NPF
.lh:rolin:111n· B.u1I,,.. l'lf
NPF MICROFINANCE BANK PLC
RC. 220824
1ST QUARTER REPORT
31 MARCH 2022
NPF Micrnjimmce JJ1111J. P/.C tst Q11arrer Report -31 March 2022
STATEMENT OF FINANCIAL POSITION | |||
AS AT | |||
Audited | |||
/11 thousands of naira | Note | 31-Mar-2022 | 31-Dec-2021 |
ASSETS | |||
Cash and cash equivalents | 15 | 10,026,225 | 6,610,039 |
Pledged assets | 16 | 817,820 | 842,096 |
Loans and advances to customers | 17 | 20,590,810 | 17,447,816 |
Investment securities | 18 | 1,005,136 | 1,004,954 |
Other assets | 19 | 813,744 | 5,010,232 |
Property and equipment | 20 | 986,108 | 1,007,541 |
Intangible asset | 21 | 40,006 | 44,667 |
TOTAL ASSETS | 34,279,849 | 31,967,345 | |
LIABILITIES | |||
Deposits from customers | 22 | 16,280,009 | 16,278,901 |
Borrowings | 23 | 2,359,039 | 2,708,090 |
Currenttax liabilities | 14(b) | 88,581 | 332,353 |
Deferred tax liabilities | 14(c) | 71,370 | 71,370 |
Other liabilities | 24 | 4,642,810 | 6,845,666 |
TOTAL LIABILITIES | 23,441,809 | 26,236,380 | |
CAPITAL AND RESERVES | |||
Share capital | 25 | 2,696,829 | I, 143,328 |
Share premium | 26(a) | 4,624,486 | 1,517,485 |
Retained earnings | 26(b) | 1,582,366 | 1,140,649 |
Fair value reserve | 26(c) | (2,141) | (6,997) |
Statutory reserve | 26(d) | 1,513,373 | 1,513,373 |
Regulatory risk reserve | 26(e) | 423,127 | 423,127 |
TOTAL EQUITY | 10,838,040 | 5,730,965 | |
TOTAL LIABILITIES AND EQUITY | 34,279,849 | 31,967,345 |
Thefinancial statements were approved by the Board of Directors on 28 April 2022 and signed on its behalf t-v:
F.C. Nelson, FCA
Chief Financial Officer FRC/2014/ICAN/00000006856
The accompanying notes are an integral part of these financial statements.
Managing Director/Chief Executix c Officer FRC/20 l 4/CIBN/00000006345
NPF Microfinance /Jank PLC Isl Quarter Report - 3/ March 2022
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED
/11 thousands of nalra | Note | 31-Mar-2022 | 31-Mar-2021 |
Gross earnings | 1,468,398 | 1,291,854 | |
Interest income calculated using the effective interest method | 7 | 1,290,291 | 1,122,290 |
Interest expense | 8 | (174,081) | (128,080) |
Net interest income | 1,116,210 | 994,210 | |
Fee and commission income | 9 | 171,252 | 160,837 |
Revenue | 1,287,462 | 1,155,047 | |
Other income | IO | 6,855 | 8,727 |
Net impairment writeback on financial instruments | 11 | 20,522 | |
Personnel expenses | 12 | (459,151) | (412,067) |
Administration and general expenses | 13 | (447,825) | (398,484) |
Depreciation of property and equipment | 20 | (65,440) | (53,876) |
Amortisation of intangible assets | 21 | (4,661) | (5,010) |
Profit before tax | 317,240 | 314,859 | |
Income tax expense | 14(a) | (79,310) | (78,715) |
Profit for the period | 237,930 | 236,144 | |
Other comprehensive loss | |||
Items that will never be reclassified to profit or loss | |||
Equity investment at fair value through OCI | 18(a) | 4,856 | 6,341 |
Other comprehensive loss for the period | 4,856 | 6,341 | |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 242 786 | 242 485 | |
Basic and diluted earnings per share (kobo) | 32 | 4 | 10 |
The accompanying no/es are an integral part of these financial statements.
2
NPF Microfi,umce Bani, Pl.
IM Quarter Report - JI March 20;
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 MARCH 2022
Share CapitalShare Premium
Balance at 1 January 2022 1,143,328 1,517,485
RegulatoryRetained Earnings 1,140,649
Fair Value
ReserveStatutory
Reserve 1,513,373
Risk ReserveTotal
(6,997
I
423,127 5,730,965
Increase in share capital 1,553,501 3,107,001 4,660,502
2,696,829 4,624,486
Total comprehensive income Profit for the year
Audit adjustments
Other comprehensive loss
Fair value reserve (FVOCI equity instruments):
Equity investments at FVOCI - net change in fair value Gain on derecognition of equity investments
Total other comprehensive loss
Total comprehensive income Transfer to statutory reserve Transfer to regulatory risk reserve
Contributions by and distributions to equity holders Dividend paid
Total contributions and distributions
Balance at 31 March 2022 2,696,829 4,624,486
FOR THE PERIOD ENDED 31 MARCH 2021
Balance at 1 January 2021 Total comprehensive income Profit for the period
Audit adjustments
Other comprehensive loss
Fair value reserve (FVOCJ equity instruments):
Equity investments at FVOCJ - net change in fair value Total other comprehensive loss
Total comprehensive income Transfer to statutory reserve Transfer to regulatory risk reserve
Contributions by and distributions to equity holders Dividend paid
Total contributions and distributions Balance at 31 March 2021
Share Cal!ital 1,143,328
1,143,328
The accompanying notes are an integral part of these financial statements.
1,140,649
(6,997
I
1,513,373 423,127 10,391,467
237,930 237,93(
203,787 203,78,237,930
1,582,366
Share Premium 1,517,485
Retained Earnin~s 1,127,458 236,144 343,160
579,304
1,517,485 1,706,762
4,856 4,856
4,856 4,856
4,856 242,786
(2,141)
1,513,373
423,127 10,838,040
RegulatoryFair Value
Reserve (6,217)Statutory
Reserve 1,424,936
Risk ReserveTota
274,594 5,481,58<
236,14t 343, 16(
6,341 6,341
6,341 6,341
6,341 585,645
124
1,424,936
274,594 6,067,22!
NPF Microfinance IJt111/, PJ.C 1st Quarter Report - 31 March 2022
STATEMENTOF CASH FLOWS
FOR THE PERIOD ENDED
/11 thousands of naira
Cash flows from operating activities Profit for the period
Add: Tax expense Profit before tax Adjustments for:
Depreciation of property and equipment Amortization of intangible assets
Note
31-Mar-21122
31-Mar-2021
237,'-J .o 236,144
14(a)
79,3 I 0 78,715
317,210 314,859
20 21
65,410 53,876
4,61,I 5,010
Net impairment loss on loans and advances to customers II (20,522)Net impairment loss on cash and cash equivalents Net impairment loss on pledged assets
Net impairment loss on other assets
Net impairment (gain)/ loss on investment securitiesII II II ]]
Interest income 7
Interest expense 8
Profit on sale of property and equipment 10
Gain on disposal of treasury bills 10
Gain on derecognition of lease liability 10
Changes in:
- pledged assets
- loans and advances to customers
- other assets
- deposits from customers
- other liabilities
Interest received Interest paid
Tax paid 14(b) VAT paid 24
Net cash generated from operating activities
Cash flows from investing activities Acquisition of property and equipment
Acquisition of intangible assets 21 Payment for new leased properties
Proceeds from disposal of property and equipment Purchase of treasury bill investments
Proceeds from disposal of treasury bill investments Net cash flows used in investing activities
Cash flows from financing activities
Repayment of principal on borrowings 23(b)
Repayment of interest on borrowings 23(b)
Payment of principal on lease liability 24(c)(i)
Payment of interest on lease liability 24(c)(i)
(l ,290,2 '!I)
(1,122,290)
174,0S l
((,3)
128,080 (1,740)
(728,9 ;2) (642,727)
30,219 (13,579)
(3,125,9"8) 3,839, 1,,0
(3,818,891)
(226,723)
(IO,rO)
(4,762,171)
(2,l 99,8 '2) (2, 196,3113) 2,259,rs
3,348,130
(6,115,961)
1,826,222
(486,9,,9) (128,102)
(323,0,,2) (247,862)
( 15,3,,I)
(762,4-0)
(4,665,703)
(J,21r5)
(75,988) (I 6,125)
(26,TJ) (7,695)
113 1,740
(27,415) (98,068)
(405,4~8) (299,354)
(28,5~8) (44,354)
( 13,61, I) (8,778) (6,8.'1))
Additions to borrowings 23(b) 390,000 Dividend paid
Proceeds from increase in share capital
Net cash (used in)/gcncratcd from financing activities
Net increase in cash and cash cqnivalcnts
Cash and cash equivalents as at I January Cash and cash cguivalents as at 31 March
The accompanying notes are an integral part of these financial statements.
SOCIE
4,660,51, ~
4,205,9li5 37,514
15
3,416,1110 6,610,%•) 10,027,08')
(4,726,257) 5,678,752 952,495
4
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NPF Micro Finance Bank plc published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 16:32:07 UTC.