Statement of Changes in Equity

Stated capital Reserves
For the year ended 31 December Ordinary
voting shares

LKR
Statutory
reserve

LKR
Retained
earnings

LKR
Available-for-sale
reserve/fair value
through OCI
LKR
General
reserves

LKR
Total
Equity

LKR
Balance as at 1 January 2017 4,062,961,714 172,372,786 1,249,742,154 (12,453,979) 46,656,973 5,519,279,648
Profit for the year 507,823,532 507,823,532
Other comprehensive income (net of tax) 2,077,254 2,077,254
Total comprehensive income for the year 509,900,786 509,900,786
Transactions with equity holders, recognised directly in equity
Share issue/increase of assigned capital 1,461,340,020 1,461,340,020
Scrip dividend 234,387,477 (262,498,600) (28,111,123)
Transfer to statutory reserve fund 25,391,177 (25,391,177)
Dividends to equity holders (131,249,300) (131,249,300)
Total transactions with equity holders 1,695,727,497 25,391,177 (419,139,077) 1,301,979,597
Balance as at 31 December 2017 5,758,689,211 197,763,963 1,340,503,863 (12,453,979) 46,656,973 7,331,160,031
Balance as at 31 December 2017 5,758,689,211 197,763,963 1,340,503,863 (12,453,979) 46,656,973 7,331,160,031
Impact of adoption of SLFRS 9 as at 1 January 2018 (Note 43) (37,054,387) (37,054,387)
Restated balance under SLFRS 9 as at 1 January 2018 5,758,689,211 197,763,963 1,303,449,476 (12,453,979) 46,656,973 7,294,105,644
Profit for the year 356,950,119 356,950,119
Other comprehensive income (net of tax) (33,116,620) (3,388,111) (36,504,731)
Total comprehensive income for the year 323,833,499 (3,388,111) 320,445,388
Transactions with equity holders, recognised directly in equity
Scrip dividend 162,848,915 (191,726,035) (28,877,120)
Dividends to equity holders (136,947,168) (136,947,168)
Transfer to statutory reserve fund 17,847,506 (17,847,506)
Total transactions with equity holders 162,848,915 17,847,506 (346,520,708) (165,824,287)
Balance as at 31 December 2018 5,921,538,126 215,611,469 1,280,762,267 (15,842,090) 46,656,973 7,448,726,745

Statutory reserve fund

Every licensed specialised bank has to make a provision not less than 5% out of profit after tax to the Statutory Reserve Fund. Such provision should be made annually as stipulated by the Banking Act No. 30 of 1988 as amended by Banking (Amendment) Act No. 33 of 1995 until the said reserve fund is equal to 50% of the equity capital of the Bank. Thereafter, the Bank has to make a provision not less than 2% out of profit after tax to the Statutory Reserve Fund until the said Fund is equal to the equity capital of the Bank.

General reserve

The general reserve is created after provisioning for a statutory reserve fund and interim dividend payments for the respective shareholders, this reserve will be used by the Bank for the future capitalisation purposes of the Bank.

Fair value through OCI/available-for-sale reserve

The available for sale reserve is consist of fair value adjustment made to unquoted equity investment.

The Accounting Policies and Notes on pages 128 through 184 from an integral part of the Financial Statements.

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