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Audited Financial Statements

Balance Sheet

	2016	2015
ASSETS
Cash on hand	107,218,950	93,063,883
Balances with other banks	14,776,761	6,555,065
Loans and advances to customers	9,985,459,952	8,819,688,912
Other assets	801,022,122	653,297,909
Property and equipment	41,831,515	188,713,620
Total assets	10,950,309,300	9,761,319,389

LIABILITIES
Due to other banks
Deposits from customers	440,882,391	310,814,793
Other liabilities	493,265,877	461,641,060
Provision for income tax	343,513,643	331,132,513
Total liabilities	1,277,661,911	1,103,588,366
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	1,254,485,541	493,298,267
Reserves	418,161,848	164,432,756
Total shareholder's funds	9,672,647,389	8,657,731,023
Total liabilities & shareholder's funds	10,950,309,300	9,761,319,389

FINANCIAL INCOME	2016	2015
Interest incomes	3,001,915,883	2,459,757,164
Interest expenses	(54,879,680)	(28,811,028)
Net interest incomes	2,947,036,203	2,430,946,136
Provision for loan losses	(23,959,212)	(132,224,138)
Net interest income after provision for loan losses	2,923,076,991	2,298,721,998
Fee and commission incomes	196,229,244	133,908,449
Fee and commission expenses	(121,600,000)	-
Net fee and commission income	74,629,244	133,908,449
Other incomes	629,204,503	1,043,154,746
Personnel Costs	(1,573,990,799)	(1,518,613,100)
Administrative and operating expenses	(432,847,542)	(438,065,394)
Foreign exchange translation	(93,846,446)	(29,512,581)
Depreciation and amortisation	(152,171,380)	(165,064,065)
	(1,623,651,664)	(1,108,100,394)
Profit/(loss) before income tax	1,374,054,571	1,324,530,053
Income tax expense	(359,138,205)	(331,132,513)
Net profit/(loss) for the year	1,014,916,366	993,397,540

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