MIRA INFORM REPORT

Report No. :	490897
Report Date :	12.02.2018

IDENTIFICATION DETAILS

Name :	THE FARMERS BANK LIMITED
Registered Office :	Lotus Kamal Tower-2 (Lavel-3), 59-61, Gulshan South Avenue, Gulshan-1, Dhaka-1212
Country :	Bangladesh
Date of Incorporation :	11.04.2013
Com. Reg. No.:	C-108483
Legal Form :	Public (But Not Listed)
Line of Business :	Commercial Banking Services
No. of Employees :	1000

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

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

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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

Source : CIA

IDENTIFICATION DETAILS
Correct company Name	:	THE FARMERS BANK LIMITED
Head Office	:	Lotus Kamal Tower-2 (Lavel-3), 59-61, Gulshan South Avenue, Gulshan-1, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9850627, 9886035, 9858066-70
Fax No	:	88-02-9850626
E-mail	:	info@farmersbankbd.com
Website	:	www.farmersbankbd.com
Date/ Year of Incorporation	:	11.04.2013
Incorporation No.	:	C-108483
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/ (Loss)
30^th June’ 2017	BDT 2112.19 Million	BDT 58986.94 Million	BDT 229.102 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Delowar Hossain
Designation	:	Executive Vice President
Contract No	:	N/A

Locations Details
Operating Address	:	Lotus Kamal Tower-2 (Lavel-3), 59-61, Gulshan South Avenue, Gulshan-1, Dhaka-1212, Bangladesh.
Tel No	:	88-02-9850627, 9886035, 9858066-70
Fax No	:	88-02-9850626
E-mail	:	info@farmersbankbd.com
Website	:	www.farmersbankbd.com

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: 33
Employee:
No. of Employees	In Office	:	1000	In Factory	:	Nil
	In Branch:	:	Nil	Total	:	1000

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	Country
Dr. Mohd. Athar Uddin	20000000	Bangladesh.
Mr. Md. Mahabubul Haque Chisty (Babul Chisty)	20000000	Bangladesh.
Mr. Azmat Rahman	20000000	Bangladesh.
Mr. Hafizur Rahman Sarker	29010000	Bangladesh.
Mr. Mohammad Masud	17000000	Bangladesh.
Ms. Nafisa Kamal	20000000	Bangladesh.
Mr. Maruf Alam	12000000	Bangladesh.
Ms. Tazneen Aman	10000000	Bangladesh.
Mr. Md. Shahabuddin	20000000	Bangladesh.
Mr. Md. Abu Alam	20000000	Bangladesh.
Mr. Sayeed Ahmed	9500000	Bangladesh.
Mr. Md. Sharif Chowdhury	13000000	Bangladesh.
Mr. Abdur Razzaque Khan	8000000	Bangladesh.
Mr. Md. Rafiqule Islam	10000000	Bangladesh.
Mr. Chowdhury Nafeez Sarafat	20000000	Bangladesh.
Mr. Hasan Taher Imam	8000000	Bangladesh.
Ms. Sitara Alamgir	1500000	Bangladesh.
Dr. Muhiuddin Khan Alamgir	20500000	Bangladesh.
Investment Corporation of Bangladesh	22500000	Bangladesh.
First Janata Bank Mutual Fund	5000000	Bangladesh.
Popular Life First Mutual Fund	2000000	Bangladesh.
EBL First Mutual Fund	3500000	Bangladesh.
IFIC Bank First Mutual Fund	4500000	Bangladesh.
PHP First Mutual Fund	2000000	Bangladesh.
EBL NRB Mutual Fund	5000000	Bangladesh.
AB Bank Mutual Fund	5000000	Bangladesh.
Tamam Design Ltd.	8000000	Bangladesh.
Dr. Muntassir Uddin Khan Mamoon	1000000	Bangladesh.
Mr. Rashedul Haque Chisty	3000000	Bangladesh.
Mrs. Shabnam Ahmed	2000000	Bangladesh.
Mr. Mohammad Amanullah	1000000	Bangladesh.
Mr. Md. Golam Rasul	1000000	Bangladesh.
Ms. Nilufar Nazma Alam	1050000	Bangladesh.
Dr. Nadim Aftab Jahangir	1000000	Bangladesh.
Mr. Siddique Nazmul Alam	1000000	Bangladesh.
Ms. Anjuman Ara Shahid	2000000	Bangladesh.
Mr. Swadesh Ranjan Roy	1000000	Bangladesh.
Ms. Kamrun Naher	1000000	Bangladesh.
Mr. Mohammad Hafizur Rahman Khan	2000000	Bangladesh.
Mr. Mohammad Mahmudur Rahman Khan	1000000	Bangladesh.
Mr. Mohammad Imtiazur Rahman Khan	1000000	Bangladesh.
Investment Corporation of Bangladesh Unit Fund	22500000	Bangladesh.
Mr. Md. Amzad Hossain Chowdhury	3050000	Bangladesh.
Mr. Nayeem Chowdhury	10000000	Bangladesh.
Eng. Md. Mehedi Hasan	10000000	Bangladesh.
Ms Doyal Akter	1000000	Bangladesh.

DIRECTORS
1.
Name	:	Mr. Md. Mahabubul Haque Chisty (Babul Chisty)
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
2.
Name	:	Mr. A.K.M. Shameem
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
3.
Name	:	Dr. Mohd. Athar Uddin
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
4.
Name	:	Mr. Azmat Rahman
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
5.
Name	:	Mr. Hafizur Rahman Sarker
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

6.
Name	:	Mr. Mohammad Masud
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

7.
Name	:	Ms. Nafisa Kamal
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

8.
Name	:	Mr. Maruf Alam
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

9.
Name	:	Ms. Tazneen Aman
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

10.
Name	:	Mr. Md. Shahabuddin
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

11.
Name	:	Mr. Md. Abu Alam
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

12.
Name	:	Mr. Sayeed Ahmed
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

13.
Name	:	Mr. Md. Sharif Chowdhury
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

14.
Name	:	Mr. Abdur Razzaque Khan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

15.
Name	:	Mr. Md. Rafiqule Islam
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

16.
Name	:	Mr. Chowdhury Nafeez Sarafat
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

17.
Name	:	Mr. Hasan Taher Imam
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

18.
Name	:	Dr. Muhiuddin Khan Alamgir
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

19.
Name	:	Eng. Md. Mehedi Hasan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Mr. A.K.M. Shameem
Job Description	:	Managing Director
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Faisal Ahsan Chowdhury
Job Description	:	Senior Executive Vice President (Head Office)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Delowar Hossain
Job Description	:	Executive Vice President
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS
Nature of Activity :	Commercial Banking Services	Ö	Trader	Dealer	Distributor
	Exporter		Importer	Services	Others

Item dealing In:
Products	:	Banking service
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(Country)			:	N/A
		Imports(Country)			:	N/A
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	N/A
Operation Status			:	Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 15000 Million
Paid-up Capital	:	BDT 4016100000
No. of Shares	:	401610000
Share Value	:	BDT 10.00 Each
Main Assets	:	BDT 58986.94 Million

FINANCIAL STATEMENT- DETAILED

SC has submitted their financial summary information to local registry office

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	Nil
Subsidiary	:	Nil
Name of The Group	:	Nil

BANKING
Bank Name	:	AB Bank Ltd. IFIC Bank Ltd. Trust Bank Ltd. Janata Bank Ltd. Eastern 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 at Lotus Kamal Tower-2 (Lavel-3), 59-61, Gulshan South Avenue, Gulshan-1, Dhaka-1212, Bangladesh. It is situated at a commercial office building.

GENERAL COMMENTS

The subject company is engaged in Commercial Banking Services. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
BDT	1	INR 0.78

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)

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.