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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.

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