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Income Statement For The Year ended 31 December 2015

2015 US$ 2014 US$
Net Profit for the year 3,394,801 4,743,253
Interest income 22,918,887 16,934,925
Interest expense (11,221,279) (7,146,629)
Net interest income 11,697,608 9,788,296
Fees and commission income 3,639,418 2,702,160
Fees and commission expense (57,952) (18,032)
Net fee and commission income 3,581,466 2,684,128
Other income 88,609 126,069
Total net operating income 15,367,683 12,598,493
General and administrative expenses (10,368,109) (6,151,976)
Allowance for bad and doubtful Loans and advances (584,085) (444,856)
Profit before income tax 4,415,489 6,001,661
Income tax expense (1,020,688) (1,258,408)

BALANCE SHEET AS AT 31 DECEMBER 2015

ASSETS 2015 US$ 2014 US$
TOTAL ASSETS 414,097,400 297,601,089
Cash and bank balances 62,487,036 38,570,127
Deposits and placements with banks and other financial institutions 68,138,750 53,290,000
Loans and advances-net 226,122,681 168,648,167
Other assets 3,946,291 2,622,095
Statutory deposits 38,406,000 23,821,000
Instangible assets 413,692 570,410
Property and equipment 14,582,950 10,079,290

LIABILITIES and Equity liabilities

Liabilities 2015 US$ 2014 US$
TOTAL LIABILITIES 358,866,818 245,765,308
Deposits from customers 276,040,143 164,261,608
Deposits by other banks 75,319,324 76,119,310
income tax payable 779,236 1,064,488
Other liabilities 6,728,115 4,319,902

SHAREHOLDERS'EQUITY

Shareholder's Equity 2015 US$ 2014 US$
TOTAL LIABILITIES AND SHAREHOLDERS'EQUITY 414,097,400 297,601,089
Paid-up capital 39,000,000 39,000,000
Retained earnings 16,230,582 12,835,781
TOTAL SHAREHOLDERS'EQUITY 55,230,582 51,835,781

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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