MIRA INFORM REPORT

 

 

Report Date :           

06.01.2012

 

IDENTIFICATION DETAILS

 

Name :

EMIRATES NBD

 

 

Registered Office :

Baniyas Road, PO Box  777, Dubai

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

16.10.2007

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Providers of corporate, retail, Islamic and investment banking services

 

 

No. of Employees :

7,000

 

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 :

US$ 25,000,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : EMIRATES NBD

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company

Registration Date                                   : 16th October 2007

Issued Capital                                        : UAE Dh 43,600,000,000

Paid up Capital                                      : UAE Dh 43,600,000,000

Total Workforce                                     : 7,000

Activities                                               : Providers of corporate, retail, Islamic and investment banking services.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 25,000,000

 

COMPANY NAME

 

EMIRATES NBD

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Baniyas Road

PO Box             : 777

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2256256 / 6094112 / 7014444

Facsimile          : (971-4) 2256156 / 2230031

 

Premises

Subject operates from a large suite of offices that are owned and located in the Central Business Area of Dubai.

 

Branch Offices

Subject has 132 branches and over 700 ATM’s located throughout the United Arab Emirates. It also has branches in London, Jersey and Singapore.

 

 

KEY PRINCIPALS

 

     Name                                                                                                          Position

 

·       Ahmed Humaid Al Tayer                                                                                Chairman

 

·       Easa Saleh Al Gurg                                                                                       Vice Chairman

 

·       Fardan Bin Ali Al Fardan                                                                                Director

 

·       Abdulla Ahmed Lootah                                                                                   Director

 

·       Khalid Jassim Kalban                                                                                    Director

 

·       Hamad Mubarak Buamim                                                                               Director

 

·       Hussain Hassan Mirza Al Sayegh                                                                   Director

 

·       Abdulla Sultan Mohamed Al Owais                                                                 Director

 

·       Buti Obaid Buti Al Mulla                                                                                 Director

 

·       Khalid Juma Al Majid                                                                                     Director

 

·       Rick Pudner                                                                                                  Chief Executive Officer

 

·       Abdulla Qassem                                                                                           Chief Operating Officer

 

·       Suhail Bin Tarraf                                                                                            Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th October 2007

 

History                         : Subject was formed by the merger of Emirates Bank International and National Bank of

  Dubai.

 

Legal Form                  : Limited Liability Company - LLC

 

Issued Capital              : UAE Dh 43,600,000,000

 

Paid up Capital            : UAE Dh 43,600,000,000

 

Name of Shareholder (s)                                                      Percentage

 

·       Government of Dubai                                                 55.64%

 

·       Jumal Al Majid Abdulla                                                            5.33%

 

·       Local businessmen and private investors                                 39.03%

 

 

AFFILIATED COMPANIES

 

·       Emirates Islamic Bank PJSC

PO Box: 6564

Dubai

Tel: (971-4) 7015210

 

·       Network International LLC

PO Box: 4487

Dubai

Tel: (971-4) 3032431

 

·       Diners Club UAE LLC

PO Box: 777

Dubai

Tel: (971-4) 3160355

 

·       National General Insurance Company PJSC

PO Box: 154

Dubai

Tel: (971-4) 2222772

 

·       Union Properties PJSC

PO Box: 24649

Dubai

Tel: (971-4) 8851555

 

·       Emirates NBD Securities LLC

PO Box: 9409

Dubai

Tel: (971-4) 3319111

 

·       Buzz Contact Centre Solution LLC

PO Box: 777

Dubai

Tel: (971-4) 3160123

 

·       Emirates Money Consumer Finance LLC

PO Box: 2923

Dubai

Tel: (971-4) 2092446

 

·       Emirates NBD Properties LLC

PO Box: 112777

Dubai

Tel: (971-4) 7015354

 

·       Emirates NBD Capital Ltd

PO Box: 506710

Dubai

Tel: (971-4) 3032800

 

·       Emirates Financial Services PSC

PO Box: 2336

Dubai

Tel: (971-4) 2012808

 

·       Emirates NBD Asset Management Ltd

Dubai

Tel: (971-4) 2373344

 

·       ETFS LLC

PO Box: 46046

Dubai

Tel: (971-4) 2373344

 

 

OPERATIONS

 

Activities: Engaged in the provision of corporate, retail, Islamic and investment banking services.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 7,000 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 10,800,000,000 UAE Dh 9,700,000,000

 

Net Profit                                   UAE Dh   3,300,000,000 UAE Dh 2,300,000,000

 

Local sources consider subject’s financial condition to be Good.

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.82.33

Euro

1

Rs.68.19

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.