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Audited Financial Statements

Balance Sheet

	2015	2014
ASSETS
Cash on hand	93,063,883	243,504,917
Balances with other banks	6,555,065	3,044,400,973
Loans and advances to customers	8,819,688,912	4,907,631,110
Other assets	653,297,909	249,050,959
Property and equipment	188,713,620	338,881,722
Total assets	9,761,319,389	8,783,469,681

LIABILITIES
Due to other banks
Deposits from customers	310,814,793	137,414,564
Other liabilities	461,641,060	981,721,634
Provision for income tax	331,132,513	-
Total liabilities	1,103,588,366	1,119,136,198
EQUITIES
Capital – value per share K1,000 Authorised - 8,000,000 shares	8,000,000,000	8,000,000,000
Share capital	8,000,000,000	8,000,000,000
Retained earning	493,298,267	(335,666,517)
Reserves	164,432,756	-
Total shareholder's funds	8,657,731,023	7,664,333,483
Total liabilities & shareholder's funds	9,761,319,389	8,783,469,681

FINANCIAL INCOME	2015	2014
Interest incomes	2,459,757,164	467,092,749
Interest expenses	(28,811,028)	(5,253,146)
Net interest incomes	2,430,946,136	461,839,603
Provision for loan losses	(132,224,138)	(48,984,013)
Net interest income after provision for loan losses	2,298,721,998	412,855,590
Fee and commission incomes	133,908,449	14,552,665
Fee and commission expenses	-	-
Net fee and commission income	133,908,449	14,552,665
Other incomes	1,043,154,746	1,084,069,404
Personnel Costs	(1,518,613,100)	(1,382,660,809)
Administrative and operating expenses	(438,065,394)	(425,721,553)
Foreign exchange translation	(29,512,581)	719,639,248
Depreciation and amortisation	(165,064,065)	(128,296,268)
	(1,108,100,394)	(132,969,978)
Profit/(loss) before income tax	1,324,530,053	294,438,277
Income tax expense	(331,132,513)	-
Net profit/(loss) for the year	993,397,540	294,438,277

Note: These financial statements are audited by Win Thin & Associates.