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Financial Information

CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2019

 

 

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

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