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Financial Statements for April 2016


Balance Sheet (Unaudited)
As of April 30, 2016

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,175
Description Total
ASSETS  
Total cash 98,598
Cash - MMK 92,158
Cash - USD 6,440
Bank deposits 33,092
Deposit with other banks 32,365
ST Deposit with other banks -
Current Deposit with other banks 32,365
Deposit with central bank 727
ST Deposit with MICB -
Current Deposit with MICB 727
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 8,747,988
Micro1 Business Loan 745,781
Micro2 Business Loan 8,002,207
Micro3 Business Loan -
Personal Loan -
Less specific provision (71)
Net loan assets 8,747,917
Prepayment and int. receivable 658,586
Prepayment 517,479
Interest receivable - MMK 141,107
Interest receivable - USD -
Other assets 1,526
Total fixed assets 434,102
Intangible assets -
Accu. amortization-intangible assets -
Tangible assets 434,102
Accu. depre-building & tangible assets (403,393)
Net fixed assets 30,709
Total assets 9,570,428
LIABILITIES  
Total deposits 361,311
Withholding tax 11,089
Accrued expenses and other liabilities 719,399
Health insurance fund 729
General provision on loan 174,946
Staff pension fund -
Total liabilities 1,267,474
EQUITY  
Share capital 6,808,511
Capacity Building (Grant by ACL) -
General Reserves 139,943
Retained earning previous period 1,283,587
Currency translation reserve 0
Net income current year 70,914
Total equity 8,302,954
Inter-branch balance -
Total liabilities & equity 9,570,428

Income Statement (Unaudited)
For: April 30, 2016

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,175
Description Total
Interest on micro1 business loan 18,268
Interest on micro2 business loan 191,363
Interest on micro3 business loan -
Interest on personal loan -
Interest on bad & doubtful loans 1,143
Interest on bank deposit -
Income on investment and trading securities -
Total interest income 210,774
Commission received on remittance -
Western Union -
Loan fee 13,973
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 195
Service chrg/penalty saving 803
Consultancy incomes -
Miscellaneous income 1
Recovery on loan prev chrg-off -
Total other revenues 14,972
Total financial income 225,746
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 4,558
Total financial cost 4,558
Gross financial result 221,188
Loan loss expense 130
Provision for loan - MMK 130
Provision for loan - USD -
Provision for loan - THB -
Provision for accrued interest 1
ATM/Credit card provision expense -
Currency translation expenses 8,045
Financial margin 229,364
Operational cost  
Total salaries 31,271
Health insur. & social welfare fund exp. 2,181
Other insurance expenses 305
Employee train-work related expenses -
Depreciation expenses 4,739
Purchases of FF and equipments -
ATM/Credit card expenses -
Motor vehicle operating expenses 73
Repair and maint exp-FF and equipment 635
Publicity expenses 63
Advertising and promotion expense -
Rentals charges 15,678
Contribute to employee pension fund 1,599
Employee uniform expense 1,316
Other employee expenses -
Litigation expenses -
Bank charges 493
Fees & commission paid to bank -
Swift expense -
Office supplies 597
Other miscellaneous expenses 1,166
Printing & forms expenses 467
Other taxes expenses -
Telecommunication charges 547
Travel charges 4,838
Utilities charges 1,080
Disposal of fixed assets -
ACLEDA Bank MSA 59,988
Bank license fees 567
External advice / audit fee -
Board of director expenses 7,207
Total administrative expense 134,812
Profit before capacity building grants income 94,552
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 94,552
Income tax expense 23,638
Net profit (loss) after taxes 70,914
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