MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE PREMIER BANK
LIMITED |
|
|
|
|
Registered Office : |
Iqbal Center, 42 Kemal Ataturk Avenue (4th Floor) Banani Commercial
Area, Banani, Dhaka-1213 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.06.1999 |
|
|
|
|
Com. Reg. No.: |
C-37922 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
Engaged in providing commercial banking
services |
|
|
|
|
No. of Employees : |
1259 |
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 |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
IDENTIFICATION DETAILS
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|
Correct
company Name |
: |
The Premier Bank
Limited |
|
Head
Office |
: |
Iqbal Center, 42 Kemal Ataturk Avenue (4th Floor)
Banani Commercial Area, Banani, Dhaka-1213, Bangladesh. |
|
Tel
No |
: |
88-02-9820844-8 |
|
Fax
No |
: |
880-2-9820808,
9820833 |
|
E-mail |
: |
|
|
Website |
: |
|
|
Date/
Year
of Incorporation |
: |
10.06.1999 |
|
Incorporation No. |
: |
C-37922 |
|
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 |
|
2011, 31st December |
Tk.4,189,896,622 |
Tk.74,780,501,004 |
Tk.461,188,723 |
|
2012, 31st December |
Tk.3,774,417,562 |
Tk.81,736,246,380 |
Tk.608,324,697 |
|
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 |
|
|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr. Syed Ahsan
Habib |
|
Designation |
: |
Company secretary |
Locations Details
|
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|
Business
Address |
: |
Iqbal Center, 42 Kemal Ataturk Avenue (4th Floor) Banani
Commercial Area, Banani, Dhaka-1213, Bangladesh. |
|
Tel
No |
: |
88-02-9820844-8 |
|
E-mail |
: |
880-2-9820808,
9820833 |
|
Fax No |
: |
|
|
Website |
: |
|
|
Location : |
: Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
50,000 |
Sq. ft. |
|
Type of Office : |
: Commercial Office Bldg. |
Ö |
|
Semi-commercial
office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
|
|
|
|
Business Center |
|
|
Home Office |
|
|
|
|
Residential
Bldg. |
|
|
|
|
|
|
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Factory: |
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|
|
|
|
|
|
Address |
: |
N/A |
|
Tel
No |
: |
N/A |
|
Fax
No |
: |
N/A |
|
Owned |
|
|
Rented |
|
|
Leased |
|
Area |
|
Sq. ft. |
|
Branches: |
|
|
|
|
|
|
|
Address |
: |
Kawran Bazar Branch, Pragati Rhone Poulenc Centre,
RAJUK Plot No. 20 / 21 Kawran Bazar
C/A, Tejgaon, Dhaka |
|
Tel
No |
: |
880-2-9121485, 9139657 |
|
Fax
No |
: |
880-2-9133645 |
|
Location : |
Owned |
|
|
Rented |
Ö |
|
Leased |
|
Area |
2500 |
Sq. ft. |
|
Employee: |
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||||||
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No. of Employees |
In Office |
: |
1259 |
In Factory |
: |
|
|
|
In Branch: |
: |
|
Total
|
: |
1259 |
||
OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Dr. H. B. M. Iqbal |
17,931,010 |
|
Mr. B. H. Haroon |
9,320,000 |
|
Mr. Moin Iqbal Director |
9,317,891 |
|
Mr. Abdus Salam Murshedy |
19,618,000 |
|
Mr. Shafiqur Rahman |
9,321,527 |
|
Mrs. Nawrin Iqbal |
9,317,937 |
|
Mr. Mohammad Imran Iqbal |
9,317,853 |
|
Mr. Shah Md. Nahyan Haroon |
9,320,116 |
|
Mrs. Shaila Shelly Khan |
23,285,756 |
|
Mr. Yeh Cheng Min |
13,990,082 |
|
Mr. Kazi Abdul Mazid |
159,820 |
|
Dr. Arifur Rahman |
16,141,820 |
|
Mr. Nurul Amin |
3,240,573 |
|
Mr. Md. Lutfur Rahman |
1,568,984 |
|
Mr. Md. Masud Zaman |
3,548,466 |
|
Ms. Parsa Sanjana Amin |
2,615,933 |
|
Mr. Kutubuddin Ahmed |
14,785,970 |
|
Mr. Sanwar Dito |
12,129,649 |
|
Mrs. Ferdous Amin |
7,310,315 |
|
Mr. Alif Alam |
7,267,047 |
|
Mrs. Rashida Ahmed |
792,626 |
|
Mrs. Sharmin Salam |
1,676,271 |
|
Mr. Md. Miraj Rahman |
8,878 |
|
Mr. Maruf Rahman |
8,878 |
|
Mr. Md. Moniruzzaman |
3,480,463 |
|
Mr. Md. Wahiduzzaman |
3,480,461 |
|
Mrs. Asma Begum |
1,975,118 |
|
Mr. Shah Md. Adnan Haroon |
2,020,000 |
|
Mr. Jamal G. Ahmed |
693,394 |
|
Mrs. Husne-Ara Begum |
1,505,230 |
|
Mr.Adytta Amin |
3,276,481 |
|
General shareholders |
247,444,003 |
DIRECTORS
|
|
|
Name |
Designation |
|
Mr. Moin Iqbal
Chairman Director |
Chairman |
|
K.A.M. Majedur
Rahman |
Managing Director |
|
2 Mr. Abdus Salam
Murshedy |
Director |
|
3 Mr. Shah Md.
Nahyan Haroon |
Director |
|
4 Mr. Mohammad
Imran Iqbal |
Director |
|
5 Mr. Kazi Abdul
Mazid |
Director |
MANAGEMENT
|
||
|
Name |
: |
Mr. Md. Abdul Hai |
|
Job Description |
: |
Head of FAD |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Shafiuddin
Ahmed |
|
Job Description |
: |
Head of IR |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS
|
Nature
of Activity : |
Banking |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
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Exporter |
|
Importer |
|
Services |
|
Others |
|
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Range of Products/Item Dealings
In: |
||
|
|
||
|
Products |
: |
Commercial Banking |
|
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 |
|
Selling
Terms : |
L/C |
N/A |
Cash |
|
Others |
|
|
|||
|
|
Credit
: |
|
30
days |
|
60
days |
|
90
days |
|
|
days |
DETAILED
DATA
|
Trade Reference & Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local people,
Companies |
|
|||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
|||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
||||||
|
Imports |
: |
N/A |
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Brand Name |
: |
N/A |
|||||||||
|
Certified |
: |
N/A |
|||||||||
|
Auditors |
: |
N/A |
|||||||||
|
Operation Status |
: |
Active |
|||||||||
|
Member |
: |
N/A |
|||||||||
CAPITAL
STRUCTURE
|
Authorized Capital |
: |
Tk.6,000,000,000 |
|
||||||
|
Paid-up Capital |
: |
Tk.2184265490 |
No. of Shares |
: |
218,426,549 |
Share Value |
: |
Tk.10.00Each |
|
|
Main Assets |
: |
Tk.81,736,246,380 |
|
||||||
FINANCIAL
STATEMENT
DETAILED
|
Balance Sheet : |
||
|
|
Currency |
: Tk |
|
|
Denomination |
: 1 |
|
|
Financial Year Ending |
:31st
December |
|
Income Statement : |
||
|
|
Currency |
:
Tk |
|
|
Denomination |
:
1 |
|
|
Financial Year Ending |
:
31st December |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
|
Sister Concerns |
: |
N/A |
|
Subsidiary |
: |
Premier Bank Securities Ltd. Premier Money Transfer Company Limited |
|
Name of The Group |
: |
N/A |
BANKING
|
Bank Name |
: |
AB Bank Limited Southeast Bank Limited Bank Asia Limited Shahjalal Islami Bank Limited First Security Islamic Bank Limited Standard Bank Limited - United Commercial Bank Limited Sonali Bank Limited Islami Bank Bangladesh Limited Standard Chartered Bank National Bank Limited Mercantile Bank Limited The City Bank Limited |
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 Iqbal Center, 42
Kemal Ataturk Avenue (4th Floor) Banani Commercial Area, Banani, Dhaka-1213,
Bangladesh
GENERAL COMMENTS
SC is considered large-sized in its line with fairly stable financial
conditions.
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
UK Pound |
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
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.