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Audited Financial Statements

Balance Sheet

As at March 31, 2014
Currency - Myanmar Kyats (MMK)

  2014 2013
ASSETS
Cash on hand 243,504,917 21,934,816
Balances with other banks 3,044,400,973 8,148,361,704
Loans and advances to customers 4,907,631,110 37,823,002
Other assets 249,050,959 130,794,567
Property and equipment 338,881,722 281,705,313
Total assets 8,783,469,681 8,620,619,402
 
LIABILITIES
Due to other banks
Deposits from customers 137,414,564 31,315,495
Other liabilities 981,721,634 1,219,408,701
Total liabilities 1,119,136,198 1,250,724,196
EQUITIES
Capital – value per share K1,000
      Authorised - 8,000,000 shares
8,000,000,000 8,000,000,000
Share capital 8,000,000,000 8,000,000,000
Retained earning (335,666,517) (630,104,794)
Total shareholder's funds 7,664,333,483 7,369,895,206
Total liabilities & shareholder's funds 8,783,469,681 8,620,619,402

Income Statement

For the year ended March 31, 2014
Currency - Myanmar Kyats (MMK)

FINANCIAL INCOME 2014 2013
Interest incomes 467,092,749 632,425
Interest expenses (5,253,146) (15,407)
Net interest incomes 461,839,603 617,018
Provision for loan losses (48,984,013) (771,898)
Net interest income after provision for loan losses 412,855,590 (154,880)
Fee and commission incomes 14,552,665 8,400
Fee and commission expenses - -
Net fee and commission income 14,552,665 8,400
Other incomes 1,084,069,404 13,810
Personnel Costs (1,382,660,809) (139,073,022)
Administrative and operating expenses (425,721,553) (536,986,191)
Foreign exchange translation 719,639,248 56,352,728
Depreciation and amortisation (128,296,268) (10,265,639)
  (132,969,978) (629,958,314)
Profit/(loss) before income tax 294,438,277 (630,104,794)
Income tax expense - -
Net profit/(loss) for the year 294,438,277 (630,104,794)

Note: These financial statements are audited by Win Thin & Associates.


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