GROUP | BANK | ||||||
As at December 31, | Note | 2018
Rs. ’000 |
2017 Rs. ’000 |
Change % |
2018
Rs. ’000 |
2017 Rs. ’000 |
Change % |
Assets | |||||||
Cash and cash equivalents | 29 | 44,355,962 | 34,673,424 | 27.92 | 39,534,476 | 33,224,619 | 18.99 |
Balances with Central Banks | 30 | 55,406,535 | 45,546,349 | 21.65 | 54,384,590 | 44,801,446 | 21.39 |
Placements with banks | 31 | 19,898,515 | 17,633,269 | 12.85 | 19,898,515 | 17,633,269 | 12.85 |
Securities purchased under resale agreements | 9,513,512 | – | – | 9,513,512 | – | – | |
Derivative financial assets | 32 | 7,909,962 | 2,334,536 | 238.82 | 7,909,962 | 2,334,536 | 238.82 |
Financial assets recognised through profit or loss/Held for trading – measured at fair value | 33 | 5,520,167 | 4,410,913 | 25.15 | 5,520,167 | 4,410,913 | 25.15 |
Financial assets at amortised cost – Loans and advances to banks | 34 | 763,074 | 640,512 | 19.14 | 763,074 | 640,512 | 19.14 |
Financial assets at amortised cost – Loans and advances to other customers | 35 | 867,611,976 | 742,444,130 | 16.86 | 861,100,315 | 737,446,567 | 16.77 |
Financial assets at amortised cost – Debt and other financial instruments/financial investments – Held to maturity and loans and receivables | 36 | 89,274,413 | 118,078,273 | (24.39) | 83,855,436 | 112,275,229 | (25.31) |
Financial assets measured at fair value through other comprehensive income/financial investments – Available for sale | 37 | 176,760,611 | 154,913,643 | 14.10 | 176,506,729 | 154,714,132 | 14.09 |
Investments in subsidiaries | 38 | – | – | – | 4,263,631 | 3,065,935 | 39.06 |
Investments in associates | 39 | 105,320 | 109,844 | (4.12) | 44,331 | 44,331 | – |
Property, plant and equipment | 40 | 17,015,236 | 16,317,044 | 4.28 | 15,301,246 | 14,634,710 | 4.55 |
Intangible assets | 41 | 1,433,931 | 1,251,226 | 14.60 | 906,112 | 776,810 | 16.65 |
Leasehold property | 42 | 103,064 | 104,516 | (1.39) | 71,652 | 72,594 | (1.30) |
Deferred tax assets | 43 | 188,487 | – | – | – | – | – |
Other assets | 44 | 24,051,472 | 17,362,977 | 38.52 | 23,911,122 | 17,298,162 | 38.23 |
Total assets | 1,319,912,237 | 1,155,820,656 | 14.20 | 1,303,484,870 | 1,143,373,765 | 14.00 | |
Liabilities | |||||||
Due to banks | 45 | 52,362,052 | 60,244,892 | (13.08) | 50,101,081 | 57,120,991 | (12.29) |
Derivative financial liabilities | 46 | 8,021,783 | 3,678,494 | 118.07 | 8,021,783 | 3,678,494 | 118.07 |
Securities sold under repurchase agreements | 48,951,394 | 49,532,385 | (1.17) | 49,104,462 | 49,676,767 | (1.15) | |
Financial liabilities at amortised cost – due to depositors | 47 | 994,370,875 | 857,269,981 | 15.99 | 983,037,314 | 850,127,511 | 15.63 |
Financial liabilities at amortised cost – other borrowings | 48 | 25,361,912 | 23,786,094 | 6.62 | 25,361,912 | 23,786,094 | 6.62 |
Current tax liabilities | 49 | 6,735,997 | 4,202,850 | 60.27 | 6,566,358 | 4,143,911 | 58.46 |
Deferred tax liabilities | 43 | 971,424 | 3,565,215 | (72.75) | 646,248 | 3,274,826 | (80.27) |
Other liabilities | 50 | 24,547,513 | 19,508,115 | 25.83 | 24,206,351 | 19,225,364 | 25.91 |
Due to subsidiaries | 51 | – | – | – | 40,955 | 74,523 | (45.04) |
Subordinated liabilities | 52 | 37,992,457 | 25,165,924 | 50.97 | 37,992,457 | 25,165,924 | 50.97 |
Total liabilities | 1,199,315,407 | 1,046,953,950 | 14.55 | 1,185,078,921 | 1,036,274,405 | 14.36 | |
Equity | |||||||
Stated capital | 53 | 39,147,882 | 37,143,541 | 5.40 | 39,147,882 | 37,143,541 | 5.40 |
Statutory reserves | 55 | 7,444,178 | 6,492,552 | 14.66 | 7,354,143 | 6,476,952 | 13.54 |
Retained earnings | 56 | 4,949,955 | 5,086,609 | (2.69) | 5,063,076 | 4,987,446 | 1.52 |
Other reserves | 57 | 67,855,834 | 59,272,098 | 14.48 | 66,840,848 | 58,491,421 | 14.27 |
Total equity attributable to equity holders of the Bank | 119,397,849 | 107,994,800 | 10.56 | 118,405,949 | 107,099,360 | 10.56 | |
Non-controlling interest | 58 | 1,198,981 | 871,906 | 37.51 | – | – | – |
Total equity | 120,596,830 | 108,866,706 | 10.77 | 118,405,949 | 107,099,360 | 10.56 | |
Total liabilities and equity | 1,319,912,237 | 1,155,820,656 | 14.20 | 1,303,484,870 | 1,143,373,765 | 14.00 | |
Contingent liabilities and commitments | 59 | 658,860,264 | 565,277,821 | 16.56 | 658,721,983 | 564,794,885 | 16.63 |
Net assets value per ordinary share (Rs.) | 60 | 118.13 | 108.44 | 8.94 | 117.15 | 107.54 | 8.94 |
Memorandum information | |||
Number of employees | 5,027 | 4,982 |
|
Number of customer service centres | 285 | 280 |
The Notes appearing on this Annual Report form an integral part of these Financial Statements.
Certification These Financial Statements have been prepared in compliance with requirements of the Companies Act No. 07 of 2007.
K D N Buddhipala
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed for and on behalf of the Board.
K G D D Dheerasinghe Chairman |
M P Jayawardena Deputy Chairman |
S Renganathan Managing Director/Company Secretary |
Mrs J R Gamage Chief Executive Officer |
February 22, 2019
Colombo