Financial Information

	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

TOTAL ASSETS	936,286,093	798,724,105
	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

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