MIRA INFORM REPORT
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Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
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Name : |
CITY BANK LTD |
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Registered Office : |
City Bank Center, 136, Gulshan Avenue, Gulshan-2 Dhaka, 1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1983 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Subject provides all kinds of commercial banking, consumer banking, trade
services, small and medium enterprises (SME), retail, custody and clearing
services to its customers |
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No. of Employees : |
1,991 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company name & address
City Bank Ltd
City Bank Center, 136,
Gulshan Avenue, Gulshan-2
Dhaka, 1212
Bangladesh
Tel: 880-28-813483
Fax: 880-29-884446
Synthesis
Employees: 1,991
Company Type: Public Independent
Traded: Dhaka
Stock Exchange: CITYBANK
Incorporation Date: 1983
Auditor: Hoda
Vasi Chowdhury & Co
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency:
Bangladesh Taka
Annual Sales: 105.8
1
Net Income: 26.9
Total Assets: 1,286.8 2
Market Value: 208.0 (26-Jul-2012)
Business Description
City Bank Limited (the Bank) provides all kinds of commercial banking,
consumer banking, trade services, small and medium enterprises (SME), retail,
custody and clearing services to its customers through its branches and SME
Service Centering Bangladesh. Through the Islamic Banking Branch the Bank
extends Islamic Shariah Compliant finance, such as lease, hire purchase
shirkatul melk (HPSM), bai muazzal and household scheme, and deposit, such as
mudaraba savings deposits, mudaraba term deposits, al-wadeeah current deposits
and monthly /quarterly profit paying scheme. The City Bank Limited offers
financial services, including current and saving accounts, personal loans,
period deposit. As of December 31, 2010, the Bank had 88 branches and 11 SME
centers all over Bangladesh. The Bank had no overseas branches. Out of the 88
branches, one branch is designated as Islamic Banking Branch. As of December
31, 2010, the Bank had 72 automated teller machine (ATMs) and 11 SME centers.
For the fiscal year ended 31 December 2010, City Bank Ltd's, interest income
totaled BDT7.1B. Net interest income after loan loss provision totaled
BDT3.04B. Net income totaled BDT1.87B. Net interest income reflects reflects
higher interest income. Net income reflects a higher investment income. The
City Bank Ltd started its operation in 1983 in Bangladesh. It is one of the top
commercial bank in Bangladesh.
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
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Name |
Title |
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Kazi Mahmood Sattar |
CEO & Managing Director |
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Ehsan Khasru |
Deputy Managing Director, Acting CFO & Head-Credit Management |
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Mohammad Maroof |
Head of Wholesale Banking |
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Mashrur Arefin |
COO, Deputy Managing Director & Chief Communications Officer |
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Kazi Azizur Rahman |
Head of IT |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Strategic Combinations |
1 |
City Bank Ltd And International Finance Corporation Sign Investment
Mandate-The New Nation (Bangladesh) |
21-Jan-2012 |
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Business Deals |
1 |
Pran RFL Group Signs Cash Management Agreement With City Bank Ltd-The Financial
Express (Bangladesh) |
24-Dec-2011 |
* number of
significant developments within the last 12 months
News
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Title |
Date |
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Help needed to 'Stuff the Bus' |
4-Aug-2012 |
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Edgewood Vista owner returns to oil roots |
4-Aug-2012 |
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Festival will go on, thanks to community |
3-Aug-2012 |
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BRIEF: Racine man arrested in South
Milwaukee bank robbery case |
2-Aug-2012 |
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Fla. property record official despite
clerk error |
2-Aug-2012 |
Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = BDT 69.60265
2 - Balance Sheet Item Exchange Rate: USD 1 = BDT 70.475
Corporate Overview
Location
City Bank Center, 136
, Gulshan Avenue, Gulshan-2
Dhaka, 1212
Bangladesh
Tel: 880-28-813483
Fax: 880-29-884446
Quote Symbol – Exchange CITYBANK
- Dhaka Stock Exchange
Sales BDT(mil): 7,361.4
Assets BDT(mil): 90,685.1
Employees: 1,991
Fiscal Year End: 31-Dec-2010
Industry: Commercial
Banks
Incorporation Date: 1983
Company Type: Public
Independent
Quoted Status: Quoted
CEO & Managing Director : Kazi
Mahmood Sattar
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
6221 - Banking
6411 - Financial Asset Broking Services
6230 - Non-Depository Financing
NACE 2002 Codes:
6712 - Security broking and fund management
6522 - Other credit granting
6512 - Other monetary intermediation
NAICS 2002 Codes:
522120 - Savings Institutions
52211 - Commercial Banking
523110 - Investment Banking and Securities Dealing
522291 - Consumer Lending
US SIC 1987:
6035 - Savings Institutions, Federally Chartered
6029 - Commercial Banks, Not Elsewhere Classified
6211 - Security Brokers, Dealers, and Flotation Companies
6141 - Personal Credit Institutions
UK SIC 2003:
6712 - Security broking and fund management
6522 - Other credit granting
65121 - Banks
Business
Description
City Bank Limited
(the Bank) provides all kinds of commercial banking, consumer banking, trade services,
small and medium enterprises (SME), retail, custody and clearing services to
its customers through its branches and SME Service Centering Bangladesh.
Through the Islamic Banking Branch the Bank extends Islamic Shariah Compliant
finance, such as lease, hire purchase shirkatul melk (HPSM), bai muazzal and
household scheme, and deposit, such as mudaraba savings deposits, mudaraba term
deposits, al-wadeeah current deposits and monthly /quarterly profit paying
scheme. The City Bank Limited offers financial services, including current and
saving accounts, personal loans, period deposit. As of December 31, 2010, the
Bank had 88 branches and 11 SME centers all over Bangladesh. The Bank had no
overseas branches. Out of the 88 branches, one branch is designated as Islamic
Banking Branch. As of December 31, 2010, the Bank had 72 automated teller
machine (ATMs) and 11 SME centers. For the fiscal year ended 31 December 2010,
City Bank Ltd's, interest income totaled BDT7.1B. Net interest income after
loan loss provision totaled BDT3.04B. Net income totaled BDT1.87B. Net interest
income reflects reflects higher interest income. Net income reflects a higher
investment income. The City Bank Ltd started its operation in 1983 in
Bangladesh. It is one of the top commercial bank in Bangladesh.
More Business
Descriptions
· Commercial and private banking services
Banking
Services
Commercial
Banking
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Executive report
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Board of
Directors |
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Chairman |
Chairman |
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Chairman |
Chairman |
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Board Member |
Vice-Chairman |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Board Member |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Board Member |
Director/Board Member |
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CEO & Managing Director |
Director/Board Member |
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Executives |
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President & Managing Director |
Chief Executive Officer |
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CEO & Managing Director |
Chief Executive Officer |
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COO, Deputy Managing Director & Chief Communications Officer |
Managing Director |
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Deputy Managing Director & Chief Business Officer |
Managing Director |
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Deputy Managing Director, Acting CFO & Head-Credit Management |
Managing Director |
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Head of Wholesale Banking |
Administration Executive |
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Head of Credit Risk Management |
Finance Executive |
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Head-HR |
Human Resources Executive |
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Head of IT |
Engineering/Technical Executive |
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Head-Internal Control & Compliance |
Legal Executive |
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Head-Retail Banking |
Other |
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Head-SME Banking |
Other |
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Significant Developments
City Bank Ltd And International Finance Corporation Sign Investment
Mandate-The New Nation (Bangladesh)
Jan 21, 2012
The New Nation (Bangladesh) reported that, City Bank Ltd and International Finance Corporation (IFC) recently signed a mandate for investment. According to the mandate, IFC will now undertake necessary steps to enlist City Bank under its global trade finance program and provide short-term finance facilities. City Bank will be able to provide lower cost dollar finance and strengthen its trade finance services.
Pran RFL Group Signs Cash Management Agreement With City Bank Ltd-The Financial Express (Bangladesh) Dec 24, 2011
The Financial Express (Bangladesh) reported that, City Bank Ltd and Pran RFL Group have recently signed a memorandum of understanding for an effective cash management solution. Under this agreement, City Bank will collect receivables and payment from distributors of four concerns of Pran RFL Group- Rangpur Metal Industries Limited, Pran Foods Limited, Banga Building Materials Ltd and Durable Plastic Ltd- through City Bank's wide distribution network.
Capital City Bank
Group swings to loss in Q2 2012
M2 Banking &
Credit News (BCN)
25 July 2012
[What follows is
the full text of the article.]
BANKING AND CREDIT NEWS-July 25, 2012--Capital City Bank Group swings to loss in Q2 2012(C)2012 M2 COMMUNICATIONS http://www.m2.com
25 July 2012 - Capital City Bank Group Inc (Nasdaq:CCBG) fell into a net loss of USD1.7m (EUR1.4m) in the three months to June, compared with net income of USD2.1m in the same period in 2011, the parent of US-based Capital City Bank said on Tuesday.
The loss per diluted share was USD0.10 in the quarter, against earnings per diluted share of USD0.12 in the same period last year. The deficit was a result of a decline in net interest income to USD21.1m from USD23.4m last year and a drop in non-interest income to USD13.9m from USD14.4m in 2011, a provision for loan losses of USD5.7m, against USD3.5m previously, and non-interest expense of USD32.3m, up from USD31.2m last year.
In the first half of 2012, the company booked a net loss of USD2.9m, against net income of USD3.5m in the first six months of 2011. The loss per diluted share was USD0.17, versus earnings per diluted share of USD0.20 last year.
As of 30 June 2012, the company's total assets stood at USD2.645bn, up from USD2.599bn a year earlier, with non-performing assets at 5.02% of total assets, up from 4.70% previously. Net loans eased to USD1.53m from USD1.66bn at the end of June 2012. Total deposits were USD2.15bn at the end of the period, against USD2.10bn last year.
The company's Tier 1 capital ratio was 14.17% as of 30 June, up from 13.83% last year, while the total capital ratio was 15.54%, compared with 15.19% as of 30 June 2011.
United States :
IFC Invests $55 Million in Bangladesh s City Bank to Fund Small Businesses
TendersInfo News
29 June 2012
[What follows is
the full text of the article.]
IFC, a member of
the World Bank Group, is providing $55 million in a loan and trade guarantee to
Bangladesh s The City Bank to help it meet the short-term foreign exchange
requirements of its small and medium business clients in the wake of a
foreign-currency liquidity squeeze.
The funds are in
the form of a short-term, $25 million loan from IFC s Bangladesh Small and
Medium Enterprise Liquidity Facility, and a $30 million guarantee from IFC s
Global Trade Finance Program, which promotes trade among emerging markets.
A plan to phase
out direct foreign exchange support by the central bank has disrupted the
foreign exchange market, and this investment will enable The City Bank to issue
and discount timely letters of credit, allowing export-oriented small and
medium enterprises to have continued access to trade finance. Additionally, the
loan and trade guarantee will pay for critical value-chain imports, promoting
Bangladesh s global trade.
Mahmood Sattar,
CEO of The City Bank, said, IFC helped fill a critical liquidity need of their borrowers
in a market where working capital and trade finance is either prohibitively
costly or not available.
Kyle F. Kelhofer,
IFC Country Manager in Bangladesh, said, This investment seeks to strengthen
local financial institutions with capital needed for trade financing. The funds
will especially support export-oriented companies and small entrepreneurs
forming the backbone of the country s economy. Most of these enterprises
import, add value, and then re-export merchandise.
Last year, IFC s
$80 million Bangladesh Small and Medium Enterprise Liquidity Facility provided
financing support to BRAC Bank, Eastern Bank, and Southeast Bank.
About IFC
IFC, a member of
the World Bank Group, is the largest global development institution focused
exclusively on the private sector. We help developing countries achieve
sustainable growth by financing investment, providing advisory services to
businesses and governments, and mobilizing capital in the international
financial markets. In fiscal 2011, amid economic uncertainty across the globe,
we helped our clients create jobs, strengthen environmental performance, and
contribute to their local communities all while driving our investments to an
all-time high of nearly $19 billion.
IFC Invests $55 Million in Bangladesh's City Bank
to Fund Small Businesses
India Public Sector News
28 June 2012
[What follows is the full text of the article.]
New Delhi, June 28
-- IFC, a member of the World Bank Group, is providing $55 million in a loan
and trade guarantee to Bangladesh's The City Bank to help it meet the
short-term foreign exchange requirements of its small and medium business
clients in the wake of a foreign-currency liquidity squeeze.
The funds are in
the form of a short-term, $25 million loan from IFC's Bangladesh Small and
Medium Enterprise Liquidity Facility, and a $30 million guarantee from IFC's
Global Trade Finance Program, which promotes trade among emerging markets.
A plan to phase
out direct foreign exchange support by the central bank has disrupted the foreign
exchange market, and this investment will enable The City Bank to issue and
discount timely letters of credit, allowing export-oriented small and medium
enterprises to have continued access to trade finance. Additionally, the loan
and trade guarantee will pay for critical value-chain imports, promoting
Bangladesh's global trade.
Mahmood Sattar,
CEO of The City Bank, said, "IFC helped fill a critical liquidity need of
their borrowers in a market where working capital and trade finance is either
prohibitively costly or not available."
Kyle F. Kelhofer,
IFC Country Manager in Bangladesh, said, "This investment seeks to
strengthen local financial institutions with capital needed for trade
financing. The funds will especially support export-oriented companies and
small entrepreneurs forming the backbone of the country's economy. Most of
these enterprises import, add value, and then re-export merchandise."
Last year, IFC's
$80 million Bangladesh Small and Medium Enterprise Liquidity Facility provided
financing support to BRAC Bank, Eastern Bank, and Southeast Bank.
SunTrust Invests in Struggling Atlanta Community
Bank
American Banker
18 May 2012
By Alan Kline
[What follows is the full text of the article.]
A minority-owned bank
in Atlanta that is under orders from its regulators to add fresh capital is
getting a shot in the arm from SunTrust Banks (STI).
Capitol City Bank,
which is struggling to regain its footing following the real estate bust, has
already received a $1 million cash infusion from SunTrust and is expecting
another $3 million from Atlanta's largest bank, bank officials said.
The $4 million
investment is expected to restore the $297 million-asset Capitol City to
"well-capitalized" status a it is currently "adequately
capitalized" a and could hasten its release from a federal enforcement
order it has been operating under since early 2010. Among other things, the
order requires it to boost capital levels and reduce its level of problem loans
and prohibits from meaningfully growing its assets without regulators'
approval.
Capitol City and
SunTrust announced the partnership last week. The news was first reported by
the Atlanta Journal-Constitution.
SunTrust officials
said that its investment in Capitol City was the only one of its kind in a
minority-owned bank. In a news release, its chairman, president and chief
executive, William H. Rogers, said that Capitol City president and CEO George
Andrews "shares our commitment to serving Atlantans and we are pleased to
support the institution he leads as it works to meet the financial needs of the
urban and minority communities in the area."
Rogers added that
Andrews is a SunTrust alumnus.
Andrews said in
the news release that he was grateful for SunTrust's support. The bank lost
more than $700,000 last year and as of Dec. 31, nearly 12% of its loans were at
least 90 days past due, according to the Federal Deposit Insurance Corp.
"If Capitol
City Bank did not have enough capital to survive, our absence from the marketplace
would leave a tremendous void," he said.
SunTrust is
expected to receive Community Reinvestment Act credit for its investment.
Capital City Bank's net loss widens in Q1 2012
M2 EquityBites (EQB)
01 May 2012
[What follows is the full text of the article.]
M2 EQUITYBITES-May
1, 2012--Capital City Bank's net loss widens in Q1 2012(C)2012 M2
COMMUNICATIONS http://www.m2.com
1 May 2012 - US financial services provider Capital City Bank Group (NASDAQ:CCBG) saw its net loss widen to USD1.2m (EUR905,100) in the first quarter of 2012 from USD500,000 in the last three months of 2011.
The figure
corresponds to a loss of USD0.07 per diluted share against USD0.03 in the
fourth quarter of the previous year. The bank reported a net profit of USD1.3m
in January-March 2011, equal to earnings of USD0.08 per share.
Capital City Bank
attributed the inferior result to a decline in operating revenues, higher
non-interest costs and increased income taxes.
The net interest
income, on a tax equivalent basis, fell to USD21.8m in January-March 2012 from
USD23.3m in the year-earlier period. Its net interest margin was 3.87%,
declining by 27 basis points over the first quarter of 2011. Non-interest income
slipped by 16.8% on an annual basis to USD13.6m.
The bank's average
earnings assets came in at UD2.26bn on 1 April, down 0.5% on the year.
Non-performing assets rose by an annual USD7.5m to USD136.8m in the period,
with their share rising to 5.14% of total assets from 4.86% on 31 March 2011.
Non-accrual loans totalled USD78.7m, growing by USD4.8m compared with the first
quarter of 2011 due to the addition of one large commercial real estate loan.
Loan loss
provisions rose to USD4.8m from USD4.1m, with net charge-offs representing
1.16% of average loans against 1.33% last year.
Its total deposits
climbed by 1.7% year-on-year to USD2.16bn in the quarter thanks to an
improvement in public funds balances, savings and non-interest bearing
deposits.
Its Tier 1 capital
ratio rose to 14.17% from 13.46% last year, bringing the total capital ratio to
15.54% against 14.82% in 2011.
Regulators Fail Chicago-Based New City Bank
American Banker
12 March 2012
By Robert Barba
[What follows is the full text of the article.]
For a second time
in three weeks, regulators have shuttered a bank that others were unwilling to
acquire.
The Illinois
Department of Financial and Professional Regulation closed the $71.2 million-asset
New City Bank in Chicago, The Federal Deposit Insurance Corp. announced it had
approved a payout for insured depositors because it was unable to locate a
buyer for the failed bank.
The FDIC will mail
checks to the insured deposits. The bank had deposits of $72.4 million at Dec.
31, 2011. The agency said the amount of uninsured depositors will be determined
once it obtains additional information from those customers.
Meanwhile, it said
it will retain the bankas assets for further disposition. The failure is
expected to cost the Deposit Insurance Fund $17.4 million. New City is the 13th
bank to fail so far this year.
Last month, the
FDIC was unable to find a buyer for Home Savings of America in Little Falls,
Minn., after it was closed by the Office of the Comptroller of the Currency.A
The failure of that institution, which had $434.1 million in assets, is
expected to cost the Deposit Insurance Fund $38.8 million.
New City Bank closed by regulators
Global Banking News (GBN)
12 March 2012
[What follows is the full text of the article.]
Global Banking
News-March 12, 2012--New City Bank closed by regulators(C)2012 ENPublishing –
Global Banking News - 12 March 2012
American regulators have closed Chicago-based New City Bank.
The closure has taken the number of bank failures in the US this year to 13.
New City Bank was closed by the Illinois Department of Financial and Professional Regulation - Division of Banking. As of December 31, 2011, the bank had USD71.2m in total assets and USD72.4m in total deposits.
[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]
UNITED STATES : FDIC Approves the Payout of the
Insured Deposits of New City Bank, Chicago, Illinois
TendersInfo News
10 March 2012
[What follows is the full text of the article.]
The Federal
Deposit Insurance Corporation (FDIC) approved the payout of the insured
deposits of New City Bank, Chicago, Illinois. The bank was closed today by the
Illinois Department of Financial and Professional Regulation Division of
Banking, which appointed the FDIC as receiver.
The FDIC was
unable to find another financial institution to take over the banking
operations of New City Bank. The FDIC will mail checks directly to depositors
of New City Bank for the amount of their insured money.
Customers with
questions about today's transaction, including those with accounts in excess of
$250,000, should call the FDIC toll-free at 1-800-523-8173. The phone number
will be operational this evening until 9:00 p.m., Central Standard Time (CST);
on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m.,
Central Daylight Time (CDT); on Monday from 8 a.m. to 8 p.m., CDT; and
thereafter from 9:00 a.m. to 5:00 p.m., CDT.
Beginning Monday,
depositors of New City Bank with more than $250,000 at the bank may visit the
FDIC's Web page "Is My Account Fully Insured?" at
http://www2.fdic.gov/dip/Index.asp to determine their insurance coverage.
As of December 31,
2011, New City Bank had $71.2 million in total assets and $72.4 million in
total deposits. The amount of uninsured deposits will be determined once the
FDIC obtains additional information from those customers.
The FDIC as
receiver will retain all the assets from New City Bank for later disposition.
Loan customers should continue to make their payments as usual.
The FDIC estimates
that the cost to the Deposit Insurance Fund (DIF) will be $17.4 million. New
City Bank is the thirteenth FDIC-insured institution to fail in the nation this
year, and the second in Illinois. The last FDIC-insured institution closed in
the state was Charter National Bank and Trust, Hoffman Estates, on February 10,
2012.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
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Period Length |
12 Months |
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UpdateType/Date |
Updated Normal |
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Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
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Interest & Fees on Loans |
102.0 |
|
Interest Income, Bank |
102.0 |
|
Interest on Deposit |
50.5 |
|
Total Interest Expense |
50.5 |
|
Net Interest Income |
51.5 |
|
|
|
|
Loan Loss Provision |
7.8 |
|
Net Interest Income after Loan Loss Provision |
43.7 |
|
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|
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Commissions & Fees from Securities
Activities |
47.9 |
|
Other Revenue |
6.4 |
|
Non-Interest Income, Bank |
54.3 |
|
Labor & Related Expenses |
-24.0 |
|
Depreciation Expense |
-5.1 |
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Other Expense |
-25.4 |
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Non-Interest Expense, Bank |
-54.4 |
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Income Before Tax |
43.5 |
|
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Total Income Tax |
16.7 |
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Income After Tax |
26.9 |
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Minority Interest |
0.0 |
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Net Income Before Extraord Items |
26.9 |
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Net Income |
26.9 |
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Income Available to Common Excl Extraord Items |
26.9 |
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Income Available to Common Incl Extraord Items |
26.9 |
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Basic/Primary Weighted Average Shares |
38.9 |
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Basic EPS Excl Extraord Items |
0.69 |
|
Basic/Primary EPS Incl Extraord Items |
0.69 |
|
Diluted Net Income |
26.9 |
|
Diluted Weighted Average Shares |
38.9 |
|
Diluted EPS Excl Extraord Items |
0.69 |
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Diluted EPS Incl Extraord Items |
0.69 |
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Dividends per Share - Common Stock Primary Issue |
0.00 |
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Gross Dividends - Common Stock |
0.0 |
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Depreciation, Supplemental |
5.1 |
|
Normalized Income Before Tax |
43.5 |
|
|
|
|
Inc Tax Ex Impact of Sp Items |
16.7 |
|
Normalized Income After Tax |
26.9 |
|
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|
|
Normalized Inc. Avail to Com. |
26.9 |
|
|
|
|
Basic Normalized EPS |
0.69 |
|
Diluted Normalized EPS |
0.69 |
|
Bank Total Revenue |
105.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate |
70.475 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash & Due from Banks |
125.1 |
|
Other Short Term Investments |
51.1 |
|
Securities Held |
127.4 |
|
Total Investment Securities |
127.4 |
|
Other Earning Assets, Total |
178.4 |
|
Net Loans |
796.2 |
|
Property/Plant/Equipment - Net |
45.8 |
|
Other Assets |
141.3 |
|
Other Assets, Total |
141.3 |
|
Total Assets |
1,286.8 |
|
|
|
|
Accounts Payable |
9.3 |
|
Non-Interest Bearing Deposits |
210.2 |
|
Interest Bearing Deposits |
728.8 |
|
Total Deposits |
939.1 |
|
Long Term Debt |
39.8 |
|
Total Long Term Debt |
39.8 |
|
Total Debt |
39.8 |
|
|
|
|
Minority Interest |
0.0 |
|
Other Liabilities |
134.8 |
|
Other Liabilities, Total |
134.8 |
|
Total Liabilities |
1,123.0 |
|
|
|
|
Common Stock |
55.2 |
|
Common Stock |
55.2 |
|
Additional Paid-In Capital |
27.3 |
|
Retained Earnings (Accumulated Deficit) |
81.3 |
|
Total Equity |
163.7 |
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,286.8 |
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
48.6 |
|
Total Common Shares Outstanding |
48.6 |
|
Total Risk-Weighted Capital |
15.8 |
|
Tier 1 Capital % |
8.34% |
|
Total Capital % |
11.15% |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash Receipts |
12.9 |
|
Cash Payments |
-23.6 |
|
Cash Taxes Paid |
-9.0 |
|
Cash Interest Paid |
-48.4 |
|
Other Assets |
-2.2 |
|
Other Liabilities |
81.7 |
|
Other Operating Cash Flow |
119.9 |
|
Loans, Gains/Losses |
-245.1 |
|
Changes in Working Capital |
-45.7 |
|
Cash from Operating Activities |
-113.8 |
|
|
|
|
Purchase of Fixed Assets |
-9.6 |
|
Capital Expenditures |
-9.6 |
|
Purchase of Investments |
-19.8 |
|
Other Investing Cash Flow Items, Total |
-19.8 |
|
Cash from Investing Activities |
-29.5 |
|
|
|
|
Sale/Issuance of
Common |
55.3 |
|
Common Stock, Net |
55.3 |
|
Issuance (Retirement) of Stock, Net |
55.3 |
|
Cash from Financing Activities |
55.3 |
|
|
|
|
Foreign Exchange Effects |
4.2 |
|
Net Change in Cash |
-83.7 |
|
|
|
|
Net Cash - Beginning Balance |
327.8 |
|
Net Cash - Ending Balance |
244.1 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Interest income |
102.0 |
|
Total Revenue |
102.0 |
|
|
|
|
Interest/profit paid on deposits |
50.5 |
|
Provision for loans & advances |
7.8 |
|
Total Operating Expense |
58.3 |
|
|
|
|
Investment income |
30.7 |
|
Commissions, exchange and borrowings |
17.1 |
|
Other operating income |
6.4 |
|
Salaries & allowance |
-23.7 |
|
Rent, Taxes, Insurance, Electricity etc. |
-4.7 |
|
Legal expenses |
-0.2 |
|
Postage, Stamp, Telecommunication, etc |
-0.6 |
|
Stationery, printing, advertisement |
-3.9 |
|
Chief Executive salary & fees |
-0.2 |
|
Directors fees |
0.0 |
|
Auditors fees |
0.0 |
|
Depreciation & repair of banks assets |
-5.1 |
|
Other expenses |
-7.9 |
|
Provision for off balance sheet exposure |
-1.4 |
|
Provision for gratuity |
-2.5 |
|
Provision for diminution in value of inv |
-0.6 |
|
Other provisions |
-3.5 |
|
Total Non-Interest Revenue |
54.3 |
|
|
|
|
Total Non-Interest Expense |
-54.4 |
|
|
|
|
Net Income Before Taxes |
43.5 |
|
|
|
|
Provision for Income Taxes |
16.7 |
|
Net Income After Taxes |
26.9 |
|
|
|
|
Minority Interest |
0.0 |
|
Net Income Before Extra. Items |
26.9 |
|
Net Income |
26.9 |
|
|
|
|
Income Available to Com Excl ExtraOrd |
26.9 |
|
|
|
|
Income Available to Com Incl ExtraOrd |
26.9 |
|
|
|
|
Basic Weighted Average Shares |
38.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.69 |
|
Basic EPS Including ExtraOrdinary Items |
0.69 |
|
Diluted Net Income |
26.9 |
|
Diluted Weighted Average Shares |
38.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.69 |
|
Diluted EPS Including ExtraOrd Items |
0.69 |
|
DPS-Ordinary Share |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
|
Normalized Income Before Taxes |
43.5 |
|
|
|
|
Inc Tax Ex Impact of Sp Items |
16.7 |
|
Normalized Income After Taxes |
26.9 |
|
|
|
|
Normalized Inc. Avail to Com. |
26.9 |
|
|
|
|
Basic Normalized EPS |
0.69 |
|
Diluted Normalized EPS |
0.69 |
|
Depreciation, Supplemental |
5.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate |
70.475 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash in hand |
21.3 |
|
Cash balance with Bangladesh bank |
66.5 |
|
Balance with other bank in bangladesh |
34.1 |
|
Balance with other banks outside banglad |
3.1 |
|
Money at call & short notice |
1.4 |
|
Investment government |
127.4 |
|
Investment other |
49.7 |
|
Loans & advances/ investment |
796.2 |
|
Bills purchased & discounted |
62.9 |
|
Fixed assets including premises & furnit |
45.8 |
|
Other assets |
78.4 |
|
Total Assets |
1,286.8 |
|
|
|
|
Current deposits and other accounts |
210.2 |
|
Bills payable |
9.3 |
|
Savings bank deposits |
213.5 |
|
Fixed deposits |
515.3 |
|
Other liabilities |
134.8 |
|
Borrowings from other banks, financial i |
39.8 |
|
Total Long Term Debt |
39.8 |
|
|
|
|
Minority Interest |
0.0 |
|
Total Liabilities |
1,123.0 |
|
|
|
|
Paid up capital |
55.2 |
|
Statutory reserves |
28.1 |
|
Share premium |
27.3 |
|
Other reserves |
32.5 |
|
Surplus in profit & loss account/retaine |
20.7 |
|
Total Equity |
163.7 |
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,286.8 |
|
|
|
|
S/O-Ordinary Share |
48.6 |
|
Total Common Shares Outstanding |
48.6 |
|
Tier 1 Capital % |
8.34% |
|
Total Capital % |
11.15% |
|
Total Risk-Weighted Capital |
15,757.2 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi Chowdhury
& Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash Receipts |
12.9 |
|
Cash Payments |
-23.6 |
|
Interest receipts in cash |
100.6 |
|
Interest payments |
-48.4 |
|
Dividend receipts |
1.4 |
|
Recoveries of loans previously written o |
0.3 |
|
Income taxes paid |
-9.0 |
|
Receipts from other operating activities |
35.8 |
|
Payments for other operating activities |
-18.1 |
|
Loans and advances to customers |
-245.1 |
|
Other assets |
-2.2 |
|
Deposits from other banks / borrowings |
3.5 |
|
Deposits from customers |
86.6 |
|
Other liabilities |
-8.4 |
|
Cash from Operating Activities |
-113.8 |
|
|
|
|
Payments for purchases of securities |
-19.8 |
|
Capital Expenditure |
-9.6 |
|
Cash from Investing Activities |
-29.5 |
|
|
|
|
Receipts from issue of ordinary shares |
55.3 |
|
Cash from Financing Activities |
55.3 |
|
|
|
|
Foreign Exchange Effects |
4.2 |
|
Net Change in Cash |
-83.7 |
|
|
|
|
Net Cash - Beginning Balance |
327.8 |
|
Net Cash - Ending Balance |
244.1 |
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)
|
|
|||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||
Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate (Period
Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Interest & Fees on Loans |
102.0 |
|
Interest Income, Bank |
102.0 |
|
Interest on Deposit |
50.5 |
|
Total Interest Expense |
50.5 |
|
Net Interest Income |
51.5 |
|
|
|
|
Loan Loss Provision |
7.8 |
|
Net Interest Income after Loan Loss Provision |
43.7 |
|
|
|
|
Commissions & Fees from Securities
Activities |
47.9 |
|
Other Revenue |
6.4 |
|
Non-Interest Income, Bank |
54.3 |
|
Labor & Related Expenses |
-24.0 |
|
Depreciation Expense |
-5.1 |
|
Other Expense |
-25.4 |
|
Non-Interest Expense, Bank |
-54.4 |
|
Income Before Tax |
43.5 |
|
|
|
|
Total Income Tax |
16.7 |
|
Income After Tax |
26.9 |
|
|
|
|
Minority Interest |
0.0 |
|
Net Income Before Extraord Items |
26.9 |
|
Net Income |
26.9 |
|
|
|
|
Income Available to Common Excl Extraord Items |
26.9 |
|
|
|
|
Income Available to Common Incl Extraord Items |
26.9 |
|
|
|
|
Basic/Primary Weighted Average Shares |
38.9 |
|
Basic EPS Excl Extraord Items |
0.69 |
|
Basic/Primary EPS Incl Extraord Items |
0.69 |
|
Diluted Net Income |
26.9 |
|
Diluted Weighted Average Shares |
38.9 |
|
Diluted EPS Excl Extraord Items |
0.69 |
|
Diluted EPS Incl Extraord Items |
0.69 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
|
Depreciation, Supplemental |
5.1 |
|
Normalized Income Before Tax |
43.5 |
|
|
|
|
Inc Tax Ex Impact of Sp Items |
16.7 |
|
Normalized Income After Tax |
26.9 |
|
|
|
|
Normalized Inc. Avail to Com. |
26.9 |
|
|
|
|
Basic Normalized EPS |
0.69 |
|
Diluted Normalized EPS |
0.69 |
|
Bank Total Revenue |
105.8 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate |
70.475 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash & Due from Banks |
125.1 |
|
Other Short Term Investments |
51.1 |
|
Securities Held |
127.4 |
|
Total Investment Securities |
127.4 |
|
Other Earning Assets, Total |
178.4 |
|
Net Loans |
796.2 |
|
Property/Plant/Equipment - Net |
45.8 |
|
Other Assets |
141.3 |
|
Other Assets, Total |
141.3 |
|
Total Assets |
1,286.8 |
|
|
|
|
Accounts Payable |
9.3 |
|
Non-Interest Bearing Deposits |
210.2 |
|
Interest Bearing Deposits |
728.8 |
|
Total Deposits |
939.1 |
|
Long Term Debt |
39.8 |
|
Total Long Term Debt |
39.8 |
|
Total Debt |
39.8 |
|
|
|
|
Minority Interest |
0.0 |
|
Other Liabilities |
134.8 |
|
Other Liabilities, Total |
134.8 |
|
Total Liabilities |
1,123.0 |
|
|
|
|
Common Stock |
55.2 |
|
Common Stock |
55.2 |
|
Additional Paid-In Capital |
27.3 |
|
Retained Earnings (Accumulated Deficit) |
81.3 |
|
Total Equity |
163.7 |
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,286.8 |
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
48.6 |
|
Total Common Shares Outstanding |
48.6 |
|
Total Risk-Weighted Capital |
15.8 |
|
Tier 1 Capital % |
8.34% |
|
Total Capital % |
11.15% |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash Receipts |
12.9 |
|
Cash Payments |
-23.6 |
|
Cash Taxes Paid |
-9.0 |
|
Cash Interest Paid |
-48.4 |
|
Other Assets |
-2.2 |
|
Other Liabilities |
81.7 |
|
Other Operating Cash Flow |
119.9 |
|
Loans, Gains/Losses |
-245.1 |
|
Changes in Working Capital |
-45.7 |
|
Cash from Operating Activities |
-113.8 |
|
|
|
|
Purchase of Fixed Assets |
-9.6 |
|
Capital Expenditures |
-9.6 |
|
Purchase of Investments |
-19.8 |
|
Other Investing Cash Flow Items, Total |
-19.8 |
|
Cash from Investing Activities |
-29.5 |
|
|
|
|
Sale/Issuance of
Common |
55.3 |
|
Common Stock, Net |
55.3 |
|
Issuance (Retirement) of Stock, Net |
55.3 |
|
Cash from Financing Activities |
55.3 |
|
|
|
|
Foreign Exchange Effects |
4.2 |
|
Net Change in Cash |
-83.7 |
|
|
|
|
Net Cash - Beginning Balance |
327.8 |
|
Net Cash - Ending Balance |
244.1 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Interest income |
102.0 |
|
Total Revenue |
102.0 |
|
|
|
|
Interest/profit paid on deposits |
50.5 |
|
Provision for loans & advances |
7.8 |
|
Total Operating Expense |
58.3 |
|
|
|
|
Investment income |
30.7 |
|
Commissions, exchange and borrowings |
17.1 |
|
Other operating income |
6.4 |
|
Salaries & allowance |
-23.7 |
|
Rent, Taxes, Insurance, Electricity etc. |
-4.7 |
|
Legal expenses |
-0.2 |
|
Postage, Stamp, Telecommunication, etc |
-0.6 |
|
Stationery, printing, advertisement |
-3.9 |
|
Chief Executive salary & fees |
-0.2 |
|
Directors fees |
0.0 |
|
Auditors fees |
0.0 |
|
Depreciation & repair of banks assets |
-5.1 |
|
Other expenses |
-7.9 |
|
Provision for off balance sheet exposure |
-1.4 |
|
Provision for gratuity |
-2.5 |
|
Provision for diminution in value of inv |
-0.6 |
|
Other provisions |
-3.5 |
|
Total Non-Interest Revenue |
54.3 |
|
|
|
|
Total Non-Interest Expense |
-54.4 |
|
|
|
|
Net Income Before Taxes |
43.5 |
|
|
|
|
Provision for Income Taxes |
16.7 |
|
Net Income After Taxes |
26.9 |
|
|
|
|
Minority Interest |
0.0 |
|
Net Income Before Extra. Items |
26.9 |
|
Net Income |
26.9 |
|
|
|
|
Income Available to Com Excl ExtraOrd |
26.9 |
|
|
|
|
Income Available to Com Incl ExtraOrd |
26.9 |
|
|
|
|
Basic Weighted Average Shares |
38.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.69 |
|
Basic EPS Including ExtraOrdinary Items |
0.69 |
|
Diluted Net Income |
26.9 |
|
Diluted Weighted Average Shares |
38.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.69 |
|
Diluted EPS Including ExtraOrd Items |
0.69 |
|
DPS-Ordinary Share |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
|
Normalized Income Before Taxes |
43.5 |
|
|
|
|
Inc Tax Ex Impact of Sp Items |
16.7 |
|
Normalized Income After Taxes |
26.9 |
|
|
|
|
Normalized Inc. Avail to Com. |
26.9 |
|
|
|
|
Basic Normalized EPS |
0.69 |
|
Diluted Normalized EPS |
0.69 |
|
Depreciation, Supplemental |
5.1 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate |
70.475 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash in hand |
21.3 |
|
Cash balance with Bangladesh bank |
66.5 |
|
Balance with other bank in bangladesh |
34.1 |
|
Balance with other banks outside banglad |
3.1 |
|
Money at call & short notice |
1.4 |
|
Investment government |
127.4 |
|
Investment other |
49.7 |
|
Loans & advances/ investment |
796.2 |
|
Bills purchased & discounted |
62.9 |
|
Fixed assets including premises & furnit |
45.8 |
|
Other assets |
78.4 |
|
Total Assets |
1,286.8 |
|
|
|
|
Current deposits and other accounts |
210.2 |
|
Bills payable |
9.3 |
|
Savings bank deposits |
213.5 |
|
Fixed deposits |
515.3 |
|
Other liabilities |
134.8 |
|
Borrowings from other banks, financial i |
39.8 |
|
Total Long Term Debt |
39.8 |
|
|
|
|
Minority Interest |
0.0 |
|
Total Liabilities |
1,123.0 |
|
|
|
|
Paid up capital |
55.2 |
|
Statutory reserves |
28.1 |
|
Share premium |
27.3 |
|
Other reserves |
32.5 |
|
Surplus in profit & loss account/retaine |
20.7 |
|
Total Equity |
163.7 |
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,286.8 |
|
|
|
|
S/O-Ordinary Share |
48.6 |
|
Total Common Shares Outstanding |
48.6 |
|
Tier 1 Capital % |
8.34% |
|
Total Capital % |
11.15% |
|
Total Risk-Weighted Capital |
15,757.2 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
|
Period Length |
12 Months |
|
UpdateType/Date |
Updated Normal |
|
Filed Currency |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified with
Explanation |
|
|
|
|
Cash Receipts |
12.9 |
|
Cash Payments |
-23.6 |
|
Interest receipts in cash |
100.6 |
|
Interest payments |
-48.4 |
|
Dividend receipts |
1.4 |
|
Recoveries of loans previously written o |
0.3 |
|
Income taxes paid |
-9.0 |
|
Receipts from other operating activities |
35.8 |
|
Payments for other operating activities |
-18.1 |
|
Loans and advances to customers |
-245.1 |
|
Other assets |
-2.2 |
|
Deposits from other banks / borrowings |
3.5 |
|
Deposits from customers |
86.6 |
|
Other liabilities |
-8.4 |
|
Cash from Operating Activities |
-113.8 |
|
|
|
|
Payments for purchases of securities |
-19.8 |
|
Capital Expenditure |
-9.6 |
|
Cash from Investing Activities |
-29.5 |
|
|
|
|
Receipts from issue of ordinary shares |
55.3 |
|
Cash from Financing Activities |
55.3 |
|
|
|
|
Foreign Exchange Effects |
4.2 |
|
Net Change in Cash |
-83.7 |
|
|
|
|
Net Cash - Beginning Balance |
327.8 |
|
Net Cash - Ending Balance |
244.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.47 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.