Commercial Bank of Ceylon PLC

Annual Report 2020

Supplementary Information

Annex 7: Decade at a Glance

LKASs and SLFRSs
As at December 31, Rs. Mn. CAGR % 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Assets
Cash and cash equivalents 50,251 52,535 39,534 33,225 30,194 20,044 20,592 14,262 19,733 12,911
Balances with Central Banks 110,971 39,461 54,385 44,801 43,873 28,221 19,634 18,432 18,168 17,343
Placements with banks 15,939 24,527 19,899 17,633 11,718 17,194 14,508 4,132 16,163 11,674
Securities purchased under resale agreements - 13,148 9,514 - - 8,002 41,198 8,946 3,697 1,542
Derivative financial assets 2,637 1,831 7,910 2,335 1,053 4,118 460 838 1,351 40
Other financial instruments - Held for trading - - - 4,411 4,988 7,656 6,327 6,379 6,041 6,418
Financial assets recognised through profit or loss - Measured at fair value 35,189 21,468 5,520 - - - - - - -
Loans and receivables to banks 13.51 - - - 641 624 601 551 546 629 580
Financial assets at amortised cost - Loans and advances to banks 780 758 763 - - - - - - -
Loans and receivables to other customers - - - 737,447 616,018 508,115 405,431 353,062 337,247 286,314
Financial assets at amortised cost - Loans and advances to other customers 896,845 884,646 861,100 - - - - - - -
Financial investments - Held to maturity - - - 63,563 60,981 - - - - -
Financial investments - Loans and receivables - - - 48,712 51,824 57,724 50,436 48,943 31,971 26,630
Financial assets at amortised cost - Debt and other financial instruments 292,728 101,145 83,855 - - - - - - -
Financial investments - Available for sale - - - 154,714 160,023 204,244 214,208 131,757 57,963 61,415
Financial assets measured at fair value through other comprehensive income 278,461 197,568 176,507 - - - - - - -
Total financial assets 1,683,801 1,337,087 1,258,987 1,107,482 981,296 855,919 773,345 587,297 492,963 424,867
Investments in subsidiaries 5,808 5,011 4,264 3,066 2,435 1,237 1,211 289 303 315
Investment in associate 44 44 44 44 44 44 44 44 44 44
Property, plant & equipment and right-of-use assets 23,212 20,507 15,301 14,635 10,308 9,969 9,953 8,387 8,221 7,907
Intangible assets 1,233 1,080 906 777 641 466 439 468 497 467
Leasehold property - - 72 73 74 74 75 76 77 78
Deferred tax assets 2,500 294 - - 964 - - - 449 360
Other assets 19,620 23,323 23,911 17,297 16,439 12,096 10,543 9,426 9,189 7,291
Total assets 16.44 1,736,218 1,387,346 1,303,485 1,143,374 1,012,201 879,805 795,610 605,987 511,743 441,329
Liabilities
Due to banks 87,451 51,506 50,101 57,121 67,609 30,319 25,261 14,194 4,894 11,574
Derivative financial liabilities 1,501 1,495 8,022 3,678 1,515 1,891 1,193 1,412 84 435
Securities sold under repurchase agreements 91,438 51,220 49,104 49,677 69,867 112,385 124,564 45,519 31,760 41,235
Due to other customers/deposits from customers 16.36 - - - 850,128 739,563 624,102 529,361 451,153 390,612 323,755
Financial liabilities at amortised cost - due to depositors 1,265,966 1,053,308 983,037 - - - - - - -
Other borrowings - - - 23,786 9,270 9,986 11,637 8,654 15,823 8,368
Financial liabilities at amortised cost - other borrowings 54,556 23,249 25,362 - - - - - - -
Current tax liabilities 6,778 4,968 6,566 4,144 3,441 3,002 1,998 1,759 2,802 1,305
Deferred tax liabilities - - 646 3,275 - 231 2,574 1,563 1,698 1,594
Other provisions - - - - 2 2 2 2 2 1
Other liabilities 33,038 30,497 24,208 19,225 17,710 15,547 17,444 9,827 10,363 8,162
Due to subsidiaries 97 54 41 75 20 26 19 16 22 30
Subordinated liabilities 38,247 37,887 37,992 25,166 24,850 11,973 11,045 10,944 1,106 1,106
Total liabilities 1,579,072 1,254,184 1,185,079 1,036,275 933,847 809,464 725,098 545,043 459,166 397,565
Equity
Stated capital 52,188 40,917 39,148 37,144 24,978 23,255 21,458 19,587 18,009 16,474
Statutory reserves 9,024 8,205 7,354 6,477 5,648 4,922 4,327 4,035 3,433 2,890
Retained earnings 7,596 5,144 5,063 4,987 4,464 4,389 4,258 4,233 4,178 2,547
Other reserves 88,338 78,896 66,841 58,491 43,264 37,775 40,469 33,089 26,957 21,853
Total liabilities and equity 16.44 1,736,218 1,387,346 1,303,485 1,143,374 1,012,201 879,805 795,610 605,987 511,743 441,329
Contingent liabilities and commitments 728,712 579,999 658,722 564,795 498,305 521,232 352,453 295,452 279,593 234,551

CAGR - Compounded Annual Growth Rate

LKASs and SLFRSs
For the year ended December 31, Rs. Mn. CAGR % 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Operating results
Gross income 14.05 149,711 148,706 138,049 114,357 93,143 77,868 72,753 73,736 63,395 45,860
Interest income 122,330 127,780 117,466 103,034 80,738 66,030 61,832 62,764 52,685 38,356
Interest expense (72,759) (80,571) (72,524) (64,011) (47,915) (35,685) (34,610) (36,879) (29,830) (19,650)
Foreign exchange profit 8,338 6,726 7,900 588 2,326 2,877 1,481 1,996 4,687 2,322
Commission and other income 17,031 12,082 12,683 10,735 10,079 8,961 9,440 8,976 6,023 5,182
Operating expenses and impairment (51,429) (43,678) (39,934) (28,400) (25,177) (25,040) (22,407) (22,347) (19,270) (15,313)
Profit before tax 8.92 23,511 22,339 25,591 23,183 20,051 17,143 15,736 14,510 14,295 10,897
Income tax expense (7,138) (5,314) (8,047) (6,602) (5,539) (5,240) (4,556) (4,065) (4,197) (3,014)
Profit for the year 8.46 16,373 17,025 17,544 16,581 14,512 11,903 11,180 10,445 10,098 7,883
Ratios
Return on average-shareholders' funds (%) 11.28 13.54 15.56 17.88 19.52 16.90 17.01 18.40 20.96 20.28
Income growth (%) 0.68 7.72 20.72 24.10 19.62 7.03 0.96 16.31 38.24 10.45
Return on average assets (%) 1.05 1.27 1.43 1.54 1.53 1.42 1.60 1.87 2.12 1.94
Ordinary share dividend cover (times) 2.34 2.55 2.67 2.62 2.25 2.09 1.99 1.89 1.86 1.61
Advances to deposits and refinance (%) 72.96 86.74 86.96 86.07 82.69 80.84 75.89 77.48 82.01 83.30
Property, plant and equipment to shareholders' funds (%) 15.56 16.21 13.75 14.46 14.07 14.94 14.85 14.65 16.73 19.31
Total assets to shareholders' funds (times) 11.05 10.42 11.01 10.68 12.92 12.51 11.28 9.94 9.73 9.92
Capital funds to liabilities including contingent liabilities (%) 6.81 7.26 6.42 6.69 5.47 5.29 6.54 7.25 7.12 6.92
Cost/income ratio (%) 39.96 49.41 46.35 51.08 51.06 48.92 49.26 45.59 47.02 50.70
Liquid assets ratio - Domestic Banking Unit (DBU) (%) 44.99 30.42 24.47 27.28 27.19 26.24 33.15 33.66 25.40 25.70
Liquid assets ratio - Offshore Banking Centre (OBC) (%) 32.70 25.25 30.20 30.95 30.19 49.13 31.43 29.38 34.16 27.77
(As specified in the Banking Act No. 30 of 1988)
Group capital adequacy (%) Tier I N/A N/A N/A N/A 11.59 11.55 13.07 13.30 12.63 12.11
Tier I & II N/A N/A N/A N/A 16.01 14.28 16.22 16.93 13.84 13.01
Group capital adequacy (%) (under Basel III)
Common equity Tier I capital ratio 13.36 12.40 11.43 12.12 - - - - - -
Tier I capital ratio 13.36 12.40 11.43 12.12 - - - - - -
Total capital ratio 16.88 16.18 15.62 15.70 - - - - - -
Share information

Market value of a voting ordinary share (Rs.)

 80.90 95.00 115.00 135.80 145.00 140.20 171.00 120.40 103.00 100.00

Earnings per share (Rs.)

 15 17 17 17 16 13 13 12 12 9

Dividend per share (Rs.)

 6.50 6.50 6.50 6.50 6.50 6.50 6.50 6.50 6.50 6.00
Price earnings ratio (times) 5 5 7 8 9 10 13 10 9 11
Net assets value per share (Rs.) 135 130 117 108 88 80 81 72 63 54
Earnings yield (%) 19 17 15 13 11 10 8 10 12 9
Gross Dividends (Rs. Bn.) to ordinary shareholders 7.59 6.68 6.57 6.48 5.77 5.70 5.70 5.52 5.42 4.90
Dividend payout ratio (%) - Cash 32 27 26 26 28 33 35 37 37 42
Total dividend payout ratio (%) 46 39 37 38 40 48 50 53 54 62
Other information
Number of employees 5,057 5,062 5,027 4,982 4,987 4,951 4,852 4,730 4,602 4,524
Number of delivery points - Sri Lanka 2.49 268 268 266 261 255 246 239 235 227 213
Number of delivery points - Bangladesh 19 19 19 19 19 18 18 18 17 17
Number of automated teller machines 6.50 906 885 850 775 677 640 625 604 572 514

CAGR - Compounded Annual Growth Rate

 

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