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GROUP LKR Mn |
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Year ended 31 December | 2023 | 2022 | 2021 | 2020 | 2019 |
Operating Results | |||||
Total income | 107,442 | 75,471 | 43,029 | 43,604 | 43,648 |
Profit before tax | 12,508 | 3,112 | 4,859 | 3,944 | 3,308 |
Tax expense | 3,850 | 70 | 1,194 | 1,097 | 1,008 |
Profit attributable to equity holders of the bank | 8,485 | 2,932 | 3,549 | 2,745 | 2,214 |
Statement of Financial Position | |||||
Assets | |||||
Cash and short-term funds | 45,765 | 40,400 | 26,383 | 28,063 | 14,326 |
Loans to and receivables from banks and other customers | 348,767 | 369,072 | 365,901 | 306,062 | 272,818 |
Financial investments | 204,738 | 115,696 | 81,226 | 120,932 | 108,171 |
Investments in associate and joint venture | 4,439 | 3,613 | 2,840 | 2,481 | 2,096 |
Other assets | 41,359 | 40,755 | 11,907 | 9,829 | 9,500 |
Total assets | 645,068 | 569,536 | 488,257 | 467,367 | 406,911 |
Liabilities | |||||
Due to depositors | 406,585 | 369,746 | 319,362 | 309,566 | 247,458 |
Due to other borrowers | 150,200 | 131,707 | 107,623 | 97,406 | 102,910 |
Other liabilities | 15,908 | 13,762 | 9,507 | 8,686 | 7,117 |
Total liabilities | 572,693 | 515,215 | 436,492 | 415,658 | 357,485 |
Equity | |||||
Total equity attributable to equity holders of the bank | 71,984 | 54,015 | 51,448 | 51,426 | 49,163 |
Non-controlling interests | 392 | 306 | 317 | 283 | 263 |
Total equity and liabilities | 645,068 | 569,536 | 488,257 | 467,367 | 406,911 |
Return on equity (Profit after tax) (%)* | 13.95 | 5.60 | 7.45 | 6.16 | 5.32 |
Return on total assets (Profit before tax) (%)* | 2.06 | 0.59 | 1.02 | 0.91 | 0.59 |
Earnings per share (LKR) | 20.3 | 7.88 | 11.17 | 9.00 | 7.62 |
Net asset value per share (LKR) | 170.60 | 134.14 | 160.51 | 168.06 | 161.62 |
Common Equity Tier I capital ratio (%) (Basel III) | 12.46 | 9.94 | 9.28 | 10.82 | 11.33 |
Tier I capital ratio (%) (Basel III) | 12.46 | 9.94 | 9.28 | 10.82 | 11.33 |
Total capital ratio (%) (Basel III) | 14.48 | 12.99 | 13.00 | 15.75 | 15.78 |
*After eliminating fair value reserve.
DFCC was accredited by the Green Climate Fund enabling the financing of climate friendly products in Sri Lanka.
Launch of “Aduwenakota Aduwena” leasing product which encourages customers who would otherwise have been deterred by declining interest rates, take on leases.
Introduction of structured housing loans which gives the customer several repayment options.
Launch of the “Ethera Saviya” scheme for migrant workers.
DFCC investment planner was introduced, which caters to customers’ long-term financial needs.
The SME agriculture sector recorded robust performance.
The Payments and Cash management proposition and the electronic banking platform iConnect was voted Market Leader for the third consecutive year by Euromoney Magazine.
Our business has entered new markets such as Italy, Cyprus, Hong Kong, Australia and the U.K.
The Bank acquired over 800,000 new customers during the year
Over 85,000 training hours were delivered to over 24,000 staff participants.
“Flourish Beyond” Programme introduced for senior citizens to enhance their physical and cognitive capabilities.
The Samata English programme was conducted in three districts benefitting 81 students.
Community Kitchen Programmes were conducted in 11 districts serving over 4,500 people.
Dry rations packs were distributed to over 800 families affected by floods.
A rooftop solar system was installed at Head office with a capacity of 17,000 kwh which amounts to 27% of total electricity consumption.
Partnered with Sri Lanka Navy to establish a mangrove nursery at Naval detachment in Kalpitiya.
Beach clean-up programme was organised to commemorate World Environment Day 2023.