MIRA INFORM REPORT
|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
Pubali Bank ltd |
|
|
|
|
Registered Office : |
26, Dilkusha
Commercial Area, G . P . O. Box. Number 853, Dhaka, 1000 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1959 |
|
|
|
|
Legal Form : |
Public Parent
Company |
|
|
|
|
Line of Business : |
Provision of
commercial banking services which include deposit schemes, loans and advances,
remittances and miscellaneous services |
|
|
|
|
No. of Employees |
6,689 |
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 |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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 |
|
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 |
Company name & address
Pubali Bank Limited
26, Dilkusha Commercial
Area
G . P . O. Box.
Number 853
Dhaka, 1000
Bangladesh
Tel: 880-2-9551614
Fax: 880-2-9564009
web: www.pubalibangla.com
synthesis
Employees: 6,689
Company Type: Public
Parent
Corporate Family: 2 Companies
Traded: Dhaka Stock Exchange: PUBALIBANK
Incorporation
Date: 1959
Auditor: Hoda
Vasi Chowdhury & Co
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Bangladesh Taka
Annual Sales: 139.8 1
Net Income: 19.6
Total Assets: 2,376.7 2
Market Value: 407.8 (13-Feb-2014)
Business Description
Pubali Bank Limited
is a Bangladesh-based commercial bank. It provides banking services to the
customers through its branch network across the Bangladesh. The Bank’s
services include deposit schemes, loans and advances, remittances and
miscellaneous services. The deposit scheme provides fixed deposits, special
notice deposits, deposit pension scheme, child education care and maturity
deposits and monthly profit based small deposits. The Company’s loans and
advances consists of public sector, private sector and co-operative sector
loans. Its industrial loans include loans given for agriculture, textile, steel
and engineering, cement, construction , energy and power, transport and
communication loans among others. The Bank’s subsidiaries include Pubali Bank
Securities Limited and Pubali Exchange Company (UK) Ltd. For the six months
ended 30 June 2013, Pubali Bank Limited interest income increased 3% to
BDT8.4B. Net interest income after loan loss provision decreased 36% to
BDT2.01B. Net income decreased 9% to BDT1.13B. Net interest income after loan
loss provision reflects decrease in interest earning assets and increase in
interest bearing liabilities. Net income also reflects Interest Paid on
Deposts, Borrowings increase of 33% to BDT5.61B (expense).
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 |
|
Helal Ahmed Chowdhury |
CEO & Managing Director |
|
Md Sayeed Ahmed |
CFO & General Manager-Central Accounts Division |
|
Mohammad Ali |
CTO & General Manager-IT, R&D & GSDD |
|
Syed Aziz Ahmed |
General Manager-HR Division |
|
Hafiz Ahmed Mazumdar |
Chairman |
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
26, Dilkusha
Commercial Area
G . P . O. Box.
Number 853
Dhaka, 1000
Bangladesh
Tel: 880-2-9551614
Fax: 880-2-9564009
Web; www.pubalibangla.com
Quote Symbol -
Exchange
PUBALIBANK - Dhaka Stock Exchange
Sales BDT(mil): 11,444.7
Assets BDT(mil): 192,988.4
Employees: 6,689
Fiscal Year End: 31-Dec-2012
Industry: Commercial
Banks
Incorporation
Date: 1959
Company Type: Public Parent
Quoted Status: Quoted
CEO &
Managing Director: Helal Ahmed
Chowdhury
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
Pubali Bank
Limited is a Bangladesh-based commercial bank. It provides banking services to
the customers through its branch network across the Bangladesh. The Bank’s
services include deposit schemes, loans and advances, remittances and
miscellaneous services. The deposit scheme provides fixed deposits, special
notice deposits, deposit pension scheme, child education care and maturity deposits
and monthly profit based small deposits. The Company’s loans and advances
consists of public sector, private sector and co-operative sector loans. Its
industrial loans include loans given for agriculture, textile, steel and
engineering, cement, construction , energy and power, transport and
communication loans among others. The Bank’s subsidiaries include Pubali Bank
Securities Limited and Pubali Exchange Company (UK) Ltd. For the six months
ended 30 June 2013, Pubali Bank Limited interest income increased 3% to
BDT8.4B. Net interest income after loan loss provision decreased 36% to
BDT2.01B. Net income decreased 9% to BDT1.13B. Net interest income after loan
loss provision reflects decrease in interest earning assets and increase in
interest bearing liabilities. Net income also reflects Interest Paid on
Deposts, Borrowings increase of 33% to BDT5.61B (expense).
More Business Descriptions
Provision of
commercial banking services
Commercial
Banking Services
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Family |
Corporate
Structure News: |
|
Pubali
Bank Limited |
|
|
Pubali Bank Limited |
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Dhaka |
Bangladesh |
Banking |
139.8 |
6,689 |
|
|
|
Subsidiary |
London |
United Kingdom |
Miscellaneous Professional
Services |
3 |
|
Executive
report
|
Board of Directors |
|
|
|
|
|||
|
Chairman |
Chairman |
|
|||
|
Vice Chairman |
Vice-Chairman |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Independent Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|
Executives |
|
|
|
|
|||
|
CEO & Managing Director |
Chief Executive Officer |
|
|||
|
CFO & General Manager-Central Accounts Division |
Division Head Executive |
|
|||
|
General Manager-HR Division |
Division Head Executive |
|
|||
|
General Manager-Law Division |
Division Head Executive |
|
|||
|
CTO & General Manager-IT, R&D & GSDD |
Division Head Executive |
|
|||
|
Secretary & General Manager-Board Division |
Division Head Executive |
|
|||
|
Managing Director |
Managing Director |
|
|||
|
Deputy Managing Director |
Managing Director |
Significant Developments
National Credit
Ratings Limited Announces Rating AA To Pubali Bank Ltd Jun 12, 2013
National Credit Ratings
Limited (NCR) announced that it has announced the rating of the Pubali Bank Ltd
as AA in the long term and ST-1 in the short term based on audited financial
statements of the Company for the year ended on December 31, 2012.
Pubali Bank Ltd
Recommends Cash Dividend Mar 25, 2013
Pubali Bank Ltd
announced that the Board of Directors has recommended cash dividend at 10%
(i.e. BDT1.00 per share of BDT10.00 each) for the year ended on December 31,
2012. Record date on April 4, 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 |
Reclassified
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 |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Aziz Halim Khair
Choudhury |
Aziz Halim Khair
Choudhury |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
201.8 |
163.5 |
129.4 |
116.7 |
99.2 |
|
Interest Income, Bank |
201.8 |
163.5 |
129.4 |
116.7 |
99.2 |
|
Interest on Deposit |
113.2 |
78.8 |
54.5 |
54.5 |
41.0 |
|
Interest on Other Borrowings |
- |
- |
- |
0.1 |
0.1 |
|
Total Interest Expense |
113.2 |
78.8 |
54.5 |
54.6 |
41.1 |
|
Net Interest Income |
88.6 |
84.7 |
74.9 |
62.2 |
58.1 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
22.2 |
12.8 |
7.3 |
2.5 |
4.4 |
|
Net Interest Income after Loan Loss Provision |
66.4 |
71.9 |
67.6 |
59.7 |
53.6 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
17.2 |
21.4 |
19.9 |
17.2 |
17.3 |
|
Investment Securities Gains |
25.9 |
17.6 |
30.7 |
16.1 |
6.6 |
|
Foreign Currency Gains |
- |
- |
- |
- |
0.0 |
|
Other Revenue |
8.1 |
4.7 |
4.3 |
4.5 |
8.2 |
|
Non-Interest Income, Bank |
51.2 |
43.7 |
55.0 |
37.8 |
32.2 |
|
Labor & Related Expenses |
-33.3 |
-31.9 |
-29.7 |
-25.7 |
-24.4 |
|
Depreciation Expense |
-3.0 |
-2.6 |
-2.2 |
-1.7 |
-1.8 |
|
Other Expense |
-30.0 |
-19.8 |
-19.2 |
-16.9 |
-13.7 |
|
Non-Interest Expense, Bank |
-66.3 |
-54.3 |
-51.1 |
-44.3 |
-40.0 |
|
Income Before Tax |
51.3 |
61.3 |
71.5 |
53.2 |
45.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
31.7 |
30.7 |
25.1 |
22.8 |
23.7 |
|
Income After Tax |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extraord Items |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
Net Income |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
837.8 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Basic EPS Excl Extraord Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Basic/Primary EPS Incl Extraord Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Diluted Net Income |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
Diluted Weighted Average Shares |
838.5 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Diluted EPS Excl Extraord Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Diluted EPS Incl Extraord Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Dividends per Share - Common Stock Primary Issue |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
- |
- |
- |
0.0 |
|
Depreciation, Supplemental |
3.0 |
2.6 |
2.2 |
1.3 |
1.1 |
|
Normalized Income Before Tax |
51.3 |
61.3 |
71.5 |
53.2 |
45.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
31.7 |
30.7 |
25.1 |
22.8 |
23.7 |
|
Normalized Income After Tax |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Diluted Normalized EPS |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Rental Expenses |
3.8 |
1.8 |
1.7 |
1.4 |
1.1 |
|
Advertising Expense, Supplemental |
1.2 |
1.2 |
1.2 |
1.0 |
0.7 |
|
Bank Total Revenue |
139.8 |
128.4 |
129.9 |
99.9 |
90.2 |
|
Current Tax - Domestic |
31.1 |
30.1 |
24.4 |
22.8 |
23.7 |
|
Current Tax - Total |
31.1 |
30.1 |
24.4 |
22.8 |
23.7 |
|
Deferred Tax - Domestic |
0.6 |
0.6 |
0.7 |
0.0 |
0.1 |
|
Deferred Tax - Total |
0.6 |
0.6 |
0.7 |
0.0 |
0.1 |
|
Income Tax - Total |
31.7 |
30.7 |
25.1 |
22.8 |
23.7 |
|
Defined Contribution Expense - Domestic |
7.0 |
7.1 |
7.5 |
7.7 |
6.1 |
|
Total Pension Expense |
7.0 |
7.1 |
7.5 |
7.7 |
6.1 |
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 |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Aziz Halim Khair
Choudhury |
Aziz Halim Khair
Choudhury |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
232.6 |
164.4 |
157.8 |
153.6 |
142.8 |
|
Other Short Term Investments |
449.9 |
301.8 |
236.1 |
194.0 |
137.5 |
|
Other Earning Assets, Total |
449.9 |
301.8 |
236.1 |
194.0 |
137.5 |
|
Total Gross Loans |
1,483.8 |
1,278.9 |
1,264.4 |
1,093.9 |
916.7 |
|
Loan Loss Allowances |
- |
- |
- |
-22.5 |
-20.0 |
|
Net Loans |
1,483.8 |
1,278.9 |
1,264.4 |
1,071.4 |
896.7 |
|
Buildings |
10.3 |
9.7 |
11.3 |
6.2 |
6.1 |
|
Land/Improvements |
28.0 |
27.7 |
32.1 |
12.2 |
12.2 |
|
Machinery/Equipment |
17.5 |
13.9 |
13.6 |
10.8 |
9.1 |
|
Property/Plant/Equipment - Gross |
55.7 |
51.3 |
57.0 |
29.2 |
27.4 |
|
Accumulated Depreciation |
-12.5 |
-10.0 |
-9.7 |
-8.4 |
-7.3 |
|
Property/Plant/Equipment - Net |
43.2 |
41.3 |
47.3 |
20.8 |
20.1 |
|
Interest Receivable |
11.6 |
8.9 |
7.6 |
8.5 |
10.5 |
|
Other Assets |
155.7 |
126.9 |
109.7 |
104.9 |
96.8 |
|
Other Assets, Total |
167.3 |
135.9 |
117.3 |
113.4 |
107.3 |
|
Total Assets |
2,376.7 |
1,922.2 |
1,822.8 |
1,553.3 |
1,304.4 |
|
|
|
|
|
|
|
|
Interest Bearing Deposits |
1,569.4 |
1,254.5 |
1,082.2 |
1,010.5 |
826.0 |
|
Other Deposits |
247.0 |
222.7 |
285.0 |
229.4 |
205.3 |
|
Total Deposits |
1,816.5 |
1,477.2 |
1,367.3 |
1,239.8 |
1,031.3 |
|
Other Short Term Borrowings |
41.4 |
5.6 |
46.7 |
6.2 |
5.7 |
|
Total Short Term Borrowings |
77.4 |
41.4 |
82.0 |
43.6 |
34.0 |
|
Dividends Payable |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Taxes Payable |
140.8 |
109.1 |
95.1 |
74.1 |
77.0 |
|
Other Current liabilities, Total |
140.8 |
109.1 |
95.1 |
74.1 |
77.1 |
|
Total Long Term Debt |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Debt |
77.4 |
41.4 |
82.0 |
43.6 |
34.0 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Benefits - Underfunded |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Liabilities |
123.3 |
93.9 |
74.3 |
58.3 |
52.5 |
|
Other Liabilities, Total |
123.3 |
93.9 |
74.3 |
58.4 |
52.5 |
|
Total Liabilities |
2,158.0 |
1,721.6 |
1,618.8 |
1,416.0 |
1,194.9 |
|
|
|
|
|
|
|
|
Common Stock |
103.3 |
82.0 |
70.5 |
55.2 |
42.7 |
|
Common Stock |
103.3 |
82.0 |
70.5 |
55.2 |
42.7 |
|
Retained Earnings (Accumulated Deficit) |
112.0 |
82.7 |
92.1 |
65.3 |
48.1 |
|
Unrealized Gain (Loss) |
3.1 |
35.5 |
41.0 |
16.4 |
18.4 |
|
Translation Adjustment |
0.0 |
0.0 |
- |
- |
- |
|
Other Equity |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Other Equity, Total |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Total Equity |
218.7 |
200.5 |
204.0 |
137.3 |
109.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,376.7 |
1,922.2 |
1,822.8 |
1,553.3 |
1,304.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
838.5 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Total Common Shares Outstanding |
838.5 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Employees |
6,689 |
6,219 |
5,534 |
5,375 |
5,321 |
|
Number of Common Shareholders |
106,876 |
112,065 |
86,200 |
30,899 |
24,153 |
|
Total Risk-Weighted Capital |
- |
- |
- |
0.1 |
0.8 |
|
Tier 1 Capital % |
9.88% |
10.82% |
8.51% |
11.29% |
10.87% |
|
Total Capital % |
12.20% |
13.56% |
11.23% |
13.63% |
13.53% |
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 |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Aziz Halim Khair
Choudhury |
Aziz Halim Khair
Choudhury |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
13.0 |
13.8 |
11.6 |
10.5 |
9.4 |
|
Cash Payments |
-35.7 |
-34.5 |
-32.0 |
-27.7 |
-26.3 |
|
Cash Taxes Paid |
-27.4 |
-24.2 |
-20.1 |
2.3 |
-22.3 |
|
Other Assets |
-334.7 |
-354.1 |
-262.5 |
-243.8 |
-201.2 |
|
Other Liabilities |
364.8 |
348.2 |
197.7 |
202.6 |
215.5 |
|
Other Operating Cash Flow |
98.7 |
96.9 |
100.9 |
74.1 |
68.2 |
|
Changes in Working Capital |
128.8 |
90.9 |
36.2 |
32.9 |
82.6 |
|
Cash from Operating Activities |
78.7 |
46.1 |
-4.4 |
18.0 |
43.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-4.0 |
-2.8 |
-1.6 |
-2.1 |
-1.3 |
|
Purchase/Acquisition of Intangibles |
0.0 |
-0.2 |
0.0 |
- |
- |
|
Capital Expenditures |
-4.0 |
-3.0 |
-1.6 |
-2.1 |
-1.3 |
|
Sale of Fixed Assets |
- |
0.0 |
0.0 |
- |
- |
|
Sale/Maturity of Investment |
- |
0.0 |
0.0 |
- |
- |
|
Other Investing Cash Flow Items, Total |
- |
0.0 |
0.0 |
- |
- |
|
Cash from Investing Activities |
-4.0 |
-3.0 |
-1.6 |
-2.1 |
-1.3 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-4.1 |
-3.4 |
-2.7 |
0.0 |
- |
|
Total Cash Dividends Paid |
-4.1 |
-3.4 |
-2.7 |
0.0 |
- |
|
Sale/Issuance of
Common |
0.0 |
21.8 |
0.0 |
- |
- |
|
Common Stock, Net |
0.0 |
21.8 |
0.0 |
- |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
21.8 |
0.0 |
- |
- |
|
Long Term Debt, Net |
1.2 |
0.2 |
-0.9 |
-1.9 |
1.4 |
|
Issuance (Retirement) of Debt, Net |
1.2 |
0.2 |
-0.9 |
-1.9 |
1.4 |
|
Cash from Financing Activities |
-2.9 |
18.6 |
-3.7 |
-1.9 |
1.4 |
|
|
|
|
|
|
|
|
Net Change in Cash |
71.7 |
61.8 |
-9.7 |
14.0 |
43.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
193.4 |
152.0 |
171.4 |
158.9 |
116.4 |
|
Net Cash - Ending Balance |
265.1 |
213.8 |
161.7 |
172.8 |
159.9 |
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 |
Reclassified
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 |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Aziz Halim Khair
Choudhury |
Aziz Halim Khair
Choudhury |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest Income |
201.8 |
163.5 |
129.4 |
116.7 |
99.2 |
|
Total Revenue |
201.8 |
163.5 |
129.4 |
116.7 |
99.2 |
|
|
|
|
|
|
|
|
Interest Paid on Deposts, Borrowings |
113.2 |
78.8 |
54.5 |
54.5 |
41.0 |
|
Interest on Borrowings |
- |
- |
- |
0.1 |
0.1 |
|
Provis for Loans & Advances-Classified |
0.9 |
0.9 |
1.0 |
0.7 |
0.7 |
|
Provis for Loans & Advances-Unclassified |
- |
0.0 |
3.9 |
0.7 |
3.5 |
|
Pro. for Diminution in Value of Invest |
21.3 |
11.9 |
2.4 |
1.0 |
0.2 |
|
Total Operating Expense |
135.4 |
91.6 |
61.7 |
57.0 |
45.6 |
|
|
|
|
|
|
|
|
Invesmtnet Income |
25.9 |
17.6 |
30.7 |
16.1 |
6.6 |
|
Commission, Exchange & Brokerage |
17.2 |
21.4 |
19.9 |
17.2 |
17.3 |
|
Foreign Currency Charge |
- |
- |
- |
0.0 |
0.0 |
|
Other Operating Income |
8.1 |
4.7 |
4.3 |
4.5 |
8.2 |
|
Salary & Allowances |
-33.1 |
-31.7 |
-29.5 |
-25.5 |
-24.3 |
|
Rent. Taxes, Insurance, Electricity |
-3.9 |
-3.5 |
-3.2 |
-2.7 |
-2.1 |
|
Legal Expenses |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.1 |
|
Postage, Stamp Telecommunication |
-0.7 |
-1.1 |
-0.8 |
-0.8 |
-0.7 |
|
Stationery, Printings, Advertisements |
-1.6 |
-1.5 |
-1.4 |
-1.2 |
-1.1 |
|
Managing Director's Salary & Fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Directors' Fees |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Charge on Loan Losses |
0.0 |
0.0 |
-0.2 |
-0.2 |
-0.1 |
|
Auditors' Fee |
-8.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation & Repair of Banks Assets |
-3.0 |
-2.6 |
-2.2 |
-1.7 |
-1.8 |
|
Other Expenes |
-14.7 |
-13.6 |
-13.4 |
-12.0 |
-9.6 |
|
Total Non-Interest Revenue |
51.2 |
43.7 |
55.0 |
37.8 |
32.2 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-66.3 |
-54.3 |
-51.1 |
-44.3 |
-40.0 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
51.3 |
61.3 |
71.5 |
53.2 |
45.8 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
31.7 |
30.7 |
25.1 |
22.8 |
23.7 |
|
Net Income After Taxes |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Non-Controlling Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Income Before Extra. Items |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
Net Income |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
837.8 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Basic EPS Including ExtraOrdinary Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Diluted Net Income |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
Diluted Weighted Average Shares |
838.5 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Diluted EPS Including ExtraOrd Items |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
DPS-Fully Paid Ord. Shrs |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
- |
- |
- |
0.0 |
|
Normalized Income Before Taxes |
51.3 |
61.3 |
71.5 |
53.2 |
45.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
31.7 |
30.7 |
25.1 |
22.8 |
23.7 |
|
Normalized Income After Taxes |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.6 |
30.6 |
46.5 |
30.3 |
22.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Diluted Normalized EPS |
0.02 |
0.04 |
0.06 |
0.04 |
0.03 |
|
Rental Expense, -House Rent & ATM |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expense,Banks Premises |
3.7 |
1.8 |
1.7 |
1.3 |
1.1 |
|
Rental Expense, Godown |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expense, Officer's Residence |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advertising Expense, Supplemental |
0.8 |
0.8 |
0.7 |
0.5 |
0.4 |
|
Depreciation, Supplemental |
3.0 |
2.6 |
2.2 |
1.3 |
1.1 |
|
PromotionalExpense, Supplemental |
0.4 |
0.4 |
0.5 |
0.5 |
0.2 |
|
Current Tax |
31.1 |
30.1 |
24.4 |
22.8 |
23.7 |
|
Current Tax - Total |
31.1 |
30.1 |
24.4 |
22.8 |
23.7 |
|
Deferred Tax |
0.6 |
0.6 |
0.7 |
0.0 |
0.1 |
|
Deferred Tax - Total |
0.6 |
0.6 |
0.7 |
0.0 |
0.1 |
|
Income Tax - Total |
31.7 |
30.7 |
25.1 |
22.8 |
23.7 |
|
Defined Contribution Expense-PF |
- |
- |
- |
0.9 |
0.9 |
|
Defined Contribution Expense-GPF |
- |
- |
- |
0.0 |
0.0 |
|
Defined Contribution Expense-MD |
- |
- |
- |
0.0 |
0.0 |
|
Gratuity |
7.0 |
7.1 |
7.5 |
6.8 |
5.2 |
|
Total Pension Expense |
7.0 |
7.1 |
7.5 |
7.7 |
6.1 |
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 |
Updated Normal |
|
Filed Currency |
BDT |
BDT |
BDT |
BDT |
BDT |
|
Exchange Rate |
81.199997 |
81.83 |
70.475 |
69.26 |
68.91 |
|
Auditor |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi Chowdhury
& Co |
Hoda Vasi
Chowdhury & Co |
Aziz Halim Khair
Choudhury |
Aziz Halim Khair
Choudhury |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in Hand |
42.7 |
29.0 |
34.4 |
28.1 |
29.4 |
|
Balance with Bangladesh Bank |
168.1 |
114.5 |
110.9 |
101.2 |
84.4 |
|
Balance with Other Bank-Bangladesh |
15.7 |
10.6 |
9.9 |
19.0 |
26.6 |
|
Bal with Other Bank-Outside Bangladesh |
6.1 |
10.3 |
2.6 |
5.3 |
2.4 |
|
Money at Call Short Notice |
34.5 |
28.8 |
1.7 |
18.3 |
16.0 |
|
Investments-Government |
312.6 |
215.0 |
153.3 |
134.9 |
113.3 |
|
Investments-Others |
102.8 |
57.9 |
81.0 |
40.8 |
8.3 |
|
Loans, Cash Credits, Overdrafts |
1,470.7 |
1,261.6 |
1,250.0 |
1,085.5 |
909.4 |
|
Bills Purchased & Discounted |
13.1 |
17.3 |
14.4 |
8.4 |
7.2 |
|
Provison for Loan Loss |
- |
- |
- |
-22.5 |
-20.0 |
|
Land |
28.0 |
27.7 |
32.1 |
12.2 |
12.2 |
|
Building |
10.3 |
9.7 |
11.3 |
6.2 |
6.1 |
|
Furniture & Fixtures |
3.9 |
3.4 |
3.5 |
3.1 |
2.7 |
|
Computure & Computer Accessories |
7.1 |
5.6 |
5.1 |
3.4 |
0.0 |
|
Machinery & Equipment |
4.0 |
3.2 |
3.2 |
2.9 |
5.2 |
|
Vehicles |
2.3 |
1.6 |
1.7 |
1.4 |
1.1 |
|
Other premises, furniture-subsidiaries |
0.1 |
0.1 |
0.0 |
- |
- |
|
Accumulated Depreciation |
-12.5 |
-10.0 |
-9.7 |
-8.4 |
-7.3 |
|
Interest Accrued on Investment |
10.0 |
5.5 |
6.3 |
6.4 |
8.3 |
|
Accrued Income on Loans |
0.3 |
1.6 |
0.3 |
0.5 |
0.6 |
|
Advance security deposit, rent & prepaid |
1.3 |
1.8 |
1.0 |
1.6 |
1.6 |
|
Other Assets |
155.7 |
126.9 |
109.7 |
104.9 |
96.8 |
|
Non-Banking Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets |
2,376.7 |
1,922.2 |
1,822.8 |
1,553.3 |
1,304.4 |
|
|
|
|
|
|
|
|
Borrworings from Other Banks |
41.4 |
5.6 |
46.7 |
6.2 |
5.7 |
|
Unclaimed Dividend |
- |
- |
- |
0.0 |
0.0 |
|
Current Deposits & Other Accounts |
192.0 |
174.8 |
235.5 |
185.2 |
168.0 |
|
Bills Payable |
36.0 |
35.8 |
35.4 |
37.5 |
28.3 |
|
Savings Bank Deposits |
463.5 |
443.3 |
478.3 |
442.7 |
377.7 |
|
Fixed Deosits |
1,105.9 |
811.2 |
603.9 |
567.7 |
448.3 |
|
Other Deposits |
55.0 |
48.0 |
49.6 |
44.2 |
37.3 |
|
Unpaid Dividend |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Pension Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Provision for Taxation |
140.8 |
109.1 |
95.1 |
74.1 |
77.0 |
|
Other Liabilities |
123.3 |
93.9 |
74.3 |
58.3 |
52.5 |
|
Non-Controlling Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Liabilities |
2,158.0 |
1,721.6 |
1,618.8 |
1,416.0 |
1,194.9 |
|
|
|
|
|
|
|
|
Paid Up Capital |
103.3 |
82.0 |
70.5 |
55.2 |
42.7 |
|
Statutory Reserve |
75.1 |
63.9 |
58.9 |
45.5 |
35.1 |
|
Assets Revaluation Reserve |
3.1 |
35.5 |
41.0 |
16.4 |
18.4 |
|
Share Forfeiture Account |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Exchange Eqalisation Fund |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Retained Surplus(General Reserve) |
36.9 |
18.8 |
33.2 |
19.8 |
13.0 |
|
Proposed Issue of Bonus Shares |
- |
0.0 |
- |
0.0 |
0.0 |
|
Foreign Currency Translation Reserve |
0.0 |
0.0 |
- |
- |
- |
|
Total Equity |
218.7 |
200.5 |
204.0 |
137.3 |
109.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,376.7 |
1,922.2 |
1,822.8 |
1,553.3 |
1,304.4 |
|
|
|
|
|
|
|
|
S/O-Fully Paid Ord. Shrs |
838.5 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Total Common Shares Outstanding |
838.5 |
838.5 |
838.5 |
838.5 |
838.5 |
|
Tier 1 Capital % |
9.88% |
10.82% |
8.51% |
11.29% |
10.87% |
|
Total Capital % |
12.20% |
13.56% |
11.23% |
13.63% |
13.53% |
|
Total Risk-Weighted Capital |
- |
- |
- |
56.1 |
834.5 |
|
Full-Time Employees |
6,689 |
6,219 |
5,534 |
5,375 |
5,321 |
|
Number of Common Shareholders |
106,876 |
112,065 |
86,200 |
30,899 |
24,153 |
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 |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Hoda Vasi
Chowdhury & Co |
Aziz Halim Khair
Choudhury |
Aziz Halim Khair
Choudhury |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash Receipts |
13.0 |
13.8 |
11.6 |
10.5 |
9.4 |
|
Cash Payments |
-35.7 |
-34.5 |
-32.0 |
-27.7 |
-26.3 |
|
Interest Receipts in Cash |
228.6 |
179.5 |
158.7 |
130.6 |
105.5 |
|
Interest Payments |
-116.5 |
-78.8 |
-54.5 |
-54.6 |
-41.1 |
|
Dividend Receipts |
1.7 |
1.1 |
1.4 |
2.2 |
0.3 |
|
Fees & Commission Reciepts in Cash |
13.1 |
12.8 |
12.7 |
11.2 |
11.9 |
|
Recoveries of loans Previously W/Off |
0.0 |
0.0 |
0.0 |
0.0 |
4.3 |
|
Cash Taxes Paid |
-27.4 |
-24.2 |
-20.1 |
2.3 |
-22.3 |
|
Payments for Other Operating Activities |
-28.2 |
-17.7 |
-17.3 |
-15.3 |
-12.6 |
|
Statutory Deposits |
-95.4 |
-91.8 |
-21.6 |
-22.8 |
-35.4 |
|
Purchase/Sale of Trading Securiteis |
-44.1 |
-8.3 |
-40.9 |
-32.1 |
-5.6 |
|
Loans & Advances to Custmers |
-192.8 |
-239.7 |
-214.1 |
-179.9 |
-163.9 |
|
Other Assets |
-2.5 |
-14.3 |
14.2 |
-9.0 |
3.8 |
|
Deposits from Other Banks |
35.5 |
-38.2 |
41.1 |
0.5 |
-11.6 |
|
Deposits from Customers |
325.1 |
337.0 |
149.2 |
223.8 |
219.0 |
|
Other Liabilities on Account of Customer |
2.9 |
17.6 |
7.8 |
-21.6 |
8.0 |
|
FC Translation Reserve |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Liabilities |
1.4 |
31.7 |
-0.4 |
-0.1 |
0.1 |
|
Cash from Operating Activities |
78.7 |
46.1 |
-4.4 |
18.0 |
43.3 |
|
|
|
|
|
|
|
|
Proceeds from Sale of Securities |
- |
0.0 |
0.0 |
- |
- |
|
Sale of Fixed Assets |
- |
0.0 |
0.0 |
- |
- |
|
Membership at cost |
0.0 |
-0.2 |
0.0 |
- |
- |
|
Purchase/Sale of Fixed Assets |
-4.0 |
-2.8 |
-1.6 |
-2.1 |
-1.3 |
|
Cash from Investing Activities |
-4.0 |
-3.0 |
-1.6 |
-2.1 |
-1.3 |
|
|
|
|
|
|
|
|
Issue of share Capital |
0.0 |
21.8 |
0.0 |
- |
- |
|
Issuance of Loan Capital & Debt Securiti |
1.2 |
0.2 |
-0.9 |
-1.9 |
1.4 |
|
Dividend Paid |
-4.1 |
-3.4 |
-2.7 |
0.0 |
- |
|
Cash from Financing Activities |
-2.9 |
18.6 |
-3.7 |
-1.9 |
1.4 |
|
|
|
|
|
|
|
|
Net Change in Cash |
71.7 |
61.8 |
-9.7 |
14.0 |
43.5 |
|
|
|
|
|
|
|
|
Cash at the Beginning of the Year |
193.4 |
152.0 |
171.4 |
158.9 |
116.4 |
|
Cash at the End of the Year |
265.1 |
213.8 |
161.7 |
172.8 |
159.9 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 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.