|
Report No. : |
308209 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAUDI BRITISH
BANK |
|
|
|
|
Registered Office : |
Prince Abdulaziz
Bin Mossaad Bin Jalawi Street, P O Box: 9084, Riyadh 11413 |
|
|
|
|
Country : |
Saudi Arabia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
21.01.1978 |
|
|
|
|
Com. Reg. No.: |
1010025779,
Riyadh |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Providers of
Banking Services |
|
|
|
|
No. of Employees : |
3,049 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums. |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Saudi Arabia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SAUDI ARABIA - ECONOMIC OVERVIEW
Saudi Arabia has an oil-based
economy with strong government controls over major economic activities. It
possesses about 16% of the world's proven petroleum reserves, ranks as the
largest exporter of petroleum, and plays a leading role in OPEC. The petroleum
sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of
export earnings. Saudi Arabia is encouraging the growth of the private sector
in order to diversify its economy and to employ more Saudi nationals.
Diversification efforts are focusing on power generation, telecommunications,
natural gas exploration, and petrochemical sectors. Over 6 million foreign
workers play an important role in the Saudi economy, particularly in the oil
and service sectors, while Riyadh is struggling to reduce unemployment among
its own nationals. Saudi officials are particularly focused on employing its
large youth population, which generally lacks the education and technical
skills the private sector needs. Riyadh has substantially boosted spending on
job training and education, most recently with the opening of the King Abdallah
University of Science and Technology - Saudi Arabia's first co-educational
university. As part of its effort to attract foreign investment, Saudi Arabia
acceded to the WTO in 2005. The government has begun establishing six
"economic cities" in different regions of the country to promote
foreign investment and plans to spend $373 billion between 2010 and 2014 on social
development and infrastructure projects to advance Saudi Arabia's economic
development.
|
Source
: CIA |
Company Name : SAUDI
BRITISH BANK
Country of Origin : Saudi
Arabia
Legal Form :
Joint Stock Company
Registration Date : 21st
January 1978
Commercial
Registration Number :
1010025779, Riyadh
Issued Capital : SR
10,000,000,000
Paid up Capital : SR
10,000,000,000
Total Workforce : 3,049
Activities :
Providers of banking services
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
SAUDI BRITISH BANK
Location : Prince Abdulaziz Bin Mossaad Bin
Jalawi Street
PO Box : 9084
Town : Riyadh 11413
Country : Saudi Arabia
Telephone : (966-1) 4050677
Facsimile : (966-1) 4050660
Email : sabb@sabb.com
Subject operates
from a large suite of offices that are owned and located in the Central
Business Area of Riyadh.
Branch Office
(s)
Location Description
·
King
Abdul Aziz Street Office
premises
PO Box: 394
Al Khobar 31952
Tel: (966-13) 8826000
Fax: (966-13) 8072532 /
8072533
Subject has a network of 80 branches located throughout Saudi Arabia.
Name Position
· Khaled Sulaiman Olayan Chairman
· David Dew Managing Director
· Khalid Abdullah Al Molhem Director
· Sulaiman Abdulkhader Al Muhaidib Director
· Mohammed Omran Al Omran Director
· Mohammed Mazaid Mohammed Al Tuwaijri Director
· Ahmed Suleiman Banajah Director
· Saad Bin A Muhsin Al Fadhli Director
· Martin David Spurling Director
· Nigel Hinshelwood Director
Date of Establishment : 21st
January 1978
Legal Form :
Joint Stock Company
Commercial Reg. No. : 1010025779,
Riyadh
Issued Capital : SR 10,000,000,000
Paid up Capital : SR 10,000,000,000
·
HSBC
Holdings BV 40.00%
·
Olayan
Saudi Investment Co Ltd 16.90%
·
Abdulqader
Al Muhaidib & Sons Co 9.70%
·
General
Organisation for Social Insurance 5.00%
·
Members
of the general public & private investors 28.40%
Name Percentage Held
·
SABB
Securities Ltd 100%
Riyadh
CR No. 1010235982
·
SABB
Insurance Agency Company Ltd 100%
Riyadh
CR No. 1010235187
·
Arabian
Real Estate Company Ltd 100%
Riyadh
CR No. 1010188350
·
SABB
Insurance Services Ltd 51.0%
Riyadh
CR No. 1010241209
Activities: Engaged in the provision of banking
services, including personal, commercial, corporate, private and
Islamic banking, investment, treasury and trade services, credit and ATM
cards, electronic, internet and telephone banking.
Operating Trend: Steady
Subject has a
workforce of 3,049 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR 000’s)
Consolidated
Balance Sheet 31/12/13 31/12/12
31/12/11
ASSETS
Cash and balances
with SAMA 26,123,913 20,403,864 22,380,625
Due from banks
and other financial institutions 3,286,053 8,091,410 4,347,018
Investments, net 37,399,559 27,587,185 22,200,122
Loans and
advances, net 106,114,930 96,098,306 84,811,287
Investment in associates
647,057 612,232 565,191
Property and
equipment, net 603,656 612,232 536,922
Other assets 3,127,032 3,254,831 3,816,340
Total assets 177,302,200 156,652,337 138,657,505
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Due to banks and
other financial institutions 3,769,640 5,931,850 5,894,056
Customers’
deposits 138,961,470 120,433,716 105,576,542
Debt securities
in issue 5,282,873 4,505,780 3,978,660
Borrowings 109,375 140,625 171,875
Other liabilities
6,346,043 5,574,859 5,870,171
Total liabilities 154,469,401 136,586,830 121,491,304
Shareholders’ equity
Share capital 10,000,000 10,000,000 7,500,000
Statutory reserve
7,934,504 6,991,051 6,180,972
Other reserves (10,738) (4,220) (225,710)
Retained earnings
3,809,033 2,078,676 3,148,439
Proposed
dividends 1,100,000 1,000,000 562,500
Total shareholders’ equity 22,832,799 20,065,507 17,166,201
Total liabilities and shareholders’ equity 177,302,200 156,652,337 138,657,505
Consolidated
Statement of Income 31/12/13 31/12/12
31/12/11
Special
commission income 4,386,138 3,999,985 3,515,880
Special
commission expense 666,842 735,885 493,905
Net special commission income 3,719,296 3,264,100 3,021,975
Fees and
commission income, net 1,433,435 1,321,600 1,215,004
Exchange income,
net 401,480 232,208 265,095
Income from FVIS financial instruments 11,250 - -
Trading income,
net 169,165 295,457 307,860
Dividend income 38,629 35,638 51,474
Gains on
non-trading investments, net 40,251 16,042 4,192
Other operating
income 1,878 1,438 32,991
Total operating income 5,815,384 5,166,483 4,898,591
Salaries and
employee related expenses 1,090,597 1,008,961 996,169
Rent and premises
related expenses 110,613 95,434 96,246
Depreciation 91,518 112,113 94,995
General and
administrative expenses 428,265 375,322 417,762
Provision for
credit losses, net 374,179 440,544 475,530
Impairment of
other financial assets 67,855 (1,589) (6,742)
Other operating
expenses 1,717 6,612 361
Total operating expenses 2,164,744 2,037,397 2,074,321
Income from operating activities 3,650,640 3,129,086 2,824,270
Share in earnings
of associates, net 123,170 111,230 64,165
Net income for the year 3,773,810 3,240,316 2,888,435
Local sources
consider subject’s financial condition to be Good.
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s operating
history or the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.