MIRA
INFORM REPORT
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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
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Name : |
STANDARD BANK LTD |
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Registered Office : |
Metropolitan Chamber
Building (3rd Floor) 122-124 Motijheel C/A, 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 : |
11.05.1999 |
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Legal Form : |
Public Independent |
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Line of Business : |
Foreign Government Representation |
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No. of Employees : |
Not Available |
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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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 – September 30, 2011
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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 |
Company name and address
Standard Bank Ltd
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Business
Description
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For the fiscal year ended 31 December 2010, Standard Bank LTD's interest
income increased 32% to BDT5.85B. Net interest income after loan loss
provision increased 65% to BDT1.41B. Net income increased 79% to BDT1.37B.
Interest income reflects an increase income from investment. Net income also
reflects by higher income from investment, rise in commission exchange &
brokerage charges and an increase in other operating income. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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US SIC 1987: |
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News
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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
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Annual Income Statement
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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|
|
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|
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|
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
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|
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|
Interest & Dividends on Investment
Securities |
84.0 |
64.2 |
|
Interest Income, Bank |
84.0 |
64.2 |
|
Interest on Deposit |
59.3 |
48.5 |
|
Total Interest Expense |
59.3 |
48.5 |
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Net Interest Income |
24.8 |
15.7 |
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|
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Loan Loss Provision |
4.5 |
3.3 |
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Net Interest Income after Loan Loss Provision |
20.3 |
12.3 |
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|
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Commissions & Fees from Securities
Activities |
25.3 |
13.9 |
|
Other Revenue |
2.6 |
2.2 |
|
Non-Interest Income, Bank |
27.9 |
16.1 |
|
Labor & Related Expenses |
-7.4 |
-4.8 |
|
Depreciation Expense |
-0.9 |
-0.6 |
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Other Expense |
-5.8 |
-4.5 |
|
Non-Interest Expense, Bank |
-14.1 |
-9.8 |
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Income Before Tax |
34.1 |
18.6 |
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|
|
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Total Income Tax |
14.5 |
7.5 |
|
Income After Tax |
19.7 |
11.1 |
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|
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Net Income Before Extraord Items |
19.7 |
11.1 |
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Net Income |
19.7 |
11.1 |
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Income Available to Common Excl Extraord Items |
19.7 |
11.1 |
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Income Available to Common Incl Extraord Items |
19.7 |
11.1 |
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Basic/Primary Weighted Average Shares |
31.7 |
31.7 |
|
Basic EPS Excl Extraord Items |
0.62 |
0.35 |
|
Basic/Primary EPS Incl Extraord Items |
0.62 |
0.35 |
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Diluted Net Income |
19.7 |
11.1 |
|
Diluted Weighted Average Shares |
31.7 |
31.7 |
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Diluted EPS Excl Extraord Items |
0.62 |
0.35 |
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Diluted EPS Incl Extraord Items |
0.62 |
0.35 |
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Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
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Gross Dividends - Common Stock |
0.0 |
0.0 |
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Depreciation, Supplemental |
0.9 |
0.6 |
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Normalized Income Before Tax |
34.1 |
18.6 |
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Inc Tax Ex Impact of Sp Items |
14.5 |
7.5 |
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Normalized Income After Tax |
19.7 |
11.1 |
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Normalized Inc. Avail to Com. |
19.7 |
11.1 |
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Basic Normalized EPS |
0.62 |
0.35 |
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Diluted Normalized EPS |
0.62 |
0.35 |
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Bank Total Revenue |
112.0 |
80.3 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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|
31-Dec-2010 |
31-Dec-2009 |
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UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
70.475 |
69.26 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
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Auditor Opinion |
Unqualified |
Unqualified |
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Cash & Due from Banks |
81.3 |
53.6 |
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Other Short Term Investments |
19.6 |
18.1 |
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Securities Held |
92.6 |
68.1 |
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Total Investment Securities |
92.6 |
68.1 |
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Other Earning Assets, Total |
112.2 |
86.2 |
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Net Loans |
703.4 |
530.2 |
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Property/Plant/Equipment - Net |
5.4 |
2.6 |
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Other Assets |
42.7 |
34.8 |
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Other Assets, Total |
42.7 |
34.8 |
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Total Assets |
945.0 |
707.5 |
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Non-Interest Bearing Deposits |
102.4 |
71.4 |
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Interest Bearing Deposits |
716.3 |
536.5 |
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Total Deposits |
818.7 |
607.9 |
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Total Long Term Debt |
0.0 |
0.0 |
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Total Debt |
0.0 |
0.0 |
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Other Liabilities |
46.4 |
38.7 |
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Other Liabilities, Total |
46.4 |
38.7 |
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Total Liabilities |
865.1 |
646.5 |
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Common Stock |
45.0 |
38.2 |
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Common Stock |
45.0 |
38.2 |
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Retained Earnings (Accumulated Deficit) |
34.8 |
22.8 |
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Total Equity |
79.8 |
61.0 |
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Total Liabilities & Shareholders’ Equity |
945.0 |
707.5 |
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Shares Outstanding - Common Stock Primary
Issue |
31.7 |
26.4 |
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Total Common Shares Outstanding |
31.7 |
26.4 |
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Total Risk-Weighted Capital |
0.9 |
0.5 |
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Tier 1 Capital % |
9.03% |
12.04% |
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Total Capital % |
10.31% |
13.56% |
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Annual Cash
Flows |
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Financials in:
USD (mil) |
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|
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
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|
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Cash Receipts |
5.8 |
4.2 |
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Cash Payments |
-7.8 |
-5.3 |
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Cash Taxes Paid |
-8.3 |
-6.5 |
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Cash Interest Paid |
-55.9 |
-44.0 |
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Other Assets |
-205.5 |
-162.3 |
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Other Liabilities |
225.8 |
187.3 |
|
Other Operating Cash Flow |
94.2 |
69.1 |
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Changes in Working Capital |
114.5 |
94.2 |
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Cash from Operating Activities |
48.2 |
42.6 |
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Purchase of Fixed Assets |
-3.5 |
-1.3 |
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Capital Expenditures |
-3.5 |
-1.3 |
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Cash from Investing Activities |
-3.5 |
-1.3 |
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Foreign Exchange Effects |
5.0 |
4.1 |
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Net Change in Cash |
49.8 |
45.4 |
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Net Cash - Beginning Balance |
130.0 |
85.7 |
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Net Cash - Ending Balance |
179.7 |
131.0 |
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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|
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|
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Interest income/Profit on Investment |
84.0 |
64.2 |
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Total Revenue |
84.0 |
64.2 |
|
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|
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Interest paid on deposits and borrowings |
59.3 |
48.5 |
|
Provision for loans & advances-specific |
2.1 |
1.7 |
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Provision for loans & advances-general |
2.4 |
1.6 |
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Total Operating Expense |
63.8 |
51.9 |
|
|
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Income from investments |
14.5 |
5.6 |
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Commision exchange and brokerage |
10.8 |
8.3 |
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Other operating income |
2.6 |
2.2 |
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Salary and allowances |
-7.2 |
-4.7 |
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Rents, taxes, insurance, electricity etc |
-1.4 |
-1.0 |
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Legal expenses |
0.0 |
0.0 |
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Postage, stamp, telecommunication etc |
-0.3 |
-0.3 |
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Stationary, printing, advertisement etc |
-0.6 |
-0.5 |
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Managing directors salary and allowances |
-0.1 |
-0.1 |
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Directors fee & other benefits |
-0.1 |
-0.1 |
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Audit fees |
0.0 |
0.0 |
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Charges on loan losses |
0.0 |
-0.9 |
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Depreciation and repair of bank assets |
-0.9 |
-0.6 |
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Other expenses |
-2.4 |
-1.5 |
|
Provision for off balance sheet items |
-1.2 |
-0.2 |
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Total Non-Interest Revenue |
27.9 |
16.1 |
|
|
|
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Total Non-Interest Expense |
-14.1 |
-9.8 |
|
|
|
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Net Income Before Taxes |
34.1 |
18.6 |
|
|
|
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Provision for Income Taxes |
14.5 |
7.5 |
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Net Income After Taxes |
19.7 |
11.1 |
|
|
|
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Net Income Before Extra. Items |
19.7 |
11.1 |
|
Net Income |
19.7 |
11.1 |
|
|
|
|
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Income Available to Com Excl ExtraOrd |
19.7 |
11.1 |
|
|
|
|
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Income Available to Com Incl ExtraOrd |
19.7 |
11.1 |
|
|
|
|
|
Basic Weighted Average Shares |
31.7 |
31.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.62 |
0.35 |
|
Basic EPS Including ExtraOrdinary Items |
0.62 |
0.35 |
|
Diluted Net Income |
19.7 |
11.1 |
|
Diluted Weighted Average Shares |
31.7 |
31.7 |
|
Diluted EPS Excluding ExtraOrd Items |
0.62 |
0.35 |
|
Diluted EPS Including ExtraOrd Items |
0.62 |
0.35 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
34.1 |
18.6 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.5 |
7.5 |
|
Normalized Income After Taxes |
19.7 |
11.1 |
|
|
|
|
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Normalized Inc. Avail to Com. |
19.7 |
11.1 |
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.35 |
|
Diluted Normalized EPS |
0.62 |
0.35 |
|
Depreciation, Supplemental |
0.9 |
0.6 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
70.475 |
69.26 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
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Cash in hand |
5.0 |
4.2 |
|
Balances with Bangladesh bank and its ag |
62.5 |
40.2 |
|
Balances with other banks and financial |
3.0 |
0.6 |
|
Balances with other banks and financial |
10.8 |
8.6 |
|
Money at call and on short notice |
4.3 |
9.1 |
|
Investment-Government |
92.6 |
68.1 |
|
Investment-Others |
15.3 |
9.0 |
|
Loans, cash credits, overdrafts etc |
703.4 |
530.2 |
|
Bills purchased and discounted |
31.0 |
19.2 |
|
Fixed assets including premises, furnitu |
5.4 |
2.6 |
|
Other assets |
11.7 |
15.6 |
|
Total Assets |
945.0 |
707.5 |
|
|
|
|
|
Current Al-wadeeah deposit other & depo |
102.4 |
71.4 |
|
Bills payable |
9.2 |
6.6 |
|
Savings banks/Mudaraba savings deposits |
34.9 |
25.6 |
|
Short-term deposit/Mudaraba term deposit |
25.6 |
24.9 |
|
Fixed deposits/Mudaraba term deposits |
624.2 |
457.9 |
|
Deposits under schemes/Mudaraba deposit |
31.7 |
28.1 |
|
Other liabilities |
37.3 |
32.1 |
|
Total Liabilities |
865.1 |
646.5 |
|
|
|
|
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Paid up capital |
45.0 |
38.2 |
|
Statutory reserve |
21.5 |
14.9 |
|
General reserve |
0.0 |
0.3 |
|
Revaluation reserve on investment |
0.7 |
0.2 |
|
Profit and loss account retained earning |
12.6 |
7.4 |
|
Total Equity |
79.8 |
61.0 |
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
945.0 |
707.5 |
|
|
|
|
|
S/O-Ordinary Shares |
31.7 |
26.4 |
|
Total Common Shares Outstanding |
31.7 |
26.4 |
|
Tier 1 Capital % |
9.03% |
12.04% |
|
Total Capital % |
10.31% |
13.56% |
|
Total Risk-Weighted Capital |
876.4 |
504.5 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Cash Receipts |
5.8 |
4.2 |
|
Cash Payments |
-7.8 |
-5.3 |
|
Cash Interest Paid |
-55.9 |
-44.0 |
|
Cash Taxes Paid |
-8.3 |
-6.5 |
|
Interest receipts in cash |
81.4 |
64.3 |
|
Dividend receipts |
0.1 |
0.1 |
|
Income from investment |
14.4 |
5.5 |
|
Receipts from other operating activiti |
2.6 |
2.2 |
|
Payments for other operating activities |
-4.4 |
-3.0 |
|
Purchase of trading securities |
-6.5 |
-3.6 |
|
Loans and advances to customers |
-196.9 |
-158.4 |
|
Other assets |
-2.1 |
-0.3 |
|
Deposits from customers |
223.6 |
187.4 |
|
Other liabilities |
2.3 |
-0.1 |
|
Cash from Operating Activities |
48.2 |
42.6 |
|
|
|
|
|
Purchase of property, plant and equipmen |
-3.5 |
-1.3 |
|
Cash from Investing Activities |
-3.5 |
-1.3 |
|
|
|
|
|
Foreign Exchange Effects |
5.0 |
4.1 |
|
Net Change in Cash |
49.8 |
45.4 |
|
|
|
|
|
Net Cash - Beginning Balance |
130.0 |
85.7 |
|
Net Cash - Ending Balance |
179.7 |
131.0 |
Financial Health
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
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Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
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Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Interest & Dividends on Investment
Securities |
84.0 |
64.2 |
|
Interest Income, Bank |
84.0 |
64.2 |
|
Interest on Deposit |
59.3 |
48.5 |
|
Total Interest Expense |
59.3 |
48.5 |
|
Net Interest Income |
24.8 |
15.7 |
|
|
|
|
|
Loan Loss Provision |
4.5 |
3.3 |
|
Net Interest Income after Loan Loss Provision |
20.3 |
12.3 |
|
|
|
|
|
Commissions & Fees from Securities
Activities |
25.3 |
13.9 |
|
Other Revenue |
2.6 |
2.2 |
|
Non-Interest Income, Bank |
27.9 |
16.1 |
|
Labor & Related Expenses |
-7.4 |
-4.8 |
|
Depreciation Expense |
-0.9 |
-0.6 |
|
Other Expense |
-5.8 |
-4.5 |
|
Non-Interest Expense, Bank |
-14.1 |
-9.8 |
|
Income Before Tax |
34.1 |
18.6 |
|
|
|
|
|
Total Income Tax |
14.5 |
7.5 |
|
Income After Tax |
19.7 |
11.1 |
|
|
|
|
|
Net Income Before Extraord Items |
19.7 |
11.1 |
|
Net Income |
19.7 |
11.1 |
|
|
|
|
|
Income Available to Common Excl Extraord Items |
19.7 |
11.1 |
|
|
|
|
|
Income Available to Common Incl Extraord Items |
19.7 |
11.1 |
|
|
|
|
|
Basic/Primary Weighted Average Shares |
31.7 |
31.7 |
|
Basic EPS Excl Extraord Items |
0.62 |
0.35 |
|
Basic/Primary EPS Incl Extraord Items |
0.62 |
0.35 |
|
Diluted Net Income |
19.7 |
11.1 |
|
Diluted Weighted Average Shares |
31.7 |
31.7 |
|
Diluted EPS Excl Extraord Items |
0.62 |
0.35 |
|
Diluted EPS Incl Extraord Items |
0.62 |
0.35 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Depreciation, Supplemental |
0.9 |
0.6 |
|
Normalized Income Before Tax |
34.1 |
18.6 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.5 |
7.5 |
|
Normalized Income After Tax |
19.7 |
11.1 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.7 |
11.1 |
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.35 |
|
Diluted Normalized EPS |
0.62 |
0.35 |
|
Bank Total Revenue |
112.0 |
80.3 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
70.475 |
69.26 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Cash & Due from Banks |
81.3 |
53.6 |
|
Other Short Term Investments |
19.6 |
18.1 |
|
Securities Held |
92.6 |
68.1 |
|
Total Investment Securities |
92.6 |
68.1 |
|
Other Earning Assets, Total |
112.2 |
86.2 |
|
Net Loans |
703.4 |
530.2 |
|
Property/Plant/Equipment - Net |
5.4 |
2.6 |
|
Other Assets |
42.7 |
34.8 |
|
Other Assets, Total |
42.7 |
34.8 |
|
Total Assets |
945.0 |
707.5 |
|
|
|
|
|
Non-Interest Bearing Deposits |
102.4 |
71.4 |
|
Interest Bearing Deposits |
716.3 |
536.5 |
|
Total Deposits |
818.7 |
607.9 |
|
Total Long Term Debt |
0.0 |
0.0 |
|
Total Debt |
0.0 |
0.0 |
|
|
|
|
|
Other Liabilities |
46.4 |
38.7 |
|
Other Liabilities, Total |
46.4 |
38.7 |
|
Total Liabilities |
865.1 |
646.5 |
|
|
|
|
|
Common Stock |
45.0 |
38.2 |
|
Common Stock |
45.0 |
38.2 |
|
Retained Earnings (Accumulated Deficit) |
34.8 |
22.8 |
|
Total Equity |
79.8 |
61.0 |
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
945.0 |
707.5 |
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
31.7 |
26.4 |
|
Total Common Shares Outstanding |
31.7 |
26.4 |
|
Total Risk-Weighted Capital |
0.9 |
0.5 |
|
Tier 1 Capital % |
9.03% |
12.04% |
|
Total Capital % |
10.31% |
13.56% |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Cash Receipts |
5.8 |
4.2 |
|
Cash Payments |
-7.8 |
-5.3 |
|
Cash Taxes Paid |
-8.3 |
-6.5 |
|
Cash Interest Paid |
-55.9 |
-44.0 |
|
Other Assets |
-205.5 |
-162.3 |
|
Other Liabilities |
225.8 |
187.3 |
|
Other Operating Cash Flow |
94.2 |
69.1 |
|
Changes in Working Capital |
114.5 |
94.2 |
|
Cash from Operating Activities |
48.2 |
42.6 |
|
|
|
|
|
Purchase of Fixed Assets |
-3.5 |
-1.3 |
|
Capital Expenditures |
-3.5 |
-1.3 |
|
Cash from Investing Activities |
-3.5 |
-1.3 |
|
|
|
|
|
Foreign Exchange Effects |
5.0 |
4.1 |
|
Net Change in Cash |
49.8 |
45.4 |
|
|
|
|
|
Net Cash - Beginning Balance |
130.0 |
85.7 |
|
Net Cash - Ending Balance |
179.7 |
131.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Interest income/Profit on Investment |
84.0 |
64.2 |
|
Total Revenue |
84.0 |
64.2 |
|
|
|
|
|
Interest paid on deposits and borrowings |
59.3 |
48.5 |
|
Provision for loans & advances-specific |
2.1 |
1.7 |
|
Provision for loans & advances-general |
2.4 |
1.6 |
|
Total Operating Expense |
63.8 |
51.9 |
|
|
|
|
|
Income from investments |
14.5 |
5.6 |
|
Commision exchange and brokerage |
10.8 |
8.3 |
|
Other operating income |
2.6 |
2.2 |
|
Salary and allowances |
-7.2 |
-4.7 |
|
Rents, taxes, insurance, electricity etc |
-1.4 |
-1.0 |
|
Legal expenses |
0.0 |
0.0 |
|
Postage, stamp, telecommunication etc |
-0.3 |
-0.3 |
|
Stationary, printing, advertisement etc |
-0.6 |
-0.5 |
|
Managing directors salary and allowances |
-0.1 |
-0.1 |
|
Directors fee & other benefits |
-0.1 |
-0.1 |
|
Audit fees |
0.0 |
0.0 |
|
Charges on loan losses |
0.0 |
-0.9 |
|
Depreciation and repair of bank assets |
-0.9 |
-0.6 |
|
Other expenses |
-2.4 |
-1.5 |
|
Provision for off balance sheet items |
-1.2 |
-0.2 |
|
Total Non-Interest Revenue |
27.9 |
16.1 |
|
|
|
|
|
Total Non-Interest Expense |
-14.1 |
-9.8 |
|
|
|
|
|
Net Income Before Taxes |
34.1 |
18.6 |
|
|
|
|
|
Provision for Income Taxes |
14.5 |
7.5 |
|
Net Income After Taxes |
19.7 |
11.1 |
|
|
|
|
|
Net Income Before Extra. Items |
19.7 |
11.1 |
|
Net Income |
19.7 |
11.1 |
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
19.7 |
11.1 |
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
19.7 |
11.1 |
|
|
|
|
|
Basic Weighted Average Shares |
31.7 |
31.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.62 |
0.35 |
|
Basic EPS Including ExtraOrdinary Items |
0.62 |
0.35 |
|
Diluted Net Income |
19.7 |
11.1 |
|
Diluted Weighted Average Shares |
31.7 |
31.7 |
|
Diluted EPS Excluding ExtraOrd Items |
0.62 |
0.35 |
|
Diluted EPS Including ExtraOrd Items |
0.62 |
0.35 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
34.1 |
18.6 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.5 |
7.5 |
|
Normalized Income After Taxes |
19.7 |
11.1 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.7 |
11.1 |
|
|
|
|
|
Basic Normalized EPS |
0.62 |
0.35 |
|
Diluted Normalized EPS |
0.62 |
0.35 |
|
Depreciation, Supplemental |
0.9 |
0.6 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate |
70.475 |
69.26 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Cash in hand |
5.0 |
4.2 |
|
Balances with Bangladesh bank and its ag |
62.5 |
40.2 |
|
Balances with other banks and financial |
3.0 |
0.6 |
|
Balances with other banks and financial |
10.8 |
8.6 |
|
Money at call and on short notice |
4.3 |
9.1 |
|
Investment-Government |
92.6 |
68.1 |
|
Investment-Others |
15.3 |
9.0 |
|
Loans, cash credits, overdrafts etc |
703.4 |
530.2 |
|
Bills purchased and discounted |
31.0 |
19.2 |
|
Fixed assets including premises, furnitu |
5.4 |
2.6 |
|
Other assets |
11.7 |
15.6 |
|
Total Assets |
945.0 |
707.5 |
|
|
|
|
|
Current Al-wadeeah deposit other & depo |
102.4 |
71.4 |
|
Bills payable |
9.2 |
6.6 |
|
Savings banks/Mudaraba savings deposits |
34.9 |
25.6 |
|
Short-term deposit/Mudaraba term deposit |
25.6 |
24.9 |
|
Fixed deposits/Mudaraba term deposits |
624.2 |
457.9 |
|
Deposits under schemes/Mudaraba deposit |
31.7 |
28.1 |
|
Other liabilities |
37.3 |
32.1 |
|
Total Liabilities |
865.1 |
646.5 |
|
|
|
|
|
Paid up capital |
45.0 |
38.2 |
|
Statutory reserve |
21.5 |
14.9 |
|
General reserve |
0.0 |
0.3 |
|
Revaluation reserve on investment |
0.7 |
0.2 |
|
Profit and loss account retained earning |
12.6 |
7.4 |
|
Total Equity |
79.8 |
61.0 |
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
945.0 |
707.5 |
|
|
|
|
|
S/O-Ordinary Shares |
31.7 |
26.4 |
|
Total Common Shares Outstanding |
31.7 |
26.4 |
|
Tier 1 Capital % |
9.03% |
12.04% |
|
Total Capital % |
10.31% |
13.56% |
|
Total Risk-Weighted Capital |
876.4 |
504.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
69.60265 |
69.026932 |
|
Auditor |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Cash Receipts |
5.8 |
4.2 |
|
Cash Payments |
-7.8 |
-5.3 |
|
Cash Interest Paid |
-55.9 |
-44.0 |
|
Cash Taxes Paid |
-8.3 |
-6.5 |
|
Interest receipts in cash |
81.4 |
64.3 |
|
Dividend receipts |
0.1 |
0.1 |
|
Income from investment |
14.4 |
5.5 |
|
Receipts from other operating activiti |
2.6 |
2.2 |
|
Payments for other operating activities |
-4.4 |
-3.0 |
|
Purchase of trading securities |
-6.5 |
-3.6 |
|
Loans and advances to customers |
-196.9 |
-158.4 |
|
Other assets |
-2.1 |
-0.3 |
|
Deposits from customers |
223.6 |
187.4 |
|
Other liabilities |
2.3 |
-0.1 |
|
Cash from Operating Activities |
48.2 |
42.6 |
|
|
|
|
|
Purchase of property, plant and equipmen |
-3.5 |
-1.3 |
|
Cash from Investing Activities |
-3.5 |
-1.3 |
|
|
|
|
|
Foreign Exchange Effects |
5.0 |
4.1 |
|
Net Change in Cash |
49.8 |
45.4 |
|
|
|
|
|
Net Cash - Beginning Balance |
130.0 |
85.7 |
|
Net Cash - Ending Balance |
179.7 |
131.0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
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.