Bank			Group
As at 31 December	Note	2016 LKR ’000	2015 LKR ’000	Change %	2016 LKR ’000	2015 LKR ’000	Change %
Assets
Cash and cash equivalents	20	67,705,791	79,916,559	(15.3)	73,244,043	83,722,721	(12.5)
Balances with Central Banks	21	56,387,741	38,939,790	44.8	56,387,741	38,939,790	44.8
Placements with banks	22	11,674,664	27,975,582	(58.3)	12,931,605	28,355,579	(54.4)
Securities purchased under resale agreements		1,901,618	12,299,088	(84.5)	2,350,704	13,678,789	(82.8)
Derivative financial instruments	23	5,300,844	7,419,288	(28.6)	5,300,844	7,419,288	(28.6)
Financial instruments – Held for trading	24	8,474,041	12,173,304	(30.4)	8,804,647	12,726,045	(30.8)
Financial investments – Loans and receivables	25	191,874,638	232,561,268	(17.5)	191,984,082	233,003,742	(17.6)
Loans and advances to customers	26	1,000,082,574	826,789,630	21.0	1,027,768,110	851,905,227	20.6
Financial investments – Available for sale	27	10,463,046	12,021,569	(13.0)	16,263,641	16,266,652	(0.0)
Financial investments – Held to maturity	28	243,178,400	246,288,625	(1.3)	243,253,967	246,349,511	(1.3)
Investment in subsidiary companies	29	6,213,048	6,213,048	–	–	–	–
Investment in associate companies	30	92,988	842,988	(89.0)	420,669	1,912,317	(78.0)
Investment properties	31	3,000,000	–	100.0	127,670	145,840	(12.5)
Property, Plant and Equipment	32	15,482,163	16,325,758	(5.2)	29,200,036	26,441,803	10.4
Leasehold properties	33	101,839	104,653	(2.7)	136,155	140,330	(3.0)
Intangible assets	34	563,490	373,315	50.9	655,630	503,958	30.1
Deferred tax assets	35	–	–	–	5,456	10,142	(46.2)
Other assets	36	46,794,389	48,044,235	(2.6)	47,721,701	48,677,586	(2.0)
Total assets		1,669,291,274	1,568,288,700	6.4	1,716,556,701	1,610,199,320	6.6
Liabilities
Due to banks	37	2,042,322	2,630,408	(22.4)	2,053,945	2,632,827	(22.0)
Securities sold under repurchase agreements		59,424,629	87,353,154	(32.0)	58,925,801	86,213,965	(31.7)
Derivative financial instruments	38	171,663	156,302	9.8	171,663	156,302	9.8
Due to customers	39	1,256,589,490	1,082,337,118	16.1	1,273,631,287	1,097,950,702	16.0
Other borrowings	40	195,469,853	250,089,102	(21.8)	204,485,301	255,795,079	(20.1)
Debt securities issued	41	3,427,058	3,427,058	–	8,360,333	8,703,747	(3.9)
Current tax liabilities		–	2,080,849	(100.0)	253,020	2,284,079	(88.9)
Deferred tax liabilities	35	1,439,285	1,516,995	(5.1)	4,078,734	3,948,551	3.3
Insurance provision – Life	42	–	–	–	514,675	444,257	15.9
Insurance provision – Non-life	42	–	–	–	775,375	517,659	49.8
Other liabilities	43	19,231,833	21,585,644	(10.9)	21,656,513	23,187,932	(6.6)
Subordinated term debts	45	38,645,546	35,627,450	8.5	38,295,318	35,290,007	8.5
Total liabilities		1,576,441,679	1,486,804,080	6.0	1,613,201,965	1,517,125,107	6.3
Equity
Share capital	46	15,000,000	10,000,000	50.0	15,000,000	10,000,000	50.0
Permanent reserve fund	47	7,996,000	5,209,955	53.5	7,996,000	5,209,955	53.5
Retained earnings		54,154,685	51,086,010	6.0	55,659,003	53,888,295	3.3
Other reserves	48	15,698,910	15,188,655	3.4	23,820,288	22,965,323	3.7
Total equity attributable to equity holder of the Bank		92,849,595	81,484,620	13.9	102,475,291	92,063,573	11.3
Non-controlling interest	49	–	–	–	879,445	1,010,640	(13.0)
Total equity		92,849,595	81,484,620	13.9	103,354,736	93,074,213	11.0
Total liabilities and equity		1,669,291,274	1,568,288,700	6.4	1,716,556,701	1,610,199,320	6.6
Contingent liabilities and commitments	51	547,398,625	696,857,050	(21.4)	548,333,620	697,938,094	(21.4)
Net assets value per share (LKR)	46	9,284.96	8,148.46	13.9	10,247.53	9,206.36	11.3

The Notes form an integral part of these Financial Statements.

These Financial Statements give a true and fair view of the state of affairs of the Bank of Ceylon and the Group as at 31 December 2016 and its profit for the year then ended.

 

W P Russel Fonseka
Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Approved and signed for and on behalf of the Board,

Ronald C Perera Chairman

Ranel T Wijesinha Director

D M Gunasekara General Manager

29 March 2017
Colombo