CAPITAL - Ebonyi State University Microfinance bank has an authorized share capital of N44,816,511, made up at N500,000,000 ordinary shares of N1 each. While the share premium of EBSU MFBL was N1,660,312. Ebonyi State University Microfinance bank’s (EBSU, MFBL) statutory reserve as at 20^th July 2012 was N40,000,000 with Revenue Reserve of N39,700,000. EBSU MFBL had interest income of N75671121 and interest expense of N12,268,602. With profit of N98,737,647 as at 20^th July 2012.

Balance sheet analysis of EBSUS MFBL - A balance sheet is a brief description of the financial condition of an establishment. The balance sheet analysis shows the assets, liabilities and equity of an organization as at a specific date, such as end of a financial year.

The balance sheet analysis of Ebonyi State University Microfianance Bank Ltd as shown below is as at 20^th July, 2012.

FINANCIAL STATE OF EBSU MFBL AS AT 20^TH JULY 2012

LIABILITIES

DR CR

NOTE TO ACCOUNTS AS AT 20^TH JULY, 2012.

ASSETS

Microcredit loans	25,102,251
Small and medium enterprise loan	16,100,000
Staff loan	2,304,305
Sub Total	N43,506,556

FIXED ASSETS

Pre-operational expenses		650,000
Pre-paid expenses	770,000
Pre-paid insurance	1,200,000
Stock of stationaries		978,708
Cheques for collection		202,414
Accrued interest receivable	1,070,000
Sub Total	3,040,000	1,831,122

PLACEMENT WITH OTHER BANKS

First Bank Plc 3 Water Workers	1,200,700
Diamond Bank Plc CAS	5,505,100
Fidelity Bank Plc, Ogoja Road		100,000
UBA Ogoja Road	7,000,000
Enterprise Bank Ltd, Ogoja Road	298,984
Skye Bank Plc Afikpo Road Ai	887,800
Fixed Deposit Account – First Bank Plc	1,000,000
Fixed Deposit Account- UBA	5,955,160
Fixed Deposit Account- Eco bank plc	1,650,888
Treasury bills	11,836,496
Sub total	35,335,128	100,000

NET ASSETS

N111,006,249

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LIABILITIES

CURRENT LIABILITIES

Holdover resources	900,000
Current account demand deposit		1,507,606
Savings and voluntary deposit		2,404,435
Fixed deposit		606,611
Sub total	900,000	4,518,652

Acc dept. land and building (1% p.a)		30,000
Acc dept. plant and machinery (20%p.a)		1,016,000
Acc dept. Furniture and fittings (20%p.a)		444,000
Acc dept. motor vehicle (25% p.a)		1,576,750
Acc dept. office equipment (20%p.a)		60,000
Acc dept. computer equipment (20% p.a)		2,123,200
Uncleared effects	800,000
PAYE	12,000
Account payable		2,000,000
Provision for loan loses		500,000
Sub Total	812,000	7,749,950