BANK GROUP
As at 31 December
Note
2023
LKR ’000
2022
LKR ’000
2023
LKR ’000
2022
LKR ’000
Assets
Cash and cash equivalents 25 14,478,468 16,122,565 14,483,062 16,126,635
Balances with Central Bank of Sri Lanka 26 2,107,776 9,030,868 2,107,776 9,030,868
Placements with banks 27 29,138,098 15,224,692 29,173,988 15,242,493
Derivative financial assets 28 16,499,171 20,473,544 16,499,171 20,473,544
Financial assets measured at fair value
through profit or loss
29 1,740,928 1,429,149 1,740,928 1,429,149
Financial assets at amortised cost – Loans to and receivables from other customers 30 348,767,466 369,072,030 348,767,466 369,072,030
Financial assets at amortised cost – Debt and other instruments 31 68,031,313 50,947,926 68,094,041 50,947,926
Financial assets measured at fair value
through other comprehensive income
32 134,902,765 63,319,060 134,902,765 63,319,060
Investments in subsidiaries 33 237,035 237,035
Investment in associate 34 33,169 33,169 36,844 35,394
Investment in joint venture 35 755,000 755,000 4,402,238 3,577,701
Investment property 36 9,879 9,879 468,385 439,973
Property, plant and equipment 37 3,499,737 3,198,553 3,704,411 3,389,441
Intangible assets and goodwill 38 1,926,287 2,198,042 2,101,256 2,375,055
Deferred tax assets 39 5,407,626 4,137,828 5,415,426 4,143,535
Other assets 40 12,963,406 9,750,568 13,170,641 9,933,670
Total assets 640,498,124 565,939,908 645,068,398 569,536,474
Liabilities
Due to banks 41 52,793,464 15,857,994 52,793,464 15,857,994
Derivative financial liabilities 28 381,653 84,670 381,653 84,670
Financial liabilities at amortised cost – Due to depositors 42 407,225,313 370,314,026 406,584,864 369,746,855
Financial liabilities at amortised cost – Due to other borrowers 43 72,022,734 81,145,692 72,022,734 81,145,692
Debt securities in issue 44 16,311,577 16,304,115 16,311,577 16,304,115
Employee benefits 45 1,371,126 591,550 1,400,921 615,849
Current tax liabilities 46 4,426,683 2,479,562 4,535,557 2,575,008
Deferred tax liabilities 39 104,276 149,608
Other liabilities 47 9,152,343 10,041,361 9,485,315 10,335,890
Subordinated term debt 48 9,072,265 18,399,991 9,072,265 18,399,991
Total liabilities 572,757,158 515,218,961 572,692,626 515,215,672
Equity
Stated capital 50 13,866,557 13,182,025 13,866,557 13,182,025
Statutory reserve 51 3,239,968 2,874,968 3,239,968 2,874,968
Retained earnings 52 28,250,357 22,600,898 33,645,590 26,731,857
Other reserves 53 22,384,084 12,063,056 21,231,498 11,225,802
Total equity attributable to
equity holders of the Bank
67,740,966 50,720,947 71,983,613 54,014,652
Non-controlling interests 54 392,159 306,150
Total equity 67,740,966 50,720,947 72,375,772 54,320,802
Total equity and liabilities 640,498,124 565,939,908 645,068,398 569,536,474
Contingent liabilities and commitments 55 193,992,770 169,132,507 193,992,770 169,132,507
Net assets value per share, LKR 160.54 125.96 170.60 134.14

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

I certify that these financial statements comply with the requirements of the Companies Act No. 07 of 2007.

Chinthika Amarasekara
Chief Financial Officer

The Board of Directors is responsible for the preparation of these financial statements.

For and on behalf of the Board of Directors,

J Durairatnam
Chairman


Thimal Perera
Director/Chief Executive Officer

Colombo
19 February 2024