UNAUDITED FINANCIAL STATEMENTS

UNAUDITED FINANCIAL STATEMENTS

For the SIX MonthS ended

SEPTEMBER 30 2018

Director's Statement

the Board of directors of Access Financial Services Limited (AFS) is pleased to present the unaudited financial statement of the company for the six-months period ended 30 September 2018.

Overview

Access Financial Services Limited (AFS) recorded net profit after tax of $396 million for the six-months period ending September 30, 2018. Compared to the net profit of $346 million for the corresponding period ended September 30, 2017, this represents an increase of 14%.

on october 16, 2018 we announced our intent to acquire a Florida based Consumer finance Company. the acquisition is pending regulatory approval and other conditions of the purchase agreement.

during the period under review the Asset base of the company grew by $565 million which represents a 17% increase over the comparative period which correlates to the disbursement growth and portfolio expansion.

FINANCIAL HIGHLIGHTS

Six months ended

September 2018

(Unaudited)

Six months ended

September 2017

(Unaudited)

OPERATING RESULTS (INCOME STATEMENT DATA):

net Profit After tax - J$ millions

396

346

FINANCIAL POSITION & STRENGTH (BALANCE SHEET DATA):

Loans & Advances - J$ billions

3.45

2.68

total Asset - J$ billions

3.96

3.39

Stockholder's equity - J$ billions

2.65

2.03

PROFITABILITY:

return on average Stockholder's equity (rOE)

34%

32%

earnings Per stock unit (ePS) - J$

$1.44

$1.26

efficiency ratio

50%

40%

Audited 31 March 2018

716

2.93 3.52 2.30

47% $2.61 53%

% Change YTD

15%

29% 17% 31%

6% 14% 25%

Income Statement

net operating Income for the six-months period ended September 2018 amounted to $851 million. Interest income from loans increased by $133 million or 20% to $785 million. net fees and commission for the period was $70m. operating expenses for the six-months period, decreased by 8% or $37 million when compared to the corresponding period ended September 2017 as a result reduced allowances for credit loss and reduced spend on operating cost.

Earnings per share for the sixmonths period of $1.44 compared to the $1.26 for the comparative 2017 period represents a 14% increase.

net profit after tax for the six months ended September 30, 2018, increased by approximately $49 million or 14%. this resulted in earnings per share for the six-month period of $1.44 compared to $1.26 for the comparative 2017 period representing a 14% increase.

Unaudited Statement of Financial Position

For The Six Months Ended September 30, 2018 (expressed in thousands of Jamaican dollars)

ASSETS Cash and Cash equivalents Financial Investments other accounts receivables Loans and advances Property, plant and equipment Intangible Assets deferred tax Assets TOTAL ASSETS

September 2018 $'000

225,418 3,324

39,557 3,449,578

60,611 46,400 130,129 3,955,019

September 2017 $'000

464,669 2,756 13,641

2,683,335 60,097 43,739 122,184

3,390,422

LIABILITIES Accounts payables Loan Payables taxation Payable Total Liabilities

190,733 1,052,418

57,161 1,300,312

168,374 1,093,650

101,448 1,363,472

SHAREHOLDERS' EQUITY Share Capital Fair value reserve retained earnings Total Stockholders' Equity

96,051 1,311

2,557,345 2,654,707

96,051 743

1,930,156 2,026,950

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

3,955,019

3,390,422

31-Mar-18 $'000

315,928 2,773 35,212

2,932,176 61,788 48,416

122,250 3,518,543

193,788 964,741 56,738 1,215,267

96,051 760

2,206,466 2,303,276

3,518,543

Balance Sheet

the net loan portfolio continues to show growth, with an increase of $766 million or 29% for the quarter under review; moving to $3.45 billion from $2.68 billion for the corresponding 2017 period. this resulted in a positive movement in total assets as at September 2018 to $3.96 billion an increase of 17%. total liabilities increased marginally.

Approved for issue by the Board of directors on october 30, 2018 and signed on its behalf by:

Rex James Chairman

Marcus James Chief executive officer

Unaudited Statement of Profit or Loss and Other Comprehensive Income

For The Six Months Ended September 30, 2018 (expressed in thousands of Jamaican dollars)

Quarter ended September 2018

Quarter ended September 2017

Six Months Ended September 2018

Operating Income Interest Income from Loans Securities

Total Interest Income Interest expense

Net Interest Income Fee and Commission Income

Total Trading Income Other Operating Income

Money Services Foreign exchanges losses/ gains other Income

Net Operating Income Operating Expenses Staff Costs Allowances for credit losses depreciation and amortization Marketing expenses other operating expenses

Profit before taxation Income tax NET PROFIT AXTER TAX

384,558 1,052

385,610 (24,477) 361,133

34,804 395,936

467 10,371 11,567 22,406 418,342

104,792 34,863 9,314 6,841 68,609

224,418 193,924

15,022 178,902

312,559 2,800

315,359 (29,061)

286,298 99,709

386,007

417 2,030 18,015 20,462 406,470

89,682 71,084

7,102 4,685 62,670 235,223 171,247 13,115 158,133

784,709 2,560

787,269 (48,538) 738,731

70,317 809,049

845 18,526 22,985 42,356 851,405

205,676 50,120 18,197 14,581

134,401 422,975 428,430

32,811 395,620

EARNINGS PER STOCK UNIT - JMD cents

$0.65

$0.58

$1.44

Six Months Ended September 2017

651,875 6,522

658,397 (57,058)

601,338 197,312

798,650

844 8,642 31,712 41,198 839,848

177,981 122,829

13,092 12,472 133,936 460,310 379,538 33,154 346,384

$1.26

Year Ended March 2018

1,456,152 10,621

1,466,773 (105,574)

1,361,199 314,089

1,675,288

1,443 1,312 26,310 29,065 1,704,353

382,083 226,658

19,038 25,442 249,183 902,404 801,949 85,922 716,027

$2.61

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