MIRA INFORM REPORT
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Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
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Name : |
COMMERCIAL BANK OF CEYLON PLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Foreign Bank
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Line of Business : |
General Banking |
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No. of Employees
: |
600 |
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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Maximum Credit Limit : |
US$ 50,000.00 |
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Status : |
Foreign Bank |
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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) |
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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 |
|
Name |
Commercial Bank
of Ceylon Plc |
|
Address |
Hadi Mansion, 2
Dilkusha C/A, Dhaka- 1000 Note: The subject
operates from this address. |
|
Country |
Bangladesh |
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Telephone No |
880-2-7114125 |
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Fax No |
880-2-9565707,
9566574 |
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E-Mail |
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|
Website |
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Bangladesh Operation |
2003 |
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Company Registration No |
The company registered in Sri Lanka |
|
Legal Status |
Foreign Bank |
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Business Type |
General Banking |
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Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
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Head Office |
Hadi Mansion, 2
Dilkusha C/A, Dhaka- 1000 |
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Telephone No |
880-2-7114125 |
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Fax No |
880-2-9565707,
9566574 |
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E-Mail |
|
|
Website |
|
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Branch |
9 |
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Factory |
N/A |
|
Branch |
47, Motijheel
C/A 100 Dhaka, Bangladesh |
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S.W.I.F.T.: |
CCEYBDDH |
|
Name |
Mr.
S. Prabagar |
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Designation |
Country Manager |
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Nationality |
Sri Lankan |
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Name |
Commercial Bank of Ceylon Plc |
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Share Percent |
100% |
|
Country |
Sri Lanka |
|
Line
of Business |
General Banking |
|
Range of
Products & Services |
4 Regular Saving Account
4 Current
Account 4 Short Term
Deposit Account 4 Time
(Fixed) Deposit Account 4 Money
Market Account 4 Dream
Planner Saving Account 4
Shamriddhi Account 4 Bonus
Saving Account 4 High5FD
Account 4 Dotcom
Account 4 SME
Loan 4 Auto
Loan 4
Custodial Services & NITA 4 ATM Services
4
Internet Banking 4 Holiday
Banking 4 Student
Remittance 4 Trade
Finance 4
Automated Deposit Machine 4 Tariff |
Parent
Company Balance Sheet
As
At 31 December 2011
Currency:
Sri Lanka Rupees (In Million)
|
Assets |
2011 |
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Cash And Equivalents |
25,035.3 |
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Trading Asset Securities |
11,997.1 |
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Total Cash And
Short Term Investments |
38,574.3 |
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Restricted Cash |
17,343.0 |
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Total Current
Assets |
58,468.4 |
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Gross Property Plant And Equipment |
12,719.3 |
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Accumulated Depreciation |
-4,216.1 |
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Net Property
Plant And Equipment |
8,503.2 |
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Other Intangibles |
588.3 |
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Other Long-Term Assets |
5,508.0 |
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Total Assets |
441,333.9 |
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Liabilities
& Equity |
|
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Accrued Expenses |
7,146.7 |
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Short-Term Borrowings |
3,457.3 |
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Current Portion Of Long-Term Debt/Capital Lease |
51,777.9 |
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Current Income Taxes Payable |
1,139.2 |
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Other Current Liabilities, Total |
3,529.0 |
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Total Current
Liabilities |
385,454.3 |
|
long-term debt |
7,433.9 |
|
minority interest |
29.6 |
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pension & other post-retirement benefits |
458.2 |
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deferred tax liability non-current |
1,369.6 |
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other non-current liabilities |
2,020.7 |
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total
liabilities |
396,736.6 |
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Common Stock |
16,473.9 |
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Retained Earnings |
24,845.5 |
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Comprehensive Income And Other |
3,248.3 |
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Total Common
Equity |
44,567.7 |
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Total Equity |
44,597.3 |
|
Total
Liabilities And Equity |
441,333.9 |
Parent Company
Income Statement
For the Year Ended
31 December 2011
Currency: Sri
Lankan Rupees (In Million)
|
|
2011 |
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Total Revenues |
24,334.2 |
|
Gross Profit |
24,334.2 |
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Selling General & Admin Expenses, Total |
9,299.2 |
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Ebt, Excluding
Unusual Items |
11,068.6 |
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Ebt, Including
Unusual Items |
11,068.6 |
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Income Tax Expense |
2,973.5 |
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Minority Interest In Earnings |
-0.3 |
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Earnings From Continuing Operations |
8,095.2 |
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Net Income |
8,094.9 |
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Net Income To
Common Including Extra Items |
8,094.9 |
|
Net Income To
Common Excluding Extra Items |
8,094.9 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
131.2062 |
|
U.S Dollar |
1 |
81.8300 |
|
European Euro |
1 |
109.0630 |
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Dishonored
Checks |
No Record Found |
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Debt |
No Record Found |
|
Litigation |
No Record Found |
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Performance
Defaults |
No Record Found |
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Adverse Press
Coverage |
No Record Found |
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Money Laundering |
No Record Found |
|
Amount |
Based On |
|
US$ 50,000.00 |
90 Days |
|
Employees |
600 |
|
Office Area (Sq.
Ft) |
2,800 sq.ft (rented) |
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Factory Area
(Sq. Ft) |
N/A |
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Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(rented) |
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Export Market |
N/A |
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Certifications |
N/A |
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Group Name |
N/A |
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Subsidiaries /
Affiliates |
N/A |
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Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka 4 Bangladesh Association of Bankers,
Dhaka |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.56 |
|
UK Pound |
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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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 |
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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 |
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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.