|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMBA BANK
LIMITED |
|
|
|
|
Registered Office : |
6th Floor, Sidco
Avenue Centre Maulana Deen Muhammad Wafai Road Karachi, 74000 |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
12.11.2002 |
|
|
|
|
Legal Form : |
Public Subsidiary |
|
|
|
|
Line of Business : |
Subject engaged in commercial banking and related services. |
|
|
|
|
No. of Employees : |
439 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit: |
USD 4.55 millions |
|
Status : |
Satisfactory |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PAKISTAN - ECONOMIC OVERVIEW
Decades of
internal political disputes and low levels of foreign investment have led to
slow growth and underdevelopment in Pakistan. Agriculture accounts for more
than one-fifth of output and two-fifths of employment. Textiles account for
most of Pakistan's export earnings, and Pakistan's failure to expand a viable
export base for other manufactures has left the country vulnerable to shifts in
world demand. Official unemployment is 6%, but this fails to capture the true picture,
because much of the economy is informal and underemployment remains high. Over
the past few years, low growth and high inflation, led by a spurt in food
prices, have increased the amount of poverty - the UN Human Development Report
estimated poverty in 2011 at almost 50% of the population. Inflation has
worsened the situation, climbing from 7.7% in 2007 to more than 13% for 2011,
before declining to 9.3% at year-end. As a result of political and economic
instability, the Pakistani rupee has depreciated more than 40% since 2007. The
government agreed to an International Monetary Fund Standby Arrangement in
November 2008 in response to a balance of payments crisis. Although the economy
has stabilized since the crisis, it has failed to recover. Foreign investment
has not returned, due to investor concerns related to governance, energy,
security, and a slow-down in the global economy. Remittances from overseas
workers, averaging about $1 billion a month since March 2011, remain a bright
spot for Pakistan. However, after a small current account surplus in fiscal
year 2011 (July 2010/June 2011), Pakistan's current account turned to deficit
in the second half of 2011, spurred by higher prices for imported oil and lower
prices for exported cotton. Pakistan remains stuck in a low-income, low-growth
trap, with growth averaging 2.9% per year from 2008 to 2011. Pakistan must
address long standing issues related to government revenues and energy
production in order to spur the amount of economic growth that will be necessary
to employ its growing population. Other long term challenges include expanding
investment in education and healthcare, and reducing dependence on foreign
donors.
Source : CIA
Samba Bank Limited
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Description
|
Samba Bank Limited (the Bank) is a Pakistan-based
banking company engaged in commercial banking and related services. The Bank
operates 28 branches inside Pakistan. It operates through four segments. The
Corporate banking segment includes services provided in connection with
mergers and acquisition, underwriting, privatization, securitization,
research and debts, among others. The Trading and sales segment includes
fixed income on debt securities, equity, foreign exchanges, commodities,
credit and funding, among others. The Retail banking segment includes
retail/consumer lending and deposits, banking services, trusts and estates,
private lending and deposit and banking service, among others. The Commercial
banking segment includes project finance, real estate, export finance, trade
finance, factoring, leasing, lending, guarantees, bills of exchange and
deposits. For the nine months ended 30 September 2012, Samba Bank Limited
interest income decreased 6% to PKR2.31B. Net interest income after loan loss
provision decreased 1% to PKR1.07B. Net income increased from PKR74.8M to
PKR244.2M. Net interest income after loan loss provision reflects decrease in
interest earning assets and increase in interest bearing liabilities. Net
income reflects Interest Expensed decrease of 9% to PKR1.29B (expense). |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
|
|
NAICS 2002: |
|
|
UK SIC 2003: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
|
|
|
|
Key Executives
|
Significant
Developments
|
Financial Summary
|
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = PKR 86.34652
2 - Balance Sheet Item Exchange Rate: USD 1 = PKR 89.91
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Samba Bank Limited |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Riyadh |
Saudi Arabia |
Commercial Banks |
1,749.8 |
3,057 |
|
|
Subsidiary |
Jeddah |
Saudi Arabia |
Commercial Banks |
|
2,300 |
|
|
Subsidiary |
Karachi |
Pakistan |
Commercial Banks |
18.1 |
439 |
|
|
Subsidiary |
Al Khobar |
Saudi Arabia |
Electronic Instruments and Controls |
33.7 |
155 |
|
|
Subsidiary |
Al Khobar |
Saudi Arabia |
Rental and Leasing |
|
|
Executives
Report
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in:
USD (mil) |
|
|
Except for
share items (millions) and per share items (actual units) |
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate (Period Average) |
86.346516 |
85.183279 |
81.692096 |
70.718347 |
60.729836 |
|
Auditor |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Interest on
Deposits |
38.8 |
28.0 |
23.0 |
24.9 |
19.5 |
|
Interest Income, Bank |
38.8 |
28.0 |
23.0 |
24.9 |
19.5 |
|
Interest on Deposit |
22.5 |
15.9 |
15.4 |
15.1 |
13.8 |
|
Total Interest Expense |
22.5 |
15.9 |
15.4 |
15.1 |
13.8 |
|
Net Interest Income |
16.3 |
12.1 |
7.6 |
9.7 |
5.7 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
-0.5 |
0.1 |
2.8 |
3.1 |
13.7 |
|
Net Interest Income after Loan Loss
Provision |
16.8 |
12.0 |
4.8 |
6.6 |
-8.1 |
|
|
|
|
|
|
|
|
Fees &
Commissions from Operations |
0.7 |
0.9 |
0.5 |
0.7 |
0.4 |
|
Investment
Securities Gains |
0.2 |
0.3 |
0.0 |
0.1 |
0.9 |
|
Other Unusual
Income |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Revenue |
0.8 |
2.3 |
1.1 |
0.9 |
0.8 |
|
Non-Interest Income, Bank |
1.8 |
3.8 |
1.7 |
1.8 |
2.1 |
|
Labor & Related
Expenses |
-8.1 |
-7.7 |
-7.8 |
-10.1 |
-8.1 |
|
Depreciation
Expense |
-1.7 |
-1.8 |
-2.0 |
-1.6 |
-1.2 |
|
Amortization of
Intangibles |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Other Expense |
-6.4 |
-7.8 |
-9.8 |
-10.9 |
-7.3 |
|
Non-Interest Expense, Bank |
-16.3 |
-17.3 |
-19.6 |
-22.7 |
-16.7 |
|
Income Before Tax |
2.3 |
-1.5 |
-13.1 |
-14.3 |
-22.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
-0.4 |
-0.1 |
-5.8 |
-3.8 |
-0.8 |
|
Income After Tax |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
Net Income |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord
Items |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1,433.5 |
1,226.1 |
877.0 |
877.0 |
727.0 |
|
Basic EPS Excl Extraord Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Basic/Primary EPS Incl Extraord Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
Diluted Weighted Average Shares |
1,433.5 |
1,226.1 |
877.0 |
877.0 |
727.0 |
|
Diluted EPS Excl Extraord Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Diluted EPS Incl Extraord Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Dividends per Share - Common Stock Primary
Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
1.7 |
1.8 |
2.0 |
1.6 |
1.2 |
|
Total Special Items |
- |
-0.3 |
-0.1 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
2.3 |
-1.9 |
-13.2 |
-14.3 |
-22.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
-0.4 |
-0.2 |
-5.9 |
-3.8 |
-0.8 |
|
Normalized Income After Tax |
2.7 |
-1.6 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2.7 |
-1.6 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Diluted Normalized EPS |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Amort of Intangibles, Supplemental |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Rental Expenses |
3.0 |
2.7 |
2.6 |
2.9 |
1.6 |
|
Advertising Expense, Supplemental |
0.1 |
0.1 |
0.1 |
1.0 |
0.1 |
|
Bank Total Revenue |
18.1 |
15.9 |
9.3 |
11.5 |
7.8 |
|
Current Tax -
Domestic |
0.4 |
0.3 |
0.0 |
0.0 |
0.2 |
|
Current Tax - Total |
0.4 |
0.3 |
0.0 |
0.0 |
0.2 |
|
Deferred Tax -
Total |
1.8 |
-0.6 |
-5.8 |
-3.8 |
-1.0 |
|
Deferred Tax - Total |
1.8 |
-0.6 |
-5.8 |
-3.8 |
-1.0 |
|
Other Tax |
-2.6 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
-0.4 |
-0.1 |
-5.8 |
-3.8 |
-0.8 |
|
Defined Contribution Expense - Domestic |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Total Pension Expense |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
89.91 |
85.645 |
84.325 |
79.125 |
61.625 |
|
Auditor |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
25.9 |
44.8 |
56.8 |
43.2 |
156.3 |
|
Total Investment
Securities |
107.5 |
129.5 |
68.9 |
48.4 |
64.1 |
|
Other Earning Assets, Total |
107.5 |
129.5 |
68.9 |
48.4 |
64.1 |
|
Total Gross Loans |
204.4 |
172.2 |
146.4 |
108.8 |
- |
|
Loan Loss
Allowances |
-28.3 |
-30.5 |
-31.1 |
-30.9 |
- |
|
Net Loans |
176.1 |
141.7 |
115.3 |
77.9 |
- |
|
Buildings |
6.6 |
7.6 |
7.9 |
8.4 |
10.8 |
|
Machinery/Equipment |
11.1 |
11.4 |
11.3 |
10.7 |
7.6 |
|
Construction
in Progress |
0.7 |
0.2 |
0.2 |
0.5 |
0.2 |
|
Property/Plant/Equipment
- Gross |
18.4 |
19.2 |
19.5 |
19.6 |
18.6 |
|
Accumulated
Depreciation |
-8.5 |
-7.7 |
-6.5 |
-5.2 |
-5.0 |
|
Property/Plant/Equipment - Net |
9.9 |
11.5 |
13.0 |
14.4 |
13.7 |
|
Intangibles - Gross |
0.6 |
0.6 |
0.6 |
0.5 |
0.5 |
|
Accumulated
Intangible Amortization |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
|
Intangibles, Net |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Deferred Income Tax
- Long Term Asset |
16.0 |
18.7 |
18.4 |
13.7 |
13.1 |
|
Other Long Term Assets, Total |
16.0 |
18.7 |
18.4 |
13.7 |
13.1 |
|
Other Assets |
13.0 |
9.9 |
8.9 |
10.6 |
87.9 |
|
Other Assets, Total |
13.0 |
9.9 |
8.9 |
10.6 |
87.9 |
|
Total Assets |
348.5 |
356.3 |
281.5 |
208.4 |
335.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
5.9 |
1.4 |
0.9 |
0.7 |
17.2 |
|
Interest Bearing
Deposits |
143.3 |
118.7 |
102.0 |
103.1 |
163.2 |
|
Other Deposits |
53.2 |
54.9 |
46.5 |
21.5 |
- |
|
Total Deposits |
196.5 |
173.6 |
148.5 |
124.6 |
205.2 |
|
Fed Funds
Purch/Secs Sold under Repurch Agrmnt |
7.6 |
56.7 |
18.2 |
2.4 |
0.0 |
|
Other Short Term
Borrowings |
36.8 |
19.6 |
19.1 |
3.1 |
3.0 |
|
Total Short Term Borrowings |
44.4 |
76.3 |
37.3 |
5.5 |
3.0 |
|
Capital Lease
Obligations |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Debt |
44.4 |
76.3 |
37.3 |
5.5 |
3.0 |
|
|
|
|
|
|
|
|
Other Liabilities |
10.6 |
12.4 |
10.9 |
8.5 |
9.2 |
|
Other Liabilities, Total |
10.6 |
12.4 |
10.9 |
8.5 |
9.2 |
|
Total Liabilities |
257.5 |
263.7 |
197.6 |
139.3 |
234.5 |
|
|
|
|
|
|
|
|
Common Stock |
159.4 |
167.4 |
104.0 |
110.8 |
142.3 |
|
Common Stock |
159.4 |
167.4 |
104.0 |
110.8 |
142.3 |
|
Additional Paid-In Capital |
0.2 |
0.2 |
0.2 |
0.3 |
0.3 |
|
Retained Earnings (Accumulated Deficit) |
-68.8 |
-75.0 |
-46.3 |
-41.9 |
-41.7 |
|
Unrealized Gain (Loss) |
0.1 |
-0.1 |
0.0 |
-0.2 |
-0.3 |
|
Other Equity |
- |
0.0 |
26.0 |
0.0 |
- |
|
Other Equity, Total |
- |
0.0 |
26.0 |
0.0 |
- |
|
Total Equity |
91.0 |
92.5 |
83.9 |
69.0 |
100.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’
Equity |
348.5 |
356.3 |
281.5 |
208.4 |
335.2 |
|
|
|
|
|
|
|
|
Shares Outstanding
- Common Stock Primary Issue |
1,433.5 |
1,433.5 |
877.0 |
877.0 |
877.0 |
|
Total Common Shares Outstanding |
1,433.5 |
1,433.5 |
877.0 |
877.0 |
877.0 |
|
Employees |
439 |
432 |
420 |
568 |
533 |
|
Number of Common Shareholders |
- |
6,935 |
7,026 |
6,317 |
6,611 |
|
Accumulated Intangible Amort, Suppl. |
0.4 |
0.4 |
0.4 |
0.3 |
0.3 |
|
Total Risk-Weighted Capital |
0.2 |
0.2 |
0.1 |
- |
- |
|
Total Long Term Debt, Supplemental |
44.4 |
76.3 |
- |
- |
- |
|
Long Term Debt Maturing within 1 Year |
43.6 |
75.1 |
- |
- |
- |
|
Long Term Debt Maturing in Year 2 |
0.2 |
0.0 |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
0.2 |
0.9 |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
0.1 |
0.0 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
0.1 |
0.0 |
- |
- |
- |
|
Long Term Debt Maturing in Year 6 |
0.0 |
0.1 |
- |
- |
- |
|
Long Term Debt Maturing in Year 7 |
0.0 |
0.1 |
- |
- |
- |
|
Long Term Debt Maturing in Year 8 |
0.0 |
0.1 |
- |
- |
- |
|
Long Term Debt Maturing in Year 9 |
0.0 |
0.1 |
- |
- |
- |
|
Long Term Debt Maturing in Year 10 |
0.0 |
0.1 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
0.4 |
0.9 |
- |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
0.1 |
0.0 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 &
Beyond |
0.2 |
0.3 |
- |
- |
- |
|
Interest Costs |
- |
- |
- |
- |
0.0 |
|
Total Capital Leases, Supplemental |
- |
- |
- |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 1 |
- |
- |
- |
0.0 |
0.1 |
|
Capital Lease Payments Due in Year 2 |
- |
- |
- |
0.0 |
0.0 |
|
Capital Lease Payments Due in Year 3 |
- |
- |
- |
0.0 |
0.0 |
|
Capital Lease Payments Due in Year 4 |
- |
- |
- |
0.0 |
0.0 |
|
Capital Lease Payments Due in Year 5 |
- |
- |
- |
0.0 |
0.0 |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
- |
0.0 |
0.0 |
|
Capital Lease Payments Due in 4-5 Years |
- |
- |
- |
0.0 |
0.0 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate (Period Average) |
86.346516 |
85.183279 |
81.692096 |
70.718347 |
60.729836 |
|
Auditor |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified with Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2.3 |
-1.5 |
-13.1 |
-14.3 |
-22.6 |
|
Depreciation |
1.7 |
1.8 |
2.0 |
1.6 |
1.2 |
|
Depreciation/Depletion |
1.7 |
1.8 |
2.0 |
1.6 |
1.2 |
|
Amortization of
Intangibles |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Amortization |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Unusual Items |
-0.5 |
-0.3 |
-0.1 |
0.0 |
0.0 |
|
Other Non-Cash
Items |
0.0 |
-0.4 |
1.8 |
1.2 |
1.3 |
|
Non-Cash Items |
-0.5 |
-0.7 |
1.7 |
1.2 |
1.3 |
|
Loan Loss Provision |
-0.5 |
0.1 |
2.8 |
3.1 |
13.7 |
|
Other Assets |
-36.9 |
-9.6 |
-25.6 |
28.8 |
-188.9 |
|
Payable/Accrued |
4.8 |
0.4 |
0.3 |
-14.2 |
16.6 |
|
Other Liabilities |
1.7 |
69.4 |
66.7 |
-35.3 |
112.8 |
|
Other Operating
Cash Flow |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.9 |
|
Investment
Securities, Gains/Losses |
-0.2 |
-0.3 |
0.0 |
-0.1 |
-0.9 |
|
Changes in Working Capital |
-31.3 |
60.1 |
44.0 |
-17.7 |
-45.7 |
|
Cash from Operating Activities |
-27.7 |
59.7 |
34.6 |
-29.2 |
-65.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed
Assets |
-0.9 |
-0.7 |
-1.0 |
-5.1 |
-1.4 |
|
Capital Expenditures |
-0.9 |
-0.7 |
-1.0 |
-5.1 |
-1.4 |
|
Sale of Business |
0.0 |
1.4 |
0.0 |
- |
- |
|
Sale of Fixed
Assets |
0.7 |
0.4 |
0.3 |
0.1 |
0.1 |
|
Investment, Net |
17.1 |
-63.5 |
-53.8 |
34.7 |
-28.8 |
|
Other Investing
Cash Flow |
0.0 |
0.3 |
0.0 |
0.2 |
0.5 |
|
Other Investing Cash Flow Items, Total |
17.9 |
-61.4 |
-53.5 |
34.9 |
-28.3 |
|
Cash from Investing Activities |
17.0 |
-62.1 |
-54.5 |
29.8 |
-29.7 |
|
|
|
|
|
|
|
|
Other Financing
Cash Flow |
0.0 |
-0.3 |
26.8 |
-0.1 |
-0.1 |
|
Financing Cash Flow Items |
0.0 |
-0.3 |
26.8 |
-0.1 |
-0.1 |
|
Sale/Issuance
of Common |
0.0 |
11.9 |
0.0 |
0.0 |
98.0 |
|
Common Stock, Net |
0.0 |
11.9 |
0.0 |
0.0 |
98.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
11.9 |
0.0 |
0.0 |
98.0 |
|
Long
Term Debt Reduction |
0.0 |
0.0 |
- |
- |
- |
|
Long Term Debt, Net |
0.0 |
0.0 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
0.0 |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
0.0 |
11.5 |
26.8 |
-0.1 |
97.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-10.7 |
9.1 |
6.9 |
0.5 |
2.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
28.3 |
19.6 |
13.5 |
15.1 |
15.1 |
|
Net Cash - Ending Balance |
17.6 |
28.7 |
20.4 |
15.6 |
17.6 |
|
Cash Taxes Paid |
0.1 |
0.0 |
0.1 |
0.1 |
-0.9 |
|
Financials in:
USD (mil) |
|
|
Except for
share items (millions) and per share items (actual units) |
|
|
|
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate (Period Average) |
86.346516 |
85.183279 |
81.692096 |
70.718347 |
60.729836 |
|
Auditor |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest Earned |
38.8 |
28.0 |
23.0 |
24.9 |
19.5 |
|
Total Revenue |
38.8 |
28.0 |
23.0 |
24.9 |
19.5 |
|
|
|
|
|
|
|
|
Interest Expensed |
22.5 |
15.9 |
15.4 |
15.1 |
13.8 |
|
Reversal of
Provision |
-0.5 |
0.1 |
2.8 |
3.1 |
13.7 |
|
Total Operating Expense |
22.0 |
16.0 |
18.2 |
18.2 |
27.5 |
|
|
|
|
|
|
|
|
Provision for
Dimunition |
0.0 |
-0.1 |
-0.2 |
-1.3 |
-1.4 |
|
Bad Debts Written
Off |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Fee, Comission and
Brokerage Income |
0.7 |
0.9 |
0.5 |
0.7 |
0.4 |
|
Dividend Income |
0.0 |
0.3 |
0.0 |
0.2 |
0.5 |
|
Income from Dealing
in Foreign Companies |
0.2 |
0.7 |
0.9 |
0.1 |
-0.1 |
|
Capital Gains on
Sale of Shares |
0.2 |
0.3 |
0.0 |
0.1 |
0.9 |
|
Gain/Loss on
Revaluation of Investment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Profit on Sale
of Property |
- |
0.3 |
0.1 |
0.0 |
0.0 |
|
Other Income |
0.5 |
1.4 |
0.2 |
0.6 |
0.4 |
|
Worker's Welfare
Fund |
0.0 |
0.0 |
- |
- |
- |
|
Salaries |
-7.7 |
-7.4 |
-7.5 |
-9.8 |
-7.9 |
|
Contribution to
P.F. |
-0.2 |
-0.2 |
-0.2 |
-0.3 |
-0.2 |
|
Director's Fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Rent, Taxes and
Insurance |
-3.0 |
-2.7 |
-2.6 |
-2.9 |
-1.6 |
|
Legal and
Professional Charges |
-0.1 |
-0.2 |
-0.3 |
-0.4 |
-0.5 |
|
Communications |
-1.0 |
-1.1 |
-2.3 |
-1.5 |
-0.8 |
|
Repairs and
Maintenance |
-0.7 |
-0.8 |
-0.6 |
-0.9 |
-0.7 |
|
Finance Charges on
Leased Assets |
- |
- |
- |
0.0 |
0.0 |
|
Stationery and
Printing |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
-0.3 |
|
Advertisment and
Publicity |
-0.1 |
-0.1 |
-0.1 |
-1.0 |
-0.1 |
|
Auditor's
Remuneration |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Depreciation |
-1.7 |
-1.8 |
-2.0 |
-1.6 |
-1.2 |
|
Amortization of
Intangible Assets |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Travelling and
Conveyance |
-0.2 |
-0.1 |
-0.2 |
-0.8 |
-0.5 |
|
Charges Paid to
Central Depository |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Security Services |
-0.3 |
-0.3 |
-0.4 |
-0.3 |
-0.2 |
|
Donation |
0.0 |
0.0 |
0.0 |
- |
- |
|
Others |
-0.7 |
-1.8 |
-0.6 |
-0.7 |
-0.5 |
|
Provision for Contingencies |
-0.1 |
-0.1 |
-1.6 |
0.0 |
-0.5 |
|
Other Charges |
0.0 |
-0.1 |
-0.5 |
-0.7 |
0.0 |
|
Total Non-Interest Revenue |
1.8 |
3.8 |
1.7 |
1.8 |
2.1 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-16.3 |
-17.3 |
-19.6 |
-22.7 |
-16.7 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
2.3 |
-1.5 |
-13.1 |
-14.3 |
-22.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-0.4 |
-0.1 |
-5.8 |
-3.8 |
-0.8 |
|
Net Income After Taxes |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
Net Income |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,433.5 |
1,226.1 |
877.0 |
877.0 |
727.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Basic EPS Including ExtraOrdinary Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
2.7 |
-1.4 |
-7.3 |
-10.5 |
-21.8 |
|
Diluted Weighted Average Shares |
1,433.5 |
1,226.1 |
877.0 |
877.0 |
727.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Diluted EPS Including ExtraOrd Items |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
2.3 |
-1.9 |
-13.2 |
-14.3 |
-22.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-0.4 |
-0.2 |
-5.9 |
-3.8 |
-0.8 |
|
Normalized Income After Taxes |
2.7 |
-1.6 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2.7 |
-1.6 |
-7.3 |
-10.5 |
-21.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Diluted Normalized EPS |
0.00 |
0.00 |
-0.01 |
-0.01 |
-0.03 |
|
Rentals |
3.0 |
2.7 |
2.6 |
2.9 |
1.6 |
|
Advertisment and Publicity |
0.1 |
0.1 |
0.1 |
1.0 |
0.1 |
|
Depreciation |
1.7 |
1.8 |
2.0 |
1.6 |
1.2 |
|
Amortization of Intangibles |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Current
Tax-Domestic |
0.4 |
0.3 |
0.0 |
0.0 |
0.2 |
|
Current Tax - Total |
0.4 |
0.3 |
0.0 |
0.0 |
0.2 |
|
Deferred Tax |
1.8 |
-0.6 |
-5.8 |
-3.8 |
-1.0 |
|
Deferred Tax - Total |
1.8 |
-0.6 |
-5.8 |
-3.8 |
-1.0 |
|
Prior Years |
-2.6 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
-0.4 |
-0.1 |
-5.8 |
-3.8 |
-0.8 |
|
Defined Contribution Plan |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Total Pension Expense |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
89.91 |
85.645 |
84.325 |
79.125 |
61.625 |
|
Auditor |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Balances |
16.3 |
14.6 |
11.4 |
9.8 |
16.3 |
|
Balances |
0.7 |
14.0 |
8.4 |
4.2 |
1.0 |
|
Lending |
8.9 |
16.2 |
37.0 |
29.2 |
139.0 |
|
Investments |
107.5 |
129.5 |
68.9 |
48.4 |
64.1 |
|
Advances |
- |
- |
- |
- |
76.2 |
|
Advances, Gross |
204.4 |
172.2 |
146.4 |
108.8 |
- |
|
Provision Against
Advances |
-28.3 |
-30.5 |
-31.1 |
-30.9 |
- |
|
Deferred Tax Assets |
16.0 |
18.7 |
18.4 |
13.7 |
13.1 |
|
Other Assets |
13.0 |
9.9 |
8.9 |
10.6 |
11.7 |
|
Freehold Land |
5.0 |
5.3 |
5.4 |
5.8 |
7.4 |
|
Building on Freehold
Land |
1.6 |
2.3 |
2.5 |
2.7 |
3.4 |
|
Furniture and
Office Fixtures |
4.3 |
4.4 |
4.6 |
3.9 |
2.7 |
|
Electrical, Office
& Computer Equip. |
5.6 |
5.8 |
5.7 |
5.4 |
3.5 |
|
Vehicles |
1.2 |
1.2 |
0.9 |
1.3 |
1.1 |
|
Fin. Lease-Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.3 |
|
Accumulated
Depreciation |
-8.5 |
-7.7 |
-6.5 |
-5.2 |
-5.0 |
|
Capital WIP |
0.7 |
0.2 |
0.2 |
0.5 |
0.2 |
|
Computer Software |
0.6 |
0.6 |
0.6 |
0.5 |
0.5 |
|
Accumulated
Amortization |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
|
Equipment |
- |
- |
- |
- |
0.0 |
|
Total Assets |
348.5 |
356.3 |
281.5 |
208.4 |
335.2 |
|
|
|
|
|
|
|
|
Bills Payable |
5.9 |
1.4 |
0.9 |
0.7 |
17.2 |
|
Borrowings from SBP |
26.9 |
13.5 |
15.3 |
2.8 |
2.5 |
|
Repurchase
Agreement |
7.6 |
56.7 |
18.2 |
2.4 |
0.0 |
|
Term Finance
Certificate |
- |
- |
- |
0.0 |
0.1 |
|
Call Money
Borrowings |
9.7 |
5.8 |
3.6 |
0.0 |
- |
|
Bankers Equity Ltd |
0.2 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Fixed Deposits |
94.4 |
73.8 |
70.9 |
86.2 |
112.3 |
|
Savings Deposits |
49.0 |
45.0 |
31.1 |
16.9 |
50.9 |
|
Other Deposits |
53.2 |
54.9 |
46.5 |
21.5 |
- |
|
Deposits and Other
Accounts |
- |
- |
- |
- |
42.0 |
|
Sub-ordinated Loans |
- |
- |
- |
- |
0.0 |
|
Other Liabilties |
10.6 |
12.4 |
10.9 |
8.5 |
9.2 |
|
Liabilties Against
Assets- Finance Lease |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Total Liabilities |
257.5 |
263.7 |
197.6 |
139.3 |
234.5 |
|
|
|
|
|
|
|
|
Share Capital |
159.4 |
167.4 |
104.0 |
110.8 |
142.3 |
|
Capital Reserve |
0.2 |
0.2 |
0.2 |
0.3 |
0.3 |
|
Statutory Reserve |
0.8 |
0.3 |
0.3 |
0.3 |
0.4 |
|
Advance share Subcription
Money Receiv. |
- |
0.0 |
26.0 |
0.0 |
- |
|
Unappropriated
Profit |
-69.5 |
-75.2 |
-46.6 |
-42.2 |
-42.1 |
|
Revaluation of
Assets |
0.1 |
-0.1 |
0.0 |
-0.2 |
-0.3 |
|
Total Equity |
91.0 |
92.5 |
83.9 |
69.0 |
100.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders'
Equity |
348.5 |
356.3 |
281.5 |
208.4 |
335.2 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
1,433.5 |
1,433.5 |
877.0 |
877.0 |
877.0 |
|
Total Common Shares Outstanding |
1,433.5 |
1,433.5 |
877.0 |
877.0 |
877.0 |
|
Accumulated Intangible Amortisation |
0.4 |
0.4 |
0.4 |
0.3 |
0.3 |
|
Total Risk-Weighted Capital |
209.4 |
176.2 |
146.0 |
- |
- |
|
Full-Time Employees |
439 |
432 |
420 |
568 |
533 |
|
Shareholders |
- |
6,935 |
7,026 |
6,317 |
6,611 |
|
Long Term Debt Maturing within 1 Year |
43.6 |
75.1 |
- |
- |
- |
|
Long Term Debt Maturing in Year 2 |
0.2 |
0.0 |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
0.2 |
0.9 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
0.1 |
0.0 |
- |
- |
- |
|
Long Term Debt Maturing in Year 10 |
0.2 |
0.3 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
44.4 |
76.3 |
- |
- |
- |
|
Capital Lease Maturing Within 1 Year |
- |
- |
- |
0.0 |
0.1 |
|
Capital Lease Maturing Within 5 Years |
- |
- |
- |
0.0 |
0.0 |
|
Less:Finance Costs |
- |
- |
- |
- |
0.0 |
|
Total Capital Leases, Supplemental |
- |
- |
- |
0.0 |
0.1 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate (Period Average) |
86.346516 |
85.183279 |
81.692096 |
70.718347 |
60.729836 |
|
Auditor |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
A F Ferguson & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
2.3 |
-1.5 |
-13.1 |
-14.3 |
-22.6 |
|
Depreciation |
1.7 |
1.8 |
2.0 |
1.6 |
1.2 |
|
Dividend Income |
0.0 |
-0.3 |
0.0 |
-0.2 |
-0.5 |
|
Amortization |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Reversal of
Provision |
-0.5 |
0.1 |
2.8 |
3.1 |
13.7 |
|
Financial Charges
on Leased Assets |
- |
- |
0.0 |
0.0 |
0.0 |
|
Provision for
Diminution |
0.0 |
0.1 |
0.2 |
1.3 |
1.4 |
|
Bad Debts Written
Off |
- |
- |
- |
0.0 |
0.1 |
|
Reversal of Prov.
against bad & doubtful |
0.0 |
-0.1 |
0.0 |
- |
- |
|
Reversal of Prov.
against off balance sh |
0.0 |
-0.3 |
0.0 |
- |
- |
|
Gain on Sale of
Securities |
-0.2 |
-0.3 |
0.0 |
-0.1 |
-0.9 |
|
Prov. Against Other
Assets |
0.1 |
0.1 |
1.6 |
0.0 |
0.4 |
|
Gain on Sale of
Fixed Assets |
-0.5 |
-0.3 |
-0.1 |
0.0 |
0.0 |
|
Lendings to Financial
Institutions |
6.8 |
20.4 |
-9.9 |
88.4 |
-132.9 |
|
Held for Trading
Securities |
0.0 |
0.0 |
29.7 |
-34.3 |
0.0 |
|
Advances |
-42.3 |
-28.5 |
-46.3 |
-23.9 |
-51.7 |
|
Other Assets |
-1.5 |
-1.5 |
0.9 |
-1.4 |
-4.3 |
|
Bills Payable |
4.8 |
0.4 |
0.3 |
-14.2 |
16.6 |
|
Borrowings from
Other Financial Inst. |
-29.4 |
39.8 |
33.1 |
3.6 |
-4.3 |
|
Deposits and Other
Accounts |
32.4 |
27.6 |
32.6 |
-39.4 |
116.4 |
|
Other Liabilities |
-1.3 |
1.9 |
1.0 |
0.5 |
0.7 |
|
Income Tax- Paid |
-0.1 |
0.0 |
-0.1 |
-0.1 |
0.9 |
|
Cash from Operating Activities |
-27.7 |
59.7 |
34.6 |
-29.2 |
-65.7 |
|
|
|
|
|
|
|
|
Net Investments in
AFS Securities |
17.1 |
-63.5 |
-53.8 |
34.7 |
-28.8 |
|
Dividend Income |
0.0 |
0.3 |
0.0 |
0.2 |
0.5 |
|
Investments in
Operating Fixed Assets |
-0.9 |
-0.7 |
-1.0 |
-5.1 |
-1.4 |
|
Sale Proceeds of
Property and Equip. |
0.7 |
0.4 |
0.3 |
0.1 |
0.1 |
|
Proceeds from sale
of investment in assi |
0.0 |
1.4 |
0.0 |
- |
- |
|
Cash from Investing Activities |
17.0 |
-62.1 |
-54.5 |
29.8 |
-29.7 |
|
|
|
|
|
|
|
|
Payments of lease
obligation |
0.0 |
0.0 |
- |
- |
- |
|
Issue of Share
Capital to Shareholders |
0.0 |
11.9 |
0.0 |
0.0 |
98.0 |
|
Advance Share
Subscrip. Money Receiv. |
- |
0.0 |
26.8 |
0.0 |
- |
|
Share Issue Cost |
0.0 |
-0.3 |
0.0 |
- |
- |
|
Payment of Lease
Obligation |
- |
- |
0.0 |
-0.1 |
-0.1 |
|
Cash from Financing Activities |
0.0 |
11.5 |
26.8 |
-0.1 |
97.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-10.7 |
9.1 |
6.9 |
0.5 |
2.5 |
|
|
|
|
|
|
|
|
Cash Balance-Beginning |
28.3 |
19.6 |
13.5 |
15.1 |
15.1 |
|
Cash Balance-Ending |
17.6 |
28.7 |
20.4 |
15.6 |
17.6 |
|
Cash Taxes Paid |
0.1 |
0.0 |
0.1 |
0.1 |
-0.9 |
|
Financials in:
USD (mil) |
|
|
Except for
share items (millions) and per share items (actual units) |
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Financials in:
USD (mil) |
|
|
Except for share
items (millions) and per share items (actual units) |
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
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.