UNAUDITED FINANCIAL REPORT NINE MONTHS ENDED DECEMBER 31, 2021

UNAUDITED FINANCIAL REPORT

NINE MONTHS ENDED DECEMBER 31, 2021

Access Financial Services Limited

Directors¡¯ Statement

The Board of Directors of Access Financial Services Limited is

pleased to present the Consolidated Unaudited Financial Statements

of the Group for the nine months ended December 31, 2021.

Overview

Access Financial Services Limited (AFS) recorded Consolidated Net

Profit after Tax of $265 million for the nine months ended December

31, 2021, compared to $128 million for similar period in 2020.

This performance reflects an improvement in the size and quality of

the loan portfolio, resulting in higher interest income and lower credit

losses as the economy recovers from the impact of COVID-19. The

Group continues to show good operating leverage as Consolidated

Net Operating Income has increased by $118 million or 9% year

over year, while concurrently, Operating Expenses have declined by

$70 million or 6%.

As at December 31, 2021, the Group¡¯s asset base stood at $5.81

billion; an increase of $322 million or 6% in comparison to the 2020

period. Loans and Advances now stand at $4.5 billion; an increase

of 11% year over year. This is primarily due to improvements in

disbursements as the operating environment returns to normalcy and

the economy continues to improve.

Financial Performance

Net Operating Income for the nine months ended December 31,

2021, increased by 118 million to $1.47 billion; a 9% increase year

over year. The growth in operating income is attributable to growth

in net interest margins and increased recoveries on bad debts. Operating Expenses declined by $70 million or 6% for the reporting

period.

HIGHLIGHTS

Unaudited

Nine Months Ended

Dec 31, 2021

% Change

Unaudited

Audited

Nine Months Ended

Year Ended Year over Year

Dec 31, 2020 31 March, 2021

OPERATING RESULTS (INCOME STATEMENT DATA):

Net Profit After Tax - J$ millions

265

128

266

107%

FINANCIAL POSITION & STRENGTH (BALANCE SHEET DATA):

Loans & Advances - J$ billions

4.51

4.05

4.09

11%

Total Asset - J$ billions

5.81

5.49

5.49

6%

Stockholder's Equity - J$ billions

2.67

2.32

2.45

15%

14%

8%

11%

7%

$0.96

$0.47

$0.97

107%

Efficiency Ratio

75%

87%

81%

(12%)

Efficiency Ratio

(excluding Allowances for Credit Losses)

63%

65%

65%

(2%)

PROFITABILITY:

Return on average

Stockholder's Equity (R?)

Earnings Per Stock unit (EPS) - J$

Operating Expenses for the period was $1.10 billion, compared to the amount of $1.17

billion in the prior year. Allowance for credit losses decreased by $116 million or 40%

year over year due to improved delinquency management.

Net Profit after Tax for the nine months period was $265 million, representing an

improvement of 107% when compared to the amount of $128 million for the corresponding 2020 period. This resulted in Earnings per Share for the period of $0.96 compared

to $0.47 for the prior year.

2

Access Financial Services Limited

Directors¡¯ Statement

Financial Position

Total Assets as at December 31, 2021 was $5.81 billion, compared to the prior year amount of $5.49 billion as at December 31, 2020. Loans and

Advances for the Group as at the period end was $4.51 billion. This reflects an improvement of 11% year over year, and 10% since the last year

end due to the higher level of disbursements.

Total Liabilities decreased by $29 million or 1% year over year to $3.14 billion as at December 31, 2021, mainly due to a reduction in Loans

payable as at the period end.

3

Access Financial Services Limited

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31, 2021

Assets

Cash and cash equivalents

Financial investments

Other accounts receivables

Loans and advances

Property, plant and equipment

Intangible assets

Right use of assets

Deferred tax assets

Taxation recoverable

Total Assets

Unaudited

Dec 2021

$¡¯000

Unaudited

Dec 2020

$¡¯000

Audited

March 2021

$¡¯000

365,154

554,590

543,492

5,249

5,415

5,109

70,668

40,898

47,003

4,508,023

4,045,820

4,086,669

86,941

70,622

61,509

485,038

472,785

480,699

95,667

138,884

124,867

189,732

157,027

141,741

-

-

1,682

5,808,154

5,486,041

5,491,089

Approved for issue by the Board of Directors on

January, 27 2022 and signed on its behalf by:

LIABILITIES

Payables

362,418

319,696

330,202

Loan payable

2,546,309

2,646,696

2,542,774

Lease liability

113,126

152,427

142,414

Taxation payable

116,487

48,234

24,420

Total Liabilities

3,138,340

3,167,053

3,039,810

SHAREHOLDERS' EQUITY

Share capital

Fair value reserve

96,051

96,051

96,051

3,236

3,402

3,096

194,437

108,766

130,977

2,376,090

2,110,769

2,221,155

Total Stockholders' Equity

2,669,814

2,318,988

2,451,279

TOTAL LIABILITIES AND

STOCKHOLDERS EQUITY

5,808,154

5,486,041

5,491,089

Foreign exchange translation

Retained earnings

4

Marcus James

Executive Chairman

James Morrison

Director

Access Financial Services Limited

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE NINE MONTHS ENDED DECEMBER 31, 2021

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Three Months Ended Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended

Dec 2021

Dec 2020

Sept 2021

Dec 2021

Dec 2020

Audited

Year Ended

March 2021

$¡¯000

$¡¯000

$¡¯000

$¡¯000

$¡¯000

$¡¯000

411,744

1,010

418,558

377

386,847

995

1,219,240

1,691

1,129,837

5,423

1,519,924

6,009

412,754

418,935

387,843

1,220,931

1,135,260

1,525,933

(57,236)

(57,051)

(60,294)

(170,168)

(195,877)

(256,833)

355,518

106,800

361,884

106,749

327,549

108,434

1,050,762

303,992

939,383

320,854

1,269,100

412,549

462,318

468,633

435,983

1,354,754

1,260,237

1,681,649

349

273

349

869

689

935

Foreign exchanges gains / (losses)

(1,201)

(1,113)

(654)

658

(13,009)

(12,851)

Other income

33,091

32,239

38,961

38,121

23,997

23,692

109,177

110,704

99,220

86,900

149,321

137,405

494,557

507,146

459,675

1,465,459

1,347,136

1,819,054

174,046

168,670

151,264

518,482

498,908

670,511

Allowances for credit losses

52,775

60,863

111,250

174,052

289,570

294,989

Depreciation and amortization

Marketing expenses

30,210

15,033

30,502

8,976

30,894

8,334

91,173

31,643

90,274

30,429

118,351

39,390

Other operating expenses

99,253

109,344

64,231

286,164

261,898

354,508

371,316

378,355

365,973

1,101,514

1,171,078

1,477,749

123,242

(38,112)

128,791

(38,543)

93,702

(27,398)

363,945

(99,209)

176,058

(48,208)

341,305

(75,618)

85,130

90,248

66,304

264,739

127,850

265,687

(87)

(149)

140

1,032

726

(8,514)

1,148

63,462

54,869

77,080

81,647

67,303

328,341

183,751

343,493

$0.33

$0.24

$0.96

$0.47

$0.97

Operating Income

Interest income from loans

Interest income from securities

Total Interest Income

Interest expense

Net Interest Income

Net fees and commissions on loans

Other Operating Income

Money services fees and commission

Net Operating Income

Operating Expenses

Staff costs

Profit / (loss) before taxation

Taxation

PROFIT /(LOSS) FOR THE PERIOD / YEAR

OTHER COMPREHENSIVE INCOME (items that may be reclassified to profit or loss)

Unrealised gains / (losses) on investments at fair value

through other comprehensive income

481

Foreign currency translation gains /(losses)

53,982

on overseas subsidiary

139,593

TOTAL COMPREHENSIVE INCOME

EARNINGS PER STOCK UNIT - JMD cents

$0.31

5

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