MIRA INFORM REPORT

 

 

Report Date :

07.04.2014  

 

IDENTIFICATION DETAILS

 

Name :

JAMUNA BANK LTD.

 

 

Registered Office :

Hadi Mension (3rd, 4th, 5th, 7th, 8th, 9th & 10th Floor) 2, Dilkusha, C/A, Dhaka-1000,

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

02.04.2001

 

 

Com. Reg. No.:

C-42780 

 

 

Legal Form :

Public Listed Co      

 

 

Line of Business :

Banking Service

 

 

No. of Employees

2006

 

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 – december 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings

 

Source : CIA

 

 

 

Company name and address

 

Correct company Name

:

Jamuna Bank Ltd.

Head Office

:

Hadi Mension (3rd, 4th, 5th, 7th, 8th, 9th & 10th Floor) 2, Dilkusha, C/A, Dhaka-1000, Bangladesh.                                         

Tel No

:

88-02-9570912, 9555141, Ext. 130

Fax No

:

880-2-9565762

E-mail

:

shajib@jamunabank.com.bd

Website

:

www.jamunabankbd.com

Date/ Year of Incorporation

:

02.04.2001

Incorporation No.

:

C-42780 

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) ________________

Issuing Authority

:

Registrar of Joint Stock Companies & Firms      City Corporation

 Municipal Administration                                   Union Council

 Cantonment Board                                              Chief Controller of  Import & Export (CCIE)

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

31st Dec’2012

Tk. 8,4734,38,129

Tk. 87,065,130,866

Tk. 4,863,895,221

31st Dec’2013

Tk. 9,626,677,157

Tk.109,678,508,742

Tk. 5,285,119,972

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

 

 

 

 

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Malik Muntasir Reza

Designation

:

Company Secretary.

Contract No

:

-

 

 

                                                               Locations Details

 

Operating Address

:

Hadi Mension (3rd, 4th, 5th, 7th, 8th, 9th & 10th Floor) 2, Dilkusha, C/A, Dhaka-1000, Bangladesh.                                         

Tel No

:

88-02-9570912, 9555141, Ext. 130

Fax No

:

880-2-9565762

E-mail

:

shajib@jamunabank.com.bd

Website

:

www.jamunabankbd.com

 

Location :

: Owned

 

 

Rented

Ö

 

Leased

 

Area

18500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

N/A

Tel No

:

N/A

Fax No

:

N/A

 

Sonargaon Road Branches:

 

 

 

Address

:

National Plaza, 109, Bir Uttam CR Datta Road, Sonargaon Road, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9670655, 9677050

Fax No

:

Nil

Email

:

manager.sonargaon@jamunabank.com.bd

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

2006

In Factory

:

-

In Branch:

:

-

Total

:

2006

Details:

 

                    

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Kanutosh Majumder

8998508

Al-Haj M.A. Khayer

1230000

Eng. A.K.M. Mosharraf Hussain

8975073

Eng. Md. Atiqur Rahman

17333248

Mr. Golam Dastagir Gazi

8975953

Mr. Fazlur Rahman

8975622

Al-Haj Nur Mohammed

13261001

Mr. Md. Tajul Islam

10140732

Mr. Sakhwat Abu Khair Mohammed

9000568

Al-Haj Md. Rezaul Karim Ansari

8338756

Mr. Md. Belal Hossain

8975953

Mr. Md. Mahmudul Haque

8978632

Mr. Shaheen Mahmud

21269102

Mr. Md. Sirajul Islam Varosha

8125283

Mr. Gazi Golam Murtoza

11440851

Sponsors

106747316

Foreign Investors

       52670

Financial Institution

 22661385

General Public

165273009

 

 

DIRECTORS

 

Name

Designation

Mr. Kanutosh Majumder

Chairman

Mr. Md. Shafiqul Alam

Managing Director

Al-Haj M.A. Khayer

Director

Eng. A.K.M. Mosharraf Hussain

Director

Eng. Md. Atiqur Rahman

Director

Mr. Golam Dastagir Gazi

Director

Mr. Fazlur Rahman

Director

Al-Haj Nur Mohammed

Director

Mr. Md. Tajul Islam

Director

Mr. Sakhwat Abu Khair Mohammed

Director

Al-Haj Md. Rezaul Karim Ansari

Director

Mr. Md. Belal Hossain

Director

Mr. Md. Mahmudul Haque

Director

Mr. Shaheen Mahmud

Director

Mr. Md. Sirajul Islam Varosha

Director

Mr. Md. Shafiqul Alam

Director

Mr. Gazi Golam Murtoza

Director

Mr. A.S.M Abdul Halim

Independent Director

 

 

MANAGEMENT

 

Name

:

Mr. Malik Muntasir Reza

Job Description

:

Company Secretary.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Banking Corporation

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Banking Service.     

Production Capacity

:

N/A

Last Year Production

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

 

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

Selling Terms      :

L/C

 

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

N/A

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

N/A

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk. 1, 000,000,000

 

Paid-up Capital

:

Tk.4,48,75,36,620

    No. of Shares

:

44,87,53,662

Share Value

:

Tk.10.0Each

Main Assets

:

Tk. 109678508742

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update financial figure to local registry office.

 

Balance Sheet :

 

  Currency

: Tk

 

       Denomination

: 1

 

         Financial Year Ending

: 31st Dec’2012

 

 

Income Statement :

 

  Currency

: Tk

 

       Denomination

: 1

 

         Financial Year Ending

: 31st Dec’2012

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Jamuna Bank Capital management Ltd.

Jamuna Bank Securities Limited.

Jamuna Bank Foundation

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

AB Bank Ltd.

Janata Bank Ltd.

National bank Ltd.

Social Islami Bank Ltd.

Sonali Bank Ltd.

Standard Chartered Bank

The City Bank Ltd.

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks           

 

:     

No Record Found         

Debt

 

:

No Record Found

Litigation  

                   

:

Clear         

Performance Defaults

 

:

No Record Found         

Adverse Local Media Coverage/ Adverse Filling History

:

No Record Found

 

 

SITE VISIT COMMENTARY

 

Our Representative Visited the subject company Head office which is situated at Hadi Mension (3rd, 4th, 5th, 7th, 8th, 9th, & 10th Floor) 2, Dilkusha, C/A, Dhaka-1000, Bangladesh. The subject company secretary Mr. Malik Muntasir Reza gave us all information. Is situated at commercial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

The subject company is a well-known reputed Banking Bangladesh.  Their services popular to the local prople.   So day by day the subject companies increase their goodwill.

As well as its financial condition, we recommend that Credit can proceed with favorable terms Large amount.

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.32

UK Pound

1

Rs.100.04

Euro

1

Rs.82.65

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.