Bank – Based on Financial Statements Prepared Under SLASs
Year ended December 31,
Rs. Mn. |
|
2006 |
|
2007 |
|
2008 |
|
2009 |
|
2010 |
Operating Results |
|
|
|
|
|
|
|
|
|
|
Income |
|
24,470 |
|
35,223 |
|
44,115 |
|
43,741 |
|
41,522 |
Interest income |
|
19,532 |
|
30,503 |
|
37,188 |
|
35,925 |
|
34,740 |
Interest expenses |
|
(11,955) |
|
(18,951) |
|
(24,336) |
|
(23,515) |
|
(18,328) |
Foreign exchange profit |
|
1,439 |
|
1,545 |
|
2,633 |
|
2,962 |
|
1,741 |
Commission and other income |
|
3,499 |
|
3,175 |
|
4,294 |
|
4,854 |
|
5,041 |
Operating expenses and provisions |
|
(8,301) |
|
(9,567) |
|
(12,259) |
|
(13,035) |
|
(13,876) |
Profit before income tax |
|
4,214 |
|
6,705 |
|
7,520 |
|
7,191 |
|
9,318 |
Income tax on profit |
|
(2,201) |
|
(2,601) |
|
(3,252) |
|
(2,887) |
|
(3,794) |
Net profit for the year |
|
2,013 |
|
4,104 |
|
4,268 |
|
4,304 |
|
5,524 |
As at December 31,
Rs. Mn. |
|
2006 |
|
2007 |
|
2008 |
|
2009 |
|
2010 |
Assets |
|
|
|
|
|
|
|
|
|
|
Cash and short-term funds |
|
13,739 |
|
16,208 |
|
24,115 |
|
24,057 |
|
10,557 |
Balances with Central Banks |
|
12,574 |
|
11,576 |
|
10,322 |
|
11,795 |
|
12,189 |
Government Treasury Bills, Bonds and other Securities |
|
32,065 |
|
49,863 |
|
51,633 |
|
96,671 |
|
114,541 |
Commercial paper |
|
423 |
|
– |
|
– |
|
– |
|
– |
Securities purchased under resale agreements |
|
4,593 |
|
3,804 |
|
3,400 |
|
5,203 |
|
68 |
Dealing securities |
|
145 |
|
207 |
|
58 |
|
81 |
|
283 |
Investments – Held-for-sale |
|
218 |
|
205 |
|
– |
|
– |
|
– |
Investments – Held-to-maturity |
|
1,394 |
|
1,756 |
|
1,197 |
|
1,025 |
|
2,366 |
Bills of Exchange |
|
3,204 |
|
3,195 |
|
3,059 |
|
2,847 |
|
5,291 |
Lease receivable |
|
9,482 |
|
10,945 |
|
9,484 |
|
7,794 |
|
11,019 |
Loans and advances |
|
137,846 |
|
160,184 |
|
167,858 |
|
161,329 |
|
200,729 |
|
|
215,683 |
|
257,943 |
|
271,126 |
|
310,802 |
|
357,043 |
Investments in subsidiaries |
|
434 |
|
434 |
|
434 |
|
279 |
|
354 |
Investments in associates |
|
44 |
|
44 |
|
44 |
|
44 |
|
44 |
Property, plant & equipment and intangible assets |
|
3,477 |
|
3,768 |
|
4,098 |
|
4,382 |
|
6,428 |
Other assets |
|
4,336 |
|
5,751 |
|
5,512 |
|
6,808 |
|
6,191 |
Total assets |
|
223,974 |
|
267,940 |
|
281,214 |
|
322,315 |
|
370,060 |
Liabilities |
|
|
|
|
|
|
|
|
|
|
Deposits from customers |
|
157,496 |
|
183,110 |
|
199,881 |
|
234,745 |
|
259,779 |
Dividends payable |
|
113 |
|
113 |
|
– |
|
– |
|
– |
Borrowings |
|
18,944 |
|
18,752 |
|
13,620 |
|
11,639 |
|
14,371 |
Securities sold under repurchase agreements |
|
14,330 |
|
23,342 |
|
25,075 |
|
29,905 |
|
45,774 |
Other liabilities |
|
9,122 |
|
10,308 |
|
10,646 |
|
12,888 |
|
12,259 |
Tax payable |
|
1,446 |
|
1,698 |
|
1,665 |
|
1,203 |
|
2,448 |
Debentures |
|
6,680 |
|
6,680 |
|
4,436 |
|
3,436 |
|
2,127 |
Total liabilities |
|
208,131 |
|
244,003 |
|
255,323 |
|
293,816 |
|
336,758 |
Bank – Based on Financial Statements Prepared Under SLFRSs and LKASs
Year ended December 31,
Rs. Mn. |
2011 |
|
2012 |
|
2013 |
|
2014 |
|
2015 |
|
CAGR
% |
Operating Results |
|
|
|
|
|
|
|
|
|
|
|
Income |
45,860 |
|
63,395 |
|
73,736 |
|
72,753 |
|
77,868 |
|
14.15 |
Interest income |
38,356 |
|
52,685 |
|
62,764 |
|
61,832 |
|
66,030 |
|
|
Interest expenses |
(19,650) |
|
(29,830) |
|
(36,879) |
|
(34,610) |
|
(35,685) |
|
|
Foreign exchange profit |
2,322 |
|
4,687 |
|
1,996 |
|
2,877 |
|
1,481 |
|
|
Commission and other income |
5,182 |
|
6,023 |
|
8,976 |
|
8,044 |
|
10,357 |
|
|
Operating expenses and provisions |
(15,313) |
|
(19,270) |
|
(22,347) |
|
(22,407) |
|
(25,040) |
|
|
Profit before income tax |
10,897 |
|
14,295 |
|
14,510 |
|
15,736 |
|
17,143 |
|
12.00 |
Income tax on profit |
(3,014) |
|
(4,197) |
|
(4,065) |
|
(4,556) |
|
(5,240) |
|
|
Net profit for the year |
7,883 |
|
10,098 |
|
10,445 |
|
11,180 |
|
11,903 |
|
10.85 |
As at December 31,
Rs. Mn. |
2011 |
|
2012 |
|
2013 |
|
2014 |
|
2015 |
|
CAGR
% |
Assets |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
12,911 |
|
19,733 |
|
14,262 |
|
20,592 |
|
20,044 |
|
|
Balances with Central Banks |
17,343 |
|
18,168 |
|
18,432 |
|
19,634 |
|
28,221 |
|
|
Placements with banks |
11,674 |
|
16,163 |
|
4,132 |
|
14,508 |
|
17,194 |
|
|
Securities purchased under resale agreements |
1,542 |
|
3,697 |
|
8,946 |
|
41,198 |
|
8,002 |
|
|
Derivative financial assets |
40 |
|
1,351 |
|
838 |
|
460 |
|
4,118 |
|
|
Other financial investments – Held-for-trading |
6,418 |
|
6,041 |
|
6,379 |
|
6,327 |
|
7,656 |
|
|
Loans and receivables to banks |
580 |
|
629 |
|
546 |
|
551 |
|
601 |
|
16.33 |
Loans and receivables to other customers |
286,314 |
|
337,247 |
|
353,062 |
|
405,431 |
|
508,115 |
|
Financial investments – Available-for-sale |
61,415 |
|
57,963 |
|
131,757 |
|
214,208 |
|
204,244 |
|
|
Financial investments – Loans and receivables |
26,630 |
|
31,971 |
|
48,943 |
|
50,436 |
|
57,724 |
|
|
|
424,867 |
|
492,963 |
|
587,297 |
|
773,345 |
|
855,919 |
|
|
Investments in subsidiaries |
315 |
|
303 |
|
289 |
|
1,211 |
|
1,237 |
|
|
Investments in associates |
44 |
|
44 |
|
44 |
|
44 |
|
44 |
|
|
Property, plant & equipment |
7,907 |
|
8,221 |
|
8,387 |
|
9,953 |
|
9,969 |
|
|
Intangible assets |
467 |
|
497 |
|
468 |
|
439 |
|
466 |
|
|
Leasehold property |
78 |
|
77 |
|
76 |
|
75 |
|
74 |
|
|
Deferred tax assets |
360 |
|
449 |
|
– |
|
– |
|
– |
|
|
Other assets |
7,291 |
|
9,189 |
|
9,426 |
|
10,543 |
|
12,096 |
|
|
Total assets |
441,329 |
|
511,743 |
|
605,987 |
|
795,610 |
|
879,805 |
|
18.82 |
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
Due to banks |
11,574 |
|
4,894 |
|
14,194 |
|
25,261 |
|
30,319 |
|
|
Derivative financial liabilities |
435 |
|
84 |
|
1,412 |
|
1,193 |
|
1,891 |
|
|
Securities sold under repurchase agreements |
41,235 |
|
31,760 |
|
45,519 |
|
124,564 |
|
112,385 |
|
|
Other financial liabilities – Held-for-trading |
– |
|
– |
|
– |
|
– |
|
– |
|
|
Due to other customers/Deposits from customers |
323,755 |
|
390,612 |
|
451,153 |
|
529,361 |
|
624,102 |
|
17.83 |
Other borrowings |
8,368 |
|
15,823 |
|
8,654 |
|
11,637 |
|
9,986 |
|
|
Current tax liabilities |
1,305 |
|
2,802 |
|
1,759 |
|
1,998 |
|
3,002 |
|
|
Deferred tax liabilities |
1,594 |
|
1,698 |
|
1,563 |
|
2,574 |
|
231 |
|
|
Other provisions |
1 |
|
2 |
|
2 |
|
2 |
|
2 |
|
|
Other liabilities |
8,162 |
|
10,363 |
|
9,827 |
|
17,444 |
|
15,547 |
|
|
Due to subsidiaries |
30 |
|
22 |
|
16 |
|
19 |
|
26 |
|
|
Subordinated liabilities |
1,106 |
|
1,106 |
|
10,944 |
|
11,045 |
|
11,973 |
|
|
Total liabilities |
397,565 |
|
459,166 |
|
545,043 |
|
725,098 |
|
809,464 |
|
|
CAGR - Compounded Annual Growth Rate
Bank – Based on Financial Statements Prepared Under SLASs
Year ended December 31,
Rs. Mn. |
|
2006 |
|
2007 |
|
2008 |
|
2009 |
|
2010 |
Equity |
|
|
|
|
|
|
|
|
|
|
Share capital |
|
2,428 |
|
10,515 |
|
10,548 |
|
10,608 |
|
10,811 |
Statutory reserve fund |
|
1,429 |
|
1,634 |
|
1,896 |
|
2,164 |
|
2,472 |
Reserves |
|
11,986 |
|
11,788 |
|
13,447 |
|
15,727 |
|
20,019 |
Total liabilities and equity |
|
223,974 |
|
267,940 |
|
281,214 |
|
322,315 |
|
370,060 |
Commitments and contingencies |
|
56,418 |
|
116,212 |
|
115,809 |
|
146,072 |
|
196,617 |
Ratios |
|
|
|
|
|
|
|
|
|
|
Return on average shareholders’ funds (%) |
|
12.73 |
|
20.63 |
|
17.13 |
|
15.83 |
|
17.87 |
Income growth (%) |
|
51.99 |
|
43.95 |
|
25.25 |
|
(0.85) |
|
(5.07) |
Return on average assets (%) |
|
1.00 |
|
1.67 |
|
1.55 |
|
1.43 |
|
1.60 |
Rate of dividend (%) |
|
50.00 |
|
– |
|
– |
|
– |
|
– |
Dividend per share (Rs.) |
|
– |
|
7.00 |
|
7.00 |
|
7.00 |
|
7.00 |
Ordinary share dividend cover (times) |
|
2.54 |
|
2.29 |
|
2.42 |
|
2.46 |
|
2.09 |
Gross dividends to ordinary shareholders (Rs. Mn.) |
|
714.00 |
|
1,743.13 |
|
1,745.81 |
|
1,751.47 |
|
2,642.25 |
Advances to deposits and refinance (%) |
|
92.49 |
|
91.75 |
|
87.12 |
|
70.88 |
|
80.97 |
Property, Plant & Equipment to shareholders’ funds (%) |
|
21.33 |
|
15.74 |
|
15.83 |
|
15.38 |
|
19.30 |
Total assets to shareholders’ funds (times) |
|
14.14 |
|
11.19 |
|
10.86 |
|
11.31 |
|
11.11 |
Capital funds to liabilities including contingent liabilities (%) |
|
6.05 |
|
7.87 |
|
6.98 |
|
6.48 |
|
6.26 |
Cost/income ratio (%) |
|
61.10 |
|
47.87 |
|
50.46 |
|
56.86 |
|
54.69 |
Liquid assets to liabilities (%) |
|
22.64 |
|
24.24 |
|
24.83 |
|
38.80 |
|
29.74 |
(As specified in the Banking Act No. 30 of 1988) |
|
|
|
|
|
|
|
|
|
|
Group Capital Adequacy (%) Tier I |
|
7.62 |
|
10.60 |
|
10.55 |
|
11.92 |
|
10.86 |
Tier I & II |
|
11.58 |
|
13.71 |
|
13.13 |
|
13.93 |
|
12.26 |
Share Information |
|
|
|
|
|
|
|
|
|
|
Market value of a share (Rs.) |
|
190.00 |
|
147.00 |
|
67.00 |
|
189.50 |
|
259.90 |
Earnings per share (Rs.) |
|
3.00 |
|
5.00 |
|
6.00 |
|
6.00 |
|
7.00 |
Price earnings ratio (times) |
|
15 |
|
9 |
|
4 |
|
11 |
|
18 |
Net assets value per share (Rs.) |
|
24.00 |
|
30.00 |
|
34.00 |
|
38.00 |
|
44.00 |
Earnings yield (%) |
|
5 |
|
11 |
|
25 |
|
9 |
|
6 |
Dividend payout ratio (%) – Cash |
|
39 |
|
44 |
|
41 |
|
41 |
|
34 |
Total dividend payout ratio (%) |
|
– |
|
– |
|
– |
|
– |
|
48 |
Other Information |
|
|
|
|
|
|
|
|
|
|
Number of employees |
|
3,415 |
|
3,745 |
|
4,041 |
|
4,071 |
|
4,321 |
Number of delivery points – Sri Lanka |
|
150 |
|
163 |
|
170 |
|
172 |
|
187 |
Number of delivery points – Bangladesh |
|
7 |
|
9 |
|
11 |
|
15 |
|
17 |
Number of automated teller machines |
|
278 |
|
301 |
|
346 |
|
368 |
|
414 |
Bank – Based on Financial Statements Prepared Under SLFRSs and LKASs
Year ended December 31,
Rs. Mn. |
2011 |
|
2012 |
|
2013 |
|
2014 |
|
2015 |
|
CAGR
% |
Equity |
|
|
|
|
|
|
|
|
|
|
|
Stated capital |
16,474 |
|
18,009 |
|
19,587 |
|
21,458 |
|
23,255 |
|
|
Statutory reserves |
2,890 |
|
3,433 |
|
4,035 |
|
4,327 |
|
4,922 |
|
|
Retained earnings |
2,547 |
|
4,178 |
|
4,233 |
|
4,258 |
|
4,389 |
|
|
Other reserves |
21,853 |
|
26,957 |
|
33,089 |
|
40,469 |
|
37,775 |
|
|
Total Liabilities and Equity |
441,329 |
|
511,743 |
|
605,987 |
|
795,610 |
|
879,805 |
|
18.82 |
Commitments and contingencies |
234,551 |
|
279,593 |
|
295,452 |
|
352,453 |
|
521,232 |
|
|
Ratios |
|
|
|
|
|
|
|
|
|
|
|
Return on average shareholders’ funds (%) |
20.28 |
|
20.96 |
|
18.40 |
|
17.01 |
|
16.90 |
|
|
Income growth (%) |
10.45 |
|
38.24 |
|
16.31 |
|
(1.33) |
|
7.03 |
|
|
Return on average assets (%) |
1.94 |
|
2.12 |
|
1.87 |
|
1.60 |
|
1.42 |
|
|
Dividend per share (Rs.) |
6.00 |
|
6.50 |
|
6.50 |
|
6.50 |
|
6.50 |
|
|
Ordinary share dividend cover (times) |
1.61 |
|
1.86 |
|
1.89 |
|
1.99 |
|
2.09 |
|
|
Gross dividends to ordinary shareholders (Rs. Mn.) |
4,904.70 |
|
5,421.42 |
|
5,522.47 |
|
5,630.32 |
|
5,699.59 |
|
|
Advances to deposits and refinance (%) |
83.30 |
|
82.01 |
|
77.48 |
|
75.89 |
|
80.84 |
|
|
Property, plant & equipment to equity (%) |
19.31 |
|
16.73 |
|
14.65 |
|
14.85 |
|
14.94 |
|
|
Total assets to equity (times) |
9.92 |
|
9.73 |
|
9.94 |
|
11.28 |
|
12.51 |
|
|
Capital funds to liabilities including contingent liabilities (%) |
6.92 |
|
7.12 |
|
7.25 |
|
6.54 |
|
5.29 |
|
|
Cost/income ratio (%) |
50.70 |
|
47.02 |
|
45.59 |
|
49.26 |
|
48.92 |
|
|
Liquid assets to liabilities (%) |
26.35 |
|
25.79 |
|
34.05 |
|
33.11 |
|
27.72 |
|
|
(As specified in the Banking Act No. 30 of 1988) |
|
|
|
|
|
|
|
|
|
|
|
Group Capital Adequacy (%) Tier I |
12.11 |
|
12.63 |
|
13.30 |
|
13.07 |
|
11.55 |
|
|
Tier I & II |
13.01 |
|
13.84 |
|
16.93 |
|
16.22 |
|
14.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share Information |
|
|
|
|
|
|
|
|
|
|
|
Market value of a share (Rs.) |
100.00 |
|
103.00 |
|
120.40 |
|
171.00 |
|
140.20 |
|
|
Earnings per share (Rs.) |
9 |
|
12 |
|
12 |
|
13 |
|
14 |
|
|
Price earnings ratio (times) |
11 |
|
9 |
|
10 |
|
13 |
|
10 |
|
|
Net assets value per share (Rs.) |
54 |
|
63 |
|
72 |
|
81 |
|
80 |
|
|
Earnings yield (%) |
9 |
|
12 |
|
10 |
|
8 |
|
10 |
|
|
Dividend payout ratio (%) – Cash |
42 |
|
37 |
|
37 |
|
35 |
|
33 |
|
|
Total dividend payout ratio (%) |
62 |
|
54 |
|
53 |
|
50 |
|
48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Information |
|
|
|
|
|
|
|
|
|
|
|
Number of employees |
4,524 |
|
4,602 |
|
4,730 |
|
4,852 |
|
4.951 |
|
|
Number of delivery points – Sri Lanka |
213 |
|
227 |
|
235 |
|
239 |
|
246 |
|
14.46 |
Number of delivery points – Bangladesh |
17 |
|
17 |
|
18 |
|
18 |
|
18 |
5.63 |
Number of automated teller machines |
514 |
|
572 |
|
604 |
|
625 |
|
640 |
|
|
CAGR - Compounded Annual Growth Rate