- Annual Report of the Directors on the State of Affairs of Bank of Ceylon
- Directors’ Interest in Contracts
- Directors’ Statement on Internal Control Over Financial Reporting
- Independent Assurance Report
- Directors’ Responsibility for Financial Reporting
- Report of the Auditor General
- Statement of Profit or Loss
- Statement of Comprehensive Income
- Statement of Financial Position
- Statement of Changes in Equity
- Statement of Cash Flows
- Notes to the Financial Statements
Statement of Cash Flows
| Bank | Group | ||||
| For the year ended 31 December | Note | 2017 LKR ’000 |
2016 LKR ’000 |
2017 LKR ’000 |
2016 LKR ’000 |
| Cash Flows from Operating Activities | |||||
| Profit before income tax | 30,342,980 | 31,188,685 | 30,815,563 | 30,117,032 | |
| Adjustments for: | |||||
| Net interest income | 8 | (58,356,192) | (53,957,488) | (61,490,102) | (56,606,492) |
| Dividend income on trading securities | 10 | (111,783) | (113,674) | (120,214) | (126,801) |
| Dividends from subsidiaries and associates | 12 | (76,680) | (1,102,158) | – | – |
| Share of (profits)/losses of associate companies, net of tax | 16 | – | – | (52,024) | (62,952) |
| Change in operating assets | 52.1 | (176,623,016) | (160,667,438) | (177,474,266) | (163,958,901) |
| Change in operating liabilities | 52.2 | 304,162,970 | 131,411,796 | 306,329,345 | 134,895,340 |
| Other non-cash items included in profit before tax | 52.3 | 10,872,287 | 3,832,099 | 12,102,838 | 4,890,843 |
| Other net gains from investing activities | 11 | (905,527) | (273,881) | (925,733) | (312,273) |
| 109,305,039 | (49,682,059) | 109,185,407 | (51,164,204) | ||
| Benefit paid from defined benefit plans | (6,976,625) | (6,427,894) | (6,994,516) | (6,469,307) | |
| Interest received | 120,744,703 | 95,086,587 | 126,994,502 | 99,900,577 | |
| Interest paid | (85,565,050) | (54,415,320) | (88,311,449) | (56,022,201) | |
| Dividends received | 111,783 | 113,674 | 120,214 | 126,801 | |
| Net cash from/(used in) operating activities before income tax | 137,619,850 | (15,325,012) | 140,994,158 | (13,628,334) | |
| Income tax paid | (2,580,454) | (6,020,924) | (2,683,837) | (6,248,626) | |
| Net cash from/(used in) operating activities | 135,039,396 | (21,345,936) | 138,310,321 | (19,876,960) | |
| Cash Flows from Investing Activities | |||||
| Net (increase)/decrease in financial investments – Held to maturity | (65,055,871) | 3,105,015 | (65,470,538) | 3,090,334 | |
| Net (increase)/decrease in financial investments – Available for sale | (7,716,838) | 624,947 | (6,571,920) | (861,988) | |
| Net (increase)/decrease in financial investments – Loans and receivables | (21,292,409) | 40,686,630 | (22,365,555) | 41,019,663 | |
| Proceeds from disposal of an associate company | – | 3,880,000 | – | 3,880,000 | |
| Purchase of Property, Plant and Equipment and leasehold properties | (3,080,752) | (2,052,805) | (3,199,778) | (2,207,275) | |
| Purchase of intangible assets | (528,565) | (376,643) | (764,014) | (390,549) | |
| Proceeds from sale of Property, Plant and Equipment | 62,457 | 18,961 | 69,101 | 63,951 | |
| Dividends received | 649,270 | 1,268,331 | 592,796 | 204,565 | |
| Interest received | 40,578,598 | 36,487,727 | 41,088,070 | 36,809,586 | |
| Net cash from/(used in) investing activities | (56,384,110) | 83,642,163 | (56,621,838) | 81,608,287 | |
| Cash Flows from Financing Activities | |||||
| Net decrease in other borrowings | (49,653,199) | (42,090,586) | (52,901,368) | (38,650,060) | |
| Proceeds from issue of shares | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | |
| Proceeds from issue of debentures | 10,000,000 | 8,000,000 | 12,000,000 | 7,990,000 | |
| Payments on redemption of debentures | (9,501,723) | (5,032,015) | (10,867,381) | (5,368,253) | |
| Dividends paid to equity holders of the Bank | (12,346,410) | (18,346,410) | (12,346,410) | (18,346,410) | |
| Dividends paid to non-controlling interest | – | – | (1,931) | (52,866) | |
| Interest payments on borrowings and debt securities | (17,320,884) | (21,458,109) | (18,093,765) | (22,211,745) | |
| Net cash used in financing activities | (73,822,216) | (73,927,120) | (77,210,855) | (71,639,334) | |
| Net increase/(decrease) in cash and cash equivalents during the year | 4,833,070 | (11,630,893) | 4,477,628 | (9,908,007) | |
| Cash and cash equivalents at the beginning of the year | 66,898,438 | 78,529,331 | 72,425,067 | 82,333,074 | |
| Cash and cash equivalents at the end of the year | 71,731,508 | 66,898,438 | 76,902,695 | 72,425,067 | |
| Analysis of Cash and Cash Equivalents | |||||
| Cash and cash equivalents | 20 | 72,843,108 | 67,705,791 | 78,005,362 | 73,244,043 |
| Bank overdrafts | 38 | (1,111,600) | (807,353) | (1,102,667) | (818,976) |
| Cash and cash equivalents at the end of the year | 71,731,508 | 66,898,438 | 76,902,695 | 72,425,067 | |
The Notes to the Financial Statements form an integral part of these Financial Statements.