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Financial Statements for June 2018


Balance Sheet (Unaudited)
As of June 30, 2018

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,405
Description Total
ASSETS  
Total cash 827,731
Cash - MMK 813,287
Cash - USD 14,444
Cash - THB -
Cash - EUR -
Bank deposits 2,683,629
Deposit with other banks 475,857
ST Deposit with other banks -
Current Deposit with other banks 475,857
Deposit with state bank 2,207,772
ST Deposit with MICB -
Current Deposit with MICB 2,207,772
CBM reserve requirement -
Reserve requirement -
Capital guarantee deposit -
Gross loan assets 24,687,830
Micro1 Business Loan 734,684
Micro2 Business Loan 23,338,953
Micro3 Business Loan 577,973
Staff Loan 36,220
Less general provision on loan (242,489)
Less specific provision (300,531)
Net loan assets 24,144,810
Prepayment and int. receivable 1,532,796
Prepayment 1,140,348
Interest receivable - MMK 392,448
Interest receivable - USD -
Other assets 3,160
Total fixed assets 584,858
Intangible assets 1,331
Accu. amortization-intangible assets (206)
Tangible assets 583,527
Accu. depre-building & tangible assets (405,784)
Net fixed assets 178,868
Total assets 29,370,995
LIABILITIES  
Total deposits 2,752,241
Withholding tax 51,549
Accrued expenses and other liabilities 1,660,600
Health insurance fund 2,077
Staff pension fund -
Subordinate debts -
Short-term debts 3,558,719
Long-term debts 10,630,648
Total liabilities 18,655,834
EQUITY  
Share capital 5,693,950
General Reserves 610,866
Retained earning previous period 3,986,621
Currency translation reserve (12,126)
Net income current year 435,851
Total equity 10,715,162
Inter-branch balance -
Total liabilities & equity 29,370,995

Income Statement (Unaudited)
For: June 30, 2018

(Amounts in USD)
Exchange Rate: USD 1 = Kyats 1,405
Description Total
Interest on micro1 business loan 17,972
Interest on micro2 business loan 561,652
Interest on micro3 business loan 10,381
Interest on personal loan 542
Interest on bad & doubtful loans 3,627
Interest on bank deposit 2,373
Total interest income 596,548
Commission received on remittance -
Western Union -
Loan fee 36,507
Payroll service -
Foreign exchange -
Trade finance -
Fees received on e-banking system -
Others commission income -
Income from sale of check book 1,324
Service chrg/penalty saving 2,617
Consultancy incomes -
Miscellaneous income 5
Recovery on loan prev chrg-off -
Total other revenues 40,453
Total financial income 637,001
Financial cost  
Interest expense on debts - MMK 159,720
Interest expense on debts - USD 2,065
Interest expense on debts - THB -
Interest expense on debts - EUR -
Interest on deposits 28,810
Total financial cost 190,595
Gross financial result 446,406
Loan loss expense (44,864)
Provision for loan - MMK (44,864)
Provision for loan - USD -
Provision for accrued interest (1,021)
Currency translation expenses (3,497)
Financial margin 397,024
Operational cost  
Total salaries 38,349
Health insur. & social welfare fund exp. 4,697
Other insurance expenses 371
Employee train-work related expenses 589
Depreciation expenses 5,610
Purchases of FF and equipments 2,655
ATM/Credit card expenses -
Motor vehicle operating expenses 892
Repair and maint exp-FF and equipment 869
Publicity expenses 2,315
Advertising and promotion expense 467
Rentals charges 24,410
Contribute to employee pension fund -
Employee uniform expense 1,776
Other employee expenses 602
Litigation expenses -
Bank charges 354
Fees & commission paid to bank -
Swift expense -
Office supplies 3,958
Other miscellaneous expenses 2,839
Printing & forms expenses 3,702
Other taxes expenses -
Telecommunication charges 1,442
Travel charges 12,011
Utilities charges 1,492
Disposal of fixed assets -
ACLEDA Bank MSA 60,517
Bank license fees 475
External advice / audit fee 46
Board of director expenses 47,048
Total administrative expense 217,487
Profit before capacity building grants income 179,536
Capapcity building grants income (IFC) -
Capapcity building grants income (KFW) -
Capapcity building grants income (COFIBRED) -
Total capacity building grants -
Profit before income tax 179,536
Income tax expense 44,884
Net profit (loss) after taxes 134,652

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