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Audited Financial Statements

Balance Sheet

	2017	2016
ASSETS
Cash on hand	314,891,012	107,218,950
Balances with other banks	2,057,361,344	14,776,761
Loans and advances to customers	20,975,180,424	9,985,459,952
Other assets	1,177,306,818	801,022,122
Property and equipment	29,489,015	41,831,515
Total assets	24,554,228,613	10,950,309,300

LIABILITIES
Due to other banks	-	-
Deposits from customers	1,020,426,851	440,882,391
Other liabilities	306,635,004	493,265,877
Borrowings	11,197,500,000	-
Provision for income tax	596,601,529	343,513,643
Total liabilities	13,121,163,384	1,277,661,911
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	2,574,798,921	1,254,485,541
Reserves	858,266,308	418,161,848
Total shareholder's funds	11,433,065,229	9,672,647,389
Total liabilities & shareholder's funds	24,554,228,613	10,950,309,300

FINANCIAL INCOME	2017	2016
Interest incomes	4,644,605,736	3,001,915,883
Interest expenses	(846,764,242)	(54,879,680)
Net interest incomes	3,797,841,494	2,947,036,203
Provision for loan losses	(8,781,379)	(23,959,212)
Net interest income after provision for loan losses	3,789,060,115	2,923,076,991
Fee and commission incomes	292,751,628	196,229,244
Fee and commission expenses	(84,405,001)	(121,600,000)
Net fee and commission income	208,346,627	74,629,244
Other incomes	509,676,396	629,204,503
Personnel Costs	(1,531,791,813)	(1,573,990,799)
Administrative and operating expenses	(531,196,338)	(432,847,542)
Foreign exchange translation	(14,946,620)	(93,846,446)
Depreciation and amortisation	(42,742,259)	(152,171,380)
	(1,611,000,634)	(1,623,651,664)
Profit/(loss) before income tax	2,386,406,108	1,374,054,571
Income tax expense	(625,988,268)	(359,138,205)
Net profit/(loss) for the year	1,760,417,840	1,014,916,366

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