FINANCIAL ANALYSIS

Coastline Microfinance Bank Limited has in recent years experienced a meteoric rise in profit making mostly due to improved Management expertise and it remains set on a collision course with unprecedented and greater achievements while providing efficient and professional services to keep its customers satisfied.

 

Statement of Financial Position As At 31 December 2016

          31-Dec-16          31-Dec-15
Assets             N                N
Cash and cash equivalent 34, 907, 464 57, 327, 729
Available For Sale Securities 5, 000, 138 4, 774, 045
Held to Maturity Securities 13, 000, 000 12, 762, 999
Loans and Advances 196, 551, 650 159, 136, 592
Other Assets 41, 776, 491 21, 747, 455
Intangible Assets 10 10
Property, Plant and Equipment 15, 694, 466 17, 788, 091
Total Assets 289, 850, 080 256, 881, 396
     
Liabilities    
Deposit Liabilities 191, 872, 529 192, 732, 038
Other Liabilities 26, 219, 696 23, 329, 807
Tax Liabilities 9, 214, 937 3, 993, 247
Total liabilities 210, 483, 738 203, 399, 567
     
Capital and Reserves    
Share Capital 46, 440, 016 44, 523, 349
Share Premium 8, 952, 945 8, 569, 611
Statutory Reserves 33, 670, 724 21, 584, 400
Non Distributable Regulatory Reserve 5, 306, 824 5, 894, 964
General Reserves 15, 700, 636 27, 090, 494
Share holders’ Fund 79, 366, 339 53, 481, 830
Total Liabilities+Shareholders’ Fund 289, 850, 080 256, 881, 396

Statement of Comprehensive Income For The Year Ended 31 December 2016

        31-Dec-16        31-Dec-15
               N               N
Gross Earnings 125, 356, 206 94, 788, 099
Profit before Taxation 32, 115, 483 2, 688, 803
Taxation 7, 942, 835 1, 529, 158
Profit after Taxation 24, 172, 648 1, 159, 645
APPROPRIATION    
Retained Profit for the year 12, 086, 324 579, 823
Retained Loss b/f (27, 090, 494) (27, 670, 317)
Retained Loss c/f (15, 004, 170) (27, 090, 494)

 

OTHER PARTNERSHIP:

Coastline Microfinance Bank Limited has remained undeterred and continues to blaze trails in seeking out income generating opportunities and partnerships with other financial organizations amongst which include;

  • ECOBANK Remitta Agency: The Bank has successfully partnered with ECOBank Plc (ETI) to be its first Microfinance Bank sub-agents to International Financial Agencies such Western Union, MoneyGram, Rapid Transfer thereby creating more opportunities not only for the Bank and also convenient and improved banking for its customers within its area of operations.

 

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