|
Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
STATE BANK OF MAURITIUS LIMITED |
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Indian
Registered Office : |
101, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai –
400 021, |
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Country : |
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Financials (as
on) : |
31.03.2011 (Indian Operations) |
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Date of
Incorporation : |
01.11.1994 |
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FCRN No.: |
F03964 |
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Capital
Investment / Paid-up Capital : |
Rs.2650.987 millions |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS18331F |
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Legal Form : |
Branch of a foreign registered bank |
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Line of Business
: |
Subject is a commercial bank carrying on all kinds of banking activities. |
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No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 12764000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a commercial bank carrying on all kinds of banking activities. The bank has been making satisfactory progress in its performance. Financial position is also satisfactory. Trade relations are reported as fair. Payments are reported as correct and as per commitments. The bank can be considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Sachin |
|
Designation : |
Manager |
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Contact No.: |
91-22-43028888 |
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Date : |
18.05.2012 |
LOCATIONS
|
Indian
Registered Office : |
101, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai –
400 021, |
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Tel. No.: |
91-22-22842965/ 2969/ 43028888 |
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Fax No.: |
91-22-22842966 |
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Swift : |
STCBINBX |
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E-Mail : |
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Website : |
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Global Headquarters : |
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Tel. No.: |
(230) 202 1111 |
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Customer Service Line : |
(230) 207 0111 |
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Fax No.: |
(230) 202 1234 |
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E-Mail : |
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Chennai Office :
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Prince Arcade, 4th Floor, 22A |
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Tel. No.: |
91-44-28110806/ 28110943 |
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Fax No.: |
91-44-28116445 |
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E-Mail : |
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Tel. No.: |
91-40-23300442 |
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Fax No.: |
91-40-23300436 |
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E-Mail : |
||
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Tana Unit : |
1 Rue Andrianary Ratianarivo, Antsahavola, 101 |
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Tel. No.: |
(261) (2022) 66607 |
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Fax No.: |
(261) (2022) 66608 |
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Telex : |
22639 SBM MG |
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E-Mail : |
||
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Tamatave Unit : |
Cnr 25 Boulevard Joffre and 1, |
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Tel. No.: |
(261) 5335306/7/8/9 |
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Fax No.: |
(261) 5335311 |
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E-Mail : |
||
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Service Units (Branches) : |
Located at: ·
Moka ·
Flacq ·
Savanne |
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Customer Service Line : |
(230) 202 1111 |
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Fax No.: |
(230) 202 1234 |
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DIRECTORS
|
Name : |
Mr. Muni Krishna T. Reddy |
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Designation : |
Chairman of the Board |
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Qualification : |
G.O.S.K, MSc (Agriculture) |
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Name : |
Mr. Chandradev Appadoo |
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Designation : |
Director |
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Qualification : |
FCCA, ACIB |
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|
Name : |
Mrs. Kalindee Bhanji |
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Designation : |
Director |
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Qualification : |
BA (Hons) Economics, MSc Public Sector
Management |
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|
Name : |
Mr. Dheerendra Kumar Dabee |
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Designation : |
Director |
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Qualification : |
S.C, LLB (Hons) |
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|
Name : |
Mr. George John Dumbell |
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Designation : |
Director |
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Qualification : |
ACIB ( |
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Name : |
Mr. Rohit Ramnawaz |
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Designation : |
Director |
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Qualification : |
FCCA, LLB |
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|
Name : |
Mr. Alfred Joseph Gerard Robert Alain Rey |
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Designation : |
Director |
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Qualification : |
BSC (Hons) Economics, ACA |
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|
Name : |
Professor Andrew Scott |
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Designation : |
Director |
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Qualification : |
BA, MSC, D Phil |
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|
Name : |
Mr. Shakeel Summun |
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Designation : |
Director |
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Qualification : |
FCCA |
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|
Name : |
M. Régis Yat Sin |
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Designation : |
Director |
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Qualification : |
C.S.K, BA (Hons) |
KEY EXECUTIVES
|
Name : |
Mr. Sachin |
|
Designation : |
Manager |
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EXECUTIVE MANAGEMENT : |
|
|
Name : |
Mr. Soopaya Parianen |
|
Designation : |
Acting Chief Executive and Head - Retail
Banking |
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Qualification : |
BA (Hons) Economics |
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|
Name : |
Mr. Chandradev Appadoo |
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Designation : |
Divisional Leader - Corporate Affairs,
Finance and Company Secretary |
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Qualification : |
FCCA, ACIB |
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|
Name : |
Ms. Pauline Seeyave |
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Designation : |
Divisional Leader - Corporate Banking |
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Qualification : |
MA (Cantab), ACA |
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|
Name : |
Mr. Daniel Ng Tseung |
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Designation : |
Divisional Leader - Treasury |
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Qualification : |
BSc Economics |
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|
Name : |
Mr. Bishwajit Mazumder |
|
Designation : |
Divisional Leader - Operations Management
and Trade Finance |
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Qualification : |
CA, LLB, MBA, CIA, CISA, CISSP, CFE, CAIIB,
ISSMP |
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|
|
|
Name : |
Mr. Anil Kumar Kundan |
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Designation : |
Divisional Leader - Credit Underwriting |
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Qualification : |
BA (Humanities), Diploma in Automobile
Engineering |
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|
Name : |
Mr. Sridhar Guru |
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Designation : |
Chief Information Officer |
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Qualification : |
Bachelors Degree in Computer Science
Engineering, Executive Masters in International Business Administration |
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|
Name : |
Ms. Suvalaxmi Chakraborty |
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Designation : |
Chief Executive Officer - SBM |
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Qualification : |
B.Com (Hons), CA |
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|
Name : |
Mr. Louis Nallet |
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Designation : |
Directeur Général Banque SBM Madagascar SA |
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Qualification : |
DES - Institut Technique de Banque / CNAM
Paris |
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TEAM LEADERS : |
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|
Name : |
Eshan Amiran |
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Designation : |
BST-eBusiness, Alt Channels and International Markets |
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|
Name : |
Vikash Bheem Singh |
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Designation : |
Customer Service and Electronic Channels |
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|
Name : |
Anand Bhugun |
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Designation : |
Retail Banking |
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|
Name : |
Hemant Kumar Dursun |
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Designation : |
Facilities Management |
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Name : |
Bhuvanesh Hingoraney |
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Designation : |
BST - Banking and Treasury |
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|
Name : |
Kwon Li Pak Man |
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Designation : |
Risk and Compliance |
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Name : |
Rajan Mooroogan |
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Designation : |
IT Production Platforms and Data Centre |
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|
Name : |
Poorunduth Ramgoolam |
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Designation : |
Retail Banking |
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|
Name : |
Shailen Sreekeessoon |
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Designation : |
Strategic Planning and Research |
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|
Name : |
Kanand Gooly |
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Designation : |
Small and Medium |
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|
Name : |
Vishal Joyram |
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Designation : |
Wealth Management |
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|
Name : |
Grant Mckenzie |
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Designation : |
eBusiness |
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|
Name : |
Dr. Soopaya Pareathumby |
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Designation : |
Technology Operations |
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|
Name : |
Amaresh Ramlugan |
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Designation : |
Marketing and Communications |
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|
Name : |
Aslam Taher |
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Designation : |
Corporate Banking |
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|
Name : |
Rita Gujadhur |
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Designation : |
Value Based Performance Management |
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|
Name : |
Liliane Li Chiu Lim |
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Designation : |
Finance |
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|
Name : |
Nandrajen Mooneesawmy |
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Designation : |
Credit Services |
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|
Name : |
Suren Ramchurn |
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Designation : |
Card Products |
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|
Name : |
Satyamurti Ravikumar |
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Designation : |
Senior Vice President, Indian Operations |
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|
Name : |
Arvin Kumar Jha |
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Designation : |
Global Business |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Major Shareholders – Not Available
BUSINESS DETAILS
|
Line of Business : |
Subject is a commercial bank carrying on all kinds of banking activities. |
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GENERAL INFORMATION
|
No. of Employees : |
1200 (Approximately) |
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Bankers : |
Reserve Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address 1 : |
42, Free Press House, 215, Nariman Point, Mumbai - 400 021, |
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Tel. No.: |
91-22-66391101-4 |
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Fax No.: |
91-22-22856237 |
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Address 2 : |
701, |
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Tel. No.: |
91-22-66729999 |
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Fax No.: |
91-22-66729777 |
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Website : |
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Parent : |
State Bank of Mauritius Limited |
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Associates : |
State Insurance Company
of Mauritius Limited Tel No.: (230) 203 8400 E-Mail: email@sicom.intnet.mu |
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Subsidiaries : |
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CAPITAL STRUCTURE
|
CAPITAL |
As at 31.03.2011 (Rs. in
millions) |
As at 31.03.2010 (Rs. in
millions) |
|
Capital |
|
|
|
At the beginning of the year |
833.889 |
833.889 |
|
Additions during the year |
1497.000 |
0.000 |
|
TOTAL |
2330.889 |
833.889 |
|
Retained Earnings |
320.098 |
320.098 |
|
TOTAL |
2650.987 |
1153.987 |
Notes:
1) Capital includes
start-up (assigned) capital brought in as per RBI Prescription, in respect of
Mumbai, Chennai and Hyderabad offices Rs.822.350 millions.
2) Amount of
deposit kept with RBI in the form of approved securities for March 2011 under
section 11 2(b) of the Banking Regulation Act, 1949 Rs.195.380 millions
(Previous Year Rs.196.557 millions) Face value Rs.200.000 millions (Previous
Year Rs.200.000 millions)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET - INDIAN OPERATIONS
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
CAPITAL & LIABILITIES |
|
|
|
|
Capital |
|
2650.987 |
1153.987 |
|
Reserves & Surplus |
|
540.107 |
469.614 |
|
Deposits |
|
4991.606 |
3478.973 |
|
Borrowings |
|
3006.230 |
950.000 |
|
Other Liabilities and Provisions |
|
227.022 |
178.848 |
|
TOTAL |
|
11415.952 |
6231.422 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Cash and Balances with R B I |
|
350.378 |
323.698 |
|
Balances with banks and Money at Call and Short Notice |
|
321.829 |
31.843 |
|
Investments |
|
4170.070 |
1223.542 |
|
Advances |
|
5970.838 |
4101.313 |
|
Fixed Assets |
|
327.851 |
326.310 |
|
Other Assets |
|
274.986 |
224.716 |
|
TOTAL |
|
11415.952 |
6231.422 |
|
|
|
|
|
|
Contingent Liabilities |
|
11546.931 |
942.970 |
|
Bills for Collection |
|
946.781 |
165.523 |
PROFIT & LOSS
ACCOUNT - INDIAN OPERATIONS
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
I.
INCOME |
|
|
|
|
|
Interest Earned |
|
575.017 |
435.885 |
|
|
Other Income |
|
54.994 |
45.676 |
|
|
TOTAL |
|
630.011 |
481.561 |
|
|
|
|
|
|
|
|
II.
EXPENDITURE |
|
|
|
|
|
Interest Expended |
|
358.780 |
356.638 |
|
|
Operating Expenses |
|
99.420 |
71.748 |
|
|
Provisions & Contingencies |
|
96.166 |
93.281 |
|
|
TOTAL |
|
554.366 |
521.667 |
|
|
|
|
|
|
|
|
III. PROFIT/LOSS |
|
|
|
|
|
Net Profit (Loss) for the year |
|
75.645 |
(40.106) |
|
|
Add : Profit (Loss) brought forward |
|
2.324 |
42.430 |
|
|
TOTAL |
|
77.969 |
2.324 |
|
|
|
|
|
|
|
|
IV.
APPROPRIATIONS |
|
|
|
|
|
Transfer to Statutory Reserves |
|
18.911 |
0.000 |
|
|
Balance carried over to Balance Sheet |
|
59.058 |
2.324 |
|
|
TOTAL |
|
77.969 |
2.324 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions
of the firm |
Yes |
|
4) Premises
details |
No |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
Yes |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last two years |
Yes |
|
12) Profitability
for last two years |
Yes |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
No |
|
20) Export / Import
details (if applicable) |
No |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
Yes |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
Yes |
|
28) Incorporation
details, if applicable |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
No |
CONTINGENT
LIABILITIES
|
Particulars |
As at 31.03.2011 (Rs. in
millions) |
As at 31.03.2010 (Rs. in
millions) |
|
I. Claims
against the Bank not acknowledged as Debts |
0.000 |
0.000 |
|
II. Liability
for partly paid investments |
0.000 |
0.000 |
|
III. Liability
on account of outstanding Forward Exchange Contracts and IRS |
9566.984 |
463.710 |
|
IV. Guarantees
given on behalf of constituents |
|
|
|
a) In |
11.393 |
17.217 |
|
b) Outside |
1276.897 |
80.604 |
|
V. Acceptances, Endorsements
and Other Obligation |
650.945 |
343.971 |
|
VI. Other items
for which the Bank is Contingently Liable |
40.712 |
37.468 |
|
TOTAL |
11546.931 |
942.970 |
FIXED ASSETS:
·
Office Premises
·
General Plant and equipment (including AC Plant)
·
EDP Equipments, Computers
·
Software
·
Furniture and Fixtures
·
Motor Car
WEBSITE DETAILS:
HISTORY
The government of
SBM CORPORATE
PROFILE
The State Bank of Mauritius Group (SBM) is a leading financial services
group in
Retail Banking,
SMEs and Wealth Management and Private Banking
SBM is well entrenched in the domestic banking landscape with a
diversified and loyal customer base, serviced through a large branch network by
employees who are being made more responsive to evolving client needs. Besides
a broad range of savings, investment and financing products, in both local and
foreign currency, SBM offers a large portfolio of cards, designed to suit needs
of specific customer segments. Innovation and market insights continue to drive
product development. In line with the Group’s diversification strategy and in
view of market trends, the Group is now looking to further develop its Small
and Medium Enterprise business as well as Wealth Management and Private Banking
services.
SBM’s Wealth Management and Private Banking is specialised in providing
tailor-made financial planning solutions, investment advice and services to
corporates, high net worth individuals and families, both locally and abroad.
The unit offers increased interactions between the Private Banking, Asset
Management and Securities departments by providing discretionary investment
management as well as execution only services, banking and credit solutions,
advice in all areas of financial planning and wealth structuring and offers a
large range of products and services related to wealth management. It also
measures portfolio performance and provides customised reports to enable better
tracking by customers, especially those pursuing multiple investment
strategies.
Corporate Banking
and International Banking and Global Business
The Corporate Banking and International Banking and Global Business
Divisions of the Group, through their growing team of professionals, provide
comprehensive financial solutions to their business customers across
geographical borders and industrial portfolios. These include traditional
banking products, transactional banking services, asset finance, commercial
loan and working capital finance, structured finance, structured trade finance
and project finance, in both local and foreign currencies. They also provide
banking services to Global Business Customers and are involved in cross-border
transactions. The share of Global Business and Cross Border transactions has
steadily risen over the past few years and, in line with the Group’s strategic
objectives, is set to increase further over the medium term. In addition with
the Group’s presence in
Treasury
Treasury activities at SBM encompass different financial products
including foreign exchange, money market, fixed income and commodities trading.
The Group’s professional and dynamic treasury team offers an array of services
to customers, from up-to-date market information and advice to timely execution
of deals. Products offered to customers range from basic spot, forward and swap
transactions to currency options and structured deposits, tailored to the
requirements of their customers. In addition to the Group’s core Mauritian
operations, treasury services are also provided in
eBusiness
In line with its spirit of innovation, the Group has invested in
state-of-the-art technology to place multiple, reliable and sophisticated electronic
delivery channels at the service of its customers for convenient banking from
anywhere on a 24/7 basis. These channels include an eCommerce platform,
internet and mobile phone banking services as well as an extensive network of
Point of Sales and Automated Teller Machines. Capitalising on superior
technology, SBM has introduced a number of innovative products in the eBusiness
segment. SBM has also invested considerably in risk management infrastructure
to provide a safe and secure platform for its customers.
Risk Management
The Bank has a well-diversified credit portfolio, whether by segment or
by industry group. International business expansion is also helping the Group
to further spread the risk in its books. The Group’s risk management structure
is independent from the business generating areas to avoid conflicts of
interest, and is overseen by the Board of Directors. The Risk Management Unit
ensures adherence to regulatory norms and the risk appetite limits and
recommends changes to the set risk parameters and limits. The risk management
capabilities are supported by good management information systems, a solid
internal rating system and robust policies. Testifying to the robustness of its
risk management framework, asset quality remains sound with the gross and net
impaired ratios at 2.0% and less than 0.5% respectively as at June 2009.
Human Resources
The Group’s people strategy is at the heart of its growth objectives.
SBM employs more than 1,200 staff in
Market Firsts
True to its philosophy of being close to its customers, SBM was the
first bank to establish branches in the rural areas, thereby establishing a
national branch network. SBM is also rightly recognised for its lead in
technology. It was the first bank in
International
Recognition and Ratings
SBM has been awarded "Bank of the Year,
Moody’s Investors Service continues to rate SBM the highest amongst its
peers in Mauritius: Baa1 for global local currency deposits, Baa2/P-2 for
foreign currency deposits, Baa1 for foreign currency issuer rating and C- for
Bank Financial Strength ratings.
Performance and
Financial Standing
Within the context of a challenging business environment, the Group’s
operating results were very encouraging. Profit after tax for the financial
year ended 30 June 2009 was Rs 2.0Bn (2008: Rs 2.1Bn). Excluding dividend
income, the growth in post-tax profit works out at a commendable 35.3%.
Business volumes were significantly up year on year, with gross advances to
customers and investment securities increasing by 12.7% to Rs40.8Bn and by
27.5% to Rs19.0Bn respectively while customer deposits went up by 15.9% to
reach Rs63.6Bn as at June 2009. Total assets stood at Rs79.2Bn, up by 17.3%
from June 2008. In line with the Group’s diversification strategy, foreign
assets grew by 49.3% and represented 31.4% of total assets in financial year
2009 (2008:24.6%). Despite the slowdown in economic activity, asset quality improved,
with the gross impaired ratio declining from 2.4% to 2.0%.
Corporate Social
Responsibility
SBM firmly believes that sustainable growth can only be achieved in
partnership with the community in which it operates. SBM Group ploughs back 2%
of its profits annually in the community through Corporate Social
Responsibility (CSR) initiatives. The areas of intervention of SBM are: Health
and Wellness, Education, Environment, Sports, Leisure and Arts and the
Empowerment of vulnerable groups, all of which have an educational dimension.
Education is key for the development of the individual and the country. The
ultimate goal is to combat social ills and poverty by providing the opportunity
to vulnerable groups to acquire skills so as to be economically independent.
SBM also fosters a culture of volunteering among staff through awareness,
opportunities and company support.
Equality and
Diversity Programme
Equality translates their recognition of the close interlink between all
economic agents, in whatever role they may be, and of the importance to ensure
that people are treated justly and given fair chances. Within the Group, they
are committed to equal opportunity policies and strive to become the preferred
employer of choice by providing growth opportunities to employees and investing
in staff welfare. In addition to their internal policies which promote equality
at all levels, the Group’s Corporate Social Responsibility programme is aimed
at improving opportunities and participation within the community at large.
Diversity, for its part, challenges established practices and, hence, pushes
the Group to strive for the best in everything it does. Whether in terms of
customers, employees, business segments, revenue streams, risks or ideas,
diversity generates self-reinforcing dynamics, which help the Group grow into a
stronger and more balanced organisation. To further their commitment as an
Equality and Diversity champion, SBM has symbolically earmarked four of their
national festivals, namely Chinese Spring Festival, Eid-Ul-Fitr, Divali and
Christmas, which are celebrated with staff and customers through various
initiatives.
Since November 1994, SBM has been present in the commercial capital,
Mumbai and operates via a network of 2 other branches, namely in Chennai and
As a growing international bank in the wholesale banking domain in
In terms of personal banking, SBM offers an array of tailor-made deposit
products to "Non-resident Indian" (NRI) and "Person of Indian
Origin (PIO)" customers as per their specific investment needs.
State Bank of Mauritius (SBM) was established in 1973 and is the second
largest bank in
Key Attributes
Bank of Mauritius's key attributes have been innovation, flexibility,
accessibility and reliability that have significantly contributed to the bank's
reputation and trustworthiness. The bank has approximately 17, 000 domestic and
international shareholders. The State Bank of
Presence in
SBM opened its first overseas branch in Mumbai in 1994. SBM also
operates in
Products and Services
SBM is well established in domestic banking with a diversified and loyal customer base, serviced through a large branch network by employees who are responsible to evolve client needs. Apart from serving a wide range of savings, investment and financing products, in both local and foreign currency, SBM offers a large portfolio of cards specially designed to meet the needs of specific customer segments. SBM's wealth management and private banking segment is specialized in providing readymade financial planning solutions, investment advice and services to corporates, high net worth individuals and families, both national and international.
SBM also offers extensive interactions between the private banking, asset
management and securities departments by providing discretionary investment
management as well as execution only services, banking and credit solutions. it
also offers a wide range of products and services related to wealth management.
SBM also measures portfolio performance and provides customized reports to
enable better tracking by customers. Treasury services provided by SBM cover
different financial products including foreign exchange, money market, fixed
income and commodities trading. SBM's professional and dynamic treasury team
offers a range of services to customers, from up-to-date market information and
advice to timely execution of deals.
NRI Oriented Services
SBM as a growing international bank in the wholesale banking segment provides a wide range of corporate and commercial banking services. This wide range of services include corporate lending, treasury services, cash and trade transaction services to corporate, financial institutions and small and mid-tier clients across industries and segments. SBM also offers an array of readymade deposit products to Non-Resident Indian (NRI) and Person of Indian Origin (PIO) customers based on their investment needs.
BOARD OF DIRECTORS
Mr. Muni Krishna T. Reddy
G.O.S.K, MSc (Agriculture)
Chairman of the Board
Mr. Muni Krishna T. Reddy has a master degree with over 40 years of
experience in financial services industry. He was the Chief Executive Officer
of the State Bank of Mauritius Limited (SBM) for over 16 years until October
2003 when he was elected as Director and Chairman of the Board of SBM. During
his tenure as Chief Executive, SBM was listed on the Mauritian Stock Exchange
in 1995, implemented for the first time the bank's automation of its operations
and other infrastructure, including SBM tower. SBM also expanded into
Mr. Reddy has been, once again, elected as an independent non-executive
director on 17 December 2010 and was designated as Chairman of the SBM Group.
Mr. Chandradev Appadoo
FCCA, ACIB
Mr. Appadoo is a fellow of the Association of Chartered Certified
Accountants. He has 26 years experience at SBM and has worked at various levels
including branches, Corporate Banking, Finance, Legal, Compliance and Risk
Management. Currently heading Facilities Management, Corporate Affairs, Value
Based Performance Management and Finance departments of the bank. He joined the
Board of SBM in December 2011 and is an executive director. Reports to the
Chairman and Chief Executive.
Mrs. Kalindee Bhanji
BA (Hons) Economics, MSc Public Sector Management
Mrs. Bhanji has held senior positions in various ministries of the
Government of Mauritius and is currently the Permanent Secretary at the Prime
Minister’s Office. She joined the Board in December 2006 and is a non-executive
director.
Mr. Dheerendra Kumar Dabee
S.C, LLB (Hons)
Mr. Dabee, a
Mr. George John Dumbell
ACIB (
Mr. Dumbell has extensive financial and commercial experience over more
than 35 years, having served in Senior Management positions within the HSBC
Group in nine countries across Asia, the Middle East, Europe and the
Mr. Rohit Ramnawaz
FCCA, LLB
Mr. Ramnawaz is a Fellow of the Association of Chartered Certified
Accountants and also holds a degree in law. He has over 25 years experience in
the fields of banking, finance, accounting, tax advisory and financial
services. He is currently the Managing Director of African Links Limited, a
consultancy firm principally engaged in providing value-added services to
clients and multinationals in the Global Business sector. He also acts as
independent director on the board of various companies in the Global Business
sector. He has previously been a freelance country note sender for
Mr. Alfred Joseph Gerard Robert Alain Rey
BSC (Hons) Economics, ACA
Mr. Rey is a graduate in Economics from the London School of Economics
and qualified as a Chartered Accountant in 1985. He is currently Project
Director as well as a director of various companies. Mr. Rey has wide financial
experience having served as Chief Financial Officer of a NASDAQ listed company
as well as Regional Corporate Director of a leading bank in
Professor Andrew Scott
BA, MSC, D Phil
Professor Scott is Professor and Deputy Dean at the
Mr. Shakeel Summun
FCCA
Mr. Summun is a fellow of the Association of Chartered Certified
Accountants. He has worked at Ernst and Young, Kemp Chatteris Deloitte and
Touche and DTOS before joining BAI Company (Mtius) Limited in 2005. Since 2007
he is the Senior Vice President and Chief Financial Officer of BAI. He joined
the Board of SBM in December 2011 and is an independent non-executive director.
M. Régis Yat Sin
C.S.K, BA (Hons)
Mr. Yat Sin, C.S.K, former senior civil servant, held the position of
Secretary of the Cabinet and Head of Civil Service. He was also Chairman of the
Public Service Commission and the Disciplined Forces Service Commission from
2005 to August 2011. He served on various boards, including Bank of Mauritius,
Air
EXECUTIVE MANAGEMENT
Soopaya Parianen
BA (Hons) Economics
Acting Chief Executive and Head - Retail Banking
Mr. Parianen is Acting Chief Executive since 6 April 2012. He has 34
years experience in Banking out of which 27 years at Senior Management level.
He was previously the Group Divisional Leader - Corporate Banking and the Group
Divisional Leader - Retail Banking and Credit Management Support Services and
was also overseeing the overall operations management of SBM. Since February
2010, he is heading the Retail Banking Division of SBM.
Chandradev Appadoo
FCCA, ACIB
Divisional Leader - Corporate Affairs, Finance and Company Secretary
Has worked for 26 years in the Bank at various levels including
branches, Corporate Banking, Finance, Legal, Compliance and Risk Management.
Currently the Company Secretary and also heading Facilities Management, Corporate
Affairs and Finance Division. Reports to the Chairman and Chief Executive.
Pauline Seeyave
MA (Cantab), ACA
Divisional Leader - Corporate Banking
Was previously managing a portfolio of clients in Audit and Business
Assurance in an international firm of Chartered Accountants in
Daniel Ng Tseung
BSc Economics
Divisional Leader - Treasury
Has worked for 9 years as Treasurer at HSBC before joining SBM as Group
Treasurer in December 2000. Was also overseeing the eBusiness activities. Has
been a member of the Board of SBM. Reports to the Chief Executive.
Bishwajit Mazumder
CA, LLB, MBA, CIA, CISA, CISSP, CFE, CAIIB, ISSMP
Divisional Leader - Operations Management and Trade Finance
Has worked for 28 years in the banking sector in different positions and
geographies, before joining the Bank in 2010 as Chief Internal Auditor. Has
worked as Chief Audit Executive for ING Vysya Bank in India, as Chief Internal
Auditor for Central Bank of Oman for five years (till 2007) and for IDBI Bank
for 4 years (till 2002) as Assistant Vice President. Also, held various
positions in front office, back office, branch head and corporate office and
Information Technology processes at multiple banks. Currently, Divisional
Leader in charge of Operations Management and Trade Finance and also oversees
the Quality and Customer Service Department. Reports to the Chief Executive.
Anil Kumar Kundan
BA (Humanities), Diploma in Automobile Engineering
Divisional Leader - Credit Underwriting
Has worked in various positions in the credit department of the largest
bank in
Sridhar Guru
Bachelors Degree in Computer Science Engineering, Executive Masters in
International Business Administration
Chief Information Officer
Sridhar has held several successful IT roles within banking, insurance,
financial services, e-commerce and commercial technology industries. Over 20
years of experience, he has acquired global work exposure in the
Suvalaxmi Chakraborty
B.Com (Hons), CA
Chief Executive Officer - SBM
Has 23 years of work experience, out of which 22 years have been spent
in the banking and financial sector. Worked for ICICI Bank in various senior
positions (in Corporate Finance, Project Finance, Treasury, General Manager -
Corporate Banking and her last assignment in ICICI Bank was Head - Rural and
Agri Banking) and was Commercial Banking Director of the Indian operations of
Barclays Bank plc before joining SBM. Reports to the Chief Executive.
Louis Nallet
DES - Institut Technique de Banque / CNAM Paris
Directeur Général Banque SBM Madagascar SA
Has over 46 years of banking experience and has held senior positions in
major international financial institutions, including Citibank and Standard Bank.
Before joining SBM in 2010 he was Director of Stanbic Africa, a member of the
Standard Bank Group, and Managing Director of Stanbic in the Democratic
Republic of Congo. Reports to the Chief Executive.
NEWS:
STATE BANK OF
Tue May 15, 2012
3:54pm GMT
PORT LOUIS May 15 (Reuters) - State Bank of Mauritius's (SBM) nine-month pretax profits rose 25 percent to 2.44 billion rupees ($83 million), driven mainly by higher net interest income.
SBM, the
Earnings per share rose to 7.60 rupees from 6.21 rupees.
The results were released after the close of the day's trading. SBM's share price shed 0.6 percent to 80.50 rupees.
SBM, which has about a 25 percent share of total banking sector assets in the island, is involved in retail and corporate banking, currency and securities trading, e-Business, leasing and asset management.
It said it aimed to diversify into other products and
markets. ($1 = 29.3500
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.87 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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%)
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 report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.