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Financial Statements for April 2014


Balance Sheet (Unaudited)
April 30, 2014

Description Amounts in USD
Assets  
Total cash 286,086
Cash - MMK 274,984
Cash - USD 11,102
Bank deposits 2,600,393
ST Deposit with MICB 519,751
Deposit with MICB & other banks 2,080,642
Gross loan assets 5,753,303
Loan assets MMK 5,753,303
Less specific provision -
Net loan assets 5,753,303
Prepayment and int. receivable 228,823
Prepayment 143,837
Interest receivable - MMK 84,986
Interest receivable - USD -
Other assets 2,265
Investment -
Total fixed assets 506,682
Other tangible assets 506,682
Accu. depre-building & tangible assets (165,518)
Net fixed assets 341,164
Total assets 9,212,036
Liabilities  
Total deposits 160,279
Withholding tax 11,323
Accrued expenses and other liabilities 1,066,720
Health insurance fund 1,768
General provision on loan 57,533
Staff pension fund -
Total liabilities 1,297,623
Equity  
Share capital 8,316,008
Position account foreign exchange -
Retained earning previous period (347,190)
Net income current year (54,406)
Total equity 7,914,412
Inter-branch balance -
Total liabilities & equity 9,212,036

Income Statement (Unaudited)
April 30, 2014

Description Amounts in USD
Interest on micro 1 business loan 31,332
Interest on micro 2 business loan 108,030
Interest on micro 3 business loan 383
Interest on bank deposit 3,418
Total interest income 143,163
Loan fee 2,069
Income from sale of check book 1,402
Service chrg/penalty saving 316
Miscellaneous income 7
Total other revenues 3,795
Total financial income 146,958
Financial cost  
Interest expense on debts- MMK -
Interest expense on debts - USD -
Interest on deposits 1,396
Total financial cost 1,396
Gross financial result 145,562
Loan loss expense (5,812)
Provision for loan - MMK (5,812)
Provision for accrued interest -
Currency translation expenses (716)
Financial margin 139,035
Operational cost  
Total salaries 102,796
Health insur. & social welfare fund exp. 4,410
Other insurance expenses 589
Employee train-work related expenses 30,749
Depreciation expenses 13,802
Purchases of FF and equipments 2,358
Motor vehicle operating expenses 310
Repair and maint exp-FF and equipment 158
Publicity expenses 7
Advertising and promotion expense 2,002
Rentals charges 15,395
Contribute to employee pension fund 1,648
Employee uniform expense 1,176
Other employee expenses 792
Bank charges 348
Office supplies 3,119
Other miscellaneous expenses 359
Printing & forms expenses 1,720
Other taxes expenses -
Telecommunication charges 811
Travel charges 7,437
Utilities charges 261
Bank license fees 693
External advice / audit fee -
Board of director expenses 2,500
Total administrative expense 193,441
Pre-tax financial income (54,406)
Tax on P&L on ordinary activities -
Net profit (loss) after taxes (54,406)
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