slashed the licence renewal fee of four mobile companies to around Tk 7,800
crore from the proposed Tk 12,118 crore.
- The general
index of Dhaka Stock Exchange slid again on Tuesday, a day after it was pulled
up by some institutional investors, in volatile trading as some investors went
for late sell-offs because of uncertainty over the market behaviour and the
regulators filing cases against stock manipulators.
- Bangladesh Bank
will introduce new currency notes worth about Tk 9,000 crore of different
denominations before Eid-Ul-Fitr.
- The Securities
and Exchange Commission on Tuesday approved a Tk 150-croreAB Bank 1st Mutual
Fund with a redemption period of 10 years.
ASIA PULSE cg
10-08 1749
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-Swedbank to buy-back SEK5bn in loans |
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Global Banking
News (GBN) |
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[What follows is
the full text of the article.] Global Banking
News-June 8, 2011--Swedbank to buy-back SEK5bn in loans(C)2011 ENPublishing -
http://www.enpublishing.co.uk Global Banking
News - 08 June 2011 Swedish lender
Swedbank AB (SWED-A.SK) (OTCBB: SWDBY) has said that it has received approval
from the Financial Supervisory Authority (FSA) to buy back subordinated
tier-two loans amounting to SEK5bn (USD814m). The approval is
valid until August 31, Swedbank said, adding that it may buy back less than
the approved amount depending on market conditions. The loan buybacks will be
managed by Swedbank Markets and Bank of America Merrill Lynch (NYSE: BAC). The bank said
that it currently has no plans to issue any new subordinated loans to replace
the repurchased shares, adding that it will focus on its core tier-I capital
to secure stability on its balance sheet. Swedbank's core tier-one capital
ratio had increased to 14.9 percent in March 2011, from 7.5 percent in
mid-2008. [Editorial
queries for this story should be sent to gbn@enpublishing.co.uk] ((Distributed
via M2 Communications - http://www.m2.com))
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BANGLADESH : Mr. Kaiser is re-appointed as Managing Director of AB
Bank |
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TendersInfo News |
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[What follows is
the full text of the article.] Mr. Kaiser A.
Chowdhury is re-appointed as AB Bank Limited's President and Managing
Director. He is holding the position since January, 2005. Mr.Chowdhury
started his three and a half decade long banking career with Grindlays Bank
Limited in 1975, having several major positions nationally and
internationally. He has also served ONE Bank Limited as its Deputy Managing
Director from 1999 to 2004. With his leadership AB Bank has received
"The Century ERA Award" in the Gold Category at Geneva 2008 and
"International Quality Summit Award" in the Platinum Category at
New York 2010 by Business Initiative Directions (BID). He is also a
talented writer with 34 publications to his name. Mr.Chowdhury makes active
interest in juvenile literature and has written generously in this genre. He
has been awarded "Agrani Bank Shishu Shahitya Purushkar",
"Chandrabati Academy Swarnapadak", "Sriggan Atish Dipankar
Swarnapadak", and many more for his literary works. Copyright 2011
Euclid Infotech Pvt. Ltd., distributed by Contify.com
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BANGLADESH : Bangladesh Bank and AB Bank sign contract to avail of
Refinance Scheme |
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TendersInfo News |
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[What follows is
the full text of the article.] A contract was
signed between Bangladesh Bank and AB Bank Limited to avail of the Refinance
Scheme under ADB Fund for SME sectors. The deal was signed by Mr. Md. Abul
Kashem, Executive Director of Bangladesh Bank and Mr. Kaiser A. Chowdhury,
President & Managing Director of AB Bank. A total of USD95
million fund has been made, under patronization of ADB and from the SME
Development Project undertaken by Bangladesh Government. This fund will be
utilized by AB Bank Limited to finance SME projects situated outside Dhaka
and Chittagong Metropolitan areas. With the
assistance of ADB fund, Bangladesh Bank is making contract with different
commercial banks and financial institutions to streamline and strengthen the
industrial development of the country, to institutionalize the activities of
the SME Sector and to ensure access to finance. Mr. Majedur
Rahman, AMD and Mr. Moshiur Rahman Chowdhury, Head of SME Banking of AB Bank
Limited and other senior officials from Bangladesh Bank were presented at the
signing ceremony. Copyright 2010
Euclid Infotech Pvt. Ltd., distributed by Contify.com
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Interest & Fees on Loans |
130.9 |
107.0 |
74.8 |
48.1 |
34.6 |
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Interest & Dividends on Investment
Securities |
1.1 |
0.5 |
1.7 |
1.0 |
0.6 |
|
Interest Income, Bank |
132.0 |
107.4 |
76.5 |
49.1 |
35.2 |
|
Interest on Deposit |
85.5 |
73.2 |
54.8 |
36.2 |
22.0 |
|
Interest on Other Borrowings |
3.6 |
4.8 |
0.8 |
4.0 |
2.4 |
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Total Interest Expense |
89.1 |
78.0 |
55.6 |
40.2 |
24.5 |
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Net Interest Income |
42.9 |
29.5 |
20.9 |
9.0 |
10.8 |
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Loan Loss Provision |
8.7 |
10.2 |
7.4 |
2.6 |
5.4 |
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Net Interest Income after Loan Loss Provision |
34.3 |
19.3 |
13.5 |
6.4 |
5.4 |
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Fees & Commissions from Operations |
8.1 |
7.1 |
4.4 |
3.8 |
2.0 |
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Commissions & Fees from Securities
Activities |
7.0 |
5.4 |
5.1 |
0.3 |
0.2 |
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Fees for Other Customer Services |
18.0 |
14.0 |
9.4 |
6.7 |
5.4 |
|
Investment Securities Gains |
40.6 |
29.3 |
24.6 |
13.9 |
4.6 |
|
Other Revenue |
4.7 |
5.3 |
3.2 |
4.9 |
1.6 |
|
Non-Interest Income, Bank |
78.4 |
61.2 |
46.7 |
29.6 |
13.8 |
|
Labor & Related Expenses |
-17.8 |
-15.1 |
-10.2 |
-8.3 |
-7.3 |
|
Depreciation Expense |
-2.3 |
-1.9 |
-1.4 |
-0.8 |
-0.5 |
|
Litigation Expense |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Other Expense |
-16.1 |
-10.4 |
-7.7 |
-19.1 |
-5.0 |
|
Non-Interest Expense, Bank |
-36.3 |
-27.5 |
-19.3 |
-28.2 |
-12.8 |
|
Income Before Tax |
76.4 |
53.0 |
40.9 |
7.7 |
6.3 |
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Total Income Tax |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
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Income After Tax |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
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Net Income Before Extraord Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
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Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
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Income Available to Common Excl Extraord Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
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Income Available to Common Incl Extraord Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
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Basic/Primary Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Basic EPS Excl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Basic/Primary EPS Incl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Diluted Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Diluted EPS Excl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted EPS Incl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
2.3 |
1.9 |
1.4 |
0.8 |
0.5 |
|
Total Special Items |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
76.4 |
53.0 |
40.9 |
7.8 |
6.4 |
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Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Normalized Income After Tax |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
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|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
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Basic Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Diluted Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Rental Expenses |
2.1 |
1.6 |
1.3 |
1.1 |
1.6 |
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Advertising Expense, Supplemental |
0.8 |
0.3 |
0.1 |
0.0 |
0.1 |
|
Bank Total Revenue |
210.4 |
168.6 |
123.2 |
78.7 |
49.0 |
|
Current Tax - Total |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Current Tax - Total |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Deferred Tax - Total |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Deferred Tax - Total |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Income Tax - Total |
26.9 |
19.0 |
13.3 |
0.0 |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
69.555 |
69.085 |
66.225 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
77.3 |
59.4 |
61.8 |
47.0 |
29.2 |
|
Fed Funds Sold/Securities Purch Under Resale
Agrmnt |
44.7 |
38.8 |
35.0 |
25.9 |
14.1 |
|
Other Short Term Investments |
236.3 |
165.4 |
127.7 |
90.9 |
61.3 |
|
Other Earning Assets, Total |
281.0 |
204.2 |
162.7 |
116.8 |
75.4 |
|
Total Gross Loans |
1,040.5 |
836.8 |
588.2 |
452.9 |
322.9 |
|
Net Loans |
1,040.5 |
836.8 |
588.2 |
452.9 |
322.9 |
|
Land/Improvements |
27.4 |
27.7 |
28.5 |
16.1 |
3.5 |
|
Machinery/Equipment |
16.0 |
16.0 |
12.7 |
7.9 |
7.3 |
|
Property/Plant/Equipment - Gross |
43.4 |
43.7 |
41.2 |
24.0 |
10.8 |
|
Accumulated Depreciation |
-8.1 |
-8.2 |
-7.0 |
-7.4 |
-5.2 |
|
Property/Plant/Equipment - Net |
35.2 |
35.5 |
34.2 |
16.6 |
5.6 |
|
Other Assets |
112.2 |
85.9 |
66.6 |
61.3 |
66.2 |
|
Other Assets, Total |
112.2 |
85.9 |
66.6 |
61.3 |
66.2 |
|
Total Assets |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
Interest Bearing Deposits |
1,123.2 |
935.1 |
737.5 |
596.1 |
405.2 |
|
Other Deposits |
76.4 |
59.8 |
29.9 |
13.0 |
7.9 |
|
Total Deposits |
1,199.6 |
994.9 |
767.4 |
609.1 |
413.2 |
|
Fed Funds Purch/Secs Sold under Repurch Agrmnt |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
Total Short Term Borrowings |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
|
|
|
|
|
|
|
Other Liabilities |
110.5 |
81.6 |
54.5 |
29.4 |
34.2 |
|
Other Liabilities, Total |
110.5 |
81.6 |
54.5 |
29.4 |
34.2 |
|
Total Liabilities |
1,398.7 |
1,122.8 |
848.8 |
657.3 |
476.2 |
|
|
|
|
|
|
|
|
Common Stock |
37.0 |
32.4 |
10.7 |
8.3 |
7.8 |
|
Common Stock |
37.0 |
32.4 |
10.7 |
8.3 |
7.8 |
|
Retained Earnings (Accumulated Deficit) |
110.5 |
66.6 |
54.2 |
29.1 |
15.2 |
|
Total Equity |
147.6 |
98.9 |
64.9 |
37.4 |
23.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Total Common Shares Outstanding |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Employees |
1,952 |
1,804 |
- |
- |
- |
|
Number of Common Shareholders |
56,083 |
65,234 |
14,774 |
6,911 |
5,528 |
|
Total Capital Leases, Supplemental |
- |
0.0 |
0.1 |
0.4 |
- |
|
Capital Lease Payments Due in Year 1 |
- |
0.0 |
0.1 |
0.2 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
0.0 |
0.1 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
- |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
- |
- |
0.0 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.0 |
0.0 |
0.0 |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
131.1 |
107.4 |
76.5 |
49.1 |
35.2 |
|
Cash Payments |
-89.0 |
-78.0 |
-55.6 |
-40.2 |
-24.5 |
|
Cash Taxes Paid |
-19.3 |
-13.1 |
-1.8 |
-2.4 |
-1.6 |
|
Other Assets |
189.1 |
214.1 |
157.7 |
217.0 |
-17.0 |
|
Other Liabilities |
53.4 |
21.1 |
13.3 |
-5.2 |
7.5 |
|
Other Operating Cash Flow |
45.5 |
38.1 |
28.6 |
1.8 |
1.1 |
|
Loans, Gains/Losses |
-208.6 |
-240.2 |
-139.8 |
-144.0 |
-68.1 |
|
Changes in Working Capital |
79.4 |
33.1 |
59.8 |
69.6 |
-76.5 |
|
Cash from Operating Activities |
102.2 |
49.5 |
78.9 |
76.2 |
-67.4 |
|
|
|
|
|
|
|
|
Sale of Fixed Assets |
-1.3 |
-2.6 |
-19.0 |
-11.4 |
-0.4 |
|
Sale/Maturity of Investment |
-36.5 |
-16.2 |
-15.1 |
-22.4 |
48.4 |
|
Purchase of Investments |
-35.6 |
-17.6 |
-22.7 |
-9.9 |
-6.6 |
|
Other Investing Cash Flow Items, Total |
-73.4 |
-36.5 |
-56.8 |
-43.6 |
41.3 |
|
Cash from Investing Activities |
-73.4 |
-36.5 |
-56.8 |
-43.6 |
41.3 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-4.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
-4.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt, Net |
0.4 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
Issuance (Retirement) of Debt, Net |
0.4 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
Cash from Financing Activities |
-4.5 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
24.3 |
15.8 |
24.6 |
31.6 |
-23.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
98.1 |
82.9 |
73.2 |
41.8 |
67.7 |
|
Net Cash - Ending Balance |
122.4 |
98.8 |
97.8 |
73.3 |
44.7 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest Income - AB Int., Finance Ltd., |
0.9 |
0.0 |
- |
- |
- |
|
Loans & Advances |
126.9 |
100.9 |
69.0 |
45.5 |
32.5 |
|
Bills purchased and discounted |
1.1 |
0.5 |
1.7 |
1.0 |
0.6 |
|
Interest on Banks |
3.0 |
6.0 |
5.8 |
2.6 |
2.1 |
|
Total Revenue |
132.0 |
107.4 |
76.5 |
49.1 |
35.2 |
|
|
|
|
|
|
|
|
Interest Paid on Deposits-AB Int. F Ltd |
0.1 |
0.2 |
- |
- |
- |
|
Interest Paid on Deposits |
85.4 |
72.9 |
54.8 |
36.2 |
22.0 |
|
Interest on Borrowings |
3.6 |
4.8 |
0.8 |
4.0 |
2.4 |
|
Provision against Loans & Advances |
6.3 |
4.1 |
5.3 |
2.4 |
3.3 |
|
Provision for Dimunution in Value of Inv |
0.0 |
1.7 |
0.1 |
0.2 |
0.0 |
|
Other Provision |
2.4 |
4.4 |
1.9 |
0.0 |
2.1 |
|
Total Operating Expense |
97.7 |
88.2 |
63.0 |
42.8 |
29.9 |
|
|
|
|
|
|
|
|
Interest on treasury bills |
2.6 |
3.1 |
2.9 |
2.7 |
4.2 |
|
Interest on treasury bonds |
11.1 |
5.6 |
0.7 |
0.0 |
0.1 |
|
Interest on others bonds |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Interest on debentures |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Dividend on shares |
1.8 |
2.1 |
0.6 |
0.3 |
0.3 |
|
Gain on Treasury Bills & Treasury Bonds |
1.2 |
0.5 |
- |
- |
- |
|
Capital gain on sale of shares |
25.7 |
20.0 |
20.9 |
11.1 |
0.3 |
|
Prize money of prize bond |
- |
- |
- |
0.0 |
0.0 |
|
Commission, Exg., & Brok. - AB I F L |
0.2 |
0.9 |
- |
- |
- |
|
Commission on letter of credit |
6.4 |
5.1 |
3.4 |
3.1 |
1.4 |
|
Commission on letter of guarantee |
1.5 |
1.1 |
1.0 |
0.7 |
0.6 |
|
Other fees, commission and service charg |
18.0 |
14.0 |
9.4 |
6.7 |
5.4 |
|
Exchange gains less losses arising from |
7.0 |
5.4 |
5.1 |
0.3 |
0.2 |
|
Other income |
3.0 |
3.3 |
2.6 |
4.6 |
1.3 |
|
Salary and allowances |
-17.7 |
-15.0 |
-10.1 |
-8.2 |
-7.3 |
|
Rent, taxes, insurance, electricity, etc |
-3.5 |
-2.6 |
-2.1 |
-1.6 |
-2.2 |
|
Legal expenses |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Postage, stamps, telecommunication, etc |
-1.3 |
-0.9 |
-0.8 |
-0.5 |
-0.4 |
|
Stationery, printing, advertisement, etc |
-1.8 |
-1.0 |
-0.6 |
-0.4 |
-0.4 |
|
Chief executive's salary and fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Directors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation |
-2.3 |
-1.9 |
-1.4 |
-0.8 |
-0.5 |
|
Repairs |
-0.6 |
-0.4 |
-0.4 |
-0.4 |
-0.4 |
|
Depreciation - AB Int. Finance Ltd |
0.0 |
0.0 |
- |
- |
- |
|
Other expenses |
-8.9 |
-5.6 |
-3.8 |
-16.1 |
-1.6 |
|
Total Non-Interest Revenue |
78.4 |
61.2 |
46.7 |
29.6 |
13.8 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-36.3 |
-27.5 |
-19.3 |
-28.2 |
-12.8 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
76.4 |
53.0 |
40.9 |
7.7 |
6.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Net Income After Taxes |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Basic EPS Including ExtraOrdinary Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Diluted Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Diluted EPS Excluding ExtraOrd Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted EPS Including ExtraOrd Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
76.4 |
53.0 |
40.9 |
7.8 |
6.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Normalized Income After Taxes |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Diluted Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Depreciation, Supplemental |
2.3 |
1.9 |
1.4 |
0.8 |
0.5 |
|
Depreciation, Supplemental - AB IFL |
0.0 |
0.0 |
- |
- |
- |
|
Advertising Expense, Supplemental |
0.8 |
0.3 |
0.1 |
0.0 |
0.1 |
|
Rental Expense, Supplemental |
2.1 |
1.6 |
1.3 |
1.1 |
1.6 |
|
Current tax |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Current Tax - Total |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Deferred tax |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Deferred Tax - Total |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Income Tax - Total |
26.9 |
19.0 |
13.3 |
0.0 |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
69.555 |
69.085 |
66.225 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in Hand |
7.1 |
9.9 |
9.6 |
7.5 |
6.8 |
|
Balance with Bangladesh Bank |
70.2 |
49.6 |
52.2 |
39.5 |
22.5 |
|
Balance with other banks and financial i |
36.0 |
21.5 |
26.8 |
18.4 |
8.2 |
|
Money at call and on short notice |
8.7 |
17.3 |
8.3 |
7.5 |
5.9 |
|
Investments - Govt. & Others |
236.3 |
165.4 |
127.7 |
90.9 |
61.3 |
|
Loans, cash credits, overdrafts, etc |
1,006.8 |
789.6 |
565.1 |
426.8 |
309.5 |
|
Bills purchased and discounted |
33.7 |
47.1 |
23.2 |
26.1 |
13.4 |
|
Land & buildings |
27.3 |
27.6 |
27.6 |
13.7 |
3.5 |
|
Furniture & Fixtures |
1.9 |
2.6 |
2.3 |
2.4 |
2.4 |
|
Office Appliances |
0.8 |
0.7 |
0.8 |
0.7 |
0.6 |
|
Electrical Appliances |
8.6 |
8.6 |
7.2 |
4.4 |
3.9 |
|
Motor Vehicles |
4.6 |
3.8 |
2.4 |
0.5 |
0.4 |
|
Leasehold Property |
0.1 |
0.1 |
0.9 |
2.4 |
- |
|
AB International Finance Limited |
0.2 |
0.2 |
- |
- |
- |
|
Accumulated Depreciation |
-8.1 |
-8.2 |
-7.0 |
-7.4 |
-5.2 |
|
Other assets |
112.2 |
85.9 |
66.6 |
61.3 |
66.2 |
|
Total Assets |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
Borrowings from other banks, financial i |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
Current deposits |
93.5 |
73.5 |
62.9 |
60.2 |
51.9 |
|
Other demand deposits |
36.3 |
36.6 |
38.3 |
31.5 |
21.0 |
|
Bills payable |
18.6 |
17.1 |
15.9 |
7.8 |
8.2 |
|
Savings bank deposits |
171.8 |
141.1 |
122.1 |
118.4 |
104.9 |
|
Short term deposits |
227.9 |
73.9 |
48.8 |
37.9 |
34.1 |
|
Fixed deposits |
573.2 |
591.1 |
447.6 |
338.2 |
183.1 |
|
Bearer certificates of deposit |
1.9 |
1.9 |
1.9 |
2.0 |
1.9 |
|
Other deposits |
76.4 |
59.8 |
29.9 |
13.0 |
7.9 |
|
Other liabilities |
110.5 |
81.6 |
54.5 |
29.4 |
34.2 |
|
Total Liabilities |
1,398.7 |
1,122.8 |
848.8 |
657.3 |
476.2 |
|
|
|
|
|
|
|
|
Equity Paid-up capital |
37.0 |
32.4 |
10.7 |
8.3 |
7.8 |
|
Statutory reserve |
44.8 |
30.0 |
19.5 |
11.2 |
9.8 |
|
Other reserve |
13.2 |
9.8 |
10.3 |
9.9 |
2.7 |
|
Retained earnings |
52.5 |
26.8 |
24.4 |
8.0 |
2.7 |
|
Total Equity |
147.6 |
98.9 |
64.9 |
37.4 |
23.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Total Common Shares Outstanding |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Full-Time Employees |
1,952 |
1,804 |
- |
- |
- |
|
Number of Common Shareholders |
56,083 |
65,234 |
14,774 |
6,911 |
5,528 |
|
Capital Lease Payments Due within 1 Year |
- |
0.0 |
0.1 |
0.2 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
0.0 |
0.1 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
- |
0.0 |
- |
|
Total Capital Leases, Supplemental |
- |
0.0 |
0.1 |
0.4 |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
131.1 |
107.4 |
76.5 |
49.1 |
35.2 |
|
Cash Payments |
-89.0 |
-78.0 |
-55.6 |
-40.2 |
-24.5 |
|
Dividend received |
1.8 |
2.1 |
0.6 |
0.3 |
0.3 |
|
Fee and commission receipts |
27.0 |
26.5 |
13.9 |
10.5 |
7.4 |
|
Recoveries on loans previously written o |
0.6 |
0.9 |
0.2 |
1.7 |
0.2 |
|
Payments to employees |
-17.8 |
-15.0 |
-10.2 |
-8.3 |
-7.2 |
|
Payments to suppliers |
-1.8 |
-3.7 |
-0.8 |
-0.8 |
-0.8 |
|
Cash Taxes Paid |
-19.3 |
-13.1 |
-1.8 |
-2.4 |
-1.6 |
|
Receipts from other operating activities |
49.9 |
36.7 |
32.1 |
17.1 |
5.8 |
|
Payments for other operating activities |
-14.2 |
-9.4 |
-7.1 |
-18.7 |
-4.6 |
|
Loans & Advances to Customers |
-208.6 |
-240.2 |
-139.8 |
-144.0 |
-68.1 |
|
Other assets |
-21.3 |
-7.3 |
-6.4 |
3.0 |
-2.4 |
|
Deposits from other banks |
-73.3 |
45.5 |
-10.9 |
69.0 |
2.0 |
|
Deposits from customers |
283.7 |
175.9 |
175.0 |
145.1 |
-16.6 |
|
Trading liabilities (short term borrowin |
41.1 |
16.5 |
5.8 |
-7.9 |
12.9 |
|
Other liabilities |
12.3 |
4.7 |
7.5 |
2.8 |
-5.4 |
|
Cash from Operating Activities |
102.2 |
49.5 |
78.9 |
76.2 |
-67.4 |
|
|
|
|
|
|
|
|
Purchase/sale of government securities |
-36.5 |
-16.2 |
-15.1 |
-22.4 |
48.4 |
|
Purchase/sale of trading securities, sha |
-35.6 |
-17.6 |
-22.7 |
-9.9 |
-6.6 |
|
Purchase/sale of property, plant and equ |
-1.3 |
-2.6 |
-19.0 |
-11.4 |
-0.4 |
|
Cash from Investing Activities |
-73.4 |
-36.5 |
-56.8 |
-43.6 |
41.3 |
|
|
|
|
|
|
|
|
Increase/(decrease) of long term borrowi |
0.4 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
Dividend paid |
-4.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-4.5 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
24.3 |
15.8 |
24.6 |
31.6 |
-23.0 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning o |
98.1 |
82.9 |
73.2 |
41.8 |
67.7 |
|
Cash and cash equivalents at end of year |
122.4 |
98.8 |
97.8 |
73.3 |
44.7 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
Key Indicators USD (mil) |
||||||
|
 |
Quarter |
Quarter |
Annual |
1 Year |
3 Year |
5 Year |
|
Total Revenue1 |
63.3 |
29.31% |
210.4 |
25.56% |
38.95% |
- |
|
Income Available to Common Excl Extraord Items1 |
15.5 |
58.65% |
49.5 |
46.51% |
85.87% |
- |
|
Basic EPS Excl Extraord Items1 |
0.42 |
58.65% |
1.68 |
46.51% |
12.71% |
- |
|
Cash from Operating Activities2 |
21.0 |
-67.69% |
102.2 |
107.65% |
10.40% |
- |
|
Free Cash Flow |
21.0 |
- |
101.8 |
- |
- |
- |
|
Total Assets3 |
1,811.9 |
- |
1,546.2 |
27.20% |
30.68% |
- |
|
Total Liabilities3 |
1,624.0 |
- |
1,398.7 |
25.20% |
28.73% |
- |
|
Total Long Term Debt3 |
0.0 |
- |
0.0 |
- |
- |
- |
|
Employees3 |
- |
- |
1952 |
8.20% |
- |
- |
|
Total Common Shares Outstanding3 |
36.9 |
- |
29.5 |
15.00% |
64.91% |
- |
|
1-ExchangeRate: BDT to USD Average for Period |
69.465054 |
 |
69.026932 |
 |
 |
 |
|
2-ExchangeRate: BDT to USD Average for Period |
69.331145 |
 |
69.026932 |
 |
 |
 |
|
3-ExchangeRate: BDT to USD Period End Date |
69.425000 |
 |
69.260000 |
 |
 |
 |
|
Banking Industry Specific USD (mil) |
||||||
|
 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
|
Interest Income, Bank1 |
132.0 |
107.4 |
76.5 |
49.1 |
35.2 |
|
|
Total Interest Expense1 |
89.1 |
78.0 |
55.6 |
40.2 |
24.5 |
|
|
Loan Loss Provision1 |
8.7 |
10.2 |
7.4 |
2.6 |
5.4 |
|
|
Cash & Due from Banks3 |
77.3 |
59.4 |
61.8 |
47.0 |
29.2 |
|
|
Total Deposits3 |
1,199.6 |
994.9 |
767.4 |
609.1 |
413.2 |
|
|
1-ExchangeRate: BDT to USD Average for Period |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
|
3-ExchangeRate: BDT to USD Period End Date |
69.260000 |
68.910000 |
69.555000 |
69.085000 |
66.225000 |
|
|
Key Ratios |
|||||
|
 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Profitability |
|||||
|
Pretax Margin |
57.85% |
49.30% |
53.47% |
15.75% |
18.01% |
|
Net Profit Margin |
37.50% |
31.65% |
36.12% |
15.75% |
7.18% |
|
Financial Strength |
|||||
|
Long Term Debt/Equity |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Debt/Equity |
0.60 |
0.47 |
0.41 |
0.50 |
1.25 |
|
Management Effectiveness |
|||||
|
Return on Assets |
3.57% |
3.16% |
3.41% |
1.31% |
- |
|
Return on Equity |
40.11% |
41.18% |
53.66% |
25.90% |
- |
|
Efficiency |
|||||
|
Receivables Turnover |
0.22 |
0.23 |
0.24 |
0.21 |
- |
|
Asset Turnover |
0.15 |
0.16 |
0.15 |
0.13 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
130.9 |
107.0 |
74.8 |
48.1 |
34.6 |
|
Interest & Dividends on Investment
Securities |
1.1 |
0.5 |
1.7 |
1.0 |
0.6 |
|
Interest Income, Bank |
132.0 |
107.4 |
76.5 |
49.1 |
35.2 |
|
Interest on Deposit |
85.5 |
73.2 |
54.8 |
36.2 |
22.0 |
|
Interest on Other Borrowings |
3.6 |
4.8 |
0.8 |
4.0 |
2.4 |
|
Total Interest Expense |
89.1 |
78.0 |
55.6 |
40.2 |
24.5 |
|
Net Interest Income |
42.9 |
29.5 |
20.9 |
9.0 |
10.8 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
8.7 |
10.2 |
7.4 |
2.6 |
5.4 |
|
Net Interest Income after Loan Loss Provision |
34.3 |
19.3 |
13.5 |
6.4 |
5.4 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
8.1 |
7.1 |
4.4 |
3.8 |
2.0 |
|
Commissions & Fees from Securities
Activities |
7.0 |
5.4 |
5.1 |
0.3 |
0.2 |
|
Fees for Other Customer Services |
18.0 |
14.0 |
9.4 |
6.7 |
5.4 |
|
Investment Securities Gains |
40.6 |
29.3 |
24.6 |
13.9 |
4.6 |
|
Other Revenue |
4.7 |
5.3 |
3.2 |
4.9 |
1.6 |
|
Non-Interest Income, Bank |
78.4 |
61.2 |
46.7 |
29.6 |
13.8 |
|
Labor & Related Expenses |
-17.8 |
-15.1 |
-10.2 |
-8.3 |
-7.3 |
|
Depreciation Expense |
-2.3 |
-1.9 |
-1.4 |
-0.8 |
-0.5 |
|
Litigation Expense |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Other Expense |
-16.1 |
-10.4 |
-7.7 |
-19.1 |
-5.0 |
|
Non-Interest Expense, Bank |
-36.3 |
-27.5 |
-19.3 |
-28.2 |
-12.8 |
|
Income Before Tax |
76.4 |
53.0 |
40.9 |
7.7 |
6.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Income After Tax |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Basic EPS Excl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Basic/Primary EPS Incl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Diluted Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Diluted EPS Excl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted EPS Incl Extraord Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
2.3 |
1.9 |
1.4 |
0.8 |
0.5 |
|
Total Special Items |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
76.4 |
53.0 |
40.9 |
7.8 |
6.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Normalized Income After Tax |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Diluted Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Rental Expenses |
2.1 |
1.6 |
1.3 |
1.1 |
1.6 |
|
Advertising Expense, Supplemental |
0.8 |
0.3 |
0.1 |
0.0 |
0.1 |
|
Bank Total Revenue |
210.4 |
168.6 |
123.2 |
78.7 |
49.0 |
|
Current Tax - Total |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Current Tax - Total |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Deferred Tax - Total |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Deferred Tax - Total |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Income Tax - Total |
26.9 |
19.0 |
13.3 |
0.0 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
30-Sep-2009 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.465054 |
69.278871 |
69.248352 |
69.101935 |
69.052391 |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
39.1 |
37.9 |
34.2 |
36.3 |
32.8 |
|
Interest & Dividends on Investment
Securities |
1.0 |
0.8 |
0.7 |
-1.4 |
0.9 |
|
Interest Income, Bank |
40.1 |
38.6 |
34.9 |
34.9 |
33.7 |
|
Interest on Deposit |
20.6 |
20.6 |
19.4 |
19.5 |
21.0 |
|
Interest on Other Borrowings |
3.3 |
2.0 |
1.3 |
1.0 |
0.4 |
|
Total Interest Expense |
23.9 |
22.6 |
20.7 |
20.5 |
21.5 |
|
Net Interest Income |
16.2 |
16.1 |
14.2 |
14.3 |
12.2 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
2.1 |
7.5 |
5.5 |
0.6 |
3.2 |
|
Net Interest Income after Loan Loss Provision |
14.1 |
8.6 |
8.7 |
13.7 |
9.0 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
6.3 |
5.6 |
2.9 |
2.0 |
3.1 |
|
Commissions & Fees from Securities
Activities |
2.3 |
2.1 |
1.9 |
2.0 |
2.0 |
|
Fees for Other Customer Services |
2.0 |
2.5 |
3.9 |
5.9 |
3.8 |
|
Investment Securities Gains |
10.7 |
26.8 |
9.6 |
14.1 |
6.1 |
|
Other Revenue |
1.8 |
2.2 |
0.8 |
2.2 |
0.6 |
|
Non-Interest Income, Bank |
23.2 |
39.1 |
19.1 |
26.3 |
15.6 |
|
Labor & Related Expenses |
-6.7 |
-5.4 |
-4.3 |
-5.9 |
-3.8 |
|
Depreciation Expense |
-0.7 |
-0.7 |
-0.6 |
-0.6 |
-0.6 |
|
Litigation Expense |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expense |
-5.4 |
-5.4 |
-4.5 |
-4.5 |
-5.2 |
|
Non-Interest Expense, Bank |
-12.9 |
-11.5 |
-9.5 |
-11.1 |
-9.7 |
|
Income Before Tax |
24.3 |
36.2 |
18.4 |
28.9 |
14.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
8.8 |
17.0 |
5.1 |
11.6 |
5.1 |
|
Income After Tax |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
Net Income |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
36.9 |
36.9 |
29.5 |
14.7 |
36.9 |
|
Basic EPS Excl Extraord Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Basic/Primary EPS Incl Extraord Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Diluted Net Income |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
Diluted Weighted Average Shares |
36.9 |
36.9 |
29.5 |
14.7 |
36.9 |
|
Diluted EPS Excl Extraord Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Diluted EPS Incl Extraord Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
0.7 |
0.7 |
0.6 |
0.6 |
0.6 |
|
Total Special Items |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
24.4 |
36.2 |
18.4 |
29.0 |
14.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
8.9 |
17.0 |
5.1 |
11.6 |
5.1 |
|
Normalized Income After Tax |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Diluted Normalized EPS |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Rental Expenses |
0.6 |
0.6 |
0.7 |
0.6 |
0.6 |
|
Advertising Expense, Supplemental |
0.1 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Bank Total Revenue |
63.3 |
77.8 |
54.1 |
61.2 |
49.2 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
69.555 |
69.085 |
66.225 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
77.3 |
59.4 |
61.8 |
47.0 |
29.2 |
|
Fed Funds Sold/Securities Purch Under Resale
Agrmnt |
44.7 |
38.8 |
35.0 |
25.9 |
14.1 |
|
Other Short Term Investments |
236.3 |
165.4 |
127.7 |
90.9 |
61.3 |
|
Other Earning Assets, Total |
281.0 |
204.2 |
162.7 |
116.8 |
75.4 |
|
Total Gross Loans |
1,040.5 |
836.8 |
588.2 |
452.9 |
322.9 |
|
Net Loans |
1,040.5 |
836.8 |
588.2 |
452.9 |
322.9 |
|
Land/Improvements |
27.4 |
27.7 |
28.5 |
16.1 |
3.5 |
|
Machinery/Equipment |
16.0 |
16.0 |
12.7 |
7.9 |
7.3 |
|
Property/Plant/Equipment - Gross |
43.4 |
43.7 |
41.2 |
24.0 |
10.8 |
|
Accumulated Depreciation |
-8.1 |
-8.2 |
-7.0 |
-7.4 |
-5.2 |
|
Property/Plant/Equipment - Net |
35.2 |
35.5 |
34.2 |
16.6 |
5.6 |
|
Other Assets |
112.2 |
85.9 |
66.6 |
61.3 |
66.2 |
|
Other Assets, Total |
112.2 |
85.9 |
66.6 |
61.3 |
66.2 |
|
Total Assets |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
Interest Bearing Deposits |
1,123.2 |
935.1 |
737.5 |
596.1 |
405.2 |
|
Other Deposits |
76.4 |
59.8 |
29.9 |
13.0 |
7.9 |
|
Total Deposits |
1,199.6 |
994.9 |
767.4 |
609.1 |
413.2 |
|
Fed Funds Purch/Secs Sold under Repurch Agrmnt |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
Total Short Term Borrowings |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
|
|
|
|
|
|
|
Other Liabilities |
110.5 |
81.6 |
54.5 |
29.4 |
34.2 |
|
Other Liabilities, Total |
110.5 |
81.6 |
54.5 |
29.4 |
34.2 |
|
Total Liabilities |
1,398.7 |
1,122.8 |
848.8 |
657.3 |
476.2 |
|
|
|
|
|
|
|
|
Common Stock |
37.0 |
32.4 |
10.7 |
8.3 |
7.8 |
|
Common Stock |
37.0 |
32.4 |
10.7 |
8.3 |
7.8 |
|
Retained Earnings (Accumulated Deficit) |
110.5 |
66.6 |
54.2 |
29.1 |
15.2 |
|
Total Equity |
147.6 |
98.9 |
64.9 |
37.4 |
23.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Total Common Shares Outstanding |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Employees |
1,952 |
1,804 |
- |
- |
- |
|
Number of Common Shareholders |
56,083 |
65,234 |
14,774 |
6,911 |
5,528 |
|
Total Capital Leases, Supplemental |
- |
0.0 |
0.1 |
0.4 |
- |
|
Capital Lease Payments Due in Year 1 |
- |
0.0 |
0.1 |
0.2 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
0.0 |
0.1 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
- |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
- |
- |
0.0 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.0 |
0.0 |
0.0 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
|
Exchange Rate |
69.425 |
69.505 |
69.24 |
|
|
|
|
|
|
Cash & Due from Banks |
81.6 |
93.6 |
79.5 |
|
Fed Funds Sold/Securities Purch Under Resale
Agrmnt |
73.8 |
57.0 |
43.3 |
|
Other Short Term Investments |
208.0 |
202.3 |
223.4 |
|
Other Earning Assets, Total |
281.7 |
259.3 |
266.7 |
|
Total Gross Loans |
1,248.3 |
1,178.0 |
1,099.0 |
|
Net Loans |
1,248.3 |
1,178.0 |
1,099.0 |
|
Land/Improvements |
32.9 |
32.8 |
27.3 |
|
Machinery/Equipment |
17.9 |
17.3 |
16.7 |
|
Other
Property/Plant/Equipment |
0.7 |
0.3 |
0.3 |
|
Property/Plant/Equipment - Gross |
51.6 |
50.5 |
44.3 |
|
Accumulated Depreciation |
-10.0 |
-9.1 |
-8.7 |
|
Property/Plant/Equipment - Net |
41.6 |
41.3 |
35.6 |
|
Other Assets |
158.7 |
179.7 |
134.3 |
|
Other Assets, Total |
158.7 |
179.7 |
134.3 |
|
Total Assets |
1,811.9 |
1,752.0 |
1,615.2 |
|
|
|
|
|
|
Interest Bearing Deposits |
1,147.1 |
1,157.5 |
1,135.6 |
|
Other Deposits |
82.6 |
80.2 |
78.3 |
|
Total Deposits |
1,229.7 |
1,237.7 |
1,213.9 |
|
Fed Funds Purch/Secs Sold under Repurch Agrmnt |
226.6 |
173.3 |
115.1 |
|
Total Short Term Borrowings |
226.6 |
173.3 |
115.1 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
|
Total Debt |
226.6 |
173.3 |
115.1 |
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
|
Other Liabilities |
167.7 |
161.9 |
125.1 |
|
Other Liabilities, Total |
167.7 |
161.9 |
125.1 |
|
Total Liabilities |
1,624.0 |
1,573.0 |
1,454.1 |
|
|
|
|
|
|
Common Stock |
46.2 |
36.9 |
37.0 |
|
Common Stock |
46.2 |
36.9 |
37.0 |
|
Retained Earnings (Accumulated Deficit) |
141.7 |
142.1 |
124.0 |
|
Total Equity |
187.9 |
179.0 |
161.0 |
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,811.9 |
1,752.0 |
1,615.2 |
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
36.9 |
29.5 |
29.5 |
|
Total Common Shares Outstanding |
36.9 |
29.5 |
29.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
131.1 |
107.4 |
76.5 |
49.1 |
35.2 |
|
Cash Payments |
-89.0 |
-78.0 |
-55.6 |
-40.2 |
-24.5 |
|
Cash Taxes Paid |
-19.3 |
-13.1 |
-1.8 |
-2.4 |
-1.6 |
|
Other Assets |
189.1 |
214.1 |
157.7 |
217.0 |
-17.0 |
|
Other Liabilities |
53.4 |
21.1 |
13.3 |
-5.2 |
7.5 |
|
Other Operating Cash Flow |
45.5 |
38.1 |
28.6 |
1.8 |
1.1 |
|
Loans, Gains/Losses |
-208.6 |
-240.2 |
-139.8 |
-144.0 |
-68.1 |
|
Changes in Working Capital |
79.4 |
33.1 |
59.8 |
69.6 |
-76.5 |
|
Cash from Operating Activities |
102.2 |
49.5 |
78.9 |
76.2 |
-67.4 |
|
|
|
|
|
|
|
|
Sale of Fixed Assets |
-1.3 |
-2.6 |
-19.0 |
-11.4 |
-0.4 |
|
Sale/Maturity of Investment |
-36.5 |
-16.2 |
-15.1 |
-22.4 |
48.4 |
|
Purchase of Investments |
-35.6 |
-17.6 |
-22.7 |
-9.9 |
-6.6 |
|
Other Investing Cash Flow Items, Total |
-73.4 |
-36.5 |
-56.8 |
-43.6 |
41.3 |
|
Cash from Investing Activities |
-73.4 |
-36.5 |
-56.8 |
-43.6 |
41.3 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-4.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
-4.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt, Net |
0.4 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
Issuance (Retirement) of Debt, Net |
0.4 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
Cash from Financing Activities |
-4.5 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
24.3 |
15.8 |
24.6 |
31.6 |
-23.0 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
98.1 |
82.9 |
73.2 |
41.8 |
67.7 |
|
Net Cash - Ending Balance |
122.4 |
98.8 |
97.8 |
73.3 |
44.7 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
30-Sep-2009 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.331145 |
69.264044 |
69.248352 |
69.026932 |
69.001022 |
|
|
|
|
|
|
|
|
Cash Receipts |
113.7 |
73.6 |
34.9 |
131.1 |
97.1 |
|
Cash Payments |
-67.2 |
-43.3 |
-20.7 |
-89.0 |
-68.5 |
|
Cash Taxes Paid |
-24.1 |
-17.1 |
-3.4 |
-19.3 |
-15.8 |
|
Other Assets |
10.4 |
-8.5 |
12.0 |
189.1 |
173.2 |
|
Other Liabilities |
151.5 |
121.8 |
43.0 |
53.4 |
9.9 |
|
Other Operating Cash Flow |
47.4 |
39.1 |
10.5 |
45.5 |
26.8 |
|
Loans, Gains/Losses |
-210.6 |
-141.7 |
-58.2 |
-208.6 |
-157.4 |
|
Changes in Working Capital |
-1.3 |
10.7 |
7.3 |
79.4 |
52.5 |
|
Cash from Operating Activities |
21.0 |
23.9 |
18.1 |
102.2 |
65.3 |
|
|
|
|
|
|
|
|
Sale of Fixed Assets |
-8.7 |
-7.5 |
-1.0 |
-1.3 |
-2.5 |
|
Sale/Maturity of Investment |
-5.4 |
-23.6 |
-6.1 |
-36.5 |
-30.8 |
|
Purchase of Investments |
33.2 |
36.3 |
-10.3 |
-35.6 |
-20.3 |
|
Other Investing Cash Flow Items, Total |
19.2 |
5.3 |
-17.3 |
-73.4 |
-53.7 |
|
Cash from Investing Activities |
19.2 |
5.3 |
-17.3 |
-73.4 |
-53.7 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-6.6 |
0.0 |
0.0 |
-4.8 |
-5.6 |
|
Total Cash Dividends Paid |
-6.6 |
0.0 |
0.0 |
-4.8 |
-5.6 |
|
Long Term Debt, Net |
0.1 |
0.0 |
0.0 |
0.4 |
1.5 |
|
Issuance (Retirement) of Debt, Net |
0.1 |
0.0 |
0.0 |
0.4 |
1.5 |
|
Cash from Financing Activities |
-6.5 |
0.0 |
0.0 |
-4.5 |
-4.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
33.7 |
29.2 |
0.8 |
24.3 |
7.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
121.9 |
122.0 |
122.1 |
98.1 |
98.2 |
|
Net Cash - Ending Balance |
155.6 |
151.2 |
122.8 |
122.4 |
105.7 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest Income - AB Int., Finance Ltd., |
0.9 |
0.0 |
- |
- |
- |
|
Loans & Advances |
126.9 |
100.9 |
69.0 |
45.5 |
32.5 |
|
Bills purchased and discounted |
1.1 |
0.5 |
1.7 |
1.0 |
0.6 |
|
Interest on Banks |
3.0 |
6.0 |
5.8 |
2.6 |
2.1 |
|
Total Revenue |
132.0 |
107.4 |
76.5 |
49.1 |
35.2 |
|
|
|
|
|
|
|
|
Interest Paid on Deposits-AB Int. F Ltd |
0.1 |
0.2 |
- |
- |
- |
|
Interest Paid on Deposits |
85.4 |
72.9 |
54.8 |
36.2 |
22.0 |
|
Interest on Borrowings |
3.6 |
4.8 |
0.8 |
4.0 |
2.4 |
|
Provision against Loans & Advances |
6.3 |
4.1 |
5.3 |
2.4 |
3.3 |
|
Provision for Dimunution in Value of Inv |
0.0 |
1.7 |
0.1 |
0.2 |
0.0 |
|
Other Provision |
2.4 |
4.4 |
1.9 |
0.0 |
2.1 |
|
Total Operating Expense |
97.7 |
88.2 |
63.0 |
42.8 |
29.9 |
|
|
|
|
|
|
|
|
Interest on treasury bills |
2.6 |
3.1 |
2.9 |
2.7 |
4.2 |
|
Interest on treasury bonds |
11.1 |
5.6 |
0.7 |
0.0 |
0.1 |
|
Interest on others bonds |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Interest on debentures |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Dividend on shares |
1.8 |
2.1 |
0.6 |
0.3 |
0.3 |
|
Gain on Treasury Bills & Treasury Bonds |
1.2 |
0.5 |
- |
- |
- |
|
Capital gain on sale of shares |
25.7 |
20.0 |
20.9 |
11.1 |
0.3 |
|
Prize money of prize bond |
- |
- |
- |
0.0 |
0.0 |
|
Commission, Exg., & Brok. - AB I F L |
0.2 |
0.9 |
- |
- |
- |
|
Commission on letter of credit |
6.4 |
5.1 |
3.4 |
3.1 |
1.4 |
|
Commission on letter of guarantee |
1.5 |
1.1 |
1.0 |
0.7 |
0.6 |
|
Other fees, commission and service charg |
18.0 |
14.0 |
9.4 |
6.7 |
5.4 |
|
Exchange gains less losses arising from |
7.0 |
5.4 |
5.1 |
0.3 |
0.2 |
|
Other income |
3.0 |
3.3 |
2.6 |
4.6 |
1.3 |
|
Salary and allowances |
-17.7 |
-15.0 |
-10.1 |
-8.2 |
-7.3 |
|
Rent, taxes, insurance, electricity, etc |
-3.5 |
-2.6 |
-2.1 |
-1.6 |
-2.2 |
|
Legal expenses |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Postage, stamps, telecommunication, etc |
-1.3 |
-0.9 |
-0.8 |
-0.5 |
-0.4 |
|
Stationery, printing, advertisement, etc |
-1.8 |
-1.0 |
-0.6 |
-0.4 |
-0.4 |
|
Chief executive's salary and fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Directors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation |
-2.3 |
-1.9 |
-1.4 |
-0.8 |
-0.5 |
|
Repairs |
-0.6 |
-0.4 |
-0.4 |
-0.4 |
-0.4 |
|
Depreciation - AB Int. Finance Ltd |
0.0 |
0.0 |
- |
- |
- |
|
Other expenses |
-8.9 |
-5.6 |
-3.8 |
-16.1 |
-1.6 |
|
Total Non-Interest Revenue |
78.4 |
61.2 |
46.7 |
29.6 |
13.8 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-36.3 |
-27.5 |
-19.3 |
-28.2 |
-12.8 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
76.4 |
53.0 |
40.9 |
7.7 |
6.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Net Income After Taxes |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Basic EPS Including ExtraOrdinary Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted Net Income |
49.5 |
34.0 |
27.6 |
7.7 |
2.5 |
|
Diluted Weighted Average Shares |
29.5 |
29.5 |
8.5 |
6.6 |
6.0 |
|
Diluted EPS Excluding ExtraOrd Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
Diluted EPS Including ExtraOrd Items |
1.68 |
1.15 |
3.23 |
1.18 |
0.42 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
76.4 |
53.0 |
40.9 |
7.8 |
6.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
26.9 |
19.0 |
13.3 |
0.0 |
3.8 |
|
Normalized Income After Taxes |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
49.5 |
34.1 |
27.7 |
7.8 |
2.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Diluted Normalized EPS |
1.68 |
1.15 |
3.24 |
1.18 |
0.42 |
|
Depreciation, Supplemental |
2.3 |
1.9 |
1.4 |
0.8 |
0.5 |
|
Depreciation, Supplemental - AB IFL |
0.0 |
0.0 |
- |
- |
- |
|
Advertising Expense, Supplemental |
0.8 |
0.3 |
0.1 |
0.0 |
0.1 |
|
Rental Expense, Supplemental |
2.1 |
1.6 |
1.3 |
1.1 |
1.6 |
|
Current tax |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Current Tax - Total |
25.0 |
20.1 |
12.1 |
0.0 |
- |
|
Deferred tax |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Deferred Tax - Total |
1.9 |
-1.2 |
1.2 |
0.0 |
- |
|
Income Tax - Total |
26.9 |
19.0 |
13.3 |
0.0 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
30-Sep-2009 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.465054 |
69.278871 |
69.248352 |
69.101935 |
69.052391 |
|
|
|
|
|
|
|
|
Interest Income - AB Int., Finance Ltd., |
0.2 |
0.3 |
0.3 |
0.3 |
0.2 |
|
Interest Income - AB Investment Ltd., |
3.7 |
3.9 |
0.8 |
0.0 |
0.0 |
|
Off- Shore Banking Unit |
0.5 |
0.0 |
- |
0.0 |
0.0 |
|
Loans & Advances |
34.0 |
33.2 |
32.4 |
35.3 |
31.6 |
|
Bills purchased and discounted |
1.0 |
0.8 |
0.7 |
-1.4 |
0.9 |
|
Interest on Banks |
0.8 |
0.5 |
0.7 |
0.7 |
1.0 |
|
Total Revenue |
40.1 |
38.6 |
34.9 |
34.9 |
33.7 |
|
|
|
|
|
|
|
|
Interest Paid on Deposits-AB Int. F Ltd |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid on Deposits-AB Invs. Ltd |
1.1 |
1.6 |
0.4 |
0.0 |
0.0 |
|
Off-shore Banking Unit |
0.1 |
0.0 |
- |
0.0 |
0.0 |
|
Interest Paid on Deposits |
19.3 |
19.0 |
19.0 |
19.5 |
21.0 |
|
Interest on Borrowings |
3.3 |
2.0 |
1.3 |
1.0 |
0.4 |
|
Provision against Loans & Advances |
2.1 |
5.6 |
4.6 |
0.6 |
1.3 |
|
Provision for Dimunution in Value of Inv |
0.0 |
0.0 |
0.9 |
-0.2 |
0.0 |
|
Other Provision |
0.0 |
1.9 |
0.0 |
0.2 |
1.9 |
|
Total Operating Expense |
26.0 |
30.0 |
26.2 |
21.2 |
24.7 |
|
|
|
|
|
|
|
|
Interest on treasury bills |
0.5 |
0.6 |
0.5 |
1.5 |
0.5 |
|
Interest on treasury bonds |
3.3 |
3.0 |
2.7 |
3.1 |
2.5 |
|
Interest on others bonds |
0.0 |
0.1 |
0.0 |
0.0 |
- |
|
Interest on debentures |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend on shares |
0.0 |
1.3 |
0.1 |
1.3 |
0.3 |
|
Gain on Treasury Bills & Treasury Bonds |
-0.1 |
-0.1 |
-0.1 |
1.3 |
0.0 |
|
Capital gain on sale of shares |
5.0 |
23.3 |
6.4 |
8.3 |
3.1 |
|
AB Investment Limited |
0.0 |
- |
- |
0.0 |
0.0 |
|
AB Securities Limited |
2.1 |
- |
- |
0.0 |
0.0 |
|
Commission, Exg., & Brok. - AB I F L |
0.1 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Commission, Exg., & Brok. - AB Invs. L |
2.9 |
3.1 |
0.5 |
0.0 |
0.0 |
|
AB Securities Limited |
0.8 |
- |
- |
- |
- |
|
Commission on letter of credit |
2.0 |
2.0 |
1.8 |
1.5 |
2.6 |
|
Commission on letter of guarantee |
0.5 |
0.4 |
0.4 |
0.4 |
0.5 |
|
Other fees, commission and service charg |
2.0 |
2.5 |
3.9 |
5.9 |
3.8 |
|
Exchange gains less losses arising from |
2.3 |
2.1 |
1.9 |
2.0 |
2.0 |
|
Other income |
1.8 |
0.9 |
0.7 |
1.0 |
0.3 |
|
Salary and allowances |
-6.6 |
-5.4 |
-4.3 |
-5.9 |
-3.8 |
|
Rent, taxes, insurance, electricity, etc |
-1.0 |
-0.9 |
-1.0 |
-1.0 |
-1.0 |
|
Legal expenses |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Postage, stamps, telecommunication, etc |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
-0.4 |
|
Stationery, printing, advertisement, etc |
-0.4 |
-0.6 |
-0.5 |
-0.6 |
-0.4 |
|
Chief executive's salary and fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Directors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation |
-0.7 |
-0.7 |
-0.6 |
-0.6 |
-0.6 |
|
Repairs |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
-0.2 |
|
Depreciation -Others |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other expenses |
-3.5 |
-3.3 |
-2.4 |
-2.5 |
-3.1 |
|
Total Non-Interest Revenue |
23.2 |
39.1 |
19.1 |
26.3 |
15.6 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-12.9 |
-11.5 |
-9.5 |
-11.1 |
-9.7 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
24.3 |
36.2 |
18.4 |
28.9 |
14.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
8.8 |
17.0 |
5.1 |
11.6 |
5.1 |
|
Net Income After Taxes |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
Net Income |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
36.9 |
36.9 |
29.5 |
14.7 |
36.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Basic EPS Including ExtraOrdinary Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Diluted Net Income |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
Diluted Weighted Average Shares |
36.9 |
36.9 |
29.5 |
14.7 |
36.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Diluted EPS Including ExtraOrd Items |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
24.4 |
36.2 |
18.4 |
29.0 |
14.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
8.9 |
17.0 |
5.1 |
11.6 |
5.1 |
|
Normalized Income After Taxes |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.5 |
19.2 |
13.3 |
17.3 |
9.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Diluted Normalized EPS |
0.42 |
0.52 |
0.45 |
1.17 |
0.27 |
|
Depreciation, Supplemental |
0.7 |
0.7 |
0.6 |
0.6 |
0.6 |
|
Depreciation, Supplemental - AB IFL |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advertising Expense, Supplemental |
0.1 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Rental Expense, Supplemental |
0.6 |
0.6 |
0.7 |
0.6 |
0.6 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
69.555 |
69.085 |
66.225 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in Hand |
7.1 |
9.9 |
9.6 |
7.5 |
6.8 |
|
Balance with Bangladesh Bank |
70.2 |
49.6 |
52.2 |
39.5 |
22.5 |
|
Balance with other banks and financial i |
36.0 |
21.5 |
26.8 |
18.4 |
8.2 |
|
Money at call and on short notice |
8.7 |
17.3 |
8.3 |
7.5 |
5.9 |
|
Investments - Govt. & Others |
236.3 |
165.4 |
127.7 |
90.9 |
61.3 |
|
Loans, cash credits, overdrafts, etc |
1,006.8 |
789.6 |
565.1 |
426.8 |
309.5 |
|
Bills purchased and discounted |
33.7 |
47.1 |
23.2 |
26.1 |
13.4 |
|
Land & buildings |
27.3 |
27.6 |
27.6 |
13.7 |
3.5 |
|
Furniture & Fixtures |
1.9 |
2.6 |
2.3 |
2.4 |
2.4 |
|
Office Appliances |
0.8 |
0.7 |
0.8 |
0.7 |
0.6 |
|
Electrical Appliances |
8.6 |
8.6 |
7.2 |
4.4 |
3.9 |
|
Motor Vehicles |
4.6 |
3.8 |
2.4 |
0.5 |
0.4 |
|
Leasehold Property |
0.1 |
0.1 |
0.9 |
2.4 |
- |
|
AB International Finance Limited |
0.2 |
0.2 |
- |
- |
- |
|
Accumulated Depreciation |
-8.1 |
-8.2 |
-7.0 |
-7.4 |
-5.2 |
|
Other assets |
112.2 |
85.9 |
66.6 |
61.3 |
66.2 |
|
Total Assets |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
Borrowings from other banks, financial i |
88.6 |
46.3 |
26.9 |
18.8 |
28.8 |
|
Current deposits |
93.5 |
73.5 |
62.9 |
60.2 |
51.9 |
|
Other demand deposits |
36.3 |
36.6 |
38.3 |
31.5 |
21.0 |
|
Bills payable |
18.6 |
17.1 |
15.9 |
7.8 |
8.2 |
|
Savings bank deposits |
171.8 |
141.1 |
122.1 |
118.4 |
104.9 |
|
Short term deposits |
227.9 |
73.9 |
48.8 |
37.9 |
34.1 |
|
Fixed deposits |
573.2 |
591.1 |
447.6 |
338.2 |
183.1 |
|
Bearer certificates of deposit |
1.9 |
1.9 |
1.9 |
2.0 |
1.9 |
|
Other deposits |
76.4 |
59.8 |
29.9 |
13.0 |
7.9 |
|
Other liabilities |
110.5 |
81.6 |
54.5 |
29.4 |
34.2 |
|
Total Liabilities |
1,398.7 |
1,122.8 |
848.8 |
657.3 |
476.2 |
|
|
|
|
|
|
|
|
Equity Paid-up capital |
37.0 |
32.4 |
10.7 |
8.3 |
7.8 |
|
Statutory reserve |
44.8 |
30.0 |
19.5 |
11.2 |
9.8 |
|
Other reserve |
13.2 |
9.8 |
10.3 |
9.9 |
2.7 |
|
Retained earnings |
52.5 |
26.8 |
24.4 |
8.0 |
2.7 |
|
Total Equity |
147.6 |
98.9 |
64.9 |
37.4 |
23.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,546.2 |
1,221.8 |
913.7 |
694.6 |
499.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Total Common Shares Outstanding |
29.5 |
25.6 |
8.5 |
6.6 |
6.0 |
|
Full-Time Employees |
1,952 |
1,804 |
- |
- |
- |
|
Number of Common Shareholders |
56,083 |
65,234 |
14,774 |
6,911 |
5,528 |
|
Capital Lease Payments Due within 1 Year |
- |
0.0 |
0.1 |
0.2 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
0.0 |
0.1 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
- |
0.0 |
- |
|
Total Capital Leases, Supplemental |
- |
0.0 |
0.1 |
0.4 |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
|
Exchange Rate |
69.425 |
69.505 |
69.24 |
|
|
|
|
|
|
Cash in Hand |
8.6 |
7.9 |
9.7 |
|
Balance with Bangladesh Bank |
73.0 |
85.8 |
69.8 |
|
Balance with other banks and financial i |
68.7 |
50.0 |
32.7 |
|
Money at call and on short notice |
5.0 |
7.0 |
10.6 |
|
Investments - Govt. & Others |
208.0 |
202.3 |
223.4 |
|
Loans, cash credits, overdrafts, etc |
1,196.8 |
1,138.1 |
1,064.6 |
|
Bills purchased and discounted |
51.5 |
39.9 |
34.4 |
|
Land & buildings |
32.9 |
32.8 |
27.3 |
|
Furniture & Fixtures |
2.3 |
2.2 |
2.1 |
|
Office Appliances |
0.9 |
0.8 |
0.8 |
|
Electrical Appliances |
9.5 |
9.3 |
9.2 |
|
Motor Vehicles |
5.3 |
5.0 |
4.6 |
|
AB Investments Limited |
0.1 |
0.1 |
0.1 |
|
AB International Finance Limited |
0.2 |
0.2 |
0.2 |
|
AB Securities Limited |
0.4 |
- |
- |
|
Accumulated Depreciation |
-10.0 |
-9.1 |
-8.7 |
|
Other assets |
158.7 |
179.7 |
134.3 |
|
Total Assets |
1,811.9 |
1,752.0 |
1,615.2 |
|
|
|
|
|
|
Borrowings from other banks, financial i |
226.6 |
173.3 |
115.1 |
|
Current deposits |
105.4 |
114.6 |
89.6 |
|
Other demand deposits |
47.9 |
48.3 |
51.6 |
|
Bills payable |
19.2 |
54.2 |
15.2 |
|
Savings bank deposits |
184.3 |
178.2 |
174.2 |
|
Short term deposits |
134.9 |
172.6 |
230.7 |
|
Fixed deposits |
653.6 |
587.7 |
572.5 |
|
Bearer certificates of deposit |
1.9 |
1.9 |
1.9 |
|
Other deposits |
82.6 |
80.2 |
78.3 |
|
Other liabilities |
167.7 |
161.9 |
125.1 |
|
Minority Interest |
0.0 |
0.0 |
0.0 |
|
Total Liabilities |
1,624.0 |
1,573.0 |
1,454.1 |
|
|
|
|
|
|
Equity Paid-up capital |
46.2 |
36.9 |
37.0 |
|
Statutory reserve |
45.1 |
44.9 |
44.8 |
|
Other reserve |
14.9 |
14.5 |
13.3 |
|
Retained earnings |
81.7 |
82.7 |
65.9 |
|
Total Equity |
187.9 |
179.0 |
161.0 |
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,811.9 |
1,752.0 |
1,615.2 |
|
|
|
|
|
|
S/O-Ordinary Shares |
36.9 |
29.5 |
29.5 |
|
Total Common Shares Outstanding |
36.9 |
29.5 |
29.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
68.868552 |
68.759046 |
64.218154 |
|
Auditor |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
S. F. Ahmed
& Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
131.1 |
107.4 |
76.5 |
49.1 |
35.2 |
|
Cash Payments |
-89.0 |
-78.0 |
-55.6 |
-40.2 |
-24.5 |
|
Dividend received |
1.8 |
2.1 |
0.6 |
0.3 |
0.3 |
|
Fee and commission receipts |
27.0 |
26.5 |
13.9 |
10.5 |
7.4 |
|
Recoveries on loans previously written o |
0.6 |
0.9 |
0.2 |
1.7 |
0.2 |
|
Payments to employees |
-17.8 |
-15.0 |
-10.2 |
-8.3 |
-7.2 |
|
Payments to suppliers |
-1.8 |
-3.7 |
-0.8 |
-0.8 |
-0.8 |
|
Cash Taxes Paid |
-19.3 |
-13.1 |
-1.8 |
-2.4 |
-1.6 |
|
Receipts from other operating activities |
49.9 |
36.7 |
32.1 |
17.1 |
5.8 |
|
Payments for other operating activities |
-14.2 |
-9.4 |
-7.1 |
-18.7 |
-4.6 |
|
Loans & Advances to Customers |
-208.6 |
-240.2 |
-139.8 |
-144.0 |
-68.1 |
|
Other assets |
-21.3 |
-7.3 |
-6.4 |
3.0 |
-2.4 |
|
Deposits from other banks |
-73.3 |
45.5 |
-10.9 |
69.0 |
2.0 |
|
Deposits from customers |
283.7 |
175.9 |
175.0 |
145.1 |
-16.6 |
|
Trading liabilities (short term borrowin |
41.1 |
16.5 |
5.8 |
-7.9 |
12.9 |
|
Other liabilities |
12.3 |
4.7 |
7.5 |
2.8 |
-5.4 |
|
Cash from Operating Activities |
102.2 |
49.5 |
78.9 |
76.2 |
-67.4 |
|
|
|
|
|
|
|
|
Purchase/sale of government securities |
-36.5 |
-16.2 |
-15.1 |
-22.4 |
48.4 |
|
Purchase/sale of trading securities, sha |
-35.6 |
-17.6 |
-22.7 |
-9.9 |
-6.6 |
|
Purchase/sale of property, plant and equ |
-1.3 |
-2.6 |
-19.0 |
-11.4 |
-0.4 |
|
Cash from Investing Activities |
-73.4 |
-36.5 |
-56.8 |
-43.6 |
41.3 |
|
|
|
|
|
|
|
|
Increase/(decrease) of long term borrowi |
0.4 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
Dividend paid |
-4.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-4.5 |
2.8 |
2.6 |
-1.0 |
3.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
24.3 |
15.8 |
24.6 |
31.6 |
-23.0 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning o |
98.1 |
82.9 |
73.2 |
41.8 |
67.7 |
|
Cash and cash equivalents at end of year |
122.4 |
98.8 |
97.8 |
73.3 |
44.7 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
30-Sep-2009 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.331145 |
69.264044 |
69.248352 |
69.026932 |
69.001022 |
|
|
|
|
|
|
|
|
Cash Receipts |
113.7 |
73.6 |
34.9 |
131.1 |
97.1 |
|
Cash Payments |
-67.2 |
-43.3 |
-20.7 |
-89.0 |
-68.5 |
|
Dividend received |
1.4 |
1.4 |
0.1 |
1.8 |
0.5 |
|
Fee and commission receipts |
22.3 |
14.9 |
6.8 |
27.0 |
23.2 |
|
Recoveries on loans previously written o |
0.6 |
0.4 |
0.2 |
0.6 |
0.6 |
|
Payments to employees |
-16.4 |
-9.8 |
-4.3 |
-17.8 |
-11.9 |
|
Payments to suppliers |
-1.5 |
-1.1 |
-0.5 |
-1.8 |
-1.2 |
|
Cash Taxes Paid |
-24.1 |
-17.1 |
-3.4 |
-19.3 |
-15.8 |
|
Receipts from other operating activities |
55.1 |
42.0 |
12.3 |
49.9 |
27.8 |
|
Payments for other operating activities |
-13.9 |
-8.7 |
-3.9 |
-14.2 |
-12.2 |
|
Loans & Advances to Customers |
-210.6 |
-141.7 |
-58.2 |
-208.6 |
-157.4 |
|
Other assets |
-22.7 |
-51.0 |
-2.0 |
-21.3 |
-3.9 |
|
Deposits from other banks |
9.7 |
3.0 |
-1.0 |
-73.3 |
-40.3 |
|
Deposits from customers |
23.3 |
39.5 |
14.9 |
283.7 |
217.5 |
|
Trading liabilities (short term borrowin |
138.2 |
104.7 |
26.5 |
41.1 |
2.5 |
|
Other liabilities |
13.3 |
17.2 |
16.5 |
12.3 |
7.4 |
|
Cash from Operating Activities |
21.0 |
23.9 |
18.1 |
102.2 |
65.3 |
|
|
|
|
|
|
|
|
Purchase/sale of government securities |
-5.4 |
-23.6 |
-6.1 |
-36.5 |
-30.8 |
|
Purchase/sale of trading securities, sha |
33.2 |
36.3 |
-10.3 |
-35.6 |
-20.3 |
|
Purchase/sale of property, plant and equ |
-8.7 |
-7.5 |
-1.0 |
-1.3 |
-2.5 |
|
Cash from Investing Activities |
19.2 |
5.3 |
-17.3 |
-73.4 |
-53.7 |
|
|
|
|
|
|
|
|
Increase/(decrease) of long term borrowi |
0.1 |
0.0 |
0.0 |
0.4 |
1.5 |
|
Dividend paid |
-6.6 |
0.0 |
0.0 |
-4.8 |
-5.6 |
|
Cash from Financing Activities |
-6.5 |
0.0 |
0.0 |
-4.5 |
-4.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
33.7 |
29.2 |
0.8 |
24.3 |
7.5 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning o |
121.9 |
122.0 |
122.1 |
98.1 |
98.2 |
|
Cash and cash equivalents at end of year |
155.6 |
151.2 |
122.8 |
122.4 |
105.7 |
|
|
|
Financials in: As Reported (mil)
|
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Financials in: As Reported (mil)
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
|
|
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.