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.