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Financial Statements for August 2014


Balance Sheet (Unaudited)
August 31, 2014

Description Amounts in USD
ASSETS  
Total cash 96,747
Cash - MMK 96,717
Cash - USD 30
Bank deposits 193,986
ST Deposit with MICB -
Deposit with MICB & other banks 193,986
CBM reserve requirement -
Gross loan assets 8,708,835
Loan assets MMK 8,708,835
Less specific provision -
Net loan assets 8,708,835
Prepayment and int. receivable 220,730
Prepayment 88,925
Interest receivable - MMK 131,805
Interest receivable - USD -
Other assets 2,092
Investment -
Total fixed assets 510,469
Other tangible assets 510,469
Accu. depre-building & tangible assets (221,462)
Net fixed assets 289,006
Total assets 9,511,396
LIABILITIES  
Total deposits 216,551
Withholding tax 28,151
Accrued expenses and other liabilities 685,650
Health insurance fund 2,365
General provision on loan 87,088
Staff pension fund -
Total liabilities 1,019,806
EQUITY  
Share capital 8,247,423
Position account foreign exchange -
Retained earning previous period (346,048)
Net income current year 590,215
Total equity 8,491,590
Inter-branch balance -
Total liabilities & equity 9,511,396

Income Statement (Unaudited)
August 31, 2014

Description Amounts in USD
Interest on micro 1 business loan 42,061
Interest on micro 2 business loan 178,556
Interest on micro 3 business loan 219
Interest on personal loan -
Interest on bad & doubtful loans -
Interest on bank deposit -
Total interest income 220,836
Loan fee 7,927
Others commission income -
Income from sale of check book 1,604
Service chrg/penalty saving 738
Miscellaneous income 54
Total other revenues 10,323
Total financial income 231,159
Financial cost  
Interest expense on debts - MMK -
Interest expense on debts - USD -
Interest on deposits 2,237
Total financial cost 2,237
Gross financial result 228,922
Loan loss expense (3,353)
Provision for loan - MMK (3,353)
Currency translation expenses 1,518
Financial margin 227,086
Operational cost  
Total salaries 117,417
Health insur. & social welfare fund exp. 2,604
Other insurance expenses 325
Employee train-work related expenses -
Depreciation expenses 14,371
Purchases of FF and equipments 1,008
Motor vehicle operating expenses 428
Repair and maint exp-FF and equipment 238
Publicity expenses 33
Advertising and promotion expense -
Rentals charges 15,573
Contribute to employee pension fund 1,767
Employee uniform expense 746
Other employee expenses 96
Bank charges 25
Fees & commission paid to bank -
Swift expense -
Office supplies 1,694
Other miscellaneous expenses 636
Printing & forms expenses 2,057
Other taxes expenses -
Telecommunication charges 788
Travel charges 6,034
Utilities charges 464
Disposal of fixed assets -
Bank license fees 687
External advice / audit fee -
Board of director expenses 2,503
Total administrative expense 169,494
Profit before capacity building grants 57,592
Capapcity building grants income (IFC) -
Capapcity building grants income (KfW) 200,975
Capapcity building grants income (COFIBRED) 400,412
Profit after capacity building grants 658,979
Tax on P&L on ordinary activities -
Net profit (loss) after taxes 658,979
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