Interim Financial Statements As of 30 September 2021

Balance Sheet
As of 30 September 2021-Unaudited

 30-Sep-21
US$
(Unaudited)

         CIFRS
31-Dec-20
 US$
 (Audited)

ASSETS
Cash on hand                    141,612,930                    112,449,694
Balances with the Central Bank                    316,072,842                    347,765,470
Due from banking & financial institutions                      21,265,367                      14,507,186
Loans and advances to customers- net                 1,761,253,452                 1,551,574,179
Other assets                      32,523,168                      20,517,283
Deferred tax assets                        5,318,760                        6,202,335
Goodwill                      17,380,030                      17,380,030
Software                        2,934,370                        3,009,642
Property and equipment                      23,597,469                      17,357,825
Right of Use Assets                                      -                         16,631,777
TOTAL ASSETS              2,321,958,388              2,107,395,421
LIABILITIE AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits from customers and other financial institutions                 1,483,863,113                 1,282,172,981
Subordinated debt                      83,950,000                      63,750,000
Borrowings                    341,660,082                    375,502,609
Current tax liabilities                        8,583,102                      10,222,127
Other liabilities                      45,738,628                      37,103,838
Employee pension liabilities                      19,696,333                      23,701,504
Lease liabilities                                     -                         15,393,794
Total Liabilities                 1,983,491,258                 1,807,846,853
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                      38,918,560                                     -  
Total Shareholders’ equity                    338,467,129                    299,548,568
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY              2,321,958,388              2,107,395,421

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

 

01-Jan
 to 30 September 2021
 US$
 (Unaudited)

 CIFRS
01-Jan
 to 31 December 2020
 US$
 (Audited)

Operating income

Interest income

                    163,759,060

                    203,086,588

Interest expense

                     (67,224,382)

                    (81,406,370)

Net interest income

                      96,534,678

                    121,680,218

Net fees and commissions

                        9,565,048

                        4,722,029

Other income

                        7,936,569

                        6,895,186

Total operating profit

                    114,036,295

                    133,297,433

Net FX Unrealized Gain/(Loss)

                          (520,582)

                                     -  

Allowance for bad and doubtful loans

                       (9,347,085)

                    (15,571,732)

Provision for Off Balance Sheet Expense

                             28,760

                                     -  

Provision for Cash in other Banks Expense

                            (10,222)

                                     -  

Other operating expenses

                     (54,999,449)

                    (63,814,487)

Profit before income tax

                      49,187,716

                      53,911,214

Income tax expense

                     (10,269,156)

                    (12,363,045)

Net profit for the period

                      38,918,560

                      41,548,169

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