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 2019

          31-Dec-19          31-Dec-18
Assets             N                N
Cash and Balances with Banks 36, 279, 357 51, 318, 431
Available For Sale Securities 3, 475, 884 4, 633, 742
Treasury Bill 12, 871, 690 12, 953, 726
Loans and Advances 240, 324, 343 202, 712, 091
Other Assets 1, 255, 205 5, 459, 543
Property, Plant and Equipment 5, 982, 284 9, 758, 661
Intangible Assets 10 10
Total Assets 300, 188, 774 286, 836, 204
     
Liabilities    
Deposit Liabilities

On-lending Funds

161, 145, 934

33, 890, 353

146, 882, 038

33,550, 353

Other Liabilities 6, 607, 046 10, 145, 762
Income Tax Liabilities

Deferred Tax Liabilities

2, 435, 021

1, 124, 306

2, 393, 572

1, 778, 026

Total liabilities 205, 202, 661 195, 130, 218
     
Capital and Reserves    
Share Capital 46, 440, 016 46, 440, 016
Share Premium 8, 952, 945 8, 952, 945
Statutory Reserves 26, 216, 323 25, 396, 291
Non Distributable Regulatory Reserve

Other Component of Equity

3, 471, 741

 

3, 289, 824

2, 738, 279

Retained Earnings 9, 905, 088 4, 888, 631
Total Equity  94, 988, 114 91, 705, 987
Total Liabilities+Shareholders’ Fund 300, 188, 774 286, 836, 204

Statement of Comprehensive Income For The Year Ended 31 December 2019

        31-Dec-19        31-Dec-18
               N               N
Gross Earnings 84, 147, 015 86, 588, 909
Profit before Taxation 4, 937, 392 3, 780, 887
Taxation (1, 657, 264) (2, 137, 618)
Profit after Taxation 3, 280, 128 1, 643, 269
 

Other Comprehensive Income

Net Loss on Available – for – Sale Financial Assets

Total Comprehensive Income

APPROPRIATION

 

 

 

3, 280, 128

 

 

(307, 608)

1, 335,  660

Statutory Reserves 

Retained Profit for the year

(820, 032)

2, 460, 096

(667, 830)

667, 830

Retained Profit  b/f 4, 888, 631 1, 758, 491
Retained Profit c/f 9, 905, 088 4, 888, 631

 

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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