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Financial Information

CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2019

2019 US$(IFRS)2018 US$(IFRS)
Interest income 59,845,94950,815,931
Interest expense(21,279,111)(18,387,417)
Net interest income38,566,83832,428,514
Fees and commission income2,877,9112,691,433
Fees and commission expense(703,989)(377,074)
Net fee and commission income2,173,9222,314,359
Other income180,195790,170
Total net operating income40,920,95535,533,043
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 tax21,430,65620,478,093
Income tax expense(4,647,590)(4,273,189)
NET PROFIT OF THE YEAR16,783,06616,204,904

CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2019

2019 US$(IFRS)2018 US$ (IFRS)
Cash and hand35,393,94633,081,402
Balance with the NBC176,936,634108,199,727
Balance with other banks and finance institutions36,800,64985,240,731
Loans to customers648,753,833542,156,382
Other assets4,287,7832,955,423
Property and equipment15,905,54515,401,837
Intangible assets8,451,3114,676,984
Deferred tax assets500,163322,609
Investment Securities3,178,194174,142
Right-of-use assets6,078,0356,514,868
TOTAL ASSETS936,286,093798,724,105

LIABILITIES AND EQUITY

LIABILITIES2019 US$2018 US$
Deposits from customers646,275,606596,972,443
Deposits by other banks64,182,65843,553,197
Income tax payable4,412,8403,697,966
Other liabilities3,634,3901,640,046
Borrowings52,198,0042,978,067
Subordinated Debts 20,037,12820,003,781
Lease Liabilities6,743,7416,843,788
Employee benefit obligations302,243318,400
TOTAL LIABILITIES 797,786,610676,007,688
EQUITY2019 US$2018 US$
Paid up capital80,000,00080,000,000
Other reserves8,252,8118,200,983
Retained earnings50,246,67234,515,434
Total Equity138,499,483122,716,417
TOTAL LIABILITIES AND EQUITY936,286,093798,724,105
PROFIT AFTER TAX(USD 000)
GROSS INCOME(USD 000)
Note*Excluding USD 2.5 millions in remuneration expense. **Excluding
USD 4.4 millions in extraordinary item expense.
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)