March 04, 2025

Dolla Financial Services Limited (DOLLA)

Audited financials for the twelve months ended December 31, 2024:

Dolla Financial Services Limited (Dolla) reported a 30% increase in interest income totaling $1.52 billion for the twelve months ended December 31, 2024, compared to $1.17 billion in the corresponding period last year. Interest Income for the fourth quarter increased 33% to close at $426.94 million compared to $320.89 million for the comparable quarter of 2023.

Interest Expenses amounted to $295.65 million (2023: $170.33 million), an increase of 74% year over year. Consequently, net interest income increased by 23% to $1.23 billion compared to $1.00 billion for the twelve months ended December 31, 2023. The company booked a net interest income of $323.50 million for the fourth quarter versus $265.57 million reported for the similar quarter of 2023.

Net Interest Income after Loan Impairment increased by 18% to close at $1.17 billion (2023: $987.09 million), while Fees and Other Income increased by 279% from $5.33 million in 2023 to $20.20 million in the period under review. As a result, foreign exchange losses for the twelve months ended December 31, 2024, amounted to $8.89 million, a 26% decrease relative to $12.08 million reported in 2023.

Total Net Interest Income and Other Revenue for the twelve months ended December 31, 2024, amounted to $1.18 billion, a 20% increase relative to $980.34 million reported in 2023. Total Net Interest Income and Other Revenue for the fourth quarter amounted to $308.54 million (2023: $276.39 million).

Administrative Expenses totaled $698.94 million, a 31% increase from last year’s corresponding period. (2023: $535.45 million) while Profit before Taxation totaled $478.15 million, a 7% increase from last year’s corresponding period. (2023: $444.88 million).

Income Tax for the twelve months ended December 31, 2024, amounted to $67.59 million, a 162% increase relative to $25.76 million reported in 2023. Income Tax for the fourth quarter amounted to $38.20 million (2023: $12.00 million). Net Profit for the twelve months ending December 31, 2024, had a 2% decrease to $410.57 million (2023: $419.13 million). Total Comprehensive Income for the twelve months amounted to $412.92 million, a 3% decrease from the $424.44 million reported in 2023. For the fourth quarter, Total Comprehensive Income was $79.94 million (2023: $96.13 million).

Consequently, Earnings Per Share for the twelve months amounted to $0.16 (2023: EPS: $0.17), while Earnings Per Share for the quarter totaled $0.03 (2023: EPS: $0.04). The number of shares used in these calculations was 2,500,000,000.

Dolla’s stock price closed the trading period on April 03, 2025, for $2.61 with a corresponding P/E ratio of 15.89x.

Balance Sheet Highlights

The company’s assets totaled $4.58 billion (2023: $2.99 billion). The overall growth in the company’s asset base was driven by several key factors: a 63% year-over-year (YoY) increase in Loans, Net of Provision for Credit Losses, which rose to $3.99 billion (2023: $2.45 billion); a 72% YoY increase in Other Receivables, reaching $86.86 million (2023: $50.45 million); a substantial 492% YoY surge in Intangible Assets, climbing to $5.50 million (2023: $929,000); and a 9% YoY increase in Cash and Cash Equivalents, which totaled $355.29 million (2023: $325.89 million) at year-end.

Shareholder’s equity was $1.13 billion (2023: $981.38 million), representing a book value per share of $0.45 (2023: $0.39).

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