Maendeleo Bank : Financial Statements as at 31st December, 2022

AS AT 31ST

AS AT 30TH

DEC.2022

SEPT. 2022

1

Cash

2,510

1,567

2

Balances with Bank of Tanzania

7,665

6,957

3

Investment in Government Securities

21,465

19,252

4

Balances with Other Banks and financial Institution

544

402

5

Cheques and Items for Clearing

85

81

6

Interbranch Float items

0

0

9

Interbank Loan Receivables

8,288

4,646

10

Investments In other Securities

11

Loans, Advances and Overdrafts (Net of Allowances)

60,658

65,529

12

Other Assets

3,199

2,542

15

Property,Plant and Equipment

2,107

2,214

16

TOTAL ASSETS

106,521

103,190

17

Deposits from Other Banks and Financial Financial Institution

6,200

7,648

18

Customers Deposits

70,928

65,203

19

Cash Letters of Credit

20

Special Deposits

223

206

21

Payment orders/Transfer payables

22

Bankers Cheques and Drafts Issued

0

1

23

Accrued Taxes and Expenses payable

487

677

24

Acceptances Outstandng

25

Interbranch Float items

-

70

26

Unearned income and other deffered charges

-

-

27

Other Liabilities

1,352

1,511

28

Borrowings

9,956

10,761

29

TOTAL LIABILITIES

89,146

86,077

30

NET ASSETS/(LIABILITIES) (16 MINUS 29)

17,375

17,113

31

Paid up Share Capital

13,927

13,923

32

Capital Reserves

1,668

1,667

General Reserves

-

-

33

Retained Earnings

469

469

34

Profit (Loss) Account

1,311

1,054

35

Other Capital account

-

-

36

Minority Interest

33

TOTAL SHAREHOLDERS' FUNDS

17,375

17,113

34

Contingent Liabilities

35

Non-Performing Loans and Advances

3,240

4,464

36

Allowances for Probable Losses

1,870

2,777

37

Other Non-Performing assets

D

FINANCIAL CONDITION INDICATORS

(i)

Shareholders Funds to total assets (%)

16%

17%

(ii)

Non Performing loans to Total gross Loans (%)

5.1%

6.7%

(iii)

Gross Loans and Advances to Total Deposits (%)

81%

94%

(iv)

Loans and Advances to Total Assets (%)

57%

64%

(v)

Earning Assets to Total Assets

85%

87%

(vi)

Deposits Growth

6%

4%

(vii)

Assets Growth

3%

2%

COMPARATIVE

CURRENT

COMPARATIVE

CURRENT

YEAR

YEAR

QUARTER

QUARTER 31ST

CUMULATIVE

CUMMULATIVE

(Previous Year)

DEC.2022

31ST DEC. 2021

31ST DEC.

(Previous Year)

2022

31ST DEC. 2021

1

Interest Income

4,318

3,518

15,736

12,865

2

Interest Expenses

(1,447)

(1,508)

(5,815)

(5,306)

3

Net Interest Income (1 minus 2)

2,871

2,010

9,921

7,559

4

Bad debts written off

-

-

-

(666)

5

Impairment Losses on Loans and Advances

(940)

(300)

(2,837)

(1,101)

6

Non - Interest Income

514

485

2,154

1,683

6.1 Foreign Currency Dealings and

9

21

42

64

Translation Gains/Loss

(2)

(26)

(20)

(21)

6.2 Fees and Commissions

392

319

1,609

1,300

6.3 Dividend Income

-

-

-

-

6.4 Other Operating Income

115

171

523

340

7

Non - Interest Expenses:

(2,011)

(2,035)

(7,223)

(6,765)

7.1 Salaries and Benefits

(832)

(838)

(3,254)

(3,103)

7.2 Fees and Commissions

-

-

-

-

7.3 Other Operating Expenses

(1,179)

(1,197)

(3,969)

(3,662)

7.4 Other Provision

-

-

-

-

8

Operating Income/(Loss)

434

160

2,015

710

9

Income Tax Provision

(176)

(54)

(704)

(212)

10

Net income (loss) after Income Tax

258

106

1,311

498

-

-

11

Number of Employees

105

93

105

93

12

Basic Earnings Per Share

10

4

50

20

13

Diluted Earnings Per Share

10

4

50

20

14

Number of Branches

4

4

4

4

PERFORMANCE INDICATORS

(i)

Return on Average Total Assets

0.2%

0.1%

1.3%

0.5%

(ii)

Return on Average Shareholders' Funds

1.5%

0.7%

7.6%

3.1%

(iii)

Non Interest Expenses to Gross Income

59%

82%

60%

73%

(iv)

Net Interest Income to Average Earning Assets

3%

2%

3%

9%

SIGNED BY:

Dr. Ibrahim Mwangalaba

Managing Director

………………………………

26-Jan-23

CPA

Peter B. Tarimo

Head of Finance

………………………………

26-Jan-23

CPA

Kapilima Saidi

Head of Internal Audit

………………………………

26-Jan-23

Mr. Amulike Ngeliama

Chairman

………………………………

26-Jan-23

CPA. Anna T. Mzinga

Director

………………………………

26-Jan-23

CURRENT

CURRENT

QUARTER ENDED

QUARTER ENDED

31ST DEC. 2022

30TH SEPT.2022

I

Cash flow from operating activities

Net Income (Loss)

434

475

Adjustment for:

-Impairment/Armortization

940

578

-Depreciation and Armotization

184

177

-Prior Period Adjustment

-Net change in Loans and advances

5,777

(4,490)

-Gain/Loss on Sale of Assets

-Net change in Deposits

4,295

2,415

-Net change in Short term negotiable securities

(5,856)

1,793

-Net Change in Other Liabilities

(159)

205

-Net change in Other Assets

(656)

302

-Tax paid

(176)

(176)

-Others (Provisions)

-

-

Net cash provided (used) by operating activities

4,783

1,279

II

Cash flow from Investment activities

Dividend Received

Purchase of fixed assets

(67)

(46)

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

(67)

(46)

III

Cash flow from financing activities

Repayment of long-term debt

Proceeds from issuance of long term debt

Proceeds from issuance of share capital

4

2

Payment of cash dividends

Net change in other borrowings

(805)

(772)

Others (specify) Long term financing

Net cash provided (used) by financing activities

(801)

(770)

IV

Cash and Cash Equivalents:

Net increase/(decrease) in cash and cash

equivalent

3,915

463

Cash and Cash Equivalents at the beginning of

the period

22,608

22,145

Cash and Cash Equivalents at the end of

the period

26,523

22,608