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Financial Information

CONSOLIDATED INCOME STATEMENT AS OF 31-DEC-2023

2023 US$(IFRS)2022 US$(IFRS)
Interest income90,601,39775,758,255
Interest expense(35,961,221)(25,170,036)
NET INTEREST INCOME54,640,17650,588,219
Fees and commission income3,221,7062,194,840
Fees and commission expense(1,112,994)(911,029)
NET FEE AND COMMISSION INCOME2,108,7121,283,811
Impairment losses on financial assets(3,384,434)(1,577,271)
Other (losses)/gains – net494,590(150,353)
Other operating income60,773402,679
NET OTHER OPERATING LOSS(2,829,071)(1,324,945)
Personnel expenses(8,595,092)(7,797,024)
Depreciation and amortization(6,433,075)(6,773,412)
Other operating expenses(5,917,565)(6,781,263)
PROFIT BEFORE INCOME TAX32,974,08529,195,386
Income tax expense(6,629,627)(5,885,012)
NET PROFIT OF THE YEAR26,344,45823,310,374

CONSOLIDATED BALANCE SHEET AS OF 31-DEC-2023

ASSETS2023 US$(IFRS)2022 US$ (IFRS)
Cash and hand30,474,49729,268,408
Balance with the NBC82,308,79883,264,682
Balance with other banks and finance institutions84,263,48862,108,803
Loans to customers836,931,821773,248,063
Property and equipment12,007,64812,778,872
Intangible assets3,427,0905,097,152
Right-of-use assets9,737,0629,889,518
Deferred tax assets
Other assets6,405,3566,498,882
TOTAL ASSETS1,065,555,760982,154,380

LIABILITIES AND EQUITY

LIABILITIES2023 US$(IFRS)2022 US$(IFRS)
Deposits from customers 593,442,725549,350,759
Deposits from other banks196,271,611173,064,254
Other liabilities55,846,73664,089,137
TOTAL LIABILITIES845,561,072786,504,150
EQUITY2023 US$(IFRS)2022 US$(IFRS)
Share capital114,000,000114,000,000
Regulatory reserves43,787,05836,047,781
Retained earnings62,207,63045,602,449
TOTAL EQUITY219,994,688195,650,230
TOTAL LIABILITIES AND EQUITY1,065,555,760982,154,380
PROFIT AFTER TAX(USD 000)
GROSS INCOME(USD 000)
TOTAL ASSET (USD 000)
SHAREHOLDER’S EQUITY (USD 000)
LOAN OUTSTANDING (USD 000)
TOTAL DEPOSITS (USD 000)
PIPELINE OF TOTAL ASSETS AS OF DECEMBER-2022| US$ 982 MILLION (C-IFRS)
TOTAL LIABILITIES AND EQUITY DEC-2022 (SHAREHOLDERS EQUITY US$ 196 MILLION / PAID UP CAPITAL US$ 114 MILLION) (C-IFRS)