CRISL reaffirms Islami Bank's long term rating 'AA', short term rating 'ST-I'
FE Report | Wednesday, 2 July 2008
Credit Rating Information and Services Limited (CRISL) reaffirmed Islami Bank Bangladesh Limited (IBBL) long term rating 'AA' and short term rating 'ST-I'.
The rating was given on the basis of IBBL's branch network, strong market share, stable customer deposit base, diversified and innovative Shari'ah based product lines, experienced management team, own professional and competent cadre at each management level, contribution to the social responsibility, good financial performance, good asset quality, comfortable liquidity position and low cost of fund.
This was disclosed in a coordination meeting of the top executives of the bank.
Chaired by IBBL Managing Director M Fariduddin Ahmad, the meeting was attended, among others, by top executives of its head office, managers of corporate branches and heads of Dhaka north, south and central zones including deputy managing directors Mohammad Shamsul Haque, Mohammad Abdul Mannan and Md Habibur Rahman.
The meeting disclosed that the total deposit of the bank stood at Tk 182,295 million as on June 30, 2008 showing a growth rate of 22.96 per cent against the corresponding period of the previous year.
In the same period, the bank invested Tk 195,914 million with a growth rate of 33.70 per cent.
The bank handled foreign business of Tk 220,633 million showing a growth rate of 86 per cent against the corresponding period of the previous year.
The volume of import of the bank during the period was Tk 107,739 million registering a growth rate of 111 per cent, export was Tk 465,61 million registering a growth rate of 50 per cent and remittance was 66,333 million showing a growth rate of 82 per cent.
The IBBL managing director stressed upon reaching the doors of all stages of people for deposit.
He viewed that investment should be dispersed to all in the society instead of confining it among the few.
The MD stressed upon the creation of new and potential entrepreneurs.
The rating was given on the basis of IBBL's branch network, strong market share, stable customer deposit base, diversified and innovative Shari'ah based product lines, experienced management team, own professional and competent cadre at each management level, contribution to the social responsibility, good financial performance, good asset quality, comfortable liquidity position and low cost of fund.
This was disclosed in a coordination meeting of the top executives of the bank.
Chaired by IBBL Managing Director M Fariduddin Ahmad, the meeting was attended, among others, by top executives of its head office, managers of corporate branches and heads of Dhaka north, south and central zones including deputy managing directors Mohammad Shamsul Haque, Mohammad Abdul Mannan and Md Habibur Rahman.
The meeting disclosed that the total deposit of the bank stood at Tk 182,295 million as on June 30, 2008 showing a growth rate of 22.96 per cent against the corresponding period of the previous year.
In the same period, the bank invested Tk 195,914 million with a growth rate of 33.70 per cent.
The bank handled foreign business of Tk 220,633 million showing a growth rate of 86 per cent against the corresponding period of the previous year.
The volume of import of the bank during the period was Tk 107,739 million registering a growth rate of 111 per cent, export was Tk 465,61 million registering a growth rate of 50 per cent and remittance was 66,333 million showing a growth rate of 82 per cent.
The IBBL managing director stressed upon reaching the doors of all stages of people for deposit.
He viewed that investment should be dispersed to all in the society instead of confining it among the few.
The MD stressed upon the creation of new and potential entrepreneurs.