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Financial Statements for March 2018


Balance Sheet (Unaudited)
As of March 31, 2018

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,335
Description Total
ASSETS  
Total cash 136,716
Cash - MMK 133,615
Cash - USD 3,101
Cash - THB -
Cash - EUR -
Bank deposits 370,820
Deposit with other banks 27,122
ST Deposit with other banks -
Current Deposit with other banks 27,122
Deposit with state bank 343,697
ST Deposit with MICB -
Current Deposit with MICB 343,697
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 24,735,217
Micro1 Business Loan 870,578
Micro2 Business Loan 23,708,201
Micro3 Business Loan 104,989
Staff Loan 51,448
Less general provision on loan (244,390)
Less specific provision (187,598)
Net loan assets 24,303,228
Prepayment and int. receivable 1,379,933
Prepayment 983,410
Interest receivable - MMK 396,523
Interest receivable - USD -
Other assets 2,636
Total fixed assets 504,542
Intangible assets 1,401
Accu. amortization-intangible assets (147)
Tangible assets 503,142
Accu. depre-building & tangible assets (411,306)
Net fixed assets 93,090
Total assets 26,286,422
LIABILITIES  
Total deposits 2,360,317
Withholding tax 23,513
Accrued expenses and other liabilities 1,471,485
Health insurance fund -
Staff pension fund -
ACLEDA NGO-KfW loan -
ACLEDA NGO-counterpart fund -
Subordinate debts -
Short-term debts -
Long-term debts 11,600,045
Total liabilities 15,455,359
EQUITY  
Share capital 5,992,509
General Reserves 642,896
Retained earning previous period 1,928,688
Currency translation reserve 30,825
Net income current year 2,236,144
Total equity 10,831,063
Inter-branch balance -
Total liabilities & equity 26,286,422

Income Statement (Unaudited)
For: March 31, 2018

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,335
Description Total
Interest on micro1 business loan 22,080
Interest on micro2 business loan 581,914
Interest on micro3 business loan 1,240
Interest on personal loan 796
Interest on bad & doubtful loans 3,397
Interest on bank deposit 2
Total interest income 609,427
Commission received on remittance -
Western Union -
Loan fee 35,593
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 1,265
Service chrg/penalty saving 3,057
Consultancy incomes -
Miscellaneous income 1
Recovery on loan prev chrg-off -
Total other revenues 39,916
Total financial income 649,343
Financial cost  
Interest expense on debts - MMK 135,327
Interest expense on debts - USD 2,083
Interest expense on debts - THB -
Interest expense on debts - EUR -
Interest on deposits 24,929
Total financial cost 162,339
Gross financial result 487,004
Loan loss expense (62,283)
Provision for loan - MMK (62,283)
Provision for loan - USD -
Provision for accrued interest 685
Currency translation expenses 162
Financial margin 425,568
Operational cost  
Total salaries (15,204)
Health insur. & social welfare fund exp. 772
Other insurance expenses 379
Employee train-work related expenses -
Depreciation expenses 3,418
Purchases of FF and equipments 1,629
ATM/Credit card expenses -
Motor vehicle operating expenses 617
Repair and maint exp-FF and equipment 589
Publicity expenses 1,770
Advertising and promotion expense 42
Rentals charges 16,939
Contribute to employee pension fund -
Employee uniform expense 1,316
Other employee expenses 3,754
Litigation expenses -
Bank charges 469
Fees & commission paid to bank -
Swift expense -
Office supplies 1,543
Other miscellaneous expenses 1,358
Printing & forms expenses 1,665
Other taxes expenses -
Telecommunication charges 1,589
Travel charges 4,696
Utilities charges 869
Disposal of fixed assets -
ACLEDA Bank MSA 45,831
Bank license fees 499
External advice / audit fee 5,287
Board of director expenses 10,520
Total administrative expense 90,346
Profit before capacity building grants income 335,222
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 335,222
Income tax expense 83,805
Net profit (loss) after taxes 251,416

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