Bank - Based on Financial Statements Prepared Under SLAS

Year ended December 31, Rs. Mn.	2004	2005	2006	2007	2008	2009	2010
Operating Results
Income	12,290	16,100	24,470	35,223	44,115	43,741	41,522
Interest income	9,584	13,034	19,532	30,503	37,188	35,925	34,740
Interest expenses	(4,878)	(7,226)	(11,955)	(18,951)	(24,336)	(23,515)	(18,328)
Foreign exchange profit	874	587	1,439	1,545	2,633	2,962	1,741
Commission and other income	1,832	2,479	3,499	3,175	4,294	4,854	5,041
Operating expenses and provisions	(4,908)	(5,232)	(8,301)	(9,567)	(12,259)	(13,035)	(13,876)
Profit before income tax	2,504	3,642	4,214	6,705	7,520	7,191	9,318
Income tax on profit	(819)	(1,278)	(2,201)	(2,601)	(3,252)	(2,887)	(3,794)
Net profit for the year	1,685	2,364	2,013	4,104	4,268	4,304	5,524
As at December 31,
Assets
Cash and short-term funds	12,136	18,663	13,739	16,208	24,115	24,057	10,557
Balances with Central Banks	6,320	9,045	12,574	11,576	10,322	11,795	12,189
Government Treasury Bills, Bonds and Other Securities	19,900	21,218	32,065	49,863	51,633	96,671	114,541
Commercial paper	560	408	423	–	–	–	–
Securities purchased under re-sale agreements	399	808	4,593	3,804	3,400	5,203	68
Dealing securities	110	182	145	207	58	81	283
Investments held-for-sale	–	–	218	205	–	–	–
Investments held-to-maturity	2,340	3,091	1,394	1,756	1,197	1,025	2,366
Bills of exchange	2,799	2,790	3,204	3,195	3,059	2,847	5,291
Lease receivable	5,317	7,088	9,482	10,945	9,484	7,794	11,019
Loans and advances	82,605	108,884	137,846	160,184	167,858	161,329	200,729
	132,486	172,177	215,683	257,943	271,126	310,802	357,043
Investments in associate companies	109	107	44	44	44	44	44
Investments in subsidiary companies	429	434	434	434	434	279	354
Other assets	2,553	4,177	4,336	5,751	5,512	6,808	6,191
Property, Plant & Equipment and Intangible Assets	2,896	3,182	3,477	3,768	4,098	4,382	6,428
Total Assets	138,473	180,077	223,974	267,940	281,214	322,315	370,060
Liabilities
Deposits from customers	98,730	127,601	157,496	183,110	199,881	234,745	259,779
Dividends payable	230	230	113	113	–	–	–
Borrowings	9,090	13,387	18,944	18,752	13,620	11,639	14,371
Securities sold under re-purchase agreements	9,050	11,389	14,330	23,342	25,075	29,905	45,774
Other liabilities	3,735	6,331	9,122	10,308	10,646	12,888	12,259
Tax payable	483	818	1,446	1,698	1,665	1,203	2,448
Debentures	3,244	4,553	6,680	6,680	4,436	3,436	2,127
	124,562	164,309	208,131	244,003	255,323	293,816	336,758

CAGR - Compounded Annual Growth Rate

 

Bank - Based on Financial Statements Prepared Under LKAS/SLFRS

Year ended December 31, Rs. Mn.	2011	2012	2013	CAGR %
Operating Results
Income	45,860	63,395	73,160	16.85
Interest income	38,356	52,685	62,187	–
Interest expenses	(19,650)	(29,830)	(36,879)	–
Foreign exchange profit	2,322	4,687	1,996	–
Commission and other income	5,182	6,023	8,977	–
Operating expenses and provisions	(15,313)	(19,270)	(21,770)	–
Profit before income tax	10,897	14,295	14,511	10.02
Income tax on profit	(3,014)	(4,197)	(4,065)	–
Net profit for the year	7,883	10,098	10,446	9.84
As at December 31,
Assets
Cash and cash equivalents	12,911	19,733	14,262	–
Balances with central banks	17,343	18,168	18,432	–
Placements with banks	11,674	16,163	4,132	–
Derivative financial instruments	40	1,351	838	–
Other financial assets held-for-trading	6,418	6,041	6,379	–
Loans and receivables to banks	580	629	546	17.18
Loans and receivables to other customers	314,486	372,915	418,960
Financial investments - Available-for-sale	61,415	57,963	123,748	–
Financial investments - Held-to-maturity	–	–	–	–
	424,867	492,963	587,297	–
Investments in subsidiaries	315	303	289	–
Investments in associates	44	44	44	–
Property, plant & equipment	7,907	8,221	8,387	–
Intangible assets	467	497	468	–
Leasehold property	78	77	76	–
Deferred tax assets	360	449	507	–
Other assets	7,291	9,189	9,539	–
Total Assets	441,329	511,743	606,607	11.19
Liabilities
Due to Banks	11,574	4,894	14,194	–
Derivative financial instruments	435	84	1,412	–
Other financial liabilities held-for-trading	–	–	–	–
Due to other customers	323,755	390,612	451,153	11.70
Other borrowings	49,603	47,583	54,173
Debt securities issued	–	–	–	–
Current tax liabilities	1,305	2,802	1,759	–
Deferred tax liabilities	1,594	1,698	2,070	–
Other provisions	1	2	2	–
Other liabilities	8,162	10,363	9,827	–
Due to subsidiaries	30	22	16	–
Subordinated term debts	1,106	1,106	11,057	–
Total Liabilities	397,565	459,166	545,663	–

CAGR - Compounded Annual Growth Rate

Bank - Based on Financial Statements Prepared Under SLAS

Year ended December 31, Rs. Mn.	2004	2005	2006	2007	2008	2009	2010
Shareholders’ Funds
Share capital	2,603	3,327	2,428	10,515	10,548	10,608	10,811
Statutory Reserve Fund	1,009	1,421	1,429	1,634	1,896	2,164	2,472
Reserves	10,299	11,020	11,986	11,788	13,447	15,727	20,019
Total Liabilities and Shareholders’ Funds	138,473	180,077	223,974	267,940	281,214	322,315	370,060
Commitments and contingencies	43,942	47,154	56,418	116,212	115,809	146,072	196,617
Ratios
Return on average shareholders’ funds (%)	13.16	15.93	12.73	20.63	17.13	15.83	17.87
Income growth (%)	22.17	31.00	51.99	43.95	25.25	(0.85)	(5.07)
Return on average assets (%)	1.35	1.48	1.00	1.67	1.55	1.43	1.60
Rate of dividend (%)	60.00	45.00	50.00	–	–	–	–
Dividend per share (Rs.)	–	–	–	7.00	7.00	7.00	7.00
Ordinary share dividend cover (times)	3.48	3.34	2.54	2.29	2.42	2.46	2.09
Gross dividends to ordinary shareholders (Rs. Mn.)	420.00	639.36	714.00	1,743.13	1,745.81	1,751.47	2,642.25
Advances to deposits and refinance (%)	89.52	90.64	92.49	91.75	87.12	70.88	80.97
Property,Plant & Equipment to shareholders’ funds (%)	20.81	20.75	21.33	15.74	15.83	15.38	19.30
Total assets to shareholders’ funds (times)	9.95	11.42	14.14	11.19	10.86	11.31	11.11
Capital funds to liabilities including contingent liabilities (%)	8.26	7.46	6.05	7.87	6.98	6.48	6.26
Cost/Income Ratio (%)	56.78	54.28	61.10	47.87	50.46	56.86	54.69
Liquid assets to liabilities (%)	23.17	24.51	22.64	24.24	24.83	38.80	29.74
(As specified in the Banking Act No. 30 of 1988)
Group Capital Adequacy (%) Tier I	10.78	9.68	7.62	10.60	10.55	11.92	10.86
Tier I & II	13.16	12.08	11.58	13.71	13.13	13.93	12.26
Share Information
Market value of a share (Rs.)	159.75	135.50	190.00	147.00	67.00	189.50	259.90
Earnings per share (Rs.)	2	3	3	5	6	6	7
Price earnings ratio (times)	8	9	15	9	4	11	18
Net assets value per share (Rs.)	19	22	24	30	34	38	44
Earnings yield (%)	13	11	5	11	25	9	6
Dividend payout ratio (%) - Cash	29	30	39	44	41	41	34
Total dividend payout ratio (%)	–	–	–	–	–	–	48
Other Information
Number of employees	2,863	3,168	3,415	3,745	4,041	4,071	4,321
Number of delivery points - Sri Lanka	125	134	150	163	170	172	187
Number of delivery points - Bangladesh	4	5	7	9	11	15	17
Number of automated teller machines	188	223	278	301	346	368	414

 

Bank - Based on Financial Statements Prepared Under LKAS/SLFRS

Year ended December 31, Rs. Mn.	2011	2012	2013	CAGR %
Shareholders’ Funds
Stated capital	16,474	18,009	19,587	–
Statutory reserves	2,890	3,433	4,035	–
Retained earnings	2,547	4,178	4,233	–
Other reserves	21,853	26,957	33,089
Total Liabilities and Shareholders’ Funds	441,329	511,743	606,607	11.19
Commitments and contingencies	234,551	279,593	295,452	–
Ratios
Return on average shareholders’ funds (%)	20.28	20.96	18.40
Income growth (%)	10.45	38.24	15.41
Return on average assets (%)	1.94	2.12	1.87
Rate of dividend (%)	–	–	–
Dividend per share (Rs.)	6.00	6.50	6.50
Ordinary share dividend cover (times)	1.61	1.86	1.89
Gross dividends to ordinary shareholders (Rs. Mn.)	4,904.70	5,421.42	5,519.24
Advances to deposits and refinance (%)	83.30	82.01	77.48
Property, plant & equipment to shareholders’ funds (%)	19.31	16.73	14.65
Total assets to shareholders’ funds (times)	9.92	9.73	9.95
Capital funds to liabilities including contingent liabilities (%)	6.92	7.12	7.25
Cost/income ratio (%)	50.70	47.02	46.32
Liquid assets to liabilities (%)	26.35	25.79	34.05
(As specified in the Banking Act No. 30 of 1988)
Group Capital Adequacy (%) Tier I	12.11	12.63	13.27
Tier I & II	13.01	13.84	16.91
Share Information
Market value of a share (Rs.)	100.00	103.00	120.40
Earnings per share (Rs.)	9	12	12
Price earnings ratio (times)	11	9	10
Net assets value per share (Rs.)	54	63	72
Earnings yield (%)	9	12	10
Dividend payout ratio (%) - Cash	42	37	37
Total dividend payout ratio (%)	62	54	53
Other Information
Number of employees	4,524	4,602	4,730
Number of delivery points - Sri Lanka	213	227	235		15.32
Number of delivery points - Bangladesh	17	17	18
Number of automated teller machines	514	572	604	1.63