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Financial Statements for May 2017


Balance Sheet (Unaudited)
As of May 31, 2017

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,365
Description Total
ASSETS  
Total cash 274,129
Cash - MMK 269,959
Cash - USD 4,170
Cash - THB -
Cash - EUR -
Bank deposits 1,429,101
Deposit with other banks 1,427,729
ST Deposit with other banks -
Current Deposit with other banks 1,427,729
Deposit with central bank 1,372
ST Deposit with MICB -
Current Deposit with MICB 1,372
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 16,458,750
Micro1 Business Loan 689,880
Micro2 Business Loan 15,746,733
Micro3 Business Loan 22,137
Personal Loan -
Less specific provision (426)
Net loan assets 16,458,323
Prepayment and int. receivable 859,598
Prepayment 585,810
Interest receivable - MMK 273,787
Interest receivable - USD -
Other assets 2,539
Total fixed assets 419,761
Intangible assets -
Accu. amortization-intangible assets -
Tangible assets 419,761
Accu. depre-building & tangible assets (376,999)
Net fixed assets 42,762
Total assets 19,066,452
LIABILITIES  
Total deposits 935,275
Withholding tax 27,604
Accrued expenses and other liabilities 1,083,228
Health insurance fund 1,698
General provision on loan 164,583
Long-term debts 8,203,297
Total liabilities 10,415,685
EQUITY  
Share capital 5,860,806
Capacity Building (Grant by ACL) -
General Reserves 306,346
Retained earning previous period 2,208,720
Currency translation reserve (720)
Net income current year 275,615
Total equity 8,650,767
Inter-branch balance -
Total liabilities & equity 19,066,452

Income Statement (Unaudited)
For: May 31, 2017

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,365
Description Total
Interest on micro1 business loan 17,786
Interest on micro2 business loan 380,729
Interest on micro3 business loan 542
Interest on personal loan -
Interest on bad & doubtful loans 703
Interest on bank deposit 6,621
Total interest income 406,381
Commission received on remittance -
Western Union -
Loan fee 25,286
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 675
Service chrg/penalty saving 1,770
Consultancy incomes -
Miscellaneous income 2
Recovery on loan prev chrg-off -
Total other revenues 27,733
Total financial income 434,113
Financial cost  
Interest expense on debts - MMK 96,876
Interest expense on debts - USD -
Interest expense on debts - THB -
Interest expense on debts - EUR -
Interest on deposits 9,300
Total financial cost 106,176
Gross financial result 327,937
Loan loss expense (11,104)
Provision for loan - MMK (11,104)
Provision for loan - USD -
Provision for accrued interest -
Currency translation expenses (411)
Financial margin 316,423
Operational cost  
Total salaries 46,640
Health insur. & social welfare fund exp. 2,184
Other insurance expenses 269
Employee train-work related expenses -
Depreciation expenses 1,181
Purchases of FF and equipments 1,166
ATM/Credit card expenses -
Motor vehicle operating expenses 393
Repair and maint exp-FF and equipment 147
Publicity expenses 156
Advertising and promotion expense -
Rentals charges 15,019
Contribute to employee pension fund 1,318
Employee uniform expense 1,252
Other employee expenses 540
Litigation expenses -
Bank charges 295
Fees & commission paid to bank 4,662
Swift expense -
Office supplies 1,512
Other miscellaneous expenses 1,884
Printing & forms expenses 1,182
Other taxes expenses -
Telecommunication charges 1,040
Travel charges 5,307
Utilities charges 1,039
Disposal of fixed assets -
ACLEDA Bank MSA 45,496
Bank license fees 488
External advice / audit fee -
Board of director expenses 3,002
Total administrative expense 136,172
Profit before capacity building grants income 180,250
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 180,250
Income tax expense 45,063
Net profit (loss) after taxes 135,188


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