Achieving Our Financial Goals

SANASA Development Bank PLC experienced, what could best be described as a subdued financial performance in 2018. This was mainly due to the increased “provision for impairment” of loans and advances that all banks were required to make, to comply with Accounting Standard SLFRS 9.

The summary comparative results for the 2 years 2018 and 2017 are shown below:

(LKR Bn.)
(LKR Bn.)
Net interest income 4.693 3.887
Net fee and commission income 0.222 0.275
Total operating income 5.216 4.425
Impairment for loans and other losses 0.526 0.293
Net operating income 4.690 4.132
Profit before taxes 1.113 1.102
Taxes (vat, nbt, Debt repayment levy, Inc. tax) 0.756 0.594
Profit after taxes 0.357 0.508

Net interest income increased year on year by 21% with interest expense maintaining their cost at 64% of income. This was a positive result since the credit market did not offer cheap money during the year.


Total asset base – LKR 96.818 Bn. Growth of asset base – 17.5%
Deposits – LKR 67.475 Bn. Deposits growth – 12.6%
Loans and advances – LKR 77.507 Bn. Growth in loans and advances – 16.2%
Total equity – LKR 7.448 Bn. Market capitalisation – LKR 4.22 Bn.