MIRA INFORM REPORT
|
Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
UTTARA BANK LIMITED |
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Registered Office : |
Uttara Bank Bhaban 47, Bir Uttom Shahid
Ashfaq-us-samad Road (90, Motijheel Commercial
Area), P.O. Box No. 217 & 818 Dhaka-1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.06.1983 |
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Com. Reg. No.: |
C-10876 |
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Legal Form : |
Public Limited Company |
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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 : |
Usually Correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 DETAILS
|
Name |
Uttara Bank
Limited |
|
Address |
Uttara Bank Bhaban 47, Bir Uttom Shahid Ashfaq-us-samad Road (90, Motijheel Commercial Area), P.O. Box
No. 217 & 818 Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9551162-3, 9553085-6, 9558656, 9566067-9, 9565732, 9568941 |
|
Fax No |
880-2-7168376, 9572102, 9561392 |
|
E-Mail |
uttara@citechco.net,
ublmis@citechco.net,
ublid@citechco.net,
ublid@dhaka.net,
ublidgen@uttarabank.com, ublidrem@uttarabank.com |
|
Website |
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Established |
June
1983 |
|
Company Registration No |
C-10876 |
|
Registration date |
29th
June 1983 |
|
Issuing Authority |
The Registrar of Joint Stock of Companies & Firms, Dhaka. |
|
Legal Status |
Public Limited |
|
Stock Code |
UTTARABANK |
|
Business Type |
General Banking |
|
Status |
Satisfactory |
|
Litigation |
NIL |
LOCATIONS
|
Head Office |
Uttara Bank Bhaban 47, Bir Uttom Shahid Ashfaq-us-samad Road (90, Motijheel Commercial Area), P.O. Box
No. 217 & 818 Dhaka-1000 |
|
Telephone No |
880-2-9551162-3, 9553085-6, 9558656, 9566067-9, 9565732, 9568941 |
|
Fax No |
880-2-7168376, 9572102, 9561392 |
|
E-Mail |
uttara@citechco.net,
ublmis@citechco.net,
ublid@citechco.net,
ublid@dhaka.net,
ublidgen@uttarabank.com, ublidrem@uttarabank.com |
|
Website |
|
|
Branch |
231 |
|
Factory |
N/A |
|
S.W.I.F.T.: |
UTBLBDDH |
DIRECTORS
|
Name |
Mr. Azharul Islam |
|
Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Iftekharul Islam |
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Designation |
Vice Chairman |
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Nationality |
Bangladeshi |
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|
Name |
Mr. Shamsuddin Ahmed |
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Designation |
Managing Director |
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Nationality |
Bangladeshi |
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Name |
Mr. Abul Barq Alvi |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Col. Engr. M. S. Kamal (Retd) |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
General Banking |
|
Range of Services |
4 Consumer Credit 4 Personal Loan 4 Small Business Loan 4 Building Repair Loan 4 Savings Accounts 4 Short Term Deposit Account 4 Fixed Deposit Receipt Account 4 Opening Account 4 Standard Settlement Instruction 4 Remittance 4 AD Branches |
FINANCIAL INFORMATION
Uttara
Bank Limited
Balance
Sheet
As
At 31 December 2010
|
PROPERTY AND ASSETS |
Taka |
|
Cash |
6,637,786,903 |
|
Cash in Hand (including foreign currencies) |
1,294,274,237 |
|
Balance with Bangladesh Bank and its agent Bank(s) (including
foreign currencies) |
5,343,512,666 |
|
Balance with other Banks and financial institutions |
399,461,149 |
|
In Bangladesh |
2,922,415 |
|
Outside Bangladesh |
396,538,734 |
|
Money at call and short notice |
29,600,000 |
|
Investments |
18,591,127,858 |
|
Government |
18,429,298,854 |
|
Others |
161,829,004 |
|
Loans and Advances |
48,672,687,127 |
|
Loans, Cash Credits, Over Drafts etc. |
44,372,359,512 |
|
Bills discounted and purchased |
4,300,327,615 |
|
Fixed assets including Land, Building Furniture and
Fixtures |
2,798,141,777 |
|
Other Assets |
4,228,815,180 |
|
Non Banking Assets |
94,202,809 |
|
TOTAL ASSETS |
81,451,822,803 |
|
LIABILITIES AND CAPITAL |
|
|
Liabilities |
|
|
Borrowings from other Banks, Financial Institutions
and Agents |
206,875,583 |
|
Deposits and other accounts |
65,868,030,947 |
|
Current and Other Accounts etc. |
23,125,023,246 |
|
Bills Payable |
1,692,242,882 |
|
Savings Bank Deposits |
23,794,594,646 |
|
Fixed Deposits |
15,130,072,230 |
|
Other deposits |
2,126,097,943 |
|
Other liabilities |
6,766,076,457 |
|
TOTAL LIABILITIES |
72,840,982,987 |
|
CAPITAL/SHARE HOLDERS' EQUITY |
|
|
Issued, Subscribed and paid up capital |
2,395,977,600 |
|
Statutory reserve |
2,370,837,039 |
|
Other reserve |
2,853,862,188 |
|
Profit and Loss account surplus/Retained earnings |
990,162,989 |
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TOTAL SHARE HOLDERS' EQUITY |
8,610,839,816 |
|
TOTAL LIABILITIES AND SHARE HOLDERS' EQUITY |
81,451,822,803 |
Uttara
Bank Limited
Profit
And Loss Account
For
The Year Ended 31 December 2010
|
OPERATING INCOME |
Taka |
|
Interest-Income |
4,841,862,389 |
|
Interest-paid on deposits borrowings etc. |
2,959,915,391 |
|
Net Interest Income |
1,881,946,998 |
|
Income from Investment |
2,206,593,581 |
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Commission, Exchange and Brokerage |
939,090,516 |
|
Other Operating Income |
780,671,115 |
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Total operating income |
5,808,302,210 |
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OPERATING EXPENSES |
|
|
Salary and allowances |
1,593,059,377 |
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Rent, taxes, insurance, electricity etc |
194,414,151 |
|
Legal expenses |
10,115,024 |
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Postage, stamp, telecommunication etc. |
37,249,289 |
|
Stationery, printing, advertisements etc. |
69,706,067 |
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Managing Director's salary & allowances and fees |
10,614,666 |
|
Directors' fees and expenses |
2,392,000 |
|
Auditors' fees |
300,000 |
|
Repair, maintenance and depreciation of Bank's property |
150,533,394 |
|
Other expenses |
673,037,516 |
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Total operating expenses |
2,741,421,484 |
|
Profit/(Loss) before provision |
3,066,880,726 |
|
Provision |
265,000,000 |
|
Provision for loans & advances |
240,000,000 |
|
Provision for Other |
20,000,000 |
|
Transfer to benevolent fund |
5,000,000 |
|
Profit before tax |
2,801,880,726 |
|
Provision for Taxation: |
1,250,000,000 |
|
Current tax |
1,239,639,400 |
|
Deferred tax |
10,360,600 |
|
Profit after taxation |
1,551,880,726 |
|
Retained earning brought forward |
8,282,263 |
|
Profit available for appropriation |
1,560,162,989 |
|
Appropriations |
570,000,000 |
|
Statutory reserve |
570,000,000 |
|
General reserve |
----------------- |
|
Retained
earnings |
990,162,989 |
|
Earning per share (EPS) |
6.48 |
Auditors: ATA KHAN & CO.
Chartered Accountants
Dhaka
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.6130 |
|
U.S Dollar |
1 |
74.2200 |
|
European Euro |
1 |
104.6131 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Record Found |
|
Debt |
No Record Found |
|
Litigation |
No Record Found |
|
Performance
Defaults |
No Record Found |
|
Adverse Press
Coverage |
No Record Found |
|
Money Laundering |
No Record Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
N/A |
N/A |
GENERAL INFORMATION
|
Employees |
3,562 |
|
Office Area (Sq.
Ft) |
5,300 sq.ft (own) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(own) |
|
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 231 branches all over the country and
they are quite popular among their clients. The subject is a pretty old bank
and is popular mainly among the small and medium entrepreneurs.
Mr. Shamsuddin Ahmed, 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.45.94 |
|
UK Pound |
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
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 |
|
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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.