Interim Financial Statements As of 30 June 2021

Balance Sheet
As of 30 June 2021-Unaudited

 

30-Jun-21

US$

(Unaudited)

31-Dec-20

US$

(Audited)

ASSETS
Cash on hand                    134,447,676                    112,449,694
Balances with the Central Bank                    348,623,340                    347,765,470
Due from banking & financial institutions                      26,203,471                      14,507,186
Loans and advances to customers- net                 1,673,847,766                 1,551,574,179
Other assets                      30,547,620                      20,517,283
Deferred tax assets                        5,318,760                        6,202,335
Goodwill                      17,380,030                      17,380,030
Software                        2,791,126                        3,009,642
Property and equipment                      22,579,163                      17,357,825
Right of Use Assets                        16,631,777
TOTAL ASSETS              2,261,738,952              2,107,395,421
       
LIABILITIE AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits from customers and other financial institutions                 1,412,051,242                 1,282,172,981
Subordinated debt                      85,750,000                      63,750,000
Borrowings                    366,209,464                    375,502,609
Current tax liabilities                        5,480,773                      10,222,127
Other liabilities                      48,817,416                      37,103,838
Employee pension liabilities                      19,212,449                      23,701,504
Lease liabilities                       15,393,794
Total Liabilities                 1,937,521,345                 1,807,846,853
SHAREHOLDERS' EQUITY
Share capital                    193,000,000                    193,000,000
Regulatory reserve                      11,936,141                      11,936,141
Retained earnings                      94,612,428                      94,612,427
Profit for current year                      24,669,038                                     -  
Total Shareholders’ equity                    324,217,607                    299,548,568
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY              2,261,738,952              2,107,395,421

Income Statement
For the period from 1 January 2021 to 30 June 2021-Unaudited

 

01-Jan

 to 30 June 2021
 US$
 (Unaudited)

01-Jan

 to 31 December 2020
 US$
 (Audited)

Operating income
Interest income                    107,342,516                    203,086,588
Interest expense                     (43,671,125)                    (81,406,370)
Net interest income                      63,671,391                    121,680,218
Net fees and commissions                        6,360,431                        4,722,029
Other income                        5,035,997                        6,895,186
Total operating profit                      75,067,819                    133,297,433
Net FX Unrealized Gain/(Loss)                          (454,275)                                     -  
Allowance for bad and doubtful loans                       (6,975,010)                    (15,571,732)
Provision for Off Balance Sheet Expense                             81,826                                     -  
Provision for Cash in other Banks Expense                          (119,534)                                     -  
Other operating expenses                     (36,412,880)                    (63,814,487)
Profit before income tax                      31,187,947                      53,911,214
Income tax expense                       (6,518,909)                    (12,363,045)
Net profit for the period                      24,669,038                      41,548,169

Makes Your Life Better