MIRA
INFORM REPORT
|
Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXPORT IMPORT BANK OF BANGLADESH LTD. |
|
|
|
|
Registered Office : |
"SYMPHONY" Plot # SE (F): 9, Road # 142, Gulshan Avenue, Dhaka-1212 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.06.1999 |
|
|
|
|
Com. Reg. No.: |
C-37864 |
|
|
|
|
Legal Form : |
Public Listed Co |
|
|
|
|
Line of Business : |
Banking Service provider of Banking Corporation |
|
|
|
|
No of Employees : |
1909 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
IDENTIFICATION DETAILS
|
||
|
|
||
|
Correct
company Name |
: |
Export Import Bank of Bangladesh Ltd. |
|
Registered
office |
: |
"SYMPHONY"
Plot # SE (F): 9, Road # 142, Gulshan Avenue, Dhaka-1212, Bangladesh. |
|
Tel
No |
: |
880-2-9889363,
9891489 |
|
Fax
No |
: |
880-2-9889358 |
|
E-mail |
: |
info@\eximbankbd.com |
|
Website |
: |
www.eximbankbd.com |
|
Swift
Co9de |
: |
EXBKBDDH |
|
Date/
Year of Incorporation |
: |
02.06.1999 |
|
Registered No. |
: |
C-37864 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorships Partnership Not
Registered others (please specify) ________________ |
|
Legal
form (Specific) |
: |
LTD CORP
INC CO
others (please specify) ________________ |
|
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
December’2012 |
Tk. 17, 307,827,684 |
Tk. 167,056,626,119 |
Tk. 8,085,695,679 |
|
31st
December’2013 |
Tk. 20,417,497,250 |
Tk. 195, 452,516,240 |
Tk. 8, 155,829,783 |
|
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. Md. Golam Mahbub |
|
Designation |
: |
Company Secretary |
|
Contract No |
: |
- |
|
Locations Details |
||
|
|
||
|
Operating
Address |
: |
"SYMPHONY"
Plot # SE (F): 9, Road # 142, Gulshan Avenue, Dhaka- 1212, Bangladesh |
|
Tel
No |
: |
880-2-9889363,
9891489 |
|
Fax
No |
: |
880-2-9889358 |
|
E-mail |
: |
info@ eximbankbd.com |
|
Website |
: |
www.eximbankbd.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
25000 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
|
Branches: |
|
|
|
|
|
|
|
Number
of Branch |
: |
72 Nos. |
|
Branch: |
|
|
|
|
|
|
|
Address |
: |
27/1,
New Eskaton Road, Dhaka-1000, Bangladesh. |
|
Tel
No |
: |
88-02-8314159,
8314435, 9352854 |
|
Fax
No |
: |
880-2-9349196 |
|
E-mail |
: |
neweskaton@eximbankbd.com |
|
|
|
|
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
1909 |
In Factory |
: |
- |
||
|
In Branch: |
: |
- |
Total
|
: |
1909 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Md. Nazrul Islam Mazumder |
46290373 |
|
Md. Nazrul Islam Swapan |
40891080 |
|
Mr. Mohammad Abdullah |
39909390 |
|
Mrs. Nasreen Islam |
37816208 |
|
Mr. Mohammed Shahidullah |
21030339 |
|
Alhaj Md. Nurul Amin |
21030390 |
|
Mr. mohammad omar farooque Bhuiyan |
617523 |
|
Mr. Anjan Kumar Saha |
21029836 |
|
Mr. Md. Habib Ullah Dawn |
21037784 |
|
Major Khandaker Afser(Retd) |
26285104 |
|
Lt. Col. (Retd) serajul Islam, BP (BAR) |
569539 |
|
Mr. Ranjan Chowdhury |
654459 |
|
Mr. khandaker Mohammed Saiful Alam |
645571 |
|
Mrs. Asma begum |
12616174 |
|
Mrs. Mahmuda Begum |
12616174 |
|
Mrs. Rubina Shahid |
4615225 |
|
Mrs. Ifat Akter Alin |
2766238 |
|
Mrs. Jhumur Saha |
981689 |
|
Mrs. Shoma Nasreen |
3148793 |
|
Mrs. Musfequa Islam |
13914 |
|
General Public |
842068979 |
DIRECTORS
|
Name |
Designation |
|
Mr.
Md. Nazrul Islam Mazumder |
Chairman |
|
Dr.
Mohammed Haider Ali Miah |
Managing Director |
|
Mr.
Md. Sirajul Islam |
Deputy Managing Director |
|
Mr.
Sirajul Haque Miah |
Deputy Managing Director |
|
Mr.
Md. Nazrul Islam Swapan |
Director |
|
Mr.
Mohammad Abdullah |
Director |
|
Mrs. Nasreen
Islam |
Director |
|
Mr.
Mohammed Shahidullah |
Director |
|
Al-haj
Md. Nurul Amin |
Director |
|
Mr.
Mohammad Omar Farooque Bhuiyan |
Director |
|
Mr.
Anjan Kumar Saha |
Director |
|
Mr.
Md. Habib Ullah Dawn |
Director |
|
Major Khandaker
Nurul Afser (Retd.) |
Director |
|
Mr.
Muhammad Sekandar Khan |
Director |
|
Mr.
Ranjan Chowdhury |
Director |
|
Khandakar
Mohammed Saiful Alam |
Director |
|
Lt.
Col. (Retd) Serajul Islam BP (BAR) |
Director |
MANAGEMENT
|
Name |
: |
Mr. Md. Sirajul
Islam |
|
Job
Description |
: |
Deputy
Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
Name |
: |
Mr. Sirajul Haque
Miah |
|
Job
Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
|
Name |
: |
Mr. Md. Humayun Kabir |
|
Job
Description |
: |
Chief Financial Officer |
|
Nationality |
: |
Bangladeshi |
|
Email
address |
: |
N/A |
|
Other
details |
: |
N/A |
BUSINESS OPERATIONS
|
Nature
of Activity : |
Banking
Services |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Item Dealings In: |
||
|
|
||
|
Products |
: |
Banking Corporation. |
|
Production
Capacity |
: |
N/A |
|
Last Year Production |
: |
N/A |
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
Ö |
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 |
: |
M/s. Pinaki & Co., Chartered Accountants Ahsadell, 2/A, Mymensingh
Road (2nd Floor), Shahbag, Dhaka |
|||||||||
|
Operation Status |
: |
Active |
|||||||||
|
Member |
: |
N/A |
|||||||||
CAPITAL STRUCTURE
|
Authorized
Capital |
: |
Tk. 20,000,000,000 |
|
||||||
|
Paid-up
Capital |
: |
Tk. 11,566,347,820 |
No. of Shares |
: |
11,56634,782 |
Share Value |
: |
Tk.10.00Each |
|
|
Main
Assets |
: |
Tk. 195, 452,516,240 |
|
||||||
FINANCIAL STATEMENT- DETAILED
|
Balance Sheet : |
||
|
|
Currency |
:
Tk. |
|
|
Denomination |
:
1 |
|
|
Financial Year Ending |
:
31st December 2013 |
|
Income Statement : |
||
|
|
Currency |
:
Tk. |
|
|
Denomination |
:
1 |
|
|
Financial Year Ending |
:
31st December |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister
Concerns |
: |
N/A |
|
Subsidiary |
: |
Exim
Exchange Company (UK) Ltd. Exim
Islami Investment Ltd Exim
Exchange Company (Canada) Ltd. Exim
Rxchange (Australia) Pty. Ltd. Exim (USa) Inc. |
|
Name of
The Group |
: |
N/A |
BANKING
|
Bank
Name |
: |
Sonali Bank Ltd. |
|
Bank
Address |
: |
Head Office Branch Motijheel, Dhaka |
|
|
|
|
|
Bank
Name |
: |
Dhaka Bank Ltd. |
|
Bank
Address |
: |
Dhaka. Motijheel Branch, |
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 Bank Head office which is situated at "SYMPHONY" Plot # SE (F): 9, Road # 142, Gulshan Avenue, Dhaka- 1212, Bangladesh. The subject company Chief Financial Officer Mr. Md. Humayun Kabir welcome us & given us all information. Its office is decorated by western furniture.
GENERAL COMMENTS
Based on the financial statements, SC’s financial performance appears to be Above Minimal. SC has been in its line of business for about 14 years. Talking into account its long-standing history, reputation in the market, as well as its financial condition, we recommend that Credit can proceed with favorable terms in Large amount.
|
Adopted
Abbreviations: |
||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.24 |
|
|
1 |
Rs. 103.01 |
|
Euro |
1 |
Rs. 81.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.