MIRA INFORM REPORT

 

 

Report Date :           

09.03.2012

 

IDENTIFICATION DETAILS

 

Name :

PRIME BANK LIMITED

 

 

Registered Office :

Adamjee Court, Annexe Building-2,119-120, Motijheel C/A, Dhaka, 1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1995

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Subject is a commercial bank

 

 

No. of Employees :

2,293

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

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)

Bangladesh

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address  

 

Prime Bank Limited

Adamjee Court

Annexe Building-2,119-120,

Motijheel C/A,

Dhaka, 1000

Bangladesh

Tel:       880-2-9567265

Fax:      880-2-9567230

Web:    www.primebank.com.bd

 

 

Synthesis

           

Employees:                  2,293

Company Type:            Public Independent

Traded:

Dhaka Stock Exchange: PRIMEBANK

Incorporation Date:         1995

Auditor:                        Syful Shamsul Alam & Co         

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Bangladesh Taka

Annual Sales:               270.7  1

Net Income:                  52.3

Total Assets:                2,206.9  2

Market Value:               392.5

(16-Feb-2012)

 

 

Business Description     

 

Prime Bank Limited (the Bank) is a commercial bank. The Bank’s segments consist of Conventional Banking, Islamic Banking, Prime Bank Investment Limited and Prime Bank Securities Limited. Diversification of products and services include corporate banking, retail banking and consumer banking from industry to agriculture, and real state to software. The Bank’s products and services include deposits, forex and fund management, special services, fund transfer, travel services, credit cards, foreign currency deposit accounts, advances, treasury and other services. Forex and fund management includes import/export financing, custodian services and money market lending and borrowing. Special services include cash services. Fund transfer services include inter-branch money transfer and telegraphic transfer. Travel services include Traveler’s Cheques. Credit Cards consist of Visa Credit Card-Local and Master Card-Local. In August 2010, it opened a subsidiary Company, PBL Exchange (UK) Ltd. For the six months ended 30 June 2009, Prime Bank Limited's interest income rose %13 to Taka5.92B. Net interest income after loan loss provision rose % to Taka. Net income rose %78 to Taka1.50B. Net interest income reflects an increase in interest income on advances and lower provision for loan loss. Net income also reflects the absence of exceptional items. Prime Bank Limited is a Bngladeshi bank.

Industry             

Industry            Commercial Banks

ANZSIC 2006:    6240 - Financial Asset Investing

NACE 2002:      6523 - Other financial intermediation not elsewhere classified

NAICS 2002:     551111 - Offices of Bank Holding Companies

UK SIC 2003:    65234 - Activities of bank holding companies

US SIC 1987:    6712 - Offices of Bank Holding Companies

 

           

Key Executives   

 

Name

Title

Mohammad Ehsanul Haque

Chief Executive Officer, Director

Ahmed Kamal Khan Chowdhury

Chief Financial Officer, Deputy Managing Director

Md. Tabarak Hossain Bhuiyan

Senior Executive Vice President, Head - HR Division & Marketing

Khondaker Iqbal Hossain

Senior Executive Vice President

Manish Kumar Ghosh

Company Secretary

 

 

Significant Developments

 

 

Topic

#*

Most Recent Headline

Date

Officer Changes

3

Prime Bank Ltd Gets Ehsan As New MD-The Financial Express (Bangladesh)

16-Sep-2011

Strategic Combinations

1

Prime Bank Ltd And Dipon Consulting Services Signs Commercial Agreement-The Financial Express (Bangladesh)

22-Aug-2011

New Business / Unit / Subsidiary

3

Prime Bank Ltd Opens SME Branch At Madunaghat-The Financial Express (Bangladesh)

29-Nov-2011

General Products

1

Prime Bank Ltd To Launch Mobile Banking By Q1 Of Next Year-The Financial Express (Bangladesh)

8-Dec-2011

Dividends

1

Prime Bank Ltd Approves 35% Stock, 5% Cash Dividend-The Financial Express (Bangladesh)

28-Mar-2011

* number of significant developments within the last 12 months

 

 

 

 

news

 

Title

Date

Govt's nett borrowing from banks Tk 7,743 crore till Feb 19, 2012
United News of Bangladesh (190 Words)

29-Feb-2012

Prime Bank holds annual business confce
New Nation (Bangladesh) (128 Words)

25-Feb-2012

Dhaka stocks end lower, turnover up
Financial Express (India) (416 Words)

17-Feb-2012

Mozammel joins Jamuna Bank as DMD
New Nation (Bangladesh) (85 Words)

16-Feb-2012

Bank of Moscow sees 43% rise in retail lending in 2012
EquityBites (137 Words)

15-Feb-2012

 

 

Financial Summary    

 

As of 30-Sep-2011

Key Ratios                               Company         Industry

Debt to Equity (MRQ)                 0.38     

Sales 5 Year Growth                  29.80                9.28

Net Profit Margin (TTM) %           32.93                23.51

Return on Assets (TTM) %          2.29                  0.88

Return on Equity (TTM) %           23.41                7.73

 

 

Stock Snapshot

 

 

Traded: Dhaka Stock Exchange: PRIMEBANK

 

As of 16-Feb-2012

   Financials in: BDT

Recent Price

41.80

 

EPS

6.90

52 Week High

52.80

 

Price/Sales

3.02

52 Week Low

33.80

 

Dividend Rate

1.00

Avg. Volume (mil)

0.58

 

Price/Earnings

7.79

Market Value (mil)

32,596.04

 

Price/Book

13.82

 

Price % Change

Rel S&P 500%

4 Week

-1.18%

 

13 Week

-8.93%

 

52 Week

-9.71%

 

Year to Date

-6.07%

 

 

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

Adamjee Court

Annexe Building-2,119-120,

Motijheel C/A,

Dhaka, 1000

Bangladesh

Tel:       880-2-9567265

Fax:      880-2-9567230

Web:    www.primebank.com.bd

           

Quote Symbol - Exchange

PRIMEBANK - Dhaka Stock Exchange

 

Sales BDT(mil):             18,839.7

Assets BDT(mil):           155,532.8

Employees:                   2,293

Fiscal Year End:            31-Dec-2010

Industry:                        Commercial Banks

Incorporation Date:         1995

Company Type:             Public Independent

Quoted Status:              Quoted

Chief Executive Officer,

Director:                        Mohammad Ehsanul Haque

 

Company Web Links

·         Company Contact/E-mail

·         Corporate History/Profile

·         Employment Opportunities

·         Executives

·         Financial Information

·         Home Page

·         Products/Services

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Market Data

·         Shareholders

·         Subsidiaries

·         Key Corporate Relationships

 

 

Industry Codes

 

ANZSIC 2006 Codes:

6221     -          Banking

6240     -          Financial Asset Investing

 

NACE 2002 Codes:

6512     -          Other monetary intermediation

6523     -          Other financial intermediation not elsewhere classified

 

NAICS 2002 Codes:

551111  -          Offices of Bank Holding Companies

522190  -          Other Depository Credit Intermediation

 

US SIC 1987:

6029     -          Commercial Banks, Not Elsewhere Classified

6712     -          Offices of Bank Holding Companies

 

UK SIC 2003:

65234   -          Activities of bank holding companies

65121   -          Banks

 

Business Description

Prime Bank Limited (the Bank) is a commercial bank. The Bank’s segments consist of Conventional Banking, Islamic Banking, Prime Bank Investment Limited and Prime Bank Securities Limited. Diversification of products and services include corporate banking, retail banking and consumer banking from industry to agriculture, and real state to software. The Bank’s products and services include deposits, forex and fund management, special services, fund transfer, travel services, credit cards, foreign currency deposit accounts, advances, treasury and other services. Forex and fund management includes import/export financing, custodian services and money market lending and borrowing. Special services include cash services. Fund transfer services include inter-branch money transfer and telegraphic transfer. Travel services include Traveler’s Cheques. Credit Cards consist of Visa Credit Card-Local and Master Card-Local. In August 2010, it opened a subsidiary Company, PBL Exchange (UK) Ltd. For the six months ended 30 June 2009, Prime Bank Limited's interest income rose %13 to Taka5.92B. Net interest income after loan loss provision rose % to Taka. Net income rose %78 to Taka1.50B. Net interest income reflects an increase in interest income on advances and lower provision for loan loss. Net income also reflects the absence of exceptional items. Prime Bank Limited is a Bngladeshi bank.

 

More Business Descriptions

Provision of a wide range of commercial, corporate and personal banking services

 

Financial Data

Financials in:

BDT(mil)

 

Revenue:

18,839.7

Net Income:

3,642.8

Assets:

155,532.8

Long Term Debt:

0.0

 

Total Liabilities:

138,066.2

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

12.9%

29.0%

24.4%

 

Market Data

Quote Symbol:

PRIMEBANK

Exchange:

Dhaka Stock Exchange

Currency:

BDT

Stock Price:

41.8

Stock Price Date:

02-16-2012

52 Week Price Change %:

-9.7

Market Value (mil):

32,596,040.0

 

SEDOL:

6261771

ISIN:

BD0116PMBNK2

 

Equity and Dept Distribution:

03/2009, Scrip Issue, 25 new shares for every 100 shares held.03/2010, Bonus Issue, 30 new shares for every 100 shares held.06/2010, Rights Issue, 1 new share for every 1 share held @ BDT 300 (Factor: 1.117445).01/2011, 100-for-10 Stock split. 07/2011, 7-for-20 Stock split.

 

 

Subsidiaries

Company

Percentage Owned

Country

Prime Exchange Co Pte Ltd

100%

SINGAPORE

PBL Exchange (UK) Limited

100%

UK

 

 

 

Shareholders

 

 

Major Shareholders

General Public (38.33%)

 

 

 

Key Corporate Relationships

Auditor:

Syful Shamsul Alam & Co

 

Auditor:

Syful Shamsul Alam & Co, ACNABIN, Syful Shamsul Alam & Co

 

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Azam J. Chowdhury

 

Chairman of the Board

Chairman

 

Reuters Biography (Prime Bank Limited)

Mr. Azam J. Chowdhury serves as Chairman of the Board of Directors of Prime Bank Limited. Mr. Chowdhury is also the Managing Director of MJL Bangladesh Limited. He is also the Director of Central Depository Bangladesh Limited (CDBL). He was Chairman of Green Delta Insurance Co. Limited, one of the general insurance companies in Bangladesh. He has corporate interest in Prime Finance & Investment Limited and Union Capital Limited; both are NBFIs in Bangladesh. Mr. Chowdhury is also the Chairman of Finlay Tea Companies. Having completed his Masters in English Literature from Dhaka University, he attended courses on Business administration in UK and Singapore. He also completed a course in Pricing and Costing sponsored by UNCTAD under United Nations. Mr. Chowdhury is also involved in social and educational development activities, which includes establishment and management of 'Mohtasin Ali High School', a private high school which is providing access to education of under privileged section of people in the locality and Diabetic Centre namely 'Bakhtunnessa Chowdhury Diabetic Centre' in his home town at Kulaura which offers free medical treatment. He is a regular contributor of articles on political issues, business and shipping in dailies and journals at home and abroad.



M English Literature, Dhaka University

Quazi Sirazul Islam

 

Vice Chairman of the Board

Vice-Chairman

 

 

Reuters Biography (Prime Bank Limited)

Mr. Quazi Sirazul Islam serves as Vice Chairman of the Board of Prime Bank Limited. A Sponsor Director & Former Chairman, Quazi Sirazul Islam is the present Vice Chairman of the Board of Prime Bank Limited. He took part in country's liberation war in 1971 and later on elected as Member of Parliament in 1996 and 2001. Mr. Sirazul Ismal is the Managing Director of Amin Jewelers Limited, one of the famous jewelers in the country. He is also a Member of Federation of Bangladesh Chamber of Commerce & Industry and Senior Vice President of Bangladesh Jewelers Association. Quazi Sirazul Islam is the Chairman of City Hospital (Burn Hospital), which is the only Private Sector Hospital of this kind in Bangladesh. He is a Member of the Board of Governors of People's University of Bangladesh. A Philanthropist by nature Mr. Islam was awarded Kabi Jasimuddin Gold Medal, Maulana Akram Kha Gold Medal, Sufi Motahar Hossain Gold Medal and Atish Dipankar Gold Medal for remarkable contribution in education. He was also awarded MJF (Melvin Jones Fellow) Medal by the Lions International Foundation for his contribution to the Society.for his contribution to the social welfare.

Shahnaz Quashem

 

Vice Chairperson of the Board

Vice-Chairman

 

 

Reuters Biography (Prime Bank Limited)

Mrs. Shahnaz Quashem serves as Vice Chairperson of the Board of Directors of Prime Bank Limited. She became a Board Member in June 2004 and was reappointed again on 30th March 2005. Mrs. Shahnaz Quashem is also a Director of Ambia Holdings Ltd. Mrs. Shahnaz is a widely traveled person and has visited numerous countries across the world. She is an active social worker and has been associated with many benevolent organization engaged in Social Welfare & Charity.

Mohammad Aslam Bhuiyan

 

Independent Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Prof. Mohammad Aslam Bhuiyan is Director of Prime Bank Ltd. He is Professor of Sociology, University of Chittagong is a educationist and was appointed an Independent Director of the Bank in April 2009. He obtained his MS in Sociology on Rural Development at the Moscow University, erstwhile USSR in 1976. He was also educated in the USA & Germany. He did his Ph.D from Bombay University under the fellowship of Indian Council of Social Science Research (ICSSR). Mr. Bhuiyan is Ex. VC of The People’s University of Bangladesh and former Chairman of the Department of Sociology, University of Chittagong. He is also former Director CUCSU, Provost Shamsun Nahar Hall, Registrar (In charge), Senate Member (elected) Chittagong University, Member Finance Committee, Dhaka University, Syndicate Member of the Moulana Bhashani University of Science & Technology and member, Presidium, Bangladesh India Friendship Society. Prof. Bhuiyan wrote more than 100 academic papers published in National & Foreign Journals including Newspapers.



PHD , University of Bombay
MS Sociology, Moscow University
MA , University of Dhaka

Mafiz Ahmed Bhuiyan

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Mafiz Ahmed Bhuiyan is Director of Prime Bank Ltd. He is a Sponsor Director of Prime Bank Limited and former Vice Chairman of the Board & Chairman of the EC. Mr. Bhuiyan is an entrepreneur and has the distinction of making substantial contribution in the Backward Linkage Industry setup in the RMG sector in its early years. He also pioneered in setting up joint-venture projects in the country with the collaboration of the developed countries. Currently, he is Director of Prime Insurance Co Ltd and Australian International School. Besides, he is Life Member of numerous educational and social welfare organizations.

Mohammad Ehsanul Haque

 

Chief Executive Officer, Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Mohammad Ehsanul Haque is Chief Executive Officer, Director of Prime Bank Ltd. He resigned as Managing Director of the company effective 15 September 2011. He joined Prime Bank Limited as Managing Director in September 2008. Mr. Haque has been in the banking industry for over 30 years in local private and multinational banks in various capacities. He started his career as a management trainee in Grindlays Bank, subsequently ANZ Grindlays Bank and worked in various other private sector banks and financial institutions. He worked in Trust Bank, was MD of BRAC Bank and setup a joint venture Bank in Afganistan and headed Infrastructure Development Company Ltd. (IDCOL) prior to his joining Prime Bank Ltd. He trained in Australia, worked in India, Vietnam and Afganistan and has been exposed to global practices in banking and finance through his association with various banks at home and abroad and in his dealing with multilateral agencies. Mr. Haque obtained his Masters in Economics from Jahangirnagar University. He is associated with the SME Foundation and is a professional teacher in famous institutions including private universities.



M Economics, Jahangirnagar University

Meherunnesa Haque

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mrs. Meherunnesa Haque is Director of Prime Bank Ltd. She is a former Chairman Engr. Md. Nurul Haque Sikder, was elected as Director of Prime Bank Limited in its 14th AGM held on 30th March 2009. A woman entrepreneur Mrs. Haque is also a Director of Palmal Group.

Mohammad Aminul Haque

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Mohammad Aminul Hoque serves as Member of the Board of Directors of Prime Bank Limited. Former Chairman Mr. Mohammad Aminul Haque is a sponsor Director of Prime Bank Ltd. After graduating in Mechanical Engineering from Bangladesh University of Engineering & Technology (BUET) in 1962, he joined Water and Power Development Authority (WAPDA), an autonomous body, as a Design Engineer. Subsequently he joined Dhaka Polytechnic Institute as a Lecturer/Instructor. Immediately after the liberation of Bangladesh he decided to opt for business towards shaping the war torn economy and established Greenland Engineers and Tractors Company (GETCO) Ltd. and continued to serve as its Managing Director. He is the Chairman of Prime Finance & Investment Ltd. a non-banking financial institution in Bangladesh.



Mechanical Engineering, Bangladesh University of Engineering and Technology

Imam Anwar Hossain

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Capt. Imam Anwar Hossain serves as Member of the Board of Directors of Prime Bank Limited. A business personality in the Shipping, Cement & Energy Sector Captain Imam Anwar Hossain is a Sponsor Director & now continuing as Chairman of the Executive Committee of the Board of Directors. Captain Hossain was graduated from Juldia Marine Academy in 1969 and became a Class- 1 Master Mariner from UK in 1980. A dynamic and competent entrepreneur, promoter and Chairman of Imam Group his business portfolio comprise of shipping, insurance, leasing, cement industry, lube oil industry and distribution etc. He is the Director of Pragati Insurance Ltd., Ben Ocean Lines Ltd., Prime Cement Ltd., Ben Marine Lines, Bengal Tiger Cement Industries Ltd., Commodity & Carriage, Jamuna Resort Ltd., Lubricants Asia Ltd. He is a Member of French-Bangladesh Chamber of Commerce and Industry, India-Bangladesh Chamber of Commerce and Industry, President of Leonine Chess Club, Founder Member of the Board of Governors of the People’s University of Bangladesh and President of 'Oitijjo Onneshon' (i.e. search for heritage)- a trust working for archeological excavation and research. He is the Chairman of the Nautical Institute (UK) Dhaka Branch. He had written a number of articles, which focused on development of port, shipping and transit trade in Bangladesh. He is the Member of Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) and currently is the Chairman of the Power and Energy Committee of FBCCI, the apex body of the business community of the country for last 25 years. He is also the former Chairman of Bangladesh Ocean Going Vessel Owners Association. He is associated with many benevolent activities towards poverty alleviation and technical education.



, Juldia Marine Academy Alumini Association

Mohammad Delwar Hossain

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Mohammad Delwar Hossain is Director of Prime Bank Ltd. He is nominated Director of East Coast Shipping Lines Ltd., has obtained Masters Degree in Social Science from the University of Dhaka. He also had his Post Graduate Diploma in Personnel Management from BMDC, Dhaka. Mr. Hossain has to his credit multifaceted experience of about two decades in diversified fields ranging from Energy to Aviation business. Mr. Hossain is the Vice President of East Coast Shipping Lines Ltd., a concern of East Coast Group since 1996, who obtained overseas training in USA and Singapore on International Marketing Procedures on different Aircrafts, Aviation Products and Security Market Products.



M Social Sciences, University of Dhaka

Qazi Saleemul Huq

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Qazi Saleemul Huq serves as Member of the Board of Directors of Prime Bank Limited. He is a former Chairman of the Board and Executive Committee of the Bank. He is one of the Sponsor Directors of Prime Bank Limited. After obtaining MBA from IBA of University of Dhaka in 1979, he started his business career through GQ Ball Pen Industries, a pioneer in production of Ballpoint Pen in Bangladesh. He is the Chairman of GQ Group of Companies, engaged in manufacturing of fertilizer bags, snack foods, mosquito coil, plastic furniture, writing equipments etc. He is also involved in various social and educational development activities.



MBA , University of Dhaka

Ferdousi Islam

 

Director

Director/Board Member

 

 

Hasina Khan

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mrs. Hasina Khan serves as Vice Chairperson of the Board of Directors of Prime Bank Limited. A Sponsor Director of Prime Bank Limited, Mrs. Hasina Khan is the present Vice Chairperson of Executive Committee of the Board of Directors. She was first appointed as a Director in June 2004 and re-appointed on 30 March 2007. She is also Director of Pedrollo Group and Pedrollo Nk Ltd, Polyexprint Ltd. Polyexlaminate Ltd., Polytape Ltd., Prime Insurance Co. Ltd, Halda Valley Tea Co. Ltd and Pedrollo Dairy & Horticulture Ltd. An eminent social worker Mrs. Khan is the Member of Khulsi Lions Club, Chittagong.

Mohammad Khaled Khandker

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Mohammad Khaled Khandker is Director of Prime Bank Ltd. He is former Chairman and present Director of Prime Bank Limited is a BUET graduate in Mechanical Engineering. After graduation he joined the then Water & Power Development Authority (WAPDA), now Bangladesh Water Development Board (BWDB). After having served BWDB for thirteen years, he started his own business in 1975 establishing Greenland Engineers & Tractors Company Limited (GETCO) along with few associates which by now has attained an enviable position among the contemporary business community in Bangladesh. He is currently Chairman & Managing Director of GETCO Telecommunications Limited, GETCO Agro Vision Limited and GETCO Limited. He is Vice- Chairman and Member, Board of Governor, Prime Asia University. Besides, he is associated with numerous Chamber Bodies and Societies in different capacities prominent among which are Institute of Engineers, Bangladesh, National Heart Foundation of Bangladesh, Diabetic Association of Bangladesh, AMCHAM, Bangladesh, CANCHAM, China-Bangladesh Friendship Association, Bangladesh Railway Spares and Accessories Suppliers' Association, International WHO's WHO Historical Society and 62-Engineers' Club.



Mechanical Engineering, Bangladesh University of Engineering and Technology

Md. Shirajul Islam Mollah

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Md. Shirajul Islam Mollah is Director of Prime Bank Ltd. He is a Sponsor Director and Former Chairman of Executive Committee, was elected Director of the Prime Bank Limited in its 14th AGM held on 30th March 2009. Mr. Mollah is the Chairman of the People’s University of Bangladesh. He is also Managing Director of China Bangla Ceramic Industries Limited, Bajnabo Textile Mills Ltd, Bengal Tiger Cement Industries Limited, Rajanigandha Cargo Limited and Director of Rajanigandha Tanker Limited.

Manzur Murshed

 

Depositor Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mr. Manzur Murshed is Depositor Director of Prime Bank Ltd. He is a retired govt. official, appointed Depositor Director of Prime Bank Limited on 19th March 2009. He graduated in Engineering (Electrical) in 1961 from University of Dhaka and MA (Public Admin) from American University, Beirut. He started his career in 1961 as Assistant Engineer in East Pakistan Water and Power Development Authority (EPWAPDA) and retired from services as member, Planning & Development in December 1995. He was also Director of Eastern Cables Ltd. He is a Fellow of IEB, Member of Dhaka Club and Kurmitola Golf Club. He at present runs a consultancy service in the Power Sector.



Electrical Engineering, University of Dhaka
MA Public Administration, American University

Ainun Nishat

 

Depositor Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Prof. Dr. Ainun Nishat is Depositor Director of Prime Bank Ltd. He is a personality in the arena of Water Management, Climate Change, Environment and Disaster Management etc. was appointed as Director of Prime Bank Limited from the Depositor side on 19th March 2009. Presently he is Vice Chancellor of BRAC University, Dhaka. He obtained Ph.D. in Civil Engineering from University of Strathclyde, Glasgow, U.K. He is a graduate of Bangladesh University of Engineering and Technology (BUET). He was Professor, Dept. of Water Resources Engineering, BUET (Head of Department, 1986-1988), Director, Institute of Flood Control and Drainage Research, BUET, Dhaka.



PHD Civil Engineering, University of Strathclyde
MA Public Administration, American University
BS Electrical Engineering, University of Dhaka

Razia Rahman

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mrs. Razia Rahman serves as Member of the Board of Directors of Prime Bank Limited. She is a sponsor Director of Prime Bank Limited. She is also the Managing Director of Transworld Bicycle Co. Limited, Meghna Components Limited, Uniglory Wheels Limited, Uniglory Steel Products Limited. Chairman, Meghna Innova Rubber Co. Limited, Uniglory Cycle Industries Limited, Meghna Associates Limited, Meghna Rubber Industries Limited, Cycle Life Limited, Mahin Cycle Industries Limited, Abrar Steel Industries Limited, Meghna Holdings Limited. Director, Meghna Bangladesh Limited, Uniglory Cycle Components Limited. Proprietor, Concept Cycling etc.

Maksudar Sarkar

 

Director

Director/Board Member

 

 

Muslima Shirin

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Mrs. Muslima Shirin is Director of Prime Bank Ltd. She is the Chairperson of MAWSONS Ltd., engaged in business. She is also engaged in real estate business in the name of Everest Homes Limited. She represents in the Board of Prime Finance & Investment Limited on behalf of MAWSONS Ltd.

Nafis Sikder

 

Director

Director/Board Member

 

 

Saheda Pervin Trisha

 

Director

Director/Board Member

 

 

Reuters Biography (Prime Bank Limited)

Ms. Saheda Pervin Trisha serves as Member of the Board of Directors of Prime Bank Limited. She is a young and promising entrepreneur. An MBA from the faculty of Business Studies, University of Dhaka, Ms. Trisha also holds the position of Directorship of Prime Insurance Co. Ltd., VIP Shahadat Poultry & Hatchery, VIP Shahadat Cold Storage and Rangpur Agro Industries.



MBA Business, University of Dhaka

 

Executives

 

Name

Title

Function

Source

Mohammad Ehsanul Haque

 

Chief Executive Officer, Director

Chief Executive Officer

RT 

Reuters Biography (Prime Bank Limited)

Mr. Mohammad Ehsanul Haque is Chief Executive Officer, Director of Prime Bank Ltd. He resigned as Managing Director of the company effective 15 September 2011. He joined Prime Bank Limited as Managing Director in September 2008. Mr. Haque has been in the banking industry for over 30 years in local private and multinational banks in various capacities. He started his career as a management trainee in Grindlays Bank, subsequently ANZ Grindlays Bank and worked in various other private sector banks and financial institutions. He worked in Trust Bank, was MD of BRAC Bank and setup a joint venture Bank in Afganistan and headed Infrastructure Development Company Ltd. (IDCOL) prior to his joining Prime Bank Ltd. He trained in Australia, worked in India, Vietnam and Afganistan and has been exposed to global practices in banking and finance through his association with various banks at home and abroad and in his dealing with multilateral agencies. Mr. Haque obtained his Masters in Economics from Jahangirnagar University. He is associated with the SME Foundation and is a professional teacher in famous institutions including private universities.



M Economics, Jahangirnagar University

Md. Tabarak Hossain Bhuiyan

 

Senior Executive Vice President, Head - HR Division & Marketing

Division Head Executive

 

 

Habibur Rahman

 

Senior Executive Vice President, Head - International Division

Division Head Executive

 

 

M Ehsanaul Haque

 

Managing Director

Managing Director

 

 

Md. Mehmood Husain

 

Additional Managing Director, Chief Business Officer

Managing Director

 

 

Md. Ehsan Khasru

 

Managing Director

Managing Director

 

 

Reuters Biography (Prime Bank Limited)

Mr. Md. Ehsan Khasru has been appointed as Managing Director of Prime Bank Limited with effect from 15 September 2011. Prior to joining Prime Bank, he was Additional Managing Director of The City Bank Ltd. Mr. Khasru started his banking career as a Probationary officer in National Bank Ltd during 1983. Before joining the Marketing Manager (Relationship) position in the Business and Corporate Banking Division of American Express Bank during 1992 to 1999, he also served National Credit & Commerce Bank Ltd for some time.

Manish Kumar Ghosh

 

Company Secretary

Administration Executive

 

 

Ahmed Kamal Khan Chowdhury

 

Chief Financial Officer, Deputy Managing Director

Finance Executive

 

 

Isbahul Bar Chowdhury

 

Deputy Managing Director, Chief - Small, Medium & Retail

Other

 

 

Shawkat Hossain

 

Senior Executive Vice President, Head of SME

Other

 

 



M , Asian Institute of Management

Md. Monawar Hossain

 

Senior Executive Vice President, Head - L&SSD

Other

 

 

Khondaker Iqbal Hossain

 

Senior Executive Vice President

Other

 

 

Md. Mozammel Hussain

 

Senior Executive Vice President

Other

 

 

Quazi A S M Anisul Kabir

 

Senior Executive Vice President

Other

 

 

Md. Reazul Karim

 

Chief Risk Officer, Deputy Managing Director

Other

 

 

Reuters Biography (Prime Bank Limited)

Mr. Md. Reazul Karim is Chief Risk Officer, Deputy Managing Director of Prime Bank Ltd.

Md. Golam Rabbani

 

Deputy Managing Director, Chief - Recovery & Legal

Other

 

 

Significant Developments

 

Prime Bank Ltd To Launch Mobile Banking By Q1 Of Next Year-The Financial Express (Bangladesh) Dec 08, 2011

 

The Financial Express (Bangladesh) reported that Prime Bank Ltd is going to launch mobile-banking by the first quarter of 2012 in its strong bid to grab the unbanked areas of the economy.

 

Prime Bank Ltd Opens SME Branch At Madunaghat-The Financial Express (Bangladesh) Nov 29, 2011

 

The Financial Express (Bangladesh) reported that Prime Bank Ltd opened a 'SME and agriculture' branch at Madunaghat in Chittagong recently. Former Chairman of the Bank Md. Nader Khan inaugurated the branch as the chief guest. Directors of the Bank Hasina Khan and Shahnaz Quashem were present at the ceremony as the special guests. Prime Bank Deputy Managing Direc-tor Ishahul Bar Chowdhury presided over the programme.

 

Prime Bank Ltd Gets Ehsan As New MD-The Financial Express (Bangladesh) Sep 16, 2011

 

The Financial Express (Bangladesh) reported that Md. Ehsan Khasru has joined Prime Bank Ltd as its Managing Director on Thursday.

 

Prime Bank Ltd Elects Shirajul Islam New Chairman-The Financial Express (Bangladesh) Aug 27, 2011

 

The Financial Express (Bangladesh) reported that the Board of Directors of Prime Bank Ltd in its Meeting held on Wednesday unanimously elected Md. Shirajul Islam Mollah as the Chairman of the Board of Directors of the Bank for the next term of two years effective from that day.

 

Prime Bank Ltd And Dipon Consulting Services Signs Commercial Agreement-The Financial Express (Bangladesh) Aug 22, 2011

 

The Financial Express (Bangladesh) reported that Prime Bank Ltd and Dipon Consulting Services have signed a commercial agreement to launch Biometric Smart Card Money Transfer Services. The biometric smart card money transfer service is going to build the financial services infrastructure to increase the reach of financial services to the unbanked in urban and rural areas, powered by Prime Bank Limited in association with Dipon Consultancy Services DGe-Pay biometrics smart card technology.

 

Prime Bank Ltd Opens Branch At Baneswar-The New Nation (Bangladesh) Jul 29, 2011

 

The New Nation (Bangladesh) reported that Prime Bank Ltd opened its 97th branch at Baneswar on Sunday. Chairman of the Bank Mohammad Aminul Haque inaugurated the branch as the ChiefGuest.

 

Prime Bank Ltd Opens Branch At Jamalpur-The Financial Express (Bangladesh) Jul 12, 2011

 

The Financial Express (Bangladesh) reported that Prime Bank Ltd opened its 111th Branch (including 15 SME branches) at Jamalpur recently. Deputy Commissioner of Jamalpur District Md. Sirajuddin Ahamed inaugurated the branch as the chief guest. Managing Director of the Prime Bank M. Ehsanul Haque presided over the opening ceremony.

 

Prime Bank Ltd Gets Chairman-The Financial Express (Bangladesh) Jun 16, 2011

 

The Financial Express (Bangladesh) reported that Aminul Haque,MA Khaleque,Mafiz Ahmed Mohammad Aminul Haque has been unanimously elected Chairman of Prime Bank Ltd for two years effective from June 1, 2011.

Prime Bank Ltd Approves 35% Stock, 5% Cash Dividend-The Financial Express (Bangladesh) Mar 28, 2011

 

The Financial Express (Bangladesh) reported that Prime Bank Ltd approved 35% stock and 5% cash dividends.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Interest & Fees on Loans

182.4

157.6

132.8

104.1

75.6

Interest Income, Bank

182.4

157.6

132.8

104.1

75.6

    Interest on Other Borrowings

115.6

122.1

104.0

76.5

53.8

Total Interest Expense

115.6

122.1

104.0

76.5

53.8

Net Interest Income

66.8

35.5

28.8

27.6

21.8

 

 

 

 

 

 

Loan Loss Provision

7.9

10.1

20.2

13.2

5.7

Net Interest Income after Loan Loss Provision

58.9

25.4

8.7

14.4

16.1

 

 

 

 

 

 

    Fees & Commissions from Operations

39.1

26.0

21.4

17.6

14.6

    Investment Securities Gains

39.0

48.9

25.4

18.8

6.1

    Other Revenue

10.2

9.4

9.2

6.1

4.6

Non-Interest Income, Bank

88.3

84.2

56.0

42.5

25.2

    Labor & Related Expenses

-24.9

-18.6

-13.4

-10.8

-8.4

    Depreciation Expense

-3.2

-2.7

-2.2

-1.5

-1.1

    Other Expense

-26.0

-21.1

-12.8

-10.5

-6.7

Non-Interest Expense, Bank

-54.2

-42.5

-28.5

-22.9

-16.1

Income Before Tax

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Total Income Tax

40.6

26.2

18.0

13.7

10.0

Income After Tax

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Net Income Before Extraord Items

52.3

40.9

18.2

20.3

15.2

Net Income

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Basic EPS Excl Extraord Items

0.10

0.08

0.04

0.04

0.03

Basic/Primary EPS Incl Extraord Items

0.10

0.08

0.04

0.04

0.03

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

52.3

40.9

18.2

20.3

15.2

Diluted Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Diluted EPS Excl Extraord Items

0.10

0.08

0.04

0.04

0.03

Diluted EPS Incl Extraord Items

0.10

0.08

0.04

0.04

0.03

Dividends per Share - Common Stock Primary Issue

0.01

0.01

0.00

0.00

0.00

Gross Dividends - Common Stock

33.2

-

0.0

0.0

0.0

Depreciation, Supplemental

3.2

2.7

2.2

1.5

1.1

Normalized Income Before Tax

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

40.6

26.2

18.0

13.7

10.0

Normalized Income After Tax

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic Normalized EPS

0.10

0.08

0.04

0.04

0.03

Diluted Normalized EPS

0.10

0.08

0.04

0.04

0.03

Rental Expenses

4.6

4.1

3.0

2.3

1.7

Bank Total Revenue

270.7

241.8

188.8

146.6

100.8

    Current Tax - Domestic

37.1

25.1

14.8

14.7

8.6

Current Tax - Total

37.1

25.1

14.8

14.7

8.6

    Deferred Tax - Domestic

3.6

1.0

3.2

-1.0

1.4

Deferred Tax - Total

3.6

1.0

3.2

-1.0

1.4

Income Tax - Total

40.6

26.2

18.0

13.7

10.0

Defined Contribution Expense - Domestic

0.8

0.5

0.4

0.3

0.3

Total Pension Expense

0.8

0.5

0.4

0.3

0.3

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

Syful Shamsul Alam & Co

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Cash & Due from Banks

155.7

160.1

134.1

112.8

75.8

    Other Short Term Investments

40.2

13.2

33.3

8.7

2.5

    Total Investment Securities

274.8

274.6

302.0

173.8

132.6

Other Earning Assets, Total

315.0

287.8

335.3

182.6

135.1

    Total Gross Loans

1,715.9

1,321.9

1,120.9

845.9

662.5

    Loan Loss Allowances

-29.7

-23.2

-23.8

-15.2

-11.0

Net Loans

1,686.2

1,298.7

1,097.1

830.7

651.5

        Buildings

1.7

0.9

0.4

0.2

0.1

        Land/Improvements

7.7

7.7

7.4

0.9

0.7

        Machinery/Equipment

23.2

20.4

16.8

11.7

8.9

        Construction in Progress

-

-

-

-

0.0

        Other Property/Plant/Equipment

0.8

0.1

0.1

1.8

0.0

    Property/Plant/Equipment - Gross

33.4

29.1

24.7

14.6

9.8

    Accumulated Depreciation

-11.0

-8.8

-6.8

-5.1

-3.8

Property/Plant/Equipment - Net

22.4

20.3

17.9

9.5

6.0

    Intangibles - Gross

3.0

2.9

2.3

-

-

    Accumulated Intangible Amortization

-0.7

-0.4

-0.2

-

-

Intangibles, Net

2.3

2.5

2.1

-

-

    Other Assets

25.2

35.2

17.2

9.1

13.1

Other Assets, Total

25.2

35.2

17.2

9.1

13.1

Total Assets

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    Interest Bearing Deposits

1,500.0

1,294.0

1,252.5

850.7

669.9

    Other Deposits

310.2

230.0

173.1

152.7

119.6

Total Deposits

1,810.2

1,524.1

1,425.6

1,003.4

789.5

Total Short Term Borrowings

34.6

23.2

18.0

16.5

7.6

    Income Taxes Payable

-

-

-

-

6.1

Other Current liabilities, Total

-

-

-

-

6.1

    Capital Lease Obligations

-

-

-

-

0.0

Total Long Term Debt

0.0

0.0

0.0

0.0

0.0

Total Debt

34.6

23.2

18.0

16.5

7.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

-

-

-

-

2.5

Deferred Income Tax

-

-

-

-

2.5

Minority Interest

0.0

0.0

-

-

-

    Pension Benefits - Underfunded

-

-

-

-

1.0

    Other Liabilities

114.3

87.0

62.8

49.1

18.9

Other Liabilities, Total

114.3

87.0

62.8

49.1

19.9

Total Liabilities

1,959.1

1,634.2

1,506.4

1,068.9

825.7

 

 

 

 

 

 

    Common Stock

82.0

51.3

41.3

32.7

25.3

Common Stock

82.0

51.3

41.3

32.7

25.3

Additional Paid-In Capital

31.8

0.0

-

-

-

Retained Earnings (Accumulated Deficit)

110.3

80.2

49.8

42.8

30.5

Unrealized Gain (Loss)

23.7

38.8

6.3

0.2

0.0

    Translation Adjustment

0.0

0.0

0.0

0.0

-

Other Equity, Total

0.0

0.0

0.0

0.0

-

Total Equity

247.8

170.3

97.3

75.7

55.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Total Common Shares Outstanding

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Employees

2,139

1,844

1,551

1,400

1,172

Number of Common Shareholders

-

-

9,180

7,368

5,262

Accumulated Intangible Amort, Suppl.

0.7

0.4

0.2

-

-

Total Risk-Weighted Capital

2.6

0.0

1.0

0.8

0.6

Tier 1 Capital %

8.60%

10.95%

8.67%

9.50%

8.71%

Total Capital %

11.69%

14.71%

10.88%

11.50%

9.95%

    Interest Costs

-0.1

-0.1

0.0

0.0

0.0

Total Capital Leases, Supplemental

0.3

0.4

0.0

0.0

0.0

Capital Lease Payments Due in Year 1

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 2

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 3

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 4

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 5

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in 2-3 Years

0.1

0.2

0.0

0.0

0.0

Capital Lease Payments Due in 4-5 Years

0.1

0.2

0.0

0.0

0.0

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Cash Receipts

186.6

170.1

140.2

102.8

81.7

Cash Payments

-97.5

-102.2

-80.6

-76.5

-53.8

    Other Assets

-32.6

-88.0

-128.6

-55.1

-36.1

    Other Liabilities

293.8

136.2

385.3

243.6

264.2

    Other Assets & Liabilities, Net

11.9

5.3

1.4

8.9

-2.0

    Other Operating Cash Flow

0.0

13.0

-2.4

-4.9

-5.1

    Investment Securities, Gains/Losses

-3.4

97.1

-16.1

-17.4

-16.9

    Loans, Gains/Losses

-415.1

-207.8

-259.8

-185.5

-190.4

Changes in Working Capital

-145.3

-44.2

-20.2

-10.4

13.7

Cash from Operating Activities

-56.2

23.7

39.5

15.9

41.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-5.0

-5.0

-7.9

-4.9

-1.5

Capital Expenditures

-5.0

-5.0

-7.9

-4.9

-1.5

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Investment, Net

-19.9

9.5

-8.9

-6.2

-0.9

    Loans

-0.1

-0.1

0.0

0.0

0.0

    Other Investing Cash Flow

0.1

0.1

0.1

0.1

0.1

Other Investing Cash Flow Items, Total

-19.9

9.5

-8.9

-6.2

-0.8

Cash from Investing Activities

-24.9

4.5

-16.8

-11.1

-2.3

 

 

 

 

 

 

    Cash Dividends Paid - Common

-5.1

0.0

-3.3

0.0

0.0

Total Cash Dividends Paid

-5.1

0.0

-3.3

0.0

0.0

        Sale/Issuance of Common

48.8

0.0

-

-

-

    Common Stock, Net

48.8

0.0

-

-

-

Issuance (Retirement) of Stock, Net

48.8

0.0

-

-

-

        Long Term Debt Issued

35.9

0.0

-

-

-

    Long Term Debt, Net

35.9

0.0

-

-

-

Issuance (Retirement) of Debt, Net

35.9

0.0

-

-

-

Cash from Financing Activities

79.6

0.0

-3.3

0.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-0.2

0.0

0.0

0.0

0.0

Net Change in Cash

-1.6

28.3

19.4

4.9

39.3

 

 

 

 

 

 

Net Cash - Beginning Balance

159.3

132.4

113.9

108.5

69.4

Net Cash - Ending Balance

157.7

160.6

133.2

113.4

108.7

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Interest / investment income

162.8

137.0

116.2

89.8

65.7

    Interest income from credit card

1.7

1.4

0.8

0.6

0.6

    Hire purchase

7.8

8.2

7.6

6.2

4.9

    Lease finance /Izara

10.1

11.0

8.1

7.5

4.4

Total Revenue

182.4

157.6

132.8

104.1

75.6

 

 

 

 

 

 

    Interest / profit paid on deposits and b

115.6

122.1

104.0

76.5

53.8

    Specific Provison

1.7

3.4

16.3

5.1

3.1

    General Provision

1.7

3.8

2.1

5.1

2.6

    Provision for Dimunation in Value of Inv

3.9

1.6

1.7

3.0

0.0

    Provision for Off-Shore Banking Units

0.4

0.2

0.1

0.0

-

    Provision for diminution in value of inv

0.2

0.0

0.0

-

-

    Other provisions

0.0

1.1

0.0

-

-

Total Operating Expense

123.5

132.2

124.1

89.7

59.5

 

 

 

 

 

 

    Investment income

39.0

48.9

25.4

18.8

6.1

    Commission, exchange and brokerage

39.1

26.0

21.4

17.6

14.6

    Other operating income

10.2

9.4

9.2

6.1

4.6

    Salaries and allowances

-24.7

-18.5

-13.3

-10.7

-8.2

    Rent, taxes, insurance, electricity etc.

-4.6

-4.1

-3.0

-2.3

-1.7

    Legal expenses

-0.3

-0.4

-0.2

-0.4

-0.1

    Postage, stamps, telecommunication etc.

-1.8

-1.4

-1.2

-0.9

-0.7

    Stationery, printing

-3.3

-3.7

-1.4

-1.8

-0.9

    Managing Director's salary and fees

-0.1

-0.1

-0.1

-0.1

-0.1

    Directors' fees

-0.1

0.0

0.0

0.0

0.0

    Auditors Fee

0.0

0.0

0.0

0.0

0.0

    Charges on loan losses

-

-

-

0.0

0.0

    Depreciation

-3.2

-2.7

-2.2

-1.5

-1.1

    Other Expenses

-16.1

-11.5

-7.1

-5.1

-3.4

Total Non-Interest Revenue

88.3

84.2

56.0

42.5

25.2

 

 

 

 

 

 

Total Non-Interest Expense

-54.2

-42.5

-28.5

-22.9

-16.1

 

 

 

 

 

 

Net Income Before Taxes

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Provision for Income Taxes

40.6

26.2

18.0

13.7

10.0

Net Income After Taxes

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Net Income Before Extra. Items

52.3

40.9

18.2

20.3

15.2

Net Income

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Basic EPS Excluding ExtraOrdinary Items

0.10

0.08

0.04

0.04

0.03

Basic EPS Including ExtraOrdinary Items

0.10

0.08

0.04

0.04

0.03

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

52.3

40.9

18.2

20.3

15.2

Diluted Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Diluted EPS Excluding ExtraOrd Items

0.10

0.08

0.04

0.04

0.03

Diluted EPS Including ExtraOrd Items

0.10

0.08

0.04

0.04

0.03

DPS-Common Stock

0.01

0.01

0.00

0.00

0.00

Gross Dividends - Common Stock

33.2

-

0.0

0.0

0.0

Normalized Income Before Taxes

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

40.6

26.2

18.0

13.7

10.0

Normalized Income After Taxes

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic Normalized EPS

0.10

0.08

0.04

0.04

0.03

Diluted Normalized EPS

0.10

0.08

0.04

0.04

0.03

Depreciation, Supplemental

3.2

2.7

2.2

1.5

1.1

Rental Expense, Supplemental

4.6

4.1

3.0

2.3

1.7

    Current Tax

37.1

25.1

14.8

14.7

8.6

Current Tax - Total

37.1

25.1

14.8

14.7

8.6

    Deferred Tax

3.6

1.0

3.2

-1.0

1.4

Deferred Tax - Total

3.6

1.0

3.2

-1.0

1.4

Income Tax - Total

40.6

26.2

18.0

13.7

10.0

Defined Contribution Expense - Domestic

0.8

0.5

0.4

0.3

0.3

Total Pension Expense

0.8

0.5

0.4

0.3

0.3

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash

18.0

13.4

10.9

9.6

6.6

    Balance with Bangladesh Bank and its age

117.9

134.7

93.6

68.4

53.1

    Cash with other banks in Bangladesh

10.3

6.4

6.1

23.4

9.1

    Cash with other banks Outside Bangladesh

9.5

5.6

23.5

11.4

7.0

    Money at call and short notice

0.0

0.0

0.0

0.0

21.6

    Investment Others

40.2

13.2

33.3

8.7

2.5

    Investment Government Securities

-

0.0

97.3

80.5

75.3

    Investment Government Bond

274.8

274.6

204.7

93.3

35.8

    Loans and advances

1,611.0

1,252.6

1,050.0

788.9

608.9

    Bills purchased and discounted

105.0

69.2

71.0

57.0

53.6

    Required provision for loans and advance

-29.7

-23.2

-23.8

-15.2

-11.0

    Other Assets

25.2

35.2

17.2

9.1

13.1

    Land

7.7

7.7

7.4

0.9

0.7

    Building

1.7

0.9

0.4

0.2

0.1

    Furniture & Fixtures

7.8

7.2

6.0

4.8

3.9

    Office renovation

-

-

-

-

0.0

    Office equipment and machinery

11.9

10.2

8.5

6.1

4.4

    Software

-

-

-

1.8

-

    Banks Vehicle

1.4

1.1

0.9

0.8

0.6

    Library Books

0.0

0.0

0.0

0.0

0.0

    Leased vehicles

0.4

0.4

0.0

-

-

    ATM

1.7

1.5

1.4

0.0

-

    Depreciation

-11.0

-8.8

-6.8

-5.1

-3.8

    Intangibles assets

3.0

2.9

2.3

-

-

    Amortization

-0.7

-0.4

-0.2

-

-

    Fixed Assets- Others

0.7

0.0

-

-

-

    Fixed Assets-Prime Exchange Co. Pte. Ltd

0.0

0.0

0.0

0.0

-

    Fixed Assets-Off-shore Banking Unit

0.0

0.0

0.0

0.0

-

Total Assets

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    Borrowings in Bangladesh

74.0

1.2

163.8

5.1

4.2

    Borrowings Outside Bangladesh

-

0.0

1.6

0.5

0.8

    Current deposits and other accounts

310.2

230.0

173.1

152.7

119.6

    Bill Payable

34.6

23.2

18.0

16.5

7.6

    Savings bank /Mudaraba savings deposits

217.1

174.9

98.6

86.7

59.7

    Fixed deposits / Mudaraba fixed deposits

1,208.9

1,117.9

988.5

758.4

605.2

    Provision for income tax

-

-

-

-

6.1

    Provision for gratuity

-

-

-

-

1.0

    Other Liabilities

114.3

87.0

62.8

49.1

18.9

    Obligation under finance lease

-

-

-

-

0.0

Total Long Term Debt

-

-

-

-

0.0

 

 

 

 

 

 

    Deferred tax liability

-

-

-

-

2.5

    Minority Interest

0.0

0.0

-

-

-

Total Liabilities

1,959.1

1,634.2

1,506.4

1,068.9

825.7

 

 

 

 

 

 

    Paid up Capital

82.0

51.3

41.3

32.7

25.3

    Share premium

31.8

0.0

-

-

-

    Statutory reserve

62.3

47.4

34.3

26.9

20.3

    Retained earnings/Movement of Profit and

48.0

32.7

15.5

15.9

10.2

    Revaluation Gain/Loss on Investment

20.2

35.2

2.6

0.2

0.0

    Revaluation Reserves

3.6

3.6

3.7

0.0

-

    Foreign Currency Translation

0.0

0.0

0.0

0.0

-

Total Equity

247.8

170.3

97.3

75.7

55.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    S/O-Common Stock

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Total Common Shares Outstanding

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Accumulated Intangible Amort, Suppl.

0.7

0.4

0.2

-

-

Total Risk-Weighted Capital

2,607.3

1.2

1,048.5

797.7

641.6

Tier 1 Capital %

8.60%

10.95%

8.67%

9.50%

8.71%

Total Capital %

11.69%

14.71%

10.88%

11.50%

9.95%

Number of Common Shareholders

-

-

9,180

7,368

5,262

Full-Time Employees

2,139

1,844

1,551

1,400

1,172

Capital Lease Payments Due within 1 Year

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 5

0.3

0.4

0.0

0.0

0.0

Interest Costs

-0.1

-0.1

0.0

0.0

0.0

Total Capital Leases, Supplemental

0.3

0.4

0.0

0.0

0.0

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash Receipts

186.6

170.1

140.2

102.8

81.7

    Cash Payments

-97.5

-102.2

-80.6

-76.5

-53.8

    Dividend

0.2

0.6

0.3

0.1

0.0

    Fee & Commission receipts in Cash

39.1

25.7

21.1

17.4

14.5

    Recoveries of loans previously written o

4.3

0.3

1.2

0.0

0.0

    Cash payments to employees

-15.3

-13.7

-11.0

-10.7

-8.7

    Cash payments to suppliers

-7.8

-5.5

-4.5

-4.2

-2.5

    Receipts from other operating activities

22.0

30.6

11.0

6.3

4.6

    Payments for other operating activities

-16.6

-10.1

-6.8

-6.9

-4.4

    Cash Taxes Paid

-25.8

-14.9

-13.7

-6.9

-8.6

    Purchase of trading securities (Treasury

-3.4

97.1

-16.1

-17.4

-16.9

    Loans and advances to customers

-415.1

-207.8

-259.8

-185.5

-190.4

    Other assets

-32.6

-88.0

-128.6

-55.1

-36.1

    Deposits from other banks/borrowings

97.1

-163.9

163.9

1.9

-7.1

    Deposits from customers

257.7

269.8

245.0

220.8

273.9

    Other liabilities account of customers

11.9

5.3

1.4

8.9

-2.0

    Other Liabilities

-60.9

30.2

-23.6

20.9

-2.6

Cash from Operating Activities

-56.2

23.7

39.5

15.9

41.6

 

 

 

 

 

 

    Debentures

0.1

0.1

0.1

0.1

0.1

    Payments for purchases of securities

-19.9

9.5

-8.9

-6.2

-0.9

    Purchase/sale of property, plant and equ

-5.0

-5.0

-7.9

-4.9

-1.5

    Payment against lease obligation

-0.1

-0.1

0.0

0.0

0.0

    Proceeds from sale of property, plant &

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

-24.9

4.5

-16.8

-11.1

-2.3

 

 

 

 

 

 

    Receipts from issue of sub-ordinated bon

35.9

0.0

-

-

-

    Receipts from issue of ordinary share in

48.8

0.0

-

-

-

    Dividend Paid

-5.1

0.0

-3.3

0.0

0.0

Cash from Financing Activities

79.6

0.0

-3.3

0.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-0.2

0.0

0.0

0.0

0.0

Net Change in Cash

-1.6

28.3

19.4

4.9

39.3

 

 

 

 

 

 

Cash Beginning of the Period

159.3

132.4

113.9

108.5

69.4

Cash End of the Period

157.7

160.6

133.2

113.4

108.7

 

 

Financial Health

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators USD (mil)

 

Quarter
Ending
30-Sep-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

84.1

31.49%

270.7

12.87%

23.11%

32.13%

Income Available to Common Excl Extraord Items1

12.2

10.32%

52.3

29.02%

37.58%

45.01%

Basic EPS Excl Extraord Items1

0.02

-25.03%

0.10

25.20%

36.21%

44.14%

Capital Expenditures2

31.1

440.32%

5.0

0.71%

1.19%

26.99%

Cash from Operating Activities2

109.7

277.68%

-56.2

-

-

-

Free Cash Flow

76.3

237.51%

-60.4

-

-

-

Total Assets3

2,510.0

29.50%

2,206.9

24.44%

25.01%

30.24%

Total Liabilities3

2,253.5

28.03%

1,959.1

21.98%

22.91%

28.97%

Total Long Term Debt3

0.0

-

0.0

-

-

-

Employees3

-

-

2139

16.00%

15.18%

15.87%

Total Common Shares Outstanding3

779.8

-86.50%

5,776.4

62.50%

23.44%

25.04%

1-ExchangeRate: BDT to USD Average for Period

74.501559

 

69.602650

 

 

 

2-ExchangeRate: BDT to USD Average for Period

73.031727

 

69.602650

 

 

 

3-ExchangeRate: BDT to USD Period End Date

75.225000

 

70.475000

 

 

 

Banking Industry Specific USD (mil)

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

 

Interest Income, Bank1

182.4

157.6

132.8

104.1

75.6

 

Total Interest Expense1

115.6

122.1

104.0

76.5

53.8

 

Loan Loss Provision1

7.9

10.1

20.2

13.2

5.7

 

Cash & Due from Banks3

155.7

160.1

134.1

112.8

75.8

 

Total Deposits3

1,810.2

1,524.1

1,425.6

1,003.4

789.5

 

1-ExchangeRate: BDT to USD Average for Period

69.602650

69.026932

68.582616

68.868552

68.759046

 

3-ExchangeRate: BDT to USD Period End Date

70.475000

69.260000

68.910000

69.555000

69.085000

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Pretax Margin

50.98%

42.54%

27.24%

32.70%

33.40%

Net Profit Margin

28.69%

25.95%

13.71%

19.51%

20.15%

Financial Strength

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.14

0.14

0.18

0.22

0.14

Management Effectiveness

Return on Assets

2.60%

2.40%

1.31%

1.99%

2.05%

Return on Equity

24.90%

30.52%

20.86%

30.66%

31.44%

Efficiency

Receivables Turnover

0.18

0.20

0.19

0.20

0.18

Asset Turnover

0.13

0.14

0.14

0.14

0.14

Market Valuation USD (mil)

P/E (TTM)

7.32

.

Enterprise Value2

330.6

Price/Sales (TTM)

2.81

.

Price/Book (MRQ)

1.69

Enterprise Value/EBITDA (TTM)

1.34

.

Market Cap1

392.5

1-ExchangeRate: BDT to USD on 16-Feb-2012

83.050603

 

 

 

2-ExchangeRate: BDT to USD on 30-Sep-2011

75.225000

 

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.14

0.14

0.18

0.22

0.14

Long Term Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Total Debt/Total Capital

0.14

0.14

0.18

0.22

0.14

Payout Ratio

5.43%

6.94%

0.00%

0.00%

0.00%

Effective Tax Rate

43.71%

39.01%

49.65%

40.35%

39.68%

Total Capital1

247.8

170.3

97.3

75.7

55.8

 

 

 

 

 

 

Efficiency

Asset Turnover

0.13

0.14

0.14

0.14

0.14

Receivables Turnover

0.18

0.20

0.19

0.20

0.18

Days Receivables Outstanding

2,022.48

1,810.05

1,879.91

1,858.01

2,024.76

Revenue/Employee2

124,976

130,693

121,154

103,686

85,635

 

 

 

 

 

 

Profitability

Pretax Margin

50.98%

42.54%

27.24%

32.70%

33.40%

Net Profit Margin

28.69%

25.95%

13.71%

19.51%

20.15%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

2.60%

2.40%

1.31%

1.99%

2.05%

Return on Equity

24.90%

30.52%

20.86%

30.66%

31.44%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-0.01

0.01

0.01

0.00

0.02

Operating Cash Flow/Share 2

-0.01

0.01

0.01

0.01

0.02

1-ExchangeRate: BDT to USD Period End Date

70.475

69.26

68.91

69.555

69.085

2-ExchangeRate: BDT to USD Average for Period

70.475

69.26

68.91

69.555

69.085

 

Current Market Multiples

Market Cap/Earnings (TTM)

7.32

Market Cap/Equity (MRQ)

1.69

Market Cap/Revenue (TTM)

2.02

Market Cap/EBIT (TTM)

1.79

Market Cap/EBITDA (TTM)

1.76

Enterprise Value/Earnings (TTM)

5.58

Enterprise Value/Equity (MRQ)

1.29

Enterprise Value/Revenue (TTM)

1.54

Enterprise Value/EBIT (TTM)

1.36

Enterprise Value/EBITDA (TTM)

1.34

 

Annual Income Statement

 

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Interest & Fees on Loans

182.4

157.6

132.8

104.1

75.6

Interest Income, Bank

182.4

157.6

132.8

104.1

75.6

    Interest on Other Borrowings

115.6

122.1

104.0

76.5

53.8

Total Interest Expense

115.6

122.1

104.0

76.5

53.8

Net Interest Income

66.8

35.5

28.8

27.6

21.8

 

 

 

 

 

 

Loan Loss Provision

7.9

10.1

20.2

13.2

5.7

Net Interest Income after Loan Loss Provision

58.9

25.4

8.7

14.4

16.1

 

 

 

 

 

 

    Fees & Commissions from Operations

39.1

26.0

21.4

17.6

14.6

    Investment Securities Gains

39.0

48.9

25.4

18.8

6.1

    Other Revenue

10.2

9.4

9.2

6.1

4.6

Non-Interest Income, Bank

88.3

84.2

56.0

42.5

25.2

    Labor & Related Expenses

-24.9

-18.6

-13.4

-10.8

-8.4

    Depreciation Expense

-3.2

-2.7

-2.2

-1.5

-1.1

    Other Expense

-26.0

-21.1

-12.8

-10.5

-6.7

Non-Interest Expense, Bank

-54.2

-42.5

-28.5

-22.9

-16.1

Income Before Tax

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Total Income Tax

40.6

26.2

18.0

13.7

10.0

Income After Tax

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Net Income Before Extraord Items

52.3

40.9

18.2

20.3

15.2

Net Income

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Basic EPS Excl Extraord Items

0.10

0.08

0.04

0.04

0.03

Basic/Primary EPS Incl Extraord Items

0.10

0.08

0.04

0.04

0.03

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

52.3

40.9

18.2

20.3

15.2

Diluted Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Diluted EPS Excl Extraord Items

0.10

0.08

0.04

0.04

0.03

Diluted EPS Incl Extraord Items

0.10

0.08

0.04

0.04

0.03

Dividends per Share - Common Stock Primary Issue

0.01

0.01

0.00

0.00

0.00

Gross Dividends - Common Stock

33.2

-

0.0

0.0

0.0

Depreciation, Supplemental

3.2

2.7

2.2

1.5

1.1

Normalized Income Before Tax

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

40.6

26.2

18.0

13.7

10.0

Normalized Income After Tax

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic Normalized EPS

0.10

0.08

0.04

0.04

0.03

Diluted Normalized EPS

0.10

0.08

0.04

0.04

0.03

Rental Expenses

4.6

4.1

3.0

2.3

1.7

Bank Total Revenue

270.7

241.8

188.8

146.6

100.8

    Current Tax - Domestic

37.1

25.1

14.8

14.7

8.6

Current Tax - Total

37.1

25.1

14.8

14.7

8.6

    Deferred Tax - Domestic

3.6

1.0

3.2

-1.0

1.4

Deferred Tax - Total

3.6

1.0

3.2

-1.0

1.4

Income Tax - Total

40.6

26.2

18.0

13.7

10.0

Defined Contribution Expense - Domestic

0.8

0.5

0.4

0.3

0.3

Total Pension Expense

0.8

0.5

0.4

0.3

0.3

 

 

Interim Income Statement

 

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

74.501559

73.267903

71.32044

70.399892

69.465054

 

 

 

 

 

 

    Interest & Fees on Loans

57.6

59.0

53.3

53.0

43.9

Interest Income, Bank

57.6

59.0

53.3

53.0

43.9

    Interest on Other Borrowings

46.7

43.4

37.5

32.9

27.1

Total Interest Expense

46.7

43.4

37.5

32.9

27.1

Net Interest Income

11.0

15.6

15.8

20.0

16.8

 

 

 

 

 

 

Loan Loss Provision

2.4

2.8

7.3

-1.1

4.6

Net Interest Income after Loan Loss Provision

8.5

12.8

8.5

21.1

12.2

 

 

 

 

 

 

    Fees & Commissions from Operations

9.4

10.5

10.7

11.8

11.6

    Investment Securities Gains

15.1

12.0

9.9

8.9

11.6

    Other Revenue

1.9

3.0

2.3

2.7

1.5

Non-Interest Income, Bank

26.4

25.5

22.9

23.4

24.7

    Labor & Related Expenses

-7.3

-7.5

-5.0

-7.1

-6.6

    Depreciation Expense

-0.9

-0.9

-0.8

-0.9

-0.8

    Other Expense

-7.8

-7.2

-6.7

-5.6

-6.8

Non-Interest Expense, Bank

-16.0

-15.7

-12.5

-13.7

-14.1

Income Before Tax

19.0

22.6

18.9

30.8

22.7

 

 

 

 

 

 

Total Income Tax

6.8

8.8

10.7

12.1

10.9

Income After Tax

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Net Income Before Extraord Items

12.2

13.9

8.2

18.7

11.9

Net Income

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

776.6

781.5

779.8

527.7

527.7

Basic EPS Excl Extraord Items

0.02

0.02

0.01

0.04

0.02

Basic/Primary EPS Incl Extraord Items

0.02

0.02

0.01

0.04

0.02

Diluted Net Income

12.2

13.9

8.2

18.7

11.9

Diluted Weighted Average Shares

776.6

781.5

779.8

527.7

527.7

Diluted EPS Excl Extraord Items

0.02

0.02

0.01

0.04

0.02

Diluted EPS Incl Extraord Items

0.02

0.02

0.01

0.04

0.02

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.01

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

32.8

0.0

Depreciation, Supplemental

0.9

0.9

0.8

0.9

0.8

Normalized Income Before Tax

19.0

22.6

18.9

30.8

22.7

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

6.8

8.8

10.7

12.1

10.9

Normalized Income After Tax

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.02

0.01

0.04

0.02

Diluted Normalized EPS

0.02

0.02

0.01

0.04

0.02

Rental Expenses

1.3

1.4

1.1

1.4

0.7

Bank Total Revenue

84.1

84.6

76.3

76.3

68.6

    Current Tax - Domestic

6.8

-

7.9

-

9.4

Current Tax - Total

6.8

-

7.9

-

9.4

    Deferred Tax - Domestic

-

-

2.8

-

1.4

Deferred Tax - Total

-

-

2.8

-

1.4

Income Tax - Total

6.8

-

10.7

-

10.9

 

 

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

Syful Shamsul Alam & Co

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Cash & Due from Banks

155.7

160.1

134.1

112.8

75.8

    Other Short Term Investments

40.2

13.2

33.3

8.7

2.5

    Total Investment Securities

274.8

274.6

302.0

173.8

132.6

Other Earning Assets, Total

315.0

287.8

335.3

182.6

135.1

    Total Gross Loans

1,715.9

1,321.9

1,120.9

845.9

662.5

    Loan Loss Allowances

-29.7

-23.2

-23.8

-15.2

-11.0

Net Loans

1,686.2

1,298.7

1,097.1

830.7

651.5

        Buildings

1.7

0.9

0.4

0.2

0.1

        Land/Improvements

7.7

7.7

7.4

0.9

0.7

        Machinery/Equipment

23.2

20.4

16.8

11.7

8.9

        Construction in Progress

-

-

-

-

0.0

        Other Property/Plant/Equipment

0.8

0.1

0.1

1.8

0.0

    Property/Plant/Equipment - Gross

33.4

29.1

24.7

14.6

9.8

    Accumulated Depreciation

-11.0

-8.8

-6.8

-5.1

-3.8

Property/Plant/Equipment - Net

22.4

20.3

17.9

9.5

6.0

    Intangibles - Gross

3.0

2.9

2.3

-

-

    Accumulated Intangible Amortization

-0.7

-0.4

-0.2

-

-

Intangibles, Net

2.3

2.5

2.1

-

-

    Other Assets

25.2

35.2

17.2

9.1

13.1

Other Assets, Total

25.2

35.2

17.2

9.1

13.1

Total Assets

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    Interest Bearing Deposits

1,500.0

1,294.0

1,252.5

850.7

669.9

    Other Deposits

310.2

230.0

173.1

152.7

119.6

Total Deposits

1,810.2

1,524.1

1,425.6

1,003.4

789.5

Total Short Term Borrowings

34.6

23.2

18.0

16.5

7.6

    Income Taxes Payable

-

-

-

-

6.1

Other Current liabilities, Total

-

-

-

-

6.1

    Capital Lease Obligations

-

-

-

-

0.0

Total Long Term Debt

0.0

0.0

0.0

0.0

0.0

Total Debt

34.6

23.2

18.0

16.5

7.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

-

-

-

-

2.5

Deferred Income Tax

-

-

-

-

2.5

Minority Interest

0.0

0.0

-

-

-

    Pension Benefits - Underfunded

-

-

-

-

1.0

    Other Liabilities

114.3

87.0

62.8

49.1

18.9

Other Liabilities, Total

114.3

87.0

62.8

49.1

19.9

Total Liabilities

1,959.1

1,634.2

1,506.4

1,068.9

825.7

 

 

 

 

 

 

    Common Stock

82.0

51.3

41.3

32.7

25.3

Common Stock

82.0

51.3

41.3

32.7

25.3

Additional Paid-In Capital

31.8

0.0

-

-

-

Retained Earnings (Accumulated Deficit)

110.3

80.2

49.8

42.8

30.5

Unrealized Gain (Loss)

23.7

38.8

6.3

0.2

0.0

    Translation Adjustment

0.0

0.0

0.0

0.0

-

Other Equity, Total

0.0

0.0

0.0

0.0

-

Total Equity

247.8

170.3

97.3

75.7

55.8

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Total Common Shares Outstanding

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Employees

2,139

1,844

1,551

1,400

1,172

Number of Common Shareholders

-

-

9,180

7,368

5,262

Accumulated Intangible Amort, Suppl.

0.7

0.4

0.2

-

-

Total Risk-Weighted Capital

2.6

0.0

1.0

0.8

0.6

Tier 1 Capital %

8.60%

10.95%

8.67%

9.50%

8.71%

Total Capital %

11.69%

14.71%

10.88%

11.50%

9.95%

    Interest Costs

-0.1

-0.1

0.0

0.0

0.0

Total Capital Leases, Supplemental

0.3

0.4

0.0

0.0

0.0

Capital Lease Payments Due in Year 1

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 2

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 3

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 4

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 5

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in 2-3 Years

0.1

0.2

0.0

0.0

0.0

Capital Lease Payments Due in 4-5 Years

0.1

0.2

0.0

0.0

0.0

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

75.225

74.22

72.525

70.475

69.425

 

 

 

 

 

 

Cash & Due from Banks

200.8

248.6

152.4

155.7

159.9

    Other Short Term Investments

40.4

43.1

44.0

40.2

10.6

    Total Investment Securities

506.2

372.9

303.7

274.8

372.9

Other Earning Assets, Total

546.6

416.0

347.7

315.0

383.5

    Total Gross Loans

1,678.6

1,725.3

1,699.7

1,686.2

1,496.8

Net Loans

1,678.6

1,725.3

1,699.7

1,686.2

1,496.8

Property/Plant/Equipment - Net

51.3

50.7

22.5

24.7

26.9

    Other Assets

32.7

27.9

49.3

25.2

33.0

Other Assets, Total

32.7

27.9

49.3

25.2

33.0

Total Assets

2,510.0

2,468.4

2,271.6

2,206.9

2,100.1

 

 

 

 

 

 

    Interest Bearing Deposits

1,730.9

1,644.4

1,522.7

1,426.0

1,418.7

    Other Deposits

295.7

310.3

277.1

310.2

283.5

Total Deposits

2,026.6

1,954.7

1,799.8

1,736.2

1,702.2

Total Short Term Borrowings

98.2

139.1

116.0

108.6

64.6

    Long Term Debt

-

-

-

-

36.0

Total Long Term Debt

0.0

0.0

0.0

0.0

36.0

Total Debt

98.2

139.1

116.0

108.6

100.6

 

 

 

 

 

 

Minority Interest

0.0

0.0

0.0

0.0

0.0

    Other Liabilities

128.8

123.9

111.1

114.3

104.5

Other Liabilities, Total

128.8

123.9

111.1

114.3

104.5

Total Liabilities

2,253.5

2,217.7

2,027.0

1,959.1

1,907.2

 

 

 

 

 

 

    Common Stock

103.7

105.1

107.5

82.0

66.6

Common Stock

103.7

105.1

107.5

82.0

66.6

Additional Paid-In Capital

29.8

30.2

30.9

31.8

-

Retained Earnings (Accumulated Deficit)

106.1

95.2

83.4

110.3

93.0

Unrealized Gain (Loss)

17.0

20.2

22.8

23.7

33.3

    Translation Adjustment

0.0

0.0

0.0

0.0

0.0

Other Equity, Total

0.0

0.0

0.0

0.0

0.0

Total Equity

256.5

250.7

244.6

247.8

192.9

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

2,510.0

2,468.4

2,271.6

2,206.9

2,100.1

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

779.8

779.8

779.8

5,776.4

5,776.4

Total Common Shares Outstanding

779.8

779.8

779.8

5,776.4

5,776.4

Employees

-

2,293

-

2,139

-

 

 

Annual Cash Flows

Standardized

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Cash Receipts

186.6

170.1

140.2

102.8

81.7

Cash Payments

-97.5

-102.2

-80.6

-76.5

-53.8

    Other Assets

-32.6

-88.0

-128.6

-55.1

-36.1

    Other Liabilities

293.8

136.2

385.3

243.6

264.2

    Other Assets & Liabilities, Net

11.9

5.3

1.4

8.9

-2.0

    Other Operating Cash Flow

0.0

13.0

-2.4

-4.9

-5.1

    Investment Securities, Gains/Losses

-3.4

97.1

-16.1

-17.4

-16.9

    Loans, Gains/Losses

-415.1

-207.8

-259.8

-185.5

-190.4

Changes in Working Capital

-145.3

-44.2

-20.2

-10.4

13.7

Cash from Operating Activities

-56.2

23.7

39.5

15.9

41.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-5.0

-5.0

-7.9

-4.9

-1.5

Capital Expenditures

-5.0

-5.0

-7.9

-4.9

-1.5

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Investment, Net

-19.9

9.5

-8.9

-6.2

-0.9

    Loans

-0.1

-0.1

0.0

0.0

0.0

    Other Investing Cash Flow

0.1

0.1

0.1

0.1

0.1

Other Investing Cash Flow Items, Total

-19.9

9.5

-8.9

-6.2

-0.8

Cash from Investing Activities

-24.9

4.5

-16.8

-11.1

-2.3

 

 

 

 

 

 

    Cash Dividends Paid - Common

-5.1

0.0

-3.3

0.0

0.0

Total Cash Dividends Paid

-5.1

0.0

-3.3

0.0

0.0

        Sale/Issuance of Common

48.8

0.0

-

-

-

    Common Stock, Net

48.8

0.0

-

-

-

Issuance (Retirement) of Stock, Net

48.8

0.0

-

-

-

        Long Term Debt Issued

35.9

0.0

-

-

-

    Long Term Debt, Net

35.9

0.0

-

-

-

Issuance (Retirement) of Debt, Net

35.9

0.0

-

-

-

Cash from Financing Activities

79.6

0.0

-3.3

0.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-0.2

0.0

0.0

0.0

0.0

Net Change in Cash

-1.6

28.3

19.4

4.9

39.3

 

 

 

 

 

 

Net Cash - Beginning Balance

159.3

132.4

113.9

108.5

69.4

Net Cash - Ending Balance

157.7

160.6

133.2

113.4

108.7

 

 

 

Interim Cash Flows

 

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

9 Months

6 Months

3 Months

12 Months

9 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

73.031727

72.291257

71.32044

69.60265

69.331145

 

 

 

 

 

 

Cash Receipts

164.7

107.2

41.2

186.6

150.6

Cash Payments

-96.6

-58.3

-16.1

-97.5

-82.6

    Other Assets

-133.8

-72.8

-12.0

-32.6

-42.9

    Other Liabilities

443.6

345.9

144.1

293.8

250.9

    Other Assets & Liabilities, Net

0.5

-3.3

-2.1

11.9

2.7

    Other Operating Cash Flow

-13.2

-10.6

-4.8

0.0

-11.4

    Investment Securities, Gains/Losses

-100.2

-27.3

-3.3

-3.4

-25.2

    Loans, Gains/Losses

-155.3

-138.1

-110.0

-415.1

-211.5

Changes in Working Capital

41.7

93.6

11.9

-145.3

-37.4

Cash from Operating Activities

109.7

142.5

36.9

-56.2

30.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-31.1

-29.2

-26.4

-5.0

-6.1

Capital Expenditures

-31.1

-29.2

-26.4

-5.0

-6.1

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Sale/Maturity of Investment

-4.3

-

-

-

5.4

    Investment, Net

-

-5.8

-5.4

-19.9

0.0

    Loans

-0.1

0.0

0.0

-0.1

0.0

    Other Investing Cash Flow

0.0

0.0

0.0

0.1

0.0

Other Investing Cash Flow Items, Total

-4.4

-5.8

-5.5

-19.9

5.4

Cash from Investing Activities

-35.4

-35.1

-31.8

-24.9

-0.7

 

 

 

 

 

 

    Cash Dividends Paid - Common

-4.0

-4.0

-4.0

-5.1

-5.1

Total Cash Dividends Paid

-4.0

-4.0

-4.0

-5.1

-5.1

        Sale/Issuance of Common

0.0

0.0

0.0

48.8

0.0

    Common Stock, Net

0.0

0.0

0.0

48.8

0.0

Issuance (Retirement) of Stock, Net

0.0

0.0

0.0

48.8

0.0

        Long Term Debt Issued

0.0

0.0

-

35.9

0.0

    Long Term Debt, Net

0.0

0.0

-

35.9

0.0

Issuance (Retirement) of Debt, Net

0.0

0.0

-

35.9

0.0

Cash from Financing Activities

-4.0

-4.0

-4.0

79.6

-5.1

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

0.0

-0.2

0.0

Net Change in Cash

70.3

103.4

1.1

-1.6

24.8

 

 

 

 

 

 

Net Cash - Beginning Balance

150.3

151.8

153.9

159.3

159.9

Net Cash - Ending Balance

220.6

255.3

155.0

157.7

184.7

 

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Interest / investment income

162.8

137.0

116.2

89.8

65.7

    Interest income from credit card

1.7

1.4

0.8

0.6

0.6

    Hire purchase

7.8

8.2

7.6

6.2

4.9

    Lease finance /Izara

10.1

11.0

8.1

7.5

4.4

Total Revenue

182.4

157.6

132.8

104.1

75.6

 

 

 

 

 

 

    Interest / profit paid on deposits and b

115.6

122.1

104.0

76.5

53.8

    Specific Provison

1.7

3.4

16.3

5.1

3.1

    General Provision

1.7

3.8

2.1

5.1

2.6

    Provision for Dimunation in Value of Inv

3.9

1.6

1.7

3.0

0.0

    Provision for Off-Shore Banking Units

0.4

0.2

0.1

0.0

-

    Provision for diminution in value of inv

0.2

0.0

0.0

-

-

    Other provisions

0.0

1.1

0.0

-

-

Total Operating Expense

123.5

132.2

124.1

89.7

59.5

 

 

 

 

 

 

    Investment income

39.0

48.9

25.4

18.8

6.1

    Commission, exchange and brokerage

39.1

26.0

21.4

17.6

14.6

    Other operating income

10.2

9.4

9.2

6.1

4.6

    Salaries and allowances

-24.7

-18.5

-13.3

-10.7

-8.2

    Rent, taxes, insurance, electricity etc.

-4.6

-4.1

-3.0

-2.3

-1.7

    Legal expenses

-0.3

-0.4

-0.2

-0.4

-0.1

    Postage, stamps, telecommunication etc.

-1.8

-1.4

-1.2

-0.9

-0.7

    Stationery, printing

-3.3

-3.7

-1.4

-1.8

-0.9

    Managing Director's salary and fees

-0.1

-0.1

-0.1

-0.1

-0.1

    Directors' fees

-0.1

0.0

0.0

0.0

0.0

    Auditors Fee

0.0

0.0

0.0

0.0

0.0

    Charges on loan losses

-

-

-

0.0

0.0

    Depreciation

-3.2

-2.7

-2.2

-1.5

-1.1

    Other Expenses

-16.1

-11.5

-7.1

-5.1

-3.4

Total Non-Interest Revenue

88.3

84.2

56.0

42.5

25.2

 

 

 

 

 

 

Total Non-Interest Expense

-54.2

-42.5

-28.5

-22.9

-16.1

 

 

 

 

 

 

Net Income Before Taxes

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Provision for Income Taxes

40.6

26.2

18.0

13.7

10.0

Net Income After Taxes

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Net Income Before Extra. Items

52.3

40.9

18.2

20.3

15.2

Net Income

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Basic EPS Excluding ExtraOrdinary Items

0.10

0.08

0.04

0.04

0.03

Basic EPS Including ExtraOrdinary Items

0.10

0.08

0.04

0.04

0.03

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

52.3

40.9

18.2

20.3

15.2

Diluted Weighted Average Shares

527.7

512.1

512.1

512.1

512.1

Diluted EPS Excluding ExtraOrd Items

0.10

0.08

0.04

0.04

0.03

Diluted EPS Including ExtraOrd Items

0.10

0.08

0.04

0.04

0.03

DPS-Common Stock

0.01

0.01

0.00

0.00

0.00

Gross Dividends - Common Stock

33.2

-

0.0

0.0

0.0

Normalized Income Before Taxes

93.0

67.1

36.2

34.1

25.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

40.6

26.2

18.0

13.7

10.0

Normalized Income After Taxes

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Normalized Inc. Avail to Com.

52.3

40.9

18.2

20.3

15.2

 

 

 

 

 

 

Basic Normalized EPS

0.10

0.08

0.04

0.04

0.03

Diluted Normalized EPS

0.10

0.08

0.04

0.04

0.03

Depreciation, Supplemental

3.2

2.7

2.2

1.5

1.1

Rental Expense, Supplemental

4.6

4.1

3.0

2.3

1.7

    Current Tax

37.1

25.1

14.8

14.7

8.6

Current Tax - Total

37.1

25.1

14.8

14.7

8.6

    Deferred Tax

3.6

1.0

3.2

-1.0

1.4

Deferred Tax - Total

3.6

1.0

3.2

-1.0

1.4

Income Tax - Total

40.6

26.2

18.0

13.7

10.0

Defined Contribution Expense - Domestic

0.8

0.5

0.4

0.3

0.3

Total Pension Expense

0.8

0.5

0.4

0.3

0.3

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

74.501559

73.267903

71.32044

70.399892

69.465054

 

 

 

 

 

 

    Interest / investment income

57.6

59.0

53.3

53.0

43.9

Total Revenue

57.6

59.0

53.3

53.0

43.9

 

 

 

 

 

 

    Interest / profit paid on deposits and b

46.7

43.4

37.5

32.9

27.1

    Specific Provison

0.7

1.0

2.5

-2.6

1.2

    General Provision

0.3

1.4

1.9

2.8

0.4

    Provision for off-balance sheet exposure

0.0

0.0

0.0

3.4

0.1

    Provision for Off-Shore Banking Units

0.2

-0.8

1.8

-5.0

2.9

    Provision for Diminution in Value of Inv

1.3

1.3

1.2

0.2

0.0

    Other Provisions

0.0

-

0.0

0.0

0.0

Total Operating Expense

49.1

46.3

44.9

31.8

31.7

 

 

 

 

 

 

    Investment income

15.1

12.0

9.9

8.9

11.6

    Commission, exchange and brokerage

9.4

10.5

10.7

11.8

11.6

    Other operating income

1.9

3.0

2.3

2.7

1.5

    Salaries and allowances

-7.3

-7.5

-5.0

-7.0

-6.5

    Rent, taxes, insurance, electricity etc.

-1.3

-1.4

-1.1

-1.4

-0.7

    Legal expenses

0.0

0.0

-0.1

-0.2

-0.1

    Postage, stamps, telecommunication etc.

-0.4

-0.5

-0.4

-0.5

-0.4

    Stationery, printing

-0.7

-0.9

-1.0

-0.7

-0.8

    Managing Director's salary and fees

0.0

0.0

0.0

0.0

0.0

    Directors' fees

0.0

0.0

0.0

0.0

0.0

    Auditor Fees

0.0

0.0

0.0

0.0

0.0

    Depreciation

-0.9

-0.9

-0.8

-0.9

-0.8

    Other Expenses

-5.3

-4.3

-4.1

-2.9

-4.8

Total Non-Interest Revenue

26.4

25.5

22.9

23.4

24.7

 

 

 

 

 

 

Total Non-Interest Expense

-16.0

-15.7

-12.5

-13.7

-14.1

 

 

 

 

 

 

Net Income Before Taxes

19.0

22.6

18.9

30.8

22.7

 

 

 

 

 

 

Provision for Income Taxes

6.8

8.8

10.7

12.1

10.9

Net Income After Taxes

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Net Income Before Extra. Items

12.2

13.9

8.2

18.7

11.9

Net Income

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Basic Weighted Average Shares

776.6

781.5

779.8

527.7

527.7

Basic EPS Excluding ExtraOrdinary Items

0.02

0.02

0.01

0.04

0.02

Basic EPS Including ExtraOrdinary Items

0.02

0.02

0.01

0.04

0.02

Diluted Net Income

12.2

13.9

8.2

18.7

11.9

Diluted Weighted Average Shares

776.6

781.5

779.8

527.7

527.7

Diluted EPS Excluding ExtraOrd Items

0.02

0.02

0.01

0.04

0.02

Diluted EPS Including ExtraOrd Items

0.02

0.02

0.01

0.04

0.02

DPS-Common Stock

0.00

0.00

0.00

0.01

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

32.8

0.0

Normalized Income Before Taxes

19.0

22.6

18.9

30.8

22.7

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

6.8

8.8

10.7

12.1

10.9

Normalized Income After Taxes

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

12.2

13.9

8.2

18.7

11.9

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.02

0.01

0.04

0.02

Diluted Normalized EPS

0.02

0.02

0.01

0.04

0.02

Depreciation, Supplemental

0.9

0.9

0.8

0.9

0.8

Rental Expense, Supplemental

1.3

1.4

1.1

1.4

0.7

    Current Tax

6.8

-

7.9

-

9.4

Current Tax - Total

6.8

-

7.9

-

9.4

    Deferred Tax

-

-

2.8

-

1.4

Deferred Tax - Total

-

-

2.8

-

1.4

Income Tax - Total

6.8

-

10.7

-

10.9

 

 

Annual Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

70.475

69.26

68.91

69.555

69.085

Auditor

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash

18.0

13.4

10.9

9.6

6.6

    Balance with Bangladesh Bank and its age

117.9

134.7

93.6

68.4

53.1

    Cash with other banks in Bangladesh

10.3

6.4

6.1

23.4

9.1

    Cash with other banks Outside Bangladesh

9.5

5.6

23.5

11.4

7.0

    Money at call and short notice

0.0

0.0

0.0

0.0

21.6

    Investment Others

40.2

13.2

33.3

8.7

2.5

    Investment Government Securities

-

0.0

97.3

80.5

75.3

    Investment Government Bond

274.8

274.6

204.7

93.3

35.8

    Loans and advances

1,611.0

1,252.6

1,050.0

788.9

608.9

    Bills purchased and discounted

105.0

69.2

71.0

57.0

53.6

    Required provision for loans and advance

-29.7

-23.2

-23.8

-15.2

-11.0

    Other Assets

25.2

35.2

17.2

9.1

13.1

    Land

7.7

7.7

7.4

0.9

0.7

    Building

1.7

0.9

0.4

0.2

0.1

    Furniture & Fixtures

7.8

7.2

6.0

4.8

3.9

    Office renovation

-

-

-

-

0.0

    Office equipment and machinery

11.9

10.2

8.5

6.1

4.4

    Software

-

-

-

1.8

-

    Banks Vehicle

1.4

1.1

0.9

0.8

0.6

    Library Books

0.0

0.0

0.0

0.0

0.0

    Leased vehicles

0.4

0.4

0.0

-

-

    ATM

1.7

1.5

1.4

0.0

-

    Depreciation

-11.0

-8.8

-6.8

-5.1

-3.8

    Intangibles assets

3.0

2.9

2.3

-

-

    Amortization

-0.7

-0.4

-0.2

-

-

    Fixed Assets- Others

0.7

0.0

-

-

-

    Fixed Assets-Prime Exchange Co. Pte. Ltd

0.0

0.0

0.0

0.0

-

    Fixed Assets-Off-shore Banking Unit

0.0

0.0

0.0

0.0

-

Total Assets

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    Borrowings in Bangladesh

74.0

1.2

163.8

5.1

4.2

    Borrowings Outside Bangladesh

-

0.0

1.6

0.5

0.8

    Current deposits and other accounts

310.2

230.0

173.1

152.7

119.6

    Bill Payable

34.6

23.2

18.0

16.5

7.6

    Savings bank /Mudaraba savings deposits

217.1

174.9

98.6

86.7

59.7

    Fixed deposits / Mudaraba fixed deposits

1,208.9

1,117.9

988.5

758.4

605.2

    Provision for income tax

-

-

-

-

6.1

    Provision for gratuity

-

-

-

-

1.0

    Other Liabilities

114.3

87.0

62.8

49.1

18.9

    Obligation under finance lease

-

-

-

-

0.0

Total Long Term Debt

-

-

-

-

0.0

 

 

 

 

 

 

    Deferred tax liability

-

-

-

-

2.5

    Minority Interest

0.0

0.0

-

-

-

Total Liabilities

1,959.1

1,634.2

1,506.4

1,068.9

825.7

 

 

 

 

 

 

    Paid up Capital

82.0

51.3

41.3

32.7

25.3

    Share premium

31.8

0.0

-

-

-

    Statutory reserve

62.3

47.4

34.3

26.9

20.3

    Retained earnings/Movement of Profit and

48.0

32.7

15.5

15.9

10.2

    Revaluation Gain/Loss on Investment

20.2

35.2

2.6

0.2

0.0

    Revaluation Reserves

3.6

3.6

3.7

0.0

-

    Foreign Currency Translation

0.0

0.0

0.0

0.0

-

Total Equity

247.8

170.3

97.3

75.7

55.8

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

2,206.9

1,804.6

1,603.8

1,144.7

881.5

 

 

 

 

 

 

    S/O-Common Stock

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Total Common Shares Outstanding

5,776.4

3,554.7

3,839.1

3,071.3

2,362.5

Accumulated Intangible Amort, Suppl.

0.7

0.4

0.2

-

-

Total Risk-Weighted Capital

2,607.3

1.2

1,048.5

797.7

641.6

Tier 1 Capital %

8.60%

10.95%

8.67%

9.50%

8.71%

Total Capital %

11.69%

14.71%

10.88%

11.50%

9.95%

Number of Common Shareholders

-

-

9,180

7,368

5,262

Full-Time Employees

2,139

1,844

1,551

1,400

1,172

Capital Lease Payments Due within 1 Year

0.1

0.1

0.0

0.0

0.0

Capital Lease Payments Due in Year 5

0.3

0.4

0.0

0.0

0.0

Interest Costs

-0.1

-0.1

0.0

0.0

0.0

Total Capital Leases, Supplemental

0.3

0.4

0.0

0.0

0.0

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate

75.225

74.22

72.525

70.475

69.425

 

 

 

 

 

 

    Cash

18.3

18.4

17.3

18.0

16.8

    Balance with Bangladesh Bank and its age

159.7

198.9

120.2

117.9

129.6

    Cash with other banks in Bangladesh

7.2

9.0

7.6

10.3

11.6

    Cash with other banks Outside Bangladesh

15.7

22.2

7.4

9.5

2.0

    Money at call and short notice

13.3

0.0

0.0

0.0

24.5

    Investment Others

40.4

43.1

44.0

40.2

10.6

    Investment Government Securities

492.9

372.9

303.7

274.8

348.4

    Loans and advances

1,591.6

1,624.0

1,586.0

1,581.3

1,399.2

    Bills purchased and discounted

87.0

101.2

113.7

105.0

97.6

    Other Assets

32.7

27.9

49.3

25.2

33.0

    Fixed Assets

51.3

50.7

22.5

24.7

26.9

Total Assets

2,510.0

2,468.4

2,271.6

2,206.9

2,100.1

 

 

 

 

 

 

    Borrowings

65.2

109.5

84.5

74.0

38.8

    Current deposits and other accounts

295.7

310.3

277.1

310.2

283.5

    Bill Payable

32.9

29.6

31.6

34.6

25.8

    Savings bank /Mudaraba savings deposits

231.5

226.5

212.9

217.1

207.9

    Fixed deposits / Mudaraba fixed deposits

1,499.3

1,417.9

1,309.8

1,208.9

1,210.8

    Other Liabilities

128.8

123.9

111.1

114.3

104.5

    Sub-ordinated Bonds

-

-

-

-

36.0

Total Long Term Debt

-

-

-

-

36.0

 

 

 

 

 

 

    Minority Interest

0.0

0.0

0.0

0.0

0.0

Total Liabilities

2,253.5

2,217.7

2,027.0

1,959.1

1,907.2

 

 

 

 

 

 

    Paid up Capital

103.7

105.1

107.5

82.0

66.6

    Share premium

29.8

30.2

30.9

31.8

-

    Statutory reserve

58.4

59.2

60.6

62.3

47.3

    Retained earnings/Movement of Profit and

47.7

36.1

22.9

48.0

45.7

    Revaluation Gain/Loss on Investment

13.6

16.8

19.3

20.2

29.7

    Revaluation Reserves

3.3

3.4

3.5

3.6

3.6

    Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

Total Equity

256.5

250.7

244.6

247.8

192.9

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

2,510.0

2,468.4

2,271.6

2,206.9

2,100.1

 

 

 

 

 

 

    S/O-Common Stock

779.8

779.8

779.8

5,776.4

5,776.4

Total Common Shares Outstanding

779.8

779.8

779.8

5,776.4

5,776.4

Full-Time Employees

-

2,293

-

2,139

-

 

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

69.60265

69.026932

68.582616

68.868552

68.759046

Auditor

Syful Shamsul Alam & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

S. F. Ahmed & Co

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash Receipts

186.6

170.1

140.2

102.8

81.7

    Cash Payments

-97.5

-102.2

-80.6

-76.5

-53.8

    Dividend

0.2

0.6

0.3

0.1

0.0

    Fee & Commission receipts in Cash

39.1

25.7

21.1

17.4

14.5

    Recoveries of loans previously written o

4.3

0.3

1.2

0.0

0.0

    Cash payments to employees

-15.3

-13.7

-11.0

-10.7

-8.7

    Cash payments to suppliers

-7.8

-5.5

-4.5

-4.2

-2.5

    Receipts from other operating activities

22.0

30.6

11.0

6.3

4.6

    Payments for other operating activities

-16.6

-10.1

-6.8

-6.9

-4.4

    Cash Taxes Paid

-25.8

-14.9

-13.7

-6.9

-8.6

    Purchase of trading securities (Treasury

-3.4

97.1

-16.1

-17.4

-16.9

    Loans and advances to customers

-415.1

-207.8

-259.8

-185.5

-190.4

    Other assets

-32.6

-88.0

-128.6

-55.1

-36.1

    Deposits from other banks/borrowings

97.1

-163.9

163.9

1.9

-7.1

    Deposits from customers

257.7

269.8

245.0

220.8

273.9

    Other liabilities account of customers

11.9

5.3

1.4

8.9

-2.0

    Other Liabilities

-60.9

30.2

-23.6

20.9

-2.6

Cash from Operating Activities

-56.2

23.7

39.5

15.9

41.6

 

 

 

 

 

 

    Debentures

0.1

0.1

0.1

0.1

0.1

    Payments for purchases of securities

-19.9

9.5

-8.9

-6.2

-0.9

    Purchase/sale of property, plant and equ

-5.0

-5.0

-7.9

-4.9

-1.5

    Payment against lease obligation

-0.1

-0.1

0.0

0.0

0.0

    Proceeds from sale of property, plant &

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

-24.9

4.5

-16.8

-11.1

-2.3

 

 

 

 

 

 

    Receipts from issue of sub-ordinated bon

35.9

0.0

-

-

-

    Receipts from issue of ordinary share in

48.8

0.0

-

-

-

    Dividend Paid

-5.1

0.0

-3.3

0.0

0.0

Cash from Financing Activities

79.6

0.0

-3.3

0.0

0.0

 

 

 

 

 

 

Foreign Exchange Effects

-0.2

0.0

0.0

0.0

0.0

Net Change in Cash

-1.6

28.3

19.4

4.9

39.3

 

 

 

 

 

 

Cash Beginning of the Period

159.3

132.4

113.9

108.5

69.4

Cash End of the Period

157.7

160.6

133.2

113.4

108.7

 

 

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Sep-2011

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

Period Length

9 Months

6 Months

3 Months

12 Months

9 Months

UpdateType/Date

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Filed Currency

BDT

BDT

BDT

BDT

BDT

Exchange Rate (Period Average)

73.031727

72.291257

71.32044

69.60265

69.331145

 

 

 

 

 

 

    Cash Receipts

164.7

107.2

41.2

186.6

150.6

    Cash Payments

-96.6

-58.3

-16.1

-97.5

-82.6

    Dividend

0.2

0.2

0.1

0.2

0.5

    Fee & Commission receipts in Cash

30.6

21.2

10.7

39.1

26.9

    Recoveries of loans previously written o

0.4

0.4

0.0

4.3

3.7

    Cash payments to employees

-15.1

-9.5

-4.8

-15.3

-17.8

    Cash payments to suppliers

-5.4

-3.8

-1.9

-7.8

-4.9

    Receipts from other operating activities

17.9

10.3

3.9

22.0

16.3

    Payments for other operating activities

-14.8

-9.0

-4.3

-16.6

-15.7

    Cash Taxes Paid

-27.1

-20.4

-8.6

-25.8

-20.3

    Purchase of trading securities (Treasury

-100.2

-27.3

-3.3

-3.4

-25.2

    Loans and advances to customers

-155.3

-138.1

-110.0

-415.1

-211.5

    Other assets

-133.8

-72.8

-12.0

-32.6

-42.9

    Deposits from other banks/borrowings

6.0

50.3

13.0

97.1

37.6

    Deposits from customers

410.9

313.5

114.4

257.7

183.2

    Other liabilities account of customers

0.5

-3.3

-2.1

11.9

2.7

    Other Liabilities

26.7

-17.9

16.7

-60.9

30.1

Cash from Operating Activities

109.7

142.5

36.9

-56.2

30.6

 

 

 

 

 

 

    Debentures

0.0

0.0

0.0

0.1

0.0

    Proceeds from Sale of Securities

-4.3

-

-

-

5.4

    Payments for purchases of securities

-

-5.8

-5.4

-19.9

0.0

    Purchase/sale of property, plant and equ

-31.1

-29.2

-26.4

-5.0

-6.1

    Payment against lease obligation

-0.1

0.0

0.0

-0.1

0.0

    Proceeds from sale of property, plant &

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

-35.4

-35.1

-31.8

-24.9

-0.7

 

 

 

 

 

 

    Receipts from issue of sub-ordinated bon

0.0

0.0

-

35.9

0.0

    Receipts from issue of ordinary share in

0.0

0.0

0.0

48.8

0.0

    Dividend Paid

-4.0

-4.0

-4.0

-5.1

-5.1

Cash from Financing Activities

-4.0

-4.0

-4.0

79.6

-5.1

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

0.0

-0.2

0.0

Net Change in Cash

70.3

103.4

1.1

-1.6

24.8

 

 

 

 

 

 

Cash Beginning of the Period

150.3

151.8

153.9

159.3

159.9

Cash End of the Period

220.6

255.3

155.0

157.7

184.7

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual             

           

          

 

Income Before Tax   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Bangladesh

91.6

98.5 %

66.5

99.1 %

36.1

99.7 %

34.1

100 %

25.3

100.3 %

Singapore

0.1

0.1 %

-

-

0.1

0.3 %

0.0

0 %

-0.1

-0.3 %

Off-shore Banking

1.4

1.5 %

0.4

0.6 %

-

-

-

-

-

-

Prime Exchange Co. Ltd

-0.1

-0.1 %

0.1

0.2 %

-

-

-

-

-

-

Segment Total

93.0

100 %

67.1

100 %

36.2

100 %

34.1

100 %

25.3

100 %

Consolidated Total

93.0

100 %

67.1

100 %

36.2

100 %

34.1

100 %

25.3

100 %

Exchange Rate: BDT to USD

69.602650

 

69.026932

 

68.582616

 

68.868552

 

68.759046

 

Total Income Tax   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Bangladesh

40.6

100 %

26.1

100 %

18.0

100 %

13.7

100 %

10.0

100 %

Singapore

0.0

0 %

-

-

0.0

0 %

0.0

0 %

0.0

0 %

Off-shore Banking

0.0

0 %

0.0

0 %

-

-

-

-

-

-

Prime Exchange Co. Ltd

0.0

0 %

0.0

0 %

-

-

-

-

-

-

Segment Total

40.6

100 %

26.2

100 %

18.0

100 %

13.7

100 %

10.0

100 %

Consolidated Total

40.6

100 %

26.2

100 %

18.0

100 %

13.7

100 %

10.0

100 %

Exchange Rate: BDT to USD

69.602650

 

69.026932

 

68.582616

 

68.868552

 

68.759046

 

 

Income After Tax   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Bangladesh

51.0

97.4 %

40.3

98.6 %

18.1

99.4 %

20.3

100.1 %

15.3

100.4 %

Singapore

0.1

0.1 %

-

-

0.1

0.6 %

0.0

-0.1 %

-0.1

-0.4 %

Off-shore Banking

1.4

2.7 %

0.4

1.1 %

-

-

-

-

-

-

Prime Exchange Co. Ltd

-0.1

-0.3 %

0.1

0.3 %

-

-

-

-

-

-

Segment Total

52.3

100 %

40.9

100 %

18.2

100 %

20.3

100 %

15.2

100 %

Consolidated Total

52.3

100 %

40.9

100 %

18.2

100 %

20.3

100 %

15.2

100 %

Exchange Rate: BDT to USD

69.602650

 

69.026932

 

68.582616

 

68.868552

 

68.759046

 

Total Assets   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Bangladesh

2,132.0

96.6 %

1,792.8

99.3 %

1,603.5

100 %

1,144.6

100 %

881.4

100 %

Singapore

0.5

0 %

-

-

0.3

0 %

0.1

0 %

0.1

0 %

Off-shore Banking

73.8

3.3 %

11.4

0.6 %

-

-

-

-

-

-

Prime Exchange Co. Ltd

0.5

0 %

0.4

0 %

-

-

-

-

-

-

Segment Total

2,206.9

100 %

1,804.6

100 %

1,603.8

100 %

1,144.7

100 %

881.5

100 %

Consolidated Total

2,206.9

100 %

1,804.6

100 %

1,603.8

100 %

1,144.7

100 %

881.5

100 %

Exchange Rate: BDT to USD

70.475000

 

69.260000

 

68.910000

 

69.555000

 

69.085000

 

 

Total Liabilities   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Bangladesh

2,132.0

96.6 %

1,792.8

99.3 %

1,603.5

100 %

1,144.6

100 %

881.4

100 %

Singapore

0.5

0 %

-

-

0.3

0 %

0.1

0 %

0.1

0 %

Off-shore Banking

73.8

3.3 %

11.4

0.6 %

-

-

-

-

-

-

Prime Exchange Co. Ltd

0.5

0 %

0.4

0 %

-

-

-

-

-

-

Segment Total

2,206.9

100 %

1,804.6

100 %

1,603.8

100 %

1,144.7

100 %

881.5

100 %

Consolidated Total

2,206.9

100 %

1,804.6

100 %

1,603.8

100 %

1,144.7

100 %

881.5

100 %

Exchange Rate: BDT to USD

70.475000

 

69.260000

 

68.910000

 

69.555000

 

69.085000

 

 

 

Business Segments

 

Financials in: As Reported (mil)

Annual            

 

 

 

Income Before Tax   USD (mil)

 

31-Dec-10

31-Dec-09

Conventional

70.3

75.6 %

44.8

67.3 %

Islamic

10.7

11.5 %

8.7

13 %

Investment Bank

12.1

13 %

13.0

19.6 %

Remittance

-0.1

-0.1 %

-

-

Segment Total

93.0

100 %

66.5

100 %

Consolidated Total

93.0

100 %

66.5

100 %

Exchange Rate: BDT to USD

69.602650

 

69.026932

 

Total Assets   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Conventional

1,934.1

87.6 %

1,524.6

84.6 %

1,391.0

86.8 %

997.8

87.2 %

774.9

87.9 %

Islamic

173.2

7.8 %

185.9

10.3 %

139.6

8.7 %

117.6

10.3 %

106.6

12.1 %

Investment Bank

98.5

4.5 %

91.4

5.1 %

72.1

4.5 %

28.9

2.5 %

-

-

Remittance

1.0

0 %

-

-

-

-

-

-

-

-

Segment Total

2,206.9

100 %

1,802.0

100 %

1,602.6

100 %

1,144.3

100 %

881.5

100 %

Consolidated Total

2,206.9

100 %

1,802.0

100 %

1,602.6

100 %

1,144.3

100 %

881.5

100 %

Exchange Rate: BDT to USD

70.475000

 

69.260000

 

68.910000

 

69.555000

 

69.085000

 

 

Total Liabilities   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

31-Dec-06

Conventional

1,934.1

87.6 %

1,524.6

84.6 %

1,391.0

86.8 %

997.8

87.2 %

774.9

87.9 %

Islamic

173.2

7.8 %

185.9

10.3 %

139.6

8.7 %

117.6

10.3 %

106.6

12.1 %

Investment Bank

98.5

4.5 %

91.4

5.1 %

72.1

4.5 %

28.9

2.5 %

-

-

Remittance

1.0

0 %

-

-

-

-

-

-

-

-

Segment Total

2,206.9

100 %

1,802.0

100 %

1,602.6

100 %

1,144.3

100 %

881.5

100 %

Consolidated Total

2,206.9

100 %

1,802.0

100 %

1,602.6

100 %

1,144.3

100 %

881.5

100 %

Exchange Rate: BDT to USD

70.475000

 

69.260000

 

68.910000

 

69.555000

 

69.085000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.57

UK Pound

1

Rs.79.57

Euro

1

Rs.66.50

 

 

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.