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Report Date : |
03.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AB BANK LTD |
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Registered Office : |
BCIC Bhaban, 30-31 Dilkusha C/A,G 3522 PO Box |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.12.1981 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject offers services in the field of Small and Medium Enterprise
(SME) credit, Women's Entrepreneur, Consumer Loans, Debit and Credit Cards
(Local and International), automated teller machine (ATM), Internet and Short
Message Service (SMS) Banking, Remittance Services, Treasury Products and
Services |
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|
No. of Employees : |
1,952 |
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 |
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Payment Behaviour : |
No complaints |
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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) |
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|
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
In real terms
|
Source
: CIA |
AB BANK LTD
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AB Bank Limited (the Bank) is a Private Commercial Bank
(PCB). The Bank approximately has 90 Branches, including Islami Banking
Branch and Overseas Branch in |
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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US SIC 1987: |
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1 - Profit & Loss Item Exchange Rate: USD 1 = BDT 81.86564
2 - Balance Sheet Item Exchange Rate: USD 1 = BDT 81.2
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
|
|
Banking |
110.2 |
1,952 |
|
|
Subsidiary |
|
|
Investment Services |
|
|
|
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
196.9 |
181.6 |
150.5 |
130.9 |
107.0 |
|
Interest & Dividends on Investment Securities |
4.6 |
4.7 |
3.5 |
1.1 |
0.5 |
|
Interest Income, Bank |
201.5 |
186.3 |
154.0 |
132.0 |
107.4 |
|
Interest on Deposit |
141.8 |
123.5 |
82.1 |
85.5 |
73.2 |
|
Interest on Other Borrowings |
13.2 |
18.0 |
13.2 |
3.6 |
4.8 |
|
Total Interest Expense |
155.0 |
141.4 |
95.3 |
89.1 |
78.0 |
|
Net Interest Income |
46.5 |
44.9 |
58.7 |
42.9 |
29.5 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
14.9 |
19.9 |
16.1 |
8.7 |
10.2 |
|
Net Interest Income after Loan Loss Provision |
31.6 |
25.0 |
42.5 |
34.3 |
19.3 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
12.5 |
15.8 |
20.8 |
8.1 |
7.1 |
|
Commissions & Fees from Securities Activities |
9.6 |
10.5 |
9.1 |
7.0 |
5.4 |
|
Fees for Other Customer Services |
10.8 |
9.9 |
11.5 |
18.0 |
14.0 |
|
Investment Securities Gains |
23.2 |
19.2 |
58.9 |
40.6 |
29.3 |
|
Other Revenue |
7.6 |
16.7 |
13.5 |
4.7 |
5.3 |
|
Non-Interest Income, Bank |
63.6 |
72.2 |
113.8 |
78.4 |
61.2 |
|
Labor & Related Expenses |
-23.9 |
-23.9 |
-26.8 |
-17.8 |
-15.1 |
|
Depreciation Expense |
-4.3 |
-4.3 |
-3.6 |
-2.3 |
-1.9 |
|
Amortization of Intangibles |
-0.5 |
- |
- |
- |
- |
|
Litigation Expense |
-0.1 |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
|
Other Expense |
-23.6 |
-21.9 |
-23.6 |
-16.1 |
-10.4 |
|
Non-Interest Expense, Bank |
-52.5 |
-50.3 |
-54.2 |
-36.3 |
-27.5 |
|
Income Before Tax |
42.7 |
46.9 |
102.1 |
76.4 |
53.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
24.9 |
28.1 |
44.8 |
26.9 |
19.0 |
|
Income After Tax |
17.9 |
18.8 |
57.3 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
0.1 |
0.4 |
0.0 |
- |
|
Net Income Before Extraord Items |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
Net Income |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Basic EPS Excl Extraord Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Basic/Primary EPS Incl Extraord Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Diluted Net Income |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
Diluted Weighted Average Shares |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Diluted EPS Excl Extraord Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Diluted EPS Incl Extraord Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
3.3 |
3.4 |
2.8 |
2.3 |
1.9 |
|
Total Special Items |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Normalized Income Before Tax |
42.8 |
47.0 |
102.3 |
76.4 |
53.0 |
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|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
24.9 |
28.2 |
44.9 |
26.9 |
19.0 |
|
Normalized Income After Tax |
17.9 |
18.8 |
57.4 |
49.5 |
34.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
18.0 |
18.9 |
57.9 |
49.5 |
34.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Diluted Normalized EPS |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Amort of Intangibles, Supplemental |
0.5 |
0.6 |
- |
- |
- |
|
Rental Expenses |
3.1 |
3.0 |
2.5 |
2.1 |
1.6 |
|
Advertising Expense, Supplemental |
0.5 |
0.6 |
0.7 |
0.8 |
0.3 |
|
Bank Total Revenue |
110.2 |
117.0 |
172.5 |
121.3 |
90.7 |
|
Current Tax - Total |
24.1 |
29.0 |
45.4 |
25.0 |
20.1 |
|
Current Tax - Total |
24.1 |
29.0 |
45.4 |
25.0 |
20.1 |
|
Deferred Tax - Total |
0.7 |
-0.9 |
-0.6 |
1.9 |
-1.2 |
|
Deferred Tax - Total |
0.7 |
-0.9 |
-0.6 |
1.9 |
-1.2 |
|
Income Tax - Total |
24.9 |
28.1 |
44.8 |
26.9 |
19.0 |
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated |
Reclassified |
Restated |
Reclassified |
Updated |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
118.5 |
114.4 |
93.9 |
77.3 |
59.4 |
|
Fed Funds Sold/Securities Purch Under Resale Agrmnt |
137.3 |
90.0 |
74.3 |
44.7 |
38.8 |
|
Other Short Term Investments |
331.9 |
274.8 |
213.5 |
236.3 |
165.4 |
|
Other Earning Assets, Total |
469.1 |
364.7 |
287.8 |
281.0 |
204.2 |
|
Total Gross Loans |
1,399.8 |
1,252.2 |
1,368.3 |
1,040.5 |
836.8 |
|
Net Loans |
1,399.8 |
1,252.2 |
1,368.3 |
1,040.5 |
836.8 |
|
Land/Improvements |
- |
- |
- |
- |
27.7 |
|
Machinery/Equipment |
- |
- |
- |
- |
16.0 |
|
Property/Plant/Equipment - Gross |
77.9 |
71.8 |
69.4 |
43.4 |
43.7 |
|
Accumulated Depreciation |
-17.9 |
-13.5 |
-11.4 |
-8.1 |
-8.2 |
|
Property/Plant/Equipment - Net |
60.0 |
58.2 |
58.0 |
35.2 |
35.5 |
|
Other Assets |
114.1 |
97.3 |
89.2 |
112.2 |
85.9 |
|
Other Assets, Total |
114.1 |
97.3 |
89.2 |
112.2 |
85.9 |
|
Total Assets |
2,161.5 |
1,886.9 |
1,897.2 |
1,546.2 |
1,221.8 |
|
|
|
|
|
|
|
|
Interest Bearing Deposits |
1,358.0 |
1,168.3 |
1,262.1 |
1,123.2 |
935.1 |
|
Other Deposits |
365.0 |
247.2 |
82.8 |
76.4 |
59.8 |
|
Total Deposits |
1,723.0 |
1,415.4 |
1,344.9 |
1,199.6 |
994.9 |
|
Other Bearing Liabilities |
50.7 |
130.7 |
201.5 |
88.6 |
46.3 |
|
Other Bearing Liabilities, Total |
50.7 |
130.7 |
201.5 |
88.6 |
46.3 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.2 |
-0.2 |
0.1 |
0.0 |
- |
|
Other Liabilities |
188.3 |
157.5 |
150.1 |
109.5 |
81.6 |
|
Other Liabilities, Total |
188.3 |
157.5 |
150.1 |
109.5 |
81.6 |
|
Total Liabilities |
1,961.8 |
1,703.4 |
1,696.5 |
1,397.6 |
1,122.8 |
|
|
|
|
|
|
|
|
Common Stock |
54.5 |
45.0 |
45.5 |
37.0 |
32.4 |
|
Common Stock |
54.5 |
45.0 |
45.5 |
37.0 |
32.4 |
|
Retained Earnings (Accumulated Deficit) |
127.9 |
120.8 |
155.3 |
111.6 |
66.6 |
|
Unrealized Gain (Loss) |
16.5 |
16.5 |
- |
- |
- |
|
Translation Adjustment |
0.8 |
1.1 |
- |
- |
- |
|
Other Equity, Total |
0.8 |
1.1 |
- |
- |
- |
|
Total Equity |
199.8 |
183.4 |
200.7 |
148.6 |
98.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,161.5 |
1,886.9 |
1,897.2 |
1,546.2 |
1,221.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Total Common Shares Outstanding |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Employees |
- |
- |
- |
1,952 |
1,804 |
|
Number of Common Shareholders |
101,307 |
99,857 |
92,547 |
56,083 |
65,234 |
|
Total Capital Leases, Supplemental |
- |
- |
- |
- |
0.0 |
|
Capital Lease Payments Due in Year 1 |
- |
- |
- |
- |
0.0 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
196.8 |
189.0 |
154.0 |
131.1 |
107.4 |
|
Cash Payments |
-147.6 |
-144.1 |
-95.3 |
-89.0 |
-78.0 |
|
Cash Taxes Paid |
-15.3 |
-30.2 |
-27.0 |
-19.3 |
-13.1 |
|
Other Assets |
286.2 |
291.3 |
183.9 |
189.1 |
214.1 |
|
Other Liabilities |
-92.5 |
-64.0 |
94.7 |
53.4 |
21.1 |
|
Other Operating Cash Flow |
15.9 |
18.1 |
64.7 |
45.5 |
38.1 |
|
Loans, Gains/Losses |
-132.0 |
-80.5 |
-354.4 |
-208.6 |
-240.2 |
|
Changes in Working Capital |
77.6 |
165.0 |
-11.1 |
79.4 |
33.1 |
|
Cash from Operating Activities |
111.4 |
179.7 |
20.6 |
102.2 |
49.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-5.6 |
-6.5 |
-16.8 |
-1.3 |
-2.6 |
|
Capital Expenditures |
-5.6 |
-6.5 |
-16.8 |
-1.3 |
-2.6 |
|
Investment, Net |
-44.3 |
-70.0 |
-18.0 |
-36.5 |
-16.2 |
|
Purchase of Investments |
-10.2 |
-30.4 |
36.9 |
-35.6 |
-17.6 |
|
Other Investing Cash Flow Items, Total |
-54.6 |
-100.4 |
19.0 |
-72.1 |
-33.9 |
|
Cash from Investing Activities |
-60.2 |
-106.9 |
2.2 |
-73.4 |
-36.5 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-2.2 |
-4.3 |
-7.0 |
-4.8 |
0.0 |
|
Total Cash Dividends Paid |
-2.2 |
-4.3 |
-7.0 |
-4.8 |
0.0 |
|
Long Term Debt, Net |
0.4 |
-2.7 |
33.1 |
0.4 |
2.8 |
|
Issuance (Retirement) of Debt, Net |
0.4 |
-2.7 |
33.1 |
0.4 |
2.8 |
|
Cash from Financing Activities |
-1.8 |
-7.0 |
26.1 |
-4.5 |
2.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
- |
- |
- |
|
Net Change in Cash |
49.4 |
65.8 |
48.9 |
24.3 |
15.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
204.3 |
160.1 |
121.4 |
98.1 |
82.9 |
|
Net Cash - Ending Balance |
253.7 |
225.9 |
170.3 |
122.4 |
98.8 |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest Income - AB Int., Finance Ltd., |
9.6 |
13.0 |
12.6 |
0.9 |
0.0 |
|
Loans & Advances |
177.0 |
162.8 |
134.9 |
126.9 |
100.9 |
|
Bills purchased and discounted |
4.6 |
4.7 |
3.5 |
1.1 |
0.5 |
|
Interest on Banks |
10.3 |
5.8 |
3.0 |
3.0 |
6.0 |
|
Total Revenue |
201.5 |
186.3 |
154.0 |
132.0 |
107.4 |
|
|
|
|
|
|
|
|
Interest Paid on Deposits-AB Int. F Ltd |
1.2 |
0.5 |
3.9 |
0.1 |
0.2 |
|
Interest Paid on Deposits |
140.6 |
123.0 |
78.1 |
85.4 |
72.9 |
|
Interest on Borrowings |
13.2 |
18.0 |
13.2 |
3.6 |
4.8 |
|
Provision against Loans & Advances |
8.7 |
5.6 |
11.1 |
6.3 |
4.1 |
|
Provision for Dimunution in Value of Inv |
5.2 |
13.9 |
2.1 |
0.0 |
1.7 |
|
Other Provision |
1.0 |
0.4 |
2.9 |
2.4 |
4.4 |
|
Total Operating Expense |
169.9 |
161.3 |
111.4 |
97.7 |
88.2 |
|
|
|
|
|
|
|
|
Capital gain on sale of shares |
1.4 |
1.9 |
47.0 |
25.7 |
20.0 |
|
Interest on treasury bills |
2.6 |
1.2 |
1.6 |
2.6 |
3.1 |
|
Dividend on shares |
5.2 |
9.0 |
8.7 |
1.8 |
2.1 |
|
Interest on debentures |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Interest on treasury bonds |
23.6 |
22.4 |
12.5 |
11.1 |
5.6 |
|
Other |
-4.7 |
-7.5 |
-5.1 |
- |
- |
|
Gain on Treasury Bills & Treasury Bonds |
0.0 |
1.0 |
2.8 |
1.2 |
0.5 |
|
Interest on others bonds |
0.2 |
0.2 |
0.1 |
0.0 |
0.0 |
|
Commission, Exg., & Brok. - AB I F L |
2.8 |
6.3 |
10.9 |
0.2 |
0.9 |
|
Commission on letter of credit |
7.7 |
7.2 |
8.1 |
6.4 |
5.1 |
|
Commission on letter of guarantee |
2.0 |
2.2 |
1.8 |
1.5 |
1.1 |
|
Other fees, commission and service charg |
10.8 |
9.9 |
11.5 |
18.0 |
14.0 |
|
Exchange gains less losses arising from |
9.6 |
10.5 |
9.1 |
7.0 |
5.4 |
|
Other income |
2.3 |
7.8 |
4.8 |
3.0 |
3.3 |
|
Salary and allowances |
-23.8 |
-23.8 |
-26.6 |
-17.7 |
-15.0 |
|
Rent, taxes, insurance, electricity, etc |
-5.3 |
-4.8 |
-4.2 |
-3.5 |
-2.6 |
|
Legal expenses |
-0.1 |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
|
Postage, stamps, telecommunication, etc |
-1.7 |
-1.5 |
-1.6 |
-1.3 |
-0.9 |
|
Stationery, printing, advertisement, etc |
-1.9 |
-1.9 |
-2.1 |
-1.8 |
-1.0 |
|
Chief executive's salary and fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Directors' fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditors' fees |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation |
-3.3 |
-3.4 |
-2.8 |
-2.3 |
-1.9 |
|
Repairs |
-0.8 |
-0.7 |
-0.6 |
-0.6 |
-0.4 |
|
Amortization of Intangible Assets |
-0.5 |
- |
- |
- |
- |
|
Depreciation - AB Int. Finance Ltd |
-1.0 |
-0.9 |
-0.7 |
0.0 |
0.0 |
|
Other expenses |
-13.8 |
-12.9 |
-15.1 |
-8.9 |
-5.6 |
|
Total Non-Interest Revenue |
63.6 |
72.2 |
113.8 |
78.4 |
61.2 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-52.5 |
-50.3 |
-54.2 |
-36.3 |
-27.5 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
42.7 |
46.9 |
102.1 |
76.4 |
53.0 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
24.9 |
28.1 |
44.8 |
26.9 |
19.0 |
|
Net Income After Taxes |
17.9 |
18.8 |
57.3 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.1 |
0.1 |
0.4 |
0.0 |
- |
|
Net Income Before Extra. Items |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
Net Income |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Basic EPS Including ExtraOrdinary Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Diluted Net Income |
17.9 |
18.8 |
57.7 |
49.5 |
34.0 |
|
Diluted Weighted Average Shares |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Diluted EPS Including ExtraOrd Items |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
DPS-Fully Paid Ord. Shrs |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
42.8 |
47.0 |
102.3 |
76.4 |
53.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
24.9 |
28.2 |
44.9 |
26.9 |
19.0 |
|
Normalized Income After Taxes |
17.9 |
18.8 |
57.4 |
49.5 |
34.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
18.0 |
18.9 |
57.9 |
49.5 |
34.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Diluted Normalized EPS |
0.04 |
0.04 |
0.12 |
0.10 |
0.07 |
|
Depreciation, Supplemental |
3.3 |
3.4 |
2.8 |
2.3 |
1.9 |
|
Depreciation, Supplemental - AB IFL |
- |
- |
- |
0.0 |
0.0 |
|
Amort of Intangibles, Supplemental |
0.5 |
0.6 |
- |
- |
- |
|
Advertising Expense, Supplemental |
0.5 |
0.6 |
0.7 |
0.8 |
0.3 |
|
Rental Expense, Supplemental |
3.1 |
3.0 |
2.5 |
2.1 |
1.6 |
|
Current tax |
24.1 |
29.0 |
45.4 |
25.0 |
20.1 |
|
Current Tax - Total |
24.1 |
29.0 |
45.4 |
25.0 |
20.1 |
|
Deferred tax |
0.7 |
-0.9 |
-0.6 |
1.9 |
-1.2 |
|
Deferred Tax - Total |
0.7 |
-0.9 |
-0.6 |
1.9 |
-1.2 |
|
Income Tax - Total |
24.9 |
28.1 |
44.8 |
26.9 |
19.0 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated |
Reclassified |
Restated |
Reclassified |
Updated |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in Hand |
15.2 |
12.2 |
11.3 |
7.1 |
9.9 |
|
Balance with Bangladesh Bank |
103.3 |
102.2 |
82.6 |
70.2 |
49.6 |
|
Balance with other banks and financial i |
92.0 |
81.8 |
68.9 |
36.0 |
21.5 |
|
Money at call and on short notice |
45.2 |
8.1 |
5.4 |
8.7 |
17.3 |
|
Investments - Govt. & Others |
331.9 |
274.8 |
213.5 |
236.3 |
165.4 |
|
Loans, cash credits, overdrafts, etc |
1,370.8 |
1,217.0 |
1,311.0 |
1,006.8 |
789.6 |
|
Bills purchased and discounted |
29.0 |
35.2 |
57.3 |
33.7 |
47.1 |
|
Land & buildings |
- |
- |
- |
- |
27.6 |
|
Furniture & Fixtures |
- |
- |
- |
- |
2.6 |
|
Office Appliances |
- |
- |
- |
- |
0.7 |
|
Electrical Appliances |
- |
- |
- |
- |
8.6 |
|
Motor Vehicles |
- |
- |
- |
- |
3.8 |
|
Leasehold Property |
- |
- |
- |
- |
0.1 |
|
AB International Finance Limited |
- |
- |
- |
- |
0.2 |
|
Fixed assets including premises, furnitu |
77.9 |
71.8 |
69.4 |
43.4 |
- |
|
Accumulated Depreciation |
-17.9 |
-13.5 |
-11.4 |
-8.1 |
-8.2 |
|
Other assets |
114.1 |
97.3 |
89.2 |
112.2 |
85.9 |
|
Total Assets |
2,161.5 |
1,886.9 |
1,897.2 |
1,546.2 |
1,221.8 |
|
|
|
|
|
|
|
|
Borrowings from other banks, financial i |
50.7 |
130.7 |
201.5 |
88.6 |
46.3 |
|
Current accounts and otheraccounts |
166.1 |
154.4 |
173.2 |
93.5 |
73.5 |
|
Other demand deposits |
- |
- |
- |
36.3 |
36.6 |
|
Bills payable |
18.1 |
15.3 |
19.0 |
18.6 |
17.1 |
|
Savings bank deposits |
183.0 |
170.5 |
185.3 |
171.8 |
141.1 |
|
Short term deposits |
- |
- |
125.2 |
227.9 |
73.9 |
|
Fixed deposits |
990.8 |
828.1 |
757.5 |
573.2 |
591.1 |
|
Bearer certificates of deposit |
- |
- |
1.8 |
1.9 |
1.9 |
|
Other deposits |
365.0 |
247.2 |
82.8 |
76.4 |
59.8 |
|
Other liabilities |
188.3 |
157.5 |
150.1 |
109.5 |
81.6 |
|
Non- Controlling Interest |
-0.2 |
-0.2 |
0.1 |
0.0 |
- |
|
Total Liabilities |
1,961.8 |
1,703.4 |
1,696.5 |
1,397.6 |
1,122.8 |
|
|
|
|
|
|
|
|
Equity Paid-up capital |
54.5 |
45.0 |
45.5 |
37.0 |
32.4 |
|
Statutory reserve |
61.6 |
53.7 |
62.4 |
44.8 |
30.0 |
|
Other reserve |
1.5 |
1.5 |
22.2 |
14.2 |
9.8 |
|
Asset revaluation reserve |
16.3 |
16.3 |
- |
- |
- |
|
Foreign exchange reserve |
0.8 |
1.1 |
- |
- |
- |
|
Investment revaluation reserve |
0.2 |
0.2 |
- |
- |
- |
|
Retained earnings |
64.8 |
65.6 |
70.7 |
52.5 |
26.8 |
|
Total Equity |
199.8 |
183.4 |
200.7 |
148.6 |
98.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,161.5 |
1,886.9 |
1,897.2 |
1,546.2 |
1,221.8 |
|
|
|
|
|
|
|
|
S/O-Fully Paid Ord. Shrs |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Total Common Shares Outstanding |
497.6 |
497.6 |
497.6 |
497.6 |
497.6 |
|
Full-Time Employees |
- |
- |
- |
1,952 |
1,804 |
|
Number of Common Shareholders |
101,307 |
99,857 |
92,547 |
56,083 |
65,234 |
|
Capital Lease Payments Due within 1 Year |
- |
- |
- |
- |
0.0 |
|
Total Capital Leases, Supplemental |
- |
- |
- |
- |
0.0 |
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated |
Updated |
Updated |
Updated |
Updated |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
S. F. Ahmed & Co |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
196.8 |
189.0 |
154.0 |
131.1 |
107.4 |
|
Cash Payments |
-147.6 |
-144.1 |
-95.3 |
-89.0 |
-78.0 |
|
Dividend received |
5.2 |
0.6 |
1.5 |
1.8 |
2.1 |
|
Fee and commission receipts |
23.4 |
25.8 |
32.3 |
27.0 |
26.5 |
|
Recoveries on loans previously written o |
0.4 |
1.1 |
0.8 |
0.6 |
0.9 |
|
Payments to employees |
-23.9 |
-23.9 |
-26.1 |
-17.8 |
-15.0 |
|
Payments to suppliers |
-2.0 |
-2.0 |
-2.1 |
-1.8 |
-3.7 |
|
Cash Taxes Paid |
-15.3 |
-30.2 |
-27.0 |
-19.3 |
-13.1 |
|
Receipts from other operating activities |
34.5 |
36.8 |
79.2 |
49.9 |
36.7 |
|
Payments for other operating activities |
-21.8 |
-20.3 |
-20.9 |
-14.2 |
-9.4 |
|
Loans & Advances to Customers |
-132.0 |
-80.5 |
-354.4 |
-208.6 |
-240.2 |
|
Other assets |
-0.6 |
7.1 |
15.8 |
-21.3 |
-7.3 |
|
Deposits from other banks |
-18.5 |
5.2 |
19.9 |
-73.3 |
45.5 |
|
Deposits from customers |
305.4 |
279.0 |
148.2 |
283.7 |
175.9 |
|
Trading liabilities (short term borrowin |
-80.8 |
-44.6 |
83.1 |
41.1 |
16.5 |
|
Other liabilities |
-11.8 |
-19.4 |
11.6 |
12.3 |
4.7 |
|
Cash from Operating Activities |
111.4 |
179.7 |
20.6 |
102.2 |
49.5 |
|
|
|
|
|
|
|
|
Purchase/sale of property, plant and equ |
-5.6 |
-6.5 |
-16.8 |
-1.3 |
-2.6 |
|
Purchase/sale of government securities |
-44.3 |
-70.0 |
-18.0 |
-36.5 |
-16.2 |
|
Purchase/sale of trading securities, sha |
-10.2 |
-30.4 |
36.9 |
-35.6 |
-17.6 |
|
Cash from Investing Activities |
-60.2 |
-106.9 |
2.2 |
-73.4 |
-36.5 |
|
|
|
|
|
|
|
|
Increase/(decrease) of long term borrowi |
0.4 |
-2.7 |
33.1 |
0.4 |
2.8 |
|
Dividend paid |
-2.2 |
-4.3 |
-7.0 |
-4.8 |
0.0 |
|
Cash from Financing Activities |
-1.8 |
-7.0 |
26.1 |
-4.5 |
2.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
- |
- |
- |
|
Net Change in Cash |
49.4 |
65.8 |
48.9 |
24.3 |
15.8 |
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning o |
204.3 |
160.1 |
121.4 |
98.1 |
82.9 |
|
Cash and cash equivalents at end of year |
253.7 |
225.9 |
170.3 |
122.4 |
98.8 |
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.