MIRA INFORM REPORT

 

 

Report No. :

325465

Report Date :

04.06.2015

 

IDENTIFICATION DETAILS

 

Name :

STANDARD CHARTERED BANK

 

 

Formerly Known As :

STANDARD CHARTERED GRINDLAYS BANK LTD

 

 

Registered Office :

67, Gulshan Avenue Gulshan, Dhaka-1212

 

 

Country :

Bangladesh

 

 

Financials (as on) :

31.12.2014 (Branches)

 

 

Date of Incorporation :

01.08.2000

 

 

Legal Form :

Foreign Private Bank

 

 

Line of Business :

Commercial Banking (Loans, Credit Cards, Savings, and Consumer Banking)

 

 

No. of Employees :

1350

 

 

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)

Bangladesh

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector, accounted for more than 80% of total exports and surpassed $18 billion in 2014. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis - which totaled $14 billion and 8% of GDP in 2014 - are the largest contributors to Bangladesh’s current account surplus and rising foreign exchange holdings.

 

Source : CIA

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

Correct company Name

:

Standard Chartered Bank

Previous Name                                                    

:

Standard Chartered Grindlays Bank Ltd

Head Office

:

67, Gulshan Avenue Gulshan, Dhaka-1212, Bangladesh.

Tel No

:

88- 02-8833003 – 4, 09666777111

Fax No

:

N/A

E-mail

:

group.webmaster@standardchartered.com

Website

:

 www.standardchartered.com/bd

Date/ Year of Incorporation

:

01.08.2000 (Bangladesh)

Incorporation No.

:

N/A

Legal Form (General)

:

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

 Sole Proprietorships  Partnership                     Not Registered

 Foreign Private Bank ________________

Legal form (Specific)

:

LTD   CORP    INC  Bank    

 others (please specify) ________________

Issuing Authority

:

Registrar of Joint Stock Companies & Firms                 City Corporation

 Bangladesh Bank (Central Bank of Bangladesh)         Union Council

 Cantonment Board                                                Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

Income/ (Loss)

31 December 2013

BDT  9,748,063,871

BDT 228,858,021,536

BDT 8,376,646,119

31 December 2014

BDT  9,350,559,554

BDT 213,738,409,323

BDT 11,770,562,210

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. Jim McCabe

Designation

:

Country Chief Executive Officer (Bangladesh)

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

67, Gulshan Avenue Gulshan, Dhaka-1212, Bangladesh.

Tel No

:

88- 02-8833003 – 4, 09666777111

Fax No

:

N/A

E-mail

:

group.webmaster@standardchartered.com

Website

:

 www.standardchartered.com/bd

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

75000

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Factory:

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Location :

   Owned

 

 

Rented

 

 

Leased

 

Area

 

Sq. ft.

 

 

Number of Branches:

:

26

No. of ATM

:

97

No. of Financial Kiosk

:

19

 

 

 

 

Motijheel Branch:

 

 

 

Address

:

18-20 Motijheel C /A (Alico Building) Dhaka-1000, Bangladesh

Tel No

:

88-02-9561465

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

1350

In Factory

:

 

In Branch:

:

 

Total

:

1350

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Standard Chartered Bank Plc

                                 100%

 

 

DIRECTORS

 

Name

Designation

Mr. Sir John Peace

Chairman

Mr. Peter Sands

Group Chief Executive

Mr. Rudy Markham

Senior Independent-Non-Executive Director

Mr. Richard Meddings

Group Finance Director

Mr. Steve Bertamini

Group Executive Director

Mr. Jaspal Bindra

Group Executive Director

Mr. Om Bhatt

Non-Executive Director

Mr. Dr Louis Cheung

Non-Executive Director

Mr. Richard Delbridge

Non-Executive Director

Mr. Jamie Dundas

Non-Executive Director

Mr. Margaret Ewing

Non-Executive Director

Mr. Margaret Ewing

Non-Executive Director

Mr. Dr Han Seung-soo-KBE

Non-Executive Director

Mr. Val Gooding, CBE

Non-Executive Director

Mr. Simon Lowth

Non-Executive Director

Mr. Ruth Markland

Non-Executive Director

Mr. John Paynter

Non-Executive Director

Mr. Mike Rees

Group Executive Director

Mr. V. Shankar

Group Executive Director

Mr. Paul Skinner

Non-Executive Director

Mr. Oliver Stocken

Non-Executive Director

Mr. Dr Lars Thunell

Non-Executive Director

Mr. Annemarie Durbin

Group Company Secretary

 

 

MANAGEMENT

 

Name

:

Mr. Jim McCabe

Job Description

:

Country Chief Executive Officer (Bangladesh)

Nationality

:

England

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Anurag Adlakha,

Job Description

:

Regional Chief Financial officer for India and South Asia

Nationality

:

Indian

Email address

:

N/A

Other details

:

N/A

 

Name

:

Imtiaz Ibne Sattar,

Job Description

:

CFO(Bangladesh)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Commercial Banking

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

 

Importer

 

Services

 

Others

 

 

Item dealing In:

Products

:

Loans, Credit Cards, Savings, and Consumer Banking

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

:

N/A

Operation Status

:

Active

Member

:

N/A

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Registered In UK

 

Paid-up Capital

:

N/A

 No. of Shares

:

N/A

Share Value

:

N/A

Main Assets

:

BDT 213,738,409,323

 

 

 

FINANCIAL STATEMENT- DETAILED

 

Balance Sheet :

 

  Currency

BDT

 

       Denomination

: 1

 

         Financial Year Ending

: 31 December

    

 

 

Income Statement :

 

  Currency

:BDT

 

       Denomination

: 1

 

         Financial Year Ending

: 31 December

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Nil

Name of Mothers bank

:

Standard Chartered Bank Plc

Name of  The Group

:

Nil

 

 

BANKING

 

Bank Name  

:

N/A

Bank Address

:

 

 

 

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 at 67, Gulshan Avenue Gulshan, Dhaka-1212, Bangladesh. It is Situated at commercial area.

 

 

GENERAL COMMENTS

 

SC’s is the foreign commercial bank in Bangladesh. It is reputed foreign bank in Bangladesh.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.85

UK Pound

1

Rs.98.12

Euro

1

Rs.71.28

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.