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Consolidated Income Statement as at 31-Dec-2016

 2016 US$ 2015 US$
Net Profit for the year 2,454,711 3,394,801
Interest income 28,561,359 22,918,887 
Interest expense (14,630,417) (11,221,279)
Net interest income 13,930,942 11,697,608
Fees and commission income 4,146,494 3,639,418
Fees and commission expense (325,105) (57,952)
Net fee and commission income 3,821,389 3,581,466
Other income 306,790 88,609
Total net operating income 18,059,121 15,367,683
General and administrative expenses (13,155,044) (10,368,109)
Allowance for bad and doubtful Loans and advances (1,345,249) (584,085)
Profit before income tax 3,558,828 4,415,489
Income tax expense (1,104,117) (1,020,688)

Consolidate Balance Sheet as at 31-Dec-2016

Assets

2016 US$ 2015 US$
Total Assets 480,485,198 414,097,400
Cash and bank balances 29,524,517 62,487,036
Deposits and placements with banks and other financial institutions 76,915,000 68,138,750
Loans and advances-net 308,792,754 226,122,681
Other assets 4,196,834 3,946,291
Statutory deposits 45,208,000 38,406,000
Instangible assets 1,066,079 413,692
Property and equipment 14,484,689 14,582,950
Deferred tax assets 597,325  

Liabilities and Equity Liabilities

Liabilities 2016 US$ 2015 US$
Total Liabilities 402,719,786 358,866,818
Deposits from customers 317,507,103 276,040,143
Deposits by other banks 74,933,739 75,319,324
income tax payable 934,941 779,236
Other liabilities 9,344,003 6,728,115

Equity

Equity 2016 US$ 2015 US$
Total Liabilities and Equity 480,485,198 414,097,400
Paid-up capital 59,000,000 39,000,000
Other reserves 5,000,000  
Retained earnings 13,765,412 16,230,582
Total Equity 77,765,412 55,230,582

Simplified Financial Result

Updated 19 May 2016

  • PROFIT BEFORE TAX (USD'000)

    *Excluding USD 2.5M in remuneration

  • PROFIT AFTER TAX (USD'000)

    *Excluding USD 2.5M in remuneration

  • GROSS INCOME(USD'000)

  • SHAREHOLDERS'EQUITY(USD'000)

  • LOANS OUTSTANDING US$ 228 MILLION(USD'000)

  • DEPOSITS FROM CUSTOMERS US$ 351 MILLION(USD'000)

  • PIPELINE OF TOTAL ASSETS AS OF DECEMBER-2015| US$ 414 MILLION

  • TOTAL LIABILITIES AND EQUITY DEC-2015 SHAREHOLDERS'S EQUITY US$ 55 MILLION(PAID UP CAPITAL US$ 39 MILLION)

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