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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

490885

Report Date :

13.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

DHAKA BANK LTD

 

 

Registered Office :

71, Purana Paltan Lane, Dhaka-1000

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.09.2017

 

 

Date of Incorporation :

06.04.1995

 

 

Com. Reg. No.:

C-28146 

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Corporate & Retail Banking

 

 

No. of Employees :

1,668 

 

 

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 :

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

:

DHAKA BANK LTD

Head Office

:

71, Purana Paltan Lane, Dhaka-1000, Bangladesh

Tel No

:

88-02- 58314425-31, 58314624-8

Fax No

:

88-02-58314419

E-mail

:

info@dhakabank.com.bd

Website

:

www.dhakabankltd.com

Date/ Year of Incorporation

:

06.04.1995

Incorporation No.

:

C-28146 

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

 

 

Other Registry & Certification Details

 

Organization Name

:

Dhaka Chamber of Commerce & Industry

 

Membership No

:

N/A

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

Income/ (Loss)

31st Dec, 2016

BDT  5477835638

(Jan-16 To 30 Sep-16)

BDT 202191595861

BDT  1110006953

(Jan-16 To 30 Sep-16)

30th Sep, 2017

BDT  6746115022

(Jan-17 To 30 Sep-17)

BDT  227775982978

BDT  978984732

(Jan-17 To 30 Sep-17)

 

 

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Arham Masudul Huq

Designation

:

Company Secretary

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

71, Purana Paltan Lane, Dhaka-1000, Bangladesh

Tel No

:

88-02- 58314425-31, 58314624-8

Fax No

:

88-02-58314419

E-mail

:

info@dhakabank.com.bd

Website

:

www.dhakabankltd.com

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

32000

Sq. ft.

 

 

Type of Office :

  :       Commercial Area.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Registered Head Office:

 

 

 

Address

:

Biman Bhaban, 100, Motijheel C/A, Dhaka-1000, Bangladesh

Tel No

:

88-02-9554514, 9571006-10

Fax No

:

88-02-9556584

 

Total Branch:

 

 

 

Address

:

94

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

1,668

In Factory

:

N/A

In Branch

:

N/A

Total

:

1,668

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

 

Names of Shareholders

No. of Share

Country

Mr. Reshadur Rahman

23218731

Bangladesh.

Mrs. Rokshana Zaman

13771792

Bangladesh.

Mr. Altaf Hossain Sarker

19184490

Bangladesh.

Mr. Abdul Hai Sarker

15266351

Bangladesh.

Mr. Md. Amirullah

13759648

Bangladesh.

Mr. Abdullah Al Ahsan

13760832

Bangladesh.

Mr. Tahidul Hossain Chowdhury

13815697

Bangladesh.

Mr. Jashim Uddin

13759774

Bangladesh.

Mr. Mohammed Hanif

20953879

Bangladesh.

Mr. Khondoker Monir Uddin

19755585

Bangladesh.

Mr. Khondoker Jamil Uddin

13759583

Bangladesh.

Mr. Amanullah Sarker

13759651

Bangladesh.

Mr. Mirza Yasser Abbas

25335719

Bangladesh.

Mr. M.N.H. Bulu

13775765

Bangladesh.

General Public

488418223

Bangladesh.

 

 

DIRECTORS

 

1.      

 

 

 

Name

:

Mr. Reshadur Rahman

Designation

:

Chairman

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

2.      

 

 

 

Name

:

Mrs. Rokshana Zaman

Designation

:

Vice Chairperson

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

3.      

 

 

 

Name

:

Mr. Syed Mahbubur Rahman

Designation

:

Managing Director & CEO

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

4.      

 

 

 

Name

:

Mr. Abdul Hai Sarker

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

5.      

 

 

 

Name

:

Mr. Altaf Hossain Sarker

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

6.

 

 

 

Name

:

Mr. Mohammed Hanif

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

7.

 

 

 

Name

:

Mr. Md. Amirullah

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

8.

 

 

 

Name

:

Mr. Abdullah Al Ahsan

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

9.

 

 

 

Name

:

Mr. Khondoker Monir Uddin

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

10.

 

 

 

Name

:

Mr. Tahidul Hossain Chowdhury

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

11.

 

 

 

Name

:

Mr. Jashim Uddin

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

12.

 

 

 

Name

:

Mr. Khondoker Jamil Uddin

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

13.

 

 

 

Name

:

Mr. Mirza Yasser Abbas

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

14.

 

 

 

Name

:

Mr. Amanullah Sarker

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

15.

 

 

 

Name

:

Mr. M.N.H Bulu

Designation

:

Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

16.

 

 

 

Name

:

Mr. Syed Abu Naser Bukhtear Ahmed

Designation

:

Independent Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

17.

 

 

 

Name

:

Mr. M. A. Yussouf Khan

Designation

:

Independent Director

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

MANAGEMENT

 

Name

:

Mr. Syed Mahbubur Rahman

Job Description

:

Managing Director & CEO

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Khan Shahadat Hossain

Job Description

:

Deputy Managing Director (Risk Managment)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Md. Shakir Amin Chowdhury

Job Description

:

Deputy Managing Director (Operations)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Mohammad Abu Jafar

Job Description

:

Deputy Managing Director (Internal Business)

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

Name

:

Mr. Arham Masudul Huq

Job Description

:

Company Secretary

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Trader

 

Dealer

 

Corporate 

Ö

 

 

 

Exporter

 

Importer

 

Services

 

Retail Banking

Ö

 

Item dealing in:

 

Products

:

Corporate & Retail Banking

Production Capacity

:

N/A

Last Year Production

:

N/A

Import Products

:

N/A

Export Products

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

Selling Terms      :

L/C

 

Cash

Ö

Others

 

 

 

Credit :

Ö

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

:

ACNABIN

Chartered Accountants

Operation Status

:

Active

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 10000 Million

 

Paid-up Capital

:

BDT 7222957200

 

No. of Shares

:

722295720

 

Share Value

:

BDT 10.00 Each

 

Main Assets

:

BDT 227775982978 Million

 

 

 

FINANCIAL STATEMENT- DETAILED

 

Summary Information Given.

 

 

Balance Sheet :

 

  Currency

: BDT

 

       Denomination

: 1

 

         Financial Year Ending

:  30th Sep’2017

     Financial Highlights

30.09.2017

31.12.2016

 

 

 

Property And Assets

 

 

Cash

16078091658

16715649259

Cash in hand (including foreign currencies

2015477536

1797353255

Balance with Bangladesh Bank and its agent bank(s) (including foreign currencies)

14062614122

14918296004

Balance with other banks and financial

institutions

15785593687

11170526692

In Bangladesh

9533962057

8581752935

Outside Bangladesh

6251631630

2588773757

Money at call and on short notice

11300000

1051300000

Investments

24424290602

21305722760

Government

20784290602

18805722760

Others

3640000000

2500000000

Loans, advances and lease/investments

146825218653

134689308364

Loans, cash credits, overdrafts, etc./ Investments

144259359918

131563031001

Bills purchased and discounted

2565858735

3126277363

Fixed assets including premises, furniture and fixtures

4227495351

4193540105

Other assets

20400826994

13042382648

Non-banking assets

23166033

23166033

Total Assets

227775982978

202191595861

Liabilities & Capital

 

 

Liabilities

 

 

Borrowings from other banks, financial institutions and agents

23015322443

11296873150

Deposits and other accounts

166952913689

157161630521

Current accounts & other accounts

19494530189

21093467455

Bills payable

1846236069

2047637778

Savings bank deposits

19106632516

16735239732

Term deposits

126505514915

117285285556

Non-Convertible Subordinated Bond

3800000000

3800000000

Other liabilities

19272561163

15487366332

Total Liabilities

213040797295

187745870003

Capital/Shareholders' Equity

 

 

Total Shareholders’ Equity

14735185683

14445725858

Paid-up capital

7222957200

6879006860

Statutory reserve

6215559850

5850338780

0ther reserve

656966772

774110946

Retained earnings

639701861

942269273

Total Liabilities & Shareholders' Equity

227775982978

202191595861

Off-Balance Sheet Items

 

 

Contingent liabilities

89507401516

72926401097

Acceptances and endorsements

30675212542

25263660677

Letter of credit

20519349757

17447623500

Letter of guarantee

27669315286

19928711771

Bills for collection

9151042331

8250158750

0ther contingent liabilities

1492481600

2036246400

Other commitments

-

-

Documentary credit and short term trade-related transactions

-

-

Forward assets purchased and forward deposits placed

-

-

Undrawn note issuance and revolving underwriting facilities

-

-

Undrawn formal standby facilities, credit lines and other commitments

-

-

Total off-balance sheet items including contingent liabilities

89507401516

72926401097

 

 

Income Statement :

 

                                                                                               Currency

:

BDT

                                                                                     Denomination

:

1

                                                                         Financial Year Ending

:

30th Sep’2017

 

     Financial Highlights

Jan-17 to 30 Sep-17

Jan-16 to 30 Sep-16

Operating Income

 

 

Interest income/profit on investments

9829957019

9308031302

Interest paid/profit on deposits and borrowings, etc.

(7251585928)

(6818390830)

Net interest income

2578371090

2489640471

Investment income

2159939400

1848435772

Commission, exchange and brokerage

1853968220

972254487

0ther operating income

153836311

167504907

 

4167743932

2988195166

Total operating income (a)

6746115022

5477835638

Operating Expenses

 

 

Salary and allowances

1624761222

1263659760

Rent, taxes, insurance, electricity, etc.

455326426

376208171

Legal expenses

11044071

14886571

Postage, stamps, telecommunication, etc.

29645458

29740136

Stationery, printing, advertisement, etc.

100328318

111272020

Chief executive's salary and fees

11915000

10980000

Directors' fees

2408130

3373757

Auditors' fees

1035000

1035000

Depreciation and repairs of Bank's assets

261877430

246463188

Other expenses

457574925

332773752

Total operating expenses (b)

2955915979

2390392355

Profit before provision (c = (a-b))

3790199043

3087443282

Provision against loans and advances

1801854874

1096563953

Provision against good borrower

-

-

Provision for diminution in value of investments

-

-

Other provisions

162238817

130872377

Total provision (d)

1964093691

1227436329

Profit before taxation (c-d)

1826105352

1860006953

Provision for taxation

847120620

750000000

Current tax

843920620

747000000

Deferred Tax income

3200000

3000000

Net profit after taxation

978984732

1110006953

Appropriations

 

 

Statutory reserve

365221070

372001391

General reserve

(115519953)

(38192034)

Dividends etc.

1031851026

1000582816

Retained earnings

639701861

738005562

 

1921254005

2072397735

Earnings per Share (EPS)

1.36

1.54

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Name of  The Group

:

Nil

Name of Mother Company

:

Nil

Subsidiary

:

DBL Securities Limited

Sister Concerns

:

Nil

 

 

BANKING

 

 

Bank Name             

:

One Bank Ltd

AB Bank Ltd.

Bank Asia Ltd.

Brac Bank Ltd.

Exim Bank Ltd.

Prime Bank Ltd.

Eastern Bank Ltd.

Jamuna Bank Ltd.

National Bank Ltd.

Standard Bank Ltd.

The City Bank Ltd

Mercantile Bank Ltd.

First security Islami 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 71, Purana Paltan Lane, Dhaka-1000, Bangladesh. It’s Commercial Area.

 

 

GENERAL COMMENTS

The subject company is engaged in Corporate & Retail Banking. It is reputed company in this line of business.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.28

UK Pound

1

INR 89.02

Euro

1

INR 78.93

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.