2024
FOR THE YEAR ENDED 31 DECEMBER 2024
Classification : Public
INTERIM FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Page 2 of 18
Cargills Bank posts Profit before Tax Rs. 1,150 Million for the year ended 31 December 2024, a 58% increase
Financial Highlights
- Profit after Income Tax for the year - Rs. 651 Mn, an increase of 48%
- Net gains from financial assets at fair value through profit or loss grow by Rs. 11 Mn
- Net gains from derecognition of financial assets at fair value through other comprehensive income grow by Rs. 493 Mn
- Bank remains well capitalized and liquid;
o Total Capital Ratio (CAR) at 22.44%
o Liquidity Coverage Ratio (LCR), All Currency at 313.34%
o Net Stable Funding Ratio (NSFR) at 136.28%
- Total Assets grow by Rs. 10 Bn
Cargills Bank's results for the year ended 31 December 2024 reflected a YoY increase of 48% in profitability. Profit after tax at Rs. 651 Mn for the year 2024 was higher by Rs. 211 Mn compared to 2023. Net interest income of Rs. 3.589 Bn was a marginal increase of Rs. 208 Mn in the year 2024 compared with 2023. The Bank continued to focus on repricing of deposits and advances to reflect the market conditions and to manage the NIM in an optimal manner. The marginal increase in NIM is attributable to this proactive approach in the decreasing interest rate regime.
Net fee and commission income of Rs. 894 Mn for the year ended 31 December 2024 recorded Rs. 96 Mn growth in comparison with the previous year. Concerted efforts to improve trade volumes, card-related fee income and improved remittance income were among the main contributory factors for this growth of 12% recorded.
Additionally, net gains from financial assets at fair value through profit or loss grew by Rs. 11 Mn to reach Rs. 276 Mn in the year of 2024. Capital gains realized on derecognition of financial assets boosted other income streams by Rs. 493 Mn in the period under review to reach Rs. 670 Mn. Net other operating dropped by 76% to
Total operating expenses increased by 11% from Rs. 2.892 Bn last year to Rs. 3.198 Bn. Personnel expenses increased by 24% largely due to adjustments to salary and welfare benefits considering increased costs of living over the last few years and market conditions. Other operating expenses grew by 4% largely due to increased utility-related operating expenses and marketing costs.
Impairment charges totaling Rs. 607 Mn reflected a decrease of 28% from Rs. 849 Mn in the year 2024 partially due to the need for management overlay provisions being lower subsequent to a careful scrutiny of the status of borrowers and considering the improved macro-economic environment. The Bank's Stage 3 Loans (net of Stage 3 Impairment) to Total Loans Ratio stood at 8.74% while Stage 3 Provision Cover was 46.79% as at 31 December 2024.
The Bank maintains Capital Adequacy and Liquid Assets Ratios well within the minimum requirements prescribed by the Central Bank. The Total Capital Ratio was at 22.44% while all liquidity related ratios were well above the regulatory minimum.
Total assets of the Bank as at 31 December at Rs. 80.3 Bn, an increase of 15% or Rs. 10.3 Bn during the year. The loan book posted a moderate growth of 14%, from Rs. 40.6 Bn to Rs. 46.1 Bn, given conditions prevailing. Financial Assets measured at fair value through other comprehensive income grew by 26% to reach Rs. 22.4 Bn. Net loss of Rs. 411 Mn was reflected in Other Comprehensive Income. Customer Deposits grew by 17% to Rs.
59.4 Bn at the reporting date from Rs. 50.7 Bn at the end 2023 amidst continued reductions in market interest rates.
Mr. Richard Ebell who served on the Bank's Board as Chairman retired on 02 July 2024 in compliance with the Banking Act on Corporate Governance for licensed commercial banks issued by the Monetary Board of the Central Bank. Mr. Ebell completed nine years in the Bank Board having been appointed in 2015. Mr. Asoka Pieris, who served as Deputy Chairman was appointed as the Chairman of the Bank, with effect from July 3, 2024.
Page 3 of 18
Cargills Bank PLC | (4,440,064.00) | |||||||||
Statement of Profit or Loss | 7,084,733.00 | |||||||||
OK | OK | |||||||||
For the year ended | For the Quarter ended | |||||||||
31-Dec-24 | 31-Dec-23 Change | 31-Dec-24 | 31-Dec-23 | Change | ||||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | % | |||||
Interest income | 8,931,702 | 10,929,050 | (18) | 2,377,452 | 2,487,897 | (4) | ||||
Interest expenses | (5,342,922) | (7,547,659) | 29 | (1,287,734) | (1,707,620) | 25 | ||||
Net interest income | 3,588,780 | 3,381,391 | 6 | 1,089,718 | 780,277 | 40 | ||||
Fees and commission income | 1,382,879 | 1,283,431 | 8 | 391,019 | 342,267 | 14 | ||||
Fees and commission expenses | (488,607) | (484,664) | (1) | (118,914) | (133,627) | 11 | ||||
Net fees and commission income | 894,272 | 798,767 | 12 | 272,105 | 208,640 | 30 | ||||
Net gains/(losses) from trading | 387 | 324 | 19 | 14,079 | (28) | 50,382 | ||||
Net gains/(losses) from financial assets at fair value through profit or loss | 275,917 | 264,942 | 4 | 34,451 | 86,225 | (60) | ||||
Net gains/(losses) from derecognition of financial assets | 670,486 | 176,953 | 279 | 166,798 | 9,588 | 1,640 | ||||
Net other operating income | 61,395 | 252,716 | (76) | (14,872) | 28,955 | (151) | ||||
Total other income | 1,008,185 | 694,935 | 45 | 200,456 | 124,740 | 61 | ||||
Total operating income | 5,491,237 | 4,875,094 | 13 | 1,562,279 | 1,113,657 | 40 | ||||
Impairment for loans and other losses | ||||||||||
Loans and advances to customers | (528,883) | (782,688) | 32 | 219,451 | (198,889) | 210 | ||||
Financial assets and other | (78,477) | (66,104) | (19) | (15,612) | (42,767) | 63 | ||||
Total impairment for loans and other losses | (607,360) | (848,792) | 28 | 203,839 | (241,656) | 184 | ||||
Net operating income | 4,883,877 | 4,026,302 | 21 | 1,766,118 | 872,001 | 103 | ||||
Personnel expenses | (1,329,639) | (1,072,799) | (24) | (353,554) | (285,501) | (24) | ||||
Depreciation and amortization | (320,815) | (331,904) | 3 | (69,407) | (87,561) | 21 | ||||
Other operating expenses | (1,547,082) | (1,486,894) | (4) | (372,117) | (415,816) | 11 | ||||
Total operating expenses | (3,197,536) | (2,891,597) | (11) | (795,078) | (788,878) | (1) | ||||
Operating profit/(loss) before taxes on financial services | ||||||||||
1,686,341 | 1,134,705 | 49 | 971,040 | 83,121 | 1,068 | |||||
Taxes on financial services | (536,649) | (404,829) | (33) | (205,456) | (77,856) | (164) | ||||
Profit/(Loss) before tax | 1,149,692 | 729,876 | 58 | 765,584 | 5,267 | 14,436 | ||||
Tax expenses | (498,894) | (289,856) | (72) | (273,548) | 2,969 | (9,314) | ||||
Profit/(Loss) for the period | 650,798 | 440,020 | 48 | 492,036 | 8,236 | 5,874 | ||||
Basic earnings per share (Rs.) | 0.69 | 0.50 | 38 | 0.56 | 0.01 | 5,865 | ||||
Diluted earning per share (Rs.) | 0.69 | 0.50 | 38 | 0.56 | 0.01 | 5,865 | ||||
799,453 | 251,256 | |||||||||
Page 4 of 18
Cargills Bank PLC
Statement of Profit or Loss and Other Comprehensive Income
H | OK | I | OK | |||||
For the year ended | For the Quarter ended | |||||||
31-Dec-24 | 31-Dec-23 | Change | 31-Dec-24 | 31-Dec-23 | Change | |||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | % | |||
Profit/(Loss) for the period | 650,798 | 440,020 | 48 | 492,036 | 8,236 | 5,874 | ||
Other comprehensive income, net of tax | ||||||||
Items that will not be reclassified to profit & loss | ||||||||
Net actuarial gains/(loss) on defined benefit obligation | (24,055) | 4,503 | (634) | (24,055) | 4,503 | (634) | ||
Deferred tax related to the above | 7,216 | (1,351) | 634 | 7,216 | (1,351) | 634 | ||
Change in fair value of investment in equity measured at fair value through | 3,121 | |||||||
other comprehensive income | 2,672 | - | 3,121 | 2,672 | 17 | |||
Deferred tax related to the above | (936) | (802) | - | (936) | (802) | (17) | ||
(14,654) | 5,022 | (392) | (14,654) | 5,022 | (392) | |||
Items that are or may be reclassified to profit or loss | ||||||||
Financial assets at Fair Value through Other Comprehensive Income (FVOCI) | ||||||||
Fair value gains/(losses) that arose during the period | ||||||||
Treasury Bills | 12,101 | 114,055 | (89) | 43,655 | (38,927) | 212 | ||
Treasury Bonds | 70,822 | 1,881,928 | (96) | 102,125 | 50,655 | 102 | ||
82,923 | 1,995,983 | (96) | 145,780 | 11,729 | 1,143 | |||
Fair value (gains)/losses reclassified to Income Statement on disposal | ||||||||
Treasury Bills | (11,231) | (10,150) | (11) | (2,107) | (2,870) | 27 | ||
Treasury Bonds | (659,255) | (166,803) | (295) | (164,691) | (6,718) | (2,352) | ||
(670,486) | (176,953) | (279) | (166,798) | (9,588) | (1,640) | |||
Net gains/(losses) on re-measuring Financial assets at FVOCI | ||||||||
Treasury Bills | 870 | 103,905 | (99) | 41,548 | (41,797) | 199 | ||
Treasury Bonds | (588,433) | 1,715,125 | (134) | (62,566) | 43,937 | (242) | ||
(587,563) | 1,819,030 | (132) | (21,018) | 2,140 | (1,082) | |||
Deferred tax related to the above | 176,269 | (541,594) | 133 | 6,305 | 3,473 | 82 | ||
(411,294) | 1,277,436 | (132) | (14,713) | 5,613 | (362) |
Other comprehensive income/(loss) for the period, net of tax | (425,948) | 1,282,458 | (133) |
(29,367) 10,635 (376)
Total comprehensive income/(loss) for the period, net of tax | 224,850 | 1,722,478 | (87) |
462,669 | 18,871 | 2,352 |
29-Jun-5397
Page 5 of 18
Cargills Bank PLC
Statement of Financial Position
As at | 31-Dec-24 | 31-Dec-23 | Growth | ||
(Audited) | % | ||||
Assets | Rs. '000 | Rs. '000 | |||
Cash and cash equivalents | 10 | 1,715,116 | 1,963,321 | (13) | |
Balances with Central Bank of Sri Lanka | 11 | 764,150 | 432,805 | 77 | |
Securities purchased under resale agreements | 700,862 | 730,566 | (4) | ||
Derivative financial instruments | 13 | - | 6 | (100) | |
Financial assets measured at fair value through profit or loss | 14 | 2,324,912 | 2,468,401 | (6) | |
Financial assets at amortized costs - Loans and advances to other customers | 15 | 46,103,638 | 40,559,438 | 14 | |
Financial assets at amortized costs - Debt and other financial instruments | 16 | 3,266,362 | 2,050,119 | 59 | |
Financial assets measured at fair value through other comprehensive income | ] | 22,400,969 | 17,779,520 | 26 | |
Property, plant & equipment and right of use assets | 843,022 | 462,706 | 82 | ||
Intangible assets | 202,059 | 283,445 | (29) | ||
Deferred tax assets | 523,232 | 284,090 | 84 | ||
Other assets | 18 | 1,408,080 | 2,944,760 | (52) | |
Total assets | 80,252,402 | 69,959,177 | 15 | ||
Liabilities and equity | |||||
Due to banks | 19 | 2,032,393 | 781,950 | 160 | |
Derivative financial instruments | - | 27 | (100) | ||
Financial liabilities at amortized cost - Due to depositors | 20 | 59,426,888 | 50,664,570 | 17 | |
Financial liabilities at amortized cost - Due to other borrowers | 21 | 3,011,001 | 3,669,925 | (18) | |
Retirement benefit obligation | 22 | 151,655 | 108,605 | 40 | |
Lease liability | 599,355 | 335,781 | 78 | ||
Other liabilities | 23 | 2,863,477 | 2,455,536 | 17 | |
Total liabilities | 68,084,769 | 58,016,394 | 17 | ||
Equity | |||||
Stated capital | 11,894,421 | 11,894,421 | - | ||
Statutory reserves | 111,315 | 78,775 | 41 | ||
Other reserves | 737,445 | 1,146,555 | (36) | ||
Retained earnings/(losses) | (575,548) | (1,176,968) | 51 | ||
Total equity attributable to equity holders of the Bank | 12,167,633 | 11,942,783 | 2 | ||
- | |||||
Total liabilities and equity | 80,252,402 | 69,959,177 | 15 | ||
Contingent liabilities & commitments | 19,111,448 | 16,697,057 | 14 | ||
Net assets value per share (Rs.) | ###### | 12.87 | 12.63 | 2 | |
Memorandum information: | |||||
No. of employees | 690 | 623 | |||
No. of branches | 24 | 24 | |||
Certification:
These Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007. Sgd.
-
Gajanayaka
Head of Finance
We, the undersigned, being the Managing Director and the Chairman of Cargills Bank PLC, certify jointly that;
- the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka,
- the information contained in these statements have been extracted from the unaudited financial statements of the Bank, unless indicated as audited.
Sgd. | Sgd. |
K B S Bandara | H A Pieris |
Managing Director/Chief Executive Officer | Chairman |
25 February 2025 | |
Colombo |
Page 6 of 18
Cargills Bank PLC
Statement of Changes in Equity
Fair Value | ||||||
Stated capital | Statutory | through Other | Retained | Total | ||
reserve | Comprehensive | earnings/(losses) | ||||
Income Reserve | ||||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||
Balance as at 01.01.2023-Audited | 11,394,421 | 56,774 | (132,751) | (1,598,139) | 9,720,305 | |
Total comprehensive income for the period ended 30.09.2023 | ||||||
Profit for the period | - | - | - | 440,020 | 440,020 | |
Other comprehensive income, net of tax | - | - | 1,279,306 | - | 1,279,306 | |
Total comprehensive income/(loss) for the period | - | - | 1,279,306 | 440,020 | 1,719,326 | |
Transactions with owners in their capacity as owners | ||||||
Issue of shares | - | - | - | - | - | |
Transfer to statutory reserves | - | - | - | - | - | |
Total transactions with owners | - | - | - | - | - | |
Balance as at 31.12.2023 | 11,394,421 | 56,774 | 1,146,555 | (1,158,119) | 11,439,631 | |
Total comprehensive income for the period from 01.10.2023 to 31.12.2023 | ||||||
Loss for the period | - | - | - | - | - | |
Other comprehensive income/ (loss), net of tax | - | - | (0) | 3,152 | 3,152 | |
Total comprehensive income/(loss) for the period | - | - | (0) | 3,152 | 3,152 | |
Transactions with owners in their capacity as owners | ||||||
Issue of shares | 500,000 | - | - | - | 500,000 | |
Transfer to statutory reserves | - | 22,001 | - | (22,001) | - | |
Total transactions with owners | 500,000 | 22,001 | - | (22,001) | 500,000 | |
Balance as at 01.01.2024 - Audited | 11,894,421 | 78,775 | 1,146,555 | (1,176,968) | 11,942,783 | |
Total comprehensive income for the period ended 31.12.2024 | ||||||
Profit for the period | - | - | - | 650,798 | 650,798 | |
Other comprehensive income/(loss), net of tax | - | - | (409,110) | (16,838) | (425,948) | |
Total comprehensive income/(loss) for the period | - | - | (409,110) | 633,960 | 224,850 | |
Transactions with owners in their capacity as owners | ||||||
Issue of shares | - | - | - | - | - | |
Transfer to statutory reserves | - | 32,540 | (32,540) | - | ||
Total transactions with owners | - | 32,540 | - | (32,540) | - | |
Balance as at 31.12.2024 | 11,894,421 | 111,315 | 737,445 | (575,548) | 12,167,633 | |
Page 7 of 18
Cargills Bank PLC
Statement of Cash Flows
(0) | |||
For the period ended | |||
N | 31-Dec-24 | 31-Dec-23 | |
Rs. '000 | Rs. '000 | ||
Cash flows from operating activities | |||
Profit/(Loss) before income tax | # | 1,149,692 | 729,876 |
# | |||
Adjustments for: | # | ||
Non-cash items included in profit/(loss) before tax | # | 1,153,174 | 1,443,408 |
Income tax paid | # | (279,678) | - |
Interest paid on lease liability | # | (75,545) | (44,442) |
Gains/(losses) on sale of property, plant & equipment and other assets | # | - | (99) |
Dividend income | # | (1,282) | (1,571) |
Benefits paid on defined benefit plans | # | (17,253) | (18,599) |
Change in operating assets | # | (11,071,882) | (14,479,307) |
Change in operating liabilities | # | 10,105,705 | 13,896,768 |
Net cash generated from/(used in) operating activities | # | 962,932 | 1,526,034 |
# | |||
Cash flows from investing activities | # | ||
Net purchase of property, plant and equipment | # | (231,473) | (97,096) |
Proceeds from sale of property, plant and equipment | # | 2,028 | 336 |
Net purchase of intangible assets | (34,680) | (79,675) | |
Dividend received | 1,282 | 1,571 | |
Net cash generated from/(used in) investing activities | (262,842) | (174,864) | |
# | |||
Cash flows from financing activities | # | ||
Payment of lease liability | (101,145) | (95,951) | |
Change in securities sold under repurchase agreements | # | (658,924) | (18,999) |
Interest paid | # | (223,350) | (469,651) |
Net cash generated from/(used in) financing activities | (983,419) | (584,601) | |
Net increase/(decrease) in cash and cash equivalents | (283,330) | 766,569 | |
Cash and cash equivalents at the beginning of the period | 2,026,909 | 1,260,340 | |
Cash and cash equivalents at the end of the period | 1,743,581 | 2,026,909 | |
Less: Provision for impairment | (28,465) | (63,588) | |
Cash and cash equivalents as per Statement of Financial Position (Net) | 1,715,116 | 1,963,321 | |
Page 8 of 18
Cargills Bank PLC
Classification of Financial Assets and Financial Liabilities
Fair value | Fair Value | Amortized | Total | |
through P/L | through OCI | cost | ||
Rs. ' | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 |
As at 31.12.2024 | ||||
Financial assets | ||||
Cash and cash equivalents | - | - | 1,715,116 | 1,715,116 |
Balances with Central Bank of Sri Lanka | - | - | 764,150 | 764,150 |
Securities purchased under resale agreements | - | 700,862 | 700,862 | |
Derivative financial instruments | - | - | - | - |
Financial assets measured at fair value through profit or loss | 2,324,912 | - | - | 2,324,912 |
Financial assets at amortized costs - Loans and Advances to other customers | - | - | 46,103,638 | 46,103,638 |
Financial assets at amortized costs - Debt and other financial Instruments | - | - | 3,266,362 | 3,266,362 |
Financial assets at fair value through other comprehensive income | ||||
Debt securities | - | 22,377,160 | - | 22,377,160 |
Equity securities | - | 23,809 | - | 23,809 |
Other assets* | - | - | 659,129 | 659,129 |
Total financial assets | 2,324,912 | 22,400,969 | 53,209,257 | 77,935,138 |
Financial liabilities | ||||
Due to banks | - | - | 2,032,393 | 2,032,393 |
Derivative financial instruments | - | - | - | - |
Financial liabilities at amortized cost - Due to depositors | - | - | 59,426,888 | 59,426,888 |
Financial liabilities at amortized cost - Due to other borrowers | - | - | 3,011,001 | 3,011,001 |
Lease Liability | - | - | 599,355 | 599,355 |
Other liabilities** | - | - | 2,385,173 | 2,385,173 |
Total financial liabilities | - | - | 67,454,810 | 67,454,810 |
As at 31.12.2023 - Audited | ||||
Financial assets | ||||
Cash and cash equivalents | - | - | 1,963,322 | 1,963,322 |
Balances with Central Bank of Sri Lanka | - | - | 432,805 | 432,805 |
Securities purchased under resale agreements | - | - | 730,566 | 730,566 |
Derivative financial instruments | 6 | - | - | 6 |
Financial assets measured at fair value through profit or loss | 2,468,401 | - | - | 2,468,401 |
Financial assets at Amortized costs - Loans and Advances to other customers | - | - | 40,559,439 | 40,559,439 |
Financial assets at Amortized costs - Debt and other financial Instruments | - | - | 2,050,118 | 2,050,118 |
Financial assets at fair value through other comprehensive income | ||||
Debt securities | - | 17,758,831 | - | 17,758,831 |
Equity securities | - | 20,688 | - | 20,688 |
Other assets* | - | - | 2,136,097 | 2,136,097 |
Total financial assets | 2,468,407 | 17,779,519 | 47,872,347 | 68,120,273 |
Financial liabilities | ||||
Due to banks | - | - | 717,667 | 717,667 |
Derivative financial instruments | 27 | - | - | 27 |
Financial liabilities at amortized cost - Due to depositors | - | - | 50,728,852 | 50,728,852 |
Financial liabilities at amortized cost - Due to other borrowers | - | - | 3,669,925 | 3,669,925 |
Lease Liability | - | - | 335,781 | 335,781 |
Other liabilities** | - | - | 1,785,885 | 1,785,885 |
Total financial liabilities | 27 | - | 57,238,110 | 57,238,137 |
*Other assets only include other receivables
**Other liabilities exclude accrued expenditure and impairment on commitments and contingencies
Page 9 of 18
Cargills Bank PLC
Classification of Financial Assets and Financial Liabilities
Fair Value Hierarchy
The Bank measures the fair value using the following fair value hierarchy, which reflects the significance of the inputs used in making the measurement.
• Level 1 : Fair value measurement using unadjusted quoted market prices
Inputs that are quoted market prices (unadjusted) in an active market for identical instruments.
• Level 2 : Fair value measurement using significant observable inputs
Inputs other than quoted prices included within Level 1 that are observable either directly (i.e., as prices) or indirectly (i.e., derived from prices). This category includes instruments valued using;
- quoted prices in active markets for similar instruments,
- quoted prices for identical or similar instruments in markets that are considered to be less active, or
- other valuation techniques in which almost all significant inputs are directly or indirectly observable from market data.
•Level 3 : Fair value measurement using significant unobservable inputs
Inputs that are unobservable.
This category includes all instruments for which the valuation technique includes inputs not based on observable data and the unobservable inputs have a significant effect on the instrument's valuation.
Fair value estimates obtained from models are adjusted for any other factors, such as liquidity risk or model uncertainties, to the extent that the Bank believes that a third party market participant would take them into account in pricing a transaction.
Financial instruments measured at fair value - fair value hierarchy
The following table provides an analysis of assets and liabilities measured at fair value as at the reporting date, by the level in the fair value hierarchy into which the fair value measurement is categorised. These amounts were based on the values recognised in the Statement of Financial Position:
Level 1 | Level 2 | Level 3 | Total | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
As at 31 December 2024 | ||||
Financial Assets | ||||
Derivative financial instruments | - | - | - | - |
Financial assets measured at fair value through | - | 2,324,912 | - | 2,324,912 |
profit or loss | ||||
Financial assets measured at fair value through | ||||
other comprehensive income | ||||
Debt securities | 22,377,160 | - | - | 22,377,160 |
Equity Securities | - | - | 23,809 | 23,809 |
Total assets at fair value | 22,377,160 | 2,324,912 | 23,809 | 24,725,881 |
Financial Liabilities | ||||
Derivative financial instruments | - | - | - | - |
Total liabilities at fair value | - | - | - | - |
Level 1 | Level 2 | Level 3 | Total | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
As at 31 December 2023 - Audited | ||||
Financial Assets | ||||
Derivative financial instruments | - | 6 | - | 6 |
Financial assets measured at fair value through | - | 2,468,401 | - | 2,468,401 |
profit or loss | ||||
Financial assets measured at fair value through | ||||
other comprehensive income | ||||
Debt securities | 17,758,832 | - | - | 17,758,832 |
Equity securities | - | 20,688 | 20,688 | |
Total assets at fair value | 17,758,832 | 2,468,407 | 20,688 | 20,247,927 |
Financial Liabilities | ||||
Derivative financial instruments | - | 27 | - | 27 |
Total liabilities at fair value | - | 27 | - | 27 |
Page 10 of 18
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