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Financial Information

CONSOLIDATED INCOME STATEMENT AS AT 31-Dec-2017

 2017 US$2017 US$
Interest income37,565,67428,561,359
Interest expense(17,311,957)(14,630,417)
Net interest income20,253,71713,930,942
Fees and commission income6,327,0534,146,494
Fees and commission expense(224,542)(325,105)
Net fee and commission income6,102,5113,821,389
Other income385,993306,790
Total net operating income26,742,22118,059,121
General and administrative expense(10,511,872)(13,155,044)
Allowance for bad and doubtful Loans and advances(1,777,620)(1,345,249)
Profit before income tax14,452,7293,558,828
Income tax expense(2,884,487)(1,104,117)
NET PROFIT OF THE YEAR11,568,2422,454,711

CONSOLIDATED INCOME STATEMENT AS AT 31-Dec-2017

 2017 US2016 US
Cash and hand19,792,980480,485,198
 Balance with the NBC77,981,98010,208,335
Balance with other banks and finance institutions97,968,00358,735,910
 Loans to customers412,657,46182,703,272
 Other assets5,362,102308,492,754
Property and equipment14,714,9414,789,271
Intangible assets2,327,10313,892,252
Deferred tax assets786,3331,066,079
TOTAL ASSETS631,590,717597,325

LIABILITIES AND EQUITY LIABILITIES

Liabilities2017 US2016 US
Deposits from customers432,379,372317,507,103
Deposits by other banks79,499,50174,933,739
Income tax payable2,700,823934,941
Other liabilities11,677,3679,344,003
 TOTAL LIABILITIES526,257,063402,719,786
EQUITY2017 US2016 US
Paid up capital80,000,00059,000,000
Other reserves 5,000,000
Retained earnings25,333,65413,765,412
Total Equity105,333,65413,765,412
 TOTAL LIABILITIES AND EQUITY631,590,717480,485,198

SIMPLIFIED FINANCIAL RESULT

PROFIT AFTER TAX(USD 000)

Note*Excluding USD 2.5 millions in remuneration expense. **Excluding USD 4.4 millions in extraordinary item expense.

PROFIT AFTER TAX(USD 000)

TOTAL ASSET (USD 000)

SHAREHOLDER’S EQUITY (USD 000)

LOAN OUTSTANDING (USD 000)

SHAREHOLDER’S EQUITY (USD 000)

PIPELINE OF TOTAL ASSETS AS OF DECEMBER 2017 1 US$
632 MILLION

  • PROPERTY & EQUIPMENT CAPITAL
  • OTHER CAPITAL
  • CASH AND BNAK BALANCE CAPITAL

TOTAL LIABILITIES AND EQUITY DEC-2017 SHAREHOLDER’S EQUITY YS$ 105 MILLION (PAID UP CAPITAL US$ 80 MILLION)

  • DEPOSIT FROM CUSTOMER CAPITAL
  • OTHER CAPITAL
  • PROPERTY & EQUIPMENT CAPITAL
  • CASH AND BNAK BALANCE

ANNUAL REPORTS