|
Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
UTTARA BANK LIMITED |
|
|
|
|
Registered Office : |
Metropolitan Shopping Plaza(1st Fl.), Gulshan Circle-2,
Dhaka-1205 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.06.1983 |
|
|
|
|
Com. Reg. No.: |
C-10876 |
|
|
|
|
Legal Form : |
Public Limited |
|
|
|
|
Line of Business : |
General Banking |
|
|
|
|
No. of Employees : |
3,562 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
In real terms Bangladesh's economy has grown 5.8% 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 |
UTTARA BANK LIMITED |
|
Address |
Metropolitan Shopping Plaza(1st Fl.), Gulshan Circle-2,
Dhaka-1205 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-8829667, 8814476 |
|
Fax No |
880-2-7168376, 9572102, 9561392 |
|
E-Mail |
ublgshan@dhaka.net, gulshan@uttarabank-bd.com |
|
Website |
www.uttarabank-bd.com |
|
Established |
1983 |
|
Company Registration No |
C-10876 |
|
Registration date |
29th June 1983 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies &
Firms, Dhaka |
|
Stock Code |
UTTARABANK |
|
Business Type |
General Banking |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers or banks. |
|
Head Office |
47, Bir Uttom Shahid Ashfaq-us-samad Road, (90, Motijheel Commercial Area),
P.O. Box No. 217 & 818, Dhaka-1000 |
|
Telephone No |
880-2-9551162-3, 9553085-6, 9558656, 9566067-9, 9565732, 9568941 |
|
Fax No |
880-2-7168376, 9572102, 9561392 |
|
E-Mail |
uttara@citechco.net |
|
Website |
|
|
Branch |
215 |
|
Factory |
N/A |
|
S.W.I.F.T.: |
UTBLBDDH |
|
Name |
Mr. Azharul Islam |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Shaikh Abdul Aziz |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Iftekharul Islam |
|
Designation |
Vice Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Badrunnessa (Sharmin) Islam |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Col. Engr. M. S. Kamal (Retd) |
|
Designation |
Independent Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Syed A. N. M. Wahed |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Major General Prof. M. A. Mohaiemen (Retd) |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Engr. Tofazzal Hossain |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Muhammad Quamrul Ahsan |
|
Designation |
Depositor Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Asif Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Faruque Alamgir |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Md. Arif Rahman |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Dr. Md. Rezaul Karim Mazumder |
|
Designation |
Independent Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. M. Tajul Islam |
|
Designation |
Depositor Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Prof. Dr. Abu Hossain
Siddique |
|
Designation |
Independent Director |
|
Nationality |
Bangladeshi |
|
Line of Business |
General Banking |
|
Range of
Services |
4 Special Loan Scheme 4 Deposit Scheme 4 International Banking 4 Online Banking 4 ATMs 4 Card Services 4 Locker Services |
Balance Sheet
As At 31 December 2012
Currency: Taka
|
PROPERTY AND ASSETS |
Taka |
|
Cash |
8,522,613,338 |
|
Cash in hand (Including Foreign Currencies) |
2,055,238,090 |
|
Balance with Bangladesh Bank and its agent
Bank(s) (including foreign currencies) |
6,467,375,248 |
|
Balance with
other Banks and financial institutions |
693,726,068 |
|
In Bangladesh |
37,458,892 |
|
Outside Bangladesh |
656,267,176 |
|
Money at call and short notice |
200,000,000 |
|
Investments |
41,998,232,796 |
|
Government |
41,837,372,042 |
|
Others |
160,860,754 |
|
Loans and Advances |
61,328,563,493 |
|
Loans, cash credits, over drafts etc. |
56,568,567,232 |
|
Bills purchased and discounted |
4,759,996,261 |
|
Fixed assets including land, building furniture and fixtures |
2,843,356,991 |
|
Other Assets |
8,030,328,459 |
|
Non Banking Assets |
76,975,748 |
|
Total Assets |
123,693,796,893 |
|
|
|
|
LIABILITIES AND CAPITAL |
|
|
Liabilities |
|
|
Borrowings from other Banks, Financial Institutions and Agents |
15,700,000,000 |
|
Deposits and Other Accounts |
93,541,400,358 |
|
Current and other accounts etc. |
32,505,531,569 |
|
Bills payable |
1,918,087,695 |
|
Saving bank deposits |
23,906,373,171 |
|
Fixed deposits |
33,686,926,205 |
|
Other deposits |
1,524,481,718 |
|
Other liabilities |
10,673,418,743 |
|
Total Liabilities |
113,884,247,704 |
|
|
|
|
Capital/Share Holders' Equity |
|
|
Paid up capital |
3,306,449,088 |
|
Statutory Reserve |
3,330,837,039 |
|
Other reserves |
2,262,442,592 |
|
Surplus in profit and loss account |
909,813,710 |
|
Total equity attributable to equity holders of the company |
9,809,542,429 |
|
Non Controlling interest |
6,760 |
|
Total Liabilities and Share Holders' Equity |
123,693,796,893 |
Profit & Loss Account
For the Year Ended 31 December 2012
Currency: Taka
|
OPERATING INCOME |
Taka |
|
Interest Income |
8,209,924,355 |
|
Interest paid on deposits, borrowings |
6,469,409,213 |
|
Net Interest Income |
1,740,515,142 |
|
Income from Investment |
3,716,097,423 |
|
Commission, Exchange and Brokerage |
942,848,379 |
|
Other Operating Income |
804,256,981 |
|
Total operating income |
7,203,717,925 |
|
OPERATING EXPENSES |
|
|
Salaries and Allowances |
2,358,396,133 |
|
Rent, Taxes, Insurances, Electricity etc |
274,419,908 |
|
Legal Expenses |
11,497,601 |
|
Postage, Stamps, Telecommunication etc |
48,680,579 |
|
Stationery, Printings, Advertisements etc |
92,438,687 |
|
Chief Executive’s Salary & Fees |
9,782,200 |
|
Directors’ Fees & Expenses |
2,323,000 |
|
Auditors’ Fees |
510,000 |
|
Charges on Loan losses account |
135,020,994 |
|
Repair, maintenance and depreciation of Bank's property |
166,540,875 |
|
Other expenses |
829,876,029 |
|
Total Operating Expenses |
3,929,486,006 |
|
Profit before provision |
3,274,231,919 |
|
Provision |
725,000,000 |
|
Provision for loans & advances & off balance sheet exposures |
720,000,000 |
|
Transfer to benevolent fund |
5,000,000 |
|
Profit before tax |
2,549,231,919 |
|
Provision for Taxation |
1,304,828,344 |
|
Current tax |
1,304,539,662 |
|
Deferred tax |
288,682 |
|
|
|
|
Profit after taxation |
1,244,403,575 |
|
Non Controlling Interest |
(483) |
|
Profit after taxation -without Non Controlling Interest |
1,244,403,092 |
|
Retained earning brought forward |
15,410,618 |
|
Profit available for appropriation |
1,259,813,710 |
|
Appropriation |
350,000,000 |
|
Statutory reserve |
350,000,000 |
|
Retained surplus |
909,813,710 |
|
Earning per share (EPS) |
3.76 |
|
Authorized
Capital |
Tk.5 billion |
|
Paid Up Capital |
Tk.2,875,173,120.00 |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
119.0817 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
101.1580 |
|
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 |
3,562 |
|
Office Area (Sq.
Ft) |
3,000 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
N/A |
|
Warehouse Area
(Sq. Ft) |
N/A |
|
Certifications |
N/A |
|
Group Name |
N/A |
|
Subsidiaries /
Affiliates |
4 Uttara Bank Securities Limited |
|
Enlisted With |
4 Dhaka Stock Exchange Limited, Dhaka 4 Chittagong Stock Exchange Limited, Chittagong |
|
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.60.74 |
|
|
1 |
Rs.92.05 |
|
Euro |
1 |
Rs.80.60 |
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.