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Financial Information

CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2022

2022 US$(IFRS)2021 US$(IFRS)
Interest income75,758,25574,110,411
Interest expense(25,170,036)(26,858,808)
NET INTEREST INCOME50,588,21947,251,603
Fees and commission income2,194,8401,924,673
Fees and commission expense(911,029)(1,072,245)
NET FEE AND COMMISSION INCOME1,283,811852,428
Impairment losses on financial assets(1,577,271)(2,334,727)
Other (losses)/gains – net(150,353)80,251
Other operating income402,679688,319
NET OTHER OPERATING LOSS(1,324,945)(1,726,659)
Personnel expenses(7,797,024)(8,176,152)
Depreciation and amortization(6,773,412)(7,761,253)
Other operating expenses(6,781,263)(7,585,131)
PROFIT BEFORE INCOME TAX29,195,38622,854,836
Income tax expense(5,885,012)(4,652,317)
NET PROFIT OF THE YEAR23,310,37418,202,519

CONSOLIDATED BALANCE SHEET AS OF 31-DEC-2022

ASSETS2022 US$(IFRS)2021 US$ (IFRS)
Cash and hand29,268,40835,428,236
Balance with the NBC83,264,68281,565,425
Balance with other banks and finance institutions62,108,80387,356,096
Loans to customers773,248,063742,346,672
Property and equipment12,778,87213,792,136
Intangible assets5,097,1526,658,228
Right-of-use assets9,889,5189,697,968
Deferred tax assets
Other assets6,498,8828,683,216
TOTAL ASSETS982,154,380985,527,977

LIABILITIES AND EQUITY

LIABILITIES2022 US$(IFRS)2021 US$(IFRS)
Deposits from customers549,350,759646,376,177
Deposits from other banks173,064,25497,992,038
Other liabilities64,089,13767,319,906
TOTAL LIABILITIES786,504,150811,688,121
EQUITY2022 US$(IFRS)2021 US$(IFRS)
Share capital114,000,000102,000,000
Regulatory reserves36,047,78114,852,049
Retained earnings45,602,44956,987,807
TOTAL EQUITY195,650,230173,839,856
TOTAL LIABILITIES AND EQUITY982,154,380985,527,977
PROFIT AFTER TAX(USD 000)
GROSS INCOME(USD 000)
TOTAL ASSET (USD 000)
SHAREHOLDER’S EQUITY (USD 000)
LOAN OUTSTANDING (USD 000)
TOTAL DEPOSITS (USD 000)
PIPELINE OF TOTAL ASSETS AS OF DECEMBER-2022| US$ 982 MILLION (C-IFRS)
TOTAL LIABILITIES AND EQUITY DEC-2022 (SHAREHOLDERS EQUITY US$ 196 MILLION / PAID UP CAPITAL US$ 114 MILLION) (C-IFRS)