CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2023
| 2023 US$(IFRS) | 2022 US$(IFRS) | |
|---|---|---|
| Interest income | 90,601,397 | 75,758,255 |
| Interest expense | (35,961,221) | (25,170,036) |
| NET INTEREST INCOME | 54,640,176 | 50,588,219 |
| Fees and commission income | 3,221,706 | 2,194,840 |
| Fees and commission expense | (1,112,994) | (911,029) |
| NET FEE AND COMMISSION INCOME | 2,108,712 | 1,283,811 |
| Impairment losses on financial assets | (3,384,434) | (1,577,271) |
| Other (losses)/gains – net | 494,590 | (150,353) |
| Other operating income | 60,773 | 402,679 |
| NET OTHER OPERATING LOSS | (2,829,071) | (1,324,945) |
| Personnel expenses | (8,595,092) | (7,797,024) |
| Depreciation and amortization | (6,433,075) | (6,773,412) |
| Other operating expenses | (5,917,565) | (6,781,263) |
| PROFIT BEFORE INCOME TAX | 32,974,085 | 29,195,386 |
| Income tax expense | (6,629,627) | (5,885,012) |
| NET PROFIT OF THE YEAR | 26,344,458 | 23,310,374 |
CONSOLIDATED BALANCE SHEET AS OF 31-DEC-2023
| ASSETS | 2023 US$(IFRS) | 2022 US$ (IFRS) |
|---|---|---|
| Cash and hand | 30,474,497 | 29,268,408 |
| Balance with the NBC | 82,308,798 | 83,264,682 |
| Balance with other banks and finance institutions | 84,263,488 | 62,108,803 |
| Loans to customers | 836,931,821 | 773,248,063 |
| Property and equipment | 12,007,648 | 12,778,872 |
| Intangible assets | 3,427,090 | 5,097,152 |
| Right-of-use assets | 9,737,062 | 9,889,518 |
| Deferred tax assets | – | – |
| Other assets | 6,405,356 | 6,498,882 |
| TOTAL ASSETS | 1,065,555,760 | 982,154,380 |
LIABILITIES AND EQUITY
| LIABILITIES | 2023 US$(IFRS) | 2022 US$(IFRS) |
|---|---|---|
| Deposits from customers | 593,442,725 | 549,350,759 |
| Deposits from other banks | 196,271,611 | 173,064,254 |
| Other liabilities | 55,846,736 | 64,089,137 |
| TOTAL LIABILITIES | 845,561,072 | 786,504,150 |
| EQUITY | 2023 US$(IFRS) | 2022 US$(IFRS) |
|---|---|---|
| Share capital | 114,000,000 | 114,000,000 |
| Regulatory reserves | 43,787,058 | 36,047,781 |
| Retained earnings | 62,207,630 | 45,602,449 |
| TOTAL EQUITY | 219,994,688 | 195,650,230 |
| TOTAL LIABILITIES AND EQUITY | 1,065,555,760 | 982,154,380 |