Commercial Bank of Ceylon PLC

Annual Report 2020

Financial Statements

Statement of Financial Position

		GROUP			BANK
As at December 31,	Note	2020 Rs. '000	2019 Rs. '000	Change %	2020 Rs. '000	2019 Rs. '000	Change %
Assets
Cash and cash equivalents	28	51,255,030	53,681,118	(4.52)	50,250,627	52,534,730	(4.35)
Balances with Central Banks	29	115,358,732	46,101,232	150.23	110,971,105	39,461,127	181.22
Placements with banks	30	16,421,867	24,903,809	(34.06)	15,938,982	24,527,241	(35.02)
Securities purchased under resale agreements		-	13,147,534	-	-	13,147,534	-
Derivative financial assets	31	2,636,717	1,830,927	44.01	2,636,717	1,830,927	44.01
Financial assets recognised through profit or loss - measured at fair value	32	35,189,471	21,468,033	63.92	35,189,471	21,468,033	63.92
Financial assets at amortised cost - Loans and advances to banks	33	779,705	757,787	2.89	779,705	757,787	2.89
Financial assets at amortised cost - Loans and advances to other customers	34	909,829,172	893,919,311	1.78	896,845,453	884,645,744	1.38
Financial assets at amortised cost - Debt and other financial instruments	35	302,059,529	107,059,021	182.14	292,727,566	101,144,819	189.41
Financial assets measured at fair value through other comprehensive income	36	278,716,794	197,825,017	40.89	278,461,369	197,568,330	40.94
Investments in subsidiaries	37	-	-	-	5,808,429	5,011,284	15.91
Investment in associate	38	64,155	56,821	12.91	44,331	44,331	-
Property, plant and equipment and right-of-use assets	39	25,386,630	22,524,658	12.71	23,212,394	20,507,203	13.19
Investment properties	40	67,116	46,350	44.80	-	-	-
Intangible assets	41	1,800,516	1,645,714	9.41	1,232,863	1,080,010	14.15
Deferred tax assets	42	2,735,566	530,165	415.98	2,499,860	294,059	750.12
Other assets	43	20,195,153	23,443,869	(13.86)	19,619,149	23,322,247	(15.88)
Total assets		1,762,496,153	1,408,941,366	25.09	1,736,218,021	1,387,345,406	25.15
Liabilities
Due to banks	44	88,248,056	53,807,425	64.01	87,451,306	51,505,694	69.79
Derivative financial liabilities	45	1,501,262	1,495,317	0.40	1,501,262	1,495,317	0.40
Securities sold under repurchase agreements		91,411,522	51,117,342	78.83	91,437,612	51,220,023	78.52
Financial liabilities at amortised cost - due to depositors	46	1,286,616,399	1,068,982,587	20.36	1,265,965,918	1,053,307,660	20.19
Financial liabilities at amortised cost - other borrowings	47	54,555,933	23,248,893	134.66	54,555,933	23,248,893	134.66
Current tax liabilities	48	6,991,005	5,197,188	34.52	6,777,992	4,967,644	36.44
Deferred tax liabilities	42	403,846	416,458	(3.03)	-	-	-
Other liabilities	49	33,572,283	30,775,884	9.09	33,037,669	30,496,709	8.33
Due to subsidiaries	50	-	-	-	97,015	54,292	78.69
Subordinated liabilities	51	38,247,138	37,886,789	0.95	38,247,138	37,886,789	0.95
Total liabilities		1,601,547,444	1,272,927,883	25.82	1,579,071,845	1,254,183,021	25.90
Equity
Stated capital	52	52,187,747	40,916,958	27.55	52,187,747	40,916,958	27.55
Statutory reserves	54	9,285,233	8,387,701	10.70	9,024,065	8,205,391	9.98
Retained earnings	55	8,124,261	5,182,185	56.77	7,596,260	5,144,433	47.66
Other reserves	56	89,595,571	79,937,405	12.08	88,338,104	78,895,603	11.97
Total equity attributable to equity holders of the Bank		159,192,812	134,424,249	18.43	157,146,176	133,162,385	18.01
Non-controlling interest	57	1,755,897	1,589,234	10.49	-	-	-
Total equity		160,948,709	136,013,483	18.33	157,146,176	133,162,385	18.01
Total liabilities and equity		1,762,496,153	1,408,941,366	25.09	1,736,218,021	1,387,345,406	25.15
Contingent liabilities and commitments	58	730,561,685	580,961,807	25.75	728,711,698	579,999,273	25.64
Net assets value per ordinary share (Rs.)	59	136.42	130.83	4.27	134.67	129.60	3.91

Memorandum information
Number of employees					5,057	5,062
Number of customer service centres					287	287

The Notes 1 to 69 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.



Justice K Sripavan Chairman	Prof A K W Jayawardane Deputy Chairman	S Renganathan Managing Director/ Chief Executive Officer	R A P Rajapaksha Company Secretary

February 24, 2021
Colombo