Interim Financial Statements As of 31 March 2021

Balance Sheet
As of 31 March 2022-Unaudited

 

31-Mar-22
 US$
 (Unaudited)

31-Dec-21
 US$
 (Audited)

ASSETS

Cash on hand

                              184,961,990

                              139,045,463

Balances with the Central Bank

                              318,699,894

                              257,065,592

Due from banking & financial institutions

                                 22,048,054

                                31,056,827

Loans and advances to customers- net

                           1,962,017,447

                          1,904,380,994

Total Provision for Cash in other Banks

                                    (220,481)

                                                  -  

Other investment

                                                  -  

                                         93,750

Other assets

                                 36,240,890

                                17,712,292

Deferred tax assets

                                   6,326,653

                                   5,246,773

Goodwill

                                 17,380,030

                                17,380,030

Software

                                   4,831,989

                                   4,112,183

Property and equipment

                                 21,907,731

                                22,181,814

Right of Use Assets 

                                                  -  

                                42,865,536

TOTAL ASSETS

                 2,574,194,198

                 2,441,141,254

LIABILITIE AND SHAREHOLDERS' EQUITY

LIABILITIES

Deposits from customers and other financial institutions

                           1,676,750,386

                          1,477,823,493

Subordinated debt

                              112,950,000

                              112,950,000

Borrowings

                              344,347,477

                              371,525,711

Current tax liabilities

                                   2,915,989

                                11,082,466

Other liabilities

                                 39,421,990

                                45,776,681

Employee pension liabilities

                                 20,809,744

                                26,158,562

Total Provision for Off Balance Sheet

                                   1,023,314

                                                  -  

Lease liabilities

                                                  -  

                                41,723,412

Total Liabilities

                           2,198,218,900

                          2,087,040,325

SHAREHOLDERS' EQUITY

Share capital

                              250,000,000

                              193,000,000

Regulatory reserve

                                 23,808,366

                                23,808,366

Retained earnings

                                 90,292,564

                              137,292,563

Profit for current year

                                 11,874,367

                                                  -  

Total Shareholders’ equity

                              375,975,298

                              354,100,929

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

                 2,574,194,198

                 2,441,141,254

 

Income Statement
For the period from 1 January 2022 to 31 March 2022-Unaudited

 

01-Jan
 to 31 March 2022
 US$
 (Unaudited)

01-Jan
 to 31 December 2021
 US$
 (Audited)

Operating income
Interest income                                 60,753,452                              233,265,539
Interest expense                              (24,720,458)                              (98,103,816)
Net interest income                                 36,032,995                              135,161,723
Net fees and commissions                                   3,495,647                                   6,552,153
Other income                                   2,939,851                                   8,797,496
Total operating profit                                 42,468,492                              150,511,372
Net FX Unrealized Gain/(Loss)                                       204,282                                                  -  
Allowance for bad and doubtful loans                                 (9,164,416)                                (8,715,365)
Provision for Off Balance Sheet Expense                                       (86,843)                                                  -  
Provision for Cash in other Banks Expense                                         91,159                                                  -  
Other operating expenses                              (18,339,048)                              (72,869,833)
Profit before income tax                                 15,173,627                                68,926,174
Income tax expense                                 (3,299,260)                              (14,373,813)
Net profit for the period                                 11,874,367                                54,552,361