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 |
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.
USD 4.4 millions in extraordinary item expense.