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The following Rating of the IIDFC has published by National Credit Rating Limited (ncr), followed Financial Institutions Rating Methodology (Bank & NBFI) of NCR and published in the website:www.ncrbd.com

Ratings are based on Audited Financial Statement up to 31st December 2016 along with the other relevant Quantitative as well as Qualitative information provided by the Client up to date of Rating Declaration.
SURVEILLANCE ENTITY RATING - 2017
Date of Rating Declaration Long Term Short Term
03.07.2017 AA (Double A) ST-2
Validity For one year from the date of rating declaration. For Six months from the date of rating declaration.
Outlook Stable
SURVEILLANCE ENTITY RATING - 2016
Date of Rating Declaration Long Term Short Term
29.06.2016 AA (Double A) ST-2
RATING RATIONALE
NCR has reaffirmed the previous entity ratings of Industrial and Infrastructure Development Finance Company Limited based upon improved business performance marked by increase in gross loan and advances, net income, ROA and ROE, properly maintained capital adequacy ratio, provisions for nonperforming loans & negative equity margin loans and provision against diminution in value of investment. The ratings also draw strengths from qualitative factors such as good track record of governing body and management team with affluent experience and rich educational background and adequacy of framework, policies and guidelines for risk management, internal control, credit approval, maintenance of regulatory requirements etc. The ratings are, however, constrained by increase in non-performing loan, decline in interest based income and deterioration in other performance indicators which include decrease in CAR, NIM, Asset Yield and Spread. Moreover, the occurrence of capital loss against the investment made in securities and no progress in recovery of the loan disbursed to the subsidiary companies also restrained the ratings. The ratings also take into consideration low interest rate environment and economic expansionary policies taken by the government. NCR, in the view of the company’s recent operational performance and current economic position, considers the outlook of the company as ‘Stable’ indicating that the existing fundamentals may remain unchanged in near future.
ASSESSMENT
The shareholders’ equity of the company on consolidated basis increased to TK 1,648.75 million in 2016 against TK 1,522.77 million in 2015 including Non-controlling Interest of TK 148,079 and TK 145,408 in 2016 and 2015 respectively.

The total eligible capital on solo basis was reported TK 1,746.88 million that included Core Capital (Tier-I) of TK 1,623.67 million and Supplementary Capital (Tier-II) of TK 123.21 million in 2016, representing a capital surplus of TK 341.37 million. Finally the CAR was posted 12.43%.

The consolidated gross lease and advances of IIDFCL increased to TK 16,441.24 million in 2016 from TK 12,966.39 million in 2015. The gross lease and advances of IIDFCL on solo basis increased to TK 14,553.89 million in 2016 from TK 10,893.58 million in 2015.

The Non-Performing lease and advances of IIDFCL on solo basis increased to TK 688.01 million in 2016 from TK 521.43 million in 2015. IIDFCL on solo basis maintained provision of TK 377.19 million in 2016 against required provision for loans and advances was TK 356.26 million for the year 2016.

The Net Interest Income on consolidated basis decreased to TK 333.87 million in 2016 from TK 442.79 million in 2015. The total net revenue on consolidated basis increased to TK 618.38 million in 2016 from TK 533.30 million in 2015. IIDFCL evidenced a consolidated net profit of TK 225.99 million in 2016 against TK 119.67 million in 2015. ROE and ROA went up to 14.25% and 1.26% in 2016 respectively from 7.91% and 0.77% in 2015 respectively. The intermediation efficiency slightly impaired during the year 2016 as the net interest margins (NIM) declined to 1.98% in 2016 from 3.03% in 2015.

IIDFCL on solo basis generated total net revenue of TK 487.99 million in 2016, which was TK 394.57 million in 2015. The net profit on solo basis was reported to TK 159.27 million in 2016 against TK 110.63 million in 2015.

IIDFCL maintained positive gap from 1-3 months maturity to above one year maturity bucket but had a negative gap in up to 3-months maturity bucket in 2016. The company maintained TK 193.57 million of Cash Reserve Requirement (CRR) against the required reserve of TK 156.60 million in 2016. IIDFCL also maintained Statutory Liquidity Reserve (SLR) of TK 397.59 million against the required reserve of TK 347.12 million in 2016.

The consolidated deposit increased to TK 12,598.60 million in 2016 from TK 9,320.70 million in 2015. The consolidated borrowing went down to TK 2,273.08 million in 2016 from TK 3,538.38 in 2015. The deposit of IIDFCL increased to TK 12,572.52 million in 2016 from TK 9,319.02 million in 2015. The borrowings of IIDFCL went down and stood at TK 2,250.06 million in 2016 from TK 3,384.52 million in 2015.
PROFILE
Industrial and Infrastructure Development Finance Company Limited (hereinafter called as ‘IIDFCL’ or ‘The Company’) was incorporated on December 19, 2000 as a Public Limited Company and commenced commercial operation on April 1, 2001. IIDFCL offers various products and services namely Finance and Investment product, Deposit Schemes, Advisory Services, Carbon Finance, Brokerage Services and Merchant Banking.

The Registered and Corporate Head Office is located at Chamber Building (6th & 7th floor), 122-124 Motijheel C/A, Dhaka - 1000. IIDFCL operates with three Branch Offices located at Dhaka and Chittagong. IIDFCL has two subsidiary companies namely IIDFC Securities Limited and IIDFC Capital Limited.
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