Income Statement for JV MFO Microinvest LLC


		2006	2007	2008	2009	2010
Start date		2006-01-01	2007-01-01	2008-01-01	2009-01-01	2010-01-01
As of date		2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31
Currency		USD	USD	USD	USD	USD
Financial revenue		1,010,612	2,661,812	6,543,463	10,103,327	5,501,335
Interest and fee income		994,272	2,627,159	6,737,396	10,088,568	5,515,500
Revenue from interest		856,458	2,297,257	5,410,943	7,383,220	4,109,040
+ Interest income on loan portfolio		742,182	1,963,809	4,693,186	6,338,769	3,366,240
+ Products (credit)
Retail loans	—	—	—	—	—	—
Interest income from investments		114,276	333,447	716,807	0	742,547
Other interest income		—	—	949	1,044,451	254
Fee and commission income		137,814	329,903	1,326,454	2,705,348	1,406,460
+ Fee and commission income on loan portfolio		137,814	329,903	545,601	675,115	288,375
+ Products (credit)
Retail loans	—	—	—	—	—	—
Income from penalty fees on loan portfolio		—	—	780,852	2,030,233	1,118,086
Fee and commission income from other financial services		—	—	—	—	—
Other fee and commission income		—	—	—	—	—
Other operating income		16,340	34,653	11,419	19,544	16,022
Gains (losses) on exchange differences on translation recognised in profit or loss		—	—	-205,353	-4,786	-30,187
Gains (losses) on disposals of property, plant and equipment		—	—	—	—	—
Gains (losses) on financial assets		—	—	—	—	—
Gains (losses) on financial liabilities at fair value through profit or loss		—	—	—	—	—
Gains (losses) on held-to-maturity investments		—	—	—	—	—
Gains (losses) on loans and receivables		—	—	—	—	—
Gains (losses) on available-for-sale financial assets		—	—	—	—	—
Gains (losses) on financial liabilities at amortised cost		—	—	—	—	—
Gains (losses) on net monetary position		—	—	—	—	—
Financial expense		455,481	1,746,319	3,496,919	5,380,982	3,187,905
Interest and fee expense		351,871	1,632,104	3,115,096	4,122,509	2,380,990
Interest expense		—	—	3,115,096	4,122,509	2,380,990
Interest expense on borrowings		—	—	3,115,096	4,122,509	2,380,990
Interest expense on deposits		—	—	—	0	0
Interest expense on subordinated debt		—	—	—	—	—
Fee expense		—	—	—	0	—
Fee and commission expense on deposits		—	—	—	—	—
Fee and commission expense on borrowings		—	—	—	—	—
Other fee and commission expense		—	—	—	—	—
Other financial expense		103,610	114,215	381,823	1,258,473	806,915
Net impairment loss, gross loan portfolio		26,938	158,060	816,885	3,839,353	1,465,264
Impairment loss (reversal of impairment loss), gross loan portfolio		28,322	158,060	842,855	4,029,997	1,927,942
Recoveries on loans written off		1,384	0	25,970	190,644	462,678
Operating expense		505,408	730,953	1,892,146	2,146,087	2,134,603
Personnel expense		259,908	346,700	932,303	1,043,687	1,038,728
Depreciation and amortisation expense		18,213	39,663	86,671	149,467	127,173
Administrative expense		227,286	344,589	873,171	952,933	968,703
Net operating income		22,784	26,480	337,514	-1,263,095	-1,286,437
Non operating income		0	0	0	0	0
Net Income before taxes and donations		22,784	26,480	337,514	-1,263,095	-1,286,437
Tax expense		91,925	-45,859	—	0	240
Net Income after taxes and before donations		-69,140	72,339	337,514	-1,263,095	-1,286,676
Donations		105,028	10,824	23,881	35,918	10,740
Net income after taxes and donations		35,888	83,163	361,395	-1,227,177	-1,275,936

MFI Report

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