Given below are the set of Financial Statements of the Company and the Group presented using USD denomination as at the reporting date based on the guidelines stated in LKAS 21 – “The effect of changes in foreign exchange rates”.
For the year ended 31 March | 2021
USD |
2020
USD |
Revenue | 84,114,923 | 87,860,465 |
Interest income | 75,282,067 | 79,125,762 |
Less: Interest expense | 36,851,022 | 45,533,504 |
Net interest income | 38,431,045 | 33,592,258 |
Fee and commission income | 2,055,632 | 2,530,088 |
Other operating income | 6,777,224 | 6,204,615 |
Total operating income | 47,263,901 | 42,326,961 |
Less : Impairment charges and other credit losses on financial assets | 7,193,098 | 7,857,155 |
Net operating income | 40,070,803 | 34,469,806 |
Less: Operating expenses | ||
Personnel expenses | 7,096,083 | 8,356,553 |
Premises, equipment and establishment expenses | 9,597,333 | 9,495,183 |
Other expenses | 2,686,393 | 2,798,457 |
Total operating expenses | 19,379,809 | 20,650,193 |
Operating profit before taxes on financial services | 20,690,994 | 13,819,613 |
Less: Taxes on financial services | 3,147,460 | 2,323,191 |
Profit before tax | 17,543,534 | 11,496,422 |
Less : Income tax expense | 4,604,792 | 2,200,552 |
Profit for the year | 12,938,742 | 9,295,870 |
Other comprehensive income | ||
Items that will not be reclassified to profit or loss | ||
Change in deferred tax on revaluation | 162,367 | – |
Equity investments at FVOCI – net change in fair value | 344,682 | (196,918) |
Net actuarial gain/(loss) on defined benefit plan | (378,535) | 314,042 |
Total other comprehensive income | 128,514 | 117,124 |
Total comprehensive income for the year | 13,067,256 | 9,412,994 |
Earnings per share | ||
Basic/Diluted earnings per share | 0.19 | 0.13 |
Figures in brackets indicate deductions.
* Comparative information for the year ended 31 March 2020 have been restated to reflect the effect of amalgamation.
For the year ended 31 March | 2021
USD |
2020
USD |
Assets | ||
Cash and cash equivalents | 10,578,428 | 7,043,412 |
Financial assets measured at fair value through profit or loss (FVTPL) | 812,868 | 285,609 |
Derivative financial assets | 1,002,156 | – |
Loans and receivables to banks | 15,012,200 | 18,679,152 |
Deposits with financial institutions | 15,197,222 | 22,201,518 |
Loans and receivables to customers | 379,811,411 | 366,475,190 |
Other investment securities | 13,510,571 | 11,953,213 |
Investment property | 102,206 | 102,206 |
Property, plant and equipment | 15,637,780 | 14,930,442 |
Intangible assets | 589,394 | 469,775 |
Goodwill on amalgamation | 1,235,604 | 1,235,604 |
Right-of-Use Assets | 4,032,998 | 4,254,974 |
Other assets | 19,812,296 | 23,956,543 |
Total assets | 477,335,134 | 471,587,638 |
Liabilities | ||
Derivative financial liabilities | 66,501 | 305,839 |
Deposits from customers | 247,947,278 | 219,136,601 |
Debt securities issued | 25,755,688 | 25,767,109 |
Other interest-bearing borrowings | 109,907,833 | 139,181,945 |
Lease liabilities | 4,102,226 | 4,070,388 |
Current tax liabilities | 6,178,484 | 8,112,266 |
Deferred tax liabilities | 1,904,969 | 3,083,043 |
Retirement benefit obligation | 46,038 | 146,397 |
Other liabilities | 10,318,841 | 13,306,366 |
Total liabilities | 406,227,858 | 413,109,954 |
Equity | ||
Stated capital | 11,893,346 | 11,893,346 |
Reserves | 12,628,180 | 11,645,162 |
Retained earnings | 46,585,750 | 34,939,176 |
Total equity | 71,107,276 | 58,477,684 |
Total liabilities and equity | 477,335,134 | 471,587,638 |
Net assets value per share | 1.02 | 0.84 |
Contingencies and commitments | 13,686,788 | 2,546,923 |
* Comparative information as at 31 March 2020 have been restated to reflect the effect of amalgamation.