Financial reports

		GROUP			BANK
As at December 31,	Note	2015 Rs. ’000	2014 Rs. ’000	Change %	2015 Rs. ’000	2014 Rs. ’000	Change %
Assets
Cash and cash equivalents	26	20,107,076	20,621,778	(2.50)	20,043,512	20,591,867	(2.66)
Balances with Central Banks	27	28,221,017	19,633,746	43.74	28,221,017	19,633,746	43.74
Placements with banks	28	17,193,539	14,507,861	18.51	17,193,539	14,507,861	18.51
Securities purchased under resale agreements		8,002,100	41,198,266	(80.58)	8,002,100	41,198,266	(80.58)
Derivative financial assets	29	4,118,169	459,510	796.21	4,118,169	459,510	796.21
Other financial instruments – Held-for-trading	30	7,656,349	6,326,636	21.02	7,656,349	6,326,636	21.02
Loans and receivables to banks	31	601,106	551,066	9.08	601,106	551,066	9.08
Loans and receivables to other customers	32	509,923,128	406,531,089	25.43	508,115,127	405,431,457	25.33
Financial investments – Available-for-sale	33	204,261,934	214,225,017	(4.65)	204,244,289	214,208,370	(4.65)
Financial investments – Held-to-maturity		–	–	–	–	–	–
Financial investments – Loans and receivables	34	57,724,369	50,436,064	14.45	57,724,369	50,436,064	14.45
Investments in subsidiaries	35	–	–	–	1,237,146	1,211,000	2.16
Investments in associates	36	104,503	106,287	(1.68)	44,331	44,331	–
Property, plant & equipment	37	11,181,433	11,134,861	0.42	9,968,985	9,953,091	0.16
Intangible assets	38	884,034	856,230	3.25	465,960	439,128	6.11
Leasehold property	39	107,420	108,872	(1.33)	74,478	75,420	(1.25)
Other assets	40	12,097,017	10,560,430	14.55	12,094,591	10,541,817	14.73
Total assets		882,183,194	797,257,713	10.65	879,805,068	795,609,630	10.58
Liabilities
Due to banks	41	31,789,396	25,669,025	23.84	30,319,119	25,260,976	20.02
Derivative financial liabilities	42	1,890,770	1,193,139	58.47	1,890,770	1,193,139	58.47
Securities sold under repurchase agreements		112,249,703	124,391,042	(9.76)	112,384,812	124,564,499	(9.78)
Other financial liabilities – Held-for-trading		–	–	–	–	–	–
Due to other customers/deposits from customers	43	624,021,217	529,266,588	17.90	624,101,810	529,361,484	17.90
Other borrowings	44	9,985,637	11,636,583	(14.19)	9,985,637	11,636,583	(14.19)
Current tax liabilities	45	3,025,662	2,037,388	48.51	3,001,984	1,997,990	50.25
Deferred tax liabilities	46	467,632	2,876,199	(83.74)	230,615	2,573,760	(91.04)
Other provisions	47	1,874	1,874	–	1,874	1,874	–
Other liabilities	48	15,749,184	17,669,903	(10.87)	15,548,159	17,443,531	(10.87)
Due to subsidiaries	49	–	–	–	26,212	19,289	35.89
Subordinated liabilities	50	11,988,272	11,262,573	6.44	11,973,272	11,044,775	8.41
Total liabilities		811,169,347	726,004,314	11.73	809,464,264	725,097,900	11.64
Equity
Stated capital	51	23,254,605	21,457,501	8.38	23,254,605	21,457,501	8.38
Statutory reserves	53	4,922,367	4,327,103	13.76	4,922,264	4,327,103	13.75
Retained earnings	54	4,467,807	4,418,412	1.12	4,388,867	4,258,287	3.07
Other reserves	55	38,318,860	41,002,819	(6.55)	37,775,068	40,468,839	(6.66)
Total equity attributable to equity holders of the Bank		70,963,639	71,205,835	(0.34)	70,340,804	70,511,730	(0.24)
Non-controlling interest	56	50,208	47,564	5.56	–	–	–
Total equity		71,013,847	71,253,399	(0.34)	70,340,804	70,511,730	(0.24)
Total liabilities and equity		882,183,194	797,257,713	10.65	879,805,068	795,609,630	10.58
Contingent liabilities and commitments	57	521,232,320	352,453,452	47.89	521,232,320	352,453,452	47.89
Net assets value per ordinary share (Rs.)	58	80.93	82.24	(1.59)	80.22	81.44	(1.50)

The Notes 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.

 

L.W.P. Indrajith
Assistant General Manager – Finance

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,

 

K.G.D.D. Dheerasinghe
Chairman

 

M.P. Jayawardena
Deputy Chairman

 

J. Durairatnam
Managing Director

 

Mrs. J.R. Gamage
Company Secretary

 

February 24, 2016
Colombo