|
|
|
MIRA
INFORM REPORT
|
Report No. : |
490898 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
THE PREMIER BANK LIMITED |
|
|
|
|
Registered Office : |
Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani,
Dhaka-1213 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
30.09.2017 |
|
|
|
|
Date of Incorporation : |
10.06.1999 |
|
|
|
|
Com. Reg. No.: |
C-37922 |
|
|
|
|
Legal Form : |
Public Listed Bank |
|
|
|
|
Line of Business : |
Commercial Banking Services. |
|
|
|
|
No. of Employees : |
1286 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
BANGLADESH - ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since 1996 despite
prolonged periods of political instability, poor infrastructure, endemic
corruption, insufficient power supplies, and slow implementation of economic
reforms. Although more than half of GDP is generated through the services
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 $25 billion in 2016.
The sector continues to grow, despite a series of high-profile factory
accidents that have killed more than 1,000 workers and crippling strikes,
including a nationwide transportation blockade orchestrated by the political
opposition during the first several months of 2015. Steady export growth in the
garment sector combined with remittances from overseas Bangladeshis - which
totaled about $15 billion and 8% of GDP in 2015 - are key contributors to
Bangladesh's sustained economic growth and rising foreign exchange reserves.
|
Source
: CIA |
IDENTIFICATION
DETAILS
|
||
|
Correct company Name |
: |
THE PREMIER BANK LIMITED |
|
Head Office |
: |
Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani,
Dhaka-1213, Bangladesh. |
|
Tel No |
: |
88-02-9820844-8 |
|
Fax No |
: |
880-2- 9820832 |
|
E-mail |
: |
info@premierbankltd.com |
|
Website |
: |
|
|
Date/ Year of Incorporation |
: |
10.06.1999 |
|
Incorporation No. |
: |
C-37922 |
|
VAT Registration |
: |
5101027082 |
|
TIN Certificate |
: |
140-201-0820, LTU, Dhaka |
|
Legal Form (General) |
: |
Public Listed Bank 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’2016 |
BDT 4,726,392,008 (01.01.2017~30.09.2017) |
BDT 155,167,287,682 |
BDT 1,099,916,986 (01.01.2017~30.09.2017) |
|
30th
September’2017 |
BDT 5,865,593,472 (01.01.2016~30.09.2016) |
BDT 174,742,076,210 |
BDT 338,656,794 (01.01,2016~30.09.2016) |
FULLCHECK REPORT DETAILS |
||
|
Information Parted By |
||
|
|
|
|
|
Name |
: |
Mr. Syed Ahsan Habib,
FCMA |
|
Designation |
: |
Company secretary |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
|
||
|
Business Address |
: |
Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh. |
|
Tel No |
: |
88-02-9820844-8, |
|
E-mail |
: |
880-2- 9820832 |
|
Fax No |
: |
info@premierbankltd.com |
|
Website |
: |
|
|
Location : |
: Owned |
|
Rented |
Ö |
|
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. |
|
|
|
|
|
|
Number of Branches: |
||
|
|
|
|
|
Number of branches |
: |
86 |
|
Employee: |
|
|||||||
|
|
|
|||||||
|
No. of Employees |
In Office |
: |
1286 |
In Factory |
: |
- |
||
|
In Branch: |
: |
- |
Total |
: |
1286 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS |
|
|
Names of Shareholders |
No. of Share |
|
Dr. H. B. M. Iqbal |
26,252,791 |
|
Mr. Mohammad Imran Iqbal |
13,642,267 |
|
Mr. B. H. Haroon, MP |
13,645,408 |
|
Mr. Abdus
Salam Murshedy |
28,722,713 |
|
Mr.
Shafiqur Rahman |
13,647,645 |
|
Mr. Jamal
G. Ahmed |
21,268,732 |
|
Mr. Shah
Md. Nahyan Haroon |
13,645,579 |
|
Mrs.
Shaila Shelly Khan |
34,092,674 |
|
Mr. Yeh
Cheng Min |
20,482,877 |
|
Mrs. Fouzia
Rekza Banu |
17,628,650 |
|
Dr. Arifur
Rahman |
23,633,238 |
|
Mr. Nurul
Amin |
4,744,519 |
|
General
Public |
450673980 |
DIRECTORS
|
|
|
Name |
Designation |
|
Dr. H. B. M. Iqbal |
Chairman |
|
Mr. Mohammad Imran Iqbal |
Vice Chairman |
|
Mr. Khondker Fazle Rashid |
Managing Director & CEO |
|
Mr. B. H. Haroon, MP |
Director |
|
Mr. Abdus Salam Murshedy |
Director |
|
Mr. Shafiqur Rahman |
Director |
|
Mr. Shah Md. Nahyan Haroon |
Director |
|
Mrs. Shaila Shelly Khan |
Director |
|
Mr. Yeh Cheng Min |
Director |
|
Mr. Jamal G Ahmed |
Director |
|
Mr. Chowdhury Jafarullah Sharafat |
Independent Director |
|
Mrs. Faiza Rahman |
Independent Director |
MANAGEMENT |
||
|
Name |
: |
Mr. Khondker Fazle Rashid |
|
Job Description |
: |
Managing Director & CEO |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. M. Reazul Karim |
|
Job Description |
: |
Additional Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Syed Nowsher Ali |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Shamsuddin Chowdhury |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Sami Karim |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Md Shah Alam |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. S.M. Abdul Hamid |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. M. A. Abdullah |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
|
|
|
|
|
Name |
: |
Mr. Naim Md. Abdur Rashid |
|
Job Description |
: |
Deputy Managing Director |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
N/A |
|
Other details |
: |
N/A |
BUSINESS OPERATIONS |
||||||||
|
Nature of Activity : |
Banking |
Ö |
Trader |
|
Dealer |
|
Distributor |
|
|
|
|
|||||||
|
|
Exporter |
|
Importer |
|
Services |
|
Others |
|
|
Item Dealings
In: |
||
|
|
||
|
Products |
: |
Commercial 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 |
Ö |
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 |
: |
Local people, Companies |
|
||||
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|
||||||
|
Trade Markets |
: |
Exports |
: |
N/A |
|
|||||||
|
Imports |
: |
N/A |
|
|||||||||
|
Brand Name |
: |
N/A |
||||||||||
|
Certified |
: |
N/A |
||||||||||
|
Auditors |
: |
Syful Shamsul Alam & Co Chartered Accountants Paramount Heights (Level-6) 65/2/1, Box Culvert Road, Purana Paltan Dhaka-1000, Bangladesh |
||||||||||
|
Operation Status |
: |
Active |
||||||||||
|
Member |
: |
N/A |
||||||||||
|
|
|
|
||||||||||
CAPITAL STRUCTURE |
|
|||||||||||
|
|
|
|||||||||||
|
Authorized Capital |
: |
BDT 10,000 Million |
|
|||||||||
|
|
|
|||||||||||
|
Paid-up Capital |
: |
BDT 682,081,0730 |
|
|||||||||
|
|
|
|||||||||||
|
No. of Shares |
: |
682,081,073 |
|
|||||||||
|
|
|
|||||||||||
|
Share Value |
: |
BDT 10.00 Each |
|
|||||||||
|
|
|
|||||||||||
|
Main Assets |
: |
BDT 174,742,076,210 |
|
|||||||||
FINANCIAL STATEMENT- DETAILED |
||
|
Consolidated Balance Sheet : |
||
|
|
Currency |
: BDT |
|
|
Denomination |
: 1 |
|
|
Financial Year
Ending |
: 30th
September |
|
Financial Highlights |
Sept’2017 |
Dec’2016 |
|
Property
And Assets |
|
|
|
|
|
|
|
Cash |
10,517,470,142 |
10,035,167,151 |
|
In Hand (Including Foreign Currencies) |
1,548,081,974 |
1,207,373,971 |
|
Balance With Bangladesh Bank And Its Agent
Bank(S) (Including Foreign Currencies) |
8,969,388,168 |
8,827,793,180 |
|
|
|
|
|
Balance
With Other Banks And Financial Institutions |
574,516,555 |
1,100,594,938 |
|
In Bangladesh |
48,824,034 |
846,769,364 |
|
Outside Bangladesh |
525,692,521 |
253,825,574 |
|
|
|
|
|
Money
at Call and Short Notice |
- |
- |
|
|
|
|
|
Investments
|
23,577,958,964 |
23,301,143,562 |
|
Government Securities |
17,461,558,834 |
16,263,333,802 |
|
Others |
6,116,400,130 |
7,037,809,760 |
|
|
|
|
|
Loans,
Advances and Lease/Investments |
131,144,151,364 |
113,777,562,064 |
|
Loans, Cash Credits, Overdrafts, etc. |
126,659,409,212 |
108,019,159,866 |
|
Bills Purchased and Discounted |
4,484,742,152 |
5,758,402,198 |
|
|
|
|
|
Fixed
Assets Including Premises, Furniture and Fixtures |
2,409,385,978 |
2,408,410,725 |
|
|
|
|
|
Other
Assets |
6,518,593,207 |
4,544,409,242 |
|
Non-Banking
Assets |
- |
- |
|
Total
Assets |
174,742,076,210 |
155,167,287,682 |
|
|
|
|
|
Liabilities
and Capital |
|
|
|
|
|
|
|
Liabilities |
|
|
|
Borrowings
From Other Banks, Financial Institutions and Agents |
12,667,675,191 |
4,869,857,372 |
|
|
|
|
|
Non-Convertible
Subordinated Bonds |
6,200,000,000 |
6,000,000,000 |
|
|
|
|
|
Deposits
and Other Accounts |
136,581,799,967 |
125,640,370,898 |
|
Savings/Mudaraba Savings Deposits |
8,473,316,005 |
7,487,133,469 |
|
Fixed Deposits/Mudaraba Term Deposits |
88,955,280,193 |
81,593,259,775 |
|
Current Deposits And Other Accounts |
37,716,757,676 |
34,880,162,796 |
|
Bills Payable |
1,436,446,093 |
1,679,814,858 |
|
Other
Liabilities |
7,029,809,236 |
6,743,819,530 |
|
|
|
|
|
Total
Liabilities |
162,479,284,394 |
143,254,047,800 |
|
|
|
|
|
Capital/
Shareholder’s Equity |
|
|
|
Paid-Up Capital |
6,957,226,940 |
6,820,810,730 |
|
Statutory Reserve |
3,650,184,280 |
3,342,002,303 |
|
Other Reserve |
107,177,080 |
175,461,059 |
|
Retained Earnings |
1,548,179,202 |
1,574,941,692 |
|
Non-Controlling Interest |
24,314 |
24,098 |
|
Total
Shareholder’s Equity |
12,262,791,816 |
11,913,239,882 |
|
Total
Liabilities and Shareholder’s Equity |
174,742,076,210 |
155,167,287,682 |
|
Off-Balance
Sheet Items |
- |
- |
|
|
|
|
|
Contingent
Liabilities |
96,829,868,960 |
78,089,695,996 |
|
Acceptance and Endorsements |
14,482,431,790 |
12,904,751,385 |
|
Letters of Guarantee |
55,025,487,794 |
41,066,918,409 |
|
Irrevocable Letters Of Credit |
16,186,001,403 |
14,759,463,040 |
|
Bills For Collection |
11,135,947,973 |
9,358,563,162 |
|
Other Contingent Liabilities |
- |
- |
|
|
|
|
|
Other
Commitments |
- |
157,465,600 |
|
Documentary Credits And Short Term
Trade-Related Transactions |
- |
- |
|
Forward Assets Purchase And Forward
Deposits Placement |
- |
157,465,600 |
|
Spot And Forward Foreign Exchange
Contracts |
- |
- |
|
Undrawn Note Issuance And Revolving
Underwriting Facilities |
- |
- |
|
Undrawn Formal Standby Facilities, Credit
Lines and Other Commitments |
- |
- |
|
|
|
|
|
Total
Off-Balance Sheet Items Including Contingent Liabilities |
96,829,868,960 |
78,247,161,596 |
|
Consolidated Statement of Profit and Loss : |
||
|
|
Currency |
: BDT |
|
|
Denomination |
: 1 |
|
|
Financial Year
Ending |
: 30th September |
|
Financial Highlights |
01.01.2017~30.09.2017 |
01.01,2016~30.09.2016 |
|
Operating
Income |
|
|
|
Interest Income/Profit on Islamic
Investments |
8,964,669,754 |
7,552,453,748 |
|
Interest/Profit Paid on Deposits,
Borrowings, Etc. |
(6,114,372,252) |
(5,722,492,253) |
|
Net
Interest Income/ Net Profit On Investments |
2,850,297,502 |
1,829,961,495 |
|
|
|
|
|
Investment Income |
1,302,313,969 |
1,526,927,563 |
|
Commission, Exchange And Brokerage |
1,305,852,068 |
1,029,253,415 |
|
Other Operating Income |
407,129,933 |
340,249,535 |
|
|
3,015,295,970 |
2,896,430,513 |
|
Total
Operating Income (A) |
5,865,593,472 |
4,726,392,008 |
|
Operating Expenses |
|
|
|
Salary
And Allowances |
1,296,189,511 |
1,002,982,079 |
|
Rent, Taxes, Insurance, Electricity, Etc. |
938,077,682 |
904,485,277 |
|
Legal Expenses |
75,602,094 |
35,210,941 |
|
Postage, Stamps, Telecommunication, Etc. |
61,110,242 |
51,025,636 |
|
Stationary, Printing, Advertisement, Etc. |
288,461,414 |
299,078,524 |
|
Chief Executive’s Salary And Fees |
10,650,000 |
8,100,000 |
|
Directors’ Fees |
1,400,000 |
3,092,000 |
|
Auditors’ Fees |
7,500 |
214,500 |
|
Depreciation And Repair Of Bank’s Assets |
179,613,772 |
220,389,171 |
|
Other Expenses |
282,017,339 |
443,157,086 |
|
Total Operating Expenses (B) |
3,133,129,554 |
2,967,735,214 |
|
Profit
Before Provision (C=A-B) |
2,732,463,918 |
1,758,656,794 |
|
|
|
|
|
Specific Provision |
1,150,000,000 |
880,000,000 |
|
General Provision |
- |
- |
|
Total Provision (D) |
1,150,000,000 |
880,000,000 |
|
Profit Before Taxation (C-D) |
1,582,463,918 |
878,656,794 |
|
Provision For Taxation |
- |
- |
|
Current Tax |
920,00,000 |
489,284,654 |
|
Deferred
Tax Expense (Income) |
(437,453,068) |
(50,715,346) |
|
|
482,546,932 |
540,000,000 |
|
Profit
After Taxation |
1,099,916,986 |
338,656,794 |
|
Retained Earnings Brought Forward
(Restated) |
1,574,941,692 |
631,845,803 |
|
Profit Available For Appropriation |
2,674,858,678 |
970,502,597 |
|
Appropriations |
|
|
|
Statutory
Reserve |
308,181,977 |
181,290,402 |
|
Issue
of Bonus Share |
818,497,283 |
620,073,700 |
|
Non-Controlling
Interest |
216 |
(1,112) |
|
|
1,126,679,476 |
801,362,990 |
|
Retained
Earnings Carried Forward |
1,548,179,202 |
169,139,607 |
|
Earnings
Per Share (EPS) |
1.58 |
0.49 |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
||
|
Name of
The Group |
: |
N/A |
|
Subsidiary |
: |
Premier Bank Securities Ltd. Premier Money Transfer Company Limited |
|
Sister Concerns |
: |
N/A |
BANKING
|
|
|
|
Bank Name
|
: |
AB Bank Limited Southeast Bank
Limited Bank Asia Limited
Shahjalal Islami
Bank Limited First Security
Islamic Bank Limited Standard Bank
Limited - United Commercial
Bank Limited Sonali Bank
Limited Islami Bank
Bangladesh Limited Standard
Chartered Bank National Bank
Limited Mercantile Bank
Limited The City Bank
Limited |
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 Iqbal Centre (4th Floor), 42 Kemal Ataturk Avenue, Banani, Dhaka-1213,
Bangladesh. Is situated at a commercial area which is a well decorated modern
office. |
GENERAL COMMENTS |
|
The subject company is engaged in the activities of Banking. It is
reputed company in this line of business. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
|
BDT |
1 |
INR 0.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.