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Financial Statements for June 2017


Balance Sheet (Unaudited)
As of June 30, 2017

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,362
Description Total
ASSETS  
Total cash 760,793
Cash - MMK 756,144
Cash - USD 4,649
Cash - THB -
Cash - EUR -
Bank deposits 3,627,343
Deposit with other banks 1,423,327
ST Deposit with other banks -
Current Deposit with other banks 1,423,327
Deposit with central bank 2,204,016
ST Deposit with MICB -
Current Deposit with MICB 2,204,016
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 17,765,604
Micro1 Business Loan 755,088
Micro2 Business Loan 16,977,921
Micro3 Business Loan 32,595
Personal Loan -
Less specific provision (450)
Net loan assets 17,765,155
Prepayment and int. receivable 1,002,640
Prepayment 720,407
Interest receivable - MMK 282,233
Interest receivable - USD -
Other assets 2,241
Total fixed assets 447,356
Intangible assets -
Accu. amortization-intangible assets -
Tangible assets 447,356
Accu. depre-building & tangible assets (378,041)
Net fixed assets 69,315
Total assets 23,227,487
LIABILITIES  
Total deposits 1,033,985
Withholding tax 16,305
Accrued expenses and other liabilities 1,277,635
Health insurance fund -
General provision on loan 177,650
Long-term debts 11,956,175
Total liabilities 14,461,749
EQUITY  
Share capital 5,873,715
Capacity Building (Grant by ACL) -
General Reserves 630,151
Retained earning previous period 1,890,454
Currency translation reserve (115)
Net income current year 371,532
Total equity 8,765,738
Inter-branch balance -
Total liabilities & equity 23,227,487

Income Statement (Unaudited)
For: June 30, 2017

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,362
Description Total
Interest on micro1 business loan 17,243
Interest on micro2 business loan 403,471
Interest on micro3 business loan 761
Interest on personal loan -
Interest on bad & doubtful loans 625
Interest on bank deposit 5,879
Total interest income 427,979
Commission received on remittance -
Western Union -
Loan fee 24,576
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 966
Service chrg/penalty saving 1,335
Consultancy incomes -
Miscellaneous income 5
Recovery on loan prev chrg-off -
Total other revenues 26,883
Total financial income 454,862
Financial cost  
Interest expense on debts - MMK 107,375
Interest expense on debts - USD -
Interest expense on debts - THB -
Interest expense on debts - EUR -
Interest on deposits 10,437
Total financial cost 117,812
Gross financial result 337,051
Loan loss expense (12,726)
Provision for loan - MMK (12,726)
Provision for loan - USD -
Provision for accrued interest -
Currency translation expenses (76)
Financial margin 324,249
Operational cost  
Total salaries 46,461
Health insur. & social welfare fund exp. 478
Other insurance expenses 269
Employee train-work related expenses 661
Depreciation expenses 1,972
Purchases of FF and equipments 3,019
ATM/Credit card expenses -
Motor vehicle operating expenses 460
Repair and maint exp-FF and equipment 967
Publicity expenses 2,298
Advertising and promotion expense -
Rentals charges 15,640
Contribute to employee pension fund 1,321
Employee uniform expense 1,201
Other employee expenses 313
Litigation expenses -
Bank charges 527
Fees & commission paid to bank 43,726
Swift expense -
Office supplies 3,227
Other miscellaneous expenses 2,872
Printing & forms expenses 2,201
Other taxes expenses -
Telecommunication charges 1,228
Travel charges 7,068
Utilities charges 1,060
Disposal of fixed assets -
ACLEDA Bank MSA 48,446
Bank license fees 526
External advice / audit fee 2,143
Board of director expenses 8,275
Total administrative expense 196,360
Profit before capacity building grants income 127,889
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 127,889
Income tax expense 31,972
Net profit (loss) after taxes 95,917
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