|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
THE HONG KONG AND SHANGHAI BANKING CORPORATION (HSBC) LIMITED |
|
|
|
|
Registered Office : |
Level 4, Shanta Western Tower, 186 Bir Uttam Mir Shawkat
Ali Road. Tejgaon Industrial Area, Dhaka 1208 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
1996 |
|
|
|
|
Legal Form : |
Offshore Banking Corporation |
|
|
|
|
Line of Business : |
General Banking |
|
|
|
|
No. of Employees : |
1,051 |
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 : |
Regular |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
The economy has grown 5-6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP.
Source
: CIA
|
Name |
The Hong Kong and Shanghai Banking Corporation (HSBC) Limited Note: The subject operates by this name. |
|
Address |
Level 4, Shanta Western
Tower, 186 Bir Uttam Mir Shawkat Ali Road. Tejgaon Industrial Area, Dhaka
1208 |
|
Country |
Bangladesh |
|
Telephone No |
880-2- 9660536-43, 880-2-8814460 |
|
Fax No |
880- 2- 9660554 |
|
E-Mail |
info@hsbc.com.bd |
|
Website |
www.hsbc.com.bd |
|
Established |
1996 |
|
Company Registration No |
The company registered in Hong Kong SAR |
|
Legal Status |
Offshore Banking Corporation |
|
Business Type |
General
Banking |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
Anchor Tower (5th
Floor), 108 Bir Uttam C. R. Dutta Road, Dhaka 1205 |
|
Telephone No |
880-2- 9660536-43 |
|
Fax No |
880- 2- 9660554 |
|
E-Mail |
info@hsbc.com.bd |
|
Website |
www.hsbc.com.bd |
|
Management Office |
Level 4, Shanta
Western Tower, 186 Bir Uttam Mir Shawkat Ali Road. Tejgaon Industrial Area,
Dhaka 1208 |
|
Branch |
21 |
|
Factory |
N/A |
|
S.W.I.F.T.: |
HSBCBDDH |
|
Name |
Mr. Andrew Tilke |
|
Designation |
Chief Executive Officer |
|
Nationality |
Unknown |
|
Line of Business |
General Banking |
|
Range of Services |
4
Personal Financial Services 4 Commercial
Banking 4
Corporate and Institutional Banking 4 Global
Markets |
Balance
Sheet
As
At 31st December, 2011
Currency:
Taka
|
PROPERTIES AND
ASSETS |
Taka |
|
Cash |
11,355,965,704 |
|
Cash in hand (including foreign currency) |
1,287,490,412 |
|
Balance with Bangladesh Bank & its agent bank (Including foreign
Currency) |
10,068,475,292 |
|
Balance with
other banks & Financial Institutions |
2,060,370,311 |
|
In Bangladesh |
197,152,351 |
|
Out side Bangladesh |
1,863,217,960 |
|
Money at Call and Short Notice |
2,858,232,500 |
|
Investments |
8,616,138,531 |
|
Government Securities |
8,610,138,521 |
|
Others |
6,000,000 |
|
Loans and Advances |
61,266,489,851 |
|
Loans, Cash Credit, Overdraft etc. |
56,981,151,580 |
|
Bills Purchased and Discounted |
4,285,338,271 |
|
|
|
|
Fixed Assets Including Premises, Furniture & Fittings |
485,133,075 |
|
Other assets |
14,354,971,932 |
|
Non-Banking Assets |
--------------- |
|
Total Assets |
100,997,301,894 |
|
|
|
|
Liabilities
& Capital |
|
|
Liabilities |
|
|
Borrowings from other Banks, Financial Institutions and Agents |
1,904,839.338 |
|
Deposit and
other accounts |
78,285,201,106 |
|
Current accounts & Other accounts including Al-Wadeeah current
deposit |
28,158,967,585 |
|
Bills Payable |
832,719,950 |
|
Savings Bank Deposits including Mudaraba deposit |
13,495,684,235 |
|
Term Deposits including Mudaraba term investments |
35,797,829,336 |
|
OTHER LIABILITES |
7,267,397,010 |
|
TOTAL LIABILITIES |
87,457,437,454 |
|
|
|
|
CAPITAL / SHAREHOLDERS' EQUITY |
|
|
Fund deposited with Bangladesh Bank
|
3,034,975,590 |
|
Other Reserve |
4,878,743 |
|
Profit & Loss account |
10,500,010,107 |
|
TOTAL SHAREHOLDERS' EQUITY |
13,539,864,440 |
|
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY |
100,997,301,894 |
Profit and Loss
Account
For the year ended
31st December 2011
Currency:
Bangladeshi Taka
|
|
2011 |
|
Interest Income |
7,037,142,156 |
|
Interest paid on Deposits & Borrowings |
2,463,931,170 |
|
Net Interest
Income |
4,573,210,986 |
|
Income from Investments |
475,782,976 |
|
Commission, Exchange Earnings & Brokerage |
5,002,630,569 |
|
Other Operating Income |
(10,322,783) |
|
Total Operating Income |
10,041,301,748 |
|
Total Operating Expenses |
2,270,234,199 |
|
Profit Before Provision |
7,771,067,549 |
|
Total Provision |
525,845,611 |
|
Profit before Tax |
7,245,221,938 |
|
Tax |
2,965,160,423 |
|
Profit after tax
for the year |
4,280,061,515 |
Note:
No latest financial information is available.
Auditors: Huda Vasi Chowdhury & Co
Chartered Accountants
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.6817 |
|
U.S Dollar |
1 |
78.0550 |
|
European Euro |
1 |
102.0257 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
1,051 |
|
Office Area (Sq.
Ft) |
3,200 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
N/A |
|
Awards |
4 Best International Islamic Bank 2011 by Euromoney 4 Best Employer Award 2010 by Bdjobs.com 4 Best Domestic Cash Management Bank in Bangladesh 2010 by
Euromoney 4 Best Emerging Markets Bank of the Year 2012 by Euromoney 4 Best Emerging Markets Debt House by Euromoney 4 The World’s Most Valuable Banking Brand by The Banker
Magazine 4 Top Banking Brand in Asia by Media Magazine and TNS |
|
Group Name |
N/A |
|
Subsidiaries /
Affiliates |
N/A |
|
Member |
4 Dhaka Chamber of Commerce &
Industries, Dhaka 4 Bangladesh Association of Bankers, Dhaka |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.