Kenya Women Finance Trust Deposit Taking Microfinance Limited(KWFT DTM)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2011
|
STATEMENT OF FINANCIAL POSITION
|
31st-Dec-11
Kshs 000
|
31st-Dec-10
Kshs 000
|
| 1.0 ASSETS |
|
|
| 1.1 Cash(Both local and foreign) |
241,763 |
54,807 |
1.2 Balances due from Central Bank of Kenya
|
_ |
_ |
| 1.3 Kenya Goverment Securities |
57,798 |
99,239 |
| 1.4 Foreign Currency treasury bills and bonds |
_ |
_ |
1.5 Deposits and balances due from local banking institutions
|
3,743,097 |
6,169,090 |
1.6 Deposits and balances due from banks and institutions abroad
|
_ |
_ |
1.7 Goverment and other securities held for dealing purposes
|
_ |
_ |
1.8 Tax recoverables
|
97,343 |
_
|
1.9 Loans and advances to customers (net)
|
11,199,688 |
11,627,407 |
1.10 Investment Securities
|
_ |
_ |
1.11 Balances due from group companies
|
_ |
_ |
1.12 Investments in associates
|
_ |
_ |
1.13 Investments in subsidiaries companies
|
_ |
_ |
1.14 Investment in joint ventures
|
_ |
_ |
1.15 Investment properties
|
_ |
_ |
| 1.16 Property and equipment |
1,304,386 |
659,970 |
| 1.17 Prepaid operating rental leases |
_ |
_ |
| 1.18 Intangible assets |
8,853 |
10,806 |
| 1.19 Defered tax asset |
228,689 |
108,902 |
| 1.20 Retirement benefit asset |
_ |
_ |
| 1.21 Other assets |
154,168 |
228,173 |
1.15 TOTAL ASSETS
|
17,035,785 |
18,958,394 |
2.0 LIABILITIES
|
|
|
2.1 Balances due to central bank of Kenya
|
_ |
_
|
2.2 Customers deposits
|
7,076,880 |
6,162,814 |
2.3 Deposits and balances due to local banking institutions
|
_ |
_ |
2.4 Deposits and balances due to foreign banking institutions
|
_ |
_ |
2.5 Other money market deposits
|
_ |
_ |
2.6 Borrower funds
|
7,187,404 |
10,273,302 |
2.7 Balances due to group companies
|
_ |
_ |
| 2.8 Tax payable |
_ |
243,110 |
| 2.9 Dividends Payable |
_ |
_ |
| 2.10 Deffered tax liability |
_ |
_ |
| 2.11 Retirement benefit liability |
_ |
_ |
| 2.12 Other liability |
846,741 |
656,857 |
2.13 TOTAL LIABILITIES
|
15,111,005 |
17,336,083 |
3.0 SHAREHOLDERS EQUITY
|
|
|
| 3.1 Paid-up/Assigned Capital |
100,000 |
100,000 |
| 3.2 Share premium |
1,200,705 |
1,200,705 |
3.3 Other reserves
|
_ |
_ |
3.4 Retained earnings
|
526,255 |
235,986 |
| 3.5 Statutory loan reserves |
97,820 |
85,620 |
| 3.6 Proposed dividends |
_ |
_ |
| 3.7 Capital grants |
_ |
_ |
| 3.8 Total shareholders funds |
1,924,781 |
1,622,311 |
| 3.9 Total Liabilities and shareholders funds |
17,035,785 |
18,958,394 |
|
|
|
|
STATEMENT OF COMPREHENSIVE INCOME
|
31st-Dec-2011
KSh 000
|
31st-Dec-2010
KSh 000
|
| 4.0 INTEREST INCOME |
|
|
4.1 Loans and Advances
|
3,366,506 |
3,499,721 |
4.2 Goverment Securities
|
7,525 |
4,867 |
| 4.3 Deposits and Placement with banking institutions |
239,524 |
87,815 |
4.4 Other Interest income
|
_ |
_ |
| 4.5 Total Interest Income |
3,613,555 |
3,592,403 |
| 5.0 INTEREST EXPENSE |
|
|
| 5.1 Customer Deposits |
115,345 |
105,849 |
5.2 Deposits and placements with banking institutions
|
_ |
_ |
5.3 Other interest expenses
|
1,029,535 |
811,111 |
5.4 Total interest expenses
|
1,144,876 |
916,960 |
| 5.5 Net interest income |
2,468,680 |
2,675,443 |
| 6.0 OTHER OPERATING INCOME |
|
|
6.1 Fees and comissions loans and advances
|
263,987 |
273,573 |
6.2 Other Fees and Commissions income
|
204,701 |
30,491 |
6.3 Foreign exchange gains income(loss)
|
(47,043) |
(3,763) |
| 6.4 Other income |
50,405 |
28,069 |
| 6.5 Total non-interest income |
471,650 |
328,370 |
| TOTAL OPERATING INCOME |
2,940,329 |
3,003,813 |
| 7.0 OPERATING EXPENSES |
|
|
7.1 Loan loss provision
|
(224,488)
|
(112,684) |
| 7.2 Staff costs |
1,590,017 |
1,374,320 |
| 7.3 Directors emoluments |
50,556 |
41,565 |
7.4 Operating lease rental
|
150,288 |
113,407 |
| 7.5 Depreciation charge on property and equipment |
165,889 |
101,263 |
| 7.6 Amortization charges(intangible) |
3,285 |
3,190 |
7.7 Other Operating expenses
|
949,140
|
842,389 |
7.8 Total Operating expenses
|
2,684,689
|
2,588,808 |
| 7.9 Operating Profit |
255,640 |
415,005 |
| 7.10 Grant Income |
70,722
|
49,880 |
7.11 Profit(loss) before tax
|
326,362
|
464,886 |
| 7.12 Current tax |
143,680 |
252,181 |
| 7.13 Defered tax |
(119,787) |
(108,902) |
7.14 Profit/Loss after tax
|
302,470
|
321,607 |
|
|
|
| |
|
| OTHER DISCLOSURES |
31st-Dec-2011
Ksh 000
|
31st-Dec-2010
Ksh 000
|
1 NON-PERFORMING LOANS AND ADVANCES
|
|
(a) Gross non-performing Loans and advances
|
775,346 |
1,922,276 |
(b) Less interest in suspense
|
73,383 |
15,070 |
(c) Total Non-performing loans and advances(a-b)
|
701,963 |
1,907,206 |
(d) Less loan loss provision
|
256,935 |
649,980 |
(e) Net Non-Performing Loans and Allowances(c-d)
|
445,028 |
1,257,225 |
(f) Discounted value of securities
|
445,028 |
1,257,225 |
(g) Net NPLs Exposure(e-f)
|
_ |
_ |
2 INSIDER LOANS AND ADVANCES
|
|
|
(a) Directors,Shareholders and Associates
|
8,124
|
4,807 |
(b) Employees
|
125,331
|
66,618 |
(c) Total insider Loans, Advances and Other facilities
|
133,455
|
70,425 |
3 OFF-BALANCE SHEET ITEMS
|
|
|
(a) Letter of credit, guarantees, acceptances
|
8,124 |
4,807 |
(b) Other Contingent Liabilities
|
16,418
|
45,196 |
(c) Total Contingent Liabilities
|
17,092
|
93,407 |
4 CAPITAL STRENGTH
|
|
|
(a) Core capital
|
1,826,960 |
1,536,691 |
(b) Minimum Statutory capital
|
60,000 |
60,000 |
(c) Excess/Deficiency (a-b)
|
1,766,960 |
1,476,695 |
(d) Supplementary Capital
|
497,820 |
485,620 |
(e) Total Capital(a+d)
|
2,324,781 |
2,022,311 |
(f) Total Risk Waited Assets
|
13,741,747 |
13,706,383 |
(g) Core capital/Total Deposit Liabilities
|
28% |
25% |
(h) Minimum Statutory Ratio
|
8% |
8% |
(i) Excess(g-h)
|
18% |
17% |
(j) Core capital/ Total Risk weighted assets
|
13% |
11% |
(k) Minimum statutory ratio
|
10% |
10% |
(l) Excess(j-k)
|
3% |
1% |
| 17% |
15% |
(n) Minimum Statutory Ratio
|
12% |
12% |
| (o) Excess(m-n) |
5% |
3% |
5 LIQUIDITY
|
|
|
| (a) Liquidity Ratio |
39% |
66% |
| (b) Minimum statutory Ratio |
20% |
20% |
| (c) Excess/Deficiency(a-b) |
19% |
46% |
|
