Maendeleo Bank : Financial Statements as at 30th September, 2022

AS AT 30TH

AS AT 30TH

SEPT.2022

JUNE 2022

1

Cash

1,567

2,631

2

Balances with Bank of Tanzania

6,957

6,056

3

Investment in Government Securities

19,252

18,457

4

Balances with Other Banks and financial Institution

402

282

5

Cheques and Items for Clearing

81

71

6

Interbranch Float items

0

0

9

Interbank Loan Receivables

4,646

7,233

10

Investments In other Securities

11

Loans, Advances and Overdrafts (Net of Allowances)

65,529

61,326

12

Other Assets

2,542

2,844

15

Property,Plant and Equipment

2,214

2,260

16

TOTAL ASSETS

103,190

101,159

17

Deposits from Other Banks and Financial Financial Institution

7,648

4,645

18

Customers Deposits

65,203

65,687

19

Cash Letters of Credit

20

Special Deposits

206

310

21

Payment orders/Transfer payables

22

Bankers Cheques and Drafts Issued

1

(2)

23

Accrued Taxes and Expenses payable

677

508

24

Acceptances Outstandng

25

Interbranch Float items

70

69

26

Unearned income and other deffered charges

-

-

27

Other Liabilities

1,511

1,306

28

Borrowings

10,761

11,532

29

TOTAL LIABILITIES

86,077

84,055

30

NET ASSETS/(LIABILITIES) (16 MINUS 29)

17,113

17,103

31

Paid up Share Capital

13,923

13,922

32

Capital Reserves

1,667

1,303

General Reserves

-

-

33

Retained Earnings

469

1,124

34

Profit (Loss) Account

1,054

754

35

Other Capital account

-

-

36

Minority Interest

33

TOTAL SHAREHOLDERS' FUNDS

17,113

17,103

34

Contingent Liabilities

35

Non-Performing Loans and Advances

4,464

4,311

36

Allowances for Probable Losses

2,777

2,489

37

Other Non-Performing assets

D

FINANCIAL CONDITION INDICATORS

(i)

Shareholders Funds to total assets (%)

17%

17%

(ii)

Non Performing loans to Total gross Loans (%)

6.5%

6.8%

(iii)

Gross Loans and Advances to Total Deposits (%)

94%

91%

(iv)

Loans and Advances to Total Assets (%)

64%

61%

(v)

Earning Assets to Total Assets

87%

86%

(vi)

Deposits Growth

4%

0%

(vii)

Assets Growth

2%

-1%

COMPARATIVE

CURRENT YEAR

COMPARATIVE

CURRENT

YEAR

QUARTER

QUARTER 30TH

CUMULATIVE

CUMMULATIVE

(Previous Year)

SEPT.2022

30TH SEPT. 2022

(Previous Year) 30TH

30TH SEPT. 2021

SEPT. 2021

1

Interest Income

3,713

3,326

11,418

9,347

2

Interest Expenses

(1,509)

(1,417)

(4,368)

(3,798)

3

Net Interest Income (1 minus 2)

2,204

1,909

7,050

5,549

4

Bad debts written off

-

-

-

(666)

5

Impairment Losses on Loans and Advances

(578)

(300)

(1,896)

(801)

6

Non - Interest Income

623

439

1,640

1,198

6.1 Foreign Currency Dealings and

15

25

33

43

Translation Gains/Loss

6

2

(18)

5

6.2 Fees and Commissions

364

406

1,216

981

6.3 Dividend Income

-

-

-

-

6.4 Other Operating Income

238

6

409

169

7

Non - Interest Expenses:

(1,774)

(1,738)

(5,212)

(4,731)

7.1 Salaries and Benefits

(815)

(770)

(2,422)

(2,265)

7.2 Fees and Commissions

-

-

-

-

7.3 Other Operating Expenses

(959)

(968)

(2,790)

(2,466)

7.4 Other Provision

-

-

-

-

8

Operating Income/(Loss)

475

310

1,582

549

9

Income Tax Provision

(176)

(108)

(528)

(157)

10

Net income (loss) after Income Tax

299

202

1,054

392

-

-

11

Number of Employees

104

85

104

85

12

Basic Earnings Per Share

11

8

40

16

13

Diluted Earnings Per Share

11

8

40

16

14

Number of Branches

4

4

4

4

PERFORMANCE INDICATORS

(i)

Return on Average Total Assets

0.3%

0.2%

1.0%

0.4%

(ii)

Return on Average Shareholders' Funds

1.7%

1.3%

6.2%

2.4%

(iii)

Non Interest Expenses to Gross Income

63%

74%

60%

70%

(iv)

Net Interest Income to Average Earning Assets

2%

2%

2%

7%

Name and Title

Signature

Date

Kevin Wingfield

26-Sep-22

(Chief Executive Officer)

Lydia Kokugonza

26-Sep-22

(Chief Financial Officer)

Jonathan Ngoma

26-Sep-22

(Chief Internal Auditor)

Name

Signature

Date

1.

Gregroy Brackenridge

27-Sep-22

(Board Chairman)

2.

Farzana Karimjee

27-Sep-22

(Board Member)

CURRENT

CURRENT

QUARTER ENDED

QUARTER ENDED

30TH SEPT. 2022

30TH JUNE 2022

I

Cash flow from operating activities

Net Income (Loss)

475

533

Adjustment for:

-Impairment/Armortization

578

747

-Depreciation and Armotization

177

204

-Prior Period Adjustment

-Net change in Loans and advances

(4,490)

(3,077)

-Gain/Loss on Sale of Assets

-Net change in Deposits

2,415

746

-Net change in Short term negotiable securities

1,793

1,743

-Net Change in Other Liabilities

205

230

-Net change in Other Assets

302

349

-Tax paid

(176)

(176)

-Others (Provisions)

-

-

II

Net cash provided (used) by operating activities

1,279

1,299

Cash flow from Investment activities

Dividend Received

Purchase of fixed assets

(46)

(224)

Proceeds from Sale of Fixed Assets

Purchase of non-dealing securities

Proceeds from sale of non-dealing securities

Others(Specify)

Net cash provided (used) by investing activities

(46)

(224)

III

Cash flow from financing activities

Repayment of long-term debt

Proceeds from issuance of long term debt

Proceeds from issuance of share capital

2

-

Payment of cash dividends

Net change in other borrowings

(772)

(776)

Others (specify) Long term financing

Net cash provided (used) by financing activities

(770)

(776)

IV

Cash and Cash Equivalents:

Net increase/(decrease) in cash and cash

equivalent

463

299

Cash and Cash Equivalents at the beginning of

the period

22,145

21,846

Cash and Cash Equivalents at the end of

the period

22,608

22,145