Vishal - Corporate

Hi,

I have fulfilled a multitude of different tasks recently. The most significant has been the completion of my own credit report. This task is not commonly carried out by junior analysts. However, the bank favours the need to challenge graduates. I am very grateful for the opportunities I have had to complete credit proposals as this is something that will become an integral part of my role as my career progresses.

The report I wrote, relates to a connection that has been with Bank of Scotland for many years. Originally, Bank of Scotland and a syndicate bank assisted a private equity partner in acquiring this business from its Plc parent. The business was then split in two. When this occurred, Bank of Scotland provided debt to one of the businesses and the syndicate bank funded the other business. In 2006, the business was further disbanded when the private equity house realised the value of the company through a sale. The various factions were sold to some international Plc's. Bank of Scotland still continues to provide banking to the businesses and my report was concerned with the renewal of facilities for their forthcoming financial year.

Before writing the report I had to complete numerous tasks some of which are listed below:

• Conduct research into the companies and their respective Plc parents
• Investigate the sector in which the businesses operate.
  
• Analyse financial performance from the past, present and future using a combination of audited accounts, management accounts and forecasts.
  
• Examine management structures and evaluating the competencies of key management.
• Carry out financial modelling to assess viability.

This information was then used to collate my report. I was very pleased to receive confirmation from credit sanctioning that my report had been approved and that the sanctioner's felt my report style was good.

Since my last blog, I used my relocation allowance to make another trip to Edinburgh in order to secure accommodation before the commencement of my next placement. I saw some potential flats on the internet on Monday, booked a day off with my line manager on Tuesday, arranged my flights on Wednesday and went to Edinburgh on Thursday. On the way to the city from the airport 2 of the 5 viewings I arranged cancelled as the flats went that morning! Of the other 3, the first one I saw was not even fit for students to live in. The next one I saw was perfect, it was literally a stones throw away from work. Unfortunately the vendor had 17 people, including myself, interested in the place. In the end, he picked out of a hat and it wasn’t meant to be. Just as I was losing all hope I went to see the last place. Though not a 5min walk from work this flat is a respectable 15min walk away. The flat has recently been refurbished and is within my budget so I decided to take it.

I am now looking forward to starting work in Edinburgh and my next blog will be posted once I am there!