MIRA INFORM REPORT

Report No. :	490894
Report Date :	13.02.2018

IDENTIFICATION DETAILS

Name :	NATIONAL CREDIT AND COMMERCE BANK LTD.

Registered Office :	13/1-13/2, Toyenbee Circular Road Motijheel Commercial Area, Dhaka-1000

Country :	Bangladesh

Financials (as on) :	30.09.2017

Date of Incorporation :	18.11.1985

Com. Reg. No.:	C-15011

Legal Form :	Public Listed Company

Line of Business :	Banking Corporation.

No. of Employees :	1865

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

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

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS
Correct company Name	:	National Credit and Commerce Bank Ltd.
Head Office	:	13/1-13/2, Toyenbee Circular Road Motijheel Commercial Area, Dhaka-1000, Bangladesh.
Tel No	:	880-2-9561902-4, 9566283, 9563981-3
Fax No	:	880-2-9566290
E-mail	:	info@nccbank.com.bd, nccblit@siriusbb.com, nccbl@bdmail.net
Website	:	www.nccbank.com.bd
Date/ Year of Incorporation	:	18.11.1985
Incorporation No.	:	C-15011
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

30^th September’2016

BDT 5148002109

(01 Jan To 30^th Sep’2016)

BDT 172706232835

BDT 941264296

(01 Jan To 30^thSep’2016)

30^th September’2017

BDT 6137332804

(01 Jan To 30^th Sep’2017)

BDT 192438706124

BDT 1102828607

(01 Jan To 30^th Sep’2017)

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Joynul Abedin
Designation	:	Executive Vice President
Contract No	:	N/A

Locations Details
Operating Address	:	13/1-13/2, Toyenbee Circular Road Motijheel Commercial Area, Dhaka-1000, Bangladesh.
Tel No	:	880-2-9561902-4, 9566283, 9563981-3
Fax No	:	880-2-9566290
E-mail	:	info@nccbank.com.bd, nccblit@siriusbb.com, nccbl@bdmail.net
Website	:	www.nccbank.com.bd

Location :

: Owned

Rented

Leased

Area

80, 000

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	:	N/A
Tel No	:	N/A
Fax No	:	N/A

Branch:

No. of	:	87 Branches.

Employee:

No. of Employees	In Office	:	1865	In Factory	:	N/A
	In Branch:	:	N/A	Total	:	1865
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share	Country
Mr. Abdus Salam	18557753	Bangladesh.
Mr. A. S. M. Main Uddin Monem	17669257	Bangladesh.
Mr. Md. Abdul Awal	18566625	Bangladesh.
Mr. Amjadul Ferdous Chowdhury	17680444	Bangladesh.
Mr. S. M. Abu Mohsin	17789128	Bangladesh.
Mr. Yakub Ali	17666512	Bangladesh.
Mr. Alhaj Md. Nurul Newz	18043901	Bangladesh.
Mrs. Sohela Hossain	17715472	Bangladesh.
Mr. Md. Abdul Basher	18568275	Bangladesh.
Mr. Md. Harunur Rashid	20016314	Bangladesh.
Mr. Khairul Alam Alam Chaklader	33172058	Bangladesh.
Mr. Md. Moinuddin	23007683	Bangladesh.
General Public	644764581	Bangladesh.

DIRECTORS

Name	:	Mr. Alhaj Md. Nurul Newz
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mrs. Sohela Hossain
Designation	:	Vice Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Mosleh Uddin Ahmed
Designation	:	Managing Director & CEO
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



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



Name	:	Mr. Yakub Ali
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

6.

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

7.

Name	:	Mr. S.M. Abu Mohsin
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

8.

Name	:	Mr. Abdul Monem
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

9.

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

10.

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

11.

Name	:	Mr. Mohammed Sazzad Un Newaz
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

12.

Name	:	Md. Amirul Islam, FCA,FCS
Designation	:	Independent Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

13.

Name	:	Mr. K.A.M Haroon
Designation	:	Independent Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT

Name	:	Mr. Mosleh Uddin Ahmed
Job Description	:	Managing Director & CEO
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Khondoker Nayeemul Kabir
Job Description	:	Deputy Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Fazlur Rahman
Job Description	:	Deputy Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Abu Zafore Md. Saleh
Job Description	:	Deputy Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Habibur Rahman
Job Description	:	Deputy Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

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

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

Name	:	Mr. Fariduddin Al Mahmud
Job Description	:	Sr. Executive Vice President
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Muhammad H. Kafi
Job Description	:	Sr. Executive Vice President
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Banking Corporation.	Ö	Trader	Dealer	Distributor

	Exporter		Importer	Services	Others

Item Dealings In:

Products	:	Banking Corporation.
Production Capacity	:	N/A
Last Year Production	:	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		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			:	Acnabin Chartered Accountants BDBL Bhaban (Level-13 & 14), 12, Kawran Bazar Commercial Area, Dhaka-1215, Bangladesh
Operation Status			:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 1000 Million

Paid-up Capital	:	BDT 8832180030

No. of Shares	:	883218003

Share Value	:	BDT10.00Each

Main Assets	:	BDT 192438706124 Million

FINANCIAL STATEMENT- DETAILED

The subject company don’t submit update financial figure to local registry office.

Balance Sheet :
	Currency	BDT
	Denomination	: 1
	Financial Year Ending	: 30^th Sep’2017
Financial Highlights	30^th September 2017	31^stDecember 2016
PROPERTYANDASSETS
Cash	12,309,748,670	10,446,766,212
In hand (including foreign currencies)	1,683,294,267	1,336,085,062
Balance with Bangladesh Bank and its agent bank (s) (including foreign currencies)	10,626,454,403	9,110,681,150
Balance with other banks and financial institutions	2,014,956,981	4,945,063,641
In Bangladesh	1,680,147,065	4,573,736,592
Outside Bangladesh	334,809,916	371,327,049
Money at call and short notice	-	-
Investments	27,168,201,793	23,958,163,884
Government	25,283,149,916	21,253,372,092
Others	1,885,051,877	2,704,791,792
Loans and advances	141,924,848,966	126,003,479,329
Loans, cash credits, overdrafts, etc.	135,866,805,193	121,594,172,870
Bills purchased & discounted	6,058,043,773	4,409,306,459
Fixed assets including premises, furnitures and fixtures	2,466,796,913	2,500,129,703
Other assets	6,554,152,801	4,852,630,066
Non-banking assets	-	-
TOTAL ASSETS	192,438,706,124	172,706,232,835
LIABILITIESANDCAPITAL
Liabilities
Borrowings from other banks, financial institutions and agents	9,327,074,456	6,726,399,870
Deposits and other accounts	150,371,854,437	132,764,872,600
Current deposits and other accounts	14,665,203,420	13,865,186,763
Bills payable	3,529,053,390	5,101,703,331
Savings bank deposits	20,261,415,958	18,732,883,987
Fixed deposits	57,256,766,956	50,135,024,925
Term deposits	54,659,414,713	44,930,073,594
Other liabilities	16,504,782,408	16,672,764,149
TOTALLIABILITIES	176,203,711,301	156,164,036,619
Shareholders' equity
Paid up capital	8,832,180,030	8,832,180,030
Statutory reserve	6,409,884,413	5,927,548,654
General reserve	10,162,348	10,162,348
Other reserve including assets revaluation reserve	355,666,142	355,441,831
Foreign currency translation gain/(Ioss)	1,828,449	399,963
Surplus in profit and loss account	625,273,441	1,416,463,390
TOTALSHAREHOLDERS'EQUI	16,234,994,823	16,542,196,216
TOTALLIABILITIESANDSHAREHOLDERSE'QUITY	192,438,706,124	172,706,232,835
Contingent liabilities
Acceptances and endorsements	18,797,197,184	12,268,815,139
Letters of guarantee	23,082,530,301	17,877,420,213
Letters of credit issued	15,913,220,789	11,183,881,376
Bills for collection	47,213,304	10,160,692
Other commitments
Claims against the bank not acknowledged as debt	-	-
Capital commitments	-	-
Export development fund (EDF)	-	-
TOTAL OFF BALANCE SHEETS ITEMS	57,840,161,579	41,340,277,420

Income Statement :

Currency		:	BDT
Denomination		:	1
Financial Year Ending		:	30^th Sep’2017

Financial Highlights	01 Jan To 30^th Sep’2017			01 Jan To 30^th Sep’2016
Interest income	9,209,831,425			8,225,816,268
Less: Interest paid on deposits and borrowings	5,873,780,439			5,470,636,83
Net interest income	3,336,050,986			2,755,179,438
Income from investments	1,467,849,758			1,500,952,725
Commission, exchange and brokerage	1,019,129,076			629,250,093
Other operating income	314,302,984			262,619,853
Total operating income	6,137,332,804			5,148,002,109
Salary and allowances	1,756,922,160			1,401,102,628
Rent, taxes, insurance, electricity etc	264,039,904			237,821,021
Legal expenses	12,678,932			11,614,223
Postage, stamp, telecommunication etc.	16,956,117			19,019,262
Stationery, printing, advertisement etc.	44,554,534			52,549,062
Managing Director's salary and allowances	4,458,061			6,000,000
Director's fees & other meeting related expense	3,643,189			2,752,000
Auditors' fee	258,750			258,750
Charges on loan losses	2,423,306			-
Repairs, maintenance, amortization and depreciation	286,317,631			305,958,036
Other expenses	188,809,486			158,042,329
Total operating expense	2,581,062,070			2,195,117,311
Profit before provisions	3,556,270,734			2,952,884,798
Provision for loans and advances	1081811 434			845977 289
Specific provision	997,024,627			825,229,172
General provision	84786807			20748117
Provision for off-balance sheet exposures	164,998,842			60,370,196
Provision for offshore banking unit	20,436,917			7,399,275
Provision for investment fluctuation in shares	(140,697,525)			(29,267,015)
Provision for other assets	3,742,267			6,040,401
Provision for nostro accounts	(5,700,000)			-
Total provisions	1,124,591,935			890,520,146
Profit after provision	2,431,678,799			2,062,364,652
Contribution to NCC Bank's CSR Fund	20,000,000			17,000,000
Profit before tax	2,411,678,799			2,045,364,652
Provision for tax	1308850192			1104100356
Current. tax	1,264,535,341			1,133,706,898
Deferred tax	44314851			(29606542)
Profit after tax	1,102,828,607			941,264,296
Balance of profit brought forward	3,314,585			39,833,159
Total profitavailable for distribution	1,106,143,192			981,097,455
Appropriations:
Statutory reserve	482,335,760			409,072,930
General reserve	-			-
	482,335,760			409,072,930
Retained earnings	623,807,432			572,024,525
Earnings per share	1.25			1.07

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Sister Concerns

Nil

Subsidiary

NCCB Securities & Finances Ltd.

NCCB Capital Ltd.

NCCB Exchange (UK) Ltd.

Name of The Group

N/A

BANKING

Bank Name

Sonali Bank Ltd.

ICB Islamic Bank Ltd.

Janata Bank Ltd.

IFIC Bank Ltd.

Uttara Bank Ltd.

Islami Bank Bangladesh Ltd.

Pubali Bank Ltd.

Commercial Bank of Ceylon.

United Commercial Bank Ltd.

National Bank Ltd.

The Trust Bank Ltd.

Standard Chartered Bank.

Dutch Bangla Bank Ltd.

Agrani Bank Ltd.

Rupali Bank Ltd.

EXIM Bank Ltd.

Southeast 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 7-8 Motijheel Commercial Area, Dhaka-1000, Bangladesh. The subject Company Secretary Mr. A. K. M. Nurul Islam

given us all information. Is situated at commercial area which is a well decorated modern office.

GENERAL COMMENTS

The subject company is a well-known reputed Bank in Bangladesh. Their popular popular to the local customers. So day by day the subject companies increase their goodwill.

As well as its financial condition, we recommend that Credit can proceed with favorable terms Large amount.

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 0.77

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV

Report Prepared by :	SYL

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.