Commercial Bank of Ceylon PLC

Annual Report 2018

Statement of Changes in Equity – Bank

Other reserves
Stated
capital
Statutory
reserve fund
Retained
earnings
Revaluation
reserve
Available- for-sale reserve Fair value
reserve
Foreign currency
translation
reserve
Hedging
reserve
General
reserve
Employee share
option reserve
Total equity
Note Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000
Balance as at January 1, 2017 24,978,003 5,647,890 4,464,077 5,722,859 (7,208,796) 839,346 43,490,003 420,282 78,353,664
Total comprehensive income for the year 2017
Profit for the year 16,581,244 16,581,244
Other comprehensive income, net of tax (529,902) 1,396,663 5,501,302 (525,093) (3,212) 5,839,758
Net actuarial gains/(losses) on defined benefit plans (529,902) (529,902)
Net change in revaluation surplus 1,396,663 1,396,663
Net fair value gains/(losses) on remeasuring financial investments available for sale 5,501,302 5,501,302
Net gains/(losses) arising from translating the Financial Statements of the foreign operation (525,093) (525,093)
Cash flow hedges – effective portion of changes in fair value, net of tax (3,212) (3,212)
Total comprehensive income for the year 2017 16,051,342 1,396,663 5,501,302 (525,093) (3,212) 22,421,002
Transactions with owners, recognised directly in equity, contributions and distributions to owners
Proceeds from right issue of ordinary shares 53 10,143,872 10,143,872
Issue of ordinary shares under employee share option plans 53 386,311 386,311
Transfer o/a share-based payment transactions 53 28,806 (28,806)
Dividends to equity holders 1,606,549 (5,955,851) (4,349,302)
Second interim dividend for 2016 26 (2,674,799) (2,674,799)
Final dividend for 2016 satisfied in the form of issue and allotment of new shares 53 1,606,549 (1,785,054) (178,505)
Unclaimed dividend absorbed/(dividend paid) in respect of previous years (2,279) (2,279)
First interim dividend for 2017 26 (1,493,719) (1,493,719)
Share-based payment transactions 57.6 138,341 138,341
Revaluation gain on disposal of freehold land and building 36,940 (31,468) 5,472
Transfers during the year 55 & 57 829,062 (9,609,062) 8,780,000
Total transactions with equity holders 12,165,538 829,062 (15,527,973) (31,468) 8,780,000 109,535 6,324,694
Balance as at December 31, 2017 37,143,541 6,476,952 4,987,446 7,088,054 (1,707,494) 314,253 (3,212) 52,270,003 529,817 107,099,360
Balance as at December 31, 2017 37,143,541 6,476,952 4,987,446 7,088,054 (1,707,494) 314,253 (3,212) 52,270,003 529,817 107,099,360
Impact of adoption of SLFRS 9 (4,822,089) 1,707,494 (325,420) (3,440,015)
Recognition of SLFRS 9 ECLs including those measured at FVOCI (5,305,558) 194,256 (5,111,302)
Deferred tax on transitional adjustments 1,730,356 (47,775) 1,682,581
Transfer of AFS reserve build o/a reclassification of AFS portfolio to HTM portfolio, net of tax (1,587,069) 1,587,069
Impact of reclassifying financial investment from AFS to FVTPL 340,182 (340,182)
Remeasurement impact of reclassifying financial investment from L&R to FVOCI (11,294) (11,294)
Transfer of AFS reserve to fair value reserve 460,607 (460,607)
Balance as at January 1, 2018 37,143,541 6,476,952 165,357 7,088,054 (325,420) 314,253 (3,212) 52,270,003 529,817 103,659,345
Total comprehensive income for the year 2018
Profit for the year 17,543,828 17,543,828
Other comprehensive income, net of tax 110,285 (1,059,562) 2,557,517 27,231 1,635,471
Net actuarial gains/(losses) on defined benefit plans 107,376 107,376
Realised gain/(loss) from disposal of investment in equity 2,909 2,909
Net change in revaluation surplus
Net fair value gains/(losses) on remeasuring financial assets measured at fair value through other comprehensive income (1,059,562) (1,059,562)
Net gains/(losses) arising from translating the Financial Statements of the foreign operations 2,557,517 2,557,517
Cash flow hedges – effective portion of changes in fair value, net of tax 27,231 27,231
Total comprehensive income for the year 2018 17,654,113 (1,059,562) 2,557,517 27,231 19,179,299
Transactions with owners, recognised directly in equity, contributions and distributions to owners
Issue of ordinary shares under employee share option plans 53 203,083 203,083
Transfer o/a share-based payment transactions 53 6,414 (6,414)
Dividends to equity holders 1,794,844 (6,499,203) (4,704,359)
Second interim dividend for 2017 26 (2,989,996) (2,989,996)
Final dividend for 2017 satisfied in the form of issue and allotment of new shares 53 1,794,844 (1,994,271) (199,427)
Unclaimed dividend absorbed/(dividend paid) in respect of previous years 1,148 1,148
First interim dividend for 2018 26 (1,516,084) (1,516,084)
Share-based payment transactions 57.6 68,581 68,581
Transfers during the year 55 & 57 877,191 (6,257,191) 5,380,000
Total transactions with equity holders 2,004,341 877,191 (12,756,394) 5,380,000 62,167 (4,432,695)
Balance as at December 31, 2018 39,147,882 7,354,143 5,063,076 7,088,054 (1,384,982) 2,871,770 24,019 57,650,003 591,984 118,405,949

The Notes appearing on this Annual Report form an integral part of these Financial Statements.

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