Вы находитесь на странице: 1из 17

Singapore Management University

The Birth of Dunia (B): Time To Actively Start Lending?

Swee Liang Tan

Singapore Management University, sltan@smu.edu.sg

Kevin Sproule

sproule@gmail.com

Venkataraman S N

Singapore Management University, snvenkat@smu.edu.sg

Follow this and additional works at: http://ink.library.smu.edu.sg/cases_coll_all

, and the Finance and Financial Management Commons Citation Tan, Swee Liang; Sproule, Kevin; and S

Citation

Tan, Swee Liang; Sproule, Kevin; and S N, Venkataraman. The Birth of Dunia (B): Time To Actively Start Lending?. (2013). Case Collection. Available at: http://ink.library.smu.edu.sg/cases_coll_all/47

This Case is brought to you for free and open access by the Case Writing Initiative at Institutional Knowledge at Singapore Management University. It has been accepted for inclusion in Case Collection by an authorized administrator of Institutional Knowledge at Singapore Management University. For more information, please email libIR@smu.edu.sg.

SMU-12-0005B

SMU-12-0005B

THE BIRTH OF D UNIA (B): TIME TO ACTIVELY S TART LENDING?

It was not without long n ights and some hard decisions, but Dunia opene d its first branch for business on September 29 , 2008. As big as the decision to launch was, it seemed like just the beginning to chief risk off icer (CRO) Raman Krishnan. After all, opening the doors and turning on the lights seemed stra ightforward when compared to underwriting m illions of dollars in loans during a time of unp recedented uncertainty in the midst of a worldwi de financial crisis.

On April 16, 2009, Krish nan received the preliminary financial report fo r the first quarter of 2009. Given the macro-ec onomic indicators, he did not expect the numbe rs to look as good as they did. Dunia had jus t finished its second full quarter of operation , and Krishnan was cautiously optimistic abou t the early returns. He thought about the collapse of Lehman Brothers

on September 15, 2008, a nd the financial crisis that had persisted worldwi de. Despite this crisis, Dunia was lending and p eople were paying. But not everything was pos itive, and there were

some signs that troubled

Emirates altogether and d efaulted on their loans with the banking syste m had increased. Oil prices had plummeted. Th e global economy was getting worse, and the U .S. stock market had fallen 31% since the Lehm an Brothers’ collapse. 1

Krishnan. The number of people that had l eft the United Arab

vast majority of the

company’s money. Dunia had been extremely cautious with its first loans , but the pace would need to accelerate. At the end of 2008, for every dollar the company had u nderwritten in a loan,

The challenge that confr onted Krishnan was how to begin loaning the

it had over ten dollars sit ting in the bank available for lending. To make money and meet the

growth targets set out in

more and expand its portf olio quickly.

its investment plan to shareholders, Dunia woul d need to lend much

his risk report for the board’s approval, and h e knew it would be

scrutinised in great detail. He also had a more immediate priority, which w as a sample portfolio

review to be conducted

Kakar, felt a critical comp onent of operating the young business in such u ncertain times was a review of even the most f undamental components of the business. To fac ilitate this, the senior management team was to kick off the meeting by offering their own indep endent assessment of

with all of the top Dunia management. The CE O of Dunia, Rajeev

Krishnan was preparing

stating whether they would approve them and f or how much. Based learned would be collated and communicated t o the sales team and

loan approving officers. K rishnan began analysing the 30 loan entries in f ull detail, and started thinking about what under writing decision he would make on each one.

real loan applications, and on their feedback, lessons

As he went through the l ist, he knew that the two ideas were linked. Hi s decision about the macro strategy for risk w ould also have implications on the loan approva ls he had in front of

him. Similarly he knew

that the approval of a loan would have to m atch Dunia’s overall

company strategy. While the financial plans approved by the board of di rectors envisaged an

1 As measured by the S&P500 Inde x – Value on September 5, 2008 (1,242.31) compared to the value on April 9, 2009 (856.56) – Google Finance, http://www.google .com/finance?cid=626307, accessed December 2012.

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

aggressive ramp-up of lending, Krishnan would have to tell the company’s management what risk they could take on in a predictable fashion, and how to appropriately price that risk – and all this would be at a time when risk had become completely unpredictable.

The economy in the UAE after Lehman Brothers

After the collapse of Lehman Brothers in September 2008, the confidence in capital markets around the world was shaken. The UAE economy was largely based on tourism and oil, both of which were slowing. The price of a barrel of oil had already fallen from over US$100 in September 2008 to US$52 in April 2009. 2

However, despite the external pressures, the overall outlook on the UAE was more positive than many other countries. Growth rates were forecast in the mid-3% range, which was down about 2% from 2008, but still above the negative growth rates forecasted in many developed economies. 3 The central bank had infused significant capital into the financial markets and had taken steps to mitigate the financial crisis from coming to the UAE. Headlines from the local finance periodical Moneyworks, read “UAE Property Market Starting to Stabilise: Landmark Advisory” and “Markets Show Signs of Recovery.” However, the internal view was that while the worst might be over, the UAE was not yet in recovery mode.

Dunia gets started

The first branch opened as scheduled on September 29, 2008, in Abu Dhabi. The Hamdan branch was located in central Abu Dhabi near a crowded Emirates grocery store. The branch reflected the distribution strategy of Dunia. First, every customer would be met at the door by a dedicated greeter. Once the greeter assessed the nature of the visit, he or she would get the appropriate customer relation manager, or set the customer up with the general services counter for matters like cash withdrawals or bill payments. Each centre was equipped to handle a variety of questions, and it was opened during convenient hours to allow for customers to get there when it fit their schedule.

The central Dunia contact centre had also come together nicely. The centre was staffed to handle any customer call or email 24 hours a day. Dunia wanted to ensure that a customer could always get an answer to his or her question. Potential customers were also reached in a variety of ways. Ad campaigns and solicitations were taken out in newspapers, TV, internet, and mobile phones. The customer had multiple channels to reach Dunia and that was driven from day one. There were also plans to expand beyond the first branch within the next 12-18 months.

Dunia’s reaction to the Lehman collapse

The Lehman collapse made headlines worldwide in September 2008. The fall of a 158-year-old finance company sent shockwaves around the world and made the idea of worldwide recession even more plausible. Dunia was launched 14 days later and had to change course. Its unique value proposition and go-to-market strategy were challenged. After presenting its ideas to the board, it did launch, but not without taking some steps to mitigate potential risk, and setting an adequate price for the risk they were assuming.

2 The Intercontinental Exchange’s Brent Crude Oil stood at US$101.30 on September 10 2008 and US51.72 on April 16 2009. The Intercontinental Exchange, “ICE Brent Index,” https://www.theice.com/marketdata/reports/ReportCenter.shtml, accessed December 2012.

3 IMF Statistics, UAE, April 2012, http://www.imf.org/external/pubs/ft/scr/2012/cr12136.pdf, accessed December 2012.

2/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

Specifically Dunia changed its strategy in regard to loaning to the lowest income segment, Dunia Money, by raising the minimum monthly qualifying income over two times. It also raised the interest rates it charged on its loans (refer to Exhibit 1 for market segment interest rates). The company then lowered the overall value of each loan to reduce the exposure to a single customer (refer to Exhibit 2 for average loan size). Additional documentation was requested prior to the loans being approved. Dunia also restricted lending to certain industries which it viewed as high risk (refer to Exhibit 3 for risk response by Dunia).

However, as a consequence to the increased stringency in guidelines, by the end of the first few months, Dunia had only underwritten loans to the tune of about 10% of its total equity, which meant it had a lot more lending to do. Each instance of credit tightening was reducing the size

of

the target market - resulting in lower sales than planned. Apart from the balance sheet impact

of

the reduced volumes versus original plan, this was causing real frustration amongst the sales

teams.

Approving the first loan

Dunia wrote its first check shortly after the Hamdan branch opened. First a customer would fill in the comprehensive application. This required significant background on the potential applicant. The application collected the customer’s name and resident status, current employer and existing liability information. It also collected information about home country resident status for those who were expatriates (refer to Exhibit 4 for a copy of the application form). This form required supporting documentation and was designed to ensure the validity of the information on the form.

Working without a credit bureau

On-us versus off-us behaviour

A central tenet of the Dunia strategy was the successful deployment of analytics, which was

used to provide excellent customer service. Krishnan realised that analytics tools were very

useful to his risk team, as they were critical to understanding the interplay between risk, revenue and response. As he commented:

My unit is the biggest consumer of analytics. So what are the main uses? There is flexible MIS [Management Information Systems] and reporting, they facilitate rapid cross selling, effective portfolio management based on early indicators and then the three R’s: risk revenue and response. It is not just about risk management, but about managing risk, revenue and response. And obviously none of this is a substitute for sound judgment.

The analytics tools would facilitate a customer level risk profile, which was especially important considering the lack of a comprehensive credit bureau in the UAE. Analytics proved so central that Dunia structured its product offering to support gathering critical customer information. Krishnan remarked on the effort to provide data to the analytics team:

While most financial institutions would launch a credit card many years after launch, Dunia launched its credit card almost immediately after launch. Now what does this do? It provides a very powerful tool to understand ‘on us’ behaviour more than just loan payment behaviour. For a loan, what is the behaviour? Did the customer pay or not? If the customer paid, did he pay on time or did he pay late? Whereas on a credit card, the behaviour of a customer can be a lot more than that. Its utilization, velocity of utilization, how fast did customers ramp up their card, what kind of merchants did they spend with, what are their repayment ratios, are they transactors or revolvers? If customers are revolvers, are they paying exactly the minimum at 5% or are they paying 50% or 80%?

3/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

Are you a cash user or not, and if you are a cash user, are you a consistent cash user? There is a whole lot of information sitting in there, which you can use for your behavioural analysis.

When credit card and loan data were merged, Krishnan hoped to have a clear picture of a customer and his or her credit worthiness.

He felt this was critical as the analytics would feed into other parts of the business. For example, analytics also provided a way to reward the customer. With spending behaviour, Dunia would analyse the credit history of customers and extend higher credit limits where appropriate. This provided a strong incentive to many of the target Dunia customers as they got more access to credit for sound payment history. Analytics also fed the call centre operations. With an effective analytics-based view of the customer, the company would be able to offer complementary products and cross-sell other Dunia services. With such a heavy focus on analytics, the call centre soon transformed from a cost centre to a profit centre due to these cross-selling activities.

Verification process

Another core component of Dunia’s risk mitigation efforts was the verification of the applicant. In other words, this process involved not only looking at the information that was provided on the loan application, but also independently verifying that it was in fact true. Krishnan said of Dunia’s first efforts:

Field verification was required for 100% of the cases; once our sales force went to an office to source a customer, we initiated an independent verification so someone from our team would go out and meet the customer independently at the office.

With a member of the risk team also independently verifying the details of the loan application, Krishnan felt that this helped avoid the incentive of a sales person pushing through loans without a full verification. This was all part of Dunia’s overall strategy to get as much information as they could, and with credit card transaction data and independently verified application data, it hoped to mitigate the uncertainty inherent in not having a comprehensive credit bureau.

The application had several pieces of information that would be verified and considered in the credit decision. The data collected fell into some of the following categories:

1. Monthly income

2. Employer details (name of employer, type of employer, e.g., top tier multinational, self- employed, etc.)

3. Contact information (e.g., phone number, email address, etc.)

4. Years with present and previous companies

5. Vehicle and home ownership

6. Details of existing loans

An effort was made, where possible, to verify the information given by the applicant through independent verification. For example, monthly income could be verified with company pay stubs, and contact and income information could be verified with the employer. Internal consistency of the same piece of information gathered from various sources was also considered. Every effort was made to collect and review relevant information to facilitate the credit decision.

4/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

Some of the numbers are in

By March 2009, the final numbers for the 2008 annual report had been audited by Price Waterhouse Coopers. Krishnan also had the numbers for the first quarter 2009. Dunia had been operating for two full quarters, and he had data on six months of lending activity. Two things gave him cause for concern. The first was the early delinquency trend. As measured by the loans that were more than 30 days late in payment, the loans that Dunia had made in November 2008 had a delinquency rate four times greater than its benchmark. This was the benchmark that Dunia had set based on past experience, and the delinquency that Krishnan observed was worrisome. He felt that for such a young tenure of loans, not seeing a steady stream of payments was a source of significant concern. Moreover, delinquencies in the first month had fallen initially after November 2008, but had now been rising to levels that alarmed Krishnan. In fact a measure of all loans made to date when Dunia hit the four-month market were more than three times what the company had deemed an acceptable level (refer to Exhibit 5 for loan delinquency trends).

The second was the larger macro-economic picture. The stresses that the UAE had witnessed in November 2008 were still there, and showed signs of getting worse. Oil prices were down, and the price of credit default swaps (which was one of the key triggers of the financial crisis) was highly volatile and exposed a significant risk (refer to Exhibit 6 for global oil prices). Various experts had varied views on what this meant. The credit rating agency, Moody’s said:

The very high ratings of the Federal Government of the United Arab Emirates (UAE) are resistant to the steep fall that has been recorded in international oil prices since July 2008. The core assumption that underpins Moody's Aa2 ratings is that the Federal Government is fully supported by the government of Abu Dhabi, also rated Aa2. Even if oil prices were to fall below $30 per barrel, the Abu Dhabi government has recourse to a large stock of offshore financial assets. 4

However, the financial industry, with a less direct link to the government of Abu Dhabi had a less sanguine view. Fitch’s Dubai director Robert Thursfield observed:

Fitch's outlook for GCC [Gulf Cooperation Council] banks has become less favourable as it has become evident that the region's banks and financial institutions will not be able to fully insulate themselves from the global credit crisis. GCC banks are now feeling the effects of the crisis, which is likely to cause deterioration in banking sector profitability and capitalisation going forward. 5

Standard & Poor’s analyst Farouk Soussa said of his company’s rating:

The outlook revision reflects the impact of the difficult global macroeconomic and financing environment on the Emirate of Dubai (not rated)… The medium-term risks to Dubai’s economy have, in our view, increased as demand in the all-important real estate sector shows clear signs of abating, raising the possibility of a sharp correction in the real estate market, and an associated contraction in development and construction. 6

4 “Moody’s: UAE Sovereign Rating Not Threatened by Oil Price Fall,” Global Credit Research – Moody’s Investor Services, December 30, 2008, http://www.moodys.com/research/Moodys-UAE-sovereign-rating-not-threatened-by-oil-price-fall--

PR_170191, accessed January 2013.

5 K. S. Sreekumar, “Creditworthiness Questioned,” Gulf Weekly, January 14, 2009, http://www.gulfweeklyworldwide.com/Articles.aspx?articleid=21191, accessed January 2013.

6 “Outlook on Few Government-related Entities Negative on Deteriorating Economic Outlook,” Dubai Chronicle, December 17, 2008. http://www.dubaichronicle.com/2008/12/17/outlook-on-some-government-related-entities-negative-on-deteriorating- economic-outlook/, accessed January 2013.

5/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

These were troubling signs for Krishnan, and as he got ready for his meeting with the senior management team, he had two things on his mind. The first was the 30 individual loan applications he would have to provide his credit and risk assessment on (refer to Exhibit 7 for details of the 30 loan applications). And second, his comments on those would also drive the overall risk strategy of Dunia going forward.

He realized that his rationale for approving or rejecting the loans would articulate the broader lending strategy. He would thus need to understand what risk would be appropriate for Dunia, and then make his case in both the micro sense, with the individual accounts, and then more broadly across the whole portfolio. If the credit criteria were tightened further given the macro stress as well as the early delinquency indicators, there would be additional challenges in terms of managing the sales force and their motivation levels, given the ensuing inevitable reduction in volumes. Further, there would be a need to understand how and from where to source sufficient number of potential borrowers, who would satisfy the revised criteria and also enable Dunia to meet the planned growth numbers.

Krishnan had his work cut out for him and it was time to get started.

6/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

EXHIBIT 1: T RENDS OF INTEREST RATES ON LOAN SEG MENTS (R ANGE: BASE OF – 8%, GOING UP TO + 8%)

Interest Rates 41.0% 39.0% 37.0% 35.0% MAF 33.0% BASE SMM 31.0% SEMM 29.0% 27.0% 25.0%
Interest Rates
41.0%
39.0%
37.0%
35.0%
MAF
33.0%
BASE
SMM
31.0%
SEMM
29.0%
27.0%
25.0%
Oct-08
Dec-08
Jan-09
Mar-09
Apr-09

Source: Dunia Internal Infor mation

EXHIBIT 2: AVERAGE LOAN SIZE

Trends o f average loan size index - Oct 2008 to Apr 2 009 120
Trends o f average loan size index - Oct 2008 to Apr 2 009
120
100
80
60
40
20
0
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
Loan size index - Oct 2008 = 100

Source: Dunia Internal Infor mation

7/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

EXHIBIT 3: RISK RESPONSE AT DUNIA

External Outlook

Internal Response

Pre Sep 2008:

 
 

• Irrational exuberance

• Low income eligibility requirements

• Aggressive growth in asset prices

• Aggressive credit policies

• Lower pricing

• High inflation

• Record growth in consumer lending

• High leverage

Sep’08 to May’09:

• Lehman bankruptcy

• Significant increase in income eligibility requirements

• Bailouts of “Too Big to Fail” organizations by taxpayer

• Blacklisted construction sector

• Significant increase in lending rate

• Tighter credit

• Tighter credit

Higher documentation

• Liquidity dried up

• Asset bubbles burst

More evidence required of banking and other credit behaviour required

• Oil prices plummeted

 

Field visits for every case

Source: Dunia Internal Information

8/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

EXHIBIT 4: APPLICATION FORM FOR OPENING AN ACCOUNT RELATIONSHIP

Dunia (B): Time to Actively Start Lending? EXHIBIT 4: APPLICATION FORM FOR OPENING AN ACCOUNT RELATIONSHIP

9/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

SMU-12-0005B Dunia (B): Time to Actively Start Lending? 10/16

10/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

SMU-12-0005B Dunia (B): Time to Actively Start Lending? 11/16

11/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

SMU-12-0005B Dunia (B): Time to Actively Start Lending? 12/16

12/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

EXHIBIT 5: LOAN DELINQUENCY RATES (INDEXED, IDEAL = 100)

Month

M1

M2

M3

M4

M5

Nov-08

468

339

310

397

335

Dec-08

131

292

278

273

 

Jan-09

193

297

355

   

Feb-09

443

298

     

Mar-09

465

       

Note: This chart presents the delinquency indicator against an ideal of 100. The Y-axis denotes when the loan was originated, and the X-axis denotes months from initial booking. For example 355 for Jan-09 at M3 would mean loans originated in January 2009 when looking at payments made on those loans in April 2009 had a delinquency rate 3.55 times higher than ideal.

Source: Dunia Internal Information

13/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

EXHIBIT 6: GLOBAL OIL PRICES

ICE Brent Crude Oil 1 M onth Delivery

6: GLOBAL OIL PRICES ICE Brent Crude Oil 1 M onth Delivery Source: Market Data, Financi

Source: Market Data, Financi al Times, http://markets.ft.com/researc h/Markets/Tearsheets/Summary?s=IB.1:IEU, accessed J anuary 2013.

14/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

EXHIBIT 7: SAMPLE OF 30 LOAN APPLICATIONS

Applicant Number

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

Result

Good

Good

Rejected

Good

Bad

Rejected

Rejected

Good

Bad

Bad

 

Rejected

Good

Good

Rejected

Rejected

Gender

M

F

M

F

M

F

F

M

M

M

M

M

M

M

M

Nationality

Foreigner

Foreigner

Foreigner

Foreigner

Local

Foreigner

Foreigner

Foreigner

Foreigner

Foreigner

Foreigner

Foreigner

Foreigner

Foreigner

Foreigner

Fixed income amt US$

625

900

1,400

1,500

1,700

1,700

1,800

1,908

2,000

2,000

 

2,000

2,000

2,400

2,500

2,500

Variable income amt

400

400

0

600

0

110

0

 

0

0

0

1400

1600

0

0

Type of co employed

Top tier

 

Top tier

Small

Large

local

Top tier

Mid-range

Top tier

Mid-range

Top tier

Mid-range

Top tier

Large

local

Top tier

Top tier

Mid-range

business

corporate

corporate

Availability of home telephone number - Y/N

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

N

Y

Y

Availability of office telephone number - Y/N

Y

N

Y

Y

Y

Y

Y

N

Y

Y

Y

N

Y

Y

Y

Availability of mobile telephone number - Y/N

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Availability of personal email address - Y/N

Y

Y

Y

Y

N

Y

Y

Y

Y

Y

N

Y

Y

N

N

Availability of office email address - Y/N

N

N

Y

N

N

N

N

N

Y

N

N

N

N

N

N

Marital status

Married

Married

Married

Married

Single

Single

Single

Single

Single

Single

 

Single

Married

Married

Married

Married

Age

42

37

54

36

28

37

24

27

40

35

30

54

57

50

30

Family in UAE - Y/N

Y

Y

N

Y

N

N

N

N

N

N

N

Y

Y

N

Y

Spouse working - Y/N

N

Y

N

Y

N

N

N

N

N

N

N

N

N

N

N

If spouse working, monthly income

0

1000

0

1500

0

 

0

0

0

0

0

0

0

0

0

Type of accommodation

Rented

Company

Rented

Shared

Company

Rented

Company

Company

Rented

Company

Rented

Rented

Company

Company

Rented

Provided

Accomm

Provided

Provided

Provided

Provided

 

Provided

Provided

Rental paid US$

285

575

500

920

0

1,000

0

570

300

0

200

980

1,085

0

400

Vehicle ownership - Y/N

Y

Y

N

N

N

Y

N

Y

N

N

N

Y

N

N

N

Make and model of vehicle

Toyota

Hyundai

     

Premier

                 

Corolla

Getz

Vehicle financed - Y/N

Y

N

     

N

   

N

 

N

       

Home ownership in UAE - Y/N

N

N

N

N

 

N

 

N

N

N

N

N

N

N

 

Total work experience

13

2

29

8

4

4

2

5

10

11

7

26

34

13

2

Details of existing loans US$

PIL

EMI

PIL

EMI

 

PIL

EMI

   

PIL

EMI

 

PIL

EMI

PIL

EMI

PIL

EMI

Auto

EMI

     

155

215

315

PIL 600

0

600

500

700

750

510

Details of existing credit cards US$ limit

3025

           

1250

 

2

cards

1

card,

400

   

6648

   

818

4000

15,000 limit

limit

4000

20000

15/16

SMU-12-0005B

Dunia (B): Time to Actively Start Lending?

Applicant Number

 

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

Result

 

Rejected

Good

Good

Good

Bad

Rejected

Rejected

Good

Good

Good

Bad

Rejected

Bad

Bad

Good

Gender

 

M

F

F

M

M

M

M

M

M

F

M

M

M

M

M

Nationality

 

Foreigner

Local

Local

Foreigner

Local

Foreigner

Local

Local

Foreigner

Local

Foreigner

Local

Foreigner

Foreigner

Foreigner

Fixed

income

amount

                             

US$

2,500

2,618

2,800

2,906

3,000

3,000

3,000

3,329

3,400

3,800

12,000

14,000

30,000

40000

Variable

Variable income amount

 

0

 

1200

0

0

0

0

 

1800

1600

0

0

0

0

 

Type of co employed

 

Top tier

Top tier

Top tier

Top tier

Large

local

Small

Large

local

Large local

Top tier

Mid-

Self

Self

Self

Self

Self

corporate

business

corporate

corporate

range

employed

employed

employed

employed

employed

Availability of home telephone number - Y/N

Y

N

Y

Y

Y

Y

Y

N

N

Y

Y

Y

Y

Y

Y

Availability of office telephone number - Y/N

Y

N

N

N

Y

Y

Y

N

N

N

Y

Y

Y

Y

Y

Availability of mobile telephone number - Y/N

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Availability of personal email address - Y/N

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

N

N

Y

Y

Y

Availability of office email address - Y/N

N

N

N

N

N

Y

N

N

N

N

N

Y

N

N

N

Marital status

 

Married

Single

Married

Single

Single

Single

Married

Married

Married

Married

Married

Single

Single

Married

Married

Age

34

29

49

29

40

40

32

34

33

53

40

32

38

35

49

Family in UAE - Y/N

 

N

N

Y

N

N

N

Y

Y

Y

N

N

N

N

Y

N

Spouse working - Y/N

 

N

N

Y

N

N

N

Y

Y

Y

N

N

N

N

N

N

If

spouse

working,

0

 

0

2000

0

 

0

 

0

1500

 

1800

 

2600

 

0

0

 

0

0

0

 

0

monthly income

Type of accommodation

 

Rented

Rented

Rented

Shared

Company

Rented

Rented

Company

Rented

Company

Rented

Rented

Rented

Rented

Rented

Accomm

Provided

Provided

Provided

Rental paid US$

 

300

780

1,225

875

0

 

300

860

2,215

1,125

600

1,250

1,500

   

Vehicle ownership - Y/N

N

N

Y

Y

Y

N

Y

Y

Y

Y

Y

Y

Y

Y

Y

Make

and

model

of

       

Economy

 

Mid-range

 

Toyota

Hyundai

Economy

Mid-range

Luxury

Economy

 

vehicle

 

Fortuner

Santa Fe

Vehicle financed - Y/N

         

N

 

Y

 

Y

Y

N

Y

N

Y

 

Home ownership in UAE - Y/N

 

N

N

N

N

 

N

N

N

N

N

N

N

N

Y

Total work experience

 

1

7

20

1

4

17

2

12

10

25

7

1

14

7

 
                   

PIL EMI

         

Details of existing loans US$

PIL

1300

EMI

PIL

200

EMI

PIL

480

EMI

PIL

auto

1500

plus

EMI

PIL

250,

EMI 350

EMI

Auto

PIL

125

EMI

410,

Auto

EMI 500

PIL 2500

PIL + auto

2300

                           

2

cards,

 

Details of existing credit cards US$ limit

4088

4000

4000

6707

9401

2725

card 400

1

limit

4000

20,000

limit

5832

Source: Dunia Internal Information

16/16