1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ABHYUDAYA
CO-OPERATIVE BANK LIMITED |
Principal Name 1 |
Mr. Sitaram C Ghandat |
|
Status |
Good |
Principal Name 2 |
Mr. Nityanand M Prabhu |
|
|
|
Registration # |
-- |
|
Street Address |
Abhyudaya Nagar, Building No. 36, G.D. Ambekar Marg, Kalachowky,
Mumbai - 400 033, Maharashtra, India |
||
|
Established Date |
16.01.1964 |
SIC Code |
-- |
|
Telephone# |
91-22-65053708 |
Business Style 1 |
Banking
Activities |
|
Fax # |
91-22-24701271 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
1285 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 720,021,630/- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Reserve Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
47 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A (69) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
45,055,237,000 |
Current Liabilities |
2,762,782,000 |
|
Inventories |
000 |
Long-term Liabilities |
3,313,036,000 |
|
Fixed Assets |
700,251,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
6,075,818,000 |
|
Invest& other Assets |
21,777,336,000 |
Retained Earnings |
8,130,792,000 |
|
|
|
Net Worth |
61,457,006,000 |
|
Total Assets |
67,532,824,000 |
Total Liab. & Equity |
67,532,824,000 |
|
Total Assets (Previous Year) |
53,426,499,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
6,049,885,000 |
Net Profit |
776,446,000 |
|
Sales/ Total Income (Previous yr) |
4,356,755,000 |
Net Profit(Prev.yr) |
185,614,000 |
MIRA INFORM
REPORT
|
Report Date : |
21.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
ABHYUDAYA CO-OPERATIVE BANK LIMITED |
|
|
|
|
Registered
Office : |
Abhyudaya Nagar, Building No. 36, G.D. Ambekar Marg, Kalachowky,
Mumbai - 400 033, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.01.1964 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.720.022 millions |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA06836E |
|
|
|
|
Legal Form : |
Cooperative Bank |
|
|
|
|
Line of Business
: |
Banking
Activities |
|
|
|
|
No. of Employees
: |
1285 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
Large |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established co-operative bank having fine track.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The subject can be considered normal for business dealings at usual
trade terms and conditions. |
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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Abhyudaya Nagar, Building No. 36, G.D. Ambekar Marg, Kalachowky, Mumbai
- 400 033, Maharashtra, India |
|
Tel. No.: |
91-22-65053708 |
|
Fax No.: |
91-22-24701271 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
K.K. Tower, Abhyudaya Bank Lane, Off G. D. Ambekar Marg, Pare!
Village, Mumbai - 400 012, Maharashtra, India |
|
Tel. No.: |
91-22-24140961-64 / 65053690 |
|
Fax No.: |
91-22-24139782 |
|
E-Mail : |
|
|
|
|
|
Regional Office 1 : |
Shambhavi Fortune, Behind KSRTC Bus Stand, Udupi – 576101, Karnataka,
India |
|
Tel. No.: |
91-820-2520467 |
|
Fax No.: |
91-820-2521607 |
|
E-Mail : |
|
|
|
|
|
Regional Office 2 : |
Block B, "Jaymangal House", Opp. Gandhigram, Rly. Station
Ellisbridge, Ahmedabad - 380 009, Gujarat, India |
|
Tel. No.: |
91-79-26581891 / 92 |
|
Fax No.: |
91-79-26580609 |
|
E-Mail : |
|
|
|
|
|
Zonal Office : |
Located at ·
Mumbai ·
Pune |
|
|
|
|
Branch Office : |
·
Located at ·
Mumbai ·
Navi Mumbai ·
Pune ·
Raigad ·
Sindhudurg ·
Nashik ·
Nagpur ·
Aurangabad ·
Nanded ·
Thane ·
Udupi ·
Mangalore ·
Vadodara ·
Ahmedabad |
DIRECTORS
|
Name : |
Mr. Sitaram C Ghandat |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Nityanand M Prabhu |
|
Designation : |
Vice Chairman |
|
|
|
|
Name : |
Mr. Vijay S Morye |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Raghuram V Shetty |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Maruti S Mehetre |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Achyut L Kandpile |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok R Chalke |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mhatarba S Kane |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Harihar S Jaiswar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Jessie C D’Silva |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Ratnamala M Gorde |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sandeep S Ghandat |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jayantilal C Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Waman V Nalbhimwar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jagajeevandas Raai |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vinod K Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mohan S Ghandat |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Amba P Patel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shashikant N Shetty |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kishore T Kadam |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rajeev D. Gangal |
|
Designation : |
Chief General Manger |
|
|
|
|
General Managers : |
·
Mr. SadanandK. Nayak (Credit and
Forex) ·
Mr. Dhanji G. Kurlawala
(Accts.
Insp. and Vigi, MIS) ·
Mr. Puneethkumar R.
Shetty (Legal and Recovery) ·
Mr. Prashanth K.
Mohapatra (Treasury and IT) ·
Mr. Sonudas A. Naik (Develp. HRD and
Share) |
|
|
|
|
Deputy General
Managers : |
·
Mr. Prakash K. Naik (Navi Mumbai
Zone) ·
Mr. Anil K. Nikam (Recovery Dept.) ·
Mr. Krishnakumar B.
Sawant (Central Zone) ·
Mr. Girish S. Shintre (Western Zone) ·
Mr. Dattaram H. Dawal (Legal and
Recovery Dept.) ·
Mr. Bhaskar M. Shetty (Pune and Reg.
Off. Udupi) ·
Mr. Anthony P. Naronha (Central Law
Dept.) ·
Mr. Pradeep V. Kamat (Legal and
Recovery Dept.) ·
Mr. Girish V. Rane (Forex and
Treasury Dept.) ·
Mr. Camilo F. Fernandes
(HRM
Dept.) ·
Mr. Premnath S. Salian (Credit Dept.) ·
Mr. Mangesh S. Rane (Legal and
Recovery Dept.) |
|
|
|
|
Asst. General
Managers : |
·
Mr. Anil G. Khatu (Clearing Dept.) ·
Mr. Shahabuddin H.
Pathan (Vigi. Insp. 8s IS Audit) ·
Mr. Lancelot R. Tauro (Forex Dept.) ·
Mr. Robert E. Lewis (Reg. Off.
Udupi) ·
Ms. Jyoti S. Bolar (Secretarial
Dept.) ·
Mr. Satyendra Y.
Bhandarkar (Reg. Off. Ahmedabad) ·
Mr. Pradeep M. Mandke (Plann. 8s Mkt.
Dept.) ·
Mr. Duraiswami
Venkatesan (Account Dept.) ·
Mr. Sunil S. Shetty (I.T. Dept.) ·
Mr. R. A. Kamat (Forex Treasury) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
|
Line of Business : |
Banking
Activities |
GENERAL INFORMATION
|
No. of Employees : |
1285 Approximately |
|
|
|
|
Bankers : |
Reserve Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A P Sanzgiri and Company Chartered Accountant |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
72002163 |
Equity Shares |
Rs.10/- each |
Rs.720.022
millions |
|
|
Individuals (Rs.552.624 Millions) |
|
|
|
|
Others (Rs.167.398 millions) |
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
720.022 |
561.610 |
457.746 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8130.792 |
7923.118 |
7643.139 |
|
|
4] Deposits |
52606.192 |
41706.176 |
31748.103 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
61457.006 |
50190.904 |
39848.988 |
|
|
|
|
|
|
|
|
1] CBLO / REPO |
3069.899 |
0.000 |
0.000 |
|
|
2] Refinance from NABARD |
243.137 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
3313.036 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
64770.042 |
50190.904 |
39848.988 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
700.251 |
634.893 |
479.570 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
21777.336 |
19423.006 |
14073.709 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
4358.108
|
3104.667 |
1719.965 |
|
|
Other Current Assets |
3255.749
|
2491.432 |
2504.074 |
|
|
Term Deposits |
2414.758
|
1875.322 |
4758.280 |
|
|
Money at call and short notice and CBLO |
500.000
|
249.897 |
0.000 |
|
|
Loans & Advances |
34526.622
|
25647.282 |
18563.868 |
|
Total
Current Assets |
45055.237
|
33368.600 |
27546.187 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
2762.782
|
3235.595 |
2250.478 |
|
|
Net Current Assets |
42292.455
|
30133.005 |
25295.709 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
64770.042 |
50190.904 |
39848.988 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Interest and Discount |
5156.742 |
4011.693 |
3578.256 |
|
|
|
Commission and Exchange |
75.089 |
55.641 |
63.528 |
|
|
|
Locker Rent |
11.881 |
7.154 |
6.200 |
|
|
|
Service Charge |
137.727 |
121.139 |
59.889 |
|
|
|
Sundry Income |
103.311 |
69.001 |
77.298 |
|
|
|
Profit on sale of investments |
0.258 |
68.675 |
366.303 |
|
|
|
Reversal of provision for Sick Leave |
0.000 |
19.525 |
313.037 |
|
|
|
BDDR written back |
564.877 |
3.927 |
9.877 |
|
|
|
TOTAL |
6049.885 |
4356.755 |
4474.388 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Interest On Deposits and Borrowings |
2872.372 |
2404.352 |
1795.828 |
|
|
|
Salaries, Allow., Provident Fund, Gratuity etc. |
806.131 |
947.940 |
530.643 |
|
|
|
Directors Sitting Fees and Allow. |
4.308 |
3.981 |
2.882 |
|
|
|
Rent, Taxes, Insurance and Lighting |
236.041 |
178.635 |
135.081 |
|
|
|
Law Charges |
7.209 |
5.365 |
3.219 |
|
|
|
Postage. Telegram and Telephone |
28.761 |
22.712 |
20.735 |
|
|
|
Audit Fees |
7.524 |
7.387 |
6.385 |
|
|
|
Printing and Stationery |
20.770 |
17.744 |
13.598 |
|
|
|
Advertisement |
23.251 |
17.609 |
27.788 |
|
|
|
Amortisation of Software |
9.980 |
7.213 |
10.657 |
|
|
|
Repairs and Maintenance |
46.279 |
40.553 |
36.839 |
|
|
|
Travelling and Conveyance |
7.371 |
5.517 |
5.383 |
|
|
|
Subscription |
1.448 |
1.136 |
1.115 |
|
|
|
Sundry Expenses |
67.831 |
55.230 |
37.443 |
|
|
|
Provision for contingencies (Investment) |
52.718 |
190.641 |
0.000 |
|
|
|
Amortisation of Premium on Investment |
19.897 |
12.488 |
20.328 |
|
|
|
Amortisation of deferred loss on shift of Investment |
0.000 |
3.149 |
134.788 |
|
|
|
Cost of Acquisition (loss) of Merged banks written off |
126.912 |
126.912 |
126.912 |
|
|
|
Provision for Fraud and misappropriation |
0.000 |
0.000 |
0.053 |
|
|
|
Loss on sale of investments |
70.579 |
0.000 |
0.000 |
|
|
|
Provision towards Bad and Doubtful Debts Reserve |
88.900 |
6.500 |
85.500 |
|
|
|
Provision for Re-strucutred accounts |
0.000 |
0.000 |
22.126 |
|
|
|
Provision for expenses |
0.000 |
0.000 |
0.081 |
|
|
|
Bad debts written off |
564.877 |
3.927 |
9.877 |
|
|
|
TOTAL (B) |
5063.159 |
4058.991 |
3027.261 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
986.726 |
297.764 |
1447.127 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
99.274 |
84.659 |
78.189 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
887.452 |
213.105 |
1368.938 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
111.006 |
27.491 |
445.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
776.446 |
185.614 |
923.650 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.78 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
12.83
|
4.26 |
20.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.21
|
5.31 |
38.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.94
|
0.63 |
4.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.00 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.10
|
0.06 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.31
|
10.31 |
12.24 |
LOCAL AGENCY FURTHER INFORMATION
OVERVIEW
Subject was registered in 1964 and is engaged in providing a wide range
of banking and financial services.
OPERATIONAL
RESULTS
The Deposits of the
Bank have grown by Rs.10900.000 millions during the year registering a growth
of 26.14% and the Advances have grown by Rs.8879.300 millions registering a
growth of 34.62%. As a result of the good growth of Advances, the Bank has
achieved a CD ratio of 65.63% as on 31.03.2011 as against the CD ratio of
61.50% as on 31.03.2010.
*(Net profit of
Rs.779.600 millions comprised of the actual amount of Net profit for 2010-11
Rs.776.400 millions plus Rs.3.200 millions pertains to reversal of provision
made towards Income Tax on completion of assessment for F.Y. 2006-07)
MEMBERSHIP
The number of
shareholder members has increased from 129584 to 138703 during the year as
11387 new members were admitted; whereas membership of 2268 members was
discontinued because of resignation, death etc. At the end of the year 2010-11,
the nominal membership of the Bank stood at 78615.
BOARD OF DIRECTORS
The Board of
Directors continued to guide
and monitor functioning and general performance of the Bank. The matters
attended by the Board included planning for all round business development of
the Bank, laying down policies, sanctioning of loans, monitoring recoveries,
etc. The Sub-Committees of the Board, viz. the Executive Committee, the Staff
Sub-Committee, the Recovery Sub-Committee and the Audit Committee efficiently
discharged the functions of monitoring and supervising the working of the Bank.
During the year 137 meetings of the Board and Sub-Committees were held for
conducting the business of the Bank.
Bank's Director Shri
Sandeep Ghandat has been elected as Vice-chairman on the Board of Mumbai
District Central Co-operative Bank Limited. The Board of Directors congratulate
him on his achievement.
IMPORTANT
ACHIEVEMENTS
a) Indian Bank's Association
conferred the Bank with award in the "Technology Bank of the year"
category for the year 2010. The award was given away by former president of
India, H.E. Dr. A.P.J. Abdul Kalam.
b) The Banking
Frontier for the year 2009-10 presented the bank with awards for (Excellence in
Networking, HRD Policy and Annual Report presentation.
ONE TIME
SETTLEMENT SCHEME FOR NON PERFORMING ADVANCES ACCOUNTS
Their Bank has
adopted OTS Scheme for settlement of chronic NPA accounts with the cutoff date
of NPA as 31.03.2007. The Scheme was operative upto 31.03.2011. During the year
Bank has processed 1045 applications.
The Bank has recovered Rs.142.758 millions during April 2010 to March
2011. The last date for accepting OTS application was 28.02.2011 and for disposal
of the proposals was 31.03.2011. 584 accounts are closed during the year and
amount recovered in the closed accounts is Rs.117.708 millions and the
sacrifice amount in closed accounts is Rs.156.086 millions.
During the
financial year 2010-11 the Bank initiated Recovery drive. All officers and
staff at Branches / Departments were involved in the Action Plan. The NPA
accounts were distributed areawise among all the staff and officers for visit
and follow up which yielded good results. The accounts at branches were
followed up through Call Centre functioning at Recovery department which helped
to curtail the NPAs. The Recovery teams were formed at Zonal offices, headed by
the Asst. General Manager for monitoring of loan accounts at branches.
The Commissioner
for Co-operation and Registrar of Co-op, societies Maharashtra State Pune had
not renewed the powers under section 156
of MCS Act delegated to Bank officers for execution of Awards / Recovery
certificates claimed under section 91 and 101 of MCS Act, in view of legal
impediment. The Bank had filed writ petition against the decision of
Commissioner for Co-operation and Registrar of Co-op. Societies before Bombay
High Court. The Bank was continuously following up the matter with Commissioner
for Co-operation and other authorities. In view of the orders passed by Hon'ble
High Court the Commissioner for Co-op, has delegated SRO powers to Bank
officers for execution of Awards / Recovery Certificate obtained under MCS Act
1960 which has provided boost to Recovery Drive and helped us to reduce the
NPAs.
PROVISIONS,
CONTINGENT LIABILITIES AND CONTINGENT ASSETS
·
All letters of credit / guarantees are sanctioned
to customers with approved credit limits in place. Liability thereon is
dependant on terms of contractual obligations, devolvement, rising of demand by
concerned parties and the amount being called up. These amounts are
collateralized by margins, counter-guarantees and secured charges.
·
Contingent liabilities include disputed rent of
Rs.3.749 millions in respect of old Ghatkopar branch premises, for which the
Bank has received a legal advice that the claim is not tenable and the matter
is being contested legally.
WEB DETAILS
Profile
Subject, one of the Urban Co-operative
Banks in India, in its outlook and approach, has the objective of progress and
prosperity of all. From a humble beginning in January 1964 as a Co-operative
Credit society with a share capital of a merely Rs.5,000/- held by 83 members,
today subject has become one of the large Urban Co-operative Banks with a
"Scheduled Bank" status. The Bank has been converted into a ”Multi-State Scheduled Urban Co-op. Bank "
w.e.f. 11th January, 2007. The area of operation which was restricted to the
State of Maharashtra has now been extended to Karnataka and Gujarat State.
Currently, the capital base of the bank stands at Rs.720.000 millions and
Reserves at Rs.7351.100 millions as on 31.03.2011
The bank has 1,38,000 members and
more than 14 lakh depositors. The
Bank has seen a tremendous growth in deposits. The deposits of the bank are
over Rs.52606.300 millions
as on 31.03.2011, which were Rs.41706.200 millions as at the end of the
financial year 2009-2010. The loans and advances stood at Rs.34526.600 millions as on 31.03.2011. The
bank had posted a “Net Profit of Rs.779.600 millions as on 31.03.2011”. The growth rate of the bank
compares well with that of others in the sector. The Bank has maintained a
steady growth. The bank has been paying dividend @ 15% to its members. The Bank
has launched different loan schemes tailor-made to suit the needs of various
customers. The schemes aim at providing loans for purchase or construction of
residential premises, repair/renovation of house property, purchase of car,
seeking higher education and for purchase of household consumer durable. One of
the loan schemes, viz. "Udyog Vikas Yojana" is
specially designed for the benefit of small entrepreneurs and businessmen. The
procedure for sanctioning of loans under the schemes has been simplified and
relaxed with a view to benefit the customers and facilitating speedy sanction
of loans. The Bank has total 105 branches
including a Mobile Bank at Navi Mumbai. Bank is committed to spread network of
branches throughout the State and provide much needed banking services to the
population, which has been deprived of the banking facilities.
Innovative Banking is another area of operation that subject is currently
focusing on for a sustainable long term growth. The Bank has always endeavored
for providing excellent customer service with the help of the latest
technology. The Bank has provided fully computerized services to its valued
clients. Bank is offering 11 hours fully computerized services and 7 days working
at 18 branches and 24 hours ATM service at 85 branches.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.71 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.68.05 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
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%)
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 report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.