MIRA INFORM REPORT

 

 

Report Date :

23.05.2012

 

IDENTIFICATION DETAILS

 

Name :

EASTERN BANK LIMITED

 

 

Registered Office :

Jiban Bima Bhaban,10, Dilkusha C/A, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

08.08.1992  

 

 

Com. Reg. No.:

C-22554

 

 

Legal Form :

Public Limited 

 

 

Line of Business :

General Banking

 

 

No. of Employees :

3,000

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY DETAILS

 

Name

Eastern Bank Limited

Address

Jiban Bima Bhaban,10, Dilkusha C/A, Dhaka-1000

Country

Bangladesh

Telephone No

880-2-9556360, 9558392, 9556371

Fax No

880-2-9562364

E-Mail

info@ebl-bd.com

Website

www.ebl.com.bd

Established

1992

Company Registration No

C-22554

Registration Date

8th August 1992  

Legal Status

Public Limited 

Issuing Authority

The Registrar of Joint Stock Companies & Firms, Dhaka  

Business Type

General Banking 

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

Jiban Bima Bhaban,10, Dilkusha C/A, Dhaka-1000

Telephone No

880-2-9556360, 9558392, 9556371

Fax No

880-2-9562364

E-Mail

info@ebl-bd.com

Website

www.ebl.com.bd

Branch

59

Factory

N/A

S.W.I.F.T.:

EBLDBDDH

 

 

DIRECTORS

 

Name

Mr. M. Ghaziul Haque

Designation

Chairman

Nationality

Bangladeshi

 

 

Name

Mr. Ali Reza Iftekhar

Designation

Managing Director and CEO

Nationality

Bangladeshi

 

 

Name

Mr. Md. Showkat Ali Chowdhury

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Mir Nasir Hossain

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. A.M. Shaukat Ali

Designation

Director

Nationality

Bangladeshi

 

 

Name

Ms. Salina Ali

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. A.Q.I. Chowdhury, OBE

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Asif Mahmood

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Gazi Md. Shakhawat Hossain

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Meah Mohammed Abdur Rahim

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Ormaan Rafay Nizam

Designation

Director

Nationality

Bangladeshi

 

 

information declined by

 

Management Non Co Operative


BUSINESS DETAILS

 

Line of Business

 

Range of Services

General Banking

 

4 Consumer Credit

4 Personal Loan

4 Small Business Loan

4 Building Repair Loan

4 Savings Accounts

4 Short Term Deposit Account

4 Fixed Deposit Receipt Account

4 Opening Account

4 Standard Settlement Instruction

4 Remittance

4 EBL Card (debit)

4 EBL Credit card

4 EBL VISA Electron card (debit)

4 EBL Silver OD card (credit)

4 EBL Gold OD card (credit)

4 EBL Jibandhara Loan

4 EBL Utshab Loan

4 EBL Home Loan

4 EBL Fast Cash

4 EBL Fast Loan

4 EBL Executive Loan

4 EBL Auto Loan

4 EBL TraveLoan

4 EBL Parseloan

4 EBL Education Finance Pack

4 EBL Interesting Account

4 EBL Campus Account

4 EBL Campus Account

4 EBL High Performance Account

4 EBL Repeat

4 EBL Confidence

4 EBL Just Double

4 EBL Agrim

4 EBL Uddog

4 EBL Asha

4 EBL Puji

4 EBL Subidha

4 EBL Bannijyo

4 EBL Mukti

 

 

 

FINANCIAL INFORMATION

 

Balance Sheet

As At 31st December, 2011

Currency: Taka

 

PROPERTIES AND ASSETS

Taka

Cash

6,022,757,136

Cash in hand (including foreign currency)

1,095,795,193

Balance with Bangladesh Bank & its agent bank (Including foreign Currency)

4,926,961,943

Balance with other banks & Financial Institutions

3,531,317,370

In Bangladesh

3,429,581,406

Out side Bangladesh

101,735,964

Money at Call and Short Notice

2,650,000,000

Investments

16,910,191,265

Government

12,841,220,762

Others

4,068,970,503

Loans and Advances

81,773,910,178

Loans, Cash Credit, Overdraft etc.

80,144,671,921

Bills Purchased and Discounted

1,629,238,257

 

 

Fixed assets including land, building, furniture and fixtures

4,453,286,336

Other assets

1,991,379,197

Non banking assets

247,878,000

TOTAL ASSETS

117,580,719,482

 

 

LIABILITIES AND CAPITAL

 

LIABILITIES

 

Borrowing from other banks, financial institutions and agents

21,652,484,276

Deposits and other accounts

75,535,746,703

Current deposits and other accounts, etc.

7,464,670,557

Bills Payable

814,170,727

Savings bank deposits

13,159,045,299

Fixed deposits

54,075,610,120

Bearer certificates of deposits

22,250,000

Other liabilities

5,985,437,034

TOTAL LIABILITIES

103,173,668,013

SHAREHOLDERS' EQUITY

 

Share capital - paid up capital

4,527,257,670

Statutory reserve

3,551,351,414

Dividend equalization reserve

356,040,000

Reserve against pre-take over loss

1,554,759,750

Pre-take over loss

(787,204,238)

Asset revaluation reserve

2,651,941,750

Reserve for amortization of treasury securities (HTM)

3,793

Reserve for revaluation of treasury securities (HFT)

409,033,635

General reserve

160,000,000

Reserve for non banking assets

233,527,796

Foreign currency translation gain

15,073,031

Retained earnings

1,735,266,868

TOTAL SHAREHOLDERS' EQUITY

14,407,051,469

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

117,580,719,482

 

Profit and Loss Account

For the year ended 31st December 2011

Currency: Bangladeshi Taka 

 

 

2011

Interest Income

9,713,139,461

Interest paid on deposits and borrowings

(6,398,718,277)

Net interest income

3,314,421,184

Income from investments

1,970,089,489

Fees, commission, exchange and brokerage

2,093,589,181

Other operating income

414,504,968

Total operating income

7,792,604,822

Salary and allowances

1,471,530,156

Rent, taxes, insurance, utilities etc.

253,889,895

Legal and professional expenses

44,080,615

Postage, stamp, telecommunication etc.

78,559,281

Stationery, printing, advertisement, etc.

13,956,361

Directors' fees and expenses

2,602,236

Audit fees

365,750

Repairs, maintenance and depreciation / amortization

309,492,977

Other office operating expenses

306,874,783

Total operating expenses

2,685,240,130

Net operating income

5,107,364,692

Profit before provisions

5,107,364,692

Provision for loans and advances

 

Specific provision

320,968,073

General provision (loans and contingent assets)

403,465,121

 

724,433,194

Other provision

253,784,137

Total provisions

978,217,331

Profit before tax for the year

4,129,147,361

Provision for tax made during the year

(1,739,842,732)

Deferred tax income

131,399,784

Net profit after tax for the year

2,520,704,413

Appropriation

 

Statutory reserve

(825,829,472)

 

(825,829,472)

Retained earnings carried forward

1,694,874,941

Earnings per share (EPS)

5.57

 

 

Auditors:                                                          Rahman Rahman Huq

            Chartered Accountants

 

 

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.12,000,000,000

Paid Up Capital

Tk.4,527,257,670

Each Share Value

Tk.10.00

 

 

CURRENCY EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

130.1342

U.S Dollar

1

81.8300

European Euro

1

103.9732

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Records Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

GENERAL INFORMATION

 

Employees

3,000

Office Area (Sq. Ft)

4,980 sq.ft (rented)

Factory Area (Sq. Ft)

N/A

Warehouse Area (Sq. Ft)

N/A

Certifications

4 SUPERBRAND" for the period 2009-2011

Group Name

N/A

Subsidiaries / Affiliates

4 EBL Securities Limited

4 EBL Investments Limited

4 EBL Asset Management Limited

4 EBL Finance (HK) Limited

Stock Code

4 EBL

Enlisted With

4 Dhaka Stock Exchange Limited

4 Chittagong Stock Exchange Limited

Member

4 Dhaka Chamber of Commerce & Industries, Dhaka

4 Bangladesh Association of Bankers, Dhaka

 

 

BUSINESS TREND & PROSPECT

 

Business Scale           

Large

Business Trend

Growing

Management Capability

Good

Reputation

Good

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.86.84

Euro

1

Rs.70.21

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.