BANK | GROUP | |||
For the year ended 31 December | 2020 LKR ’000 |
2019 LKR ’000 |
2020 LKR ’000 |
2019 LKR ’000 |
Profit for the year | 2,388,035 | 2,073,868 | 2,846,785 | 2,300,294 |
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 (FVTOCI) debt instruments]: | ||||
Net change in fair value | 2,563,943 | 2,259,672 | 2,563,943 | 2,259,672 |
Reclassified to income statement | 52,918 | (134,095) | 52,918 | (134,095) |
Share of other comprehensive income/(expenses) of equity accounted joint venture and associate |
– | – | 26,284 | (2,222) |
Movement in hedging reserve: | ||||
Cash flow hedges – effective portion of changes in fair value | (13,622) | (410,906) | (13,622) | (410,906) |
Cash flow hedges – reclassified to income statement | 15,420 | 14,299 | 15,420 | 14,299 |
Related deferred tax | (777,899) | (480,708) | (777,899) | (480,708) |
Total other comprehensive income that are or may be reclassified subsequently to income statement | 1,840,760 | 1,248,262 | 1,867,044 | 1,246,040 |
Items that will not be reclassified to income statement | ||||
Losses on remeasurements of defined benefit liability/(asset) | (37,766) | (32,672) | (36,738) | (32,017) |
Equity investments at fair value through other comprehensive income – Net change in fair value | (1,533,286) | (1,563,978) | (1,533,286) | (1,563,978) |
Share of other comprehensive income of equity accounted joint venture and associate | – | – | 483 | 971 |
Related deferred tax | (26,297) | 23,716 | (26,322) | 23,674 |
Total other comprehensive expenses on items that will not be reclassified to income statement |
(1,597,349) | (1,572,934) | (1,595,863) | (1,571,350) |
Other comprehensive income/(expenses) for the year, net of tax |
243,411 | (324,672) | 271,181 | (325,310) |
Total comprehensive income for the year | 2,631,446 | 1,749,196 | 3,117,966 | 1,974,984 |
Total comprehensive income attributable to: | ||||
Equity holders of the Bank | 2,631,446 | 1,749,196 | 3,016,442 | 1,888,343 |
Non-controlling interests | – | – | 101,524 | 86,641 |
Total comprehensive income for the year | 2,631,446 | 1,749,196 | 3,117,966 | 1,974,984 |
The notes to the financial statements form part of these financial statements.