|
Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
MILITARY COMMERCIAL JOINT STOCK BANK |
|
|
|
|
Registered Office : |
No.3 Lieu Giai, Ba Dinh District, Ha |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
30.09.1994 |
|
|
|
|
Com. Reg. No.: |
0100283873 |
|
|
|
|
Legal Form : |
Banking |
|
|
|
|
Line of Business : |
Consumer banking; account, saving, card products and services,
consumer loans, consumer banking for enterprises |
|
|
|
|
No. of Employees : |
5098 |
RATING & COMMENTS
|
MIRA’s Rating : |
|
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT IDENTIFICATION &
LEGAL FORM
|
||
|
|
||
|
Current legal status |
||
|
English Name |
|
MILITARY COMMERCIAL JOINT STOCK BANK |
|
Vietnamese Name |
|
NGAN HANG TMCP QUAN DOI |
|
Trade name |
|
MB BANK |
|
Short name |
|
MB BANK |
|
Type of Business |
|
Banking |
|
Year Established |
|
1994 |
|
Establishment Decision |
|
0054/NH-GP |
|
Date of Issuance |
|
14 Sep 1994 |
|
Place of Issuance |
|
The Governor of the State Bank of |
|
Business Registration No. |
|
0100283873 |
|
First Date of Registration |
|
30th September 1994 |
|
Place of Registration |
|
Planning and Investment Department of Ha |
|
Current registered capital |
|
VND 7,300,000,000,000 |
|
Status |
|
Listed |
|
Stock symbol |
|
MBB |
|
Stock Market |
|
HNX |
|
Tax code |
|
0100283873 |
|
Total Employees |
|
5,098 |
|
Size |
|
Large |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Total Employees: 4079 (in the late year 2010)
Changed to: 5098 |
31 Dec 2011 |
|
2 |
Subject has got former Board Of Director: Chairman Mr. Truong Quang
Khanh Changed to: Mr. Le Duc Huu |
28 Apr 2011 |
|
3 |
Subject has got former Business Registration No: 060297 issued on 30th
September 1994 Changed to: 0100283873 |
N/A |
|
|
||
ADDRESSES
|
||
|
|
||
|
Head Office |
||
|
Address |
|
No.3 Lieu Giai, Ba Dinh District, Ha |
|
Telephone |
|
(84-4) 62661088 |
|
Fax |
|
(84-4) 62661080 |
|
Email |
|
|
|
Website |
|
|
|
|
||
SUBSIDIARIES AND RELATED
COMPANIES
|
||
|
|
||
|
1. MILITARY COMMERCIAL
JOINT STOCK BANK TRAN DUY HUNG BRANCH |
||
|
Business Registration |
|
0100283873-036 |
|
Date of Registration |
|
02 Oct 2008 |
|
Place of Registration |
|
Planning and Investment Department of |
|
Tax code |
|
0100283873-036 |
|
Address |
|
Floor 1 - 17T2 Building Trung Hoa-Nhan Chinh Urban Area - Trung Hoa
Ward, Cau Giay District, Ha |
|
Tel |
|
(84-4) 62812 956 |
|
Fax |
|
(84-4) 62812 955 |
|
Website |
|
|
|
|
||
|
2. THANG LONG
SECURITIES JOINT STOCK COMPANY |
||
|
Business Registration |
|
0104000003 |
|
Address |
|
Flr.6, Toserco building, No.273 Kim Ma, Ba Dinh District, Ha Noi City,
Vietnam |
|
Tel |
|
(84-4) 3733 7671 |
|
Fax |
|
(84-4) 3733 7670 |
|
|
||
|
3. HANOI FUND
MANAGEMENT JOINT STOCK COMPANY |
||
|
Business Registration |
|
0104000473 |
|
Address |
|
Flr.6, Toserco building, No.273 Kim Ma, Ba Dinh District, Ha Noi City,
Vietnam |
|
Tel |
|
(84-4) 3726 2808 |
|
Fax |
|
(84-4) 3726 2810 |
|
|
||
|
4. MILITARY BANK
ASSETS MANAGEMENT COMPANY LIMITED |
||
|
Business Registration |
|
0104000066 |
|
Date of Registration |
|
11 Sep 2002 |
|
Place of Registration |
|
Hanoi Department of Planning and Investment |
|
Address |
|
208 Hoang Ngan Str, Cau Giay District, Ha |
|
Tel |
|
(84-4) 35569210 |
|
Fax |
|
(84-4) 35569211 |
|
|
||
|
5. MB LAND JOINT
STOCK COMPANY |
||
|
Business Registration |
|
0103022148 |
|
Address |
|
8 Chua Boc Str, Dong Da District, Ha |
|
Tel |
|
(84-4) 35738178 |
|
Fax |
|
(84-4) 35738133 |
|
|
||
DIRECTORS
|
||
|
|
||
|
1. NAME |
|
Mr. LE DUC HUU |
|
Position |
|
Chairman of Board of Directors |
|
ID Number/Passport |
|
013028063 |
|
|
|
Hanoi Police Station |
|
Nationality |
|
Vietnamese |
|
Note: He has replaced Mr. Truong Quang Khanh since 28th April
2011. The given name (Mr. Le Van Be) is vice chairman of the subject. |
||
|
2. NAME |
|
Mr. LE CONG |
|
Position |
|
General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
3. NAME |
|
Mr. DANG QUOC
TIEN |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
4. NAME |
|
Ms. CAO THI THUY
NGA |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
5. NAME |
|
Ms. VU THI HAI
PHUONG |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
6. NAME |
|
Mr. LUU TRUNG
THAI |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
7. NAME |
|
Ms. NGUYEN THI
AN BINH |
|
Position |
|
Deputy General Director |
|
Current resident |
|
Ha |
|
Nationality |
|
Vietnamese |
|
|
||
|
8. NAME |
|
Ms. NGUYEN MINH
CHAU |
|
Position |
|
Deputy General Director |
|
Current resident |
|
Ha |
|
Nationality |
|
Vietnamese |
|
|
||
|
9. NAME |
|
Ms. LE THI LOI |
|
Position |
|
Financial Director |
|
Current resident |
|
Ha |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS NATURE AND ACTIVITIES
|
|
|
|
The subject focuses on the following
banking activities: |
|
|
IMPORT & EXPORT ACTIVITIES
|
|
|
|
IMPORT: The subject does not import. |
|
|
|
EXPORT: The subject
does not export. |
|
|
||
BANKERS
|
||
|
|
||
|
1. THE STATE
BANK OF |
||
|
Address |
|
No. 46 Ly Thai To Street, Hoan Kiem District, Ha |
|
Telephone |
|
(84-4) 39 343 327 |
|
Fax |
|
(84-4) 39 349 569 |
|
|
||
SHAREHOLDERS
|
||
|
Main
shareholders of the subject: |
||
|
1. NAME |
|
JOINT STOCK
COMMERCIAL BANK FOR FOREIGN TRADE OF |
|
Business Registration |
|
0100112437 |
|
Date of Registration |
|
06 Sep 2010 |
|
Place of Registration |
|
Planning and Investment Department of Ha |
|
Registered Capital |
|
VND 23,174,170,760,000 |
|
Tax code |
|
0100112437 |
|
Address |
|
|
|
Tel |
|
(84-4) 3934 3137 / (84-4) 3814 8919 |
|
Fax |
|
(84-4) 3826 9067 / (84-4) 3825 1322 |
|
Number of shares |
|
80,300,000 |
|
Percentage |
|
9.02% |
|
|
||
|
2. NAME |
|
VIETTEL GROUP |
|
Business Registration |
|
0100109106 |
|
Date of Registration |
|
13 Jul 2010 |
|
Place of Registration |
|
Hanoi Department of Planning and Investment |
|
Registered Capital |
|
VND 50,000,000,000,000 |
|
Tax code |
|
0100109106 |
|
Address |
|
No. 1 Giang Van Minh Str, Kim Ma ward, Ba Dinh District, Ha Noi City,
Vietnam |
|
Tel |
|
(84-4) 6255 6789/ 6266 0696/ 6266 0005/ 6251 3888 |
|
Fax |
|
(84-4) 6299 6789 |
|
Number of shares |
|
73,000,000 |
|
Percentage |
|
8.2% |
|
|
||
|
3. NAME |
|
VIETNAM
HELICOPTER CORPORATION |
|
Business Registration |
|
110756 |
|
Address |
|
172 Truong Chinh Str, Dong Da District, Ha |
|
Number of shares |
|
52,882,207 |
|
Percentage |
|
5.94% |
|
|
||
|
4. NAME |
|
MARITIME
COMMERICAL STOCK BANK |
|
Address |
|
No.7-8-9 Floor, VIT Tower No. 519 Kim Ma, Ba Dinh District, Ha Noi
City, Vietnam |
|
Tel |
|
04.3771-8989 |
|
Fax |
|
04.3771-8899 |
|
Number of shares |
|
64,704,764 |
|
Percentage |
|
7.27% |
|
|
||
FINANCIAL DATA
|
|||
|
|
|||
|
BALANCE SHEET |
|||
|
Unit:
Million VND |
|||
|
Balance sheet date |
FY2011
|
FY2010
|
FY2009
|
|
Number
of weeks |
52
|
52
|
52
|
|
ASSETS |
|||
|
Cash and cash
equivalents |
917,417
|
868,771
|
541,132
|
|
Balances with State
Bank of Vietnam |
6,029,093
|
746,006
|
1,427,595
|
|
Placements with
and loans to other banks |
41,666,764
|
33,652,251
|
24,062,971
|
|
Placements with other banks |
41,666,764 |
|
|
|
Loans and advances to other banks |
|
|
|
|
Provision for credit losses of loans to other banks |
|
|
|
|
Trading
securities |
826,196
|
1,689,788
|
618,513
|
|
Trading securities |
1,194,306 |
1,821,189 |
684,106 |
|
Provision for impairment of trading securities |
-368,110 |
-131,401 |
-65,593 |
|
Derivatives and
other financial assets |
|
|
|
|
Loans and
advances to customers |
57,952,297
|
48,058,250
|
29,140,759
|
|
Loans and advances to customers |
59,044,837 |
48,796,587 |
29,587,941 |
|
Provision for credit losses |
-1,092,540 |
-738,337 |
-447,182 |
|
Investment
securities |
19,412,920
|
15,563,524
|
9,674,239
|
|
Available-for-sale securities |
14,868,663 |
5,542,695 |
6,257,726 |
|
Held-to-maturity securities |
5,003,694 |
10,158,967 |
3,647,619 |
|
Provision for impairment of investment securities |
-459,437 |
-138,138 |
-231,106 |
|
Long-term
investments |
1,781,279
|
1,576,913
|
891,469
|
|
Investments in subsidiaries |
|
|
|
|
Investments in joint ventures |
|
|
|
|
Investments in associates |
154,575 |
50,105 |
63,815 |
|
Other long-term investments |
1,732,006 |
1,610,833 |
883,100 |
|
Provision for impairment of long-term investments |
-105,302 |
-84,025 |
-55,446 |
|
Fixed assets |
1,551,407
|
1,223,527
|
623,041
|
|
Tangible fixed assets |
470,820 |
263,357 |
265,133 |
|
Cost |
886,936 |
560,803 |
461,612 |
|
Accumulated depreciation |
-416,116 |
-297,446 |
-196,479 |
|
Financial leases |
|
|
|
|
Cost |
|
|
|
|
Accumulated depreciation |
|
|
|
|
Intangible assets |
1,080,587 |
960,170 |
357,908 |
|
Cost |
1,203,437 |
1,028,745 |
399,204 |
|
Accumulated depreciation |
-122,850 |
-68,575 |
-41,296 |
|
Investment
properties |
147,139
|
130,764
|
355,138
|
|
Cost |
147,139 |
130,865 |
355,408 |
|
Accumulated depreciation |
|
-101 |
-270 |
|
Other assets |
8,546,980
|
6,113,404
|
1,673,431
|
|
Receivables |
5,031,389 |
|
802,234 |
|
Interest and fee receivables |
1,618,384 |
1,513,272 |
609,036 |
|
Deferred income tax assets |
8,493 |
8,494 |
|
|
Other assets |
2,165,074 |
4,680,926 |
263,121 |
|
Provision for other assets |
-276,360 |
-89,288 |
-960 |
|
TOTAL ASSETS |
138,831,492
|
109,623,198
|
69,008,288
|
|
|
|||
|
LIABILITIES |
|||
|
Borrowings from
the Government and the SBV |
|
8,768,803
|
4,708,749
|
|
Deposits and
borrowings from other banks |
26,672,484
|
16,916,652
|
11,696,905
|
|
Deposits from other banks |
|
|
|
|
Operating profit before provision for credit losses |
|
|
|
|
Customer
deposits and other amounts due to customers |
89,548,672
|
65,740,838
|
39,978,447
|
|
Derivatives and
other financial liabilities |
22,637
|
|
|
|
Other borrowed
funds |
201,504
|
117,008
|
474,629
|
|
Valuable papers
issued |
4,531,632
|
5,410,642
|
2,420,537
|
|
Other
liabilities |
7,556,763
|
2,928,142
|
2,233,513
|
|
Interest and fee payables |
1,045,739 |
659,699 |
390,481 |
|
Deferred tax liabilities |
381,138 |
295,493 |
153,238 |
|
Other payables |
5,984,965 |
1,831,892 |
1,486,407 |
|
Provision for off-balance sheet commitments |
144,921 |
141,058 |
203,387 |
|
TOTAL
LIABILITIES |
128,533,692
|
99,882,085
|
61,512,780
|
|
Capital and
Reserves |
9,642,144
|
8,882,349
|
6,888,072
|
|
Capital |
7,547,588 |
7,553,765 |
6,172,886 |
|
Chartered capital |
7,300,000 |
7,300,000 |
5,300,000 |
|
Capital to purchase fixed assets |
|
|
|
|
Share premium |
253,765 |
253,765 |
869,685 |
|
Treasury shares |
|
|
|
|
Preference shares |
|
|
|
|
Others |
-6,177 |
|
3,201 |
|
Reserves |
844,822 |
547,245 |
317,879 |
|
Foreign currency translation reserve |
|
|
|
|
Asset revaluation reserve |
|
|
|
|
Retained earnings |
1,249,734 |
781,339 |
397,307 |
|
TOTAL OWNERS’
EQUITY |
9,642,144
|
8,882,349
|
6,888,072
|
|
Minority
interest |
655,656
|
858,764
|
607,436
|
|
TOTAL
LIABILITIES AND OWNERS’ EQUITY |
138,831,492
|
109,623,198
|
69,008,288
|
|
|
|||
|
PROFIT & LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2011
|
FY2010
|
FY2009
|
|
Interest and similar income |
13,820,889 |
8,765,606 |
4,050,421 |
|
Interest and similar expenses |
-8,598,491 |
-5,246,502 |
-2,212,353 |
|
Net interest and
similar income |
5,222,398
|
3,519,104
|
1,838,068
|
|
Fee and commission income |
1,190,897 |
735,531 |
524,981 |
|
Fee and commission expenses |
-548,245 |
-146,693 |
-144,287 |
|
Net fee and
commission income |
642,652
|
588,838
|
380,694
|
|
Net gain/loss
from foreign currency trading |
-85,326
|
1,340
|
-72,766
|
|
Net gain/loss
from trading securities |
-113,213
|
-4,394
|
213,837
|
|
Net gain/loss
from investment securities |
-655,428
|
|
78,295
|
|
Other operating income |
56,641 |
123,559 |
78,295 |
|
Other operating expenses |
|
-231,329 |
|
|
Net gain/loss
from other operating activities |
56,641
|
-107,770
|
177,016
|
|
Dividend income |
79,405
|
91,079
|
38,367
|
|
TOTAL OPERATING INCOME
|
5,147,129
|
4,088,197
|
2,653,511
|
|
TOTAL OPERATING
EXPENSES |
-1,880,660
|
-1,253,882
|
-784,059
|
|
Profit from
operating activities before provision for credit losses |
3,266,470
|
2,834,318
|
1,869,452
|
|
Provision for credit
losses |
-637,282
|
-608,576
|
-364,382
|
|
Reversal of provision for credit losses |
-3,864 |
62,329 |
|
|
PROFIT BEFORE
TAX |
2,625,324
|
2,288,071
|
1,505,070
|
|
Current
enterprise income tax |
-709,988
|
-551,395
|
-331,343
|
|
Deferred
enterprise income tax |
|
8,494
|
|
|
Enterprise
income tax (“EIT”) |
|
-542,901
|
-331,343
|
|
NET PROFIT FOR
THE YEAR |
1,915,336
|
1,745,170
|
1,173,727
|
|
|
|||
|
FINANCIAL RATIOS |
|||
|
|
|||
|
Description |
FY2011
|
FY2010
|
FY2009
|
|
Shareholders’ Funds / Total Assets |
6.95% |
8.10% |
9.98% |
|
Customer Deposits/ Total Assets |
64.50% |
59.97% |
57.93% |
|
Loans to Total Asset Ratio |
42.53% |
44.51% |
42.88% |
|
Operating Income/ Total Assets |
3.71% |
3.73% |
3.85% |
|
Operating Expenses/ Total Assets |
1.35% |
1.14% |
1.14% |
|
Loans to Deposits Ratio |
65.94% |
74.23% |
74.01% |
|
Return on Assets (ROA) |
1.38% |
1.59% |
1.70% |
|
Return on Equiry (ROE) |
19.86% |
19.60% |
17.04% |
|
Net Interest Margin (NIM) |
4.29% |
3.50% |
2.84% |
|
Net interest Income/ Gross interest Income |
37.79% |
40.15% |
45.38% |
|
Operating Expenses/ Operating Income |
36.54% |
30.67% |
29.55% |
|
Liquidity Assets / Total Assets |
49.59% |
47.91% |
52.64% |
|
Productive Assets / Total Assets |
87.72% |
91.83% |
93.82% |
|
Risky Assets / Total Assets |
73.74% |
77.64% |
79.80% |
|
Growth in Loan Assets |
21% |
64.92% |
88.08% |
|
|
||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Good |
|
Liquidity |
|
High |
|
Payment status |
|
Prompt |
|
Financial Situation |
|
Strong |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
NA |
|
Sale Methods |
|
Other |
|
Public opinion |
|
Good |
INTERPRETATION ON THE SCORES
|
|||||||
|
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MILITARY COMMERCIAL JOINT STOCK BANK is one of the leading commercial
joint stock banks in Vietnam. The subject was established in 1994 according
Decision number 0054/NH-GP, issued by The Governor of the State Bank of
Vietnam. On 1st November 2011, the subject was listed officially
on HNX stock market with symbol MBB. Its current registered capital is VND
7,300 billion. The head office of the subject is at No 3, Lieu Giai str, Ba Dinh
dist, Hanoi city. In the beginning year 2011, it had 103 transaction points,
250 automatic teller machines and 1,100 POS. enlarging with high speed, now
the subject has 174 branch and transaction points operating in 30 provinces
and city over the countries. The subject also has performed to oversea with
opening branches in Laos and Cambodia. The labor has increased from 4000
people in the late year 2010 to more than 5000 people now. Financially, the subject’s strengthen is assessed at well. In 2010, MB
was ranked 10th in terms of business scale in the whole banking system
with total assets of VND 109,623,198 million. Next to 2011 this number
increased to VND 138,831,492 million. The credit growth rate was also fairly
high at 64.92% in 2010 and reduced strongly to only 21% in 2011 and the bank
still maintained a good asset structure. In 2012 The central State Bank of Vietnam has categorized local credit
institutions into four groups with the last group disallowed for credit
growth. The maximum credit growth assigned for the
other groups are 17%, 15% and 8% respectively. The subject is belong the
first group and be accepted at maximum credit growth 17%. It reflects a
stability of the subject in development. Up to now, the subject always
focuses on private customers. In 2011 it serviced 850 thousands clients, in
which, it only 4% was business customers and remain are private. Profitability of
the subject is positive. However, the subject depended much on
income from interest. One of the subject’s credit strengthen is that MB has
effective control of bad debt and this rate has reduced over time. In 2011
non perform loans of Vietnamese banking system reached to 3.4% and this ratio
was only 1.59% for the subject. In short, the subject is a large bank in local banking industry and it
has much achievement. The subject has strong capital adequacy, healthy
profitability and good asset quality. Its future prospect is bright. No
caution needed for small and normal financial commitments. |
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INDUSTRY DATA
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Industry code |
Growth speed by price compared with 1994 (%) |
Total enterprises 2009 |
Total employees 2010 (Thous.pers.) |
Annual average capital of enterprises 2009 (billion dongs) |
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2011 |
2010 |
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Agriculture, Forestry and Fishing |
4.00 |
2.78 |
8,749 |
23,896.3 |
81,559 |
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Industry and Construction |
5.53 |
7.70 |
85,115 |
10,630 |
2,751,975 |
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Trade and Services |
6.69 |
7.52 |
154,978 |
14,522 |
4,939,069 |
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ECONOMIC INDICATORS
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2011 |
2010 |
2009 |
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Population (Million
person) |
87.84 |
86.93 |
86.02 |
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Gross Domestic Products
(USD billion) |
119 |
102.2 |
91 |
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GDP Growth (%) |
5.89 |
6.78 |
5.32 |
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GDP Per Capita
(USD/person/year) |
1,300 |
1,160 |
1,080 |
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Inflation (% Change in
Composite CPI) |
18.58 |
11.75 |
6.88 |
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State Budget Deficit
compared with GDP (%) |
4.9 |
5.8 |
6.9 |
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SERVICE TRADE PERFORMANCE
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Billion USD |
2011 |
2010 |
2009 |
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Exports |
96.3 |
72.2 |
57.1 |
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Imports |
105.8 |
84.8 |
69.9 |
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Trade Balance |
-9.5 |
-12.6 |
-12.8 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
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|
1 |
Rs.86.14 |
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Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.