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Financial Statements for February 2014


Balance Sheet (Unaudited)
February 28, 2014

Description Amounts in USD
Assets  
Total cash 167,734
Cash - MMK 161,971
Cash - USD 5,763
Bank deposits 4,285,207
ST Deposit with MICB 508,130
Deposit with MICB & other banks 3,777,077
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 4,000,789
Loan assets MMK 4,000,789
Less specific provision -
Net loan assets 4,000,789
Prepayment and int. receivable 226,562
Prepayment 166,013
Interest receivable - MMK 60,549
Interest receivable - USD -
Other assets 27,024
Investment -
Total fixed assets 491,350
Intangible assets -
Accu. amortization-intangible assets -
Land -
Building -
Other tangible assets 491,350
Accu. depre-building & tangible assets (134,740)
Net fixed assets 356,610
Total assets 9,063,928
Liabilities  
Total deposits 143,666
Withholding tax 6,486
Accrued expenses and other liabilities 1,168,582
Health insurance fund 1,188
General provision on loan 40,008
Staff pension fund -
Total liabilities 1,359,930
Equity  
Share capital 8,130,081
Position account foreign exchange -
Capacity building (grant by ACL) -
General reserves -
Retained earning previous period 640,350
Net income current year 214,267
Total equity 7,703,998
Inter-branch balance -
Total liabilities & equity 9,063,928

Income Statement (Unaudited)
February 28, 2014

Description Amounts in USD
Interest on micro 1 business loan 19,104
Interest on micro 2 business loan 64,008
Interest on micro 3 business loan 435
Interest on personal loan -
Interest on bad & doubtful loans 4
Interest on bank deposit 4,416
Total interest income 88,012
Commission received on remittance -
Western union -
Loan fee 1,222
Payroll service -
Foreign currency exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 1,453
Service chrg/penalty saving 350
Consultancy incomes -
Miscellaneous income 7
Recovery on loan prev chrg-off -
Total other revenues 3,032
Total financial income 91,044
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 977
Total financial cost 977
Gross financial result 90,067
Loan loss expense (7,311)
Provision for loan - MMK (7,311)
Provision for loan - USD -
Provision for loan - THB -
Provision for accrued interest -
Currency translation expenses (862)
Financial margin 81,894
Operational cost  
Total salaries 96,854
Health insur. & social welfare fund exp. 4,024
Other insurance expenses 742
Employee train-work related expenses 20,959
Depreciation expenses 12,399
Purchases of FF and equipments 3,788
ATM/credit card expenses -
Motor vehicle operating expenses 205
Repair and maint exp-FF and equipment 264
Publicity expenses 15
Advertising and promotion expense 133
Rentals charges 15,051
Contribute to employee pension fund (12)
Employee uniform expense 740
Other employee expenses 4,677
Litigation Expense -
Bank charges 206
Fees & commission paid to bank -
Swift expense -
Office supplies 2,072
Other miscellaneous expenses 992
Printing & forms expenses 1,337
Other taxes expenses -
Telecommunication charges 1,590
Travel charges 6,257
Utilities charges 1,092
Disposal of fixed assets -
Bank license fees 1,835
External advice / audit fee 68
Board of director expenses 1,003
Total administrative expense 176,292
Pre-tax financial income (94,397)
Tax on P&L on ordinary activities -
Net profit (loss) after taxes (94,397)
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