|
|
|
MIRA INFORM REPORT
|
Report No. : |
486864 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BANK OF NOVA SCOTIA |
|
|
|
|
India
Representative Office: |
Mittal Tower, B-Wing, Ground Floor, 210, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-66364200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.01.1900 |
|
|
|
|
FCRN : |
F00924 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 8394.130 Million |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN: |
27AAACB1536H2ZZ |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1536H |
|
|
|
|
Legal Form : |
Foreign Registered Bank Operating in India |
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|
|
|
Line of Business
: |
Banking
Activities. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Foreign Registered Bank incorporated in the year 1900. As per the financial of 2017, the subject has reported a decline in its
revenue as compared to the previous year and has incurred loss during the
year under the review. The overall financial position of the subject seems to be healthy
marked by strong capital structure. Business is active. Payments are reported to be slow but correct. In view of aforesaid, the subject can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 18.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-22-663621211)
LOCATIONS
|
Registered
Office : |
Located at |
|
|
|
|
India
Representative Office: |
Mittal Tower, B-Wing, Ground Floor, 210, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Tel. No.: |
91-22-66364200 |
|
Fax No.: |
91-22-22873125 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Overseas office: |
North America: Canada, Mexico,
United States |
|
|
Central & South
America: Belize, Brazil, Chile, Colombia, Costa Rica, El Salvador, Nicargua,
Panama, Peru, Uruguay, Venezuela |
|
|
|
|
|
Caribbean: Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bonaire, British Virgin Islands, Cayman islands, Cuba, Curacao, Dominica, Dominican Republic, Grenada, Haiti, Jamaica, Puerto Rico, St. Eustatius, St. kitts and Nevis, St. Maarten, St. Vincent and the Grenadines, Trinidad and Tobago, Trucks and Caicos, U.S Virgin islands |
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|
|
|
|
Europe &
Middle East: United Arab Emirates,
Egypt, Russia, Turkey, United Kingdom |
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|
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|
Branch Office: |
Located At:
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Aufreiter, Nora A. |
|
Designation : |
corporate director |
|
Address : |
65 Baby Point Crescent, Toronto, Ontario, Canada |
|
Date of Birth/Age : |
Nov 18, 1959 |
|
Date of Appointment : |
Aug 25, 2014 |
|
|
|
|
Name : |
Mr. Babatz, Guillermo E. |
|
Designation : |
Managing Director of Atik Capital, S.C. |
|
Address : |
Sierra Ventana 735, Col. Lomas de Chapultepec, Mexico City, Mexico |
|
Date of Birth/Age : |
Dec 11, 1968 |
|
Date of Appointment : |
Jan 28, 2014 |
|
|
|
|
Name : |
Mr. Bonham, Scott W.B. |
|
Designation : |
Corporate Director |
|
Address : |
46 Heather Drive, Atherton, California, U.S.A. |
|
Date of Birth/Age : |
May 30, 1961 |
|
Date of Appointment : |
Jan 25, 2016 |
|
|
|
|
Name : |
Mr. Dallara, Charles H. |
|
Designation : |
Executive Vice Chairman, Partners Group Holding AG |
|
Address : |
12196 Goldenchain Ct., Oak Hill, Virginia, U.S.A. |
|
Date of Birth/Age : |
Aug 25, 1948 |
|
Date of Appointment : |
Sep 23, 2013 |
|
|
|
|
Name : |
Mr. Fatt, William R. |
|
Designation : |
Corporate Director |
|
Address : |
129 Rochester Avenue, Toronto, Ontario, Canada |
|
Date of Birth/Age : |
Mar 11, 1951 |
|
Date of Appointment : |
Jan 27, 2015 |
|
|
|
|
Name : |
Mr. Macklem, R. Tiff |
|
Designation : |
Dean of Rotman School of Management, University of Toronto |
|
Address : |
430 Sackville Street, Toronto, Ontario, Canada |
|
Date of Birth/Age : |
Jun 4, 1961 |
|
Date of Appointment : |
Jun 22, 2015 |
|
|
|
|
Name : |
Mr. O’Neill, Thomas C. |
|
Designation : |
Chairman of The Bank of Nova Scotia |
|
Address : |
20 Burkebrook Place, PH 03, Toronto, Ontario, Canada |
|
Date of Birth/Age : |
Mar 20, 1945 |
|
Date of Appointment : |
May 26, 2008 |
|
|
|
|
Name : |
Mr. Pacheco, Eduardo |
|
Designation : |
CEO of Mercantil Colpatria S.A. |
|
Address : |
Carrera 4a 79-25 Apto 802, Bogota, Colombia |
|
Date of Birth/Age : |
Aug 4, 1952 |
|
Date of Appointment : |
Sep 25, 2015 |
|
|
|
|
Name : |
Mr. Porter, Brian J. |
|
Designation : |
President & CEO of The Bank of Nova Scotia |
|
Address : |
40 Oriole Road, Toronto, Ontario, Canada |
|
Date of Birth/Age : |
Feb 9, 1958 |
|
Date of Appointment : |
Apr 9, 2013 |
|
|
|
|
Name : |
Mr. Power, Una M. |
|
Designation : |
Corporate Director |
|
Address : |
4511 Coronation Dr. SW, Calgary, Alberta, Canada |
|
Date of Birth/Age : |
Oct 16, 1964 |
|
Date of Appointment : |
Apr 12, 2016 |
|
|
|
|
Name : |
Mr. Regent, Aaron W. |
|
Designation : |
Founding Partner of Magris Resources Inc |
|
Address : |
122 Forest Hill Road, Toronto, Ontario, Canada |
|
Date of Birth/Age : |
Apr 9, 2013 |
|
Date of Appointment : |
Jan 5, 1966 |
|
|
|
|
Name : |
Mr. Samarasekera, Indira V. |
|
Designation : |
Senior Advisor of Bennett Jones LLP |
|
Address : |
3016 West 24th Avenue, Vancouver, British Columbia, Canada |
|
Date of Birth/Age : |
Apr 11, 1952 |
|
Date of Appointment : |
May 26, 2008 |
|
|
|
|
Name : |
Mr. Segal, Susan L. |
|
Designation : |
President and CEO of Americas Society and Council of the Americas |
|
Address : |
333 E. 57th St., Apt 6A, New York, New York, U.S.A. |
|
Date of Birth/Age : |
Sep 10, 1952 |
|
Date of Appointment : |
Dec 2, 2011 |
|
|
|
|
Name : |
Mr. Thomas, Barbara S. |
|
Designation : |
Corporate Director |
|
Address : |
6 Belleview Blvd., Unit 207, Belleair, Florida, U.S.A. |
|
Date of Birth/Age : |
Nov 29, 1949 |
|
Date of Appointment : |
Sep 28, 2004 |
|
|
|
|
Name : |
Mr. Thomson, L. Scott |
|
Designation : |
President and CEO of Finning International Inc. |
|
Address : |
2379 Kings Avenue, West Vancouver, British Columbia, Canada |
|
Date of Birth/Age : |
Jan 30, 1970 |
|
Date of Appointment : |
Apr 12, 2016 |
|
|
|
|
Name : |
Mr. Michael David Penner |
|
Designation : |
Director |
The details of MC members as of March 31, 2017 and charges since the
close of previous financial year have been provided below.
|
Name : |
Mr. Sanjeev Mittal |
|
Designation : |
Managing Director And Country Head |
|
|
|
|
Name : |
Mr. Manmohan Singh |
|
Designation : |
Managing Director- Branch Banking |
|
|
|
|
Name : |
Mr. Johnson Lewis |
|
Designation : |
Managing Director Bullion Business |
|
|
|
|
Name : |
Mr. Ankit Sharma |
|
Designation : |
Director - Branch Banking New Delhi |
|
|
|
|
Name : |
Mr. Gurudas Pai |
|
Designation : |
Director - Branch Banking Mumbai |
|
|
|
|
Name : |
Mr. Manish Goel |
|
Designation : |
Director – Front Office, Mocatta |
|
|
|
|
Name : |
Mr. Ramanthan Iyer |
|
Designation : |
Director – Operations, Mocatta |
|
|
|
|
Name : |
Mr. R Kasinathan |
|
Designation : |
Director – Operations Branch |
|
|
|
|
Name : |
Mr. Rashee Agarwal |
|
Designation : |
Director – Front Office, Mocatta |
|
|
|
|
Name : |
Mr. Amit Kedia |
|
Designation : |
Senior Manager Global Transaction Banking |
|
|
|
|
Name : |
Mr. Sachindra Rai |
|
Designation : |
Senior Manager – Compliance |
|
|
|
|
Name : |
Mr. Vipul Gupta |
|
Designation : |
Senior Manager – Finance |
|
|
|
|
Name : |
Mr. Mitalee Chovatia |
|
Designation : |
Manager –Audit |
|
|
|
|
Name : |
Mr. Kaushal H |
|
Designation : |
Assitant Manager Systems |
|
|
|
|
Name : |
Mr. Usha Iyer |
|
Designation : |
Director – Forex/ Trasuary |
|
|
|
|
Name : |
Mr. Manik Tuli |
|
Designation : |
Associate Director – Money Markets |
|
|
|
|
Name : |
Mr. Easwara Rao |
|
Designation : |
Senior Manager – HR |
BUSINESS DETAILS
|
Line of Business : |
Banking
Activities. (Registered Activity) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
Not Divulged |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Capital and
Liabilities |
|
|
|
|
1.
Capital |
8394.130 |
8394.130 |
8394.130 |
|
2.
Reserves & Surplus |
8642.850 |
9690.885 |
9674.910 |
|
3.
Deposits |
41401.322 |
45162.579 |
49830.755 |
|
4.
Borrowing |
22596.680 |
43479.402 |
39695.702 |
|
5.
Other Liabilities and Provision |
5335.026 |
5879.115 |
3933.416 |
|
TOTAL |
86370.008 |
112606.111 |
111528.913 |
|
|
|
|
|
|
II. Assets |
|
|
|
|
1.
Cash and Balances with Reserve Bank of India |
2754.553 |
3788.496 |
377.983 |
|
2.
Balances with Banks and Money at call and Short
Notice |
591.470 |
3538.368 |
5315.456 |
|
3.
Investment |
34118.475 |
46731.821 |
34.891 |
|
4.
Advances |
40729.894 |
51237.938 |
61111.323 |
|
5.
Fixed Assets |
65.991 |
85.683 |
52.856 |
|
6.
Other Assets |
8109.625 |
7223.805 |
6384.288 |
|
TOTAL |
86370.008 |
112606.111 |
73276.797 |
|
|
|
|
|
|
Contingent Labilities |
288750.778 |
376723.152 |
354018.367 |
|
Bills for collection |
33359.224 |
17386.577 |
14248.427 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I. Income |
|
|
|
|
Interest Earned |
4702.242 |
6389.657 |
7578.881 |
|
Other Income |
1149.375 |
1072.674 |
2236.557 |
|
TOTAL |
5851.617 |
7462.331 |
9815.438 |
|
|
|
|
|
|
II. Expenditure |
|
|
|
|
Interest Expended |
3101.101 |
3790.696 |
4770.439 |
|
Interest Expended |
989.383 |
938.018 |
1223.829 |
|
Provisions and Contingences |
1876.923 |
1490.624 |
2185.146 |
|
TOTAL |
5967.407 |
6219.338 |
8179.414 |
|
|
|
|
|
|
III. Profit / (Loss) |
|
|
|
|
Net Profit / (Loss) for the year |
(115.790) |
1242.993 |
1636.024 |
|
Profit / (Loss) brought forward |
932.245 |
1227.018 |
2196.063 |
|
TOTAL |
816.455 |
2470.011 |
3832.087 |
|
|
|
|
|
|
IV.
Appropriation |
|
|
|
|
Transfer to statutory reserve |
-- |
310.748 |
409.006 |
|
Transfer to remittable surplus retained in India for CRAR |
-- |
-- |
-- |
|
Profit remitted to head office |
932.245 |
1227.018 |
2196.063 |
|
Balance carried over to balance sheet |
(115.790) |
932.245 |
1227.018 |
|
TOTAL |
816.422 |
2470.011 |
3832.087 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
8394.130 |
8394.130 |
8394.130 |
|
Reserves & Surplus |
9690.885 |
9690.885 |
8642.850 |
|
Net worth |
18085.015 |
18085.015 |
17036.980 |
|
|
|
|
|
|
Borrowings |
39695.702 |
43479.402 |
22596.680 |
|
Total borrowings |
39695.702 |
43479.402 |
22596.680 |
|
Debt/Equity ratio |
2.195 |
2.404 |
1.326 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
9815.438 |
7462.331 |
5851.617 |
|
|
|
(23.974) |
(21.585) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
9815.438 |
7462.331 |
5851.617 |
|
Profit/(Loss) |
3832.087 |
2470.011 |
816.455 |
|
|
39.04% |
33.10% |
13.95% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
Particular |
31.03.2017 |
31.03.2016 |
|
Assets |
|
|
|
Cash and deposits with financial
institutions |
$59,663 |
$46,344 |
|
Trading assets |
|
|
|
Securities |
78,652 |
87,287 |
|
Loans |
17,312 |
19,421 |
|
Other |
2,500 |
1,853 |
|
|
98,464 |
108,561 |
|
|
|
|
|
Financial instruments designated at fair
value through profit or loss |
13 |
221 |
|
securities purchased under resale agreements
and securities borrowed |
95,319 |
92,129 |
|
Derivative financial instruments |
35,364 |
41,657 |
|
Investments security |
69,269 |
72,919 |
|
Loans |
|
|
|
Residential mortgages |
236,916 |
222,888 |
|
Personal and credit cards |
103,331 |
99,502 |
|
Business and government |
168,449 |
162,400 |
|
|
508,696 |
484,790 |
|
Alliance for credit losses |
4,327 |
4,626 |
|
|
|
|
|
Other |
13,560 |
11,978 |
|
Customers liability under acceptances |
2,381 |
2,520 |
|
Property and equipments |
4,586 |
4,299 |
|
Investment in associates |
12,106 |
12,141 |
|
Goodwill and other intangible assets |
1,713 |
2,021 |
|
Deferred tax assets |
12,749 |
12,870 |
|
Other assets |
47,095 |
45,829 |
|
|
|
|
|
|
$ 915,273 |
$ 896,268 |
|
|
|
|
|
Liabilities |
|
|
|
Deposits |
|
|
|
Personal |
$ 200.030 |
$ 199,302 |
|
business and government |
384, 988 |
372,303 |
|
Financial institution |
40,349 |
40,272 |
|
|
625,367 |
611,877 |
|
|
|
|
|
Financial instruments designated at fair
value through profit or loss |
4,663 |
1,459 |
|
Other |
|
|
|
Acceptance |
13,560 |
11,978 |
|
Obligation related to securities sold short |
30,766 |
23,312 |
|
Derivative financial instruments |
34,200 |
42,387 |
|
Obligation related to securities sold short
under repurchased agreement and securities lent |
95,843 |
97,083 |
|
Subordinated debentures |
5,935 |
7,633 |
|
Other liabilities |
43,314 |
42,716 |
|
|
223,618 |
225,109 |
|
|
853,648 |
838,445 |
|
|
|
|
|
Equity |
|
|
|
Common equity |
|
|
|
Common shares |
15,644 |
15,513 |
|
Retained earnings |
38,117 |
34,752 |
|
Accumulated other compressive income (loss) |
1,577 |
2,240 |
|
Other reserves |
116 |
152 |
|
Total common equity |
55,454 |
52,657 |
|
Preference shares and other equity instruments |
4,579 |
3,594 |
|
|
|
|
|
Total equity attributable to equity holders of the bank |
60,033 |
56,251 |
|
Non- controlling interests in subsidiaries |
1,592 |
1,570 |
|
|
61,625 |
57,821 |
|
|
$ 915,273 |
$ 896,266 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
Revenue |
|
|
|
Interest income |
|
|
|
Loans |
$ 21,719 |
$ 20,419 |
|
Securities |
1,403 |
1,237 |
|
Securities purchased under resale agreements and securities borrowed |
283 |
158 |
|
Deposits with financial institutions |
522 |
394 |
|
|
23,927 |
22,208 |
|
|
|
|
|
Interest expense
|
|
|
|
Deposits |
7,878 |
6,793 |
|
Subordinated debentures |
226 |
232 |
|
Other |
788 |
891 |
|
|
8,892 |
7,916 |
|
Net Interest
income |
15,035 |
14,292 |
|
Non-interest
income |
|
|
|
Banking |
3,855 |
3.669 |
|
Wealth management |
3,318 |
3,282 |
|
Underwriting and other advisory |
598 |
594 |
|
Non-trading foreign exchange |
557 |
540 |
|
Trading revenue |
1,259 |
1,403 |
|
Net gain on sale of investment Securities |
380 |
534 |
|
Net income from investment in associated corporation |
407 |
414 |
|
Insurance underwriting income, net of claims |
626 |
603 |
|
Other |
1.120 |
1,019 |
|
|
12,120 |
12,058 |
|
Total revenue |
27,155 |
26,350 |
|
Provision for credit Losses |
2,249 |
2,412 |
|
|
24,906 |
23,938 |
|
|
|
|
|
Non- Interest
expenses |
|
|
|
Salaries and employee benefits |
7,375 |
7,025 |
|
Premises and technology |
2,436 |
2,238 |
|
Depreciation and amortization |
761 |
684 |
|
Communications |
437 |
442 |
|
Advertising and business development |
581 |
617 |
|
Professional |
775 |
693 |
|
Business and capital taxes |
423 |
403 |
|
Others |
1,842 |
2,438 |
|
|
14,630 |
14,540 |
|
Income before taxes |
10,276 |
9,398 |
|
Income tax expenses |
2,033 |
2,030 |
|
Net income |
$
8,243 |
$
7,368 |
|
Net income attributable to non-controlling interest in subsidiaries |
238 |
251 |
|
Net income attributable to equity holders of the bank |
$ 8,005 |
$ 7,117 |
|
Preferred shareholders and other equity instrument holders |
129 |
130 |
|
Common shareholders |
$ 7,876 |
$ 6,987 |
|
|
|
|
|
Earnings per common share (in dollars) |
|
|
|
Basic |
6.55 |
5.80 |
|
Diluted |
6.49 |
5.77 |
|
Divined paid per common share (in dollars) |
3.05 |
2.88 |
|
|
|
|
|
Net income |
$ 8,243 |
$ 7,368 |
|
Other comparative income (loss) |
|
|
|
Items that will be reclassified subsequently to net income |
|
|
|
Net change in unrealized foreign currency translation gains (losses) |
|
|
|
Net unrealized foreign currency translation gains (losses) |
(1,564) |
614 |
|
Net Gain (losses) on hedges of net investment in foreign operations income
tax expenses (benefit). |
404 |
(300) |
|
Net unrealized foreign currency translation gains (losses) |
(8) |
(3) |
|
Net gains (losses) on hedger of net investments in foreign operations |
107 |
(79) |
|
|
(1,259) |
396 |
|
|
|
|
|
Net change in unrealized gains (losses) on available-for-sale
securities |
|
|
|
Net unrealized gains (losses) on
available-for-sale securities |
(217) |
308 |
|
Reclassification of net (gains) losses to net income |
143 |
(549) |
|
Income tax expenses (benefit) |
|
|
|
Net unrealized gains (losses) on
available-for-sale securities |
(61) |
82 |
|
Reclassification of net (gains) losses to net income |
42 |
(151) |
|
|
(55) |
(172) |
|
|
|
|
|
Net change in gain (losses) on derivative instrument designated as
cash flow hedgers: |
|
|
|
Net gain (losses) on derivative
instrument designated as cash flow hedgers |
1,722 |
(7) |
|
Reclassification on net (gains) losses |
(1,761) |
357 |
|
Income tax expense (benefit): |
|
|
|
Net gain (losses) on derivative instrument designated as cash flow
hedgers |
454 |
9 |
|
Reclassification of net (gains) losses |
(465) |
83 |
|
|
(28) |
258 |
|
Other comprehensive income (loss) from investment in associates |
56 |
31 |
|
Items that will
not be reclassified subsequently to net income |
|
|
|
Net change in remesurtments of employee benefits plan asset and
liability |
|
|
|
Actuarial gains (losses) on employee benefits plans |
805 |
(972) |
|
Income tax expense (benefit) |
213 |
(256) |
|
|
592 |
(716) |
|
Net changed in fair value due to change in own credit risk on
financial liability designated under the fair value option: |
|
|
|
changed in fair value due to change in own credit risk on financial
liability designated under the fair value option: |
(28) |
(23) |
|
Income tax expenses (benefits) |
(7) |
(7) |
|
|
(21) |
(16) |
|
Other comparative income (loss) from investment in associates |
6 |
(10) |
|
Other comparative income (loss) |
(709) |
(229) |
|
Comparative income |
$ 7,534 |
$ 7,139 |
|
Comprehensive income attributable to non-controlling interests |
192 |
237 |
|
Comparative income attributable to equity holders of the bank |
$ 7,342 |
$ 6,902 |
|
Preferred shareholders and other equity instrument holders |
129 |
130 |
|
Common shareholders |
$ 7,213 |
$ 6,772 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.97 |
|
|
1 |
INR 88.12 |
|
Euro |
1 |
INR 78.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NKTS |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.