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Audited Financial Statements
Balance Sheet
As at March 31, 2017
Currency - Myanmar Kyats (MMK)
2017 | 2016 | |
ASSETS | ||
Cash on hand | 314,891,012 | 107,218,950 |
Balances with other banks | 2,057,361,344 | 14,776,761 |
Loans and advances to customers | 20,975,180,424 | 9,985,459,952 |
Other assets | 1,177,306,818 | 801,022,122 |
Property and equipment | 29,489,015 | 41,831,515 |
Total assets | 24,554,228,613 | 10,950,309,300 |
LIABILITIES | ||
Due to other banks | - | - |
Deposits from customers | 1,020,426,851 | 440,882,391 |
Other liabilities | 306,635,004 | 493,265,877 |
Borrowings | 11,197,500,000 | - |
Provision for income tax | 596,601,529 | 343,513,643 |
Total liabilities | 13,121,163,384 | 1,277,661,911 |
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 | 2,574,798,921 | 1,254,485,541 |
Reserves | 858,266,308 | 418,161,848 |
Total shareholder's funds | 11,433,065,229 | 9,672,647,389 |
Total liabilities & shareholder's funds | 24,554,228,613 | 10,950,309,300 |
Income Statement
For the year ended March 31, 2017
Currency - Myanmar Kyats (MMK)
FINANCIAL INCOME | 2017 | 2016 |
Interest incomes | 4,644,605,736 | 3,001,915,883 |
Interest expenses | (846,764,242) | (54,879,680) |
Net interest incomes | 3,797,841,494 | 2,947,036,203 |
Provision for loan losses | (8,781,379) | (23,959,212) |
Net interest income after provision for loan losses | 3,789,060,115 | 2,923,076,991 |
Fee and commission incomes | 292,751,628 | 196,229,244 |
Fee and commission expenses | (84,405,001) | (121,600,000) |
Net fee and commission income | 208,346,627 | 74,629,244 |
Other incomes | 509,676,396 | 629,204,503 |
Personnel Costs | (1,531,791,813) | (1,573,990,799) |
Administrative and operating expenses | (531,196,338) | (432,847,542) |
Foreign exchange translation | (14,946,620) | (93,846,446) |
Depreciation and amortisation | (42,742,259) | (152,171,380) |
(1,611,000,634) | (1,623,651,664) | |
Profit/(loss) before income tax | 2,386,406,108 | 1,374,054,571 |
Income tax expense | (625,988,268) | (359,138,205) |
Net profit/(loss) for the year | 1,760,417,840 | 1,014,916,366 |
Note: These financial statements are audited by Win Thin & Associates.