MIRA INFORM REPORT
|
Report Date : |
07.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
TRUST BANK LIMITED |
|
|
|
|
Registered Office : |
Peoples Insurance Bhaban, 36, Dilkusha C/A (2nd, 16th & 17th
Floor), Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
15.07.1999 |
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|
|
|
Com. Reg. No.: |
C-37964 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
General Banking and other related services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Bangladesh |
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 |
Trust Bank
Limited |
|
Address |
Peoples
Insurance Bhaban, 36, Dilkusha C/A (2nd, 16th & 17th Floor), Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9570261,
9570263, 9572012-3 |
|
Fax No |
880-2-9572315 |
|
E-Mail |
info@trustbanklimited.com
, itinfo@trustbanklimited.com |
|
Website |
www.trustbank.com.bd |
|
Established |
July, 1999 |
|
Company Registration No |
C-37964 |
|
Registration date |
15th
July, 1999 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock of Companies & Firms, Dhaka |
|
Business Type |
General Banking |
|
Status |
Satisfactory |
|
Payment Behavior |
N/A |
|
Listed in |
4 Dhaka Stock Exchange Ltd (DSE) 4 Chittagong Stock Exchange Ltd (CSE) |
|
Stock Code |
TRUSTBANK |
LOCATIONS
|
Head Office |
Peoples
Insurance Bhaban, 36, Dilkusha C/A (2nd, 16th & 17th Floor), Dhaka-1000 |
|
Telephone No |
880-2-9572315 |
|
Fax No |
info@trustbanklimited.com
, itinfo@trustbanklimited.com |
|
E-Mail |
www.trustbank.com.bd |
|
Website |
880-2-9570261,
9570263, 9572012-3 |
|
SWIFT |
TTBLBDDHXXX |
|
Branch |
52 Branches |
|
Factory |
N/A |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
N/A |
DIRECTORS
|
Name |
General Mohammad
Abdul Mubeen, ndc, psc |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Major Gen Abu
Belal Muhammad Shafiul Huq, ndc, psc |
|
Designation |
Vice-Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shah A
Sarwar |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Brig Gen Md
Nazrul Hasan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Brig Gen Khan
Abu Roushan Mohammad Mostafa Kamal, ndc, psc |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Brig Gen Tushar
Kanti Chakma, ndc, psc |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Begum
Rokeya Din |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Helal Uddin
Ahmed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Brig Gen Md
Imamul Huda, psc |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
General Banking |
|
Range of Services |
4 Current Deposit Account 4 Short Term Deposit Account 4 Monthly Benefit Deposit Scheme
(MBDS) 4 House Hold Durable Loan scheme
(HHDL) 4 Travel Loan 4 Locker Services 4 Syndicated Loans 4 International Banking |
FINANCIAL INFORMATION
TRUST BANK LIMITED
Consolidated Balance Sheet
As
At 31 December 2010
Currency:
BDT
|
PROPERTY AND ASSETS |
2010 |
|
CASH |
4
,641,502,209 |
|
Cash in hand (including foreign currencies) |
5 19,467,958 |
|
Balance with
Bangladesh Bank and its agent bank(s) (including foreign currencies) |
4 ,122,034,251 |
|
BALANCE WITH
OTHER BANKS & FINANCIAL INSTITUTIONS |
7
38,392,744 |
|
In Bangladesh |
3 18,714,725 |
|
Outside Bangladesh |
4 19,678,019 |
|
INVESTMENT |
8
,559,939,769 |
|
Government |
6 ,714,007,381 |
|
Others |
1 ,845,932,388 |
|
Loans and Advances/ Islami Banking Investments |
4
2,760,432,995 |
|
Loans, Cash Credit, Overdrafts etc./ Investment |
4 1,501,591,601 |
|
Bills purchased and discounted |
1 ,258,841,394 |
|
Fixed assets including premises, furniture and fixtures |
431,006,157 |
|
Other assets |
1
,229,399,926 |
|
Total Assets |
5 8,360,673,800 |
|
LIABILITIES AND
CAPITAL |
|
|
LIABILITIES |
|
|
Borrowings from other banks, financial institutions and agents |
4 60,247,719 |
|
Deposits & Other Accounts |
5 0,357,901,282 |
|
Other liabilities |
2 ,497,504,163 |
|
Total Liabilities |
5 3,315,653,164 |
|
Capital/Shareholders' Equity |
|
|
Paid up Capital |
2 ,217,606,200 |
|
Minority Interest |
705 |
|
Statutory Reserve |
1 ,566,403,090 |
|
Other Reserve |
1 18,280,731 |
|
Retained Earnings |
1 ,142,729,910 |
|
Total Shareholders' Equity |
5 ,045,020,636 |
|
Total Liabilities and Shareholders' Equity |
5 8,360,673,800 |
TRUST BANK LIMITED
Consolidated Profit and Loss Account
For the year ended
as of 31 December 2010
|
|
2010 |
|
Interest income / Profit on Investment |
4 ,737,245,740 |
|
Interest / Profit paid on deposits and borrowings etc. |
3 ,211,610,939 |
|
Net interest income |
1 ,525,634,801 |
|
Income from investments |
9 63,808,154 |
|
Commission, exchange and brokerage |
4 66,228,417 |
|
Other operating income |
8 14,368,948 |
|
|
2 ,244,405,519 |
|
Total operating income |
3 ,770,040,320 |
|
Salaries and allowances |
6 92,880,229 |
|
Rent, taxes, insurance, electricity, etc. |
1 55,474,527 |
|
Legal expenses |
8 12,533 |
|
Postage, stamps, telecommunications, etc. |
3 8,669,117 |
|
Stationery, printing, advertisement etc. |
5 9,620,654 |
|
Managing Director's salary and benefits |
1 0,140,000 |
|
Directors' fees |
1 ,485,800 |
|
Auditors' fee |
6 90,000 |
|
Depreciation and repair of bank's assets |
1 20,300,756 |
|
Other expenses |
3 15,387,226 |
|
Total operating expenses |
1 ,395,460,842 |
|
Profit before provision |
2 ,374,579,478 |
|
Provision for loans & advances / Investments |
9 4,411,143 |
|
Provision for Diminution in value of Investment |
1 1,134,747 |
|
Other provision |
7 2,662,701 |
|
|
1 78,208,591 |
|
Total Profit before Taxes |
2 ,196,370,887 |
|
Provision for Taxation |
|
|
Current tax |
9 11,344,335 |
|
Deferred tax |
( 9,411,751) |
|
|
9 01,932,584 |
|
Net Profit after Taxation |
1 ,294,438,303 |
|
Appropriations |
|
|
Statutory Reserve |
4 28,072,760 |
|
General reserve |
----------------- |
|
|
4 28,072,760 |
|
Retained surplus |
8 66,365,543 |
|
Earning per share (EPS) |
5 8.37 |
Auditor: Howlader
Younus & Co.
Chartered Accountants
Dhaka
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
120.5638 |
|
U.S Dollar |
1 |
73.1000 |
|
European Euro |
1 |
108.3781 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
NO RECOMMENDATION |
NO RECOMMENDATION |
GENERAL INFORMATION
|
Employees |
5,200 |
|
Office Area (Sq.
Ft) |
5,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
6,200 sq.ft.(rented) |
|
Range of
Products |
N/A |
|
Export Market |
N/A |
|
Certifications |
N/A |
|
Group Name |
N/A |
|
Subsidiaries /
Affiliates |
N/A |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka 4 Bangladesh Association of Bankers,
Dhaka |
COMMENTS
The subject is a public limited company engaged in general
banking and other related services. The bank has 35 branches all over the country and they are quite popular among
their clients. The bank, sponsored by the Army
Welfare Trust (AWT), is first of its kind in the country. With a wide
range of modern corporate and consumer financial products the company has been
operating in Bangladesh since 1999 and has achieved public confidence as a
sound and stable bank.
Mr. Shah A Sarwar, the managing director of the bank is an experienced
banker and knows his job well.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.78 |
|
UK Pound |
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.65.27 |
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.