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Audited Financial Statements

Balance Sheet

As at March 31, 2018
Currency - Myanmar Kyats (MMK)

  31 Mar 2018 31 Mar 2017
ASSETS
Cash on hand 182,515,562 314,891,012
Balances with other banks 495,044,192 2,057,361,344
Loans and advances to customers 32,118,918,174 20,975,180,424
Other assets 1,828,400,332 1,177,306,818
Property and equipment 122,600,255 29,489,015
Intangible assets 1,674,400 -
Total assets 34,749,152,915 24,554,228,613
LIABILITIES
Due to other banks - -
Deposits from customers 34,749,152,915 1,020,426,851
Other liabilities 643,264,280 306,635,004
Borrowings 643,264,280 11,197,500,000
Provision for income tax 1,045,291,278 596,601,529
Total liabilities 20,325,638,460 13,121,163,384
EQUITIES
Capital – value per share K1,000
      Authorised - 8,000,000 shares
8,000,000,000
Share capital 8,000,000,000 8,000,000,000
Retained earning 4,817,635,840 2,574,798,921
Reserves 1,605,878,615 858,266,308
Total equities 14,423,514,455 11,433,065,229
Total liabilities & equities 34,749,152,915 24,554,228,613

Income Statement

For the year ended March 31, 2018
Currency - Myanmar Kyats (MMK)

FINANCIAL INCOME 31 Mar 2018 31 Mar 2017
Interest incomes 8,303,899,078 4,644,605,736
Interest expenses (2,329,598,126) (846,764,242)
Net interest incomes 5,974,300,952 3,797,841,494
Provision for loan losses (362,707,350) (8,781,379)
Net interest income after provision for loan losses 5,611,593,602 3,789,060,115
Fee and commission incomes 522,265,251 292,751,628
Fee and commission expenses (139,679,060) (84,405,001)
Net fee and commission income 382,586,191 208,346,627
Other incomes 308,922,910 509,676,396
Personnel Costs (1,573,160,039) (1,531,791,813)
Administrative and operating expenses (655,491,785) (531,196,338)
Foreign exchange translation 4,216,027 (14,946,620)
Depreciation and amortisation (41,316,140) (42,742,259)
  (1,956,829,027) (1,611,000,634)
Profit/(loss) before income tax 4,037,350,766 2,386,406,108
Income tax expense (1,046,901,540) (625,988,268)
Net profit/(loss) for the year 2,990,449,226 1,760,417,840

Note: These financial statements are audited by Win Thin & Associates.

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