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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 |
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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 |
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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 |
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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 |
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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.