MIRA INFORM REPORT

Report No. :	328697
Report Date :	25.06.2015

IDENTIFICATION DETAILS

Name :	BANQUE ATLANTIQUE BURKINA FASO
Registered Office :	Rue de l’Hôtel de villeImmeuble Nouria Holding, Rue De l’Hôtel de ville, Quagadougou 01
Financials (as on) :	31.12.2014
Country :	Burkina Faso
Date of Incorporation :	27.04.2005
Legal Form :	Limited Corporation
Line of Business :	Subject is provides of banking and related financial services
No of Employees :	250

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 :	No Complaints
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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Burkina Faso	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	D

BURKINA FASO ECONOMIC OVERVIEW

Burkina Faso is a poor, landlocked country that depends on adequate rainfall. About 80% of the population is engaged in subsistence farming and cotton is the main cash crop. The country has few natural resources and a weak industrial base. Cotton and gold are Burkina Faso’s key exports and Burkina Faso’s economic growth and revenue depends on global prices for the two commodities. The Burkinabe economy experienced high levels of growth over the last few years and gold accounted for about three-quarters of the country’s total export revenues in 2013. The country has seen an upswing in gold exploration, production, and exports. Burkina Faso experienced a number of public protests over the high cost of living, corruption, and other socioeconomic issues in 2013 and the fall of the COMPAORE government in 2014 gave rise to laborers pushing for better pay and working conditions. A new three-year IMF program was approved in 2013 to focus on improving the quality of public investment and ensuring inclusive growth. Political insecurity in neighboring Mali, unreliable energy supplies, and poor transportation links pose long-term challenges.

Source : CIA

SUBJECT'S NAME
Registered Name:	BANQUE ATLANTIQUE BURKINA FASO
Requested Name:	BANQUE ATLANTIQUE BURKINA FASO
Other Names:	BABF
_______________________________________________________________________
ADDRESS AND TELECOMMUNICATION
Physical Address:	Rue de l’Hôtel de villeImmeuble Nouria Holding, Rue De l’Hôtel de ville
Postal Address:	01 BP 3407
	Quagadougou 01
Country:	Burkina Faso
Phone:	226-25492446/25492447/25492448/25492449/ 25492450/50492446/50
Fax:	226-50492451
Email:	info@banqueatlantique.net
Website:	www.banqueatlantique.net
_______________________________________________________________________
CREDIT OPINION
Financial Index as of December 2014 shows subject firm with a medium risk of credit.
_______________________________________________________________________
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		27-April-2005
Reg. Number:		Burkina Faso
Nominal Capital		CFA. 6,000,000,000
Subscribed Capital		CFA. 6,000,000,000
Subscribed Capital is Subscribed in the following form:
		Position	Shares
Mr. Mady Compaore		MD
Mr. Yssouf Gbane		Deputy MD
Group Banque Centrale Populaire		Holding Co.	100%
_______________________________________________________________________
RELATED COMPANIES
Group Banque Centrale Populaire		Parent company.
None		Subsidiary company.
Banque Atlantique BENIN (BABN), Atlantic Bank IVORY COAST (BACI), Atlantic Bank MALI (BAML), Atlantic Bank NIGER (BANE), Bank Atlantic SENEGAL (BASN), Bank Atlantic TOGO (BATG), FINANCE ATLANTIC (SO).		Affiliated company.
None		Shareholders of subject firm.
Various in Burkina Faso		Branches of the firm
___________________________________________________________________________
OPERATIONS
Registered to operate as providers of banking and related financial services
Imports:		Asia, Europe
Exports:		None
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		Industries, firms and organizations
Employees:		250 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Burkina Faso
Location:		Owned premises, 20,000 square feet,
_______________________________________________________________________
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
_______________________________________________________________________
FINANCE
Currency Reported:		West African Franc (CFA.)
Approx. Ex. Rate:		1 US Dollar = 585.47 West African Franc
Fiscal Year End:		December 31, 2014
Inflation:		According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.
Group Financial Information Submitted
_______________________________________________________________________
BANK
Bank Name:		Central Bank of West African States
Branch:		Burkina Faso
Comments:		None
_______________________________________________________________________
TRADE REFERENCES
Experiences:		Good
_______________________________________________________________________
NOTARIAL BONDS		None
_______________________________________________________________________
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.66
UK Pound	1	Rs. 100.50
Euro	1	Rs. 71.31

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	DPT

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%)

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