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Financial Statements for November 2014


Balance Sheet (Unaudited)
November 28, 2014

Description Amounts in USD
ASSETS  
Total cash 94,534
Cash - MMK 94,480
Cash - USD 54
Bank deposits 12,714
ST Deposit with MICB -
Deposit with MICB & other banks 12,714
CBM reserve requirement -
Gross loan assets 8,752,621
Loan assets MMK 8,752,621
Less specific provision (293)
Net loan assets 8,752,328
Prepayment and int. receivable 193,880
Prepayment 71,022
Interest receivable - MMK 122,858
Interest receivable - USD -
Other assets 1,628
Investment -
Total fixed assets 484,539
Other tangible assets 484,539
Accu. depre-building & tangible assets (250,506)
Net fixed assets 234,033
Total assets 9,289,116
LIABILITIES  
Total deposits 221,328
Withholding tax 27,516
Accrued expenses and other liabilities 822,171
Health insurance fund 4,960
General provision on loan 175,036
Staff pension fund -
Total liabilities 1,251,009
EQUITY  
Share capital 7,782,101
Position account foreign exchange -
Retained earning previous period (326,524)
Net income current year 582,529
Total equity 8,038,107
Inter-branch balance -
Total liabilities & equity 9,289,116

Income Statement (Unaudited)
November 28, 2014

Description Amounts in USD
Interest on micro 1 business loan 38,571
Interest on micro 2 business loan 175,930
Interest on micro 3 business loan 122
Interest on personal loan -
Interest on bad & doubtful loans 161
Interest on bank deposit -
Total interest income 214,785
Loan fee 10,893
Others commission income -
Income from sale of check book 1,389
Service chrg/penalty saving 990
Miscellaneous income 0
Total other revenues 13,273
Total financial income 228,058
Financial cost  
Interest expense on debts - MMK -
Interest expense on debts - USD -
Interest on deposits 2,507
Total financial cost 2,507
Gross financial result 225,551
Loan loss expense (4,463)
Provision for loan - MMK (4,463)
Currency translation expenses (12,428)
Financial margin 208,653
Operational cost  
Total salaries 110,446
Health insur. & social welfare fund exp. 2,851
Other insurance expenses 327
Employee train-work related expenses -
Depreciation expenses 13,254
Purchases of FF and equipments 417
Motor vehicle operating expenses 482
Repair and maint exp-FF and equipment 65
Publicity expenses 14
Advertising and promotion expense -
Rentals charges 14,581
Contribute to employee pension fund 1,728
Employee uniform expense 1,232
Other employee expenses 273
Bank charges 59
Fees & commission paid to bank -
Swift expense -
Office supplies 1,434
Other miscellaneous expenses 4,486
Printing & forms expenses 1,832
Other taxes expenses -
Telecommunication charges 913
Travel charges 7,327
Utilities charges 524
Disposal of fixed assets -
Bank license fees 649
External advice / audit fee 5,618
Board of director expenses 2,482
Total administrative expense 170,994
Profit before capacity building grants 37,659
Capapcity building grants income (IFC) -
Capapcity building grants income (KfW) -
Capapcity building grants income (COFIBRED) -
Profit after capacity building grants 37,659
Tax on P&L on ordinary activities 12,522
Net profit (loss) after taxes 25,137
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