Statement of Financial Position

"Comparative Statement of Financial Position, as of December 31st of each year, for the last three years and budget for 2020 is presented below."

 

 Assets

2019

2018

2017

2020

Cash

     $.1,863,598

   $.13,526,692

    $.13,106,975

        $. 13,955,299

Current accounts with BCTL

9,899,066

19,372,003

28,429,041

      10,888,972

Current accounts with Other Banks

52,900,767

39,389,620

21,444,285

      62,856,233

Time Deposit over 90 Days

10,000,000

5,000,000

 

 

Loans Receivables (net of Allowance for impairment)

87,343,905

79,453,293

96,437,411

     96,494,727

Other Receivables

1,127,568

804,808

1,651,025

        3,427,667

Property and Equipment (net of accumulated depreciation)

1,331,622

1,724,165

2,014,783

        3,533,230

Intangible assets (net of amortizations)

2,405,279

2,750,846

2,820,173

             3,447,703

Other Assets

2,609,351

1,240,953

674,436

       2,987,775

Total Assets

 $.179,481,156

 $.163,262,380

 $.166,578,129

  $. 197,591,606

 

Liabilities and Equity

     

 

Deposits from Customers

124,537,268

120,132,304

114,202,137

    139,949,413

Taxes Payable

338,293

289,437

475,065

          290,267

Other Liabilities

9,462,192

5,118,131

14,375,350

         8,105,156

Lease Liabilities

147,201

   

 

Total Liabilities

134,484,954

125,539,872

129,052,552

    148,344,836

Share Capital

30,020,160

25,020,160

25,020,160

      31,521,168

Reserve for Credit Losses

1,765,620

1,631,689

1,991,776

        2,009,631

Capital Reserve

2,476,706

2,476,706

1,579,770

         2,600,541

Retained Earnings

10,733,717

8,593,954

8,933,871

      13,115,430

Total Equity

44,996,202

37,722,508

37,525,577

     49,246,770

Total Liabilities and Equity

$179,481,156

   $163,262,380

 $166,578,129

   $197,591,606

  

Statement of Profit and Loss

"Comparative Statement of Profit and Loss for the last three years and 2020 Budget."

 

 Operating Income

2019

2018

2017

2020

Net interest income

$     10,286,537

$       9,929,309

$    9,469,038

     13,094,956

Net fees and commission income

        2,507,573

        2,108,223

      1,527,191

       1,976,471

Other Income

          135,204

            300,693

      2,613,406

                     -  

Total Operating Income

      12,929,314

      12,338,225

    13,609,635

     15,071,427

Operating Expense

     

 

Impairment of financial assets

        1,226,886

        2,372,438

      1,919,888

       1,250,909

Personnel expense

        4,112,895

        4,006,202

      3,258,088

       4,916,600

General and administrative expense

        3,473,428

        2,955,531

      2,778,744

       2,720,607

Other Expense

        1,745,865

            887,386

      1,033,403

       2,666,430

Total Operating Expense

      10,559,074

      10,221,557

      8,990,123

     11,554,546

Profit Before Income Tax

       2,370,240

      2,116,668

     4,619,512

      3,516,881

Tax Expense

          (56,071)

        (207,248)

       (472,669)

      (284,498)

Profit for The Year

        2,314,169

        1,909,420

      4,146,843

       3,232,383

Other comprehensive gain (loss)
- Actuarial

         (174,406)

          (44,187)

          47,718

                     -  

Comprehensive Income for The Year

 $    2,139,763

$     1,865,233

$   4,194,561

$    3,232,383

 

Financial Projections

"Statement of Financial Position projection for 2021 and 2022."

 

 Assets

2021

2022

Cash & Cash equivalents

     194,152,688

   245,965,030

Loan Receivables

     185,777,653

   247,121,603

other Assets

       10,271,684

     12,538,857

Total Assets

     390,202,025

   505,625,490

Liabilities and Equity

   

Deposits from Customers

     273,852,824

   358,677,878

Other Liabilities

          4,322,782

        4,322,783

Total Liabilities

     278,175,606

   363,000,661

Share Capital

       83,522,176

     97,522,176

Reserve for Credit Losses

          3,789,980

        5,024,936

Retained Earnings

       24,714,263

     40,077,717

Total Equity

     112,026,419

   142,624,829

Total Liabilities and Equity

     390,202,025

   505,625,490

"Statement of Profit and Loss projection for 2021 and 2022"

 

 Operating Income

2021

2022

Net interest income

    24,241,695

    32,610,265

Net fees and commission income

       1,717,438

       1,726,512

Other Income

   

Total Operating Income

    25,959,133

    34,336,777

Operating Expense

   

Impairment of financial assets

       2,438,828

       2,560,770

Personnel expense

       4,838,632

       5,564,427

General and administrative expense

       6,104,621

       6,531,925

Other Expense

       1,400,102

       1,605,002

Total Operating Expense

    14,782,183

    16,262,124

Profit Before Income Tax

    11,176,950

    18,074,653

Tax Expense

     (1,676,542)

     (2,711,198)

Profit for The Year

      9,500,408

    15,363,455