ACLEDA MFI Myanmar Co., Ltd.

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Financial Statements for December 2016


Balance Sheet (Unaudited)
As of December 31, 2016

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,365
Description Total
ASSETS  
Total cash 232,803
Cash - MMK 224,535
Cash - USD 8,268
Bank deposits 172,018
Deposit with other banks 170,644
ST Deposit with other banks -
Current Deposit with other banks 170,644
Deposit with central bank 1,374
ST Deposit with MICB -
Current Deposit with MICB 1,374
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 13,499,156
Micro1 Business Loan 918,147
Micro2 Business Loan 12,562,966
Micro3 Business Loan 18,042
Personal Loan -
Less specific provision (426)
Net loan assets 13,498,729
Prepayment and int. receivable 759,016
Prepayment 540,201
Interest receivable - MMK 218,814
Interest receivable - USD -
Other assets 2,683
Total fixed assets 390,540
Intangible assets -
Accu. amortization-intangible assets -
Tangible assets 390,540
Accu. depre-building & tangible assets (371,999)
Net fixed assets 18,541
Total assets 14,683,790
LIABILITIES  
Total deposits 455,486
Withholding tax -
Accrued expenses and other liabilities 840,114
Health insurance fund -
General provision on loan 134,987
Staff pension fund -
Long-term debts 5,198,901
Total liabilities 6,629,488
EQUITY  
Share capital 5,860,806
Capacity Building (Grant by ACL) -
General Reserves 306,346
Retained earning previous period 919,037
Currency translation reserve (91,424)
Net income current year 1,059,537
Total equity 8,054,302
Inter-branch balance -
Total liabilities & equity 14,683,790

Income Statement (Unaudited)
For: December 31, 2016

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,365
Description Total
Interest on micro1 business loan 22,754
Interest on micro2 business loan 309,759
Interest on micro3 business loan 391
Interest on personal loan -
Interest on bad & doubtful loans 360
Interest on bank deposit (20)
Income on investment and trading securities -
Total interest income 333,244
Commission received on remittance -
Western Union -
Loan fee 18,874
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 1,112
Service chrg/penalty saving 855
Consultancy incomes -
Miscellaneous income 6
Recovery on loan prev chrg-off -
Total other revenues 20,847
Total financial income 354,091
Financial cost  
Interest expense on debts - MMK 58,199
Interest expense on debts - USD -
Interest expense on debts - THB -
Interest expense on debts - EUR -
Interest on deposits 5,562
Total financial cost 63,760
Gross financial result 290,330
Loan loss expense (7,606)
Provision for loan - MMK (7,606)
Provision for loan - USD -
Provision for loan - THB -
Provision for accrued interest -
ATM/Credit card provision expense -
Currency translation expenses (3,835)
Financial margin 278,889
Operational cost  
Total salaries 36,299
Health insur. & social welfare fund exp. 254
Other insurance expenses 307
Employee train-work related expenses 437
Depreciation expenses 1,448
Purchases of FF and equipments 312
ATM/Credit card expenses -
Motor vehicle operating expenses 264
Repair and maint exp-FF and equipment 786
Publicity expenses 219
Advertising and promotion expense 462
Rentals charges 14,287
Contribute to employee pension fund 1,637
Employee uniform expense 1,268
Other employee expenses 2,271
Litigation expenses -
Bank charges 76
Fees & commission paid to bank 836
Swift expense -
Office supplies 1,075
Other miscellaneous expenses 1,178
Printing & forms expenses 1,558
Other taxes expenses -
Telecommunication charges 1,394
Travel charges 4,161
Utilities charges 688
Disposal of fixed assets -
ACLEDA Bank MSA 68,077
Bank license fees 488
External advice / audit fee -
Board of director expenses 7,555
Total administrative expense 147,335
Profit before capacity building grants income 131,554
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 131,554
Income tax expense 32,888
Net profit (loss) after taxes 98,665
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