Statutory reserve Other reserves
Stated
capital
LKR ’000
Reserve
fund
LKR ’000
Fair value
reserve
LKR ’000
Hedging
reserve
LKR ’000
General
reserve
LKR ’000
Retained
earnings
LKR ’000
Total
equity
LKR ’000
Bank
Balance as at 1 January 2022 8,600,457 2,746,968 2,096,627 (329,442) 13,779,839 22,091,649 48,986,098
Adjustment on surcharge tax (1,232,490) (1,232,490)
Adjusted balance as at 1 January 2022 8,600,457 2,746,968 2,096,627 (329,442) 13,779,839 20,859,159 47,753,608
Profit for the year 2,513,352 2,513,352
Other comprehensive (expenses)/income, net of tax (3,748,604) 444,849 170,336 (3,133,419)
Total comprehensive
(expenses)/income for the year
(3,748,604) 444,849 2,683,688 (620,067)
Transfers 128,000 (128,000)
Transfer of net gains on disposal of equity investments at fair value through other comprehensive income to retained earnings (180,213) 180,213
Transactions with equity holders of the Bank, recognised
directly in equity
Rights issue 3,620,001 (36,089) 3,583,912
Forfeiture of unclaimed dividends 3,494 3,494
Final dividend for 2021 – Scrip 961,567 (961,567)
Total contributions from and
distribution to equity holders
4,581,568 (994,162) 3,587,406
Balance as at 31 December 2022 13,182,025 2,874,968 (1,832,190) 115,407 13,779,839 22,600,898 50,720,947
Balance as at 1 January 2023 13,182,025 2,874,968 (1,832,190) 115,407 13,779,839 22,600,898 50,720,947
Profit for the year 7,219,702 7,219,702
Other comprehensive
income/(expenses), net of tax
9,181,221 1,238,439 (503,798) 9,915,862
Total comprehensive income for the year 9,181,221 1,238,439 6,715,904 17,135,564
Transfers 365,000 (365,000)
Transfer of net gains on disposal of equity investments at fair value through other comprehensive income to retained earnings (98,632) 98,632
Transactions with equity holders
of the Bank, recognised directly in equity
Forfeiture of unclaimed dividends 5,255 5,255
Final dividend for 2022 – Scrip 684,532 (805,332) (120,800)
Total contributions from and
distribution to equity holders
684,532 (800,077) (115,545)
Balance as at 31 December 2023 13,866,557 3,239,968 7,250,399 1,353,846 13,779,839 28,250,357 67,740,966

The notes to the financial statements form part of these financial statements.

Attributable to the equity holders of the Bank
Statutory reserve Other reserves
Stated
capital


LKR ’000
Reserve
fund


LKR ’000
Fair value
reserve


LKR ’000
Exchange
equalisation
reserve

LKR ’000
Hedging
reserve


LKR ’000
General
reserve


LKR ’000
Retained
earnings


LKR ’000
Total



LKR ’000
Non-
controlling
interests

LKR ’000
Total



LKR ’000
Group
Balance as at 1 January 2022 8,600,457 2,746,968 655,255 163,201 (329,442) 13,779,839 25,831,589 51,447,867 317,158 51,765,025
Adjustment on surcharge tax (1,274,906) (1,274,906) (34,986) (1,309,892)
Adjusted balance at
1 January 2022
8,600,457 2,746,968 655,255 163,201 (329,442) 13,779,839 24,556,683 50,172,961 282,172 50,455,133
Profit for the year 2,932,475 2,932,475 109,436 3,041,911
Other comprehensive
(expenses)/income, net of tax
(3,737,559) 659,381 226,385 173,556 (2,678,237) 342 (2,677,895)
Total comprehensive
(expenses)/income for the year
(3,737,559) 659,381 226,385 3,106,031 254,238 109,778 364,016
Transfers 128,000 (128,000)
Transfer of net gains on disposal of equity investments at fair value through other comprehensive income to retained earnings (191,258) 191,258
Transactions with equity holders
of the Bank, recognised directly in equity
Rights issue 3,620,001 (36,089) 3,583,912 3,583,912
Forfeiture of unclaimed dividends 3,494 3,494 3,494
Change in holding through joint venture 47 47 47
Final dividend for 2021 – Scrip 961,567 (961,567)
Dividend distributed to non-controlling interest by subsidiaries (85,800) (85,800)
Total contributions from and distribution to equity holders 4,581,568 (994,115) 3,587,453 (85,800) 3,501,653
Balance as at 31 December 2022 13,182,025 2,874,968 (3,273,562) 822,582 (103,057) 13,779,839 26,731,857 54,014,652 306,150 54,320,802
Balance as at 1 January 2023 13,182,025 2,874,968 (3,273,562) 822,582 (103,057) 13,779,839 26,731,857 54,014,652 306,150 54,320,802
Profit for the year 8,485,146 8,485,146 173,393 8,658,539
Other comprehensive
income/(expenses), net of tax
9,190,985 (261,511) 1,174,854 (506,474) 9,597,854 366 9,598,220
Total comprehensive
income/(expenses) for the year
9,190,985 (261,511) 1,174,854 7,978,672 18,083,000 173,759 18,256,759
Transfers 365,000 (365,000)
Transfer of net gains on disposal of equity investments at fair value through other comprehensive income to retained earnings (98,632) 98,632
Transactions with equity holders of the Bank, recognised directly in equity
Forfeiture of unclaimed dividends 5,255 5,255 5,255
Change in holding through
joint venture
1,506 1,506 1,506
Final dividend for 2022 – Scrip 684,532 (805,332) (120,800) (120,800)
Dividend distributed to non-controlling interest by subsidiaries (87,750) (87,750)
Total contributions from and distribution to equity holders 684,532 (798,571) (114,039) (87,750) (201,789)
Balance as at 31 December 2023 13,866,557 3,239,968 5,818,791 561,071 1,071,797 13,779,839 33,645,590 71,983,613 392,159 72,375,772

In the previous year, the share of other comprehensive income attributable to equity-accounted investees, net of tax which associated with cash flow hedge activities, was recorded under the exchange equalisation reserve. However, from the current year, these amounts are now specifically recorded in the cash flow hedge reserve for improved financial statement presentation.

The notes to the financial statements form part of these financial statements.