MIRA INFORM REPORT
|
Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHAHJALAL ISLAMI BANK LIMITED |
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Registered Office : |
Jiban Bima Bhaban, Front Block (4th
Floor), 10, Dilkusha Commercial Area, 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 : |
Not Available |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject is engaged in interest-free banking business and also carries
deal wise business product |
RATING & COMMENTS
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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 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Bangladesh |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 & address
Shahjalal Islami Bank Limited
Jiban Bima Bhaban
Front Block (4th Floor)
10, Dilkusha Commercial Area
Dhaka, 1000
Bangladesh
Tel: 880-2-9570812
Fax: 880-2-9570809
Synthesis
Employees: NA
Company Type: Private Independent
Traded: Not
Available: SHAHJABANK
Auditor: Syful Shamsul Alam & Co
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2009
Reporting Currency: Bangladesh
Taka
Annual Sales: NA
Net Income: 15.5
Total Assets: 850.7
2
Market Value: 0.0
(29-Sep-2011)
Business Description
Shahjalal Islami
Bank Limited (SJIBL) is a Bangladesh-based bank. SJIBL offers various service
products both investment and deposit. SJIBL is engaged in interest-free banking
business and also carries deal wise business product. SJIBL’s account
services include Al Wadiah Current Deposit Accounts, Mudaraba Savings Deposit
Accounts (Msd), Mudaraba Term Deposit Accounts (Mtd) and Mudaraba Short Notice
Deposit Accounts (Msnd). SJIBL carries its brokerage house operation through a
separate division, Capital Market Service Division (CMSD). CMSD provides margin
facility to its customers to invest in the secondary markets. SJIBL’s deposit
scheme includes Mudaraba Monthly Income, Mudaraba Double Money Deposit,
Mudaraba Housing Deposit, Mudaraba Lakhopoti Deposit, Mudaraba Cash Waqf
Deposit and Mudaraba Bibaho Deposit. For the fiscal year ended 31 December
2009, Shahjalal Islami Bank Limited's interest income increased 26% to
BDT2.92B. Net interest income after loan loss provision increased 28% to
BDT2.67B. Net income increased 31% to BDT1.07B. Interest income reflects a
increase in investment income, a rise of income form investment in shares and
an increase in the loan loss provision. Net income reflects a decrease in other
income.
Industry
Industry Commercial Banks
ANZSIC 2006: 6221 - Banking
NACE 2002: 6512 - Other
monetary intermediation
NAICS 2002: 52211 - Commercial
Banking
UK SIC 2003: 65121 - Banks
US SIC 1987: 6029 - Commercial
Banks, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Md Abdur Rahman Sarker |
Managing Director |
|
Khandoker Sakib Ahmed |
Vice Chairman |
|
Md Ahmed |
Vice Chairman |
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A K Azad |
Director |
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Md Abdul Barek |
Director |
news
|
Title |
Date |
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Strategic
business deal signed between SJIBL, NCC Bank |
21-Sep-2011 |
|
SJIBL, NCC
Bank ink strategic business deal |
21-Sep-2011 |
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SJIBL
organises discussion on Mahe Ramzan at Narayangonj |
27-Aug-2011 |
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SJIBL EC
meeting held |
22-Aug-2011 |
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SJIBL
organises discussion meet at Ctg |
21-Aug-2011 |
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = BDT 69.02693
2 - Balance Sheet Item Exchange Rate: USD 1 = BDT 69.26
Corporate Overview
Location
Jiban Bima Bhaban
Front Block (4th Floor)
10, Dilkusha Commercial Area
Dhaka, 1000
Bangladesh
Tel: 880-2-9570812
Fax: 880-2-9570809
Quote Symbol - Exchange
SHAHJABANK - Not
Available
Sales BDT(mil): NA
Assets BDT(mil): 58,920.9
Employees: NA
Fiscal Year End: 31-Dec-2009
Industry: Commercial
Banks
Company Type: Private
Independent
Quoted Status: Not
Quoted
Managing Director: Md Abdur
Rahman Sarker
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Executives
· Financial Information
· Home Page
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
6221 - Banking
NACE 2002 Codes:
6512 - Other monetary intermediation
NAICS 2002 Codes:
52211 - Commercial Banking
US SIC 1987:
6029 - Commercial Banks, Not Elsewhere Classified
UK SIC 2003:
65121 - Banks
Business
Description
Shahjalal Islami
Bank Limited (SJIBL) is a Bangladesh-based bank. SJIBL offers various service
products both investment and deposit. SJIBL is engaged in interest-free banking
business and also carries deal wise business product. SJIBL’s account
services include Al Wadiah Current Deposit Accounts, Mudaraba Savings Deposit
Accounts (Msd), Mudaraba Term Deposit Accounts (Mtd) and Mudaraba Short Notice
Deposit Accounts (Msnd). SJIBL carries its brokerage house operation through a
separate division, Capital Market Service Division (CMSD). CMSD provides margin
facility to its customers to invest in the secondary markets. SJIBL’s deposit
scheme includes Mudaraba Monthly Income, Mudaraba Double Money Deposit,
Mudaraba Housing Deposit, Mudaraba Lakhopoti Deposit, Mudaraba Cash Waqf
Deposit and Mudaraba Bibaho Deposit. For the fiscal year ended 31 December
2009, Shahjalal Islami Bank Limited's interest income increased 26% to
BDT2.92B. Net interest income after loan loss provision increased 28% to
BDT2.67B. Net income increased 31% to BDT1.07B. Interest income reflects a
increase in investment income, a rise of income form investment in shares and
an increase in the loan loss provision. Net income reflects a decrease in other
income.
More Business
Descriptions
Commerical banking services operating under Islamic principles
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Executive report
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Board of
Directors |
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Vice Chairman |
Chairman |
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Vice Chairman |
Chairman |
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Chairman |
Chairman |
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Vice Chairman |
Chairman |
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Chairman |
Chairman |
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Director |
Director/Board Member |
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Director |
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Director |
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Director |
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Director |
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Director |
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Director |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Press Clippings
Strategic business
deal signed between SJIBL, NCC Bank
Financial Express
(India): 21 September 2011
[What follows is
the full text of the news story.]
Bangladesh, Sept.
21 -- FE Report
Shahjalal Islami
Bank Limited signed a Strategic Business Agreement with National Credit and
Commerce Bank Limited for MoneyGram remittance service in its Head Office
Tuesday.
The MoneyGram
brand is recognized throughout the world as a leading global payment services
company. The diverse array of products and services it offer enables consumer
and businesses to make payments and transfer money in more than 191 countries.
MoneyGram's money transfer service moves money quickly and easily around the
world. By the agreement Shahjalal Islami Bank will able to offer MoneyGram services
from its 69 outlets around the country.
Mohammed Nurul
Amin, Managing Director & CEO of NCC Bank and Md Abdur Rahman Sarker,
Managing Director & CEO of Shahjalal Islami Bank signed the agreement on
behalf of their respective banks. 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
SJIBL, NCC Bank ink strategic business deal
New Nation (Bangladesh): 21 September 2011
[What follows is the full text of the news story.]
Bangladesh, Sept.
21 -- Shahjalal Islami Bank Ltd (SJIBL) has signed a 'Strategic Business
Agreement' with National Credit and Commerce Bank Ltd (NCC Bank) for MoneyGram remittance
service in a formal ceremony held at its Head Office in the city on Tuesday.
Mohammed Nurul
Amin, Managing Director and CEO of NCC Bank and Md. Abdur Rahman Sarker,
Managing Director and CEO of Shahjalal Islami Bank signed the agreement while Golam
Hafiz Ahmed, Additional Managing Director, Pijush Kanti Saha, SEVP of NCC Bank,
and Md Abdul Jabber Chowdhury, Deputy Managing Director and M. Akther Hossain,
EVP and Head of International Division of Shahajalal Islami Bank and other
executives and officers of respective banks also attended the signing ceremony.
MoneyGram's money
transfer service moves money quickly and easily around the world.
By the agreement
Shahjalal Islami Bank will able to offer MoneyGram services from its 69 outlets
around the country. 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
SJIBL organises discussion on Mahe Ramzan at
Narayangonj
New Nation (Bangladesh): 27 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
27 -- Narayangonj Branch of Shahjalal Islami Bank Ltd (SJIBL) organized a
discussion on 'Reflection of Mahe Ramzan' and an Iftar Mehfil at Narayangonj
Club, Narayangonj recently. The former Chairman of the Bank, Akkasuddin Mollah
and Managing Director Md. Abdur Rahman Sarker attended at Mehfil as Chief Guest
and Special Guest, respectively.
The Chief Guest
Akkasuddin Mollah thanked to the clients and well wisher for attend the Mehfil.
Among others Branch Manager SM Rashedul Karim and a good number of clients and
well-wishers were present in the occasion. 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
SJIBL EC meeting held
New Nation (Bangladesh): 22 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
22 -- The 449th meeting of the Executive Committee (EC) of Shahjalal Islami
Bank Ltd (SJIBL) was held recently at its Head Office. The meeting was presided
over by Mohammad Hasan, Chairman of the EC of the Bank. The members of the
committee discussed various issues relating to investment in different sectors.
Among others Directors Akkas Uddin Mollah, Engr. Md. Towhidur Rahman, Mohammed
Solaiman, Managing Director Md. Abdur Rahman Sarker, Additional Managing
Director Mukhter Hossain and Deputy Managing Director Md. Abdul Jabber
Chowdhury were present in the meeting. 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
SJIBL organises discussion meet at Ctg
New Nation (Bangladesh): 21 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
21 -- Chittagong City based branches of Shahjalal Islami Bank Ltd(SJIBL) have
recently organized a discussion meeting and Iftar mehfil atChittagong Club. The
Chairman of the Board of Directors of the Bank AnwerHossain Khan and Former
Chairman Mohammed Solaiman attended at Mehfil as ChiefGuest and special guest,
respectively.
Anwer Hossain Khan
in his speech said that Shahjalal IslamiBank is a Shariah based modern bank and
strongly supervised by the ShariahSupervisory Committee. The bank wants to play
a vital role in the economy ofChittagong and contributes to the investment of
the various sectors. Amongothers Former Chairman of the Bank Engr. Md. Towhidur
Rahman, Vice Chairman Khandoker Sakib Ahmed, Managing DirectorMd. Abdur Rahman
Sarker, DeputyManaging Director Md. Abdul Jabber Chowdhury and a good number of
clients andwell-wishers were present in the discussion meeting and Iftar.
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
SJIBL organizes meet on zakat for poverty reduction
New Nation (Bangladesh): 19 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
19 -- Shahjalal Islami Bank Ltd (SJIBL) organized a discussion meeting on 'Role
of Zakat in poverty Reduction' and Iftar Mahfil recently at Officers' Club in
the city.
The meeting was
presided over by Anwer Hossain Khan, the Chairman of the Board of Directors of
the bank. Khateeb of Baitul Mokarram National Mosque Prof. Maulana Mohammad
Salahuddin was present as chief guest. 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
SJIBL 34th Shariah Council meeting held
New Nation (Bangladesh): 16 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
16 -- The 34th meeting of Shariah Council of Shahjalal Islami Bank Ltd (SJIBL)
was held at its Head Office on Wednesday. Shariah Council Chairman Maulana
Mufti Abdur Rahman presided over the meeting. Among others the Chairman of the
Board of Directors and Shariah Council Member Anwer Hossain Khan, Member
Shariah Council of the Bank Professor Dr. Md. Mostafizur Rahman, Shah Abdul
Hannan, Moulana Abul Kalam Azad, Prof. Hamidur Rahman, M Kamaluddin Chowdhury,
Vice Chairman of the Board of Directors Khandoker Sakib Ahmed, Member of the
Board Mohammad Solaiman, Syed Nurul Arefeen, Md. Sanaullah Shahid, Md. Harun
Miah, Mohammad Farooq, Managing Director and Member Secretary Md. Abdur Rahman
Sarker, Additional Managing Director Mukhter Hossain, Deputy Managing Director
Md. Abdul Jabber Chowdhury and Muraquib of the Bank Md. Farid Uddin were
present in the meeting.
The meeting
discussed various issues relating to Shariah based banking and gave necessary
guidelines in this regard. 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
SJIBL Khulna Branch shifted
New Nation (Bangladesh): 11 August 2011
[What follows is the full text of the news story.]
Bangladesh, Aug.
11 -- To cope with the increase volume of business and number of customers'
Shahjalal Islami Bank Ltd (SJIBL) has shifted its Khulna Branch to new premises
at KDA Avenue on Tuesday.
Anwer Hossain
Khan, Chairman of the Board of Directors of the Bank inaugurated the relocated
branch as the chief guest. In his speech, he said that Shahjalal Islami Bank
always gives better services to its clients with latest technology. 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
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
|
|
|
|
|
Interest & Dividends on Investment
Securities |
25.2 |
21.4 |
|
Other Interest Income |
17.1 |
12.5 |
|
Interest Income, Bank |
42.3 |
33.9 |
|
Net Interest Income |
42.3 |
33.9 |
|
|
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|
|
Loan Loss Provision |
3.6 |
3.6 |
|
Net Interest Income after Loan Loss Provision |
38.7 |
30.3 |
|
|
|
|
|
Labor & Related Expenses |
-6.9 |
-4.0 |
|
Depreciation Expense |
-0.8 |
-0.5 |
|
Litigation Expense |
0.0 |
0.0 |
|
Other Expense |
-5.0 |
-3.0 |
|
Non-Interest Expense, Bank |
-12.7 |
-7.5 |
|
Income Before Tax |
26.0 |
22.8 |
|
|
|
|
|
Total Income Tax |
10.5 |
10.9 |
|
Income After Tax |
15.5 |
11.9 |
|
|
|
|
|
Net Income Before Extraord Items |
15.5 |
11.9 |
|
Net Income |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Common Excl Extraord Items |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.5 |
11.9 |
|
|
|
|
|
Basic/Primary Weighted Average Shares |
27.4 |
27.4 |
|
Basic EPS Excl Extraord Items |
0.57 |
0.44 |
|
Basic/Primary EPS Incl Extraord Items |
0.57 |
0.44 |
|
Diluted Net Income |
15.5 |
11.9 |
|
Diluted Weighted Average Shares |
27.4 |
27.4 |
|
Diluted EPS Excl Extraord Items |
0.57 |
0.44 |
|
Diluted EPS Incl Extraord Items |
0.57 |
0.44 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Depreciation, Supplemental |
0.8 |
0.5 |
|
Total Special Items |
0.0 |
0.0 |
|
Normalized Income Before Tax |
26.0 |
22.8 |
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
10.5 |
10.9 |
|
Normalized Income After Tax |
15.5 |
11.9 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.5 |
11.9 |
|
|
|
|
|
Basic Normalized EPS |
0.57 |
0.44 |
|
Diluted Normalized EPS |
0.57 |
0.44 |
Annual Balance Sheet
Financials
in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
|
|
|
|
|
Cash & Due from Banks |
151.6 |
133.6 |
|
Securities Held |
685.0 |
494.3 |
|
Total Investment Securities |
685.0 |
494.3 |
|
Other Earning Assets, Total |
685.0 |
494.3 |
|
Property/Plant/Equipment - Net |
9.0 |
4.9 |
|
Other Assets |
5.2 |
7.2 |
|
Other Assets, Total |
5.2 |
7.2 |
|
Total Assets |
850.7 |
640.1 |
|
|
|
|
|
Accounts Payable |
5.1 |
3.8 |
|
Interest Bearing Deposits |
65.0 |
67.5 |
|
Other Deposits |
680.2 |
493.6 |
|
Total Deposits |
745.1 |
561.2 |
|
Total Long Term Debt |
0.0 |
0.0 |
|
Total Debt |
0.0 |
0.0 |
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.6 |
0.3 |
|
Deferred Income Tax |
0.6 |
0.3 |
|
Other Liabilities |
28.8 |
22.5 |
|
Other Liabilities, Total |
28.8 |
22.5 |
|
Total Liabilities |
779.6 |
587.8 |
|
|
|
|
|
Additional Paid-In Capital |
39.6 |
32.6 |
|
Retained Earnings (Accumulated Deficit) |
28.0 |
19.7 |
|
Unrealized Gain (Loss) |
3.6 |
0.0 |
|
Total Equity |
71.1 |
52.3 |
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
850.7 |
640.1 |
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
27.4 |
27.4 |
|
Total Common Shares Outstanding |
27.4 |
27.4 |
Annual Cash Flows
Financials
in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
|
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
|
|
|
|
Annual Income Statement
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
|
Auditor |
Syful Shamsul
Alam & Co |
Syful Shamsul
Alam & Co |
|
|
|
|
|
Investment Income |
80.1 |
61.8 |
|
Less: Profit paid on Deposits |
-60.8 |
-43.2 |
|
Income from Investment in Shares/securit |
5.9 |
2.8 |
|
Commission, Exchange and Brokerage |
13.4 |
10.1 |
|
Other Operating Income |
3.6 |
2.4 |
|
Total Sale |
42.3 |
33.9 |
|
|
|
|
|
Specific provisions for Classified Inves |
1.2 |
0.1 |
|
General Provisions for Unclassified Inve |
1.8 |
2.0 |
|
General Provisions for Off-Balance Sheet |
0.6 |
1.0 |
|
Provisions for deminution in value of In |
0.0 |
0.4 |
|
Provisions for Other Assets |
0.0 |
0.0 |
|
Total Operating Expense |
3.6 |
3.6 |
|
|
|
|
|
Salaries and Allowances |
-6.8 |
-4.0 |
|
Rent, Taxes, Insurances, Electricity etc |
-1.5 |
-1.0 |
|
Legal Expenses |
0.0 |
0.0 |
|
Postage, Stamps, Telecommunication etc. |
-0.2 |
-0.1 |
|
Stationery, Printings, Advertisements et |
-0.6 |
-0.4 |
|
Chief Executive's Salary & Fees |
-0.1 |
-0.1 |
|
Directors' Fees & Expenses |
-0.1 |
0.0 |
|
Shariah Supervisory Committee's Fees & E |
0.0 |
0.0 |
|
Auditors' Fees |
0.0 |
0.0 |
|
Depreciation & Repairs of Bank's Assets |
-0.8 |
-0.5 |
|
Zakat Expenses |
-0.3 |
0.0 |
|
Other Expenses |
-2.5 |
-1.4 |
|
Total Non-Interest Expense |
-12.7 |
-7.5 |
|
|
|
|
|
Net Income Before Taxes |
26.0 |
22.8 |
|
|
|
|
|
Provision for Income Taxes |
10.5 |
10.9 |
|
Net Income After Taxes |
15.5 |
11.9 |
|
|
|
|
|
Net Income Before Extra. Items |
15.5 |
11.9 |
|
Net Income |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.5 |
11.9 |
|
|
|
|
|
Basic Weighted Average Shares |
27.4 |
27.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.57 |
0.44 |
|
Basic EPS Including ExtraOrdinary Items |
0.57 |
0.44 |
|
Diluted Net Income |
15.5 |
11.9 |
|
Diluted Weighted Average Shares |
27.4 |
27.4 |
|
Diluted EPS Excluding ExtraOrd Items |
0.57 |
0.44 |
|
Diluted EPS Including ExtraOrd Items |
0.57 |
0.44 |
|
DPS-Common Stock |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
26.0 |
22.8 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
10.5 |
10.9 |
|
Normalized Income After Taxes |
15.5 |
11.9 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.5 |
11.9 |
|
|
|
|
|
Basic Normalized EPS |
0.57 |
0.44 |
|
Diluted Normalized EPS |
0.57 |
0.44 |
|
Depreciation, Supplemental |
0.8 |
0.5 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
|
Auditor |
Syful Shamsul
Alam & Co |
Syful Shamsul
Alam & Co |
|
|
|
|
|
Cash in hand (Including Foreign Currenci |
8.1 |
6.5 |
|
Balance with Bangladesh Bank & Sonali Ba |
50.8 |
40.3 |
|
Balance with other Banks & FI's Inside |
25.0 |
7.9 |
|
Balance with other Banks & FI's Outside |
5.8 |
2.4 |
|
Placement with other Banks & FI's |
61.9 |
76.5 |
|
Investments in Shares & Securities Gover |
15.9 |
11.6 |
|
Investments in Shares & Securities Other |
34.4 |
5.0 |
|
Investments General Investment etc |
582.9 |
423.7 |
|
Investments Bills Purchased & Discounted |
51.8 |
54.0 |
|
Fixed Assets Including Premises |
9.0 |
4.9 |
|
Other Assets |
5.2 |
7.2 |
|
Total Assets |
850.7 |
640.1 |
|
|
|
|
|
Placement from other Banks & Financial I |
65.0 |
67.5 |
|
Mudaraba Savings Deposits |
44.4 |
27.0 |
|
Mudaraba Term Deposits |
398.2 |
275.5 |
|
Other Mudaraba Deposits |
180.3 |
147.9 |
|
Al-Wadeeah Current & Other Deposit Accou |
57.3 |
43.2 |
|
Bills Payable |
5.1 |
3.8 |
|
Other Liabilities |
28.8 |
22.5 |
|
Deffered Tax Liabilities |
0.6 |
0.3 |
|
Total Liabilities |
779.6 |
587.8 |
|
|
|
|
|
Paid-up Capital |
39.6 |
32.6 |
|
Statutory Reserve |
17.1 |
12.0 |
|
Retained Earnings |
10.9 |
7.8 |
|
Asset Revaluation Reserve |
3.6 |
0.0 |
|
Total Equity |
71.1 |
52.3 |
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
850.7 |
640.1 |
|
|
|
|
|
S/O-Common Stock |
27.4 |
27.4 |
|
Total Common Shares Outstanding |
27.4 |
27.4 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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|
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|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
Financial
Strength |
||
|
Long Term
Debt/Equity |
0.00 |
0.00 |
|
Total
Debt/Equity |
0.00 |
0.00 |
|
Long Term
Debt/Total Capital |
0.00 |
0.00 |
|
Total Debt/Total
Capital |
0.00 |
0.00 |
|
Payout Ratio |
0.00% |
0.00% |
|
Effective Tax
Rate |
40.36% |
47.78% |
|
Total Capital1 |
71.1 |
52.3 |
|
|
|
|
|
Profitability |
||
|
Pretax Margin |
61.55% |
67.40% |
|
Net Profit
Margin |
36.70% |
35.20% |
|
|
|
|
|
Management
Effectiveness |
||
|
Return on Assets |
2.08% |
- |
|
Return on Equity |
25.10% |
- |
|
1-ExchangeRate:
BDT to USD Period End Date |
69.26 |
68.91 |
|
Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
|
|
|
|
|
Interest & Dividends on Investment
Securities |
25.2 |
21.4 |
|
Other Interest Income |
17.1 |
12.5 |
|
Interest Income, Bank |
42.3 |
33.9 |
|
Net Interest Income |
42.3 |
33.9 |
|
|
|
|
|
Loan Loss Provision |
3.6 |
3.6 |
|
Net Interest Income after Loan Loss Provision |
38.7 |
30.3 |
|
|
|
|
|
Labor & Related Expenses |
-6.9 |
-4.0 |
|
Depreciation Expense |
-0.8 |
-0.5 |
|
Litigation Expense |
0.0 |
0.0 |
|
Other Expense |
-5.0 |
-3.0 |
|
Non-Interest Expense, Bank |
-12.7 |
-7.5 |
|
Income Before Tax |
26.0 |
22.8 |
|
|
|
|
|
Total Income Tax |
10.5 |
10.9 |
|
Income After Tax |
15.5 |
11.9 |
|
|
|
|
|
Net Income Before Extraord Items |
15.5 |
11.9 |
|
Net Income |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Common Excl Extraord Items |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Common Incl Extraord Items |
15.5 |
11.9 |
|
|
|
|
|
Basic/Primary Weighted Average Shares |
27.4 |
27.4 |
|
Basic EPS Excl Extraord Items |
0.57 |
0.44 |
|
Basic/Primary EPS Incl Extraord Items |
0.57 |
0.44 |
|
Diluted Net Income |
15.5 |
11.9 |
|
Diluted Weighted Average Shares |
27.4 |
27.4 |
|
Diluted EPS Excl Extraord Items |
0.57 |
0.44 |
|
Diluted EPS Incl Extraord Items |
0.57 |
0.44 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Depreciation, Supplemental |
0.8 |
0.5 |
|
Total Special Items |
0.0 |
0.0 |
|
Normalized Income Before Tax |
26.0 |
22.8 |
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
10.5 |
10.9 |
|
Normalized Income After Tax |
15.5 |
11.9 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.5 |
11.9 |
|
|
|
|
|
Basic Normalized EPS |
0.57 |
0.44 |
|
Diluted Normalized EPS |
0.57 |
0.44 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
|
|
|
|
|
Cash & Due from Banks |
151.6 |
133.6 |
|
Securities Held |
685.0 |
494.3 |
|
Total Investment Securities |
685.0 |
494.3 |
|
Other Earning Assets, Total |
685.0 |
494.3 |
|
Property/Plant/Equipment - Net |
9.0 |
4.9 |
|
Other Assets |
5.2 |
7.2 |
|
Other Assets, Total |
5.2 |
7.2 |
|
Total Assets |
850.7 |
640.1 |
|
|
|
|
|
Accounts Payable |
5.1 |
3.8 |
|
Interest Bearing Deposits |
65.0 |
67.5 |
|
Other Deposits |
680.2 |
493.6 |
|
Total Deposits |
745.1 |
561.2 |
|
Total Long Term Debt |
0.0 |
0.0 |
|
Total Debt |
0.0 |
0.0 |
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.6 |
0.3 |
|
Deferred Income Tax |
0.6 |
0.3 |
|
Other Liabilities |
28.8 |
22.5 |
|
Other Liabilities, Total |
28.8 |
22.5 |
|
Total Liabilities |
779.6 |
587.8 |
|
|
|
|
|
Additional Paid-In Capital |
39.6 |
32.6 |
|
Retained Earnings (Accumulated Deficit) |
28.0 |
19.7 |
|
Unrealized Gain (Loss) |
3.6 |
0.0 |
|
Total Equity |
71.1 |
52.3 |
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
850.7 |
640.1 |
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
27.4 |
27.4 |
|
Total Common Shares Outstanding |
27.4 |
27.4 |
|
© 1983-2011 Reuters
Research Inc. All Rights Reserved. |
|
|
Published by
OneSource Information Services, Inc., October, 2011. |
|
|
|
|
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.026932 |
68.582616 |
|
Auditor |
Syful Shamsul
Alam & Co |
Syful Shamsul
Alam & Co |
|
|
|
|
|
Investment Income |
80.1 |
61.8 |
|
Less: Profit paid on Deposits |
-60.8 |
-43.2 |
|
Income from Investment in Shares/securit |
5.9 |
2.8 |
|
Commission, Exchange and Brokerage |
13.4 |
10.1 |
|
Other Operating Income |
3.6 |
2.4 |
|
Total Sale |
42.3 |
33.9 |
|
|
|
|
|
Specific provisions for Classified Inves |
1.2 |
0.1 |
|
General Provisions for Unclassified Inve |
1.8 |
2.0 |
|
General Provisions for Off-Balance Sheet |
0.6 |
1.0 |
|
Provisions for deminution in value of In |
0.0 |
0.4 |
|
Provisions for Other Assets |
0.0 |
0.0 |
|
Total Operating Expense |
3.6 |
3.6 |
|
|
|
|
|
Salaries and Allowances |
-6.8 |
-4.0 |
|
Rent, Taxes, Insurances, Electricity etc |
-1.5 |
-1.0 |
|
Legal Expenses |
0.0 |
0.0 |
|
Postage, Stamps, Telecommunication etc. |
-0.2 |
-0.1 |
|
Stationery, Printings, Advertisements et |
-0.6 |
-0.4 |
|
Chief Executive's Salary & Fees |
-0.1 |
-0.1 |
|
Directors' Fees & Expenses |
-0.1 |
0.0 |
|
Shariah Supervisory Committee's Fees & E |
0.0 |
0.0 |
|
Auditors' Fees |
0.0 |
0.0 |
|
Depreciation & Repairs of Bank's Assets |
-0.8 |
-0.5 |
|
Zakat Expenses |
-0.3 |
0.0 |
|
Other Expenses |
-2.5 |
-1.4 |
|
Total Non-Interest Expense |
-12.7 |
-7.5 |
|
|
|
|
|
Net Income Before Taxes |
26.0 |
22.8 |
|
|
|
|
|
Provision for Income Taxes |
10.5 |
10.9 |
|
Net Income After Taxes |
15.5 |
11.9 |
|
|
|
|
|
Net Income Before Extra. Items |
15.5 |
11.9 |
|
Net Income |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
15.5 |
11.9 |
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
15.5 |
11.9 |
|
|
|
|
|
Basic Weighted Average Shares |
27.4 |
27.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.57 |
0.44 |
|
Basic EPS Including ExtraOrdinary Items |
0.57 |
0.44 |
|
Diluted Net Income |
15.5 |
11.9 |
|
Diluted Weighted Average Shares |
27.4 |
27.4 |
|
Diluted EPS Excluding ExtraOrd Items |
0.57 |
0.44 |
|
Diluted EPS Including ExtraOrd Items |
0.57 |
0.44 |
|
DPS-Common Stock |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
26.0 |
22.8 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
10.5 |
10.9 |
|
Normalized Income After Taxes |
15.5 |
11.9 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
15.5 |
11.9 |
|
|
|
|
|
Basic Normalized EPS |
0.57 |
0.44 |
|
Diluted Normalized EPS |
0.57 |
0.44 |
|
Depreciation, Supplemental |
0.8 |
0.5 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
69.26 |
68.91 |
|
Auditor |
Syful Shamsul
Alam & Co |
Syful Shamsul
Alam & Co |
|
|
|
|
|
Cash in hand (Including Foreign Currenci |
8.1 |
6.5 |
|
Balance with Bangladesh Bank & Sonali Ba |
50.8 |
40.3 |
|
Balance with other Banks & FI's Inside |
25.0 |
7.9 |
|
Balance with other Banks & FI's Outside |
5.8 |
2.4 |
|
Placement with other Banks & FI's |
61.9 |
76.5 |
|
Investments in Shares & Securities Gover |
15.9 |
11.6 |
|
Investments in Shares & Securities Other |
34.4 |
5.0 |
|
Investments General Investment etc |
582.9 |
423.7 |
|
Investments Bills Purchased & Discounted |
51.8 |
54.0 |
|
Fixed Assets Including Premises |
9.0 |
4.9 |
|
Other Assets |
5.2 |
7.2 |
|
Total Assets |
850.7 |
640.1 |
|
|
|
|
|
Placement from other Banks & Financial I |
65.0 |
67.5 |
|
Mudaraba Savings Deposits |
44.4 |
27.0 |
|
Mudaraba Term Deposits |
398.2 |
275.5 |
|
Other Mudaraba Deposits |
180.3 |
147.9 |
|
Al-Wadeeah Current & Other Deposit Accou |
57.3 |
43.2 |
|
Bills Payable |
5.1 |
3.8 |
|
Other Liabilities |
28.8 |
22.5 |
|
Deffered Tax Liabilities |
0.6 |
0.3 |
|
Total Liabilities |
779.6 |
587.8 |
|
|
|
|
|
Paid-up Capital |
39.6 |
32.6 |
|
Statutory Reserve |
17.1 |
12.0 |
|
Retained Earnings |
10.9 |
7.8 |
|
Asset Revaluation Reserve |
3.6 |
0.0 |
|
Total Equity |
71.1 |
52.3 |
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
850.7 |
640.1 |
|
|
|
|
|
S/O-Common Stock |
27.4 |
27.4 |
|
Total Common Shares Outstanding |
27.4 |
27.4 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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.