Excellence in

Banking

TABLE OF CONTENTS

TOPIC PAG
E
EXECUTIVE SUMMARY

1.0 INTRODUCTION

1.1 Incidentals of authorization and submission

1.2 Objectives of the Report
1.3 Scope of the Report
1.4 Historical background
1.5 Methodology
2.0 BRIEF OVERVIEW OF DHAKA BANK LTD

2.1 Mission statement

2.2 Vision
2.3 Goal
2.4 Membership overview
3.0 LOAN STRUCTURE IN DHAKA BANK LTD

3.1 Operational categories of loan

3.1.1 Continuous loan
3.1.2 Demand loan
3.1.3 Fixed term loan
3.1.4 Short-term agricultural and micro credits
3.2 Application based categories of loan
3.2.1 Corporate loans
3.2.2 SME loans
3.2.3 Retail loans
3.2.3.1 Auto loan
3.2.3.2 Personal loan
3.2.3.3 Vacation loan

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3.2.3.4 Home loan

3.3 Repayment limits
3.4 Prepayment of loans
4.0 LOAN DEFAULT PROCESSING IN DHAKA BANK LTD

4.1 Definition of loan default

4.2 Loan monitoring and nursing
4.2.1 Monitoring
4.2.2 Nursing
4.3 Status of loans
4.3.1 Unclassified
4.3.2 Classified
4.3.2.1 Special Mention Account
4.3.2.2 Sub-standard
4.3.2.3 Doubtful
4.3.2.4 Bad & loss
4.4 Objective criteria for loan classification
4.5 Qualitative judgment for loan classification
4.6 Interest and payment maintenance on classified loans
4.6.1 Maintenance of interest suspense account
4.6.2 Treatment of payment received in classified loan account
4.7 Rate of provision
4.8 Calculation of base for provision
4.9 Declassification of loans classified by the bank
4.10 Issuance of notice to the clients for loans to be classified
4.11 Consideration of rescheduling request for classified loans
4.12 Resorting of legal action for recovery of stuck up advances
4.13 Furnishing lists of defaulted browsers to other banks
5.0 SIMULATED CASE FOR LOAN DEFAULT UNDERSTANDING

6.0 BANGLADESH BANK REGULATORY REVIEW

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6.1 Policy guidelines

6.1.1 Lending guidelines
6.1.2 Credit assessment and risk grading
6.1.3 Approval authority
6.2 Procedural guidelines
6.2.1 approval process
6.2.2 Credit administration
6.2.3 Credit monitoring
6.2.4 Credit recovery
7.0 CONCLUSION

8.0 APPENDICES

8.1 Interview 1
8.2 interview 2
9.0 BIBLIOGRAPHY

10.0 REFERENCES

1. INTRODUCTION

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Today ,there are more than 50 government, private and specialized banks in the
country. The banking sector in Bangladesh has achieved a commendable
success in recent times. However default loans, has been a major blow to the
progress of the banking sector and the country as a whole. This report takes an
insight into the loan structure of Dhaka Bank and how Dhaka Bank manages
default loans in its accounting books .
1.1 INCIDENTALS OF AUTHORIZATION AND SUBMITTAL
The report is submitted to Dr. Nazma Ara Hussain, professor of Institute of
Business Administration (IBA), University of Dhaka on December 2, 2009. As per
the authorization, activities regarding this report including information collection,
market scrutiny, personal identification, and report feedback were conducted
and reviewed by all the group members.
1.2 OBJECTIVES OF THE REPORT
The primary objective of this report is the submission of its assignment as a
course work under the Financial Accounting (2) course in IBA. The secondary
objective of the report is to have an overview of how Dhaka Bank treats
defaulted loans in terms of classification, provisioning, recovery,
rescheduling and write off .
1.3 SCOPE OF THE REPORT
This report takes an insight into :
• how Dhaka Bank classifies loans
• how it adjusts for provisions
• what are the related accounting entries
• how it attempts to recover or reschedule loans
• what are the procedures for writeoff
1.4 HISTORICAL BACKGROUND
Dhaka Bank has well defined credit policy based on the guidelines issued by
Bangladesh Bank. But due to unforeseen circumstances some loans are
defaulted every year. Previously related reports have been composed in this
topic, but they lack a simulated case explain the entire scenario. Moreover
previous reports focused on the overall banking practices and not on the specific
accounting procedures regarding loans.
1.5 METHODOLOGY

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The primary sources of information in this report are market study, and direct
interviews with people. The secondary sources are internet, library archive of
IBA, periodicals (mainly Executive Times), and classic economic books.

2. BRIEF OVERVIEW OF DHAKA BANK LTD

Dhaka Bank Limited was established in the year 1995. It was incorporated as a
public limited company under the Companies Act. 1994 and it started its
commercial operation on July 05, 1995.
The Bank has 44 branches, 2 SME Service Centers, 1 Business Center, 2 Offshore
Banking Units across the country to offer a full range of banking and investment
services for personal and corporate customers.
2.1 MISSION STATEMENT
The mission of Dhaka Bank ltd. is to be the premier financial institution in the
country providing high quality products and services backed by latest technology
and a team of highly motivated personnel to deliver Excellence in Banking.
2.2DEPARTMENTS

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3. LOAN STRUCTURE IN DHAKA BANK LTD

A brief overview of the loan structure of the bank is presented below:
3.1 OPERATIONAL CATEGORIES OF LOAN
For operational purpose loans are broadly defined as :
3.1.1 CONTINUOUS LOAN
These loans have no definite repayment schedule ,but a ceiling and an expiry
date. Within the life of the loan a borrower can draw ,make repayments and
redraw money within a ceiling limit. Such loans serve the purpose of short term
financing.Examples: overdrafts, cash credits etc.
3.1.2 DEMAND LOAN
These loans become payable when bank’s demand.It results from a contingent
liability that the maker of a loan incurs. The risk is high for the borrower but
profitable for the bank. Example: forced LIM, PAD, FBP, IBP etc.
3.1.3 FIXED TERM LOAN

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These loans are payable within a fixed period as per a fixed payment schedule.
For these type of loans, the bank determines the payment schedule in
accordance with the volume and risk of the loans.
3.1.4 SHORT TERM AGRICULTURAL LOAN AND MICRO CREDIT
These loans are short term credits enlisted by Agricultural Credit division of
Bangladesh Bank in its ‘annual loan program’ . Loans disbursed in agricultural
sector for a period not more than 12 months are also included in this category.
Short term micro credits are the credits not exceeding BDT 25,000/- (taka twenty
five thousand) only and repayable within twelve months.
3.2 APPLICATION BASED CATEGORIES OF LOAN
Based on the purpose of the loan, loans are classified as follows:
3.2.1 CORPORATE LOANS
Any loan exceeding 1,00,00,000 BDT and issued for business and trade purposes
is defined as corporate loan. Such loans mainly serve the purpose of initials for
the establishment of industry or large scale factory .
3.2.2 SME (SMALL & MEDIUM ENTERPRISE) LOANS
This type of loan is disbursed for business purposes but the amount loaned does
not exceed 1,00,00,000 BDT. The amount loaned here serves the purpose of
potential (partial) working capital for small and medium business ventures.
3.2.3 RETAIL LOANS
Retail loans are given for personal usage rather than for business purposes. It
includes auto laond, personal loan, vacation loan, and home laon
4.MANAGING DEFAULT LOANS IN DHAKA BANK LTD
4.1 DEFINITION OF A DEFAULT LOAN
If a single installment of a term loan is missed, if the payment of continuous loan
is not made on the due date , if the money borrowed as demand loan is not
repaid on demand, the loan will be classified as defaulted in each case
respectively.
4.2 LOAN MONITORING & NURSING
Monitoring involves pusruing the borrower and necessary follow up to ensure
regular payments. Any irregularity in repayment is identified and the necessary
follow-up is taken.
Loan nursing involves guiding the borrower to properly use the loan. If the client
uses the loan for reasons other than mentioned in the loan agreement, the
bank will either pursue the client to rectify the mistake or recall the loan.

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4.3 STATUS OF LOANS

4.3.1 UNCLASSIFIED
These are the loans with which the bank satisfied about repayment. No doubt
exists up till now about their recovery.
4.3.2 CLASSIFIED
These are the loans which the bank finds overdue after the due date. The bank
applies its predefined policy and procedures, after a loan becomes classified.
4.3.1.1 SPECIAL MENTION ACCOUNT
When a loan installment is first missed by the borrower, the loan account is
classified as a Special Mention Account(SMA). The tenure of SMA varies with the
category of loans. From this stage, interest on loan is charged to the Interest
Suspense Account instead of the Income Account.
4.3.1.2 SUB-STANDARD
If a loan is not repayed or reschedule within the SMA period, it becomes sub-
standard loan . From this stage the loan is treated as defaulted. Interest is
treated the same way as in SMA. 4.3.1.3 DOUBTFUL
If a loan is not repayed or reschedule within the sub-standard period , it becomes
a doubtful loanInterest will be treated as before in this stage.
4.3.1.4 BAD & LOSS
If a loan is not repaid or reschedule within the doubtful stage , it is termed as
bad & loss.Serious doubts exist as to the recovery of such loans.

4.4 OBJECTIVE CRITERIA FOR LOAN CLASSIFICATION

Loan CONTINUO DEMAND FIXED TERM LOAN SHORT TERM
classification
US LOAN LOAN TERM TERM LOAN AGRICULTUR
LOAN FOR FOR MORE AL AND
WITHIN 5 THAN 5 MICRO
Stages
YEARS YEARS CREDIT LOAN
SPECIAL Irregular Irregular Irregular Irregular Irregular for 3
MENTION for 3 to 6 for 3 to 6 for 3 to 6 for 3 to 12 to 12 months
ACCOUNT months months months months
SUB- Irregular Irregular Irregular Irregular Irregular for
STANDARD for 6 to 9 for 6 to 9 for 6 to 12 for 12 to 18 12 to 36
months months months months months
DOUBTFUL Irregular Irregular Irregular Irregular Irregular for

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for 9 to 12 for 9 to for 12 to for 18 to 24 36 to 60

months 12 18 months months months
months
BAD & LOSS Irregular Irregular Irregular Irregular Irregular for
for more for more for more for more more than 60
than 12 than 12 than 18 than 24 months
months months months months

4.6 INTEREST AND PAYMENTS ON CLASSIFIED LOANS

a) Interest on loans classified as sub-standard and doubtful are charged on
the account , but instead of being credited to income account; it is credited to
Income Suspense Account.
b) No interest on loans classified as bad & loss will be charged on the account.
However, when suit will be filed to recover the loan, interest upon filing of such
suit will be charged on the account and suit will be filed for the outstanding
amount including interest. Such charged interest will also be credited to
Interest Suspense Account.
4.6.2 MAINTENANCE OF INTEREST SUSPENSE ACCOUNT
Though interest on loans classified as bad & loss may not be charged on the
account, branches should calculate interest on monthly basis to charge it to
Interest Receivables on Classified Loans account and credit to Interest
Suspense account ,but it is not entered into the accounting books. Amount wise
record of such interest will be maintained and monthly proof will be prepared to
confirm it with the ledger balance.
4.6.3 TREATMENT OF PAYMENT RECEIVED IN CLASSIFIED LOAN
ACCOUNT
Whenever any payment is received in respect of any classified loan account, the
order of application will be as follows:
a) To uncharged interest, if any
b) To interest charged but credited to interest suspense account and
c) To principal
However, if any partial payment is received on account of a classified loan
account for rescheduling, branches will keep the amount not yet paid in the
Accounts Rceeivable – Classified loan instead of applying the fund out right
to adjustment as stated above. For such adjustment, branches should seek

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permissions from the head office and verify & report the necessary data for the
final decision of the head office.
Explain what provision is
PROVISIONING
Provision on loans is analogous to adjustment for doubtful accounts.Provisioning
is maintained at branch levels. This is followed inorder apply the Matching
Principle and Expense & loss Recognition Principle that suggest the
recording of a probable loss account to be adjusted in the period it operates and
is assumed to occur. For every provisioning, each branch debits Income
Account and credits Provision against loans to better match expense with
revenue and show the effects by reducing income for any given period. And after
the actual write off, the Loss Account will be rebounded to the entry which
debits Provision against loans and credits loss account.

4.7 RATE OF PROVISION

Provision will be provided against all types of loans including short term
agricultural and micro credit at the following rates:

PROVISION AGAINSTLOANS a) For unclassified loans

1%
BAD& LOSS b) For special mention
DOUBTFUL account
5%
SUB-STANDARD
c) For loans classified as
SPECIAL MENTION ACCOUNT sub-standard
UNCLASSIFIED 20%
d) For loans classified
0 20 40 60 80
(PERCENTAGE) 100 120doubtful
as
50%
PROVISION AGAINST LOANS

Provisioning rate against short term agricultural and micro credit will be as
follows:
a) For irregular, unclassified, sub-standard and doubtful loans 5%
b) For loans classified as bad & loss
100%
4.8 CALCULATION OF BASE FOR PROVISION

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To determine the required amount of provision, the amount to be charged for

provision (base for provision) will be arrived at first by deducting the interest
suspense account and the value of eligible security from the outstanding
amount of loan. However, for unclassified loans the base for provision will equal
the outstanding amount of the loan.
4.9 DECLASSIFICATION OF LOANS CLASSIFIED BY THE BANK
A loan classified by any branch may be declassified upon its recovery or
rescheduling. A rescheduled loan will be classified again if any of the terms of
rescheduling is unsatisfied and such rescheduling will be computed with
retrospective effect from the date of rescheduling. However, once the loan is
declassified on the basis of qualified judgment, branches may declassify the
amount with the prior permission from the head office on the ground that the
conditions for which classification was made has materially been improved and
that no adverse situation exists.
A loan classified by Head Office inspection team/ credit division will only be
declassified with prior permission from the respective authority.
A loan classified by Bangladesh Bank Inspection Team will be declassified
either after obtaining permission from Bangladesh Bank or during the next
inspection by Bangladesh Bank.
4.10 ISSUANCE OF NOTICE TO THE CLIENT FOR LOANS TO BE CLASSIFIED
As per the Bangladesh Bank directives, Dhaka Bank ltd. has to issue a prior
notice to the concerned client (borrower) at least one month before the date of
treating each of the outstanding loans as classified/ overdue. Bangladesh Bank
has a suggested specimen of such a notice to be followed and notified by the
bank.
4.11 CONSIDERATION OF RESCHEDULING REQUEST FOR CLASSIFIED
LOANS
Any rescheduling request has to be approved by Head Office. For consideration
of rescheduling request of the client, the client has to deposit minimum 1% of
the total overdue amount. In this case, amount of interest not charged to the
account for a bad & loss situation will be included for defining the outstanding
overdue.
As per the Bangladesh Bank Directives, a decision has to be conveyed to the
client within three months from the date when the rescheduling request was
received. Therefore, branches must forward rescheduling request to Head Office

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within 15 (fifteen) days from the date of receipt of the request along with the
branch’s opinion on the proposal and recommendation as per the situation of the
claim.
4.12 RESORTING TO LEGAL ACTION FOR RECOVERY OF STUCK-UP
ADVANCES
Branches can initiate the legal procedures only when they are assured that the
classified loan will not be recovered through persuasion alone .For initiating legal
action branch shall obtain prior permission from Head Office. Request for such
permission should indicate desired nature of legal action to be initiated and the
request should accompany a resume of the account. While initiating legal action
a careful consideration shall be made to take all the “off-ledger” interest
elements of the account and that all the concerned persons have been involved
with such action. As soon as the legal action is initiated, it will be circulated to
Head office along with all the particulars of such action. Legal expenses incurred
will be charged to prepaid expenses (legal action).
At present following legal recourses are available for recovery of bank dues

• Filing money suit/title suit under Artha Rin Adalat act-1990

• Filing bankruptcy case under Bankruptcy Act-1997
• Filing of certificate case under Public Demands Recovery Act- 1913
• Filing criminal case for breach of trust under section 406/420 of
Bangladesh Penal code
• Filing of summary procedure suit under civil procedure act

It is very important to note that filing of a suit is only a start of a lengthy legal
process and branches have to make necessary arrangement to follow-up and
monitor the progress of the suit so as to ease the disposal of the suit. It is quite
normal that the borrower may resort to different tactics to delay the procedure
and branches must be vigilant to protect the banks. It shall be the particular
responsibility of the branch manager to ensure proper monitoring and
supervision of the legal proceedings so as to protect the bank’s interest.
4.13 FURNISHING LISTS OF DEFAULTED BORROWERS TO OTHER BANKS
Branches under the authorization of the Head Office have to circulate the list of
defaulting borrowers to Bangladesh Bank or other banks and financial institutes.
This ensures that other banks will not extend credits to any previous loan
defaulters.
THE ACTUAL WRITE-OFF

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When Dhaka Bank fails to recover some portion of the defaulted loan because of
getting a cash amount less than the outstanding loan amount from selling the
security, it writes off the rest of the loan amount. For this write off, it debits a
loss account and credits the Accounts Receivable-classified loan for the
amount left after making adjustments to recover the outstanding loan.

5. SIMULATED CASE FOR LOAN DEFAULT UNDERSTANDING

Mr. Shourav Kobra is a client of Dhaka Bank ltd. .On July 1, 2003 Mr. S. Kobra was
given a continuous loan of 10,00,000 BDT ,at 12% interest incurred on it ,to be
matured within 1 year.
On June 30, 2004 the bank found that Mr. S. Kobra did not repay the loan. The
bank immediately took steps to notify and persuade Mr. S. Kobra to repay the
loan within the next seven days.
Mr. S. Kobra still did not repay the loan money within six months (from July 1,
2004 to December 30, 2004) of crossing the deadline . The bank records
proceeded and one year passed since the maturity date (from July 1, 2004 to
June 30, 2005).
Upon this unexpected incident, the bank started operating at a bad & loss for
another six months (from July 1, 2005 to December 30, 2005). Mr. Kobra
requested the bank to judge his condition on a qualified basis and requested the
bank to declassify his account on a partial repayment. The bank agreed and
rescheduled his account for another one year (the year 2006). After one year
had passed, the bank again found his account defaulted. It operated on a
classified basis for another year (for the year 2007) and heard that Mr. S. Kobra
was declared bankrupt after operating on a bad & loss stage for another six
months (for the first half of 2008). The bank wrote off the whole outstanding loan
amount immediately after hearing this (on July 1, 2008).
It is known that Dhaka Bank ltd. operates on a calendar year basis.
For the first transaction, Dhaka Bank ltd. will make the following entry:
Loan account- Mr. S. Kobra dr. 10,00,000
Cash Account cr.
10,00,000

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After the loan disbursement, the bank calculates interest revenue earned on its
given loan on a monthly basis (as per the loan terms assumed). It records
interest for each of the following 12 months in the following way:
Loan Account- Mr. S. Kobra dr. 10,000
Income Account cr. 10,000
After the passage of the maturity date, the bank classifies the loan money as a
special mention account. For the next six months, the bank records the
calculation of interest for each month in the following way:
Loan Account- Mr. S. Kobra dr. 10,000
Interest Suspense Account cr.
10,000
This records will also be applicable for the next six months in the sub-standard
and doubtful stages.
When 12 months pass after the maturity date, the bank starts to treat the loan
as bad & loss . No entry will be given for the interest calculation at this stage
that is six months.
As per the rescheduling request, the bank calculates the loan outstanding on:
The principal 10,00,000
Interest counted for the first year 1,20,000
Total outstanding after 1 year 11,20,000
Interest counted for the first 3 classified
levels consisting of 1 year 1,20,000
Total outstanding loan after 2 years 12,40,000
Interest counted but not recorded
for the bad & loss stage 60,000
Total outstanding after 2 and half years 13,00,000
Now, for rescheduling request for Mr. S. Kobra, the bank will record the entry for
the partial payment and outstanding receivable account.
For the partial payment:
Cash Account dr. 8,00,000
Loan account- Mr. S. Kobra cr. 8,00,000
For the outstanding accounts receivable amount:
Acoounts Receivable- classified loan dr. 5,00,000
Loan account- Mr. S. Kobra cr. 5,00,000

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After the declassification of the loan, the bank will again record the interest on a
monthly basis for the next 12 months in the following way:
Acoounts Receivable- classified loan dr. 5,000
Income account cr. 5,000
For the reclassification of the loan, the bank records interest for the next one
year on a monthly basis in the following way:

Acoounts Receivable- classified loan dr. 5,000

Interest suspense account cr. 5,000
For the bad & loss stage it will not record any entry for interest.
However, after another two and half years, the bank finds its loan amount of
Mr. S. Kobra as outstanding for 5,00,000 + (5,000 * 30) = 6,50,000. Now, the
bank hears about the bankruptcy of Mr. S. Kobra and so writes off the account as
follows:
Loss on classified loans dr.
6,50,000
Acoounts Receivable- classified loan cr.
6,50,000
It becomes clear from the above accounts that Dhaka Bank ltd. does not
maintain the names of accounts as suggested in the classic financial accounting
books.

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6. BANGLADESH BANK REGULATORY REVIEW

Bangladesh Bank as a regulatory body imposes some rules and regulations on
the loan default management of Dhaka Bank ltd. The guidelines Dhaka Bank ltd,
has to follow are of the following two categories:
6.1 POLICY GUIDELINES
These are the guidelines that dictate the boundary of the entire credit and loan
default policy of Dhaka Bank ltd. These fundamental credit risk management
guidelines have three important parameters:
6.1.1 LENDING GUIDELINES
Dhaka bank has some lending guidelines approved as per the consent of
Bangladesh Bank. These have to be approved by the Managing Director/ CEO
and the Board of Directors so that there will not be any avoidance of the
approvals. These guidelines actually set up the criteria for purpose preference,
sector preference, personality preference etc.
6.1.2 CREDIT ASSESSMENT AND RISK GRADING
As per the rules of Bangladesh Bank, each and every credit proposal will be
assessed by Relationship Manager/ account officer and then approved by
the Credit Risk Management Department.
The grading schedule is given below:

GRADED LOANS GRADES

SUPERIOR 1
GOOD 2
ACCEPTABLE 3
MARGINAL 4
SPECIAL MENTION 5
DOUBTFUL & BAD 6
LOSS 7

6.1.3 APPROVAL AUTHORITY

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According to the rules of Bangladesh Bank, Dhaka Bank has to delegate the
whole authority of credit approval to senior credit executives by the Managing
Director/ CEO. The credit approval authority is delegated on the basis of the
executives’ technical expertise.

6.2 PROCEDURAL GUIDELINES

This section outlines the main procedures that are needed to ensure compliance
with the policies containing the guidelines stated above. These guidelines
contain the following major fundamentals:
6.2.1 APPROVAL PROCESS
This initial process of credit approval must be done by the co-operation of
Relationship management and Credit Risk Management of Dhaka Bank ltd.
Caution must be adopted when reviewing credit proposals in terms of their credit
risk coverage.
6.2.2 CREDIT ADMINISTRATION
This step consists of activities of loan disbursement and its other considerations
such as preferential judgment for any compliance request, modification
of the entire loan giving process, and compliance requirements.
6.2.3 CREDIT MONITORING
Dhaka Bank has to impose early alert process in accordance with the
Bangladesh Bank regulations so as to make sure that any loan default can be
traced within the shortest possible time.
6.2.4 CREDIT RECOVERY
This side is mainly concerned with the recovery of the disbursed and defaulted
loans. The activities of notification, seeking permission from Head Office for
necessary judgments, claiming on suit etc are covered in this side.

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7. CONCLUSION : A loan is a product/service that a bank sells to its customers whereas a

defaulted loan is analogous to a doubtful account against a product sold or a service provided.
In Bangladesh defaulted loan has become a major issue since huge amounts of loans are
defaulted in local private commercial banks per year. To cope with this challenge banks
follow some predefined and quite similar guidelines circulated by Bangladesh Bank. Here in
this report, it is shown that how Dhaka Bank ltd. as a representative of the entire commercial
banking sector in Bangladesh applies a strict credit policy covering accounting practices
concerned with defaulted loans, the types of loans, classifications of loans, subsequent legal
procedures and the actual write off. The report also shows that the decisions to extend loans
and maintain their coverage actually lie at the discretion of the management committee. It
also shows that how its profit maximization coincides with its risk grading.

8. APPENDICES

8.1 INTERVIEW 1

8.2 INTERVIEW 2

BIBLIOGRAPHY

Internship report references (IBA):

 IBA library 133-08/M, by Shabbir Nazmuddin MBA 40 D Roll 50

 IBA library 113-07/M, by Rubaba Navera Sayeed MBA 39 D Roll 01

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 IBA library 082-05/F, by Md. Ashraful Alam MBA 37E Roll 04

Books:

Lesikar, Raymond V., Flatley, Marie E. and Rentz, Katherine, “Business

Communication: Making Connections in a Digital World”, 2008

Accounting Principles, Roger H. Hermanson, James Don Edwards, R.F. Salmonson,

special edition

Websites:

www.google.com

www.wikipedia.org

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10. REFERENCES

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