News
https://www.traditionrolex.com/10
https://www.traditionrolex.com/10
Tawhidbank - The First Islamic Bank in Tajikistan, announces financial results for eleven months of 2021
The Bank's net profit reached 4.3 million TJS. Net income from the financing portfolio showed an increase of 370% in comparison with the previous year.
Commission income grew by 20%, mainly due to settlement transactions and guarantees.
As of November 30, 2021, capital increased by 21% compared to last year and amounted to 110 million TJS. The Bank's assets amounted to 181 million TJS, showing an increase of 32%.
The Bank's financing portfolio increased by 155% and amounted to 23 million TJS. The NPL share is 0.02%.
Positive profitability indicators: ROA and ROE amounted to 2.38% and 3.95%, respectively.
The NBT liquidity ratio is exceeded with a margin: К2.1 as of November 30, 2021 amounted to 135% (with a regulatory minimum of 40% for Islamic banks).
Capital adequacy ratio К1.1 - 54% (with the NBT regulatory minimum 12%).
The earnings per share ratio (EPS), that is, the profitability of 1 share of the Bank (total number of paid shares = 8.5 million) for the reporting period is 7%.
The Bank's customer base tends to increase both for corporate and retail customers and has reached 12,000. Compared to the same period last year, the growth amounted to 280%.
The Bank's product line is formed taking into account the individual needs of both retail and corporate customers.
The list of the main products and services offered by Tawhidbank includes Murabaha - Murabaha-auto-financing, Murabaha-consumer, Murabaha-business financing and Murabaha-house financing with a low rate of return.
Also, customers are offered Islamic credit cards "Sabz" based on the concept of "Hasan" with a limit of 3000 TJS and 6000 TJS with the withdrawal of a one-time commission. Customers have the opportunity, in case of early repayment of loan, repeatedly, but without a repeated commission withdrawal, to receive funds, according to the provided previous limit (3000 TJS or 6000 TJS) for the remainder of the term (in total, 1 year). Islamic credit card "Sabz" can be linked to Tawhidbank's mobile application - Tawhid Pay (which has been evaluated for compliance with the principles of Islamic finance) for non-cash payments. Repayment can be made through the wallet, as well as through payment terminals of the Bank's partners – “Eskhata Bank”, MDO “Tamvil” and LLC MDO “Dushanbe City”. Through POS-terminals, Tawhidbank customers can also replenish their deposit account, their Tawhid Pay mobile wallet, as well as replenish “T-kort” Bank debit cards absolutely free of charge."T-kort" Tawhidbank debit cards are convenient for receiving and sending money transfers, according to which the Bank always offers a favorable exchange rate and a limit of up to 35,000 TJS per day for cashing out through the Bank's ATMs.
These cards are also linked to the Tawhid Pay mobile application, through which you can replenish your own and different wallet, the Tawhidbank card and the different card, make payments through POS terminals and through QR codes, pay for utilities, Internet services and other, with absolutely no commission.
In addition to cards, identified customers can link their Tawhidbank accounts to Tawhid Pay and make transfers between their accounts, to their own and different wallet and cards.
The Tawhid Pay mobile application can be downloaded while being in Russia and make transfers by linking Russian Bank cards with no limit in the amount.
The positive financial result of Tawhidbank's activities is ensured by the strict conduct of business in accordance with the “Bank's Development Strategy” with timely adjustments depending on market changes, competent asset and liability management and hard work of highly qualified and competent specialists from the friendly team of Tawhidbank.
Commission income grew by 20%, mainly due to settlement transactions and guarantees.
As of November 30, 2021, capital increased by 21% compared to last year and amounted to 110 million TJS. The Bank's assets amounted to 181 million TJS, showing an increase of 32%.
The Bank's financing portfolio increased by 155% and amounted to 23 million TJS. The NPL share is 0.02%.
Positive profitability indicators: ROA and ROE amounted to 2.38% and 3.95%, respectively.
The NBT liquidity ratio is exceeded with a margin: К2.1 as of November 30, 2021 amounted to 135% (with a regulatory minimum of 40% for Islamic banks).
Capital adequacy ratio К1.1 - 54% (with the NBT regulatory minimum 12%).
The earnings per share ratio (EPS), that is, the profitability of 1 share of the Bank (total number of paid shares = 8.5 million) for the reporting period is 7%.
The Bank's customer base tends to increase both for corporate and retail customers and has reached 12,000. Compared to the same period last year, the growth amounted to 280%.
The Bank's product line is formed taking into account the individual needs of both retail and corporate customers.
The list of the main products and services offered by Tawhidbank includes Murabaha - Murabaha-auto-financing, Murabaha-consumer, Murabaha-business financing and Murabaha-house financing with a low rate of return.
Also, customers are offered Islamic credit cards "Sabz" based on the concept of "Hasan" with a limit of 3000 TJS and 6000 TJS with the withdrawal of a one-time commission. Customers have the opportunity, in case of early repayment of loan, repeatedly, but without a repeated commission withdrawal, to receive funds, according to the provided previous limit (3000 TJS or 6000 TJS) for the remainder of the term (in total, 1 year). Islamic credit card "Sabz" can be linked to Tawhidbank's mobile application - Tawhid Pay (which has been evaluated for compliance with the principles of Islamic finance) for non-cash payments. Repayment can be made through the wallet, as well as through payment terminals of the Bank's partners – “Eskhata Bank”, MDO “Tamvil” and LLC MDO “Dushanbe City”. Through POS-terminals, Tawhidbank customers can also replenish their deposit account, their Tawhid Pay mobile wallet, as well as replenish “T-kort” Bank debit cards absolutely free of charge."T-kort" Tawhidbank debit cards are convenient for receiving and sending money transfers, according to which the Bank always offers a favorable exchange rate and a limit of up to 35,000 TJS per day for cashing out through the Bank's ATMs.
These cards are also linked to the Tawhid Pay mobile application, through which you can replenish your own and different wallet, the Tawhidbank card and the different card, make payments through POS terminals and through QR codes, pay for utilities, Internet services and other, with absolutely no commission.
In addition to cards, identified customers can link their Tawhidbank accounts to Tawhid Pay and make transfers between their accounts, to their own and different wallet and cards.
The Tawhid Pay mobile application can be downloaded while being in Russia and make transfers by linking Russian Bank cards with no limit in the amount.
The positive financial result of Tawhidbank's activities is ensured by the strict conduct of business in accordance with the “Bank's Development Strategy” with timely adjustments depending on market changes, competent asset and liability management and hard work of highly qualified and competent specialists from the friendly team of Tawhidbank.
10.12.2021