GROUP
LKR Mn
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.