| GROUP | BANK | ||||||
| As at December 31, | Note | 2019 Rs. ’000 |
2018 Rs. ’000 |
Change % |
2019 Rs. ’000 |
2018 Rs. ’000 |
Change % |
| Assets | |||||||
| Cash and cash equivalents | 28 | 53,681,118 | 44,355,962 | 21.02 | 52,534,730 | 39,534,476 | 32.88 |
| Balances with Central Banks | 29 | 46,101,232 | 55,406,535 | (16.79) | 39,461,127 | 54,384,590 | (27.44) |
| Placements with banks | 30 | 24,903,809 | 19,898,515 | 25.15 | 24,527,241 | 19,898,515 | 23.26 |
| Securities purchased under resale agreements | 13,147,534 | 9,513,512 | 38.20 | 13,147,534 | 9,513,512 | 38.20 | |
| Derivative financial assets | 31 | 1,830,927 | 7,909,962 | (76.85) | 1,830,927 | 7,909,962 | (76.85) |
| Financial assets recognised through profit or loss – measured at fair value |
32 | 21,468,033 | 5,520,167 | 288.90 | 21,468,033 | 5,520,167 | 288.90 |
| Financial assets at amortised cost – Loans and advances to banks | 33 | 757,787 | 763,074 | (0.69) | 757,787 | 763,074 | (0.69) |
| Financial assets at amortised cost – Loans and advances to other customers |
34 | 893,919,311 | 867,611,976 | 3.03 | 884,645,744 | 861,100,315 | 2.73 |
| Financial assets at amortised cost – Debt and other financial instruments |
35 | 107,059,021 | 89,274,413 | 19.92 | 101,144,819 | 83,855,436 | 20.62 |
| Financial assets measured at fair value through other comprehensive income |
36 | 197,825,017 | 176,760,611 | 11.92 | 197,568,330 | 176,506,729 | 11.93 |
| Investments in subsidiaries | 37 | – | – | – | 5,011,284 | 4,263,631 | 17.54 |
| Investments in associates | 38 | 56,821 | 105,320 | (46.05) | 44,331 | 44,331 | – |
| Property, plant and equipment and right-of-use assets | 39 | 22,423,046 | 17,015,236 | 31.78 | 20,436,493 | 15,301,246 | 33.56 |
| Investment properties | 40 | 46,350 | – | – | – | – | – |
| Intangible assets | 41 | 1,645,714 | 1,433,931 | 14.77 | 1,080,010 | 906,112 | 19.19 |
| Leasehold property | 42 | 101,612 | 103,064 | (1.41) | 70,710 | 71,652 | (1.31) |
| Deferred tax assets | 43 | 530,165 | 188,487 | 181.27 | 294,059 | – | – |
| Other assets | 44 | 23,443,869 | 24,051,472 | (2.53) | 23,322,247 | 23,911,122 | (2.46) |
| Total assets | 1,408,941,366 | 1,319,912,237 | 6.75 | 1,387,345,406 | 1,303,484,870 | 6.43 | |
| Liabilities | |||||||
| Due to banks | 45 | 53,807,425 | 52,362,052 | 2.76 | 51,505,694 | 50,101,081 | 2.80 |
| Derivative financial liabilities | 46 | 1,495,317 | 8,021,783 | (81.36) | 1,495,317 | 8,021,783 | (81.36) |
| Securities sold under repurchase agreements | 51,117,342 | 48,951,394 | 4.42 | 51,220,023 | 49,104,462 | 4.31 | |
| Financial liabilities at amortised cost – due to depositors | 47 | 1,068,982,587 | 994,370,875 | 7.50 | 1,053,307,660 | 983,037,314 | 7.15 |
| Financial liabilities at amortised cost – other borrowings | 48 | 23,248,893 | 25,361,912 | (8.33) | 23,248,893 | 25,361,912 | (8.33) |
| Current tax liabilities | 49 | 5,197,188 | 6,735,997 | (22.84) | 4,967,644 | 6,566,358 | (24.35) |
| Deferred tax liabilities | 43 | 416,458 | 971,424 | (57.13) | – | 646,248 | – |
| Other liabilities | 50 | 30,775,884 | 24,547,513 | 25.37 | 30,496,709 | 24,206,351 | 25.99 |
| Due to subsidiaries | 51 | – | – | – | 54,292 | 40,955 | 32.57 |
| Subordinated liabilities | 52 | 37,886,789 | 37,992,457 | (0.28) | 37,886,789 | 37,992,457 | (0.28) |
| Total liabilities | 1,272,927,883 | 1,199,315,407 | 6.14 | 1,254,183,021 | 1,185,078,921 | 5.83 | |
| Equity | |||||||
| Stated capital | 53 | 40,916,958 | 39,147,882 | 4.52 | 40,916,958 | 39,147,882 | 4.52 |
| Statutory reserves | 55 | 8,387,701 | 7,444,178 | 12.67 | 8,205,391 | 7,354,143 | 11.58 |
| Retained earnings | 56 | 5,182,185 | 4,949,955 | 4.69 | 5,144,433 | 5,063,076 | 1.61 |
| Other reserves | 57 | 79,937,405 | 67,855,834 | 17.80 | 78,895,603 | 66,840,848 | 18.04 |
| Total equity attributable to equity holders of the Bank | 134,424,249 | 119,397,849 | 12.59 | 133,162,385 | 118,405,949 | 12.46 | |
| Non-controlling interest | 58 | 1,589,234 | 1,198,981 | 32.55 | – | – | – |
| Total equity | 136,013,483 | 120,596,830 | 12.78 | 133,162,385 | 118,405,949 | 12.46 | |
| Total liabilities and equity | 1,408,941,366 | 1,319,912,237 | 6.75 | 1,387,345,406 | 1,303,484,870 | 6.43 | |
| Contingent liabilities and commitments | 59 | 580,961,807 | 604,021,400 | (3.82) | 579,999,273 | 603,883,119 | (3.96) |
| Net assets value per ordinary share (Rs.) | 60 | 130.83 | 118.13 | 10.75 | 129.60 | 117.15 | 10.63 |
| Memorandum information | ||
| Number of employees | 5,062 | 5,027 |
| Number of customer service centres | 287 | 285 |
The Notes appearing on this Annual Report form an integral part of these Financial Statements.
Certification
These Financial Statements have been prepared in compliance with requirements of the Companies Act No. 07 of 2007.
K D N Buddhipala
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed for and on behalf of the Board.
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| K G D D Dheerasinghe Chairman |
S Renganathan Managing Director/Chief Executive Officer |
S Swarnajothi Independent Non-Executive Director |
R A P Rajapaksha Company Secretary |
February 20, 2020
Colombo