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Financial Statements for March 2016


Balance Sheet (Unaudited)
As of March 31, 2016

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,216
Description Total
ASSETS  
Total cash 88,173
Cash - MMK 57,530
Cash - USD 30,643
Bank deposits 12,152
Deposit with other banks 11,446
ST Deposit with other banks -
Current Deposit with other banks 11,446
Deposit with central bank 706
ST Deposit with MICB -
Current Deposit with MICB 706
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 8,462,082
Micro1 Business Loan 798,836
Micro2 Business Loan 7,663,246
Micro3 Business Loan -
Personal Loan -
Less specific provision -
Net loan assets 8,462,082
Prepayment and int. receivable 657,019
Prepayment 512,430
Interest receivable - MMK 144,590
Interest receivable - USD -
Other assets 1,716
Total fixed assets 421,156
Intangible assets -
Accu. amortization-intangible assets -
Tangible assets 421,156
Accu. depre-building & tangible assets (386,755)
Net fixed assets 34,401
Total assets 9,255,543
LIABILITIES  
Total deposits 362,568
Withholding tax -
Accrued expenses and other liabilities 769,254
Health insurance fund -
General provision on loan 169,242
Staff pension fund -
Total liabilities 1,301,064
EQUITY  
Share capital 6,578,947
Capacity Building (Grant by ACL) -
General Reserves 135,224
Retained earning previous period 405,673
Currency translation reserve 21,301
Net income current year 813,334
Total equity 7,954,480
Inter-branch balance -
Total liabilities & equity 9,255,543

Income Statement (Unaudited)
For: March 31, 2016

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,216
Description Total
Interest on micro1 business loan 21,075
Interest on micro2 business loan 197,819
Interest on micro3 business loan -
Interest on personal loan -
Interest on bad & doubtful loans 234
Interest on bank deposit -
Income on investment and trading securities -
Total interest income 219,129
Commission received on remittance -
Western Union -
Loan fee 13,891
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 334
Service chrg/penalty saving 578
Consultancy incomes -
Miscellaneous income 2
Recovery on loan prev chrg-off -
Total other revenues 14,804
Total financial income 233,933
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 4,282
Total financial cost 4,282
Gross financial result 229,651
Loan loss expense 992
Provision for loan - MMK 992
Provision for loan - USD -
Provision for loan - THB -
Provision for accrued interest (1)
ATM/Credit card provision expense -
Currency translation expenses 3,773
Financial margin 234,346
Operational cost  
Total salaries 33,338
Health insur. & social welfare fund exp. 541
Other insurance expenses 306
Employee train-work related expenses -
Depreciation expenses 5,192
Purchases of FF and equipments 33
ATM/Credit card expenses -
Motor vehicle operating expenses 261
Repair and maint exp-FF and equipment 476
Publicity expenses 2,410
Advertising and promotion expense -
Rentals charges 15,149
Contribute to employee pension fund 1,655
Employee uniform expense 1,263
Other employee expenses 3,402
Litigation expenses -
Bank charges 1,045
Fees & commission paid to bank 100,000
Swift expense -
Office supplies 1,213
Other miscellaneous expenses 3,544
Printing & forms expenses 427
Other taxes expenses -
Telecommunication charges 716
Travel charges 4,546
Utilities charges 816
Disposal of fixed assets -
ACLEDA Bank MSA 67,741
Bank license fees 548
External advice / audit fee 3,701
Board of director expenses 5,002
Total administrative expense 253,326
Profit before capacity building grants income (18,981)
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax (18,981)
Income tax expense (4,745)
Net profit (loss) after taxes (14,235)
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