|
Report Date : |
30.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL FINANCE INVESTMENT AND COMMERCE
BANK LIMITED |
|
|
|
|
Registered Office : |
BDBL Building (8th - 10th & 16th – 19th Floor), 8, Rajuk Avenue
G.P.O. Box – 2229, Dhaka-1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
25.02.1983 |
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|
|
|
Com. Reg. No.: |
C-4967 |
|
|
|
|
Legal Form : |
Public Limited
Company |
|
|
|
|
Line of Business : |
General Banking |
|
|
|
|
No. of Employees : |
14,000 employees |
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 |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Name |
International Finance Investment and Commerce
Bank Limited Note: The subject registered by this name. |
|
Address |
BDBL Building
(8th - 10th & 16th – 19th Floor), 8, Rajuk Avenue G.P.O. Box – 2229, Dhaka-1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9563020,
9562060, 9562062, 9562068 |
|
Fax No |
880-2-9562015, 7161644 |
|
E-Mail |
|
|
Website |
|
|
Established |
1983 |
|
Company Registration No |
C-4967 |
|
Registration date |
25th
February 1983 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Dhaka |
|
Stock Code |
IFIC |
|
Business Type |
General
Banking |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
BDBL
Building (8th - 10th & 16th – 19th Floor), 8, Rajuk Avenue G.P.O. Box –
2229, Dhaka-1000 |
|
Telephone No |
880-2-9563020,
9562060, 9562062, 9562068 |
|
Fax No |
880-2-9562015, 7161644 |
|
E-Mail |
|
|
Website |
www.ificbank.com.bd |
|
Branch |
82
|
|
Factory |
N/A |
|
S.W.I.F.T.: |
IFIC BD DH |
|
Name |
Mr. Salman F Rahman |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Abdullah |
|
Designation |
Managing
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Lutfar Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Monirul Islam |
|
Designation |
Independent Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Syed Anisul Huq |
|
Designation |
Independent Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammed Nayem Syed |
|
Designation |
Independent Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Syed Monjurul Islam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. A.R.M. Nazmus Sakib |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Arijit Chowdhury |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Line of Business |
General Banking |
|
Range of Services |
CORPORATE BANKING 4 Working Capital Finance 4 Project Finance 4 Term Finance 4 Trade Finance 4 Lease Finance 4 Syndication Finance RETAIL BANKING 4 Deposit Products 4 Loan Products 4 Debit Cards 4 Credit Cards 4 NRB 4 Interest Rates 4 Schedule of Charges 4 SMS Banking 4 Internet Banking 4 Contact Centre 4 ATMs 4 AD Branches 4 Student Pack 4 Shahaj Banking 4 Employee Banking SME BANKING 4 Easy Commercial Loan 4 Retailers Loan 4 Transport Loan 4 Commercial House Building Loan 4 Possession Right Loan 4 Contractor's Loan 4 Bidder's Loan 4 Working Capital Loan 4 Project Loan 4 Letter of Guarantee 4 Letter of Credit 4 Loan against Imported Merchandize (LIM) 4 Loan against Trust Receipt 4 Muldhan 4 Women Enterpreneur's Loan (Protyasha) |
IFIC Bank Limited
Balance Sheet
As At 31 December
2011
|
Assets |
Taka |
|
Cash and Equivalents |
13,671.0 |
|
TOTAL CASH AND
SHORT TERM INVESTMENTS |
13,671.0 |
|
Other
Receivables |
115.4 |
|
TOTAL
RECEIVABLES |
115.4 |
|
Prepaid Expenses |
0.3 |
|
Restricted Cash |
4,151.3 |
|
Other Current Assets |
592.0 |
|
TOTAL CURRENT
ASSETS |
19,180.9 |
|
Gross Property Plant and Equipment |
3,045.0 |
|
Accumulated Depreciation |
-829.9 |
|
NET PROPERTY PLANT
AND EQUIPMENT |
2,215.1 |
|
Other Long-Term Assets |
-161.6 |
|
TOTAL ASSETS |
91,796.8 |
|
LIABILITIES
& EQUITY |
|
|
Accrued Expenses |
156.8 |
|
Short-Term Borrowings |
1,418.8 |
|
Current Income Taxes Payable |
2,273.4 |
|
Other Current Liabilities, Total |
1,322.9 |
|
TOTAL CURRENT
LIABILITIES |
78,460.5 |
|
Deferred Tax Liability Non-Current |
113.3 |
|
Other Non-Current Liabilities |
6,537.8 |
|
TOTAL
LIABILITIES |
85,111.6 |
|
Common Stock |
2,768.4 |
|
Retained Earnings |
3,800.8 |
|
Comprehensive Income and Other |
116.0 |
|
TOTAL COMMON
EQUITY |
6,685.2 |
|
TOTAL EQUITY |
6,685.2 |
|
TOTAL
LIABILITIES AND EQUITY |
91,796.8 |
IFIC Bank Limited
Income Statement
For the Year Ended
31 December 2011
|
|
Taka |
|
TOTAL REVENUES |
4,912.6 |
|
GROSS PROFIT |
4,912.6 |
|
Selling General & Admin Expenses, Total |
2,351.9 |
|
EBT, EXCLUDING
UNUSUAL ITEMS |
1,995.3 |
|
Other Unusual Items, Total |
0.9 |
|
Insurance Settlements |
0.9 |
|
EBT, INCLUDING
UNUSUAL ITEMS |
1,996.3 |
|
Income Tax Expense |
1,164.5 |
|
Earnings from Continuing Operations |
831.8 |
|
NET INCOME |
831.8 |
|
NET INCOME TO
COMMON INCLUDING EXTRA ITEMS |
831.8 |
|
NET INCOME TO
COMMON EXCLUDING EXTRA ITEMS |
831.8 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
128.9851 |
|
U.S Dollar |
1 |
81.6000 |
|
European Euro |
1 |
102.0898 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Records Found |
|
Performance Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
14,000 (apx) |
|
Office Area (Sq.
Ft) |
3,100 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
N/A |
|
Certifications |
N/A |
|
Group Name |
N/A |
|
Subsidiaries /
Affiliates |
4 IFIC
Money Transfer (UK) Limited |
|
Enlisted With |
4 Dhaka
Stock Exchange Limited, Dhaka 4 Chittagong
Stock Exchange Limited, Chittagong |
|
Member |
4 Dhaka
Chamber of Commerce & Industries, Dhaka 4 Bangladesh Association of Bankers, Dhaka |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.67 |
|
UK Pound |
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.69.96 |
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.