H grr.regoft 6anKURWEGO BANK PLC (FORMERLY URWEGO BANK LIMITED)

STATEMENT OF PROFIT OR LOSSFOR THE PERTOD ENDED 3't MARCH 2019 (REVTEWED BY EXTERNAL AUDITORS)

Notes

lnterest and similar income

lnterest and similar expenses

Net interest income

Fee and commissions incorne

Fee and commissions expense

Net fee and commission income

Net foreign exchange income

Premium incomeGain on sale of fixed assets

Other operating lncome

Total operating income

lmpairment loss on flnancial assets

Operating income after impairnient losses

Personnel expense

Depreciation of property, plant and equiprnent

Depreciation from right of use assets

Amortization of intangible assets

Other operating expenses

Total operating expenses

Loss before income tax

lncome tax credit/(expense)

Net loss for the period

31 MARCH

2018

Frw'000

761,474

l22A4A

639,024

242,807

05CI1$)

227,191

36,405

3,268

'145,945

1,051,833

(w.22U

954S05

(573,914)

(65,256)

(19,017)

g€5,71!)

fi-143j3A

(1 89,322)

7

13

14

15

8

31 MARCH

2419

Frw'000

781,110

1144310)

636,270

183,125

(28,263)

154,862

33,290

3,262

15,799

155J80998,863

182-845)

e1s.01g

(584,842)

(56,770)

(88,708)

(16,246)

G_33,3gel

fl-079.9051

(163,947)

(163,947) fi89.322\

Urwego Bank Ptc Umuyenzi Piaza 3rd Floor, KG 5 RD, P.O. Box 748, l(igali-Rwanda

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H prnuegoft tranKURWEGO BANK PLC (FORMERLY URWEGO BANK TIMITED)

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2019 (REVTEWED BY EXTERNAT AUDITORS)

ASSETS

Cash in handDue from the National Bank of Rwanda

Due from other Banking lnstitutions

Loans and advances to customersFinancral lnvestmentsOther assetsCurrent income taxProperty , Plant and equipment

lntangible assets

Right of Use Assets

Total assets

LIABILITIES

Deposits from CustomersOther payables

Borrowed Funds

Total Liabilities

EQUITY

Share capitalShare premium

Accumulated losses

Total Shareholders' equity

Total Equity and Liabilities

The statement of financial position and statement of profit or loss were approved by the Board of Directors on 30th May 2019

Chairpeisorr of thl Board of Audit Committee

31 DECEMBER2018

Frw'000

861,178572,140

2,057,65910,554,0943,789,757

719,526239,519

752,592

1!3.059

Note

e(a)

e(b)

e(c)

10

11

12

31 MARCH2019

Frw'000

894,560758,090

3,826,61310,212,2282,102,070

311,834223,342748,991

_ _80.814

2,813,075

u.yZ-il7

13

14

'15

16

19

20

14,673,6661,409,9493_129J03

19213.119

8,947,777

{1,394,574)(4.788.904)

2.764.299

-u,wt-013

rc-e$.5u

14,716,4961,530,472

473.309

rc]ZZ1

8,947,777(1,3s4,574)g.wg57)

2,928,246

19'049J23

21

4RLL

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8;mtd

Urwego Bank Ptc Umuyenzi Plaza3rd Ftoor, KG 5 RD, P.O. Box74B, Kigati-Rwanda

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H Irn egoft tsanKURWEGO BANK PLC (FORMERLY URWEGO BANK LIMITED)

ASAT31 MARCH 2019APPENDIX 1: OTHER DISCLOSURES (REVIEWED BY EX|-ERNAL AUDITORS)

Note: These financial statements and other disclosures are also accessible at Urwego website: www.urweqobank.com,;

AurXeAtSfiAe !ddIQ!!: KN5, RukiriCell, Remera Sector, Gasabo District

o ln March 2019, interest income on loans increased b| 3olo compared to March 2018 as the banklncreased its lending activities and improvement in quality of loans;

. ln March 2019, fees and commissions incomes are25o/o lowerthan March 2018 commission incomesdue to reductions in account maintenance fees

o ln March 2019, interestexpensesare 18% higherthan March 2018 interestexpensesduetotheimplementation of IFRS 16.

. ln March 2019, loans and advances to customers reduced by 3% compared to March 2018 balances" due to scale down of lending activities to mobilize quality loans;

o Deposits remained stable in March 2019 compared to December2018 balances.

31 MARCH 2019

Item. Amount Frw'000

1. Off balance sheet items

2. Non-performinq loan indicators

(a) Non-oerforminqloans 249,8376) NPL Ratio 2%

3. Capital Strenqth

a. Core Capital (Tier1) 2,677,484b. Supplementary Capital (Tier 2) 0c. Total Capital 2,677,484d. Total risk weiqhted assets 12,812,860e. Core capital/Total risk weighted assets ratio 20.897Y0f. Tier'l ratio 20.897Y0g. Total capital/total risk weighted assets ratio 20.897%h. Tier 2 Ratio

4. Liquiditva. Liquidity ratio 296%

5. lnsider lendinqa- Loans to directors, shareholders and subsidiariesb. Loans to employees 311,967

6. Management and board compositiona. Number of Board members Bb. Number of executive directors 1c. Number of Non-executive directors Bd. Number of female directors 2e. Number of male directors of. Number of executive committeeq. Number of females in the Executive committee 1h. Number of males in the Executive committee 2

I lnrrann Rrnlz Dlr I lmr rrrenzi Dlaza 1rd Flaor k(i q tin p O Rov 748