CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2019
Financial Information
2019 US$ (IFRS) | 2018 US$ (IFRS) | |
| Interest income | 59,845,949 | 50,815,931 |
| Interest expense | (21,279,111) | (18,387,417) |
| Net interest income | 38,566,838 | 32,428,514 |
| Fees and commission income | 2,877,911 | 2,691,433 |
| Fees and commission expense | (703,989) | (377,074) |
| Net fee and commission income | 2,173,922 | 2,314,359 |
| Other income | 180,195 | 790,170 |
| Total net operating income | 40,920,955 | 35,533,043 |
| General and administrative expense | (18,804,360) | (15,168,024) |
| Allowance for bad and doubtful Loans and advances | (685,939) | 113,074 |
| Profit before income tax | 21,430,656 | 20,478,093 |
| Income tax expense | (4,647,590) | (4,273,189) |
| NET PROFIT OF THE YEAR | 16,783,066 | 16,204,904 |
CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2019
2019 US$ (IFRS) | 2018 US$ (IFRS) | |
| Cash and hand | 35,393,946 | 33,081,402 |
| Balance with the NBC | 176,936,634 | 108,199,727 |
| Balance with other banks and finance institutions | 36,800,649 | 85,240,731 |
| Loans to customers | 648,753,833 | 542,156,382 |
| Other assets | 4,287,783 | 2,955,423 |
| Property and equipment | 15,905,545 | 15,401,837 |
| Intangible assets | 8,451,311 | 4,676,984 |
| Deferred tax assets | 500,163 | 322,609 |
| Investment Securities | 3,178,194 | 174,142 |
| Right-of-use assets | 6,078,035 | 6,514,868 |
| TOTAL ASSETS | 936,286,093 | 798,724,105 |
LIABILITIES AND EQUITY
| Liabilities | 2019 US$ | 2018 US$ |
| Deposits from customers | 646,275,606 | 596,972,443 |
| Deposits by other banks | 64,182,658 | 43,553,197 |
| Income tax payable | 4,412,840 | 3,697,966 |
| Other liabilities | 3,634,390 | 1,640,046 |
| Borrowings | 52,198,004 | 2,978,067 |
| Subordinated Debts | 20,037,128 | 20,003,781 |
| Lease Liabilities | 6,743,741 | 6,843,788 |
| Employee benefit obligations | 302,243 | 318,400 |
| TOTAL LIABILITIES | 797,786,610 | 676,007,688 |
| EQUITY | 2019 US$ | 2018 US$ |
| Paid up capital | 80,000,000 | 80,000,000 |
| Other reserves | 8,252,811 | 8,200,983 |
| Retained earnings | 50,246,672 | 34,515,434 |
| Total Equity | 138,499,483 | 122,716,417 |
| TOTAL LIABILITIES AND EQUITY | 936,286,093 | 798,724,105 |
FINANCIAL SUMMARY
PROFIT AFTER TAX(USD 000)
Note*Excluding USD 2.5 millions in remuneration expense. **Excluding USD 4.4 millions in extraordinary item expense.
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-2019 | US$ 936 MILLION (C-IFRS)
TOTAL LIABILITIES AND EQUITY DEC-2019 (SHAREHOLDERS’S EQUITY US$ 138 MILLION | PAID UP CAPITAL US$ 80 MILLION)
(C-IFRS)
ANNUAL REPORTS
