CONSOLIDATED INCOME STATEMENT AS AT 31-Dec-2017
Financial Information
| 2017 US$ | 2017 US$ | |
| Interest income | 37,565,674 | 28,561,359 |
| Interest expense | (17,311,957) | (14,630,417) |
| Net interest income | 20,253,717 | 13,930,942 |
| Fees and commission income | 6,327,053 | 4,146,494 |
| Fees and commission expense | (224,542) | (325,105) |
| Net fee and commission income | 6,102,511 | 3,821,389 |
| Other income | 385,993 | 306,790 |
| Total net operating income | 26,742,221 | 18,059,121 |
| 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 tax | 14,452,729 | 3,558,828 |
| Income tax expense | (2,884,487) | (1,104,117) |
| NET PROFIT OF THE YEAR | 11,568,242 | 2,454,711 |
CONSOLIDATED INCOME STATEMENT AS AT 31-Dec-2017
| 2017 US | 2016 US | |
| Cash and hand | 19,792,980 | 480,485,198 |
| Balance with the NBC | 77,981,980 | 10,208,335 |
| Balance with other banks and finance institutions | 97,968,003 | 58,735,910 |
| Loans to customers | 412,657,461 | 82,703,272 |
| Other assets | 5,362,102 | 308,492,754 |
| Property and equipment | 14,714,941 | 4,789,271 |
| Intangible assets | 2,327,103 | 13,892,252 |
| Deferred tax assets | 786,333 | 1,066,079 |
| TOTAL ASSETS | 631,590,717 | 597,325 |
LIABILITIES AND EQUITY LIABILITIES
| Liabilities | 2017 US | 2016 US |
| Deposits from customers | 432,379,372 | 317,507,103 |
| Deposits by other banks | 79,499,501 | 74,933,739 |
| Income tax payable | 2,700,823 | 934,941 |
| Other liabilities | 11,677,367 | 9,344,003 |
| TOTAL LIABILITIES | 526,257,063 | 402,719,786 |
| EQUITY | 2017 US | 2016 US |
| Paid up capital | 80,000,000 | 59,000,000 |
| Other reserves | 5,000,000 | |
| Retained earnings | 25,333,654 | 13,765,412 |
| Total Equity | 105,333,654 | 13,765,412 |
| TOTAL LIABILITIES AND EQUITY | 631,590,717 | 480,485,198 |
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
