(%) September 2017 December 2016 Avals to bills 8,187 7,424 5,529 10.3% 48.1% Guarantees of loans 20,445 20,192 18,001 1.3% 13.6% Liability under unmatured import bills 16,394 14,597 17,921 12.3% (8.5)% Letters

information in the offering documents nor guarantees the price or the return of the fund”. Clause 16. The securities company shall have statements or warnings under Clause 15 or any other warnings presented

name)….. on …(date)… does not mean the SEC or the Office certifies the completeness or the correctness of the information in the offering documents nor guarantees the price or the return of the fund

completeness or the correctness of the information in the offering documents nor guarantees the price or the return of the fund”. Clause 12. The securities company shall have statements or warnings under Clause

nor guarantees the price or the return of the fund”. Clause 12. The securities company shall have statements or warnings under Clause 11 or any other warnings presented clearly through any media or

2020, the company and its subsidiaries recorded a cash outflow in investing activities of 2.49Mb. This included 1.95 Mb restricted cash for Letter of guarantees and purchasing of Office Equipment of 0.54

SEC or the Office certifies the completeness or the correctness of the information in the offering documents nor guarantees the price or the return of the fund”. Clause 16. The securities company shall

the Office certifies the completeness or the correctness of the information in the offering documents nor guarantees the price or the return of the fund”. Clause 12. The securities company shall have

March 2019 December 2018 March 2018 Change (%) December 2018 March 2018 Avals to bills 6,876 5,800 8,169 18.6% (15.8)% Guarantees of loans 31,489 32,236 19,650 (2.3)% 60.2% Liability under unmatured

2018 December 2017 Avals to bills 5,800 7,490 8,187 (22.6)% (29.2)% Guarantees of loans 32,236 77,228 20,445 (58.3)% 57.7% Liability under unmatured import bills 19,041 17,150 16,394 11.0% 16.1% Letters