AWACASH MICROFINANCE BANK LIMITED

Periodic Profit and Loss Report

01-May-2023 - 30-Sep-2023

Description Amount
Income
Income From Investments
CBN Deposit Interest Income 313,594.73
FIXED INCOME INVESTMENT INCOME A/C 155,835.62
Total Income From Investments 469,430.35
Interest On Loans And Advances
LOAN INT INCOME -AWAEDUCATION 52,086.24
LOAN INT INCOME -AWAFAITH-BASED 1,130,005.77
LOAN INT INCOME -AWAQUICK 1,840,201.14
LOAN INT INCOME -AWASALARY 18,018.94
LOAN INT INCOME -AWASBF 949,130.62
LOAN INT INCOME -AWASTAFF LOAN 13,244.72
Total Interest On Loans And Advances 4,002,687.43
Other Income
Commission
OTHER SERVICE FEE 250,000.00
Total Commission 250,000.00
Fees And Charges
ADMINISTRATIVE FEE 944,450.00
Awadaily Income 1,607,200.00
CRC CHARGES 35,000.00
FEE INCOME- CORPORATE CURRENT ACC 70,634.00
INSURANCE FEE INCOME 451,000.00
LOAN FEE INCOME -AWAQUICK 400,000.00
MANAGEMENT FEE 456,000.00
MOBILE INCOME 5,542.17
SMS INCOME 26,826.02
TRANSFER FEE INCOME 1,057.50
Total Fees And Charges 3,997,709.69
Total Income 8,250,397.12

Expense
Interest Expense
INTEREST EXPENSE- AWAFD 409,322.80
SAVINGS INT EXPENSE- AWAREGULAR 5,783.32

Printed by OKE, OLUSOJI at 08:56 AM, 07 Oct 2023 Page 1 of 8

Total Interest Expense 415,106.12
Operating Expenses
Depreciation Expense
DEPRECIATION 1,738,000.00
Total Depreciation Expense 1,738,000.00
Provision For Bad Debts
PROVISION EXPENSE 1,659,748.60
Total Provision For Bad Debts 1,659,748.60
Staff Costs
AWACASH STAFF SALARY 9,590,000.00
Total Staff Costs 9,581,500.00
Total Operating Expenses 13,394,354.72
Overheads
BANK CHARGES 323,159.94
BVN ENQUIRY EXPENSE 100.00
ELECTRICAL/ELECTRICTY FEE 10,000.00
EMAIL EXPENSE 15,000.00
ENTERTAINMENT 275,000.00
FUEL & LUBRICANTS 5,000.00
OFFICE RENT 375,000.00
OTHER OFFICE EXPENSES 421,900.00
OTHER OPERATING COST 1,032,130.80
PREPAYMENT EXPENSES SUNDRY 1,925,384.80
PRINTING & STATIONARY 500.00
SUBSCRIPTIONS 5,000.00
TRAINING AND CONSULTANCY 210,000.00
Total Overheads 4,598,175.54
Total Expense 17,992,530.26

Profit Before Tax -9,742,133.14

Printed by OKE, OLUSOJI at 08:56 AM, 07 Oct 2023 Page 2 of 8

CE BANK LIMITED
ss Report
ep-2023

Printed by OKE, OLUSOJI at 08:56 AM, 07 Oct 2023 Page 3 of 8

 894000
1,926,130.80
NOTE
3,379,415.60
1,032,140.00

Printed by OKE, OLUSOJI at 08:56 AM, 07 Oct 2023 Page 4 of 8

 AWACASH MICROFINANCE BANK LIMITED
Periodic Balance Sheet Report
01-May-2023 - 30-Sep-2023
Branch All

Description Amount
Assets
Balances With Banks
AWACASH MFB BANK BALANCES 26,868,650.47
Fixed Assets
Office Equipment
Property Plant and Equipment 18,806,000.00
Depreciation 1,738,000.00
17,068,000.00
Loans and Advances
Micro Loans
AWAEDUCATON LOAN 250,000.01
AWAFAITH-BASED LOAN 13,116,666.67
AWAQUICK LOAN 2,546,667.80
AWASALARY LOAN 1,183,051.51
Total Micro Loans 17,096,385.99
Small And Medium Enterprise Loans
AWASBF LOAN 15,365,135.04
AWASMEF 5,000,000.00
Total Small And Medium Enterprise Loans 20,365,135.04
Staff Loans
AWASTAFF LOAN 458,333.34
Total Staff Loans 458,333.34
Unpaid Micro Loans
Unpaid Micro Loan Principal
PRINCIPAL OVERDUE -AWAEDUCATION 10,024.99
PRINCIPAL OVERDUE -AWAFAITH-BASED 1,120,924.70
PRINCIPAL OVERDUE -AWAQUICK 1,974,558.81
PRINCIPAL OVERDUE -AWASALARY 0.93
Total Unpaid Micro Loan Principal 3,105,509.43
Total Unpaid Micro Loans 3,105,509.43
Unpaid Small And Medium Enterprise Loans
Unpaid Small And Medium Enterprise Loans Principal
PRINCIPAL OVERDUE -AWASBF 420,044.98
Total Unpaid Small And Medium Enterprise Loans Principal 420,044.98
Unpaid Staff Loans
Unpaid Staff Loans Principal
PRINCIPAL OVERDUE -AWASTAFF LOAN 125,000.00
Total Unpaid Staff Loans Principal 125,000.00
Total Loans and Advances 41,570,408.78
Other Assets
Accounts Receivable
LOAN INT OUTSTANDING -AWAFAITH-BASED 75,000.00
LOAN INT OUTSTANDING -AWAQUICK 11,985.27
LOAN INT OUTSTANDING -AWASBF 30,000.00
SMS UNPAID 4,958.98
Total Accounts Receivable 121,944.25
Accrued Interest Receivable
LOAN INT RECEIVABLE -AWAEDUCATION 2,586.24
LOAN INT RECEIVABLE -AWAFAITH-BASED 390,005.77
LOAN INT RECEIVABLE -AWAQUICK 90,967.28
LOAN INT RECEIVABLE -AWASALARY 6,802.52
LOAN INT RECEIVABLE -AWASBF 405,346.66
LOAN INT RECEIVABLE -AWASTAFF LOAN 494.72
Total Accrued Interest Receivable 896,203.19
Miscellaneous Other Assets
INTER-COMPANY BALANCE- ASSET 289,255.00
Total Miscellaneous Other Assets 289,255.00
Other Prepayments
SUNDRY EXPENSES- PRE OPERATIONAL 8,123,064.58
SOFTWARE DEVELOPMENT 5,000,000.00
Total Other Prepayments 13,123,064.58
Suspense Accounts( Assets)
SUSPENSE A/C (ASSETS) 798,299.47
Total Other Assets 15,228,766.49
Total Assets 100,735,825.74 0.00

Liabilities
Deposit Accounts
Demand Deposits
AWACORPORATE CURRENT 2,424,713.13
AWAINDIVIDUAL CURRENT 6,320.00
AWASTAFF CURRENT 2,689,618.25
Total Demand Deposits 5,120,651.38
Term Deposits
AWAFD 19,250,937.08
Total Term Deposits 19,250,937.08
Voluntary Savings Deposits
AWADAILY 854,982.22
AWAREGULAR 3,216,882.06
Total Voluntary Savings Deposits 4,071,864.28
Total Deposit Accounts 28,443,452.73
Other Liabilities
Accounts Payable
INSURANCE FEE 189,850.00
PAYEE/PENSION CONTRIBUTION 1,241,936.88
STAMP DUTIES 250.00
WITHHOLDING TAX 53,938.47
Total Accounts Payable 1,485,975.35
General Loan And Lease Loss Provision
GEN. PERFORMING LOAN PROVISION 238,616.31
Total General Loan And Lease Loss Provision 238,616.31
Interest Accrued Not Paid
INTEREST PAYABLE- AWAFD 36,336.39
Total Interest Accrued Not Paid 36,336.39
Interest In Suspense
LOAN INT IN SUSPENSE -AWAFAITH-BASED 75,000.00
LOAN INT IN SUSPENSE -AWAQUICK 11,985.27
LOAN INT IN SUSPENSE -AWASBF 30,000.00
Total Interest In Suspense 116,985.27
Miscellaneous Other Liabilities
AWADAILY CASH COLLECTION ( LIABILITY) 263,800.00
CREDITORS AND ACCRUALS (CONSULTANCY FEE) 300,000.00
LOAN (FROM DIRECTORS) 27,846,501.56
STAFF CONTRIBUTION 320,200.00
Total Miscellaneous Other Liabilities 28,730,501.56
Specific Loan And Lease Loss Provision
GEN. NON PERFORMING LOAN PROVISION 1,421,132.29
Total Specific Loan And Lease Loss Provision 1,421,132.29
Suspense Accounts( Liabilities)
CUSTOMER DEPOSIT SUSPENSE 3,000.00
Unearned Income
SMS SUSPENSE 4,958.98
Total Unearned Income 4,958.98
Total Liabilities 60,477,958.88 100,735,825.74

Share Holders Funds

Issued And Fully Paid Up Capital
Ordinary Shares
SHARE CAPITAL 50,000,000.00
Total Ordinary Shares 50,000,000.00
Total Issued And Fully Paid Up Capital 50,000,000.00
Unaudited Loss To Date -9,742,133.14
Total Share Holders Funds 40,257,866.86