Quarterly Performance - 2008 Compared to 2007
Summary of the Income Statements
| Group |
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2008 |
|
|
|
|
2007 |
|
1st Quarter Rs. Mn |
2nd Quarter Rs. Mn |
3rd Quarter Rs. Mn |
4th Quarter Rs. Mn |
Total Rs. Mn |
1st Quarter Rs. Mn |
2nd Quarter Rs. Mn |
3rd Quarter Rs. Mn |
4th Quarter Rs. Mn |
Total Rs. Mn |
|
|
|
|
|
|
|
|
|
|
|
| Net Interest Income |
2,991.9 |
3,077.8 |
3,282.5 |
3,543.3 |
12,895.5 |
2,432.4 |
2,990.1 |
3,107.7 |
3,056.7 |
11,586.9 |
| Non-Interest Income |
1,390.4 |
1,749.3 |
1,775.2 |
1,831.7 |
6,746.6 |
1,091.7 |
1,133.6 |
1,312.7 |
1,148.3 |
4,686.3 |
| Less: Operating Expenses |
(2,591.7) |
(2,965.0) |
(3,170.1) |
(3,508.2) |
(12,235.0) |
(1,947.9) |
(2,281.3) |
(2,522.6) |
(2,755.5) |
(9,507.3) |
| Profit from Operations |
1,790.6 |
1,862.1 |
1,887.6 |
1,866.8 |
7,407.1 |
1,576.2 |
1,842.4 |
1,897.8 |
1,449.5 |
6,765.9 |
Add: Share of profit of
Associates |
3.5 |
0.7 |
5.2 |
(0.3) |
9.1 |
1.6 |
1.9 |
0.3 |
21.2 |
25.0 |
| Profit before taxation |
1,794.1 |
1,862.8 |
1,892.8 |
1,886.5 |
7,416.2 |
1,577.8 |
1,844.3 |
1,898.1 |
1,470.7 |
6,790.9 |
| Less: Income tax expense |
(768.9) |
(769.8) |
(954.5) |
(802.6) |
(3,295.8) |
(548.6) |
(700.2) |
(793.7) |
(595.9) |
(2,638.4) |
| Profit after taxation |
1,025.2 |
1,093.0 |
938.3 |
1,063.9 |
4,120.4 |
1,029.2 |
1,144.1 |
1,104.4 |
874.8 |
4,152.5 |
| Profit as % of the total |
24.9 |
26.5 |
22.8 |
25.8 |
100.0 |
24.8 |
27.6 |
26.6 |
21.1 |
100.0 |
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| Bank |
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|
|
| Net Interest Income |
2,981.5 |
3,067.2 |
3,272.7 |
3,531.1 |
12,832.5 |
2,426.9 |
2,982.4 |
3,098.2 |
3,044.4 |
11,551.9 |
| Non-Interest Income |
1,385.1 |
1,929.4 |
1,775.4 |
1,837.1 |
6,927.0 |
1,101.7 |
1,126.7 |
1,308.3 |
1,183.3 |
4,720.0 |
| Less: Operating Expenses |
(2,603.1) |
(2,976.9) |
(3,181.1) |
(2,498.2) |
(12,259.3) |
(1,960.1) |
(2,294.5) |
(2,535.4) |
(2,777.1) |
(9,567.1) |
| Profit before taxation |
1,763.5 |
2,019.7 |
1,867.0 |
1,870.0 |
7,520.2 |
1,568.5 |
1,814.6 |
1,871.1 |
1,450.6 |
6,704.8 |
| Less: Income tax expense |
(763.2) |
(761.0) |
(946.1) |
(781.5) |
(3,251.8) |
(541.4) |
(693.8) |
(787.6) |
(578.4) |
(2,601.2) |
| Profit after taxation |
1,000.3 |
1,258.7 |
920.9 |
1,088.5 |
4,268.4 |
1,027.1 |
1,120.8 |
1,083.5 |
872.2 |
4,103.6 |
| Profit as % of the total |
23.4 |
29.5 |
21.6 |
25.5 |
100.0 |
25.0 |
27.3 |
26.4 |
21.3 |
100.0 |
| |
| Summary of the Balance Sheets |
| Group |
| |
|
2008 |
|
2007 |
|
|
|
|
|
|
|
|
|
|
|
As at
31-March |
As at
30-June |
As at
30-Sep |
As at
31-Dec |
|
As at
31-March |
As at
30-June |
As at
30-Sep |
As at
31-Dec |
| |
Rs. Mn |
Rs. Mn |
Rs. Mn |
Rs. Mn |
|
Rs. Mn |
Rs. Mn |
Rs. Mn |
Rs.Mn |
|
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|
| Net Loans & Advances |
177,815.2 |
177,135.6 |
177,830.7 |
180,197.1 |
|
150,713.2 |
160,480.1 |
165,974.8 |
174,172.1 |
| Investments |
55,954.1 |
52,667.6 |
56,801.6 |
56,595.2 |
|
34,820.6 |
46,786.7 |
48,164.3 |
52,466.9 |
| Other Assets |
45,161.2 |
46,379.5 |
47,613.7 |
44,774.7 |
|
48,975.5 |
43,592.0 |
44,691.7 |
41,746.2 |
| |
278,930.5 |
276,182.7 |
282,246.0 |
281,567.0 |
|
234,509.3 |
250,858.8 |
258,830.8 |
268,385.2 |
| Deposits |
186,099.1 |
191,498.2 |
195,796.8 |
199,865.2 |
|
168,750.9 |
169,331.9 |
174,516.5 |
183,087.9 |
| Other Liabilities |
67,408.7 |
59,778.4 |
60,993.9 |
55,448.8 |
|
48,653.7 |
58,080.3 |
60,143.1 |
60,915.6 |
| Shareholders' Funds |
25,422.7 |
24,906.1 |
25,455.3 |
26,253.0 |
|
17,104.7 |
23,446.6 |
24,171.2 |
24,381.7 |
| |
278,930.5 |
276,182.7 |
282,246.0 |
281,567.0 |
|
234,509.3 |
250,858.8 |
258,830.8 |
268,385.2 |
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| Bank |
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|
| Net Loans & Advances |
177,927.5 |
177,242.1 |
177,966.2 |
180,401.2 |
|
150,830.6 |
160,596.7 |
166,090.7 |
174,323.6 |
| Investments |
55,984.6 |
52,861.7 |
56,981.5 |
56,767.1 |
|
34,894.5 |
46,851.7 |
48,220.5 |
52,510.0 |
| Other Assets |
44,533.6 |
45,747.7 |
46,968.7 |
44,045.4 |
|
48,713.3 |
43,277.0 |
44,389.0 |
41,106.0 |
| |
278,445.7 |
275,851.5 |
281,916.4 |
281,213.7 |
|
234,438.4 |
250,725.4 |
258,700.2 |
267,939.6 |
| Deposits |
186,104.3 |
191,512.0 |
195,818.2 |
199,881.0 |
|
168,875.4 |
169,362.7 |
174,542.5 |
183,110.1 |
| Other Liabilities |
67,389.3 |
59,737.4 |
60,964.2 |
55,441.5 |
|
48,635.3 |
58,116.4 |
60,207.7 |
60,893.5 |
| Shareholders' Funds |
24,952.1 |
24,602.1 |
25,134.0 |
25,891.2 |
|
16,927.7 |
23,246.3 |
23,950.0 |
23,936.0 |
| |
278,445.7 |
275,851.5 |
281,916.4 |
281,213.7 |
|
234,438.4 |
250,725.4 |
258,700.2 |
267,939.6 |
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Stock Exchange Listing
The following securities of Commercial Bank of Ceylon PLC are listed on the main board of the Colombo Stock Exchange (CSE).
| Shares |
Debentures |
| |
Fixed Rate |
Floating Rate |
| Ordinary Voting Shares |
December 2006/2011 |
December 2006/2011 |
| Ordinary Non-Voting Shares |
December 2006/2013 |
December 2006/2013 |
| |
December 2006/2016 |
December 2006/2016 |
| |
|
|
The Audited Income Statement for the year ended December 31, 2008 and the Audited Balance Sheet as at
December 31, 2008 will be submitted
to the Colombo Stock Exchange within three months from the Balance Sheet date.
The Stock Exchange ticker symbol for Commercial Bank's shares is 'COMB'.
Details of trading activities are published in most daily newspapers, generally under the above abbreviation.
Information on Share Trading
|
Ordinary Shares |
|
11.25% Cumulative
Redeemable Preference Shares |
|
| |
2008 |
2007 |
2008 |
2007 |
| Number of transactions |
9,195 |
14,428 |
N/A |
5 |
| Number of shares traded |
12,381,000 |
17,862,280 |
N/A |
20,200 |
| Value of shares traded (Rs.) |
1,223,717,750 |
2,566,873,961 |
N/A |
181,800 |
11.25% Cumulative Preference Shares amounting to Rs. 1.000 billion allotted on May 13, 2003 were redeemed on May 12, 2008.
| Earnings per Share and Price Earnings Ratio - Bank |
|
|
| |
2008 |
2007 |
| Earnings Per Share (Rs.) |
16.96 |
16.84 |
| Price Earnings Ratio (Times) |
3.95 |
8.73 |
| |
|
|
Market Capitalisation and Market Prices
(a) Market Capitalisation
| As at December 31 |
Shareholders’
Funds
Rs. Mn |
Com Bank Market Capitalisation
Rs. Mn |
Capitalisation
of the CSE
Rs. Mn |
As % of CSE
Market
Capitalisation |
Market
Capitalisation
Ranking |
| 2004 |
13,911 |
10,388 |
381,913 |
2.72 |
6 |
| 2005 |
15,768 |
17,991 |
583,786 |
3.08 |
4 |
| 2006 |
15,843 |
25,368 |
834,763 |
3.04 |
5 |
| 2007 |
23,937 |
34,234 |
820,652 |
4.17 |
4 |
| 2008 |
25,891 |
15,630 |
488,813 |
3.20 |
4 |
| |
|
|
|
|
|
(b) Market Prices
| |
Ordinary Shares |
|
|
|
|
|
| |
Voting |
|
Non-Voting |
|
11.25% Cumulative
Redeemable Preference
Shares |
| |
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
| |
Rs. |
Rs. |
Rs. |
Rs. |
Rs. |
Rs. |
| Highest |
149.75 |
250.00 |
89.50 |
144.50 |
N/A |
9.00 |
| Lowest |
66.25 |
128.00 |
48.00 |
60.00 |
N/A |
9.00 |
| Year end |
67.00 |
147.00 |
49.00 |
74.50 |
N/A |
9.00 |
| |
|
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|
|
Information on Dividends on Ordinary Shares
The details of the dividends paid/proposed are as follows:
| |
2008 |
2007 |
| |
Rs. |
Rs. |
| First interim dividend paid |
1.50 |
1.50 |
| Second interim dividend paid |
1.50 |
1.50 |
Third interim dividend paid |
– |
1.50 |
| Final dividend proposed/paid |
4.00 |
2.50 |
| |
7.00 |
7.00 |
The Board of Directors of the Bank has recommended a final dividend of Rs. 4.00 per ordinary share for the year ended
December 31, 2008 for approval by the shareholders at the 40th Annual General Meeting (AGM). |
