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Financial Statements for December 2013


Balance Sheet (Unaudited)
December 31, 2013

Description Amounts in USD
Assets  
Total cash 388,625
Cash - MMK 381,247
Cash - USD 7,378
Bank deposits 5,461,277
ST Deposit with MICB 1,005,066
Deposit with MICB & other banks 4,456,211
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 2,613,115
Loan assets MMK 2,613,115
Less specific provision -
Net loan assets 2,613,115
Prepayment and int. receivable 212,569
Prepayment 173,393
Interest receivable - MMK 39,177
Interest receivable - USD -
Other assets 26,883
Investment -
Total fixed assets 478,512
Land -
Building -
Other tangible assets 478,512
Accu. depre-building & tangible assets (108,411)
Net fixed assets 370,101
Total assets 9,072,569
Liabilities  
Total deposits 118,727
Withholding tax -
Total liabilities 1,223,979
Equity  
Share capital 8,105,370
Position account foreign exchange -
Capacity building (grant by ACL) -
General reserves -
Retained earning previous period 641,832
Net income current year 385,053
Total equity 7,848,591
Inter-branch balance -
Total liabilities & equity 9,072,569

Income Statement (Unaudited)
December 31, 2013

Description Amounts in USD
Interest on micro 1 business loan 15,028
Interest on micro 2 business loan 44,103
Interest on micro 3 business loan 572
Interest on personal loan -
Interest on bad & doubtful loans -
Interest on bank deposit 3,729
Income on investment and trading securities -
Total interest income 63,433
Commission received on remittance -
Western union -
Loan fee 735
Payroll service -
Foreign currency exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 861
Service chrg/penalty saving 564
Consultancy incomes -
Miscellaneous income 460,750
Recovery on loan prev chrg-off -
Total other revenues 462,911
Total financial income 526,344
Financial cost  
Interest expense on debts- MMK -
Interest expense on debts - USD -
Interest expense on debts - THB -
Interest expense on debts - EUR -
Interest on deposits 756
Total financial cost 756
Gross financial result 525,588
Loan loss expense 14,235
Provision for loan - MMK 14,235
Provision for loan - USD -
Provision for loan - THB -
Provision for accrued interest -
ATM/credit card provision expense -
Currency translation expenses (1,134)
Financial margin 538,689
Operational cost  
Total salaries 97,865
Health insur. & social welfare fund exp. 1,496
Other insurance expenses 440
Employee train-work related expenses 54,001
Depreciation expenses 14,860
Purchases of FF and equipments 4,080
ATM/credit card expenses -
Motor vehicle operating expenses 156
Repair and maint exp-FF and equipment 1,050
Publicity expenses 2,709
Advertising and promotion expense 1,416
Other employee expenses -
Litigation Expense -
Bank charges 6
Fees & commission paid to bank -
Swift expense -
Office supplies 2,578
Other miscellaneous expenses 519
Printing & forms expenses 1,756
Other taxes expenses -
Telecommunication charges 1,303
Travel charges 8,898
Utilities charges 2,281
Disposal of fixed assets -
Bank license fees 1,878
External advice / audit fee 2,008
Board of director expenses 6,995
Total administrative expense 222,944
Pre-tax financial income 315,745
Tax on P&L on ordinary activities -
Net profit (loss) after taxes 315,745
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