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.