|
Report Date : |
20.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
BLOM BANK |
|
|
|
|
Registered Office : |
Sheikh Ahmad Ben Rached Al Maktoum Building, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1975 |
|
|
|
|
Legal Form : |
Branch of A Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Engaged in the provision of corporate and retail banking services. |
|
|
|
|
No of Employees : |
60 |
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 |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED ARAB EMIRATES - ECONOMIC OVERVIEW
The UAE has an open economy
with a high per capita income and a sizable annual trade surplus. Successful
efforts at economic diversification have reduced the portion of GDP based on
oil and gas output to 25%. Since the discovery of oil in the UAE more than 30
years ago, the country has undergone a profound transformation from an
impoverished region of small desert principalities to a modern state with a
high standard of living. The government has increased spending on job creation
and infrastructure expansion and is opening up utilities to greater private
sector involvement. In April 2004, the UAE signed a Trade and Investment
Framework Agreement with
|
Source
: CIA |
Company Name :
BLOM BANK
Country of Origin :
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
1975
Trade Licence Number :
201934
Chamber Membership Number :
1497
Total Workforce : 60
Activities :
Providers of corporate and retail banking services
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
BLOM BANK
Registered &
Physical Address
Building :
Sheikh Ahmad Ben Rached Al Maktoum Building
Street :
Area : Deira
PO Box : 4370
Town :
Country : United Arab Emirates
Telephone : (971-4) 2307230
/ 2284655
Facsimile : (971-4)
2271038 / 2236260
Email : info@blomfrance.ae
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Dubai.
Branch Offices
Location Description
Building 4, The Galleries, Ground Floor Office premises
Jebel Ali Free Zone
Tel: (971-4) 8849311
Fax: (971-4) 8849388
Name Position
Michel Najarre Country
Manager
Michel Germanos Deputy
Country Manager
Eddy Bechara Branch
Manager
Date of Establishment : 1975
Legal Form : Subject
is the United Arab Emirates registered branch of Blom Bank France, a Limited
Liability Company incorporated in
Blom Bank
Blom Bank
38 Avenue des
75008
Tel: (33-1) 44950606
A Branch of a Foreign Registered Corporation is not a legal entity in its own right. Responsibility for payments lays in the hands of the company where it is originally registered.
Under these circumstances, we strongly advise that any
international trade credit should only
be written under the name of the main company where the subject holds its registered office, in this
case
Trade Licence No. : 201934 (Expires
20/02/2015)
Chamber Member No. : 1497
Activities: Engaged in the provision of corporate and retail banking services.
Subject has a workforce of 60 employees.
Companies registered in
No complaints regarding subject’s payments have been reported.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.07 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.