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Financial Statements for October 2015


Balance Sheet (Unaudited)
October 31, 2015

Description Amounts in USD
ASSETS  
Total cash 78,217
Cash - MMK 61,729
Cash - USD 16,488
Bank deposits 1,976
Deposit with other banks 1,298
ST Deposit with other banks -
Current Deposit with other banks 1,298
Deposit with central bank 678
ST Deposit with MICB -
Current Deposit with MICB 678
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 7,916,250
Micro1 Business Loan 1,014,708
Micro2 Business Loan 6,901,326
Micro3 Business Loan 216
Personal Loan -
Less specific provision (216)
Net loan assets 7,916,034
Prepayment and int. receivable 472,349
Prepayment 347,501
Interest receivable - MMK 124,848
Interest receivable - USD -
Other assets 1,858
Total fixed assets 403,067
Intangible assets -
Accu. amortization-intangible assets -
Tangible assets 403,067
Accu. depre-building & tangible assets (328,007)
Net fixed assets 75,060
Total assets 8,545,494
LIABILITIES  
Total deposits 303,360
Withholding tax 14,180
Accrued expenses and other liabilities 675,491
Health insurance fund 4,890
General provision on loan 158,321
Staff pension fund -
Total liabilities 1,156,242
EQUITY  
Share capital 6,264,683
Capacity Building (Grant by ACL) -
General Reserves 128,765
Retained earning previous period 386,295
Currency translation reserve (20,539)
Net income current year 630,049
Total equity 7,389,252
Inter-branch balance -
Total liabilities & equity 8,545,494

Income Statement (Unaudited)
October 31, 2015

Description Amounts in USD
Interest on micro1 business loan 26,554
Interest on micro2 business loan 177,056
Interest on micro3 business loan 2
Interest on personal loan -
Interest on bad & doubtful loans 179
Interest on bank deposit -
Income on investment and trading securities -
Total interest income 203,790
Commission received on remittance -
Western Union -
Loan fee 12,118
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 425
Service chrg/penalty saving 270
Consultancy incomes -
Miscellaneous income -
Recovery on loan prev chrg-off -
Total other revenues 12,813
Total financial income 216,602
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 3,780
Total financial cost 3,780
Gross financial result 212,822
Loan loss expense (1,847)
Provision for loan - MMK (1,847)
Provision for loan - USD -
Provision for loan - THB -
Provision for accrued interest -
ATM/Credit card provision expense -
Currency translation expenses 387
Financial margin 211,362
Operational cost  
Total salaries 31,918
Health insur. & social welfare fund exp. 1,999
Other insurance expenses 290
Employee train-work related expenses 143
Depreciation expenses 11,062
Purchases of FF and equipments -
ATM/Credit card expenses -
Motor vehicle operating expenses 230
Repair and maint exp-FF and equipment 157
Publicity expenses 31
Advertising and promotion expense 63
Rentals charges 12,452
Contribute to employee pension fund 1,558
Employee uniform expense 1,275
Other employee expenses 581
Litigation expenses -
Bank charges -
Fees & commission paid to bank -
Swift expense -
Office supplies 786
Other miscellaneous expenses 990
Printing & forms expenses 775
Other taxes expenses -
Telecommunication charges 675
Travel charges 2,940
Utilities charges 878
Disposal of fixed assets -
ACLEDA Bank MSA 66,717
Bank license fees 522
External advice / audit fee -
Board of director expenses 2,505
Total administrative expense 138,549
Profit before capacity building grants income 72,813
Capapcity building grants income (IFC) -
Capapcity building grants income (KfW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 72,813
Income tax expense 18,203
Net profit (loss) after taxes 54,610
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