MIRA INFORM REPORT
|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISLAMI BANK BANGLADESH LIMITED |
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Registered Office : |
Islami Bank Tower, 40, Dilkusha Commercial Area,
G, PO Box No.23, 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 : |
13.03.1983 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Provision of interest-free
commercial banking services based on Islamic Shariah law Subject conducts its business on the Shari’ah
principles of Mudaraba, Musharaka, Bai-Murabaha, Bai-Muajjal, Hire Purchase
under Shirkatul Melk, Bai-Salam and Bai-as-Sarf Subject
provides financial products and services to individual customers, corporate
customers, government, small and medium enterprises and institution. Subject product
portfolio includes investment modes, deposit, rural development and special
schemes. |
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No. of Employees |
12,188 |
RATING & COMMENTS
|
MIRAs Rating : |
A |
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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 |
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Status : |
Good |
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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 december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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.
|
Source : CIA |
Company
name & address
Islami Bank Bangladesh Limited
Islami Bank Tower
40, Dilkusha Commercial Area,G
PO Box No.23
Dhaka, 1000
Bangladesh
Tel:
880-2-9563040
Fax:
880-2-9564532
Web: www.islamibankbd.com
Synthesis
Employees:
12,188
Company Type:
Public Independent
Traded: Dhaka
Stock Exchange: ISLAMIBANK
Incorporation Date: 13-Mar-1983
Auditor:
ACNABIN
Financials in: USD (Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency:
Bangladesh Taka
Annual Sales:
301.3 1
Net Income:
68.6
Total Assets:
5,944.0 2
Market Value:
661.0 (13-Feb-2014)
Business Description
Islami Bank Bangladesh Limited is a banking
Company. The Company conducts its business on the Shari’ah principles of
Mudaraba, Musharaka, Bai-Murabaha, Bai-Muajjal, Hire Purchase under Shirkatul
Melk, Bai-Salam and Bai-as-Sarf. There is a Shari‘ah Supervisory Committee in
the Bank who ensures that the activities of the Company are being conducted on
the precepts of Islam. The Bank carries out its business activities through its
Head Office in Dhaka, 14 Zonal Offices and 276 branches including 30 small and
medium-sized enterprise (SME)/Agriculture branches in Bangladesh. The
Company’s deposits include Al-Wadeeah Current Account, Mudaraba Savings
Account, Mudaraba Term Deposit Receipt, Mudaraba Special Notice Account,
Mudaraba Special Savings (Pension) Account and Mudaraba Hajj Savings Account.
It investment modes include Bai- Muajjal, Bai-Murabaha and Hire Purchase under
Shirkatul Meelk. For the nine months ended 30 September 2013, Islami Bank
Bangladesh Limited interest income increased 11% to BDT35.61B. Net interest
income after loan loss provision decreased 33% to BDT7.57B. Net income
decreased 62% to BDT1.94B. Net interest income after loan loss provision
reflects decrease in interest earning assets and increase in interest bearing
liabilities.
Industry
Industry Banking
ANZSIC 2006:
6221 - Banking
ISIC Rev 4:
6419 - Other monetary intermediation
NACE Rev 2:
6419 - Other monetary intermediation
NAICS 2012:
52211 - Commercial Banking
UK SIC 2007:
64191 - Banks
US SIC 1987:
6029 - Commercial Banks, Not Elsewhere Classified
Key
Executives
|
Name |
Title |
|
Managing Director, Director |
|
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Director - Representative of ICB Asset Management Co. Ltd. |
|
|
Director - Representative of Islamic Development Bank |
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Chairman of the Board - Representative of Ibn Sina Pharmaceuticals
Ltd. |
|
|
Muhammad Abul Bashar |
Deputy Managing Director |
Financial
Summary
|
Stock
Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = BDT
81.86564
2 - Balance Sheet Item Exchange Rate: USD 1 = BDT
81.2
Corporate Overview
Location
Islami Bank Tower
40, Dilkusha Commercial Area,G
PO Box No.23
Dhaka, 1000
Bangladesh
Tel: 880-2-9563040
Fax: 880-2-9564532
Web: www.islamibankbd.com
Quote Symbol - Exchange
ISLAMIBANK - Dhaka Stock Exchange
Sales BDT(mil): 24,669.0
Assets BDT(mil): 482,649.5
Employees: 12,188
Fiscal Year End: 31-Dec-2012
Industry: Commercial
Banks
Incorporation Date: 13-Mar-1983
Company Type: Public
Independent
Quoted Status: Quoted
Executive Vice President: Abdus Sadeque Bhuiyan
Industry Codes
ANZSIC 2006
Codes:
6221 - Banking
ISIC Rev 4 Codes:
6419 - Other
monetary intermediation
NACE Rev 2 Codes:
6419 - Other
monetary intermediation
NAICS 2012 Codes:
52211 - Commercial
Banking
US SIC 1987:
6029 - Commercial
Banks, Not Elsewhere Classified
UK SIC 2007:
64191 - Banks
Business Description
Islami Bank
Bangladesh Limited is a banking Company. The Company conducts its business on
the Shari’ah principles of Mudaraba, Musharaka, Bai-Murabaha, Bai-Muajjal,
Hire Purchase under Shirkatul Melk, Bai-Salam and Bai-as-Sarf. There is a
Shari‘ah Supervisory Committee in the Bank who ensures that the activities of
the Company are being conducted on the precepts of Islam. The Bank carries out
its business activities through its Head Office in Dhaka, 14 Zonal Offices and
276 branches including 30 small and medium-sized enterprise (SME)/Agriculture
branches in Bangladesh. The Company’s deposits include Al-Wadeeah Current
Account, Mudaraba Savings Account, Mudaraba Term Deposit Receipt, Mudaraba
Special Notice Account, Mudaraba Special Savings (Pension) Account and Mudaraba
Hajj Savings Account. It investment modes include Bai- Muajjal, Bai-Murabaha
and Hire Purchase under Shirkatul Meelk. For the nine months ended 30 September
2013, Islami Bank Bangladesh Limited interest income increased 11% to
BDT35.61B. Net interest income after loan loss provision decreased 33% to
BDT7.57B. Net income decreased 62% to BDT1.94B. Net interest income after loan
loss provision reflects decrease in interest earning assets and increase in
interest bearing liabilities.
More Business Descriptions
Provision of
interest-free commercial banking services based on Islamic Shariah law
Commercial
Banking Services
Islami Bank
Bangladesh Limited (Islami Bank) is a commercial banking services provider. The
bank’s product portfolio includes investment modes, deposit, rural
development and special schemes. It provides financial products and services to
individual customers, corporate customers, government, small and medium
enterprises and institution. Islami Bank also offers foreign exchange and small
and medium enterprises (SMEs) services. The bank serves to customers in
Southeast Asia. The bank’s activities include maintaining deposit accounts,
make investments, conduct foreign exchange business, extend other banking
services, and to conduct social welfare activities through Islami Bank
Foundation. It offers various deposit schemes such as Al-Wadeeah Current
Account, Mudaraba Term Deposit Receipt, Mudaraba Savings Bond Scheme, Mudaraba
Savings Account, Mudaraba Special Notice Account, Mudaraba Special Savings
(Pension) Account, Mudaraba Hajj Savings Account, Mudaraba Foreign Currency
Deposit Scheme (Savings), Mudaraba Waqf Cash Deposit Account, Mudaraba Monthly
Profit Deposit Scheme and Mudaraba Muhor Savings Deposit Scheme. Islami
Bank’s investment services include Bai- Muajjal, Bai- Murabaha, Hire purchase
under Shirkatul Meelk, Mudarabah, Musharaka, Bai- Salam and Equity and
entrepreneurship Fund of Bangladesh Bank. The bank also offers various
Investment schemes such as household durables scheme (HDS), real estate
investment program, micro industries investment scheme, car investment scheme,
transport investment program, small business investment scheme, agriculture
implements investment scheme, investment scheme for doctors and micro
industries investment scheme. It has the rural development scheme that offers
investment facilities to rural housing, agricultural, other farming and
off-farming activities in the rural areas. Islami Bank offers finance for
self-employment, educational services, safe drinking water, sanitation and
medicare facilities and income generating activities. The bank also offers
finance for the investment needs of agriculture and rural sector; and automated
teller machine services. It also provides locker and inter-bank financial
telecommunication services and also offers foreign exchange services. The
foreign exchange business of Islami Bank offers remittance arrangements and NBR
services.Islami Bank offers services such as NRB services, SME services,
foreign exchange business services, locker services and offshore banking
services. It operates through 12 zonal offices, 246 branches, and 30
SME/agriculture branches.
Islami Bank
Bangladesh Limited (Islami Bank) is a commercial banking services provider. The
bank’s product portfolio includes investment modes, deposit, rural
development and special schemes. Its activities include maintaining deposit
accounts, make investments, conduct foreign exchange business, extend other banking
services, and to conduct social welfare activities through Islami Bank
Foundation. Islami Bank offers various deposit schemes such as Al-Wadeeah
Current Account, Mudaraba Term Deposit Receipt, Mudaraba Savings Bond Scheme,
and Mudaraba Savings Account. The bank’s investment services include Bai-
Muajjal, Bai- Murabaha, Hire purchase under Shirkatul Meelk, Mudarabah,
Musharaka, Bai- Salam and Equity and entrepreneurship Fund of Bangladesh Bank.
It has the rural development scheme that offers investment facilities to rural
housing, agricultural, other farming and off-farming activities in the rural
areas. The bank offers NRB services, SME service, foreign exchange, locker
service, and offshore banking services. Islami Bank is headquartered in Dhaka, Bangladesh.The
bank reported interest income of (Bangladeshi Taka) BDT 43,672.23 million
during the fiscal year ended December 2012, an increase of 36.39% over 2011.
The net interest income after loan loss provision of the bank was BDT 14,258.76
million during the fiscal year 2012, an increase of 30.28% over 2011. The net
profit of the bank was BDT 5,616.75 million during the fiscal year 2012, an
increase of 21.45% over 2011.
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Executive report
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Board of
Directors |
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Chairman of the Board - Representative of Ibn Sina Pharmaceuticals
Ltd. |
Chairman |
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Foreign Director, Vice Chairman |
Vice-Chairman |
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Vice Chairman of the Board - Representative of Al-Rajhi Co. for
Industry & Trade, Riyadh, K.S.A. |
Vice-Chairman |
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Vice Chairman of the Board |
Vice-Chairman |
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Director |
Director/Board Member |
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Director - Representative of Kuwait Awqaf Public Foundation |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Depositor Director |
Director/Board Member |
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Director - Representative of ICB Asset Management Co. Ltd. |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Managing Director, Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director - Representative of Islamic Development Bank |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Depositor Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Executives |
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Deputy Managing Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Managing Director, Director |
Managing Director |
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Deputy Managing Director |
Managing Director |
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Executive Vice President |
Senior Management (General) |
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Director - Representative of ICB Asset Management Co. Ltd. |
Finance Executive |
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Chief Financial Officer |
Finance Executive |
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Chairman of the Board - Representative of Ibn Sina Pharmaceuticals
Ltd. |
Medical Specialist |
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Director - Representative of Islamic Development Bank |
Key Banking Contact |
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Significant Developments
Credit Rating Information
and Services Limited Rates Islami Bank Bangladesh Ltd With AA+ May 30, 2013
Credit Rating
Information and Services Limited (CRISL) has rated Islami Bank Bangladesh Ltd
as AA+ in the long term and ST-1 in the short term in consideration of financials
of the Company up to December 31, 2012 (audited) and other relevant
quantitative as well as qualitative information up to the date of rating
declaration.
Islami Bank
Bangladesh Ltd Proposes Bonus Share May 14, 2013
Islami Bank
Bangladesh Ltd announced that it has proposed bonus share at 17% for the year
2012.
Islami Bank
Bangladesh Ltd Recommends Cash Dividend Mar 31, 2013
Islami Bank
Bangladesh Ltd announced that the Board of Directors has recommended cash
dividend at 8% (i.e. BDT0.80 per share of BDT10.00 each) and stock dividend at
17% for the year ended on December 31, 2012. Record date on April 11, 2013.
Annual Income
Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
ACNABIN |
ACNABIN |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
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Interest & Dividends on Investment Securities |
23.8 |
10.6 |
5.4 |
1.3 |
0.8 |
|
Other Interest Income |
509.7 |
421.9 |
350.4 |
308.3 |
284.2 |
|
Interest Income, Bank |
533.5 |
432.5 |
355.8 |
309.6 |
285.0 |
|
Interest on Deposit |
316.0 |
248.5 |
207.9 |
189.4 |
177.3 |
|
Total Interest Expense |
316.0 |
248.5 |
207.9 |
189.4 |
177.3 |
|
Net Interest Income |
217.5 |
183.9 |
147.9 |
120.1 |
107.6 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
43.3 |
36.1 |
16.0 |
18.3 |
16.5 |
|
Net Interest Income after Loan Loss Provision |
174.2 |
147.8 |
131.9 |
101.8 |
91.1 |
|
|
|
|
|
|
|
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Commissions & Fees from Securities
Activities |
64.3 |
71.5 |
57.4 |
49.8 |
48.7 |
|
Fees for Other Customer Services |
0.4 |
0.3 |
0.4 |
0.2 |
0.2 |
|
Investment Securities Gains |
5.9 |
4.5 |
7.0 |
1.7 |
6.0 |
|
Other Unusual Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Revenue |
11.9 |
10.5 |
9.2 |
3.8 |
3.6 |
|
Non-Interest Income, Bank |
83.9 |
87.9 |
77.8 |
58.4 |
61.4 |
|
Labor & Related Expenses |
-73.0 |
-63.2 |
-61.8 |
-45.6 |
-41.6 |
|
Depreciation Expense |
-6.2 |
-5.5 |
-5.0 |
-4.0 |
-3.3 |
|
Other Unusual Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Expense |
-29.4 |
-29.8 |
-20.9 |
-16.2 |
-15.2 |
|
Non-Interest Expense, Bank |
-108.6 |
-98.5 |
-87.7 |
-65.9 |
-60.0 |
|
Income Before Tax |
149.5 |
137.2 |
122.0 |
94.4 |
92.6 |
|
|
|
|
|
|
|
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Total Income Tax |
80.9 |
74.7 |
57.5 |
45.1 |
53.6 |
|
Income After Tax |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Net Income Before Extraord Items |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
Net Income |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
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Income Available to Common Excl Extraord Items |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1,251.0 |
1,251.0 |
1,463.6 |
1,084.2 |
903.5 |
|
Basic EPS Excl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
Basic/Primary EPS Incl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
Diluted Net Income |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
Diluted Weighted Average Shares |
1,251.0 |
1,251.0 |
1,463.6 |
1,084.2 |
903.5 |
|
Diluted EPS Excl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
Diluted EPS Incl Extraord Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
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 |
6.2 |
5.5 |
5.0 |
4.0 |
3.3 |
|
Total Special Items |
-1.4 |
-1.1 |
-3.7 |
-3.0 |
-2.9 |
|
Normalized Income Before Tax |
148.1 |
136.1 |
118.2 |
91.5 |
89.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.8 |
-0.6 |
-1.8 |
-1.4 |
-1.7 |
|
Inc Tax Ex Impact of Sp Items |
80.1 |
74.2 |
55.8 |
43.7 |
51.9 |
|
Normalized Income After Tax |
68.0 |
62.0 |
62.5 |
47.8 |
37.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
68.0 |
62.0 |
62.5 |
47.8 |
37.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.05 |
0.04 |
0.04 |
0.04 |
|
Diluted Normalized EPS |
0.05 |
0.05 |
0.04 |
0.04 |
0.04 |
|
Rental Expenses |
2.7 |
2.5 |
2.1 |
1.5 |
- |
|
Advertising Expense, Supplemental |
1.4 |
1.0 |
0.9 |
0.4 |
0.6 |
|
Research & Development Exp, Supplemental |
1.8 |
6.3 |
1.9 |
- |
- |
|
Bank Total Revenue |
301.3 |
271.8 |
225.7 |
178.6 |
169.1 |
|
Current Tax - Domestic |
80.3 |
74.3 |
57.6 |
44.7 |
53.2 |
|
Current Tax - Total |
80.3 |
74.3 |
57.6 |
44.7 |
53.2 |
|
Deferred Tax - Domestic |
0.6 |
0.4 |
0.0 |
0.4 |
0.4 |
|
Deferred Tax - Total |
0.6 |
0.4 |
0.0 |
0.4 |
0.4 |
|
Income Tax - Total |
80.9 |
74.7 |
57.5 |
45.1 |
53.6 |
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
ACNABIN |
ACNABIN |
ACNABIN |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
1,131.3 |
896.2 |
846.2 |
812.9 |
645.6 |
|
Interest-earning Deposits |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Investment Securities |
4,592.6 |
3,736.9 |
3,713.7 |
3,098.7 |
2,612.9 |
|
Other Earning Assets, Total |
4,592.8 |
3,737.0 |
3,713.9 |
3,098.8 |
2,613.0 |
|
Buildings |
74.5 |
46.8 |
51.3 |
50.3 |
33.1 |
|
Land/Improvements |
92.6 |
29.9 |
34.8 |
35.3 |
22.8 |
|
Machinery/Equipment |
43.0 |
32.4 |
30.6 |
25.8 |
22.2 |
|
Construction in
Progress |
0.9 |
1.1 |
1.0 |
0.6 |
0.5 |
|
Other
Property/Plant/Equipment |
0.2 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Property/Plant/Equipment - Gross |
211.2 |
110.3 |
117.9 |
112.0 |
78.7 |
|
Accumulated Depreciation |
-28.7 |
-23.4 |
-22.0 |
-18.0 |
-14.7 |
|
Property/Plant/Equipment - Net |
182.5 |
86.9 |
95.9 |
94.0 |
64.0 |
|
Other Assets |
37.4 |
38.2 |
37.7 |
12.5 |
27.9 |
|
Other Assets, Total |
37.4 |
38.2 |
37.7 |
12.5 |
27.9 |
|
Total Assets |
5,944.0 |
4,758.3 |
4,693.7 |
4,018.2 |
3,350.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
51.9 |
35.0 |
42.3 |
36.8 |
33.5 |
|
Other Deposits |
585.4 |
472.4 |
503.7 |
343.6 |
300.8 |
|
Total Deposits |
5,094.0 |
4,142.6 |
4,100.1 |
3,490.4 |
2,899.5 |
|
Long Term Debt |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
Total Long Term Debt |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
Total Debt |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
2.9 |
2.4 |
2.3 |
2.4 |
2.0 |
|
Deferred Income Tax |
2.9 |
2.4 |
2.3 |
2.4 |
2.0 |
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Other Liabilities |
269.8 |
204.3 |
172.7 |
155.1 |
167.8 |
|
Other Liabilities, Total |
269.8 |
204.3 |
172.7 |
155.1 |
167.8 |
|
Total Liabilities |
5,455.5 |
4,420.9 |
4,360.0 |
3,727.9 |
3,146.4 |
|
|
|
|
|
|
|
|
Common Stock |
154.1 |
122.3 |
105.2 |
89.2 |
69.0 |
|
Common Stock |
154.1 |
122.3 |
105.2 |
89.2 |
69.0 |
|
Additional Paid-In Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings (Accumulated Deficit) |
192.3 |
161.4 |
158.4 |
123.2 |
95.1 |
|
Unrealized Gain (Loss) |
142.0 |
53.8 |
70.0 |
77.8 |
39.9 |
|
Total Equity |
488.4 |
337.5 |
333.7 |
290.3 |
204.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
5,944.0 |
4,758.3 |
4,693.7 |
4,018.2 |
3,350.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1,251.0 |
1,463.6 |
1,463.6 |
903.5 |
903.5 |
|
Total Common Shares Outstanding |
1,251.0 |
1,463.6 |
1,463.6 |
903.5 |
903.5 |
|
Number of Common Shareholders |
60,302 |
60,550 |
58,923 |
52,164 |
33,686 |
|
Tier 1 Capital % |
9.08% |
9.09% |
- |
- |
- |
|
Total Capital % |
13.53% |
13.13% |
11.06% |
- |
- |
|
Total Long Term Debt, Supplemental |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
ACNABIN |
ACNABIN |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash Receipts |
514.2 |
432.5 |
355.6 |
309.6 |
285.0 |
|
Cash Payments |
-3.9 |
-3.2 |
-2.7 |
-2.2 |
-1.9 |
|
Cash Taxes Paid |
-59.7 |
-54.8 |
-46.3 |
-52.1 |
-34.8 |
|
Other Assets |
-818.1 |
-601.5 |
-720.6 |
-487.6 |
-522.9 |
|
Other Liabilities |
931.1 |
660.3 |
668.6 |
583.0 |
477.7 |
|
Other Operating Cash Flow |
-312.5 |
-231.4 |
-203.8 |
-183.6 |
-152.1 |
|
Changes in Working Capital |
-199.4 |
-172.6 |
-255.8 |
-88.2 |
-197.3 |
|
Cash from Operating Activities |
251.2 |
201.9 |
50.8 |
167.1 |
51.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-11.7 |
-9.9 |
-8.2 |
-4.7 |
-9.2 |
|
Capital Expenditures |
-11.7 |
-9.9 |
-8.2 |
-4.7 |
-9.2 |
|
Sale/Maturity of Investment |
14.3 |
0.0 |
- |
- |
- |
|
Purchase of Investments |
-137.5 |
-39.2 |
-18.6 |
-43.5 |
189.5 |
|
Other Investing Cash Flow Items, Total |
-123.2 |
-39.2 |
-18.6 |
-43.5 |
189.5 |
|
Cash from Investing Activities |
-134.9 |
-49.1 |
-26.8 |
-48.1 |
180.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-8.6 |
0.0 |
-9.6 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
-8.6 |
0.0 |
-9.6 |
0.0 |
0.0 |
|
Sale/Issuance of
Common |
0.0 |
0.0 |
0.0 |
- |
- |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Long Term Debt Issued |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issuance (Retirement) of Debt, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-8.6 |
0.0 |
-9.6 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
- |
- |
- |
|
Net Change in Cash |
107.7 |
152.8 |
14.4 |
118.9 |
231.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
702.2 |
623.5 |
648.9 |
535.3 |
538.8 |
|
Net Cash - Ending Balance |
809.9 |
776.4 |
663.3 |
654.3 |
658.5 |
|
Depreciation |
- |
- |
- |
- |
3.3 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate
(Period Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
ACNABIN |
ACNABIN |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Income From General Investment |
509.7 |
421.9 |
350.4 |
308.3 |
284.2 |
|
Investment Income |
23.8 |
10.6 |
5.4 |
1.3 |
0.8 |
|
Total Revenue |
533.5 |
432.5 |
355.8 |
309.6 |
285.0 |
|
|
|
|
|
|
|
|
Profit Paid on Deposits |
316.0 |
248.5 |
207.9 |
189.4 |
177.3 |
|
Loan Loss Provisions |
43.3 |
36.1 |
16.0 |
18.3 |
16.5 |
|
Total Operating Expense |
359.3 |
284.6 |
223.9 |
207.7 |
193.8 |
|
|
|
|
|
|
|
|
Income From Investment In Shares/Securit |
5.9 |
4.5 |
7.0 |
1.7 |
6.0 |
|
Commission, Exchange & Brokerage |
64.3 |
71.5 |
57.4 |
49.8 |
48.7 |
|
Rent On Locker |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Telephone/Trunk Call Charge Recoevered |
0.1 |
0.2 |
0.4 |
0.6 |
0.5 |
|
P & T Charge Recovered |
0.7 |
0.8 |
0.8 |
0.8 |
0.8 |
|
Legal Expenses Recovered |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
E & TA Fees Recovered |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income from ATM & Swift |
2.4 |
1.8 |
1.5 |
1.1 |
1.0 |
|
Account maintenance charges realised |
6.1 |
5.9 |
5.4 |
0.1 |
0.1 |
|
Service Charges Recovered |
0.3 |
0.3 |
0.4 |
0.2 |
0.1 |
|
Service Charges recovered: OBU |
0.0 |
0.0 |
0.0 |
- |
- |
|
Rent On Premises Realised |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sale Proceeds Of Tender Schedule |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Profit On Sale Of Bank's Car |
0.1 |
0.0 |
0.0 |
0.0 |
0.1 |
|
W/O Investment Recovery |
1.3 |
1.0 |
3.7 |
2.9 |
2.8 |
|
Recruitment Fees Recovered |
0.3 |
0.0 |
0.2 |
0.3 |
0.1 |
|
MICR Cheque Charge Realised |
0.1 |
0.0 |
0.0 |
- |
- |
|
Others |
2.1 |
1.7 |
0.7 |
0.8 |
1.0 |
|
Salary & Allowances |
-72.8 |
-62.9 |
-61.6 |
-45.6 |
-41.3 |
|
Rent, taxes, insurances, electricity etc |
-8.0 |
-6.8 |
-6.0 |
-1.5 |
-1.3 |
|
Legal Expenses |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
|
Postage, stamps and telecommunication et |
-1.4 |
-1.3 |
-1.2 |
-0.5 |
-0.5 |
|
Stationery, printing and advertisement e |
-3.3 |
-2.7 |
-2.1 |
-1.0 |
-0.7 |
|
Chief Executive's Salary & Fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Directors' Fees & Expenses |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Shariah Council's Meeting Fees & Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Auditors' Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation and repair to banks asset |
-6.2 |
-5.5 |
-5.0 |
-4.0 |
-3.3 |
|
Zakat Expenses |
-4.0 |
-3.6 |
-3.2 |
-2.5 |
-1.9 |
|
Bank Charges |
-0.4 |
-0.3 |
-0.3 |
-0.2 |
-0.1 |
|
Staff Welfare |
-0.2 |
-0.1 |
-0.1 |
0.0 |
-0.3 |
|
Recruitment Expenses |
-0.1 |
-0.1 |
-0.1 |
- |
- |
|
Loss on sale of Bank's Fixed Asset |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Expenses |
-12.0 |
-14.7 |
-7.6 |
-5.3 |
-5.7 |
|
Insurance |
- |
- |
- |
-2.1 |
-1.8 |
|
Electricity & Lighting |
- |
- |
- |
-1.3 |
-1.1 |
|
Swift Charges |
- |
- |
- |
-0.3 |
-0.2 |
|
Telephone |
- |
- |
- |
-0.4 |
-0.5 |
|
Fax & Internet |
- |
- |
- |
-0.1 |
-0.1 |
|
Stamps |
- |
- |
- |
0.0 |
0.0 |
|
Paper & Table Stationery |
- |
- |
- |
-0.2 |
-0.2 |
|
Advertisement & Publicity |
- |
- |
- |
-0.4 |
-0.6 |
|
Total Non-Interest Revenue |
83.9 |
87.9 |
77.8 |
58.4 |
61.4 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-108.6 |
-98.5 |
-87.7 |
-65.9 |
-60.0 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
149.5 |
137.2 |
122.0 |
94.4 |
92.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
80.9 |
74.7 |
57.5 |
45.1 |
53.6 |
|
Net Income After Taxes |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Net Income Before Extra. Items |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
Net Income |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,251.0 |
1,251.0 |
1,463.6 |
1,084.2 |
903.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
Basic EPS Including ExtraOrdinary Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
Diluted Net Income |
68.6 |
62.5 |
64.4 |
49.3 |
39.0 |
|
Diluted Weighted Average Shares |
1,251.0 |
1,251.0 |
1,463.6 |
1,084.2 |
903.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
Diluted EPS Including ExtraOrd Items |
0.05 |
0.05 |
0.04 |
0.05 |
0.04 |
|
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 |
148.1 |
136.1 |
118.2 |
91.5 |
89.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
80.1 |
74.2 |
55.8 |
43.7 |
51.9 |
|
Normalized Income After Taxes |
68.0 |
62.0 |
62.5 |
47.8 |
37.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
68.0 |
62.0 |
62.5 |
47.8 |
37.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.05 |
0.04 |
0.04 |
0.04 |
|
Diluted Normalized EPS |
0.05 |
0.05 |
0.04 |
0.04 |
0.04 |
|
Depreciation, Supplemental |
6.2 |
5.5 |
5.0 |
4.0 |
3.3 |
|
Research & Development Exp, Supplemental |
1.8 |
6.3 |
1.9 |
- |
- |
|
Advertising Expense, Supplemental |
1.4 |
1.0 |
0.9 |
0.4 |
0.6 |
|
Rental Expense, Supplemental |
2.7 |
2.5 |
2.1 |
1.5 |
- |
|
Current Tax |
80.3 |
74.3 |
57.6 |
44.7 |
53.2 |
|
Current Tax - Total |
80.3 |
74.3 |
57.6 |
44.7 |
53.2 |
|
Deferred Tax |
0.6 |
0.4 |
0.0 |
0.4 |
0.4 |
|
Deferred Tax - Total |
0.6 |
0.4 |
0.0 |
0.4 |
0.4 |
|
Income Tax - Total |
80.9 |
74.7 |
57.5 |
45.1 |
53.6 |
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
ACNABIN |
ACNABIN |
ACNABIN |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash in hand |
77.7 |
56.9 |
53.7 |
35.8 |
45.1 |
|
Bank Balance |
436.8 |
439.6 |
500.4 |
505.4 |
409.6 |
|
Financial Institutions |
214.7 |
160.6 |
53.0 |
84.6 |
19.1 |
|
Financial Institutions-Outside Banglades |
87.3 |
45.4 |
48.0 |
26.3 |
62.5 |
|
Investments in Shares & |
289.5 |
170.2 |
165.6 |
160.4 |
109.0 |
|
Investments in Shares &-Other |
25.3 |
23.5 |
25.6 |
0.4 |
0.4 |
|
General Investment |
4,193.1 |
3,517.8 |
3,452.1 |
2,929.3 |
2,464.5 |
|
Bills Purchased & Discontinued |
399.5 |
219.1 |
261.7 |
169.4 |
148.4 |
|
Land |
92.6 |
29.9 |
34.8 |
35.3 |
22.8 |
|
Building |
74.5 |
46.8 |
51.3 |
50.3 |
33.1 |
|
Construction/Work-in-process |
0.9 |
1.1 |
1.0 |
0.6 |
0.5 |
|
Furniture & Fixtures |
8.1 |
6.4 |
6.2 |
5.5 |
4.8 |
|
Mechanical appliances |
28.8 |
20.5 |
19.0 |
15.4 |
12.8 |
|
Motor Vehicles |
6.1 |
5.5 |
5.3 |
5.0 |
4.6 |
|
Books |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Islami Bank Securities Limited |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Depreciation |
-28.7 |
-23.4 |
-22.0 |
-18.0 |
-14.7 |
|
Stock Of Stationery In Hand |
1.1 |
1.0 |
1.1 |
0.8 |
0.8 |
|
Stamps In Hand |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Advances Rent Paid |
5.8 |
3.9 |
2.8 |
2.1 |
1.8 |
|
Security Deposits |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Suspenses Accounts |
19.0 |
12.9 |
10.5 |
7.5 |
4.5 |
|
Clearing adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Accrued Income |
8.0 |
4.5 |
4.6 |
2.0 |
5.9 |
|
Deferred revenue expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
IB General Accounts |
0.0 |
14.3 |
14.7 |
0.0 |
0.5 |
|
F.C. clearing adjustment |
2.0 |
1.1 |
3.2 |
0.0 |
14.3 |
|
Receivables from Seylon Bank PLC |
0.4 |
0.0 |
- |
- |
- |
|
Other Assets |
1.0 |
0.3 |
0.8 |
0.0 |
- |
|
Total Assets |
5,944.0 |
4,758.3 |
4,693.7 |
4,018.2 |
3,350.4 |
|
|
|
|
|
|
|
|
Mudaraba Savings Deposits |
1,859.8 |
1,613.7 |
1,577.1 |
1,372.8 |
1,124.6 |
|
Mudaraba Term Deposits |
1,198.0 |
796.4 |
725.9 |
653.6 |
532.7 |
|
Other Mudaraba Deposits |
1,450.8 |
1,260.1 |
1,293.5 |
1,120.5 |
941.4 |
|
deposit accounts |
585.4 |
472.4 |
503.7 |
343.6 |
300.8 |
|
Bills Payable |
51.9 |
35.0 |
42.3 |
36.8 |
33.5 |
|
Other liabilities |
269.8 |
204.3 |
172.7 |
155.1 |
167.8 |
|
Mudaraba Perpetual Bond |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
Total Long Term Debt |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Deferred Tax Liabilities |
2.9 |
2.4 |
2.3 |
2.4 |
2.0 |
|
Total Liabilities |
5,455.5 |
4,420.9 |
4,360.0 |
3,727.9 |
3,146.4 |
|
|
|
|
|
|
|
|
Paid - up Capital |
154.1 |
122.3 |
105.2 |
89.2 |
69.0 |
|
Share Premium |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Statutory Reserve |
153.0 |
122.3 |
112.6 |
90.2 |
71.7 |
|
General & Other Reserves |
2.0 |
2.3 |
8.7 |
6.3 |
2.8 |
|
Assets Revaluation Reserves |
141.6 |
52.6 |
61.2 |
62.3 |
33.0 |
|
Revaluation Reserves Of Securities |
0.4 |
1.1 |
8.8 |
15.6 |
6.9 |
|
Retained Earnings |
37.4 |
36.9 |
37.1 |
26.8 |
20.7 |
|
Total Equity |
488.4 |
337.5 |
333.7 |
290.3 |
204.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
5,944.0 |
4,758.3 |
4,693.7 |
4,018.2 |
3,350.4 |
|
|
|
|
|
|
|
|
S/O-Fully Paid Ord. Shrs |
1,251.0 |
1,463.6 |
1,463.6 |
903.5 |
903.5 |
|
Total Common Shares Outstanding |
1,251.0 |
1,463.6 |
1,463.6 |
903.5 |
903.5 |
|
Tier 1 Capital % |
9.08% |
9.09% |
- |
- |
- |
|
Total Capital % |
13.53% |
13.13% |
11.06% |
- |
- |
|
Number of Common Shareholders |
60,302 |
60,550 |
58,923 |
52,164 |
33,686 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt - Remaining Maturities |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
|
Total Long Term Debt, Supplemental |
36.9 |
36.7 |
42.6 |
43.3 |
43.5 |
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate (Period
Average) |
81.86564 |
74.041708 |
69.60265 |
69.026932 |
68.582616 |
|
Auditor |
ACNABIN |
ACNABIN |
ACNABIN |
Howladar Yunus
& Co. |
Howladar Yunus
& Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash Receipts |
514.2 |
432.5 |
355.6 |
309.6 |
285.0 |
|
Cash Payments |
-3.9 |
-3.2 |
-2.7 |
-2.2 |
-1.9 |
|
Profit paid on mudaraba deposit |
-296.7 |
-229.0 |
-198.6 |
-184.3 |
-155.4 |
|
Income/ Dividend receipt from Investment |
5.9 |
4.5 |
4.6 |
3.9 |
3.0 |
|
Fees & Commission receipt in Cash |
64.3 |
71.5 |
57.4 |
49.8 |
48.7 |
|
Recovery from written off investments |
1.3 |
1.0 |
3.7 |
2.9 |
2.8 |
|
Payments to employees |
-72.9 |
-63.0 |
-61.7 |
-45.7 |
-41.4 |
|
Cash Taxes Paid |
-59.7 |
-54.8 |
-46.3 |
-52.1 |
-34.8 |
|
Receipts from other Operating Activities |
12.4 |
10.8 |
9.5 |
4.1 |
4.0 |
|
Payments from other Operating Activities |
-26.7 |
-27.3 |
-18.7 |
-14.3 |
-13.7 |
|
Increase/decrease of investments to cust |
-819.4 |
-595.1 |
-676.8 |
-500.7 |
-512.3 |
|
Increase/decrease of other assets |
1.3 |
-6.3 |
-43.8 |
13.1 |
-10.6 |
|
Increase/decrease of deposits from other |
-5.3 |
6.8 |
0.8 |
1.0 |
-0.6 |
|
Increase/decrease of other liabilities a |
933.0 |
647.9 |
683.7 |
595.4 |
474.8 |
|
Increase/decrease of other liabilities |
3.5 |
5.6 |
-15.9 |
-13.4 |
3.5 |
|
Cash from Operating Activities |
251.2 |
201.9 |
50.8 |
167.1 |
51.0 |
|
|
|
|
|
|
|
|
Proceeds from sale of securities |
14.3 |
0.0 |
- |
- |
- |
|
Payment for purchase of securities/BGIIB |
-137.5 |
-39.2 |
-14.4 |
-43.5 |
189.5 |
|
Payment for Purchase Of Securities/Membe |
0.0 |
0.0 |
-4.2 |
0.0 |
- |
|
Purchase/Sale Of Property,Plant & Equipm |
-11.7 |
-9.9 |
-8.2 |
-4.7 |
-9.2 |
|
Cash from Investing Activities |
-134.9 |
-49.1 |
-26.8 |
-48.1 |
180.4 |
|
|
|
|
|
|
|
|
Receipts from issue of debt instruments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Receipts from issuing Ordinary Share/ Ri |
0.0 |
0.0 |
0.0 |
- |
- |
|
Dividend paid in Cash |
-8.6 |
0.0 |
-9.6 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-8.6 |
0.0 |
-9.6 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
- |
- |
- |
|
Net Change in Cash |
107.7 |
152.8 |
14.4 |
118.9 |
231.3 |
|
|
|
|
|
|
|
|
Depreciation |
- |
- |
- |
- |
3.3 |
|
Cash,Begining Of Year |
702.2 |
623.5 |
648.9 |
535.3 |
538.8 |
|
Cash,End Of Year |
809.9 |
776.4 |
663.3 |
654.3 |
658.5 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
UK Pound |
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
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
SCs 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.