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Audited Financial Statements
STATEMENT OF FINANCIAL POSITION
As at March 31, 2019
Currency - Myanmar Kyats (MMK)
| 31 Mar 2019 | 31 Mar 2018 | |
| ASSETS | ||
| Cash on hand | 2,199,458,853 | 182,515,562 |
| Balances with other banks | 4,268,875,260 | 495,044,192 |
| Loans and advances to customers | 40,505,819,759 | 32,118,918,174 |
| Other assets | 2,067,357,198 | 1,828,400,332 |
| Property and equipment | 407,482,000 | 122,600,255 |
| Intangible assets | - | 1,674,400 |
| TOTAL ASSETS | 49,448,993,070 | 34,749,152,915 |
| LIABILITIES | ||
| Deposits from customers | 5,938,685,840 | 3,151,022,902 |
| Other liabilities | 1,515,025,126 | 643,264,280 |
| Borrowings | 24,330,607,500 | 15,486,060,000 |
| Current income tax liabilities | 853,062,196 | 1,045,291,278 |
| TOTAL LIABILITIES | 32,637,380,662 | 20,325,638,460 |
| EQUITY | ||
| Share capital | 8,000,000,000 | 8,000,000,000 |
| General reserves | 2,202,903,103 | 1,605,878,615 |
| Retained earning | 6,608,709,305 | 4,817,635,840 |
| TOTAL EQUITY | 16,811,612,408 | 14,423,514,455 |
| TOTAL LIABILITIES AND EQUITY | 49,448,993,070 | 34,749,152,915 |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended March 31, 2019
Currency - Myanmar Kyats (MMK)
| 31 Mar 2019 | 31 Mar 2018 | |
| Interest incomes | 10,719,406,599 | 8,303,899,078 |
| Interest expenses | (3,225,228,539) | (2,329,598,126) |
| Net interest incomes | 7,494,178,060 | 5,974,300,952 |
| Provision for loan losses | (475,540,098) | (362,707,350) |
| Net interest income after provision for loan losses | 7,018,637,962 | 5,611,593,602 |
| Fee and commission incomes | 696,446,753 | 522,265,251 |
| Fee and commission expenses | (262,449,873) | (139,679,060) |
| Net fee and commission income | 433,996,880 | 382,586,191 |
| Other incomes | 38,438,570 | 308,922,910 |
| Personnel expenses | (2,884,540,533) | (1,573,160,039) |
| General and administrative expenses | (1,248,005,815) | (655,491,785) |
| Foreign exchange translation | 11,524,153 | 4,216,027 |
| Depreciation charge | (128,694,440) | (41,120,540) |
| Amortisation charge | (196,630) | (195,600) |
| (4,211,474,695) | (1,956,829,027) | |
| Profit before income tax | 3,241,160,147 | 4,037,350,766 |
| Income tax expense | (853,062,195) | (1,046,901,540) |
| Profit/(loss) for the year | 2,388,097,952 | 2,990,449,226 |
| Other comprehensive income | - | - |
| Total comprehensive income for the year | 2,388,097,952 | 2,990,449,226 |
Note: These financial statements are audited by Khin Su Htay & Associates Limited.