MIRA
INFORM REPORT
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Report Date : |
25.08.2014 |
IDENTIFICATION DETAILS
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Name : |
BARWA BANK |
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Registered Office : |
Mohamed Saeed Al Eida Building, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
28.01.2008 |
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Com. Reg. No.: |
38012 |
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Legal Form : |
With Limited Liability |
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Line of Business : |
Subject is engaged in the provision of retail, corporate and commercial
banking services. |
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No of Employees : |
225 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
QATAR - ECONOMIC OVERVIEW
Qatar has prospered in the
last several years with continued high real GDP growth. Throughout the
financial crisis Qatari authorities sought to protect the local banking sector,
with direct investments into domestic banks. GDP is driven largely by changes
in oil prices and by investment in the energy sector. Economic policy is
focused on developing Qatar's nonassociated natural gas reserves and increasing
private and foreign investment in non-energy sectors, but oil and gas still
account for more than 50% of GDP, roughly 85% of export earnings, and 50% of
government revenues. Oil and gas have made Qatar the world's highest per-capita
income country and the country with the lowest unemployment. Proved oil
reserves in excess of 25 billion barrels should enable continued output at
current levels for about 57 years. Qatar's proved reserves of natural gas
exceed 25 trillion cubic meters, about 13% of the world total and third largest
in the world. Qatar's successful 2022 World Cup bid is accelerating large-scale
infrastructure projects such as Qatar's metro system, light rail system, the
construction of a new port, roads, stadiums and related sporting
infrastructure. The new Hamad International Airport is expected to open in
mid-2014 with an annual passenger capacity of 24 million on initial opening and
50 million when complete.
|
Source
: CIA |
SUMMARY
Company Name :
BARWA BANK
Country of Origin :
Qatar
Legal Form :
With Limited Liability - WLL
Registration Date :
28th January 2008
Commercial Registration Number :
38012
Issued Capital :
QR 3,000,000,000
Paid up Capital :
QR 3,000,000,000
Total Workforce :
225
Activities :
Providers of retail, corporate and commercial banking services
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
BARWA BANK
ADDRESS
Registered &
Physical Address
Building : Mohamed Saeed
Al Eida Building
Street : Grand Hamad
Street
Town : Doha
Country : Qatar
Telephone : (974) 44100888
Facsimile : (974) 44100888
Email : info@barwabank.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Doha.
Branch Offices
Subject has four branch offices located throughout Doha.
KEY PRINCIPALS
Name Position
Sheikh Mohammad Bin Hamad Bin Jassim Al Thani Chairman
Abdulaziz Mohammed Hamad Al Mana Vice
Chairman
Mohamed Esmail Ali Al Emadi Director
Abdulla Abdulaziz Abdulla Al Subaie Director
Mohammad Ebrahim Mohammad Al Sulaiti Director
Aisha Muhammad Al Noaimi Director
Sultan Yousef Al Sulaiti Director
Jamal Abdul Rahman Al Musalmani Director
Nasser Hamad Ali Al Sulaiti Director
Talal Ahmed Abdulla Al Khaja Company
Secretary
Khalid Al Subeai Chief
Executive Officer
Khalid Mahdi Al Ahbabi Chief
Business Officer
Keith Bradley General
Manager
Bashar Jallad Chief
Investment Officer
Nile Rabbani Awan Chief
Risk Officer
Thamer S Abdalla Chief
Compliance Officer
LEGAL FORM & OWNERS
Date of Establishment : 28th
January 2008
Legal Form :
With
Limited Liability - WLL
Commercial Reg. No. : 38012
Issued Capital : QR 3,000,000,000
Paid up Capital :
QR
3,000,000,000
Name of
Shareholder (s) Percentage
Barwa Real Estate Company QSC 37.34%
Qatar Holding 12.13%
Local businessmen and private investors 50.53%
AFFILIATED COMPANIES
Name Percentage Held
The First Investor PQSC 100%
First Finance Company PQSC 100%
First Leasing Company PQSC 100%
TFI GCC Equity Opportunities Fund 64%
OPERATIONS
Activities: Engaged in the provision of retail, corporate and commercial banking
services.
Operating Trend: Steady
Subject has a workforce of 225 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR 000’s)
Consolidated
Balance Sheet 31/12/13
31/12/12
Consolidated
Income Statement
Net income from financing activities 846,730 716,633
Net income from investing activities 405,474 286,811
Total net income
from financing and investing activities 1,252,204 1,003,444
Fee and commission income 151,060 133,111
Fee and commission expense (15,021) (13,081)
Net fee and
commission income 136,039 120,030
Net foreign exchange gain 11,025 15,295
Share of results of associates and joint
ventures 10,528 25,500
Other income 11,399 9,856
Total income 1,421,195 1,174,125
Staff costs (298,483) (216,360)
Depreciation and amortization (50,940) (49,076)
Other expenses (171,584) (142,350)
Finance cost (63,368) (56,220)
Total expenses (584,375) (464,006)
Net impairment loss on investment securities (8,681) (52,623)
Net impairment loss on financing assets (76,006) (75,474)
Profit for the year
before return to investment account holders 752,133 582,022
Return to investment account holders before
the Bank’s share as
Mudarib (365,983) (283,551)
Bank’s share as Mudarib 117,739 46,749
Net return to
investment account holders (248,244) (236,802)
Net profit for the
year 503,889 345,220
Net profit for the
year attributable to:
Equity holders of the Bank 496,309 345,093
Non-controlling interests 7,580
127
Profit for the year
503,889 345,220
Local sources consider subject’s financial condition to be Good.
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
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|
1 |
Rs.100.72 |
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Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.