Financial Information

	2024 US$(IFRS)	2023 US$(IFRS)
Interest income	94,529,955	90,601,397
Interest expense	(37,476,160)	(35,961,221)
NET INTEREST INCOME	57,053,795	54,640,176
Fees and commission income	3,929,098	3,221,706
Fees and commission expense	(1,246,041)	(1,112,994)
NET FEE AND COMMISSION INCOME	2,683,057	2,108,712
Impairment losses on financial assets	(3,948,373)	(3,384,434)
Other (losses)/gains – net	913,231	494,590
Other operating income	81,197	60,773
NET OTHER OPERATING LOSS	(2,953,945)	(2,829,071)
Personnel expenses	(8,520,271)	(8,595,092)
Depreciation and amortization	(5,780,741)	(6,433,075)
Other operating expenses	(6,842,694)	(5,917,565)
PROFIT BEFORE INCOME TAX	35,639,201	32,974,085
Income tax expense	(7,483,115)	(6,629,627)
NET PROFIT OF THE YEAR	28,156,086	26,344,458

ASSETS	2024 US$ (IFRS)	2023 US$ (IFRS)
Cash and hand	32,372,841	30,474,497
Balance with the NBC	93,853,754	82,308,798
Balance with other banks and finance institutions	71,263,865	84,263,488
Loans to customers	946,442,394	836,931,821
Property and equipment	13,383,563	12,007,648
Intangible assets	2,681,378	3,427,090
Right-of-use assets	9,279,756	9,737,062
Deferred tax assets	–	–
Other assets	7,049,389	6,405,356
TOTAL ASSETS	1,176,326,940	1,065,555,760

EQUITY	2024 US$ (IFRS)	2023 US$ (IFRS)
Share capital	114,000,000	114,000,000
Regulatory reserves	60,436,852	43,787,058
Retained earnings	73,713,922	62,207,630
TOTAL EQUITY	248,150,774	219,994,688
TOTAL LIABILITIES AND EQUITY	1,176,326,940	1,065,555,760