MIRA INFORM
REPORT
|
Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAHJALAL ISLAMI BANK LIMITED |
|
|
|
|
Registered Office : |
Jiban Bima
Bhaban, Front Block (4th Floor), 10, Dilkusha Commercial Area, Dhaka, 1212 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.04.2001 |
|
|
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|
Legal Form : |
Public
Independent Company |
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|
|
|
Line of Business : |
·
subject
offers various service products both investment and deposit. ·
Subject
is engaged in interest-free banking business and also carries deal wise
business products. |
|
|
|
|
No. of Employees : |
1,881 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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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) |
|
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 |
Company
name & address
Shahjalal Islami Bank
Limited
Jiban Bima Bhaban
Front Block (4th
Floor)
10, Dilkusha
Commercial Area
Dhaka, 1212
Bangladesh
Tel: 880-2-8825457
Fax: 880-2-8824009
Synthesis
Employees: 1,881
Company Type: Public
Independent
Traded: Dhaka
Stock Exchange: SHAHJABANK
Incorporation
Date: 01-Apr-2001
Auditor: Hoda
Vasi Chowdhury & Co
Financials in: USD (millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency:
Bangladesh Taka
Annual Sales:
NA
Net Income:
17.4
Total Assets:
1,316.6 2
Market Value:
121.0 (29-Aug-2013)
Business
Description
Shahjalal Islami
Bank Limited (SJIBL) is a Bangladesh-based bank. SJIBL offers various service
products both investment and deposit. SJIBL is engaged in interest-free banking
business and also carries deal wise business product. SJIBL’s account
services include Al Wadiah Current Deposit Accounts, Mudaraba Savings Deposit
Accounts (Msd), Mudaraba Term Deposit Accounts (Mtd) and Mudaraba Short Notice
Deposit Accounts (Msnd). SJIBL carries its brokerage house operation through a
separate division, Capital Market Service Division (CMSD). CMSD provides margin
facility to its customers to invest in the secondary markets. SJIBL’s deposit
scheme includes Mudaraba Monthly Income, Mudaraba Double Money Deposit,
Mudaraba Housing Deposit, Mudaraba Lakhopoti Deposit, Mudaraba Cash Waqf
Deposit and Mudaraba Bibaho Deposit. For the fiscal year ended 31 December
2011, Shahjalal Islami Bank Limited interest income increased 2% to BDT4.94B.
Net interest income after loan loss provision remained flat at BDT4.28B. Net
income decreased 38% to BDT1.29B. Net interest income after loan loss provision
reflects Investment Income increase of 59% to BDT10.22B, Other Operating Income
increase of 43% to BDT380.5M.
Industry
Industry Banking
ANZSIC 2006: 6221 - Banking
ISIC Rev 4: 6419 - Other monetary intermediation
NACE Rev 2: 6419 - Other monetary intermediation
NAICS 2012: 52211 - Commercial Banking
UK SIC 2007: 64191 - Banks
US SIC 1987: 6029 - Commercial Banks, Not Elsewhere
Classified
Key
Executives
|
Name |
Title |
|
Md. Emran Hossain |
Secretary & Executive VP |
|
Md. Farid Uddin |
Senior Executive Officer-Shariah Inspection & Compliance |
|
A. K. Azad |
Chairman |
|
Alhaj Nurul Arefeen |
Vice Chairman |
|
Mohiuddin Ahmed |
Director |
Stock Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = BDT 74.04171
2 - Balance Sheet
Item Exchange Rate: USD 1 = BDT 81.83
Corporate
overview
Location
Jiban Bima Bhaban
Front Block (4th
Floor)
10, Dilkusha
Commercial Area
Dhaka, 1212
Bangladesh
Tel: 880-2-8825457
Fax: 880-2-8824009
Quote Symbol -
Exchange
SHAHJABANK - Dhaka Stock Exchange
Sales BDT(mil): NA
Assets BDT(mil): 107,734.8
Employees: 1,881
Fiscal Year End: 31-Dec-2011
Industry: Commercial
Banks
Incorporation
Date: 01-Apr-2001
Company Type: Public
Independent
Quoted Status: Quoted
Secretary & Executive
VP:
Md. Emran Hossain
Industry Codes
ANZSIC 2006
Codes:
6221 - Banking
ISIC Rev 4 Codes:
6419 - Other monetary intermediation
NACE Rev 2 Codes:
6419 - Other monetary intermediation
NAICS 2012 Codes:
52211 - Commercial Banking
US SIC 1987:
6029 - Commercial Banks, Not Elsewhere
Classified
UK SIC 2007:
64191 - Banks
Business Description
Shahjalal Islami Bank Limited (SJIBL) is a
Bangladesh-based bank. SJIBL offers various service products both investment
and deposit. SJIBL is engaged in interest-free banking business and also
carries deal wise business product. SJIBL’s account services include Al
Wadiah Current Deposit Accounts, Mudaraba Savings Deposit Accounts (Msd),
Mudaraba Term Deposit Accounts (Mtd) and Mudaraba Short Notice Deposit Accounts
(Msnd). SJIBL carries its brokerage house operation through a separate
division, Capital Market Service Division (CMSD). CMSD provides margin facility
to its customers to invest in the secondary markets. SJIBL’s deposit scheme
includes Mudaraba Monthly Income, Mudaraba Double Money Deposit, Mudaraba
Housing Deposit, Mudaraba Lakhopoti Deposit, Mudaraba Cash Waqf Deposit and
Mudaraba Bibaho Deposit. For the fiscal year ended 31 December 2011, Shahjalal
Islami Bank Limited interest income increased 2% to BDT4.94B. Net interest
income after loan loss provision remained flat at BDT4.28B. Net income
decreased 38% to BDT1.29B. Net interest income after loan loss provision
reflects Investment Income increase of 59% to BDT10.22B, Other Operating Income
increase of 43% to BDT380.5M.
More Business Descriptions
Commercial banking services operating under Islamic
principles
Banking Services
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EXECUTIVE REPORT
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Board
of Directors |
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Vice Chairman |
Chairman |
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Chairman |
Chairman |
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Chairman |
Chairman |
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Vice Chairman |
Chairman |
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Director |
Chairman |
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Vice Chairman |
Vice-Chairman |
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Vice Chairman |
Vice-Chairman |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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|
Director |
Director/Board Member |
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Executives |
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Secretary & Executive VP |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Senior Executive Officer-Shariah
Inspection & Compliance |
Legal Executive |
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Significant
Developments
Shahjalal Islami
Bank Ltd Credit Rating Information and Services Limited Announces Rating AA To
Shahjalal Islami Bank Ltd Jun 30, 2013
Credit Rating
Information and Services Limited (CRISL) has rated Shahjalal Islami Bank Ltd as
AA in the long term and ST-2 in the short term in consideration of financials
of the Company up to December 31, 2012 (audited) and other relevant
quantitative as well as qualitative information up to the date of rating
declaration.
Shahjalal Islami
Bank Ltd Appoints Mr. A. K. Azad As Chairman Jun 13, 2013
Shahjalal Islami
Bank Ltd announced that the Board of Directors has elected Mr. A. K. Azad as
the Chairman and Mr. Syed Nurul Arefeen and Mr. Mohammed Faruque as the Vice
Chairmen of the Company.
Shahjalal Islami
Bank Ltd Proposes Bonus Share May 15, 2013
Shahjalal Islami
Bank Ltd announced that it has proposed bonus share at 20% for the year 2012.
Shahjalal Islami
Bank Ltd Recommends Stock Dividend Apr 29, 2013
Shahjalal Islami
Bank Ltd announced that the Board of Directors has recommended stock dividend
at 20% for the year ended on December 31, 2012.
Annual
Income Statement
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 |
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 |
Hoda Vasi Chowdhury
& Co |
Hoda Vasi
Chowdhury & Co |
|
|
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Interest & Dividends on Investment
Securities |
40.3 |
41.1 |
25.2 |
21.4 |
|
Other Interest Income |
26.5 |
28.6 |
17.1 |
12.5 |
|
Interest Income, Bank |
66.8 |
69.7 |
42.3 |
33.9 |
|
Net Interest Income |
66.8 |
69.7 |
42.3 |
33.9 |
|
|
|
|
|
|
|
Loan Loss Provision |
9.0 |
8.2 |
3.6 |
3.6 |
|
Net Interest Income after Loan Loss Provision |
57.8 |
61.5 |
38.7 |
30.3 |
|
|
|
|
|
|
|
Labor & Related Expenses |
-13.4 |
-10.3 |
-6.9 |
-4.0 |
|
Depreciation Expense |
-1.6 |
-1.1 |
-0.8 |
-0.5 |
|
Litigation Expense |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expense |
-8.1 |
-7.6 |
-5.0 |
-3.0 |
|
Non-Interest Expense, Bank |
-23.1 |
-19.0 |
-12.7 |
-7.5 |
|
Income Before Tax |
34.7 |
42.5 |
26.0 |
22.8 |
|
|
|
|
|
|
|
Total Income Tax |
17.3 |
12.8 |
10.5 |
10.9 |
|
Income After Tax |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Net Income Before Extraord Items |
17.4 |
29.8 |
15.5 |
11.9 |
|
Net Income |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
667.9 |
667.9 |
667.9 |
667.9 |
|
Basic EPS Excl Extraord Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
Diluted Net Income |
17.4 |
29.8 |
15.5 |
11.9 |
|
Diluted Weighted Average Shares |
667.9 |
667.9 |
667.9 |
667.9 |
|
Diluted EPS Excl Extraord Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
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 |
1.6 |
1.1 |
0.8 |
0.5 |
|
Total Special Items |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
34.7 |
42.5 |
26.0 |
22.8 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
17.3 |
12.8 |
10.5 |
10.9 |
|
Normalized Income After Tax |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.04 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.03 |
0.04 |
0.02 |
0.02 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
|
|
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Cash & Due from Banks |
217.2 |
180.1 |
151.6 |
133.6 |
|
Securities Held |
1,063.7 |
907.6 |
685.0 |
494.3 |
|
Total Investment Securities |
1,063.7 |
907.6 |
685.0 |
494.3 |
|
Other Earning Assets, Total |
1,063.7 |
907.6 |
685.0 |
494.3 |
|
Property/Plant/Equipment - Net |
19.2 |
20.9 |
9.0 |
4.9 |
|
Other Assets |
16.4 |
6.3 |
5.2 |
7.2 |
|
Other Assets, Total |
16.4 |
6.3 |
5.2 |
7.2 |
|
Total Assets |
1,316.6 |
1,114.9 |
850.7 |
640.1 |
|
|
|
|
|
|
|
Accounts Payable |
7.0 |
7.5 |
5.1 |
3.8 |
|
Interest Bearing Deposits |
140.2 |
81.3 |
65.0 |
67.5 |
|
Other Deposits |
1,000.1 |
879.6 |
680.2 |
493.6 |
|
Total Deposits |
1,140.2 |
960.9 |
745.1 |
561.2 |
|
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 |
1.3 |
1.1 |
0.6 |
0.3 |
|
Deferred Income Tax |
1.3 |
1.1 |
0.6 |
0.3 |
|
Minority Interest |
2.7 |
3.2 |
- |
- |
|
Other Liabilities |
68.6 |
46.5 |
28.8 |
22.5 |
|
Other Liabilities, Total |
68.6 |
46.5 |
28.8 |
22.5 |
|
Total Liabilities |
1,219.8 |
1,019.2 |
779.6 |
587.8 |
|
|
|
|
|
|
|
Additional Paid-In Capital |
54.4 |
48.6 |
39.6 |
32.6 |
|
Retained Earnings (Accumulated Deficit) |
42.3 |
47.2 |
28.0 |
19.7 |
|
Unrealized Gain (Loss) |
- |
- |
3.6 |
0.0 |
|
Total Equity |
96.7 |
95.8 |
71.1 |
52.3 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,316.6 |
1,114.9 |
850.7 |
640.1 |
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
667.9 |
667.9 |
667.9 |
667.9 |
|
Total Common Shares Outstanding |
667.9 |
667.9 |
667.9 |
667.9 |
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 |
|
|
|
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 |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
|
|
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Cash Receipts |
140.6 |
108.3 |
- |
- |
|
Cash Payments |
-13.9 |
-10.9 |
- |
- |
|
Cash Taxes Paid |
-10.3 |
-9.5 |
- |
- |
|
Other Assets |
-297.7 |
-252.8 |
- |
- |
|
Other Liabilities |
268.2 |
218.0 |
- |
- |
|
Other Operating Cash Flow |
-69.9 |
-39.4 |
- |
- |
|
Changes in Working Capital |
-99.5 |
-74.3 |
- |
- |
|
Cash from Operating Activities |
16.9 |
13.6 |
- |
- |
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2.7 |
-13.2 |
- |
- |
|
Capital Expenditures |
-2.7 |
-13.2 |
- |
- |
|
Sale/Maturity of Investment |
1.4 |
28.6 |
- |
- |
|
Purchase of Investments |
-24.4 |
-18.3 |
- |
- |
|
Other Investing Cash Flow Items, Total |
-23.1 |
10.2 |
- |
- |
|
Cash from Investing Activities |
-25.8 |
-3.0 |
- |
- |
|
|
|
|
|
|
|
Sale/Issuance of
Common |
0.0 |
3.2 |
- |
- |
|
Common Stock, Net |
0.0 |
3.2 |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
3.2 |
- |
- |
|
Short Term Debt Issued |
43.7 |
17.0 |
- |
- |
|
Short Term Debt, Net |
43.7 |
17.0 |
- |
- |
|
Issuance (Retirement) of Debt, Net |
43.7 |
17.0 |
- |
- |
|
Cash from Financing Activities |
43.7 |
20.2 |
- |
- |
|
|
|
|
|
|
|
Net Change in Cash |
34.9 |
30.8 |
- |
- |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
112.9 |
89.3 |
- |
- |
|
Net Cash - Ending Balance |
147.8 |
120.1 |
- |
- |
Annual Income Statement
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 |
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 |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Syful Shamsul
Alam & Co |
Syful Shamsul
Alam & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Investment Income |
138.1 |
92.2 |
80.1 |
61.8 |
|
Less: Profit paid on Deposits |
-99.8 |
-66.9 |
-60.8 |
-43.2 |
|
Income from Investment in Shares/securit |
2.0 |
15.9 |
5.9 |
2.8 |
|
Commission, Exchange and Brokerage |
21.4 |
24.7 |
13.4 |
10.1 |
|
Other Operating Income |
5.1 |
3.8 |
3.6 |
2.4 |
|
Total Revenue |
66.8 |
69.7 |
42.3 |
33.9 |
|
|
|
|
|
|
|
Specific provisions for Classified Inves |
1.8 |
2.2 |
1.2 |
0.1 |
|
General Provisions for Unclassified Inve |
2.4 |
3.4 |
1.8 |
2.0 |
|
General Provisions for Off-Balance Sheet |
0.9 |
1.9 |
0.6 |
1.0 |
|
Provisions for deminution in value of In |
3.9 |
0.7 |
0.0 |
0.4 |
|
Provisions for Other Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
9.0 |
8.2 |
3.6 |
3.6 |
|
|
|
|
|
|
|
Salaries and Allowances |
-13.2 |
-10.1 |
-6.8 |
-4.0 |
|
Rent, Taxes, Insurances, Electricity etc |
-3.1 |
-2.5 |
-1.5 |
-1.0 |
|
Legal Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
|
Postage, Stamps, Telecommunication etc. |
-0.4 |
-0.2 |
-0.2 |
-0.1 |
|
Stationery, Printings, Advertisements et |
-0.6 |
-0.8 |
-0.6 |
-0.4 |
|
Chief Executive's Salary & Fees |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Directors' Fees & Expenses |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Shariah Supervisory Committee's Fees & E |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditors' Fees |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation & Repairs of Bank's Assets |
-1.6 |
-1.1 |
-0.8 |
-0.5 |
|
Zakat Expenses |
-0.8 |
-0.5 |
-0.3 |
0.0 |
|
Other Expenses |
-3.3 |
-3.6 |
-2.5 |
-1.4 |
|
Total Non-Interest Expense |
-23.1 |
-19.0 |
-12.7 |
-7.5 |
|
|
|
|
|
|
|
Net Income Before Taxes |
34.7 |
42.5 |
26.0 |
22.8 |
|
|
|
|
|
|
|
Provision for Income Taxes |
17.3 |
12.8 |
10.5 |
10.9 |
|
Net Income After Taxes |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Net Income Before Extra. Items |
17.4 |
29.8 |
15.5 |
11.9 |
|
Net Income |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
667.9 |
667.9 |
667.9 |
667.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
Diluted Net Income |
17.4 |
29.8 |
15.5 |
11.9 |
|
Diluted Weighted Average Shares |
667.9 |
667.9 |
667.9 |
667.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.03 |
0.04 |
0.02 |
0.02 |
|
DPS-Fully Paid Ord. Shrs |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
34.7 |
42.5 |
26.0 |
22.8 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
17.3 |
12.8 |
10.5 |
10.9 |
|
Normalized Income After Taxes |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
17.4 |
29.8 |
15.5 |
11.9 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.03 |
0.04 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.03 |
0.04 |
0.02 |
0.02 |
|
Depreciation, Supplemental |
1.6 |
1.1 |
0.8 |
0.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Syful Shamsul
Alam & Co |
Syful Shamsul
Alam & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
|
Cash in hand (Including Foreign Currenci |
10.1 |
10.7 |
8.1 |
6.5 |
|
Balance with Bangladesh Bank & Sonali Ba |
106.0 |
91.4 |
50.8 |
40.3 |
|
Balance with other Banks & FI's Inside |
9.5 |
9.7 |
25.0 |
7.9 |
|
Balance with other Banks & FI's Outside |
8.2 |
6.7 |
5.8 |
2.4 |
|
Placement with other Banks & FI's |
83.5 |
61.5 |
61.9 |
76.5 |
|
Investments in Shares & Securities Gover |
24.4 |
19.9 |
15.9 |
11.6 |
|
Investments in Shares & Securities Other |
30.4 |
15.9 |
34.4 |
5.0 |
|
Investments General Investment etc |
864.7 |
770.4 |
582.9 |
423.7 |
|
Investments Bills Purchased & Discounted |
144.2 |
101.4 |
51.8 |
54.0 |
|
Fixed Assets Including Premises |
19.2 |
20.9 |
9.0 |
4.9 |
|
Other Assets |
16.4 |
6.3 |
5.2 |
7.2 |
|
Total Assets |
1,316.6 |
1,114.9 |
850.7 |
640.1 |
|
|
|
|
|
|
|
Placement from other Banks & Financial I |
140.2 |
81.3 |
65.0 |
67.5 |
|
Mudaraba Savings Deposits |
52.5 |
54.8 |
44.4 |
27.0 |
|
Mudaraba Term Deposits |
656.7 |
540.7 |
398.2 |
275.5 |
|
Other Mudaraba Deposits |
199.6 |
203.7 |
180.3 |
147.9 |
|
Al-Wadeeah Current & Other Deposit Accou |
91.2 |
80.4 |
57.3 |
43.2 |
|
Bills Payable |
7.0 |
7.5 |
5.1 |
3.8 |
|
Other Liabilities |
68.6 |
46.5 |
28.8 |
22.5 |
|
Deferred Tax Liabilities |
1.3 |
1.1 |
0.6 |
0.3 |
|
Non-controlling Interest |
2.7 |
3.2 |
- |
- |
|
Total Liabilities |
1,219.8 |
1,019.2 |
779.6 |
587.8 |
|
|
|
|
|
|
|
Paid-up Capital |
54.4 |
48.6 |
39.6 |
32.6 |
|
Statutory Reserve |
27.5 |
25.2 |
17.1 |
12.0 |
|
Retained Earnings |
14.8 |
22.0 |
10.9 |
7.8 |
|
Asset Revaluation Reserve |
- |
- |
3.6 |
0.0 |
|
Total Equity |
96.7 |
95.8 |
71.1 |
52.3 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,316.6 |
1,114.9 |
850.7 |
640.1 |
|
|
|
|
|
|
|
S/O-Fully Paid Ord. Shrs |
667.9 |
667.9 |
667.9 |
667.9 |
|
Total Common Shares Outstanding |
667.9 |
667.9 |
667.9 |
667.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
74.041708 |
69.60265 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
|
|
|
|
|
Cash Receipts |
140.6 |
108.3 |
|
Cash Payments |
-13.9 |
-10.9 |
|
Cash Taxes Paid |
-10.3 |
-9.5 |
|
Profit paid on deposits |
-89.5 |
-61.0 |
|
Dividend Receipts |
0.9 |
0.1 |
|
Fees & commission receipt in cash |
21.4 |
24.7 |
|
Receipts from other Operating Activities |
5.1 |
3.8 |
|
Payment from other Operating Activities |
-7.8 |
-7.1 |
|
investment to customers |
-283.9 |
-251.2 |
|
Other Assets |
-13.8 |
-1.7 |
|
Deposits from other Banks |
3.2 |
-2.5 |
|
Deposits received from customers |
265.4 |
218.8 |
|
Other liabilities on account of customer |
0.3 |
0.4 |
|
Other Liabilities |
-0.7 |
1.3 |
|
Cash from Operating Activities |
16.9 |
13.6 |
|
|
|
|
|
Proceeds from sale of Securities |
1.4 |
28.6 |
|
Payment for purchases of securities |
-24.4 |
-18.3 |
|
Purchases of Property, Plant & equipment |
-2.7 |
-13.2 |
|
Cash from Investing Activities |
-25.8 |
-3.0 |
|
|
|
|
|
Receipts from issue of Debt instruments |
43.7 |
17.0 |
|
Receipts from issue of ordinary shares |
0.0 |
3.2 |
|
Cash from Financing Activities |
43.7 |
20.2 |
|
|
|
|
|
Net Change in Cash |
34.9 |
30.8 |
|
|
|
|
|
Cash at Beginning |
112.9 |
89.3 |
|
Cash at Ending |
147.8 |
120.1 |
Financial
Health
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.61.75 |
|
UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
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 |
|
---- |
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.