BANK | GROUP | |||
For the year ended 31 December | 2019 LKR ’000 |
2018 LKR ’000 |
2019 LKR ’000 |
2018 LKR ’000 |
Profit for the year | 2,073,868 | 2,768,179 | 2,300,294 | 3,070,227 |
Other comprehensive income/(expenses) for the year, net of tax | ||||
Items that are or may be reclassified subsequently to income statement | ||||
Movement in fair value reserve (fair value through other comprehensive income debt instruments): | ||||
Net change in fair value | 2,259,672 | (1,371,412) | 2,259,672 | (1,371,412) |
Reclassified to income statement | (134,095) | (1,649) | (134,095) | (1,649) |
Share of other comprehensive (expenses)/income of equity accounted associate and joint venture | – | – | (2,222) | 39,721 |
Movement in hedging reserve: | ||||
Cash flow hedges – effective portion of changes in fair value | (410,906) | 892,967 | (410,906) | 892,967 |
Cash flow hedges – reclassified to income statement | 14,299 | (809,400) | 14,299 | (809,400) |
Related deferred tax | (480,708) | 361,154 | (480,708) | 361,154 |
Total other comprehensive income/(expenses)
that are or may be reclassified subsequently to income statement |
1,248,262 | (928,340) | 1,246,040 | (888,619) |
Items that will not be reclassified to income statement | ||||
Losses on remeasurements of defined benefit liability /(asset) | (32,672) | (11,881) | (32,017) | (11,765) |
Equity investments at fair value through other comprehensive income – Net change in fair value | (1,563,978) | (1,951,466) | (1,563,978) | (1,951,466) |
Share of other comprehensive income of equity accounted associate and joint venture | – | – | 971 | 1,189 |
Related deferred tax | 23,716 | 9,215 | 23,674 | 9,141 |
Total other comprehensive expenses on items that will not be reclassified to income statement | (1,572,934) | (1,954,132) | (1,571,350) | (1,952,901) |
Other comprehensive expenses for the year, net of tax | (324,672) | (2,882,472) | (325,310) | (2,841,520) |
Total comprehensive income/(expenses) for the year | 1,749,196 | (114,293) | 1,974,984 | 228,707 |
Total comprehensive income/(expenses) attributable to: | ||||
Equity holders of the Bank | 1,749,196 | (114,293) | 1,888,343 | 169,355 |
Non-controlling interests | – | – | 86,641 | 59,352 |
Total comprehensive income/(expenses) for the year | 1,749,196 | (114,293) | 1,974,984 | 228,707 |
The notes to the financial statements form part of these financial statements.
BANK | GROUP | ||||
As at 31 December | Notes | 2019 LKR ’000 |
2018 LKR ’000 |
2019 LKR ’000 |
2018 LKR ’000 |
Assets | |||||
Cash and cash equivalents | 26 | 5,450,209 | 5,039,629 | 5,459,359 | 5,049,823 |
Balances with Central Bank of Sri Lanka | 27 | 8,666,547 | 11,841,814 | 8,666,547 | 11,841,814 |
Placements with banks | 28 | 165,030 | 425,087 | 200,441 | 439,727 |
Derivative financial assets | 29 | 631,438 | 3,414,549 | 631,438 | 3,414,549 |
Financial assets measured at fair value through profit or loss | 30 | 5,307,066 | 6,078,862 | 5,307,066 | 6,078,862 |
Financial assets at amortised cost – Loans to and receivables from banks |
31 | 8,403,175 | 12,854,880 | 8,403,175 | 12,854,880 |
Financial assets at amortised cost – Loans to and receivables from other customers |
32 | 272,818,311 | 249,733,718 | 272,818,311 | 249,733,718 |
Financial assets at amortised cost – Debt and other instruments |
33 | 21,743,857 | 22,874,088 | 21,743,857 | 22,874,088 |
Financial assets measured at fair value through other comprehensive income | 34 | 72,716,407 | 55,313,553 | 72,716,407 | 55,313,553 |
Investments in subsidiaries | 35 | 187,436 | 167,036 | – | – |
Investments in associate | 36 | 35,270 | 35,270 | 31,293 | 31,107 |
Investments in joint venture | 37 | 755,000 | 755,000 | 2,065,116 | 1,957,455 |
Investment property | 38 | 9,879 | 9,879 | 466,977 | 496,559 |
Property, plant and equipment | 39 | 3,230,843 | 1,620,375 | 3,312,641 | 1,718,904 |
Intangible assets and goodwill | 40 | 1,184,659 | 668,834 | 1,362,149 | 842,514 |
Deferred tax asset | 41 | 308,853 | 491,523 | 314,029 | 492,678 |
Other assets | 42 | 3,283,300 | 3,583,781 | 3,372,786 | 3,621,780 |
Asset held for sale | 43 | – | – | 40,000 | – |
Total assets | 404,897,280 | 374,907,878 | 406,911,592 | 376,762,011 | |
Liabilities | |||||
Due to banks | 44 | 24,594,828 | 9,446,464 | 24,594,828 | 9,446,464 |
Derivative financial liabilities | 29 | 518,731 | 121,373 | 518,731 | 121,373 |
Financial liabilities at amortised cost – Due to depositors |
45 | 247,786,974 | 242,237,596 | 247,457,696 | 241,914,870 |
Financial liabilities at amortised cost – Due to other borrowers |
46 | 47,307,556 | 47,413,727 | 47,307,556 | 47,388,679 |
Debt securities in issue | 47 | 14,148,198 | 8,898,441 | 14,148,198 | 8,898,441 |
Retirement benefit obligation | 48 | 561,104 | 408,704 | 586,351 | 433,315 |
Current tax liabilities | 49 | 581,269 | 1,221,117 | 648,178 | 1,294,540 |
Deferred tax liability | 41 | – | – | 96,714 | 90,402 |
Other liabilities | 50 | 5,059,187 | 4,458,721 | 5,266,934 | 4,662,423 |
Subordinated term debt | 51 | 16,859,914 | 16,855,352 | 16,859,914 | 16,855,352 |
Total liabilities | 357,417,761 | 331,061,495 | 357,485,100 | 331,105,859 | |
Equity | |||||
Stated capital | 52 | 7,530,371 | 4,715,814 | 7,530,371 | 4,715,814 |
Statutory reserve | 53 | 2,461,968 | 2,358,275 | 2,461,968 | 2,358,275 |
Retained earnings | 54 | 18,228,086 | 17,187,262 | 21,278,288 | 20,107,150 |
Other reserves | 55 | 19,259,094 | 19,585,032 | 17,892,900 | 18,216,689 |
Total equity attributable to equity holders of the Bank | 47,479,519 | 43,846,383 | 49,163,527 | 45,397,928 | |
Non-controlling interests | 56 | – | – | 262,965 | 258,224 |
Total equity | 47,479,519 | 43,846,383 | 49,426,492 | 45,656,152 | |
Total equity and liabilities | 404,897,280 | 374,907,878 | 406,911,592 | 376,762,011 | |
Contingent liabilities and commitments | 57 | 130,590,400 | 137,143,668 | 130,590,400 | 137,143,668 |
Net asset value per share, LKR | 156.09 | 165.40 | 161.62 | 171.25 |
The notes to the financial statements form part of these financial statements.