MIRA INFORM REPORT

 

 

Report Date :

03.03.2014

 

IDENTIFICATION DETAILS

 

Name :

AGRANI BANK LIMITED.

 

 

Registered Office :

9-D, Dilkusha Commercial Area, Motijheel, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

26.06.1972

 

 

Com. Reg. No.:

C-66888    

 

 

Legal Form :

State-owned Company

 

 

Line of Business :

Subject is engaged in the Banking Financial Services.  

 

 

No. of Employees :

13,890

 

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 – 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

 

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

AGRANI BANK LIMITED.

Head Office

:

9-D, Dilkusha Commercial Area, Motijheel, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9566153-4, 9566160-9, 9566074-5

Fax No

:

88-02-9562346, 9563662, 9563658

E-mail

:

dgmfrmd@agranibank.org,

faqrul@agranibank.org,

agrani@agranibank.org

Website

:

www.agranibank.org

Date/ Year of Incorporation

:

26.06.1972

Incorporation No.

:

C-66888    

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

       Income

 Assets

Net Profit/(Loss) before tax

31st December 2011

Tk. 108,916,690

Tk. 3,251,907,732

Tk. 37,053,721

31st  December 2012

Tk. 139,560,841

Tk. 4,651,389,629

Tk. 31,570,696

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. Hawlader Younus.

Designation

:

Chartered Accountants.

Contract No

:

-

 

 

                                                               Locations Details

 

Operating Address

:

9-D, Dilkusha Commercial Area, Motijheel, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9566153-4, 9566160-9, 9566074-5

E-mail

:

dgmfrmd@agranibank.org,  faqrul@agranibank.org, agrani@agranibank.org

Fax No

:

88-02-9562346, +88-02-9563662, +88-02-9563658

Website

:

www.agranibank.org

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

20, 000

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

 

Branches:

 

 

 

 

 

Branch No.

:

876 Branches.

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

13890

In Factory

:

-

In Branch:

:

-

Total

:

13,890

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Government of Bangladesh

                              9,91,29,392

Directors

                                             12

 

 

DIRECTORS

 

Name

Designation

Khondoker Bazlul Hoque,

Chairman

Syed Abdul Hamid,

Managing Director

Prof. Dr. Md. Abdur Rouf Sardar

Director

Niaz Rahim

Director

Hasina Newaaz

Director

A B M Kamarul Islam

Director

Md. Altaf Hossain Molla

Director

Shameem Ahsan

Director

Prof. Dr. Md. Abdur Rouf Sardar

Director

Advocate Balaram Podder

Director

Arastoo Khan

Director

A K Gulam Kibria,

Director

Engineer Md. Abdus Sabur

Director

K M N Manjurul Hoque Lablu

Director

 

 

MANAGEMENT

 

Name

:

Mr. Hawlader Younus.

Job Description

:

Chartered Accountants.

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Commercial Banking

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Banking Financial Services.  

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

:

Howlader Yunus & Co.

Chartered Accountants

Operation Status

:

Active.

Member

:

Dhaka Chamber of Commerce & Industry, Dhaka.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 2500.00 Crore

 

Paid-up Capital

:

Tk. 9912940400

    No. of Shares

:

9,91,29,404

Share Value

:

Tk.100.00Each

Main Assets

:

Tk.  128,292,542,020

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

We attach the financial Documents.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

6 Nos.

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

The City Bank Ltd.

Bank Name  

:

Al-Arafa Bank ltd.

Bank Name  

:

First Security Islami Bank Ltd.

Bank Name  

:

Bangladesh Commerce Bank Ltd.

Bank Name  

:

Islami Bank Bangladesh Ltd.

Bank Name  

:

Bank Asia Ltd.

Bank Name  

:

Jamuna Bank ltd.

Bank Name  

:

National Bank of Pakistan

Bank Name  

:

ICB Islamic Bank Ltd.

Bank Name  

:

Southeast Bank Ltd.

Bank Name  

:

The City Bank Ltd.

 

 

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

 

The subject company is a State Own company engaged in Banking. Its head office situated at 9-D Motijheel Commercial Area, Dhaka-1000, Bangladesh. The subject company is financially solvent & they get good support from their Banks.

 

Dr. Khondoker Bazlul Hoque-Chairman of the company. He is a very experienced businessman in this line of trade.

 

This company is ok for normal business engagements.

 

 

GENERAL COMMENTS

 

Repeated attempts to obtain and verify information from SC were unsuccessful as they declined all information citing confidentiality. Please note that our credit rating is based on information gathered from external sources as well as information obtained from past interviews.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.07

UK Pound

1

Rs.103.61

Euro

1

Rs.85.03

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.