|
Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL ARAFAH ISLAMI
BANK LTD |
|
|
|
|
Registered Office : |
36, (6-9 Floor),
Dilkusha C/A Dhaka, 1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
1995 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
Commercial Banking |
|
|
|
|
No. of Employees : |
1,807 |
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
Al Arafah Islami Bank Ltd
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Business Description
|
Al-Arafah Islami Bank Ltd (The Bank) is a
Bangladesh-based Company. The Bank is an interest free Shanah Bank of
Bangladesh rendering all types of commercial banking services. The Bank
provides a range of financial services, including commercial banking,
consumer banking, trade finance and other related custody and clearing
services to the customers. The Bank also carries out brokerage activities
through its capital market services division (CMSD). The Bank is engaged in
buying and selling of securities for its own and its customers through CMSD.
Al-Arafah Islami Bank Ltd also extends margin investment to its customers
against their margin for investment in the listed companies. For the nine
months ended 30 September 2012, Al Arafah Islami Bank Ltd interest income
increased 45% to BDT3.86B. Net interest income after loan loss provision
increased 26% to BDT3.3B. Net income increased 28% to BDT2.17B. Net interest
income after loan loss provision reflects Investment Income increase of 65% to
BDT10.75B. Net income benefited from Income from Investment in Shares &
Secur increase from BDT45.1M to BDT609.7M (income). |
Industry
|
Industry |
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|
ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
|
Significant Developments
|
Financial Summary
|
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = BDT 74.04171
2 - Balance Sheet Item Exchange Rate: USD 1 = BDT 81.83
|
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EXEcUTIVES Report
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|
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 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
|
|
|
|
|
|
|
Interest &
Dividends on Investment Securities |
128.0 |
61.9 |
58.0 |
50.4 |
|
Interest on
Deposits |
-73.8 |
-45.0 |
-38.6 |
-32.4 |
|
Interest Income, Bank |
54.2 |
16.9 |
19.4 |
18.0 |
|
Net Interest Income |
54.2 |
16.9 |
19.4 |
18.0 |
|
|
|
|
|
|
|
Loan Loss Provision |
5.1 |
5.3 |
2.0 |
3.9 |
|
Net Interest Income after Loan Loss
Provision |
49.1 |
11.5 |
17.3 |
14.1 |
|
|
|
|
|
|
|
Commissions &
Fees from Securities Activities |
21.0 |
29.5 |
15.8 |
10.1 |
|
Investment
Securities Gains |
1.4 |
0.5 |
0.2 |
1.7 |
|
Other Revenue |
2.6 |
18.6 |
2.8 |
1.9 |
|
Non-Interest Income, Bank |
25.0 |
48.5 |
18.8 |
13.7 |
|
Labor & Related
Expenses |
-12.4 |
-10.3 |
-8.0 |
-6.1 |
|
Depreciation
Expense |
-1.5 |
-1.1 |
-0.9 |
-0.6 |
|
Other Unusual
Expense |
- |
- |
0.0 |
0.0 |
|
Other Expense |
-6.9 |
-7.7 |
-4.2 |
-2.6 |
|
Non-Interest Expense, Bank |
-20.8 |
-19.1 |
-13.2 |
-9.4 |
|
Income Before Tax |
53.3 |
41.0 |
23.0 |
18.4 |
|
|
|
|
|
|
|
Total Income Tax |
23.6 |
12.8 |
10.6 |
8.6 |
|
Income After Tax |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Net Income Before Extraord Items |
29.7 |
28.1 |
12.4 |
9.7 |
|
Net Income |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord
Items |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord
Items |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
713.1 |
713.1 |
713.1 |
713.1 |
|
Basic EPS Excl Extraord Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Diluted Net Income |
29.7 |
28.1 |
12.4 |
9.7 |
|
Diluted Weighted Average Shares |
713.1 |
713.1 |
713.1 |
713.1 |
|
Diluted EPS Excl Extraord Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Diluted EPS Incl Extraord Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Dividends per Share - Common Stock Primary
Issue |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
1.5 |
1.1 |
0.9 |
0.6 |
|
Total Special Items |
- |
- |
0.0 |
0.0 |
|
Normalized Income Before Tax |
53.3 |
41.0 |
23.0 |
18.4 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
23.6 |
12.8 |
10.6 |
8.6 |
|
Normalized Income After Tax |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.04 |
0.02 |
0.01 |
|
Diluted Normalized EPS |
0.04 |
0.04 |
0.02 |
0.01 |
|
Rental Expenses |
1.3 |
1.3 |
0.7 |
0.6 |
|
Advertising Expense, Supplemental |
0.2 |
0.2 |
0.1 |
0.1 |
|
Bank Total Revenue |
79.2 |
65.4 |
38.2 |
31.7 |
|
Current Tax -
Domestic |
23.4 |
12.5 |
8.6 |
9.0 |
|
Current Tax - Total |
23.4 |
12.5 |
8.6 |
9.0 |
|
Deferred Tax -
Domestic |
0.2 |
0.3 |
2.0 |
-0.4 |
|
Deferred Tax - Total |
0.2 |
0.3 |
2.0 |
-0.4 |
|
Income Tax - Total |
23.6 |
12.8 |
10.6 |
8.6 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Reclassified Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
ACNABIN |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
|
|
|
|
|
|
|
Cash & Due from Banks |
104.7 |
71.7 |
66.9 |
55.9 |
|
Fed Funds
Sold/Securities Purch Under Resale Agrmnt |
119.8 |
116.4 |
40.4 |
31.9 |
|
Other Short Term
Investments |
949.7 |
760.3 |
521.7 |
402.6 |
|
Securities
for Sale |
46.1 |
29.5 |
21.7 |
15.8 |
|
Total Investment
Securities |
46.1 |
29.5 |
21.7 |
15.8 |
|
Other Earning Assets, Total |
1,115.6 |
906.2 |
583.8 |
450.3 |
|
Buildings |
1.3 |
0.3 |
0.5 |
0.3 |
|
Land/Improvements |
4.3 |
2.7 |
1.8 |
1.8 |
|
Machinery/Equipment |
3.7 |
3.6 |
2.8 |
2.2 |
|
Other
Property/Plant/Equipment |
2.6 |
2.7 |
1.7 |
1.5 |
|
Property/Plant/Equipment
- Gross |
11.8 |
9.3 |
6.7 |
5.8 |
|
Property/Plant/Equipment - Net |
11.8 |
9.3 |
6.7 |
5.8 |
|
Deferred Income Tax
- Long Term Asset |
48.6 |
42.8 |
32.2 |
22.3 |
|
Other Long Term Assets, Total |
48.6 |
42.8 |
32.2 |
22.3 |
|
Other Assets |
24.0 |
20.1 |
10.9 |
5.3 |
|
Other Assets, Total |
24.0 |
20.1 |
10.9 |
5.3 |
|
Total Assets |
1,304.8 |
1,050.1 |
700.5 |
539.5 |
|
|
|
|
|
|
|
Accounts Payable |
9.2 |
11.5 |
7.3 |
5.8 |
|
Interest Bearing
Deposits |
713.6 |
476.1 |
356.5 |
288.5 |
|
Other Deposits |
232.5 |
250.0 |
159.9 |
111.3 |
|
Total Deposits |
946.2 |
726.1 |
516.4 |
399.8 |
|
Dividends Payable |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Taxes
Payable |
59.8 |
48.2 |
36.8 |
28.4 |
|
Other Current liabilities, Total |
59.8 |
48.2 |
36.8 |
28.4 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
|
|
|
|
Deferred Income Tax
- LT Liability |
0.4 |
0.2 |
-0.2 |
-2.1 |
|
Deferred Income Tax |
0.4 |
0.2 |
-0.2 |
-2.1 |
|
Minority Interest |
26.3 |
27.7 |
0.0 |
- |
|
Other Liabilities |
142.7 |
125.1 |
88.6 |
68.4 |
|
Other Liabilities, Total |
142.7 |
125.1 |
88.6 |
68.4 |
|
Total Liabilities |
1,184.6 |
938.8 |
649.0 |
500.2 |
|
|
|
|
|
|
|
Common Stock |
72.0 |
66.4 |
26.0 |
20.1 |
|
Common Stock |
72.0 |
66.4 |
26.0 |
20.1 |
|
Retained Earnings (Accumulated Deficit) |
47.4 |
44.0 |
24.6 |
18.2 |
|
Unrealized Gain (Loss) |
0.8 |
0.9 |
0.9 |
0.9 |
|
Total Equity |
120.2 |
111.3 |
51.5 |
39.3 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’
Equity |
1,304.8 |
1,050.1 |
700.5 |
539.5 |
|
|
|
|
|
|
|
Shares Outstanding
- Common Stock Primary Issue |
713.1 |
713.1 |
713.1 |
713.1 |
|
Total Common Shares Outstanding |
713.1 |
713.1 |
713.1 |
713.1 |
|
Employees |
1,807 |
1,711 |
- |
- |
|
Number of Common Shareholders |
54,267 |
49,386 |
11,382 |
- |
|
Tier 1 Capital % |
13.47% |
14.49% |
11.25% |
11.21% |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
|
|
|
|
|
|
|
Cash Receipts |
-12.4 |
-9.8 |
-7.4 |
-6.3 |
|
Cash Payments |
-0.4 |
-0.4 |
-0.2 |
-0.1 |
|
Other Operating
Cash Flow |
79.2 |
-6.7 |
27.9 |
17.7 |
|
Changes in Working Capital |
79.2 |
-6.7 |
27.9 |
17.7 |
|
Cash from Operating Activities |
66.4 |
-16.8 |
20.3 |
11.3 |
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-5.4 |
-3.6 |
-1.8 |
-1.9 |
|
Capital Expenditures |
-5.4 |
-3.6 |
-1.8 |
-1.9 |
|
Sale of Fixed
Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-5.4 |
-3.6 |
-1.7 |
-1.9 |
|
|
|
|
|
|
|
Sale/Issuance
of Common |
0.0 |
33.6 |
0.0 |
- |
|
Common Stock, Net |
0.0 |
33.6 |
0.0 |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
33.6 |
0.0 |
- |
|
Cash from Financing Activities |
0.0 |
33.6 |
0.0 |
- |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
61.0 |
13.2 |
18.5 |
9.5 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
95.2 |
88.1 |
70.3 |
61.3 |
|
Net Cash - Ending Balance |
156.2 |
101.3 |
88.8 |
70.8 |
|
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 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
|
|
|
|
|
|
|
Investment Income |
128.0 |
61.9 |
58.0 |
50.4 |
|
Profit paid on
Deposits & Borrowings |
-73.8 |
-45.0 |
-38.6 |
-32.4 |
|
Total Revenue |
54.2 |
16.9 |
19.4 |
18.0 |
|
|
|
|
|
|
|
Provision against
Investments & Continge |
5.0 |
5.3 |
2.0 |
3.7 |
|
Provisions for
Diminution in Value of In |
0.1 |
0.0 |
0.0 |
0.2 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
5.1 |
5.3 |
2.0 |
3.9 |
|
|
|
|
|
|
|
Income from
Investment in Shares & Secur |
1.4 |
0.5 |
0.2 |
1.7 |
|
Commossion,Exchange
& Brokerage |
21.0 |
29.5 |
15.8 |
10.1 |
|
Other Operatings
Income |
2.6 |
18.6 |
2.8 |
1.9 |
|
Salaries &
Allowances & Contribution to |
-12.3 |
-10.1 |
-7.9 |
-6.1 |
|
Directors Fees
& Expenses |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Shariah Supervisory
Committe's Fees & Ex |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rent,Taxes,Insurance,Lighting
Etc |
-2.3 |
-2.0 |
-1.3 |
-1.1 |
|
Postage,Telegram,Telephone
& Stamps Etc |
-0.8 |
-0.7 |
-0.6 |
-0.4 |
|
Legal Charges |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditor's Fees |
0.0 |
0.0 |
0.0 |
0.0 |
|
Salary &
Allowances to the managing Dire |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Depreciation &
Repairs to the Banks Prop |
-1.5 |
-1.1 |
-0.9 |
-0.6 |
|
Stationery,Printing,Advertisement |
-0.6 |
-0.6 |
-0.3 |
-0.2 |
|
Other Expenses |
-3.1 |
-4.2 |
-1.9 |
-0.9 |
|
Staff Welfare |
- |
- |
0.0 |
0.0 |
|
Loss on Fixed
Assets |
- |
- |
0.0 |
0.0 |
|
Total Non-Interest Revenue |
25.0 |
48.5 |
18.8 |
13.7 |
|
|
|
|
|
|
|
Total Non-Interest Expense |
-20.8 |
-19.1 |
-13.2 |
-9.4 |
|
|
|
|
|
|
|
Net Income Before Taxes |
53.3 |
41.0 |
23.0 |
18.4 |
|
|
|
|
|
|
|
Provision for Income Taxes |
23.6 |
12.8 |
10.6 |
8.6 |
|
Net Income After Taxes |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Net Income Before Extra. Items |
29.7 |
28.1 |
12.4 |
9.7 |
|
Net Income |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
713.1 |
713.1 |
713.1 |
713.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Diluted Net Income |
29.7 |
28.1 |
12.4 |
9.7 |
|
Diluted Weighted Average Shares |
713.1 |
713.1 |
713.1 |
713.1 |
|
Diluted EPS Excluding ExtraOrd Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.04 |
0.04 |
0.02 |
0.01 |
|
DPS-Common Shares |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
53.3 |
41.0 |
23.0 |
18.4 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
23.6 |
12.8 |
10.6 |
8.6 |
|
Normalized Income After Taxes |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
29.7 |
28.1 |
12.4 |
9.7 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.04 |
0.02 |
0.01 |
|
Diluted Normalized EPS |
0.04 |
0.04 |
0.02 |
0.01 |
|
Depreciation, Supplemental |
1.5 |
1.1 |
0.9 |
0.6 |
|
Rental Expense, Supplemental |
1.3 |
1.3 |
0.7 |
0.6 |
|
Advertising Expense, Supplemental |
0.2 |
0.2 |
0.1 |
0.1 |
|
Current Tax |
23.4 |
12.5 |
8.6 |
9.0 |
|
Current Tax - Total |
23.4 |
12.5 |
8.6 |
9.0 |
|
Deferred Tax |
0.2 |
0.3 |
2.0 |
-0.4 |
|
Deferred Tax - Total |
0.2 |
0.3 |
2.0 |
-0.4 |
|
Income Tax - Total |
23.6 |
12.8 |
10.6 |
8.6 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Reclassified Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
ACNABIN |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
|
|
|
|
|
|
|
Cash in Hand |
9.9 |
8.1 |
5.7 |
4.1 |
|
Balance with
Bangladesh Bank & its Agent |
79.8 |
52.1 |
46.9 |
31.0 |
|
Balance with Other
banks & Financials In |
3.6 |
4.1 |
5.6 |
16.3 |
|
Balance with Other
banks-Outside Banglad |
11.4 |
7.3 |
8.7 |
4.5 |
|
Placement with
Banks & Other Financials |
119.8 |
116.4 |
40.4 |
31.9 |
|
Investment in
Shares & Securities |
36.7 |
28.4 |
21.7 |
14.5 |
|
Investment in
Shares & Securities- Other |
9.4 |
1.1 |
0.0 |
1.3 |
|
Investment-General
Investment |
844.9 |
669.1 |
474.4 |
365.8 |
|
Investment-Bills
Purchase & Discounted |
104.8 |
91.2 |
47.3 |
36.8 |
|
Land |
4.3 |
2.7 |
1.8 |
1.8 |
|
Buildings |
1.3 |
0.3 |
0.5 |
0.3 |
|
Furniture(Wood) |
0.4 |
0.4 |
0.4 |
0.4 |
|
Furniture(Steel) |
0.3 |
0.3 |
0.2 |
0.2 |
|
Computer |
0.6 |
0.6 |
0.6 |
0.6 |
|
Computer(Accossories) |
0.1 |
0.1 |
0.0 |
0.0 |
|
Motor Car |
0.5 |
0.5 |
0.5 |
0.3 |
|
Machine Equipment
& Appliances |
1.7 |
1.7 |
1.1 |
0.7 |
|
Online Hardware |
0.7 |
0.9 |
0.9 |
0.9 |
|
Online Software |
0.2 |
0.3 |
0.2 |
0.2 |
|
Interior Decoration |
1.2 |
0.9 |
0.6 |
0.4 |
|
Books & Library |
0.0 |
0.0 |
0.0 |
0.0 |
|
AIBL Capital Market
Services Ltd. |
0.4 |
0.5 |
0.0 |
- |
|
Other Assets |
24.0 |
20.1 |
10.9 |
5.3 |
|
Advance Income Tax |
48.6 |
42.8 |
32.2 |
22.3 |
|
Total Assets |
1,304.8 |
1,050.1 |
700.5 |
539.5 |
|
|
|
|
|
|
|
Placement with
Banks & Other Financials |
68.4 |
80.6 |
37.8 |
25.8 |
|
Mudaraba Savings
Deposits |
102.2 |
102.6 |
79.3 |
61.2 |
|
Mudaraba Term
Deposits |
611.4 |
373.5 |
277.3 |
227.4 |
|
Other Mudaraba
Deposits |
164.1 |
169.4 |
122.1 |
85.4 |
|
Al-Wadia Current
Accounts & Other Accoun |
117.4 |
107.5 |
67.9 |
51.1 |
|
Bills Payable |
9.2 |
11.5 |
7.3 |
5.8 |
|
Other Liabilities |
8.2 |
2.6 |
8.9 |
6.7 |
|
Dividend Payable |
0.0 |
0.0 |
0.0 |
0.0 |
|
Provisions |
17.1 |
15.1 |
11.8 |
10.7 |
|
Provision for
Income Tax |
59.8 |
48.2 |
36.8 |
28.4 |
|
Deferred Tax
Liability |
0.4 |
0.2 |
-0.2 |
-2.1 |
|
Minority interest |
26.3 |
27.7 |
0.0 |
- |
|
Total Liabilities |
1,184.6 |
938.8 |
649.0 |
500.2 |
|
|
|
|
|
|
|
Paid Up Capital |
72.0 |
66.4 |
26.0 |
20.1 |
|
Statutory Reserve |
29.0 |
24.3 |
16.7 |
12.2 |
|
General other
reserves |
- |
- |
0.0 |
0.0 |
|
Asset Revaluation
Reserves |
0.8 |
0.9 |
0.9 |
0.9 |
|
Retained Earnings |
18.4 |
19.7 |
7.8 |
6.0 |
|
Total Equity |
120.2 |
111.3 |
51.5 |
39.3 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders'
Equity |
1,304.8 |
1,050.1 |
700.5 |
539.5 |
|
|
|
|
|
|
|
S/O-Common Shares |
713.1 |
713.1 |
713.1 |
713.1 |
|
Total Common Shares Outstanding |
713.1 |
713.1 |
713.1 |
713.1 |
|
Tier 1 Capital % |
12.31% |
13.21% |
9.68% |
9.70% |
|
Tier 2 Capital % |
1.16% |
1.28% |
1.57% |
1.51% |
|
Full-Time Employees |
1,807 |
1,711 |
- |
- |
|
Number of Common Shareholders |
54,267 |
49,386 |
11,382 |
- |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
Hoda Vasi Chowdhury & Co |
|
Auditor Opinion |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
Unqualified with Explanation |
|
|
|
|
|
|
|
Cash Receipts |
-12.4 |
-9.8 |
-7.4 |
-6.3 |
|
Cash Payments |
-0.4 |
-0.4 |
-0.2 |
-0.1 |
|
Investment Income
received in Cash |
125.4 |
73.2 |
58.9 |
50.2 |
|
Profit paid on
Deposits |
-58.4 |
-40.6 |
-36.1 |
-26.6 |
|
Dividend received |
0.0 |
0.0 |
0.0 |
0.1 |
|
Fees &
Commission received in Cash |
21.0 |
29.5 |
15.8 |
10.1 |
|
Recoveries from
write off Investments |
0.6 |
0.3 |
0.2 |
0.4 |
|
Received from other
Operating Activities |
3.8 |
10.0 |
2.8 |
1.8 |
|
Paid for Other
Operating Activities |
-6.8 |
-7.5 |
-4.2 |
-2.6 |
|
Advance Income tax |
-14.8 |
-9.2 |
-9.1 |
-5.8 |
|
Increase of Trading
Securities |
-9.4 |
-2.5 |
1.3 |
-0.3 |
|
Increase of
Inestment & Advances to othe |
-21.6 |
-77.6 |
-8.7 |
-13.1 |
|
Increase of
Investment & Advances to Cus |
-325.9 |
-275.2 |
-127.4 |
-100.3 |
|
Increase of Other
Assets |
-4.8 |
4.2 |
-6.6 |
-1.8 |
|
Increase of
Deposits from Other Assets |
-1.1 |
44.0 |
12.2 |
6.7 |
|
Increase of
Deposits from Customers |
368.8 |
210.2 |
125.5 |
94.0 |
|
Increase of Trading
Liabilities |
2.4 |
34.6 |
3.4 |
5.1 |
|
Cash from Operating Activities |
66.4 |
-16.8 |
20.3 |
11.3 |
|
|
|
|
|
|
|
Capital Expenditure |
-5.4 |
-3.6 |
-1.8 |
-1.9 |
|
Sales Proceeds of
Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-5.4 |
-3.6 |
-1.7 |
-1.9 |
|
|
|
|
|
|
|
Increase in share
capital |
0.0 |
33.6 |
0.0 |
- |
|
Cash from Financing Activities |
0.0 |
33.6 |
0.0 |
- |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Change in Cash |
61.0 |
13.2 |
18.5 |
9.5 |
|
|
|
|
|
|
|
Cash,Begining of Year |
95.2 |
88.1 |
70.3 |
61.3 |
|
Cash,Ending of Year |
156.2 |
101.3 |
88.8 |
70.8 |
|
Financials in:
USD (mil) |
|
|
Except for
share items (millions) and per share items (actual units) |
|
|
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Annual Ratios
|
Financials in:
USD (mil) |
|
|
Except for
share items (millions) and per share items (actual units) |
|
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
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.