MIRA
INFORM REPORT
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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
EXPORT IMPORT BANK OF BANGLADESH LTD. |
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Registered Office : |
"SYMPHONY" Plot # SE (F): 9,
Road # 142, Gulshan Avenue, Dhaka- 1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.06.1999 |
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Com. Reg. No.: |
C-37864 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Subject is engaged in providing Commercial Banking
Services |
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No. of Employees : |
1909 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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Bangladesh |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Export Import
Bank of Bangladesh Ltd. |
|
Registered office |
: |
"SYMPHONY" Plot # SE (F): 9, Road
# 142, Gulshan Avenue, Dhaka- 1212,
Bangladesh |
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Tel No |
: |
880-2-9889363, 9891489 |
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Fax No |
: |
880-2-9889358 |
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E-mail |
: |
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Website |
: |
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Swift Co9de |
: |
EXBKBDDH |
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Date/ Year
of Incorporation |
: |
02.06.1999 |
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Registered No. |
: |
C-37864 |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar
of Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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|
Year |
Turnover/
Sales |
Assets |
Income |
|
|
2011 |
Tk. 13,122,774,352 |
Tk.129,874,424,163 |
Tk.2,009,372,842 |
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|
2012 |
Tk.17,269,324,953 |
Tk.167,056,626,119 |
Tk.2,157,631,285 |
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Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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Sales Trend – Analysis: |
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2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2010 |
2011 |
2012 |
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- |
- |
- |
- |
- |
- |
- |
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Information Parted By
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Name |
: |
Mr.
Md. Golam Mahbub |
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Designation |
: |
Company
Secretary |
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Contract No |
: |
- |
Locations Details
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Business Address |
: |
"SYMPHONY" Plot # SE (F): 9,
Road # 142, Gulshan Avenue, Dhaka-
1212, Bangladesh |
|
Tel No |
: |
880-2-9889363, 9891489 |
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E-mail |
: |
info@
eximbankbd.com |
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Fax No |
: |
880-2-8828962 |
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Website |
: |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
25,000 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential
Bldg. |
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Branches
: 72 |
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Employee: |
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No. of
Employees |
In Office |
: |
1909 |
In
Factory |
: |
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In
Branch: |
: |
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Total |
: |
1909 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
|
Md.
Nazrul Islam Mazumder |
46290373 |
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Md.
Nazrul Islam Swapan |
40891080 |
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Mr.
Mohammad Abdullah |
39909390 |
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Mrs.
Nasreen Islam |
37816208 |
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Mr.
Mohammed Shahidullah |
21030339 |
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Alhaj
Md. Nurul Amin |
21030390 |
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Mr.
mohammad omar farooque Bhuiyan |
617523 |
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Mr.
Anjan Kumar Saha |
21029836 |
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Mr.
Md. Habib Ullah Dawn |
21037784 |
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Major
Khandaker Afser(Retd) |
26285104 |
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Lt.
Col. (Retd) serajul Islam, BP (BAR) |
569539 |
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Mr.
Ranjan Chowdhury |
654459 |
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Mr.
khandaker Mohammed Saiful Alam |
645571 |
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Mrs.Asma
begum |
12616174 |
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Mrs.
Mahmuda Begum |
12616174 |
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Mrs.
Rubina Shahid |
4615225 |
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Mrs.
Ifat Akter Alin |
2766238 |
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Mrs.
Jhumur Saha |
981689 |
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Mrs.
Shoma Nasreen |
3148793 |
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Mrs.
Musfequa Islam |
13914 |
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General Public |
736920363 |
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Name |
Designation |
|
Mr. Md. Nazrul Islam Mazumder |
Chairman |
|
Dr. Mohammed Haider Ali Miah |
Managing
Director |
|
Mr. Md. Sirajul Islam |
Deputy
Managing Director |
|
Mr. Sirajul Haque Miah |
Deputy
Managing Director |
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Mr. Md. Nazrul Islam Swapan |
Director |
|
Mr. Mohammad Abdullah |
Director |
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Mrs. Nasreen Islam |
Director |
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Mr. Mohammed Shahidullah |
Director |
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Al-haj Md. Nurul Amin |
Director |
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Mr. Mohammad Omar Farooque Bhuiyan |
Director |
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Mr. Anjan Kumar Saha |
Director |
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Mr. Md. Habib Ullah Dawn |
Director |
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Major Khandaker Nurul Afser (Retd.) |
Director |
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Mr. Muhammad Sekandar Khan |
Director |
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Mr. Ranjan Chowdhury |
Director |
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Khandakar Mohammed Saiful Alam |
Director |
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Lt. Col. (Retd) Serajul Islam BP (BAR) |
Director |
MANAGEMENT
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||
|
Name |
: |
Mr. Md. Fariduddin
Ahmed |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
Managing
Director |
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Other details |
: |
- |
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Name |
: |
Mr. Md. Sirajul Islam |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
Deputy Managing Director |
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Other details |
: |
- |
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Name |
: |
Mr. Sirajul Haque Miah |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi |
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Job Description |
: |
Deputy
Managing Director |
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Other details |
: |
- |
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Name |
: |
Mr.
Md. Humayun Kabir |
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Email address |
: |
- |
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Nationality |
: |
Bangladeshi
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Job Description |
: |
Chief
Financial Officer |
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Other details |
: |
- |
BUSINESS OPERATIONS
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Nature of
Activity : |
Manufacturer |
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Banking |
Ö |
Dealer |
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Distributor |
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Exporter |
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Importer |
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Others |
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Range of Products/Item Dealings In: |
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Products |
: |
Commercial Banking Services |
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Production
Capacity |
: |
N/A |
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Last Year Production |
: |
N/A |
DETAILED DATA
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Trade Reference & Related Parties |
: |
Overseas
Clients |
: |
N/A |
Local
Clients |
: |
N/A |
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Overseas
Suppliers |
: |
N/A |
Local
Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
N/A |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
M/s. Pinaki & Co., Chartered Accountants Ahsadell, 2/A, Mymensingh Road (2nd Floor), Shahbag,
Dhaka |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
Tk.20,000,000,000.00 |
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Paid-up Capital |
: |
Tk.10,514,861,660.00 |
No.
of Shares |
: |
1,051,486,166 |
Share Value |
: |
Tk.10.00Each |
|
Main Assets |
: |
Tk.167,056,626,119 |
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FINANCIAL STATEMENT- DETAILED
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Balance Sheet : |
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Currency |
: Tk. |
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Denomination |
: 1 |
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Financial Year Ending |
: December |
Attached
|
Income Statement : |
||
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|
Currency |
: Tk. |
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Denomination |
: 1 |
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Financial Year Ending |
: December |
Attached
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
N/A |
|
Subsidiary |
: |
Exim Exchange Company (UK) Ltd. Exim Islami Investment Ltd Exim Exchange Company (Canada) Ltd. Exim Rxchange (Australia) Pty. Ltd. Exim (USa) Inc. |
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Name of The Group |
: |
N/A |
BANKING
|
|
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Bank Name
|
: |
Sonali
Bank Ltd. |
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Bank Address |
: |
Head Office Branch Motijheel,
Dhaka |
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Bank Name
|
: |
Dhaka
Bank Ltd. |
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Bank Address |
: |
Dhaka. Motijheel
Branch, |
REPUTATION
The subject bank
reputation is good in all over Bangladesh
ADVERSE DATA MONITORING
|
Dishonored Checks |
:
|
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE VISIT COMMENTARY
|
Our
representative visited the subject Bank Head office which is situated at
"SYMPHONY" Plot # SE (F): 9, Road # 142, Gulshan Avenue, Dhaka- 1212,
Bangladesh. |
GENERAL COMMENTS
|
Based
on the financial statements, SC’s financial performance appears to be Above Minimal. SC has been in its line of business for
about 14 years. |
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Adopted Abbreviations: |
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|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
UK Pound |
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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.