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Customer Question

Please send the output excel sheet toXXX@XXXXXX.XXX with the xlsx filename (Test for candidates-2012-protected)

Question Below

Starting with the 2011 figures and given the calculation rules below, project the income statement and balance sheet for 2012 to 2021
a) Use the assumptions of the Base Case described below
b) Build a dialogue box using Visual Basic to allow a user to select from the following two pre-set scenarios. Include a VBA script to allow the user to reset to the base case. Please list any simplying assumptions you make.
- Scenario A: loans grow at 2%, administrative expenses grow at 5%, all other assumptions as described in base case
- Scenario B: loans grow at 10%, administrative expenses grow at 0%, all other assumptions as described in base case

Assumptions (Input Required) Base Case
Spread on Investments 0.30%
Spread Earned on Loans 0.65%
Equity Earnings rate 5.00%
Annual Growth Rate in Admin Expense 3.00%
Rate of Loan Loss Provisions 1.00%
Rate of Loan Growth 5.00%

Calculation rules
1 Investment Spread Income is calculated by the Spread on Investments multiplied by the volume of Investments at the end of the previous year
2 Loan Spread Income is calculated by the Spread Earned on Loans multiplied by the volume of Loans Outstanding at the end of the previous year
3 Equity Earnings are calculated by the Equity Earnings Rate multiplied by the volume of Equity at the end of the previous year
4 The Loan Loss Provisions expense is calculated by the Rate of Loan Loss Provisions multiplied by the increase in Loans Outstanding each year
5 The portion of Net Income that is Retained in Reserves increases Equity at the end of the year. There is a target Equity-to-Loans ratio of 25%, and to the extent that retentions in reserves are not required to meet this target in any year, Net Income should be distributed that year in the form of External Transfers (which are donations to worthy causes)
6 From 2012 on, Investment assets held at the end of the year t will equal 50% of the expected increase in Loans Outstanding in year t+1 plus 30% of Borrowings in year t-1
7 To the extent that there is a funding gap on the Balance sheet, Borrowings must be incurred (i.e. Borrowings is the "plug" to ensure that Assets equal Liabilities and Equity)
8 Accumulated Loan Loss Provisions increase between year t and year t+1 by the amount of Loan Loss Provisions expensed in year t+1

Solutions (Output) ($ Million)
Income Statement Yr 2011

Income (Net of Funding Costs) 1,758
Investment Spread Income 94
Loan Spread income 707
Equity Earnings 957
Expenses 506
Admin Expenses 1,008
Loan Loss Provisions (LLP) -502
Net Income 1,252
Retained in Reserves 0
External Transfers 1,252

Balance Sheet Yr 2011
Earning Assets 130,573
Investments 26,170
Loans Outstanding 104,403
Total Liabilities and Equity 130,573
Borrowings 96,232
Equity 31,319
Accumulated Loan Loss Provisions 3,022
Submitted: 2 years ago.
Category: Microsoft Office
Expert:  Lindie-mod replied 2 years ago.
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