Year ended December 31, Rs. Mn. |
2008 | 2009 | 2010 |
Operating Results | |||
Gross Income | 44,115 | 43,741 | 41,522 |
Interest income | 37,188 | 35,925 | 34,740 |
Interest expense | (24,336) | (23,515) | (18,328) |
Foreign exchange profit | 2,633 | 2,962 | 1,741 |
Commission and other income | 4,294 | 4,854 | 5,041 |
Operating expenses and provisions | (12,259) | (13,035) | (13,876) |
Profit before tax | 7,520 | 7,191 | 9,318 |
Income tax expense | (3,252) | (2,887) | (3,794) |
Profit for the year | 4,268 | 4,304 | 5,524 |
As at December 31, Rs. Mn. |
2008 | 2009 | 2010 |
Assets | |||
Cash and short-term funds | 24,115 | 24,057 | 10,557 |
Balances with Central Banks | 10,322 | 11,795 | 12,189 |
Government Treasury Bills, Bonds and other Securities | 51,633 | 96,671 | 114,541 |
Commercial paper | – | – | – |
Securities purchased under resale agreements | 3,400 | 5,203 | 68 |
Dealing securities | 58 | 81 | 283 |
Investments – Held-for-sale | – | – | – |
Investments – Held-to-maturity | 1,197 | 1,025 | 2,366 |
Bills of Exchange | 3,059 | 2,847 | 5,291 |
Lease receivable | 9,484 | 7,794 | 11,019 |
Loans and advances | 167,858 | 161,329 | 200,729 |
271,126 | 310,802 | 357,043 | |
Investments in subsidiaries | 434 | 279 | 354 |
Investments in associates | 44 | 44 | 44 |
Property, plant and equipment and intangible assets | 4,098 | 4,382 | 6,428 |
Other assets | 5,512 | 6,808 | 6,191 |
Total assets | 281,214 | 322,315 | 370,060 |
Liabilities | |||
Deposits from customers | 199,881 | 234,745 | 259,779 |
Dividends payable | – | – | – |
Borrowings | 13,620 | 11,639 | 14,371 |
Securities sold under repurchase agreements | 25,075 | 29,905 | 45,774 |
Other liabilities | 10,646 | 12,888 | 12,259 |
Tax payable | 1,665 | 1,203 | 2,448 |
Debentures | 4,436 | 3,436 | 2,127 |
Total liabilities | 255,323 | 293,816 | 336,758 |
Shareholders’ Funds | |||
Share capital | 10,548 | 10,608 | 10,811 |
Statutory reserve fund | 1,896 | 2,164 | 2,472 |
Reserves | 13,447 | 15,727 | 20,019 |
Total liabilities and shareholders’ funds | 281,214 | 322,315 | 370,060 |
Commitments and contingencies | 115,809 | 146,072 | 196,617 |
Year ended December 31, Rs. Mn. |
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | CAGR % |
Operating Results | ||||||||
Gross Income | 45,860 | 63,395 | 73,736 | 72,753 | 77,868 | 93,143 | 115,594 | 16.66 |
Interest income | 38,356 | 52,685 | 62,764 | 61,832 | 66,030 | 80,738 | 103,034 | |
Interest expense | (19,650) | (29,830) | (36,879) | (34,610) | (35,685) | (47,915) | (64,011) | |
Foreign exchange profit | 2,322 | 4,687 | 1,996 | 1,481 | 2,877 | 2,326 | 588 | |
Commission and other income | 5,182 | 6,023 | 8,976 | 9,440 | 8,961 | 10,079 | 11,972 | |
Operating expenses and Impairment | (15,313) | (19,270) | (22,347) | (22,407) | (25,040) | (25,177) | (28,400) | |
Profit before tax | 10,897 | 14,295 | 14,510 | 15,736 | 17,143 | 20,051 | 23,183 | 13.41 |
Income tax expense | (3,014) | (4,197) | (4,065) | (4,556) | (5,240) | (5,539) | (6,602) | |
Profit for the year | 7,883 | 10,098 | 10,445 | 11,180 | 11,903 | 14,512 | 16,581 | 13.19 |
As at December 31, Rs. Mn. |
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | CAGR % |
Assets | ||||||||
Cash and cash equivalents | 12,911 | 19,733 | 14,262 | 20,592 | 20,044 | 30,194 | 33,225 | |
Balances with central banks | 17,343 | 18,168 | 18,432 | 19,634 | 28,221 | 43,873 | 44,801 | |
Placements with banks | 11,674 | 16,163 | 4,132 | 14,508 | 17,194 | 11,718 | 17,633 | |
Securities purchased under resale agreements | 1,542 | 3,697 | 8,946 | 41,198 | 8,002 | – | – | |
Derivative financial assets | 40 | 1,351 | 838 | 460 | 4,118 | 1,053 | 2,335 | |
Other financial investments – Held for trading | 6,418 | 6,041 | 6,379 | 6,327 | 7,656 | 4,988 | 4,411 | |
Loans and receivables to banks | 580 | 629 | 546 | 551 | 601 | 624 | 641 | 17.06 |
Loans and receivables to other customers | 286,314 | 337,247 | 353,062 | 405,431 | 508,115 | 616,018 | 737,447 | |
Financial investments – Available for sale | 61,415 | 57,963 | 131,757 | 214,208 | 204,244 | 160,023 | 154,714 | |
Financial investments – Held to maturity | – | – | – | – | – | 60,981 | 63,563 | |
Financial investments – Loans and receivables | 26,630 | 31,971 | 48,943 | 50,436 | 57,724 | 51,824 | 48,712 | |
424,867 | 492,963 | 587,297 | 773,345 | 855,919 | 981,296 | 1,107,482 | ||
Investments in subsidiaries | 315 | 303 | 289 | 1,211 | 1,237 | 2,435 | 3,066 | |
Investments in associates | 44 | 44 | 44 | 44 | 44 | 44 | 44 | |
Property, plant and equipment | 7,907 | 8,221 | 8,387 | 9,953 | 9,969 | 10,308 | 14,635 | |
Intangible assets | 467 | 497 | 468 | 439 | 466 | 641 | 777 | |
Leasehold property | 78 | 77 | 76 | 75 | 74 | 74 | 73 | |
Deferred tax assets | 360 | 449 | – | – | – | 964 | - | |
Other assets | 7,291 | 9,189 | 9,426 | 10,543 | 12,096 | 16,439 | 17,297 | |
Total assets | 441,329 | 511,743 | 605,987 | 795,610 | 879,805 | 1,012,201 | 1,143,374 | 17.19 |
Liabilities | ||||||||
Due to banks | 11,574 | 4,894 | 14,194 | 25,261 | 30,319 | 67,609 | 57,121 | |
Derivative financial liabilities | 435 | 84 | 1,412 | 1,193 | 1,891 | 1,515 | 3,678 | |
Securities sold under repurchase agreements | 41,235 | 31,760 | 45,519 | 124,564 | 112,385 | 69,867 | 49,677 | |
Other financial liabilities – Held for trading | – | – | – | – | – | – | - | |
Due to other customers/deposits from customers | 323,755 | 390,612 | 451,153 | 529,361 | 624,102 | 739,563 | 850,128 | 17.46 |
Other borrowings | 8,368 | 15,823 | 8,654 | 11,637 | 9,986 | 9,270 | 23,786 | |
Current tax liabilities | 1,305 | 2,802 | 1,759 | 1,998 | 3,002 | 3,441 | 4,144 | |
Deferred tax liabilities | 1,594 | 1,698 | 1,563 | 2,574 | 231 | – | 3,275 | |
Other provisions | 1 | 2 | 2 | 2 | 2 | 2 | - | |
Other liabilities | 8,162 | 10,363 | 9,827 | 17,444 | 15,547 | 17,710 | 19,225 | |
Due to subsidiaries | 30 | 22 | 16 | 19 | 26 | 20 | 75 | |
Subordinated liabilities | 1,106 | 1,106 | 10,944 | 11,045 | 11,973 | 24,850 | 25,166 | |
Total liabilities | 397,565 | 459,166 | 545,043 | 725,098 | 809,464 | 933,847 | 1,036,275 | |
Equity | ||||||||
Stated capital | 16,474 | 18,009 | 19,587 | 21,458 | 23,255 | 24,978 | 37,144 | |
Statutory reserves | 2,890 | 3,433 | 4,035 | 4,327 | 4,922 | 5,648 | 6,477 | |
Retained earnings | 2,547 | 4,178 | 4,233 | 4,258 | 4,389 | 4,464 | 4,987 | |
Other reserves | 21,853 | 26,957 | 33,089 | 40,469 | 37,775 | 43,264 | 58,491 | |
Total liabilities and equity | 441,329 | 511,743 | 605,987 | 795,610 | 879,805 | 1,012,201 | 1,143,374 | 17.19 |
Contingent liabilities and commitments | 234,551 | 279,593 | 295,452 | 352,453 | 521,232 | 498,305 | 564,795 |
Year ended December 31, | 2008 | 2009 | 2010 |
Ratios | |||
Return on average shareholders’ funds (%) | 17.13 | 15.83 | 17.87 |
Income growth (%) | 25.25 | (0.85) | (5.07) |
Return on average assets (%) | 1.55 | 1.43 | 1.60 |
Dividend per share (Rs.) | 7.00 | 7.00 | 7.00 |
Ordinary share dividend cover (times) | 2.42 | 2.46 | 2.09 |
Advances to deposits and refinance (%) | 87.12 | 70.88 | 80.97 |
Property, plant and equipment to shareholders’ funds (%) | 15.83 | 15.38 | 19.30 |
Total assets to shareholders’ funds (times) | 10.86 | 11.31 | 11.11 |
Capital funds to liabilities including contingent liabilities (%) | 6.98 | 6.48 | 6.26 |
Cost/income ratio (%) | 50.46 | 56.86 | 54.69 |
Liquid assets to liabilities (%) | 24.83 | 38.80 | 29.74 |
(As specified in the Banking Act No. 30 of 1988) | |||
Capital Adequacy – Group (%) Tier 1 ratio | 10.55 | 11.92 | 10.86 |
Total capital ratio | 13.13 | 13.93 | 12.26 |
Share Information | |||
Market value of a share (Rs.) | 67.00 | 189.50 | 259.90 |
Earnings per share (Rs.) | 6 | 6 | 7 |
Price earnings ratio (times) | 4 | 11 | 18 |
Net assets value per share (Rs.) | 34 | 38 | 44 |
Earnings yield (%) | 25 | 9 | 6 |
Dividend payout ratio– Cash (%) | 41 | 41 | 34 |
Total dividend payout ratio (%) | – | – | 48 |
Other Information | |||
Number of employees | 4,041 | 4,071 | 4,321 |
Number of delivery points – Sri Lanka | 170 | 172 | 187 |
Number of delivery points – Bangladesh | 11 | 15 | 17 |
Number of automated teller machines | 346 | 368 | 414 |
Year ended December 31, | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | CAGR % |
Ratios | ||||||||
Return on average shareholders’ funds (%) | 20.28 | 20.96 | 18.40 | 17.01 | 16.90 | 19.52 | 17.88 | |
Income growth (%) | 10.45 | 38.24 | 16.31 | (1.33) | 7.03 | 19.62 | 24.10 | |
Return on average assets (%) | 1.94 | 2.12 | 1.87 | 1.60 | 1.42 | 1.53 | 1.54 | |
Dividend per share (Rs.) | 6.00 | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 | |
Ordinary share dividend cover (times) | 1.61 | 1.86 | 1.89 | 1.99 | 2.09 | 2.25 | 2.56 | |
Advances to deposits and refinance (%) | 83.30 | 82.01 | 77.48 | 75.89 | 80.84 | 82.69 | 86.07 | |
Property, plant and equipment to equity (%) | 19.31 | 16.73 | 14.65 | 14.85 | 14.94 | 14.07 | 14.46 | |
Total assets to equity (times) | 9.92 | 9.73 | 9.94 | 11.28 | 12.51 | 12.92 | 10.68 | |
Capital funds to liabilities including contingent liabilities (%) | 6.92 | 7.12 | 7.25 | 6.54 | 5.29 | 5.47 | 6.69 | |
Cost/income ratio (%) | 50.70 | 47.02 | 45.59 | 49.26 | 48.92 | 51.06 | 49.82 | |
Liquid assets to liabilities (%) | 26.35 | 25.79 | 34.05 | 33.11 | 27.72 | 27.41 | 27.64 | |
(As specified in the Banking Act No. 30 of 1988) | ||||||||
Capital Adequacy – Group (%) Tier 1 ratio | 12.11 | 12.63 | 13.30 | 13.07 | 11.55 | 11.59 | 12.12 | |
Total capital ratio | 13.01 | 13.84 | 16.93 | 16.22 | 14.28 | 16.01 | 15.70 | |
Share Information | ||||||||
Market value of a share (Rs.) | 100.00 | 103.00 | 120.40 | 171.00 | 140.20 | 145.00 | 135.80 | |
Earnings per share (Rs.) | 9 | 12 | 12 | 13 | 13 | 16 | 17 | |
Price earnings ratio (times) | 11 | 9 | 10 | 13 | 10 | 9 | 8 | |
Net assets value per share (Rs.) | 54 | 63 | 72 | 81 | 80 | 88 | 108 | |
Earnings yield (%) | 9 | 12 | 10 | 8 | 10 | 11 | 13 | |
Dividend payout ratio – Cash (%) | 42 | 37 | 37 | 35 | 33 | 28 | 27 | |
Total dividend payout ratio (%) | 62 | 54 | 53 | 50 | 48 | 40 | 39 | |
Other Information | ||||||||
Number of employees | 4,524 | 4,602 | 4,730 | 4,852 | 4,951 | 4,987 | 4,982 | |
Number of delivery points – Sri Lanka | 213 | 227 | 235 | 239 | 246 | 255 | 261 | 3.33 |
Number of delivery points – Bangladesh | 17 | 17 | 18 | 18 | 18 | 19 | 19 | |
Number of automated teller machines | 514 | 572 | 604 | 625 | 640 | 677 | 775 | 7.08 |
CAGR – Compounded Annual Growth Rate