Assignment On Mercantile Bank Limited Annual News for the year ended 31st December, 2009 Topics are to be discussed hither (Context) 01. Missive to Transmittal 02. Attend-to of 11th Annual General Meeting 03. Mission, Vision & Objectives 04. MBL Timeverse 05. Credit Rating 06. Sponsors of the Bank 07. Consideration of Directors 08. Urbane Organization 09. Skill Team 10. Head Station & Branch Network 11. Whither We Locate 12. Financial Summary 13. Economic Collision News 14. Intimation from the Chairman 15. From the Desk of Managing Directors and CEO 16. Directors’ News 17. Managing Directors and CEO’s News on Betray Skill 18.
Report on Urbane Governance 19. Compliance News on SEC Notice 20. News of Audit Committee 21. News on Urbane Social Function 22. News on Customer Employment 23. News on Human Excellent 24. Remembrance 25. Signing of Financial Statements 26. Auditors’ News 27. Financial Statements 28. Notes to the Financial Statements 29. Annexure A-G 30. Highlights of Mercantile Bank Limited 1. Missive to Transmittal: Hither the Executive Vice President and Association Secretary wrote a missive to all portion-outholders informing the momentous items of the Annual Report.
Such as Balance Sheet, Income Statement, Cash Flow Announcement of the year. 2. Attend-to of 11th Annual General Meeting: In the attend-to the continuance, year, day, span and assign of the AGM distinctly (in daring missive) picturesque. Momentous Agenda to-boot represented in the attend-to. Thither are 5 Agenda are declarationed. In union 6 footer Notes to-boot published hither. Momentous notes are annals continuance of the portion-out (March 07, 2010), equality of dividend (22%) etc. Executive Vice President and Association Secretary grant his verification delay continuance. 3. Vision, Mission & Objectives: The Vision of the tail is pershape finest urbane whole.
Mission is making the pershape useful by caring, reasonable harvest by required and fit disposal of recourses. Strategic Objectives: to objective Economic Rate Added, communicate plainor in consequence alteration, end require competency, be in the top five financial whole in Bangladesh. Financial Objectives: to end solid (? 20%) repay on portion-outholders’ equity. Morebalance Centre rate for Customers, Shareholders, Employees and Community 4. MBL Timeline: Hither the harvest of Mercantile Bank Limited certain. It launched disconnection in occupation and commercialization in 1999. Circulated Primary Portion-out (IPO) in 2003.
Got catalogueed in twain Bangladesh Stock Exchanges (Dhaka & Chittagong) in 2004 and end of year 2009 it has 50 braches all balance the dominion. 5. Credit Rating: As per Credit Rating and knowledge Services Limited (CRISL), Mercantile Bank Limited rated as “A” (Pronounced as Single A) in the desire expression and ST-2 rating in the less expression on the recital of Financial Statements as on December 31, 2008. High confidence of spanly cancelments, stanch liquidity factors, good-natured-natured association fundamentals, indulgent extravagance to excellent communicate and minimal betray factors are the key issues of the rating. 6. Sponsors of the Bank:
Here the 27 sponsors’ spectrys delay photos are representing distinctly. 7. Consideration of Directors: 22 Directors’ spectry and photo delay their appellation certain hither. Thither are 1 Chairman, 2 Vice Chairmen and 18 Directors and 1 Managing Director and CEO in the Bank managing committee. 8. Urbane Structure: In Urbane Organization thither are 8 unanalogous legislation organization represented. Including Consideration of Directors (22 herd), Executive Committee (18 herd), Audit Committee (3 herd), Managing Director & CEO (1 individual), Chief Financial Officer (1 individual), Association Secretary (1 individual), Auditors (2 herd) and Tax Advisor (1 individual). . Skill Team: Hither the component catalogue of unanalogous managing committee individually represented delay their appellation. Thither are 10 categories of appellation. Such as Managing Director & CEO, Additional Managing Director, chief, Deputy Managing Director, Senior Executive Vice Presidents, Executive Vice Presidents, Senior Vice Presidents, Vice Presidents, Foremost Vice Presidents and Assistant Vice Presidents. 10. Head Station & Branch Network: Subordinate this appellation the components addresses of bank’s all 50 banking branches, SME braches and Brokerage House delay Phone, Mobile and Fax enumerate grantn. 1. Whither We Locate: Hither the map of Bangladesh grantn and all 53 (3 SME/Agro Branches) branches noboard by association’s logo subordinate purlieus skilled. 12. Financial Summary: Subordinate Financial Summary Company’s ultimate 5 years Net Interest Margin (NIM), Improvement behind Tax, Repay on Possessions (ROA), Require Income Ratio, Repay on Equity (ROE), Operating Competency Ratio and in the ultimate 8 years approximate association’s Income Statement, Balance Sheet, Extraneous Exchange Business, BIS Excellent Measure, Credit Quality, Portion-out Information, Operating Accomplishment Ratio and Other Knowledge represented. 3. Economic Collision Report: Hither Economic Collision picturesque in two ways; Plain Collision and Inplain Impact. Plain Collision are encroachment opportunities, cancelment of tax to the legislation, augmentation rate to the Shareholders. Inplain Collision created by catering financial employments, Bank generated plenty in the husbanding and correctment for itself which is still reserved unarrangedst the portion-outholders and other participants in unanalogous shape. In 2009, aggregate rate adventitious by MBL was BDT 2,559. 96 (millions) and plain subscription to the husbanding was BDT 855. 26 (millions).
Thither are two rate adventitious announcements (Economic and Market) showed by post chart. A pie chart showed for disposal of Rate Union (culmination for legislation tax 33. 4%). Bank adventitious BDT 129. 5 (million) subordinate Economic Rate Union and BDT 4229. 48 (million) subordinate Communicate Rate Addition. 14. Intimation from the Chairman: At the foremost of the intimation the Chairman invited Shareholders to the 11th Annual General Meeting. Thither are some subjects the Chairman discussed briefly. Those are: World Husbanding in 2009: hither the collision of sub-prime mortgages landslip discussed.
Bangladesh Husbanding in 2009: hither the blessing of harvest Bangladesh husbanding in the point year certain. Accomplishment of the Bank in 2009: hither the objective equality of bank’s deposits assembly, mortgage and grade, significance occupation, ship-produce occupation and extraneous allowance picturesque. Diversified Occupation Activities of the Bank: subordinate this minority the components disembodiment of bank represented hither. Such as Deposits, Mortgage and Advances, Significance & Ship-produce Occupation and Inward Extraneous Remittance. SME: hither bank’s SME organization picturesque.
Card Business: hither bank’s unanalogous card occupation represented. Such as Credit card, Debit Card, VISA dual prepaid card, VISA Dual Hajj Card. Picturesque it’s features and employments. Urbane Governance Practice: hither the responsibilities and activities of Consideration of Directors to the occupation action represented. CSR Programs: hither the guideverse of skill of the bank informs the consideration on CSR activities and is legal to appliance a restricted verse of laudatory instance, moderate and monitoring for financial deeptenance of such activities.
Customer Service: hither the Chairman draw how the bank server to the customer for end foremost customer remuneration. Human Resources Development: hither the advancement and intensives to the employees represented for their preferable accomplishment. Remembrance and Award: hither the unanalogous endments and rewards certain that in 2009 the bank gets drastic out the year. Future Outlook: hither the challenges and opportunities for the bank in upcoming years picturesque drasticly. Challenges in 2010: hither the economic movables on the bank in year 2010 is represented.
Such as global downturn, slower harvest of ship-produces and workers’ allowance etc. Acknowledgement: hither the Chairman grants his enrich you notes and committed a solid harvest of tail whither portion-outholder can rely on. 15. From the Desk of Managing Directors and CEO: Hither the CEO draws the banks’ top in the year 2009. He to-boot represented Bank’s accomplishment during the year 2009, its prospects and possible challenges in 2010. Such as Objective Growth: A Step Further: describing hither the harvest of the bank during the year. Prospects in 2010: he draw the opening, trust for the bank in upcoming year.
Reviewing Our Occupation in 2009: hither the occupation action during the year certain distinctly. Possessions and Liabilities Position, International Business, MBL’s Products and Services, MBL’s Card Business, Agro-Based Financing, SME Financing, Our Priorities, Operation, Customer Relationship, Technology, Human Excellent Development, Urbane Social Responsibilities (CSR), MBL Brokerage House, Mobile Banking, Commitment to Government, Base I-II Excellent Accord, Anti Money Laundering, Network Expansion, Challenges in 2010, Our Preparation and Acknowledgement are the deep subjects he discussed. 6. Directors’ Report: The accommodation of the Director’s News are World Economy, Bangladesh Husbanding (GDP, Inflation, Investment and Saving, Broad Money, Domestic
Credit, Export, Import, Trade Balance, Remittance, Extraneous Exchange Market, Prospect of Bangladesh Husbanding in 2010), Occupation Reconsideration (Deposit and Deposit Mix, Mortgage and Advance, Significance Trade, Ship-produce Trade, Extraneous Remittance, Treasury Action and Fund Management, Earning Base in Assets, Asset Portfolio, Funding Structure, Capital, Statutory Reserve, Excellent Adequacy, Enumerate of Shareholders, Subscription to National Exchequer and Economy, Acquisition of IDLC Share, Purchase of Land, Branch Network, Consideration of Directors, Consideration and Committee Meeting, Urbane and Financial Reporting, External Auditors, Correspondence Relationship , R&D, Knowledge Technology, Financial Products and Services, Unanalogous Deposit Products, Unanalogous Mortgage Products), Financial Reconsideration (Different Improvement Incomes, Unanalogous Expenses, Unanalogous Tax, Dividend, EPS, O/E Ratio), Outlook 2010 and Acknowledgement are represented hither. Behind that it recurrent in Bengali Language. 17. Managing Directors and CEO’s News on Betray Management: Hither rouse delay basic argument on Betray Management. Such as Betray Skill Realities, Approach, Oversight, Arrangement etc. And following draw unanalogous types of Betray Skill picturesque delay photo and tree board.
Such as Credit Betray Management, Communicate Betray Management, Interest Rate Betray Management, Extraneous Exchange Betray Management, Operational Betray Management, Internal Moderate and Compliance Betray Management, Equity Betray Management, Money Laundering Betray Management, Knowledge Technology Betray Management, Liquidity Betray Management, Marketing Cognate Betray Management, Human Resource Cognate Betray Skill etc. 18. News on Urbane Governance: At foremost unanalogous spectrys of Urbane Governance delay function and business in the bank represented. Such as Consideration Of Directors, Board’s Supporting Committee, Skill Committee, Moderate Environment Committee.
Each of aggregate committee are introduceed delay meetings photo. 19. Compliance News on SEC Notification: It is the notice issued by The Security and Exchange Commission for all catalogueed companies in direct to correct Urbane Governance on ‘Comply or Explain’ recital. Thither are three boards. Foremost is Complied or Not Complied board. Only 3 rules are not complied by the bank unarranged 43 rules which are subordinate reconsideration. In promote board the enumerates delay spectrys of Directors attained Consideration Meeting during the year. And the ultimate one is The Patter of Shareholding whither shows the nos. and percentage of portion-outs dwell by Directors. 20. News of Audit Committee: Hither the spectry of Auditor delay photo introduceed.
And to-boot some other subjects such as conformation of the Audit Committee, Role of the Audit Committee, Internal Control, Meetings, Financial Reporting, Internal Audit and Inspection, External Audit, Regulatory Compliance and Miscellaneous issues grantn hither. 21. News on Urbane Social Responsibility: Hither the roles and responsibilities of the bank inside company picturesque. In this minority a board shows how fur the bank contributed their correctment to the company. The foremost abatement went to soundness sector. MBL has slogan to be the “Banglar Bank”. MBL has grantn unanalogous grants to unanalogous sectors. Photos and arenas are declarationed hither. 22. News on Customer Service: The significanceance of customer to the bank is introduceed hither. Some centre demands of customer are fulfilling by the tail.
Such as Bringing Mass and More herd into the Banking net, Addressing Unique Needs of the Customers, Meeting Demand of Customers through Alternative Banking Channels, Response from the Herd etc. 23. News on Human Capital: In this subject the arrangement of giving employment in movablesive fashion the tail took some steps such as Nursing the Herd delay Utmost Care, Recruiting the Best Herd (bonus, advancement, remembrance, grafting etc), Managing the herd, Accomplishment from the Herd etc. 24. Recognition: An grant giving ceremony’s (ICAB Award-2008) photo grantn hither. 25. Signing of Financial Statements: Hither a photograph of Directors represented whither they all introduce thither for signing Financial Statements – 2009. 26. Auditors’ Report: At foremost Auditors professed those elements that they audited.
Such as Balance Sheet, Improvement and Loss recital, Cash Flow Statement, Announcement of Changes in Equity, Statements of Liquidity Separation and Explanatory notes to Financial Statements. To-boot declaration their responsibilities. In the auditor’s news they apprehend Scope, Opinion (14 opinions), Auditors Immovable Names, Auditor Signatures, Auditor Designation, Assign and Date. 27. Financial Statements: In the Financial Statements thither are 7 part of it. At foremost thither is Balance Sheet (Classified Announcement of all types of Possessions and Liabilities), then Off-Balance Sheet Items (Contingent Liabilities and Other Commitments), Improvement and Loss Recital (Include all types of Incomes and Expenses, Provisions, Appropriations etc. , Cash Flow Announcement (Net Cash Inflow and Outflow annalsed hither), Announcement of Changes in Equity (Capital gain/reserve and losses/dividend), Liquidity Announcement (possessions and liabilities manliness separation), Notes to the Financial Statements (details of financial announcement such as calculations, chiefs, disclosures etc). 28. Annexure A-G: In Annexure A all cognate asset’s slander mandible adapted hither, Annexure B picturesque enumerate of portion-outs dwell by Directors delay their positions, Annexure C represented unanalogous Investment in Shares during the year. Annexure D certain communicate structure of general Securities HTM and HFT portion-outs. Annexure E declarationed manliness separation of other possessions (relish as graded deposits, stamps in influence etc. , Annexure F represented Compliance of BAS and BFRS (unarranged 29 BAS 6 are not applied and unarranged 4 BFRS none are applied), Annexure G contribute Computation of Risk- Weighted Possessions catalogue. 29. Highlights of Mercantile Bank Limited: Hither all essential knowledge insides the investors are introduceed hither, such as paid-up excellent, aggregate possessions, aggregate deposits, ROA, ROI, EPS, NI per portion-out, P/E Ratio etc. 30. Proxy Form: It is the contact printed and contributed by the immovable to portion-outholders inclose of his deficiency, portion-outholder can grant voting capability to his nominated individual. Need to swell up the gaps and add income stamps and cast to the instance anteriorly point continuance. It has two accommodation, one for station and other for portion-outholder. -------------END--------------