Maendeleo Bank : Financial Statements as at 30th September, 2023

AS AT 30TH SEPT

AS AT 30TH JUNE

2023

2023

1

Cash

1,207

1,816

2

Balances with Bank of Tanzania

5,860

5,445

3

Investment in Government Securities

25,481

26,745

4

Balances with Other Banks and financial Institution

832

1,114

5

Cheques and Items for Clearing

17

38

6

Interbranch Float items

0

0

9

Interbank Loan Receivables

7,218

5,650

10

Investments In other Securities

11

Loans, Advances and Overdrafts (Net of Allowances)

70,993

66,935

12

Other Assets

4,670

4,158

13

Equity Investments

14

Underwrittings accounts

-

-

15

Property,Plant and Equipment

2,126

2,298

17

TOTAL ASSETS

118,404

114,199

18

Deposits from Other Banks and Financial Financial Institution

7,100

6,700

19

Customers Deposits

78,876

74,818

20

Cash Letters of Credit

21

Special Deposits

487

238

22

Payment orders/Transfer payables

23

Bankers Cheques and Drafts Issued

0

0

24

Accrued Taxes and Expenses payable

700

727

25

Acceptances Outstandng

26

Interbranch Float items

-

-

27

Unearned income and other deffered charges

-

-

28

Other Liabilities

2,942

2,056

29

Borrowings

10,215

11,288

30

TOTAL LIABILITIES

100,320

95,827

31

NET ASSETS/(LIABILITIES) (16 MINUS 29)

18,084

18,372

32

Paid up Share Capital

13,929

13,931

33

Capital Reserves

542

542

34

General Reserves

-

-

35

Retained Earnings

2,302

3,010

36

Profit (Loss) Account

1,311

889

37

Other Capital account

-

-

38

Minority Interest

39

TOTAL SHAREHOLDERS' FUNDS

18,084

18,372

40

Contingent Liabilities

41

Non-Performing Loans and Advances

3,480

3,330

42

Allowances for Probable Losses

2,018

1,768

43

Other Non-Performing assets

D

FINANCIAL CONDITION INDICATORS

(i)

Shareholders Funds to total assets (%)

15%

16%

(ii)

Non Performing loans to Total gross Loans (%)

5%

5%

(iii)

Gross Loans and Advances to Total Deposits (%)

85%

84%

(iv)

Loans and Advances to Total Assets (%)

60%

59%

(v)

Earning Assets to Total Assets

88%

88%

(vi)

Deposits Growth

5%

2%

(vii)

Assets Growth

4%

4%

CURRENT

COMPARATIVE

COMPARATIVE

CURRENT YEAR

YEAR

QUARTER

QUARTER 30TH

CUMULATIVE 30TH

CUMMULATIVE

(Previous Year)

SEPT 2023

30TH SEPT 2022

SEPT 2023

(Previous Year)

30TH SEPT 2022

1

Interest Income

4,100

3,713

12,798

11,418

2

Interest Expenses

(1,715)

(1,509)

(4,707)

(4,368)

3

Net Interest Income (1 minus 2)

2,385

2,204

8,091

7,050

4

Bad debts written off

-

-

-

-

5

Impairment Losses on Loans and Advances

(501)

(578)

(2,190)

(1,896)

6

Non - Interest Income

887

623

2,182

1,640

6.1 Foreign Currency Dealings and

Translation Gains/Loss

46

21

67

15

6.2 Fees and Commissions

608

364

1,525

1,216

6.3 Dividend Income

-

-

-

-

6.4 Other Operating Income

233

238

590

409

7

Non - Interest Expenses:

(2,161)

(1,774)

(6,242)

(5,212)

7.1 Salaries and Benefits

(1,034)

(815)

(3,001)

(2,422)

7.2 Fees and Commissions

-

-

-

-

7.3 Other Operating Expenses

(1,127)

(959)

(3,241)

(2,790)

7.4 Other Provision

-

-

-

-

8

Operating Income/(Loss)

610

475

1,841

1,582

9

Income Tax Provision

(188)

(176)

(530)

(528)

10

Net income (loss) after Income Tax

422

299

1,311

1,054

-

-

11

Number of Employees

114

104

114

104

12

Basic Earnings Per Share

16

11

50

40

13

Diluted Earnings Per Share

16

11

50

40

14

Number of Branches

4

4

4

4

PERFORMANCE INDICATORS

(i)

Return on Average Total Assets

0.4%

0.3%

1.1%

1.0%

(ii)

Return on Average Shareholders' Funds

2.3%

1.7%

7.2%

6.2%

(iii)

Non Interest Expenses to Gross Income

66%

63%

61%

60%

(iv)

Net Interest Income to Average Earning

2%

2%

2%

2%

Assets

SIGNED BY:

Dr. Ibrahim Mwangalaba

Managing Director

……………………………

27-Oct-23

CPA Nolasco Charles

Head of Finance

……………………………

27-Oct-23

CPA Kapilima Saidi

Head of Internal Audit

……………………………

27-Oct-23

SIGNED BY:

Mr. Amulike Ngeliama

Chairman

……………………………

27-Oct-23

CPA. Anna T. Mzinga

Director

……………………………

27-Oct-23

CURRENT QUARTER

CURRENT

ENDED 30TH

QUARTER ENDED

SEPT.2023

30TH JUNE 2023

I

Cash flow from operating activities

Net Income (Loss)

610

603

Adjustment for:

-Impairment/Armortization

501

827

-Depreciation and Armotization

69

66

-Prior Period Adjustment

-Net change in Loans and advances

(4,308)

(2,607)

-Gain/Loss on Sale of Assets

-Net change in Deposits

4,707

1,801

-Net change in Short term negotiable securities

(304)

(1,310)

-Net Change in Other Liabilities

886

112

-Net change in Other Assets

(512)

(664)

-Tax paid

(188)

(153)

-Others (Provisions)

-

-

Net cash provided (used) by operating activities

1,461

(1,325)

II

Cash flow from Investment activities

Dividend Received

Purchase of fixed assets

(30)

(83)

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

(30)

(83)

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)

2

Payment of cash dividends

Net change in other borrowings

(1,073)

2,156

Others (specify) Long term financing

Net cash provided (used) by financing activities

(1,075)

2,158

IV

Cash and Cash Equivalents:

Net increase/(decrease) in cash and cash

equivalent

356

750

Cash and Cash Equivalents at the beginning of

the period

25,895

25,145

Cash and Cash Equivalents at the end of

the period

26,251

25,895