Interim Financial Statements As of 30 June 2020

Balance Sheet
As of 30 June 2020-Unaudited

	30-Jun-20 US$ (Unaudited)	CIFRS 31-Dec-19 US$ (Audited)
ASSETS
Cash on hand	109,709,413	85,296,900
Balances with the Central Bank	263,121,194	213,118,865
Due from banking & financial institutions	14,311,966	15,818,539
Loans and advances to customers- net	1,404,181,435	1,293,005,023
Other assets	29,034,019	13,022,688
Deferred tax assets	6,070,491	6,467,838
Goodwill	17,380,030	17,380,030
Software	1,999,815	2,369,838
Property and equipment	15,571,639	14,787,841
Right of Use Assets	-	13,315,124
TOTAL ASSETS	1,861,380,001	1,674,582,686
LIABILITIE AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits from customers and other financial institutions	1,096,053,761	947,411,222
Subordinated debt	44,000,000	44,000,000
Borrowings	399,138,756	365,971,306
Current tax liabilities	5,297,375	8,896,377
Other liabilities	31,923,135	27,736,213
Employee pension liabilities	16,727,439	20,596,063
Lease liabilities	-	11,971,106
Total Liabilities	1,593,140,467	1,426,582,287
SHAREHOLDERS' EQUITY
Share capital	150,000,000	150,000,000
Regulatory reserve	12,570,464	12,570,464
Retained earnings	85,429,936	85,429,935
Profit for current year	20,239,134	-
Total Shareholders’ equity	268,239,534	248,000,399
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,861,380,001	1,674,582,686

Income Statement
For the period from 1 January 2020 to 30 June 2020-Unaudited

	01-Jan to 30 June 2020 US$ (Unaudited)	CIFRS 01-Jan to 31 December 2019 US$ (Audited)
Operating income
Interest income	92,575,830	166,965,257
Interest expense	(36,127,655)	(66,008,944)
Net interest income	56,448,176	100,956,313
Net fees and commissions	4,404,863	2,839,932
Other income	3,672,798	4,019,426
Total operating profit	64,525,837	107,815,671
Net FX Unrealized Gain/(Loss)	(752,564)	-
Allowance for bad and doubtful loans	(6,546,100)	(5,372,451)
Provision for Off Balance Sheet Expense	(111,477)	-
Provision for Cash in other Banks Expense	13,682	-
Other operating expenses	(31,672,574)	(56,610,901)
Profit before income tax	25,456,804	45,832,319
Income tax expense	(5,217,670)	(8,678,488)
Net profit for the period	20,239,134	37,153,831