Ratio Analysis of Dutch-Bangla Bank Ltd

Ratio analysis is a tool used by individuals to conduct a quantitative analysis of information in a

company's financial statements. Ratios are calculated from current year numbers and are then

compared to previous years, other companies, the industry, or even the economy to judge the

performance of the company. There are many ratios that can be calculated from the financial

statements pertaining to a company's performance, activity, financing and liquidity.

Since, ratio analysis is predominately used by proponents of fundamental analysis, that’s why I

have conducted ratio analysis to judge the performance of Dutch Bangla Bank Limited. Values

used in calculating financial ratios are taken from the balance sheet, income statement, statement

of cash flows or (sometimes called) the statement of retained earnings. These comprise the firm's

"accounting statements" or financial statements. The statements' data is based on the accounting

method and accounting standards used by the organization.

5.1.1 Liquidity Ratio:

The ratio that relates to liquid amount of a company earns from its asset and liabilities is called

liquidity ratio. Liquidity ratio measures the short term ability of the company to pay its maturing

obligation and to meet unexpected needs for cash. Short term creditors such as bankers and

suppliers are particularly interested in assessing liquidity.

Current Ratio:

The current ratio is widely used measure for evaluating a company’s liquidity and short term

debt paying ability. The Current ratio can give a sense of the efficiency of a company's operating

cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their

receivables or have long inventory turnover can run into liquidity problems because they are

unable to alleviate their obligations. Because business operations differ in each industry, it is

always more useful to compare companies within the same industry.

Formula:

Current Ratio = Current Asset / Current Liabilities

The ratio is mainly used to give an idea of the company's ability to pay back its short-term

liabilities (debt and payables) with its short-term assets (cash, inventory, receivables). The higher

the current ratio, the more capable the company is of paying its obligations. A ratio under 1

suggests that the company would be unable to pay off its obligations if they came due at that

point. While this shows the company is not in good financial health, it does not necessarily mean

that it will go bankrupt - as there are many ways to access financing - but it is definitely not a

good sign.

Current Ratio of DBBL over the Last 5 years

2009 2010 2011 2012 2013

0.44 0.53 0.58 1.02 1.09

2009 2010 2011 2012 2013

0.440.53 0.58

1.021.09

Current Ratio

In 2009 and in 2010, the current ratio was 0.44 and 0.53 respectively. From 2009 to 2010,

current ratio increased by 21% and from 2010 to 2011, the ratio increased by 9%. It happened

because current assets increased more than the current liabilities.

Since, last two year DBBL could maintain a current ratio of 1:1, so I can conclude that, the bank is in a

good liquidity position. However, in the last two years the ratio showed an upward trend,

indicating that the bank has reduced the amount of borrowings from Bangladesh Bank and started

paying bills, as much as possible, on time.

Finally, I would like to suggest that, the bank should try to minimize taking loans from Bangladesh Bank

and should invest more in short-term assets, like keeping balances with other banks and financial

institutions, investing more in treasury securities etc. to hedge itself against liquidity shortage.

Capacity Ratio:

The mirror image to the cash position is captured by the capacity ratio, which should be

understood as a negative liquidity indicator. It’s a negative liquidity indicator for the bank

because the loans and leases are often the most illiquid of the assets.

Formula:

Net Loan & Leases/Total Assets

Net loans & leases are defined as total loans & leases minus the accumulated loss allowance for

bad loans. The capacity ratio indicates the extent to which an institution has loaned out its funds.

The higher the capacity ratio, the lower is the institution's liquidity. Even at zero liquidity, the

capacity ratio will be less than 1, because of the necessary investment in fixed assets.

Capacity Ratio of DBBL over the Last 5 years

2009 2010 2011 2012 2013

0.58 0.65 0.63 0.59 0.68

2009 2010 2011 2012 2013

12

34

5

0.58

0.650000000000003

0.630000000000003

0.590.56

Capacity Ratio

The graph in the above shows that, over the last 5 years DBBL had a fluctuating trend in

capacity ratio. In 2013 the ratio increased to 15% due to 39% increase in net loans & leases as

opposed to only 24% increase in total assets. Net loans & leases increased mainly due to

increased loans, cash credits, overdrafts etc. and lower recovery of lease receivables.

Nevertheless, the optimism is that, in the last year the ratio declined at the rate of 3%, indicating

that the bank has reduced the amount of funds to be loaned out and thereby, trying to improve its

liquidity position. This action has been taken to restrict the private-sector credit flow as a part of

wait-and-see attitude adopted by the bank. Bangladesh Bank has also decided that banks shall

not provide any loan/credit facility for purchasing land in order to channel credit towards

productive areas. Therefore, banks are likely to remain cautious about lending to the private

sector, given the continued heavy demands from government and tightening by the Bangladesh

Bank.

5.1.2 Leverage Ratio:

Leverage ratios show the efficiency of managing debt. In general, the more debt a firm uses in

relation to its total assets, the greater its financial leverage. Financial leverage is the

magnification of risk and return introduced thorough the use of fixed cost financing, such as debt

and preferred stock. The more fixed cost debt a firm uses, the greater will be its expected risk

and return.

Debt Ratio:

Debt ratio is used to measure a company's financial risk by determining how much of the

company's assets have been financed by debt. The debt ratio is an indicator of financial leverage.

It tells the percentage of total assets that were financed by creditors, liabilities, debt.

Formula:

Debt Ratio = Total Debt / Total Assets

This expresses the relationship between the capital contributed by creditors and the total asset of

the company. This provides an indication of the ability of a company to meet creditor

obligations. The lower the ratio, the better financial condition the company is thought to be in. A

high ratio may signal a potential cash shortage and a low ratio company usually has greater

ability to borrow debt in the future.

Debt Ratio of DBBL over the Last 5 years

2009 2010 2011 2012 2013

0.947 0.93 0.93 0.93 0.925

2009 2010 2011 2012 2013

0.947

0.93 0.93 0.930.925

Debt Ratio of DBBL

In 2009-2010, the ratio decreased by 2%. This is because in the particular year, total debt

increased by 22%, whereas total asset increased by 24% respectively. However, from 2009-2010,

the ratio was same and thus, the change was 0%.

Overall DBBL’s total debt ratios exhibited a downward trend. The main reason behind this

declining trend is that, DBBL issued an industrial bond of Tk.500 million in 2009 only and then,

for the last two years, it had a gradual decrease in its subordinated debt. Moreover, during the

last four years, DBBL reduced the amount of its borrowings from other banks, financial

Institutions and agents.

Since, over the last five years DBBL had a declining trend in total debt ratios, so I would say

that, the bank is in a better financial condition as it can pay creditor obligations from its assets.

However, the flip side of the coin is that, the bank is not properly utilizing its debt capacity and

thus, forgoing the maximum tax benefit of interest payment.

Debt to Equity Ratio:

Debt to equity is a financial ratio indicating the relative proportion of shareholders' equity and

debt used to finance a company's assets. Closely related to leveraging, the ratio is also known as

Risk, Gearing or Leverage. The two components are often taken from the firm's balance sheet or

statement of financial position (so-called book value), but the ratio may also be calculated using

market values for both, if the company's debt and equity are publicly traded, or using a

combination of book value for debt and market value for equity financially.

The ratio measures how the company is leveraging its debt against the capital employed by its

owners. If the liabilities exceed the net worth then in that case the creditors have more stake than

the shareowners.

Formula:

Debt to Equity = Total Debt / Total Equity

This expresses the relationship between the capital contributed by creditors and the capital

contributed to a firm by owners. This provides an indication of the ability of a firm to meet

creditor obligations. The lower the ratio, the better financial condition the firm is thought to be

in. A high ratio may signal a potential cash shortage and a low ratio firm usually has greater

ability to borrow debt in the future.

Debt to Equity Ratio of DBBL over the Last 5 years

2009 2010 2011 2012 2013

34.8 20.2 15.1 11 23.6

2009 2010 2011 2012 2013

34.8

20.2

15.111

23.6

Debt to Equity

Over the 4 years (from 2009 to 2012), the company is having a downward trend in debt to equity

ratio. From 2009-2010 the ratio declined the most by 42%. During these four years, DBBL

reduced the amount of its borrowings from other banks, financial Institutions and agents.

Another reason for lower debt to equity ratios is that, the bank has raised capital by issuing

shares through initial public offering (IPO), which in turn resulted in increased amount of equity

capital. But in the current year the debt to equity capital increases significantly that means the

bank is following optimal debt-equity structure and thus, use the maximum tax benefit of interest

payment.

Interest Coverage:

A ratio used to determine how easily a company can pay interest on outstanding debt. For bond

holders, the interest coverage ratio is supposed to act as a safety gauge. It gives one a sense of

how far a company’s earnings can fall before it will start defaulting on its bond payments. For

stockholders, the interest coverage ratio is important because it gives a clear picture of the short-

term financial health of a business.

Formula:

Interest Coverage = EBIT/ Interest Charges

The lower the interest coverage ratio, the higher is the company's debt burden and the greater the

possibility of bankruptcy or default. When a company's interest coverage ratio is 1.5 or lower, its

ability to meet interest expenses may be questionable. Therefore, as a general rule of thumb,

investors should not own a stock that has an interest coverage ratio under 1.5.

Interest Coverage of DBBL over the Last 5 years

2009 2010 2011 2012 2013

0.55 1.08 0.91 0.74 0.45

2009 2010 2011 2012 2013

12

34

50.55

1.080.91

0.740000000000003

0.45Interest Coverage

The graph in the above shows that, over the last 4 years, DBBL had a downward trend in interest

coverage ratio. This is because during the 4-year period, DBBL’s earnings before interest and

expenses (EBIT) decreased, whereas interest charges increased, except for the year 2009.

In all the years, except in 2009, the company had a negative percentage change in interest

coverage ratio; so I can say that, the bank is facing debt and thus, it can meet its obligation to pay

interest on its debts.

Finally I would like to recommend the bank, to monitor and track the trends of its revenues over

time, or else it may face difficulties in generating the cash necessary to satisfy interest expenses.

Loan Deposit Ratio:

The loan to deposit ratio is used to calculate a lending institution's ability to cover withdrawals

made by its customers. A lending institution that accepts deposits must have a certain measure of

liquidity to maintain its normal daily operations. Loans given to its customers are mostly not

considered liquid meaning that they are investments over a longer period of time. Although a

bank will keep a certain level of mandatory reserves, they may also choose to keep a percentage

of their non-lending investing in short term securities to ensure that any monies needed can be

accessed in the short term. If the ratio is too high, it means that banks might not have enough

liquidity to cover any unforeseen fund requirements; if the ratio is too low, banks may not be

earning as much as they could be:

Formula:

Net Loans / Total Deposits

Net loans include: loans to banks or credit institutions; customer net loans; HP, lease or other

loans; mortgages; loans to group companies and associates and trust account lending. Total

deposits cover customer deposits, central bank deposits, banks and other credit institution

deposits and other deposits.

Loan Deposit Ratio of DBBL over the Last 5 years

2009 2010 2011 2012 2013

0.55 1.08 0.91 0.74 0.45

2009 2010 2011 2012 2013

71.4

81.379.1

73.1 73.3

Loan Deposit Ratio

Over the years we saw the ups and downs in the ratio. The standard of loan deposit ratio is 85%.

The loan deposit ratio of DBBL in 2009 and 2013 is 71.40% and 73.3%, which indicates that

DBBL is not in progressive but satisfactory.

5.1.3 Profitability Ratios:

Ratios that relate profits to sales and investment are called profitability ratios. Profitability ratios

are of two types-those showing profitability in relation to sales and those showing profitability in

relation to investment. Together, these ratios indicate the firm’s overall effectiveness of

operation.

Profitability ratios measure the income or operating success of a company for a given period of

time. Income, or the lack of it, affects the company’s ability to obtain debt and equity financing.

It also affects the company’s liquidity position and the company’s ability to grow. As a

consequence, both creditors and investors are interested in evaluating earning power-

profitability. Analysts frequently use profitability as the ultimate test of management’s operating

effectiveness.

Operating Profit Margin:

Operating Profit Margin is a ratio used to measure a company's pricing strategy and operating

efficiency. It is expressed as a percentage of sales and shows the efficiency of a company

controlling the costs and expenses associated with business operations. Phrased more simply, it

is a measurement of what proportion of a company's revenue is left over after paying for variable

costs. A healthy operating margin is required for a company to be able to pay for its fixed costs,

such as interest on debt.

Formula:

Operating Profit Margin = Operating Profit / Sales

Operating margin gives analysts an idea of how much a company makes (before interest and

taxes) on each dollar of sales. If a company's margin is increasing, it is earning more per dollar

of sales. The higher the margin, the better is the operating performance of the company. A higher

operating profit margin means that a company has lower fixed cost and a better gross margin or

increasing sales faster than costs, which gives management more flexibility in determining

prices. It also provides useful information for investors to determine the quality of a company

when looking at the trend in operating margin over time and to compare with industry peers.

Operating Profit Margin of DBBL over the Last 5 years

2009 2010 2011 2012 20130%5%

10%15%20%25%30%35%40%45%

30%

40%34%

29%23%

Operating Profit Margin

From 2009-2010, DBBL’s operating profit margin increased by 10%. However, from 2010 to

2013, the ratio drastically was decreasing due to the highly increased investment and other

operating income as opposed to net interest income.

On an average, DBBL’s operating profit margin showed a declining trend. The reason behind

this declining trend is that, operating profit could not increase as much as sales or net interest

income. Operating profit decreased due to lower investment income, especially caused by

reduced gains from investment securities and foreign currencies. In 2011, gains from investment

securities were severely hampered due to sharp decline in Stock Market, attributed to lack of

confidence and liquidity pressure. At the same time, European debt crises along with slower than

expected economic recovery in USA adversely impacted gains from dealing in foreign

currencies.

2009 2010 2011 2012 2013

30% 40% 34% 29% 23%

Similarly, increased variable costs caused by highly increased salary and allowances, rent, taxes,

insurance & electricity expenses, depreciation & repair of bank's assets and other expenses are

also liable for the lower operating profit margin. The increase in variable costs was the ultimate

result of Double Digit Inflation persisted throughout the year 2011 to 2013.

In all the years, except in 2010, DBBL had a negative percentage change in operating profit

margin; so I can say that, the bank’s operating performance is not satisfactory. This lower margin

indicates that, the bank is not solvent enough to pay for its fixed costs, like interest on debt. This

is because the bank is left with lower proportion of revenue after paying for its variable costs.

Finally, I would like to recommend the bank to make proper investment decisions and avoid

invest in highly volatile Stock Market unless it become stable. I would also suggest the bank to

efficiently handle its Debit and Credit Card expenses, ATM and Tele Banking expenses and

other expenses associated with business operations. If the bank monitors and tracks the trends of

its operating margin over time, it will surely be able to generate sufficient revenues from its

operations to satisfy operating as well as fixed costs.

Return on Average Assets (ROA):

Return on average assets (ROA) is an indicator of how profitable a company is relative to its

total assets. ROA gives an idea as to how efficient management is at using its assets to generate

earnings. The higher the ROA number, the better, because the company is earning more money

on less investment.

Formula:

ROA = Net Profit After Taxes/ Average Total Assets

ROA for public companies can vary substantially and will be highly dependent on the industry.

This is why when using ROA as a comparative measure, it is best to compare it against a

company's previous ROA numbers or the ROA of a similar company. 

ROA of DBBL over the Last 5 years

2009 2010 2011 2012 2013

1.6% 2.2% 1.9% 1.7% 1.2%

2009 2010 2011 2012 20130.0%

0.5%

1.0%

1.5%

2.0%

2.5%

1.6%

2.2%1.9%

1.7%

1.2%

Return on Average Assets

The graph shows that, in the year of 2009-10, DBBL had an upward trend in ROA. The reason

behind this positive trend is during the specified time period, net profit after taxes increased more

than the average total assets.

However, over the last 4 years, DBBL had a downward trend in ROA .This is because, in that

particular period average total assets increased more than the net profit after taxes. Average total

assets increased mainly because of increase in current deposit accounts with local banks & fixed

deposit accounts with other financial institutions, money at call and short notice, loans &

advances, fixed and other assets.

In all the years DBBL achieved an ROA greater than or equal to 1.0. Therefore, I can conclude

that the bank is earning more money on less investment. In other words, the management

is efficient at using its invested capital (assets) to generate earnings. So, I would recommend the

bank to keep up the good performance in the coming years. Again, the management should

concentrate on declining ROA and try to increase total assets of the bank.

Return on Average Equity (ROE):

The amount of net income returned as a percentage of shareholders equity is called return on net

worth or return on equity (ROE).  The ROE is useful for comparing the profitability of a

company to that of other firms in the same industry.

ROE = Net Profit After Taxes /Average Total Equity

Return on equity measures a corporation's profitability by revealing how much profit a company

generates with the money shareholders have invested. A high return on equity often reflects the

firm’s acceptance of strong investment opportunities and effective expense management.

However, if the firm has chosen to employ a level of debt that is high by industry standards, a

high ROE might simply be the result of assuming excessive financial risk.

ROE of DBBL over the Last 5 years

2009 2010 2011 2012 2013

30.% 35.3% 27% 23.4% 17%

2009 2010 2011 2012 2013

0.00%

10.00%

20.00%

30.00%

40.00%

Return on Average Equity

The graph shows that, over the last 4 years, DBBL had a downward trend in ROE. The reason

behind this negative trend is during the specified time period, net profit after taxes increased

more than the average total equity.

Therefore, I can conclude that DBBL is earning less profit with the money shareholders have

invested and thus, the bank is not profitable enough relative to its average total equity. So, I

would recommend the bank to hold back the upward trend of its profitability in the coming

years.

Return on Investment (ROI):

A performance measure used to evaluate the efficiency of an investment or to compare the

efficiency of a number of different investments. A high ROI means the investment gains

compare favorably to investment cost. As a performance measure, ROI is used to evaluate the

efficiency of an investment or to compare the efficiency of a number of different investments. To

calculate ROJ, the benefit (return) of an investment is divided by the cost of the investment; the

result is expressed as a percentage or a ratio.

The return on investment formula:

Gain from investment – cost of investment) / cost of investment

ROI of DBBL over the Last 5 years

2009 2010 2011 2012 2013

10.8% 11.6% 10.9% 12.2% 10.8%

2009 2010 2011 2012 2013

14.6

12.210.9 11.6

10.8

Return on Investment (ROI)

In ROI of DBBL, it is analyzed that ratio is almost equal in every year that the bank is in

constant level which indicates that DBBL is making progress and arrange their investment

decision in effective way. It earns the highest margin in 2009 which is 14.6% and lowest margin

in 2013 which is 10.8. Although, DBBLs return on investment had a negative growth rate in

2010, 201 1 & 2013 but DBBL recover it in 2012. Return on investment increased mainly due to

higher investments portfolio in 2012.

5.1.4 Capital Ratios:

There are a host of ratios that bank regulators and investors use to assess how risky a bank's

balance sheet is, and the degree to which the bank is vulnerable to an unexpected increase in bad

loans. A bank's Tier 1 capital ratio takes a bank's equity capital and disclosed reserves and

divides it by the bank's risk-weighted assets, (assets whose value is reduced by certain statutory

amounts, based upon its perceived riskiness).

The capital adequacy ratio is the sum of Tier 1 and Tier 2 capital, divided by the sum of risk-

weighted assets. The tangible equity ratio takes the bank's equity, subtracts intangible assets,

goodwill and preferred stock equity, and then divides it by the bank's tangible assets. Although

not an especially popular ratio prior to the 2007/2008 credit crisis, it does offer a good measure

of the degree of loss a bank can withstand, before wiping out shareholder equity.

Capital ratios can be thought of as proxies for a bank's margin of error. Nowadays, capital ratios

also play a larger role in determining whether regulators will sign off on acquisitions and

dividend payments.

Capital Adequacy Ratio (CAR):

Capital adequacy ratio is a measure of a bank's capital. It is expressed as a percentage of a bank's

risk weighted credit exposures. This ratio is used to protect depositors and promote the stability

and efficiency of financial systems around the world.

In this ratio two types of capital are measured: tier one capital ( above), which can absorb

losses without a bank being required to cease trading, e.g. ordinary share capital and tier two

capital ( above), which can absorb losses in the event of a winding-up and so provides a lesser

degree of protection to depositors, e.g. subordinated debt.

Capital Adequacy Ratio = Capital Base (Tier 1 Capital + Tier 2 Capital / Risk Weighted Assets

The ratio ensures that the banks do not expand their business without having adequate capital.

CAR below the minimum statutory level indicates that the bank is not adequately capitalized to

expand its operations. Hence, banking regulators in most countries define and monitor CAR to

protect depositors, thereby maintaining confidence in the banking system.

Capital Adequacy Ratio of DBBL over the Last 5 years

2009 2010 2011 2012 2013

11.6% 9.6% 11.2% 12.0% 13.7%

The graph in the above shows

that, over the last 5 years DBBL

had an upward trend in

CAR. From 2009 to 2010, the

ratio decreased at the

rate of 17%, whereas from 2010

to 2011 the ratio increased at

the rate of 16%. Then in 2010,

the ratio increased by 7%

and after that, in the

following year it rose by 14%.

In 2010, the ratio declined the most at the rate of 17% because, in that year total risk weighted

assets (RWA) increased more than the total capital. RWA rose especially because of credit risk.

In contrast, total capital decreased mainly due to no change in share premium and no addition in

exchange equalization reserve.

Nevertheless, the optimism is that, in the last year the ratio increased the most at the rate of 14%.

DBBL's Capital Adequacy Ratio (CAR) under Basel II significantly increased to 13.7% from

12% of previous year, against the minimum regulatory requirement of 10.0% for 2013. This has

been possible mainly because of lower exposure to credit and market risk and increase in

DBBL’s statutory reserve, dividend equalization account, revaluation reserve of HTM securities,

proposed dividend and retained earnings.

In all the years, the bank has been able to maintain CAR above the minimum capital requirement by

Bangladesh Bank. This signifies that, DBBL is committed to maintain a strong capital base to

support business growth, comply with all regulatory requirements, obtain good credit rating and

CAMELS rating and to have a cushion to absorb any unforeseen shock arising from credit,

operational and market risks.

2009 2010 2011 2012 2013

1 2 3 4 5

11.60%9.60%

11.20% 12.00%

13.70%Capital Adequacy Ratio

So, from my analysis I can conclude that, the bank is able to handle losses and fulfill its obligations

to account holders without ceasing operations. In other words, DBBL is adequately capitalized to

protect the greater interest of depositors and shareholders, and expand its operations.

5.1.5 Efficiency Ratio:

A bank's efficiency ratio is essentially equivalent to a regular company's operating margin, in

that it measures how much the bank pays on operating expenses, like marketing and salaries. By

and large, lower is better.

Cost to Income Ratio (CIR):

Cost to Income ratio is an efficiency measure similar to operating margin. It’s a measure of

operating efficiency and expense control. It indicates the percentage of operating revenue after

the operating expense is deducted.

Formula:

Cost to Income Ratio = Operating Expenses / Total Operating Income

The Cost to Income ratio is most commonly used in the financial sector. It is useful to measure

how costs are changing compared to income. A high or rising efficiency ratio means that the

company is losing a larger share of its income to overhead expenses. So, the lower the efficiency

ratio, the better the position of the company.

CIR of DBBL over the Last 5 years

2009 2010 2011 2012 2013

44.1% 41.4% 47.4% 53.9% 63.9%

2009 2010 2011 2012 2013

0.00%

20.00%

40.00%

60.00%

80.00%

Cost to Income Ratio (CIR)

The graph in the above shows that, over the last 4 years DBBL had a upward trend in Cost to

Income Ratio (CIR). The reason behind this upward trend is, in the last 4-year period, total

operating income increased tremendously by 117% compared to 134% increase in operating

expenses. Total operating income rose mainly due to increase in net interest income,

commission, exchange & brokerage and other operating income. On the other hand, operating

expenses rise due to higher legal expenses and directors’ fees.

Total operating income decreased due to lower investment income, especially caused by reduced

gains from investment securities and foreign currencies. From 2011, gains from investment

securities were severely hampered due to sharp decline in Stock Market, attributed to lack of

confidence and liquidity pressure. At the same time, European debt crises along with slower than

expected economic recovery in USA adversely impacted gains from dealing in foreign

currencies.

Similarly, increased operating expenses caused by highly increased salary and allowances, rent,

taxes, insurance & electricity expenses, depreciation & repair of bank's assets and other expenses

are also liable for the lower CIR.

In all the years, except in 2009, DBBL had a upward trend in CIR; so I can say that, the bank can

not handle its operating expenses efficiently.

Finally, I would like to recommend the bank to make proper investment decisions and avoid

invest in highly volatile Stock Market, so that investment income can be boost up. I would also

suggest the bank to efficiently handle its Debit and Credit Card expenses, ATM and Tele

Banking expenses and other expenses associated with business operations. This will surely help

the bank to increase its operating efficiency to a greater extent.