Annual Report 2019

Highlights

Group Based on SLFRS 9 Based on LKAS 39
LKR Mn Year ended 31 December 2019 Year ended 31 December 2018 Year ended 31 December 2017 Year ended 31 December 2016 Year ended 31 December 2015
Operating Results
Total income 43,648 39,448 35,987 26,980 17,503
Profit before tax 3,308 4,676 5,891 4,674 2,553
Tax expense 1,008 1,606 1,458 1,205 912
Profit attributable to equity holders of the Bank 2,214 3,011 4,362 3,415 1,592
Statement of Financial Position
Assets
Cash and short-term funds 14,326 17,331 21,390 13,824 9,870
Loans to and receivables from banks and
other customers		 281,221 262,589 224,660 198,085 164,945
Other financial assets 99,768 87,681 80,751 72,584 67,060
Investments in associate and joint venture 2,096 1,989 1,684 1,443 1,248
Other assets 9,500 7,172 5,983 5,278 3,986
Total assets 406,911 376,762 334,468 291,214 247,109
Liabilities
Due to depositors 247,458 241,915 192,920 140,220 110,551
Due to other borrowers 102,910 82,589 84,578 97,276 87,381
Other liabilities 7,117 6,602 7,568 6,660 5,208
Total liabilities 357,485 331,106 285,066 244,156 203,140
Equity
Total equity attributable to equity holders of the Bank 49,163 45,398 49,125 46,850 43,716
Non-controlling interests 263 258 277 260 253
Total equity and liabilities 406,911 376,762 334,468 291,266 247,109
Return on equity, %* 5.32 7.70 12.08 10.3 5.6
Return on total assets, %* 0.59 0.88 1.47 1.4 0.8
Earnings per share, LKR 7.62 11.36 16.45 12.88 6.01
Net asset value per share, LKR 184.45 171.25 185.31 176.73 164.90
Capital adequacy
Core capital ratio – – – 14.60 15.39
Total capital ratio – – – 17.47 15.32
Common equity Tier I Capital ratio, % (Basel III) 11.33 10.89 13.09 – –
Tier I capital ratio, % (Basel III) 11.33 10.89 13.09 – –
Total capital ratio, % (Basel III) 15.78 16.17 16.53 – –

* After eliminating fair value reserve.

Extended reach

Launch of DFCC MySpace, a bespoke, digital space for self-banking

20 branches opened islandwide within 30 days, a milestone in the Bank’s history

Expanded learning culture

LKR 34.6 Mn invested in training and development

421 in house training programmes

Over 103,000 hours of training

18% growth in usage of the e-learning platform

Post-training assessments conducted for over 80% of programmes

A recognised brand

  • Launch of the “Bank for Everyone” corporate campaign enhanced awareness that DFCC Bank is a full-service commercial bank catering to varied market segments
  • Placed 25th in Brand Finance Top 100 Most Valuable Brands, 2019
  • Ranked 18th amongst Business Today’s Top 30 businesses in Sri Lanka
  • Ranked 30 in LMD’s Top 100 (2018/19) by LMD Magazine in 2019
  • The title sponsor for DFCC Bank Cup 2019: New Zealand Cricket Tour of Sri Lanka, for the first time in DFCC Bank’s history

Reinvigorated offering

Launch of DFCC Winner savings account

Revamping of DFCC Virtual Wallet and Corporate Website

Launch of DFCC Personal Loan Delivery

Intrinsically connected with sustainability

Samata English expanded its reach and carried out programmes in Jaffna, Polonnaruwa, Ampara, and Ratnapura

Sahaya Hamuwa: 18 workshops were conducted during 2019 with a participation of 3,000 entrepreneurs

7,000 trees were planted under the annual tree planting campaign in different locations in Sri Lanka

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