MIRA INFORM REPORT

 

 

Report Date :

09.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BARCLAYS BANK PLC - PAKISTAN BRANCHES

 

 

Registered Office :

Ground Floor, Dawood Center, M.T. Khan Road, Karachi

 

 

Country :

Pakistan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.07.2008

 

 

Com. Reg. No.:

0064060

 

 

Legal Form :

Foreign Banking Company

 

 

Line of Business :

Engaged in retail banking, corporate banking and treasury related activities

 

 

No. of Employees :

500

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

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 :

USD 3,700

Status :

Good

Payment Behaviour :

Regular

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Business Name

 

BARCLAYS BANK PLC - PAKISTAN BRANCHES

 

 

Full Address

 

Registered Address

Ground Floor, Dawood Center, M.T. Khan Road, Karachi, Pakistan 

 

Branch

112 Rafi Mansion Sharah E Quaid Azam Mall Rd., Lahore, Pakistan

Tel #

92 (21) 111-105-555, 35272931, 35272909

Fax #

92 (21) 35634213

 

 

Short Description Of Business

 

a.

Nature of Business

Principally engaged in retail banking, corporate

banking and treasury related activities

b.

Year Established

July 23, 2008

c.

Registration #

0064060

 

 

Branches

 

The bank currently operates a network of 15 branches in Pakistan

 

 

Auditors

 

A.F. Ferguson & Co.

(Chartered Accountants)

 

 

Legal Status

 

Barclays Bank PLC, Pakistan Branches operates as a branch of Barclays Bank PLC which is a foreign banking company incorporated and domiciled in England and Wales with limited liability (rated “A+”, long term and “A-1”, short term by standard & poor’s) which is the ultimate holding company. The bank is engaged in banking services as described in the banking companies ordinance, 1962.

 

 

Details of Management

 

Names

Designation

Mr. Shazad G. Dada

 

Mr. Arsalan Nayeem

 

Mr. Ali Shah

 

Mr. Aamir Jahangir

Chief Executive Officer

 

Corporate Banking Director

 

Chief Operating Officer

 

Chief Financial Officer

 

 

Shareholders

 

Barclays Bank PLC, England is the major shareholder of Barclays Bank operating in Pakistan

 

 

Business Activities

 

Principally engaged in retail banking, corporate banking and treasury related activities.

 

 

Number of Employees

 

500

 

 

Future Outlook

 

The commitment towards the customers of the Bank remains a core component of franchise value. Future opportunities for the Bank would arise as the strategic change in ownership and direction crystallizes the potential viewed by interested investors. The developments in the sale process for the bank are envisaged in the near future.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

Rs. 94.50

UK Pound

1

Rs. 146.80

Euro

1

Rs. 116.30

 

Comments

 

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.14

UK Pound

1

Rs.86.00

Euro

1

Rs.68.31

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

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