Interim Financial Statements As of 31 March 2020

Balance Sheet
As of 31 March 2020-Unaudited

 

31-Mar-20

US$

(Unaudited)

31-Dec-19

US$

(Audited)

ASSETS
Cash on hand                             92,278,315                  85,296,900
Balances with the Central Bank                           204,538,025                213,118,865
Due from banking & financial institutions                               6,946,367                  15,818,539
Loans and advances to customers- net                        1,374,084,379             1,293,005,023
Other assets                             28,774,244                  13,022,688
Deferred tax assets                               6,070,491                    6,467,838
Goodwill                             17,380,030                  17,380,030
Software                               1,834,022                    2,369,838
Property and equipment                             15,121,898                  14,787,841
Right of Use Assets                                             -                     13,315,124
TOTAL ASSETS                     1,747,027,772          1,674,582,686
LIABILITIE AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits from customers and other financial institutions                        1,003,928,451                947,411,222
Subordinated debt                             44,000,000                  44,000,000
Borrowings                           393,232,273                365,971,306
Current tax liabilities                               3,117,311                    8,896,377
Other liabilities                             27,265,529                  27,736,213
Employee pension liabilities                             16,157,449                  20,596,063
Lease liabilities                                            -                     11,971,106
Total Liabilities                        1,487,701,014             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                             11,326,358                                -  
Total Shareholders’ equity                           259,326,758                248,000,399
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                     1,747,027,772          1,674,582,686

Income Statement
For the period from 1 January 2020 to 31 March 2020-Unaudited

 

01-Jan
 to 31 March 2020
 US$
 (Unaudited)

01-Jan
 to 31 December 2019
 US$
 (Audited)

Operating income
Interest income                             45,694,351                166,965,257
Interest expense                            (17,694,836)                (66,008,944)
Net interest income                             27,999,515                100,956,313
Net fees and commissions                               2,820,654                    2,839,932
Other income                               1,933,280                    4,019,426
Total operating profit                             32,753,449                107,815,671
Net FX Unrealized Gain/(Loss)                                 (487,288)                                -  
Allowance for bad and doubtful loans                              (2,404,327)                  (5,372,451)
Provision for Off Balance Sheet Expense                                   (23,095)                                -  
Provision for Cash in other Banks Expense                                    88,082                                -  
Other operating expenses                            (15,354,236)                (56,610,901)
Profit before income tax                             14,572,585                  45,832,319
Income tax expense                              (3,246,227)                  (8,678,488)
Net profit for the period                             11,326,358                  37,153,831

 

Makes Your Life Better