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Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL BANK LTD |
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Registered Office : |
18 Dilkusha Commercial Area Dhaka, 1000 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.03.1983 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject is a private commercial bank. It provides range of products and services, which includes deposit products, credit products and cards |
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No. of Employees : |
4,023 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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 |
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
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Source
: CIA |
NATIONAL BANK LTD
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National Bank Limited (NBL) is a private commercial bank. It provides range of products and services, which includes deposit products, credit products and cards. The deposit products consist of savings deposit, current deposit, term deposit, foreign currency deposit and NBL monthly savings scheme. The credit products include overdraft, lease financing, house building, small medium enterprise, consumer credit scheme and trade finance. The card consists of credit card and NBL power card. The term deposit consists of short term deposit and fixed deposit. NBL offers overdraft facility for corporate customers and consumer credit facility for retail customers. NBL credit card has range of merchants, which include hotels, restaurants, airlines and travel agents, shopping malls and departmental stores, hospitals and diagnostic centers, jewelers, electronics, and computer shops. As of December 31, 2009, NBL had 130 branches and 15 small and medium enterprises/agri branches across Bangladesh. For the nine months ended 30 September 2013, National Bank Ltd interest income decreased 2% to BDT13.81B. Net interest loss after loan loss provision totaled BDT4.92B vs. income of BDT2.66B. Net loss totaled BDT3.86B vs. income of BDT1.21B. Net interest income after loan loss provision reflects decrease in interest earning assets and increase in interest bearing liabilities. |
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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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UK SIC 2007: |
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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 |
Dhaka |
Bangladesh |
Banking |
151.2 |
4,023 |
|
|
Subsidiary |
Singapore |
Singapore |
Mortgage and Credit |
5 |
||
|
Subsidiary |
Kuala Lumpur, Federal Territory |
Malaysia |
Mortgage and Credit |
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|
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 Normal |
Updated Normal |
Reclassified Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Aziz Halim Khair Choudhury |
Aziz Halim Khair Choudhury |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
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Interest & Fees on Loans |
233.1 |
195.5 |
138.2 |
101.5 |
84.4 |
|
Interest Income, Bank |
233.1 |
195.5 |
138.2 |
101.5 |
84.4 |
|
Interest on Deposit |
166.9 |
124.1 |
78.7 |
65.1 |
52.4 |
|
Total Interest Expense |
166.9 |
124.1 |
78.7 |
65.1 |
52.4 |
|
Net Interest Income |
66.2 |
71.4 |
59.5 |
36.5 |
32.0 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
7.4 |
4.5 |
1.9 |
2.9 |
4.3 |
|
Net Interest Income after Loan Loss Provision |
58.8 |
66.9 |
57.6 |
33.6 |
27.7 |
|
|
|
|
|
|
|
|
Commissions & Fees from Securities Activities |
21.8 |
28.3 |
23.0 |
21.7 |
22.4 |
|
Investment Securities Gains |
52.1 |
45.0 |
87.9 |
25.8 |
13.7 |
|
Other Unusual Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Revenue |
9.8 |
12.3 |
17.4 |
11.0 |
9.6 |
|
Non-Interest Income, Bank |
85.0 |
105.1 |
128.6 |
58.4 |
45.7 |
|
Labor & Related Expenses |
-34.0 |
-28.2 |
-29.1 |
-22.3 |
-17.7 |
|
Depreciation Expense |
-3.2 |
-3.2 |
-2.5 |
- |
- |
|
Other Expense |
-66.8 |
-13.0 |
-27.8 |
-23.1 |
-14.2 |
|
Non-Interest Expense, Bank |
-104.0 |
-44.4 |
-59.5 |
-45.5 |
-32.0 |
|
Income Before Tax |
39.8 |
127.6 |
126.8 |
46.5 |
41.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
22.3 |
45.1 |
28.0 |
16.3 |
19.1 |
|
Income After Tax |
17.5 |
82.5 |
98.7 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extraord Items |
17.5 |
82.5 |
98.7 |
30.2 |
22.2 |
|
Net Income |
17.5 |
82.5 |
98.7 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
17.5 |
82.6 |
98.7 |
30.2 |
22.2 |
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Income Available to Common Incl Extraord Items |
17.5 |
82.6 |
98.7 |
30.2 |
22.2 |
|
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Basic/Primary Weighted Average Shares |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
Diluted Net Income |
17.5 |
82.6 |
98.7 |
30.2 |
22.2 |
|
Diluted Weighted Average Shares |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
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 |
0.2 |
3.2 |
2.5 |
- |
- |
|
Total Special Items |
-1.3 |
-19.5 |
-0.3 |
- |
- |
|
Normalized Income Before Tax |
38.5 |
108.1 |
126.5 |
46.5 |
41.4 |
|
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|
|
|
|
|
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Effect of Special Items on Income Taxes |
-0.7 |
-6.9 |
-0.1 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
21.6 |
38.2 |
28.0 |
16.3 |
19.1 |
|
Normalized Income After Tax |
16.9 |
69.9 |
98.5 |
30.2 |
22.2 |
|
|
|
|
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|
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Normalized Inc. Avail to Com. |
16.9 |
69.9 |
98.5 |
30.2 |
22.2 |
|
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|
|
|
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Basic Normalized EPS |
0.01 |
0.05 |
0.07 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.05 |
0.07 |
0.02 |
0.02 |
|
Rental Expenses |
3.3 |
2.7 |
2.2 |
- |
- |
|
Bank Total Revenue |
151.2 |
176.5 |
188.1 |
94.9 |
77.6 |
|
Current Tax - Domestic |
22.2 |
45.0 |
27.6 |
16.7 |
19.1 |
|
Current Tax - Total |
22.2 |
45.0 |
27.6 |
16.7 |
19.1 |
|
Deferred Tax - Domestic |
0.1 |
0.1 |
0.4 |
-0.3 |
0.0 |
|
Deferred Tax - Total |
0.1 |
0.1 |
0.4 |
-0.3 |
0.0 |
|
Income Tax - Total |
22.3 |
45.1 |
28.0 |
16.3 |
19.1 |
|
Other Pension, Net - Domestic |
0.9 |
0.4 |
1.0 |
- |
- |
|
Domestic Pension Plan Expense |
0.9 |
0.4 |
1.0 |
- |
- |
|
Defined Contribution Expense - Domestic |
1.1 |
0.8 |
0.8 |
- |
- |
|
Total Pension Expense |
2.0 |
1.3 |
1.8 |
- |
- |
|
Total Plan Other Expense |
0.9 |
0.4 |
1.0 |
- |
- |
|
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 Normal |
Updated Normal |
Reclassified Normal |
Restated Normal |
Reclassified Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Aziz Halim Khair Choudhury |
Aziz Halim Khair Choudhury |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
216.6 |
187.1 |
171.6 |
133.3 |
96.2 |
|
Fed Funds Sold/Securities Purch Under Resale Agrmnt |
10.5 |
8.8 |
1.4 |
19.6 |
44.8 |
|
Other Short Term Investments |
55.9 |
65.3 |
84.9 |
51.0 |
51.5 |
|
Total Investment Securities |
663.1 |
366.5 |
354.1 |
177.4 |
132.7 |
|
Other Earning Assets, Total |
729.4 |
440.6 |
440.4 |
248.0 |
229.0 |
|
Net Loans |
1,507.3 |
1,353.0 |
1,220.6 |
889.4 |
683.8 |
|
Buildings |
9.0 |
9.1 |
7.6 |
- |
- |
|
Land/Improvements |
6.9 |
7.0 |
15.9 |
- |
- |
|
Machinery/Equipment |
24.5 |
21.1 |
20.3 |
- |
- |
|
Other Property/Plant/Equipment |
0.4 |
0.3 |
0.2 |
- |
- |
|
Property/Plant/Equipment - Gross |
40.7 |
37.4 |
44.0 |
- |
- |
|
Accumulated Depreciation |
-15.7 |
-13.2 |
-12.2 |
- |
- |
|
Property/Plant/Equipment - Net |
25.1 |
24.2 |
31.8 |
26.4 |
23.1 |
|
Other Assets |
41.5 |
54.9 |
47.6 |
30.7 |
16.2 |
|
Other Assets, Total |
41.5 |
54.9 |
47.6 |
30.7 |
16.2 |
|
Total Assets |
2,519.9 |
2,059.8 |
1,912.0 |
1,327.8 |
1,048.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
24.9 |
24.7 |
30.3 |
18.6 |
18.0 |
|
Non-Interest Bearing Deposits |
210.9 |
196.0 |
200.4 |
150.1 |
127.6 |
|
Interest Bearing Deposits |
1,689.0 |
1,337.2 |
1,223.3 |
940.7 |
728.0 |
|
Other Deposits |
- |
- |
- |
-0.1 |
-0.1 |
|
Total Deposits |
1,899.9 |
1,533.1 |
1,423.8 |
1,090.8 |
855.5 |
|
Other Short Term Borrowings |
30.8 |
30.6 |
35.5 |
0.0 |
- |
|
Total Short Term Borrowings |
189.5 |
101.9 |
93.7 |
20.1 |
18.2 |
|
Current Portion - Long Term Debt/Capital Leases |
0.3 |
0.4 |
0.0 |
- |
- |
|
Dividends Payable |
0.1 |
0.1 |
0.1 |
- |
- |
|
Income Taxes Payable |
20.3 |
35.7 |
19.5 |
- |
- |
|
Other Current liabilities, Total |
20.4 |
35.8 |
19.6 |
- |
- |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
189.8 |
102.3 |
93.7 |
20.1 |
18.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.4 |
0.3 |
0.3 |
- |
- |
|
Deferred Income Tax |
0.4 |
0.3 |
0.3 |
- |
- |
|
Minority Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Liabilities |
109.3 |
100.1 |
73.1 |
69.6 |
67.5 |
|
Other Liabilities, Total |
109.3 |
100.1 |
73.1 |
69.6 |
67.5 |
|
Total Liabilities |
2,244.7 |
1,796.3 |
1,640.7 |
1,199.1 |
959.2 |
|
|
|
|
|
|
|
|
Common Stock |
174.8 |
105.1 |
62.6 |
41.5 |
27.4 |
|
Common Stock |
174.8 |
105.1 |
62.6 |
41.5 |
27.4 |
|
Retained Earnings (Accumulated Deficit) |
100.3 |
158.4 |
208.7 |
87.7 |
61.8 |
|
Other Equity |
- |
- |
- |
-0.4 |
-0.2 |
|
Other Equity, Total |
- |
- |
- |
-0.4 |
-0.2 |
|
Total Equity |
275.1 |
263.5 |
271.3 |
128.8 |
89.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,519.9 |
2,059.8 |
1,912.0 |
1,327.8 |
1,048.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Total Common Shares Outstanding |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Employees |
3,919 |
3,758 |
- |
- |
- |
|
Number of Common Shareholders |
- |
72,374 |
- |
- |
- |
|
Tier 1 Capital % |
10.52% |
10.32% |
9.10% |
- |
- |
|
Total Capital % |
12.79% |
12.65% |
12.29% |
- |
- |
|
Total Long Term Debt, Supplemental |
158.7 |
71.4 |
58.2 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
158.7 |
71.4 |
58.2 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
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 Normal |
Updated Normal |
Reclassified Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Aziz Halim Khair Choudhury |
Aziz Halim Khair Choudhury |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
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 Normal |
Updated Normal |
Reclassified Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Aziz Halim Khair Choudhury |
Aziz Halim Khair Choudhury |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest Income |
233.1 |
195.5 |
138.2 |
101.5 |
84.4 |
|
Total Revenue |
233.1 |
195.5 |
138.2 |
101.5 |
84.4 |
|
|
|
|
|
|
|
|
Interest paid on deposits & borrowings |
166.9 |
124.1 |
78.7 |
65.1 |
52.4 |
|
Provision for loans & advances |
7.4 |
4.5 |
1.9 |
2.9 |
4.3 |
|
Total Operating Expense |
174.4 |
128.6 |
80.6 |
67.9 |
56.7 |
|
|
|
|
|
|
|
|
Investment income |
52.1 |
45.0 |
87.9 |
25.8 |
13.7 |
|
Commission, exchange & brokerage |
21.8 |
28.3 |
23.0 |
21.7 |
22.4 |
|
Gain on sales of assets |
1.3 |
19.5 |
0.3 |
- |
- |
|
Other operating income |
9.8 |
12.3 |
17.4 |
11.0 |
9.6 |
|
Salary & allowances |
-33.8 |
-28.1 |
-29.0 |
-22.2 |
-17.6 |
|
Rent, taxes, insurance, electricity etc. |
-5.6 |
-4.3 |
-3.6 |
-2.7 |
-2.2 |
|
Legal expenses |
-0.2 |
-0.2 |
-0.6 |
-0.1 |
-0.1 |
|
Postage, stamp, telecommunication etc. |
-0.9 |
-0.8 |
-0.7 |
-0.6 |
-0.6 |
|
Stationery, printing, advertisement etc. |
-1.5 |
-1.5 |
-1.8 |
-1.6 |
-1.2 |
|
Managing director's salary & allowances |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Director's fees & other benefits |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Audit fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Charges on loan losses |
-41.5 |
0.0 |
-15.1 |
-12.4 |
-5.4 |
|
Depreciation |
-3.2 |
-3.2 |
-2.5 |
- |
- |
|
Repairs, maintenance & depreciation |
-1.0 |
-0.9 |
-0.6 |
-2.2 |
-1.6 |
|
Other expenses |
-15.9 |
-5.2 |
-5.3 |
-3.4 |
-3.1 |
|
Total Non-Interest Revenue |
85.0 |
105.1 |
128.6 |
58.4 |
45.7 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-104.0 |
-44.4 |
-59.5 |
-45.5 |
-32.0 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
39.8 |
127.6 |
126.8 |
46.5 |
41.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
22.3 |
45.1 |
28.0 |
16.3 |
19.1 |
|
Net Income After Taxes |
17.5 |
82.5 |
98.7 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Non-controling interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extra. Items |
17.5 |
82.5 |
98.7 |
30.2 |
22.2 |
|
Net Income |
17.5 |
82.5 |
98.7 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Effect of changes in exchange rates |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
17.5 |
82.6 |
98.7 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
17.5 |
82.6 |
98.7 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
Diluted Net Income |
17.5 |
82.6 |
98.7 |
30.2 |
22.2 |
|
Diluted Weighted Average Shares |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
0.06 |
0.07 |
0.02 |
0.02 |
|
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 |
38.5 |
108.1 |
126.5 |
46.5 |
41.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
21.6 |
38.2 |
28.0 |
16.3 |
19.1 |
|
Normalized Income After Taxes |
16.9 |
69.9 |
98.5 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
16.9 |
69.9 |
98.5 |
30.2 |
22.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.05 |
0.07 |
0.02 |
0.02 |
|
Diluted Normalized EPS |
0.01 |
0.05 |
0.07 |
0.02 |
0.02 |
|
Depreciation, Supplemental |
0.2 |
3.2 |
2.5 |
- |
- |
|
Rental Expense, Supplemental |
3.3 |
2.7 |
2.2 |
- |
- |
|
Provision for taxation |
22.2 |
45.0 |
27.6 |
16.7 |
19.1 |
|
Current Tax - Total |
22.2 |
45.0 |
27.6 |
16.7 |
19.1 |
|
Provision for deferred taxes |
0.1 |
0.1 |
0.4 |
-0.3 |
0.0 |
|
Deferred Tax - Total |
0.1 |
0.1 |
0.4 |
-0.3 |
0.0 |
|
Income Tax - Total |
22.3 |
45.1 |
28.0 |
16.3 |
19.1 |
|
Gratuity |
0.9 |
0.4 |
1.0 |
- |
- |
|
Domestic Pension Plan Expense |
0.9 |
0.4 |
1.0 |
- |
- |
|
Defined Contribution Expense - Domestic |
1.1 |
0.8 |
0.8 |
- |
- |
|
Total Pension Expense |
2.0 |
1.3 |
1.8 |
- |
- |
|
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 Normal |
Updated Normal |
Reclassified Normal |
Restated Normal |
Reclassified Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Howladar Yunus & Co. |
Aziz Halim Khair Choudhury |
Aziz Halim Khair Choudhury |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in hand |
33.4 |
23.9 |
21.0 |
18.7 |
15.3 |
|
Balance with Bangladesh Bank & its agent |
138.6 |
102.6 |
102.5 |
80.2 |
63.5 |
|
Balance with other banks & financial ins |
44.6 |
60.6 |
48.1 |
34.4 |
17.4 |
|
Investments |
663.1 |
366.5 |
354.1 |
177.4 |
132.7 |
|
Money at call & short notice investments |
10.5 |
8.8 |
1.4 |
19.6 |
44.8 |
|
Loans, cash credits, overdrafts etc. |
1,507.3 |
1,353.0 |
1,220.6 |
889.4 |
683.8 |
|
Bills purchased & discounted |
55.9 |
65.3 |
84.9 |
51.0 |
51.5 |
|
Land |
6.9 |
7.0 |
15.9 |
- |
- |
|
Buildings |
9.0 |
9.1 |
7.6 |
- |
- |
|
Furniture |
7.5 |
6.4 |
6.4 |
- |
- |
|
General Equipment |
7.7 |
6.6 |
6.2 |
- |
- |
|
Computer Equipment |
6.5 |
5.7 |
5.6 |
- |
- |
|
Vehivles |
2.4 |
2.0 |
2.2 |
- |
- |
|
Vehivles - Leased |
0.4 |
0.4 |
0.0 |
- |
- |
|
Books |
0.0 |
0.0 |
0.0 |
- |
- |
|
Depreciation |
-15.7 |
-13.2 |
-12.2 |
- |
- |
|
Subsidiary Companies Balance |
0.4 |
0.3 |
0.2 |
- |
- |
|
Fixed assets including land, buildings, |
- |
- |
- |
26.4 |
23.1 |
|
Other assets |
37.3 |
50.6 |
42.2 |
25.2 |
10.4 |
|
Non-banking assets |
4.2 |
4.3 |
5.5 |
5.6 |
5.8 |
|
Total Assets |
2,519.9 |
2,059.8 |
1,912.0 |
1,327.8 |
1,048.1 |
|
|
|
|
|
|
|
|
Borrowings from other Banks, Financial I |
158.7 |
71.4 |
58.2 |
20.1 |
18.2 |
|
Current deposits and other accounts |
210.9 |
196.0 |
200.4 |
150.1 |
127.6 |
|
Bills payable |
24.9 |
24.7 |
30.3 |
18.6 |
18.0 |
|
Savings bank deposits |
282.3 |
268.0 |
273.7 |
238.4 |
192.0 |
|
Fixed deposits |
939.9 |
715.1 |
621.6 |
456.3 |
356.3 |
|
Term deposits |
466.8 |
354.1 |
327.8 |
245.8 |
179.4 |
|
Bearer certificates of deposits |
- |
0.0 |
0.2 |
0.2 |
0.2 |
|
Intragroup balance |
- |
- |
- |
-0.1 |
-0.1 |
|
Unpaid Dividend |
0.1 |
0.1 |
0.1 |
- |
- |
|
Income tax |
20.3 |
35.7 |
19.5 |
- |
- |
|
Finance Lease |
0.3 |
0.4 |
0.0 |
- |
- |
|
Other liabilities |
109.3 |
100.1 |
73.1 |
69.6 |
67.5 |
|
Subordinated Bond |
30.8 |
30.6 |
35.5 |
0.0 |
- |
|
Deferred Tax |
0.4 |
0.3 |
0.3 |
- |
- |
|
Minority interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Liabilities |
2,244.7 |
1,796.3 |
1,640.7 |
1,199.1 |
959.2 |
|
|
|
|
|
|
|
|
Paid up capital |
174.8 |
105.1 |
62.6 |
41.5 |
27.4 |
|
Intragroup balance |
- |
- |
- |
-0.4 |
-0.2 |
|
Statutory reserve |
82.7 |
74.0 |
59.3 |
34.9 |
25.8 |
|
General reserve |
0.6 |
6.1 |
7.1 |
7.2 |
9.2 |
|
Revaluation Reserve |
7.5 |
15.2 |
69.7 |
- |
- |
|
Other reserve |
- |
- |
- |
22.9 |
12.6 |
|
Retained earnings |
9.5 |
63.0 |
72.5 |
22.7 |
14.2 |
|
Total Equity |
275.1 |
263.5 |
271.3 |
128.8 |
89.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,519.9 |
2,059.8 |
1,912.0 |
1,327.8 |
1,048.1 |
|
|
|
|
|
|
|
|
S/O-Fully Paid Ord. Shrs |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Total Common Shares Outstanding |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
1,419.6 |
|
Tier 1 Capital % |
10.52% |
10.32% |
9.10% |
- |
- |
|
Total Capital % |
12.79% |
12.65% |
12.29% |
- |
- |
|
Full-Time Employees |
3,919 |
3,758 |
- |
- |
- |
|
Number of Common Shareholders |
- |
72,374 |
- |
- |
- |
|
Long Term Debt Maturing within 1 Year |
158.7 |
71.4 |
58.2 |
- |
- |
|
Total Long Term Debt, Supplemental |
158.7 |
71.4 |
58.2 |
- |
- |
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
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.