MIRA INFORM REPORT

 

 

Report Date :

06.03.2014

 

IDENTIFICATION DETAILS

 

Name :

SHAHJALAL ISLAMI BANK LTD.

 

 

Registered Office :

58,  Dilkusha C/A, Dhaka-1000,

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

03.04.2001

 

 

Com. Reg. No.:

C-42778 

 

 

Legal Form :

Public Listed Co

 

 

Line of Business :

Banking Services

 

 

No. of Employees :

1881

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Excellent

Payment Behaviour :

Regular

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

In real terms Bangladesh's economy has grown 5.8% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, and slow implementation of economic reforms. Bangladesh remains a poor, overpopulated, and inefficiently-governed nation. Although more than half of GDP is generated through the service sector, 45% of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Bangladesh's growth was resilient during the 2008-09 global financial crisis and recession. Garment exports, totaling $12.3 billion in FY09 and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP

 

Source : CIA

 

 

 

 

 

Company name and address

 

Correct company Name

:

SHAHJALAL ISLAMI BANK LTD.

Head Office

:

58,  Dilkusha C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9570795-8, 9570805

Fax No

:

88-02-9556011  

E-mail

:

sblmain@shahjalalbank.com.bd  

Website

:

www.shahjalalbank.com.bd

Date/ Year of Incorporation

:

03-04-2001

Incorporation No.

:

C-42778 

Legal Form (General)

:

 Public Listed Co        Public (but not listed)   Private Co   State-owned Co

 Sole Proprietorships  Partnership                     Not Registered

 others (please specify) ________________

 

Legal form (Specific)

:

LTD   CORP    INC  CO    

 others (please specify) ________________

 

Issuing Authority

:

Registrar of Joint Stock Companies & Firms       City Corporation

 Municipal Administration                                   Union Council

 Cantonment Board                                              Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

31st December 2012

Tk. 15,428,381,633

Tk. 133,900,017,026

Tk. 4,944,126,894

Jan.’13 to Sep’13

(Un - Audited)

Tk. 10,700,624,461

Tk. 129,542,708,968

Tk. 4,061,473,576

Exchange Rate

USD1-Tk. 77.8200

EUR 1- Tk. 100.2711

GBP 1- Tk.118.5354

AUD 1 - Tk.82.8563

JPY 1 - Tk.0.9286

CAD 1 - Tk.80.1887

SEK 1 - Tk.12.2870

SGD 1 - Tk.65.3045

CNH 1 - Tk.12.8399

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Md. Abul Basher.

Designation

:

Deputy General Secretary.

Contract No

:

-

 

                                                               Locations Details

 

Operating Address

:

58 Dilkusha C/A, Dhaka-1000, Bangladesh.

Tel No

:

88-02-9570795-8, 9570805

Fax No

:

88-02-9556011  

E-mail

:

sblmain@shahjalalbank.com.bd  

Website

:

www.shahjalalbank.com.bd

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

50,000

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

 

 

 

 

 

 

Branches:

 

 

 

 

 

No of Branch

:

84 Nos.

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

1881

In Factory

:

-

In Branch:

:

-

Total

:

1881

Details:-

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Sponsor Shareholders

2,501,655,893

General Shareholders

3,064,163,295

 

 

DIRECTORS

 

Name

Designation

Alhaj Anwer Hossain Khan

Chairman

Alhaj Md. Harun Miah

Vice Chairman

Alhaj Khondoker Shakib Ahmed

Vice Chairman

Md. Abdur Rahman Sarker

Managing Director

Alhaj Sajjatuz Jumma

Director

Alhaj Mohammed Faruque

Director

Alhaj Toffazal Hossain

Director

Alhaj Md. Sanaullah Shahid

Director

Alhaj Mohammed Farooq

Director

Alhaj Mohammed Hasan

Director

Alhaj Md. Abdul Barek

Director

Alhaj Mohammed Solaiman

Director

Alhaj Syed Nurul Arefeen

Director

Alhaj Abdul Halim

Director

Alhaj Mohiuddin Ahmed

Director

Alhaj Akkas Uddin Mollah

Director

Alhaj Engr. Md. Towhidur Rahman

Director

Alhaj A.K. Azad

Director

Alhaj Mohammed Younus

Director

Alhaj Nazmul Islam Nuru

Independent Director

Mr. Mosharraf Hossain

Independent Director

Alhaj Md. Abdul Mannan

Sponsor Director

 

 

MANAGEMENT

 

Name

:

Md. Abdur Rahman Sarker

Job Description

:

Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Mukther Hossain

Job Description

:

Additional Managing Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

Name

:

Alhaj Md. Harun Miah

Alhaj Khandaker Sakib Ahmed

Job Description

:

Vice Chairmen

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

Name

:

Mr. Md. Abul Basher.

Job Description

:

Deputy General Secretary.

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Banking Corporation

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Banking Services

Production Capacity

:

N/A

Last Year Production

:

N/A

 

 

Trading Terms:

 

Purchasing Terms:

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

Selling Terms      :

L/C

N/A

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

 

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

N/A

 

 

 

Brand Name

:

N/A

Certified

:

N/A

Auditors

:

Huda Vasi & Co.

Chartered Accountants

Operation Status

:

Active.

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

Tk. 600 Crore.

 

Paid-up Capital

:

Tk. 55, 65,81,91,880

    No. of Shares

:

5,56,58,19,188

Share Value

:

Tk.10.0Each

Main Assets

:

Tk. 129, 542,708,968

 

 

 

FINANCIAL STATEMENT- DETAILED

 

Balance Sheet :

 

  Currency

: Tk

 

       Denomination

: 1

 

         Financial Year Ending

:31 December 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Subsidiary

:

Nil

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

Dhaka Bank Ltd.

Islami Bank Bangladesh Ltd.

Eastern Bank Ltd.

National Bank Ltd.

Prime Bank Ltd.

Citi Bank Ltd.

Uttara Bank Ltd.

Brac Bank Ltd. 

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks           

 

:     

No Record Found         

Debt

 

:

No Record Found

Litigation  

                   

:

Clear         

Performance Defaults

 

:

No Record Found         

Adverse Local Media Coverage/ Adverse Filling History

:

No Record Found

 

 

SITE VISIT COMMENTARY

 

Our representative visited the subject company Head Office which is situated at58,  Dilkusha C/A, Dhaka-1000, Bangladesh.

 

 

GENERAL COMMENTS

 

SC is considered large sized in its line with fairly stable financial conditions.

 

Adopted Abbreviations:

NA- Not Available

 TK- Bangladeshi Taka

 

 

 

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 :

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%)

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

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