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DOMESTIC BANKING GROUP
STANDARD CREDIT PROPOSAL
Date:
18/12/2025
DCR Number:
DCR2025120056451
Relationship Officer Name:
John Doe
MODULE A
R New
☐ Limit Changes
☐ Annual Review &Renewal
☐ Amendment
☐ Extension no
☐ For Info
Name of Borrower
ABC Automotive Pvt. Ltd.
Legal Entity
Name of Group
Car Dealers Unit
Limited Liability
CMNO
CMD-458721
Contract Status
Notarized
R
Internal
☐
Establishment Date
15/06/2023
Borrower Since
20/08/2025
Last Review Date
30/11/2025
Facility Purpose/Sector
Automobile Dealership – Passenger Vehicles
Account Conduct
Regular R
Irregular ☐
Capital Return
Existing
Proposed
Credit Risk Rating
(12/24)
(12/25)
ROC
13.5 %
14.2%
CreditLens
B+ (12/24)
BB- (12/25)
Moody’s
B1
B1
RAROC
11.8 %
12.6%
ESG
Medium Risk
Compliant with local norms
RWA in Mn
125
Current Strategy
Maintain/Grow
Proposed Strategy
Grow
Incorporation and Ownership:-
Partner/ Shareholder
Ownership
Nationality
Board-Related
Peter Johnson
55%
Kuwaiti
Yes R
No ☐
Maria Johnson
30%
Kuwaiti
Yes ☐
No R
Auto Holdings LLP
15%
Kuwaiti
Yes ☐
No R
Total
Change of Ownership/ Management*
Yes ☐
No R
MODULE B
Facility Details
In KWD'000s
As of: 18/12/2025
ESG
Facility Type
Current
Request
After Request
Maturity
Yes
No
Limit
O/S
OD Line
8,000
7,000
(0)
8,000
25/07/2027
LTL
2,000
2,000
(0)
2,000
15/09/2026
Total Cash Facilities
10,000
9,000
(0)
10,000
LG Line (Global and Outgoing)
19,000
12,450
(0)
19,000
25/07/2027
LC Line (Global and Local)
3,000
1,000
(0)
3,000
25/07/2028
LG Line (Project Finance)
6,750
5,500
(0)
6,750
25/07/2027
Total Non-Cash Facilities
28,750
18,950
(0)
28,750
Total Facilities
38,750
27,950
(0)
38,750
Against the following:
Facilities guaranteed (only if not all facilities granted)
Guarantors
Credit Lens
Mr. Peter Johnson (Promoter & Managing Director) – Personal Guarantee (Unlimited & Joint and Several)
Supported
Current
Covenant
Dec 2025
June 2026
Proposed
Covenant
Value/Ratio
Status
Value/Ratio
Status
Leverage Ratio (Total Debt / EBITDA)
3.2x
compiled
3.0x
compiled
≤ 3.5x
Collateral Breakdown (KWD '000s)
Facilities collateralized (only if not all facilities granted)
Type
Details
Previous Collateral Value
Change in Collateral Value
Resulting Collateral Value
% of Total
Leverage Ratio
Hypothecation of Inventory & Receivables
2,345
+587
345
59%
Collateral Value Totals
2,345
587
345
41%
Facility Total
KWD 21.65 Mn
Current Coverage Ratio
23%
Upon Approval Total limits Coverage Ratio
23%
Minimum Contractual Coverage Ratio
100%
Internally Accepted Coverage Ratio (If different)
20%
MODULE C
Current Client/Group Exposure
Company Name In KWD 000’s
Cash
Non Cash
FX Line
Total
Collateral
Limit
Utilized
Limit
Utilized
ABC Trading Co.
30
15
35
25
54
39
50
XYZ Industries Ltd.
20
12
23
12
37
40
30
Group Grand Total
50
27
58
37
91
79
80
RO Recommendation:
Credit Risk Conclusion & Recommendation:
PNW Analysis - Automated
Strength & Weakness
Comments on changes in Credit Rating if Any
Recommendation
Ci-Net Reporting
Borrower & Group Ci-Net Reports by company as of
Customer Name
In KWD 000’s
NBK (As of…)
Total Market( As of…)
Market Share %
Cash
Non-cash
FX Limit
Cash
Non-cash
FX Limit
Cash
Non-cash
FX
Limit
Utilized
Limit
Utilized
Limit
Utilized
Limit
Utilized
Limit
Utilized
Limit
Utilized
CO1
2,000
1,500
2,500
1,200
1,200
380
290
350
150
150
25%
3%
28%
13%
12%
CO2
4,500
1,200
4,500
1,300
1,300
390
180
450
120
120
52%
26%
32%
23%
15%
Total Group
Market Share (prior renewal)
77%
29%
60%
36%
27%
Credit Profile Overview:
Indicator
Local Currency
Foreign Currency
Total
Total Credit Limit – Cash Facilities
1,15,68,948
0
1,15,68,948
Total Outstanding – Cash Facilities
93,08,450
0
93,08,450
Total Credit Limit – NonCash Facilities
1,52,79,152
8,26,607
1,61,05,759
Total Outstanding – NonCash Facilities
93,35,634
2,61,711
95,97,345
Total Credit Limit – Other Commitments
0
0
0
Total Outstanding – Other Commitments
0
0
0
Total Amount Past Due for Payment
7,66,991
0
7,66,991
Indicator
Value
Number of Creditors to Whom Client is Indebted
6
Number of Cash Facilities (Loans, Credit A/c) – Open
59
Number of NonCash Facilities (LCs, LGs) – Open
133
Number of Cash Facilities (Loans, Credit A/c) – Closed
403
Number of NonCash Facilities (LCs, LGs) – Closed
168
Current Worst Status of Accounts
WriteOff
Worst Historical Status of Accounts
Arrears
Worst Historical Number of Payments Overdue
20
Maximum % of Total Credit Utilization in Last 24 Months (Cash + NonCash)
68
Maximum Number of Facilities Overdue in the Last 24 Months
7
Indicator
Value
Maximum Number of Payments Overdue in the Last 24 Months
20
Number of Accounts Under Legal Dispute
0
Total Overdue Amount (Cash)
7,66,991
Total Writeoff Amount
13,90,263
Unpaid Installments – Less than 30 Days Past Due
42
Unpaid Installments – 31 to 60 Days Past Due
8
Unpaid Installments – 61 to 90 Days Past Due
3
Unpaid Installments – Greater than 90 Days Past Due
12
Facilitated Financing
Yes
Collateral Pledge Flag
Yes
Total Credit Summary:
Description
Local
Foreign
Total
Total Balance Outstanding
1,86,44,084
2,61,711
1,89,05,795
Total Number of Facilities
188
11
199
Total Overdue Balance
7,66,991
0
7,66,991
Overdue 1–30 Days
2,04,675
0
2,04,675
Overdue 31–60 Days
5,62,247
0
5,62,247
Overdue 61–90 Days
0
0
0
Overdue 91–120 Days
0
0
0
Overdue 121–180 Days
0
0
0
Overdue 181–365 Days
0
0
0
Overdue > 365 Days
69
0
69
Comments on Irregular account conduct: -
Guarantor Ci-Net Report as of ….
Customer Name
In KWD 000’s
NBK ( As of …)
Total Market( As of …)
Market Share %
Cash
Non-cash
Cash
Non-cash
Cash
Non-cash
Limit
Utilized
Limit
Utilized
Limit
Utilized
Limit
Utilized
Limit
Utilized
Limit
Utilized
Guarantor
5,000
2,500
4,000
2,000
3,000
2,000
2,500
1,500
200
200
100
100
Banks’ Dealings :-
Bank
Cash
Non-Cash
FX
Collateral
5,00,000
3,00,000
1,20,000
7,50,000
Guarantor / Personal Net Worth Position:
Assets
ABC Automotive Pvt. Ltd.
Cash
Other Assets
Total Assets
0
Liabilities
Local Banks
Foreign banks
Direct Liabilities
0
Indirect Liabilities - Personal Guarantees
Indirect Liabilities - LCs/LGs
Personal Net worth (Assets - Liab)
0
Revenues
ABC Automotive Pvt. Ltd.
Rent
Share/Bond income
Dividends
Salary
Share of profit in owned companies / establishments
Other income
Total Revenues
0
Expenses
Interest
Personal Expenses
Loan Repayments
Other expenses
Total Expenses
Net Income (Revenue - Expenses)
Comments on the financial Position
Deal Economics and Relationship Profitability as of:
In KWD 000's
Client
Group
Client
Group
Client
Group
2023
2024
2025
Interest Income
21,345
34,521
22,880
36,940
24,750
39,880
Retail Income
1,250
2,100
1,180
2,050
1,320
2,300
FX
980
1,750
1,120
1,980
1,450
2,450
LC, LG Commissions
2,350
4,120
2,680
4,550
3,100
5,200
Fees & other
1,050
1,900
1,200
2,100
1,380
2,350
Total
26,975
44,391
29,060
47,620
31,000
52,180
Cross-Selling:
POS
Payment Gateway
WOLC
Salary Portal
Approved List
Yes R
No ☐
Yes R
No ☐
Financial R
Enquiry ☐
Yes R
No ☐
Yes R
No ☐
MODULE D
Business Overview
Company Background :
Management:-
Brief on shareholder’s / Parent company Shareholders structure
Resources, plants and heavy equipment:-
Main clients and payment terms :-
Main Suppliers and payment terms:-
If company is publicly traded (mention stock price/performace, etc.):
Performance history / Executed projects
#
Project Description
Project Owner
Project supervising consultant
Value in 000's of KD
Contractualstart date
Actual Completion date
Core Banking System Upgrade
Kuwait National Bank
Accenture
1,250
15-07-2025
15-04-2026
Digital Channels Enhancement
Gulf Bank
Deloitte
980
08-04-2025
08-02-2026
Ongoing projects as at
#
Project Description
Project Owner
Supervising consultant
Value in 000's of KD
Contractualstart date
Contractual Completion date
% completionas of --/--/--
Core Banking System Upgrade
Kuwait National Bank
Accenture
1,250
15-07-2025
15-04-2026
80%
Digital Channels Enhancement
Gulf Bank
Deloitte
980
08-04-2025
08-03-2026
95%
Project Financing:
Project
Al-Watani Trading Co.
Location
Salmiya
Employer / Project Owner
Corporate
Construction Manager
Sara Ali
Consultant
Accenture
Main Contractor
Gulf Builders
Scope of work
Office Renovation
Contract Value
150000
Estimated costs
130000
Estimated profit margin
20000
Expected Start Date
20-10-2025
Contract duration
18 Months
Certificates & payments
-
Comments on status
As planned
NBK Relationship History
Market Analysis
Demand & Supply:-
Market Share/ Main Competitors:-
Key Business Considerations (high/low and reason)
Strategic Threats :-
Growth Potential :-
Competition :-
Barriers to Entry :-
Regulatory Framework :-
Cyclicality :-
Key Success Factors :-
Key Credit Risks and Mitigations (main risks that might change the well-being of a company):
Risk:
Mitigation
MODULE E
Borrower Name:
ABC Automotive Pvt. Ltd.
Fiscal yr. Financial Date
31/03/2025
Standalone / Consolidated
Standalone
Auditor Name
M/s Deloitte Haskins & Sells
Auditor Opinion:
Unqualified Opinion
Interim Financial Date
30/09/2025
Standalone / Consolidated
Standalone
Auditor /Preparer Name
Management Certified
Fact Sheet
Description
Oct-25
Dec-24
Dec-23
Dec-22
(10 months)
(12 months)
(12 months)
(12 months)
Income Statement Summary
Revenues - Sales
9,169
2,877
10,199
23,374
COGS
8,021
2,588
9,596
21,356
COGS / Sales
87%
90%
94%
91%
Direct Depreciation
0
83
112
110
Gross Profit
1,148
206
491
1,908
Gross Profit Margin
13%
7%
5%
8%
SG & A
1,051
825
292
337
SG & A / Sales
11%
29%
3%
1%
NOP
256
-544
450
1,880
NOP Margin
3%
-19%
4%
8%
Interest Coverage - NOP
10.67
N/A
22.50
156.67
NPBUI
844
359
1,416
2,368
ROS %
9.20
12.48
13.88
10.13
ROA %
2.99
1.18
4.24
5.87
ROE %
6.34
2.32
8.52
13.67
Net Profit
844
359
1,416
2,368
Net Profit Margin %
9.20
12.48
13.88
10.13
ROA %
2.99
1.18
4.24
5.87
ROE %
6.34
2.32
8.52
13.67
Growth Rates
Sales Growth Rate
N/A
-72%
-56%
-16%
Breakeven Sales
7,316
8,492
2,926
1,737
Margin of Safety
20.21%
-195.16%
71.31%
92.57%
Operating Leverage
4.48
-0.38
1.09
1.01
NOP Growth Rate
N/A
-221%
-76%
35%
Net Profit Growth Rate
N/A
-75%
-40%
26%
Balance Sheet Summary
Total Assets
33,885
30,470
33,402
40,350
Current Assets
31,640
28,452
31,087
38,007
Current Assets / T. Assets
93%
93%
93%
94%
A/R (DOH)
107
306
50
41
Inventory (DOH)
12
0
0
0
A/P + Accr/Liab (DOH)
323
841
238
119
CCC (DOH)
-204
-535
-188
-78
Total Liabilities
17,921
15,000
16,791
23,025
Interest Bearing Debt
603
523
639
442
%Leasing Obligations/Int. Bearing Debt
100%
100%
100%
100%
Off Bal Sheet Liab
0
35,989
37,396
35,837
Net Worth
15,964
15,470
16,611
17,325
Leverage Ratio
1.12
0.97
1.01
1.33
Leverage Ratio without P.A.
1.12
0.97
1.01
1.33
Leverage / Tang. Net worth
1.12
0.97
1.01
1.33
Lev. without P.A. / Tang. Net worth
1.12
0.97
1.01
1.33
Gearing
0.04
0.03
0.04
0.03
Gearing without P.A.
0.04
0.03
0.04
0.03
Current Ratio
2.87
3.66
3.38
2.44
Quick Ratio
2.11
2.67
2.55
1.50
Growth Rates
Assets Growth Rate
11%
-9%
-17%
-6%
Liabilities Growth Rate
19%
-11%
-27%
-13%
Net Worth Growth Rate
3%
-7%
-4%
4%
Debt Service Summary
EBITDA
1,134
707
1,788
2,704
EBITDA Margin
12.37%
24.57%
17.53%
11.57%
EBITDA Growth Rate
N/A
-60%
-34%
22%
Adjusted EBITDA
522
-216
802
2,204
Years to Service Debt
0.4
0.7
0.4
0.2
Net Debt / EBITDA
-
-
-
-
Debt / Adjusted EBITDA
1.0
N/A
0.8
0.2
Interest Coverage - EBITDA
47.3
35.4
89.4
225.3
Financial Payments Coverage - EBITDA
2.60
5.28
12.68
25.75
Subsidiaries in case of consolidated financial statement:
Primary Repayment Capacity:Consolidated EBITDA and operating cash flow generation of the group, including subsidiaries, considered Strong / Moderate / Weak.
Secondary Repayment Support:Availability of collateral, personal and corporate guarantees, and/or refinancing capacity from existing bank facilities, considered Strong / Moderate / Weak.
Financial Analysis
Sales & Profitability:
Income Statement
Dec-21
Dec-22
Dec-23
Dec-24
Oct-25
2025%
NET SALES/REVENUES
27,797
23,374
10,199
2,877
9,169
100%
Cost of Sales/Revenues
26,255
21,356
9,596
2,588
8,021
87%
Cost of Sales - Depreciation
120
110
112
83
0
0%
TOTAL COST OF SALES/REV
26,375
21,466
9,708
2,671
8,021
87%
GROSS PROFIT
1,422
1,908
491
206
1,148
13%
Other Operating Income (+)
522
523
491
480
425
5%
Selling Expense
0
0
0
0
0
0%
General & Admin Expense
241
212
217
806
1,031
11%
Other Gen & Admin Expense
0
0
0
0
0
0%
Post Retirement Benefit Expense
0
0
0
0
0
0%
Officers' Compensation
99
125
75
19
20
0%
Lease/Rent Expense
0
0
0
0
0
0%
Depreciation
213
214
240
245
266
3%
Asset Impairment
0
0
0
0
0
0%
Amortization
0
0
0
0
0
0%
Share Option Costs
0
0
0
0
0
0%
Operating Expense
0
0
0
0
0
0%
Personnel Expense
0
0
0
0
0
0%
Research & Development
0
0
0
0
0
0%
Bad Debt Expense
0
0
0
160
0
0%
Other Operating Expense
0
0
0
0
0
0%
Dividends-ESOP Trust
0
0
0
0
0
0%
TOTAL OPERATING EXPENSES
553
551
532
1,230
1,317
14%
NET OPERATING PROFIT
1,391
1,880
450
-544
256
3%
Interest Expense (-)
14
12
20
20
24
0%
Deferred Interest Expense (-)
0
0
0
0
0
0%
Capitalized Interest
0
0
0
0
0
0%
Cash Flow Analysis / Cash Flow Matrix
Asset Quality:
Assets
Dec-23
Dec-24
Oct-25
2025%
2024%
Growth%
CURRENT ASSETS
Cash
1,099
848
2,576
8%
3%
204%
Time Deposits
20,992
17,500
17,500
52%
57%
-
Marketable Securities
0
0
0
-
-
-
Accts/Notes Rec-Trade
1,583
2,762
3,219
9%
9%
17%
Bad Debt Reserve(-)
206
356
0
-
1%
(100%)
Trade Receivables
1,377
2,406
3,219
9%
8%
34%
Total Inventory
0
0
302
1%
-
-
Operating Current Assets
7,175
7,389
7,522
22%
24%
2%
Prepaids/Deferreds-CP
0
0
0
-
-
-
Other Current Assets
444
309
521
2%
1%
69%
TOTAL CURRENT ASSETS
31,087
28,452
31,640
93%
93%
11%
NON-CURRENT ASSETS
Total Fixed Assets-Net
220
133
543
2%
0%
308%
Due from Related Co
0
0
0
-
-
-
Investment in Subsidiaries/Associates
0
0
0
-
-
-
Investment @ FV
2,095
1,885
1,702
5%
6%
(10%)
Operating LT Assets
0
0
0
-
-
-
Non-Op Non-Cur Assets
0
0
0
-
-
-
Total Intangibles-Net
0
0
0
-
-
-
TOTAL NON-CURRENT ASSETS
2,315
2,018
2,245
7%
7%
11%
TOTAL ASSETS
33,402
30,470
33,885
100%
100%
11%
Working Investment Requirements
Working Investments and CCC
Oct-25
Dec-24
Dec-23
Dec-22
Working Investment KD
-4,981
-3,553
-4,877
-4,326
W.I. to Sales - %
-45%
-123%
-48%
-19%
Asset Conversion Cycle - Days
119
306
50
41
Cash Conversion Cycle - Days
-204
-535
-188
-78
Investments Stress Test
If Investmentsdown by 25%
If Investmentsdown by 50%
Balance sheet analysis
Assets Value
InvestmentsValue
InvestmentsValue
Investments
1,702
1,277
851
Total Assets
33,885
33,460
33,034
Investments / Total assets
5%
4%
3%
Total Liabilities
17,921
17,921
17,921
Interest Bearing Debt
603
603
603
Coverage ratio
189%
187%
184%
Safety Margin
47.11%
46.44%
45.75%
Equity
15,964
15,539
15,113
Leverage
1.12
1.15
1.19
Gearing
0.04
0.04
0.04
Capital Structure
LIABILITIES & NET WORTH
Dec-23
Dec-24
Oct-25
2025%
2024%
Δ%
CURRENT LIABILITIES
Overdrafts (Book)
0
0
0
0%
0%
-
Bank Overdrafts
0
0
0
-
-
-
ST Loans Payable-Bank
0
0
0
-
-
-
ST Loans Payable-Other
0
0
0
-
-
-
CPLTD-Bank
0
0
0
-
-
-
Govt Remittance Payable - CP
0
0
0
-
-
-
CPLTD-Other Secured
0
0
0
-
-
-
CPLTD-Other Unsecured
0
0
0
-
-
-
CP-Lease Obligations
121
114
494
1%
0%
333%
CP-Subordinated Debt
0
0
0
-
-
-
Trade Payable
2,879
2,578
5,490
16%
8%
113%
Loans from Related Co-CP
0
0
0
-
-
-
Due to Related Co-CP
345
280
157
0%
1%
(44%)
Account Pay-Other
0
0
0
-
-
-
Interest Payable
0
0
0
-
-
-
Dividends Payable
0
0
0
-
-
-
Wages/Salaries Payable
0
0
0
-
-
-
P/S Plan Contribution
0
0
0
-
-
-
Bonuses Payable
0
0
0
-
-
-
Other Accruals
3,375
3,381
3,012
9%
11%
(11%)
Other Taxes Payable
0
0
0
-
-
-
Total Accrued Liabilities
3,375
3,381
3,012
9%
11%
(11%)
Customers' Advances
2,481
1,414
1,889
6%
5%
34%
Income Taxes Payable
0
0
0
-
-
-
Deferred Fed Inc Tax-CP
0
0
0
-
-
-
Ac'rd Post Retrmt Benfts-CP
0
0
0
-
-
-
Share Option Costs - CP
0
0
0
-
-
-
Sources & Uses:
In KD 000's As of October 2025
Uses of Funds
Sources of Funds
Item
Amount
Item
Amount
Trading Assets (AR & Invent. & Costs in excess of billings)
3,521
Spontaneous Financing (AP & Accr. & Billing in excess of costs)
3,521
ST Bank Debts
0
Other Current Liabilities
0
Other Non-Current Liabilities
0
LT Bank Debts
0
Equity
0
Other Current Assets
28,119
Spontaneous Financing (AP & Accr. & Billing in excess of costs)
6,870
ST Bank Debts
0
Other Current Liabilities
157
Other Non-Current Liabilities
6,770
LT Bank Debts
603
Equity
13,719
Fixed Assets
543
Spontaneous Financing (AP & Accr. & Billing in excess of costs)
0
ST Bank Debts
0
Other Current Liabilities
0
Other Non-Current Liabilities
0
LT Bank Debts
0
Equity
543
Dues From Related Parties
0
Spontaneous Financing (AP & Accr. & Billing in excess of costs)
0
ST Bank Debts
0
Other Current Liabilities
0
Other Non-Current Liabilities
0
LT Bank Debts
0
Equity
0
Other Non-Current Assets
1,702
Spontaneous Financing (AP & Accr. & Billing in excess of costs)
0
ST Bank Debts
0
Other Current Liabilities
0
Other Non-Current Liabilities
0
LT Bank Debts
0
Equity
1,702
Total
33,885
Total
33,885
Contingent Liabilities / Commitments: -
In KD 000's
Dec-24
%
Dec-25
%
Change
LG
1,200
48%
1,350
50%
+150
LC
900
36%
950
35%
+50
other commitments
400
16%
400
15%
-
Total
2,500
100%
2,700
100%
+200
At the standalone level, Contingent Liabilities and Commitments stood at KD 2.7 million as of Dec25 which was acceptable at approximately 35% of Total Net worth as at FY2020. Implicit leverage stands at manageable Levels
Including the contingent liabilities into the long term debt and long term receivables, the internal rating reaches BBB / Satisfactory, reflecting moderate risk
Company’s projected cash flow: -
Corporate Banking group
Prepared by: Nasser
Date: 22/01/2026
Credit Risk Management
Prepared by: Hisham
Date: 26/01/2026
Reviewed by: Ali
Date: 28/01/2026
Approved by respective Committee : Credit Committee members
Naser
Ahmed
Ali
Amal
Date: 29/01/2026
Date: 29/01/2026
Date: 29/01/2026
Date: 29/01/2026
Appendix