Interim Financial Statements As of 30 September 2019

Balance Sheet
As of 30 September 2019-Unaudited

 

30-Sep-19

US$

(Unaudited)

31-Dec-18

US$

(Audited)

ASSETS
Cash on hand                       88,107,411                      67,916,384
Balances with the Central Bank                     205,774,344                    168,970,016
Due from banking & financial institutions                       16,998,783                        7,792,978
Loans and advances to customers- net                  1,215,882,672                 1,007,139,509
Other assets                       24,019,905                      18,821,989
Deferred tax assets                         4,903,785                        4,903,785
Goodwill                       17,380,030                      17,380,030
Software                         1,386,212                        1,463,686
Property and equipment                       11,676,333                      10,238,649
Right of Use Assets                                                     -                                       -  
TOTAL ASSETS               1,586,129,474              1,304,627,026
LIABILITIE AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits from customers and other financial institutions                     933,976,862                    804,699,381
Subordinated debt                       41,000,000                      30,000,000
Borrowings                     331,730,164                    253,817,389
Current tax liabilities                         6,691,643                        5,705,331
Other liabilities                       23,508,454                      20,207,444
Employee pension liabilities                       14,744,225                      12,923,876
Lease liabilities                                      -                                       -  
Total Liabilities                  1,351,651,347                 1,127,353,421
SHAREHOLDERS' EQUITY
Share capital                     150,000,000                    120,000,000
Regulatory reserve                                      -                                       -  
Retained earnings                       57,273,605                      34,179,408
Profit for current year                       27,204,522                      23,094,198
Total Shareholders’ equity                     234,478,127                    177,273,605
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY               1,586,129,474              1,304,627,026

Income Statement
For the period from 1 January 2019 to 30 September 2019-Unaudited

 

01-Jan

to 30 September 2019
 US$
 (Unaudited)

01-Jan
 to 31 December 2018
 US$
 (Audited)

Operating income
Interest income                     116,564,039                    130,966,956
Interest expense                      (45,077,835)                    (51,616,010)
Net interest income                       71,486,204                      79,350,947
Net fees and commissions                         6,501,271                        6,719,521
Other income                         3,514,668                        1,452,245
Total operating profit                       81,502,143                      87,522,713
Net FX Unrealized Gain/(Loss)                                      -                                       -  
Allowance for bad and doubtful loans                        (3,761,025)                      (7,149,332)
Provision for Off Balance Sheet Expense                           (200,455)                         (398,649)
Provision for Cash in other Banks Expense                             (93,271)                           (78,433)
Other operating expenses                      (42,646,654)                    (51,662,897)
Profit before income tax                       34,800,738                      28,233,401
Income tax expense                        (7,596,216)                      (5,139,203)
Net profit for the period                       27,204,522                      23,094,198

 

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