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 |