Errata to the annual report 2024

HDFC BANK

‌The Bank for Your Home

HDFC BANK

Yhe Bank for Your Home

Phone : D11-2356800, 4356800, 2446241 Fax : 011-2358858, 2350827, 2440392 E•mall : hdfc@hE.Ik web :https://www.hulk

12th June 2025

Mr. Renuke Wijayawardhane Chief Regulatory Officer

The Colombo Stock Exchange 4th Floor, World Trade Centre Echelon Square

Colombo-01.

Dear Sir,

ERRATA - ANNUAL FINANCIAL STATEMENTS AS AT 31ST DECEMBER 2024

We refer to the Annual Financial statements as of 31•' December 2024 published recently and write to inform you that Note No: 53 of page 254 of the said financials carried inadvertent error under income statement, the years printed should be rectified as 2023 in both columns "Reported Previously" and "Current Presentation" instead of 2022.

Whilst regretting the errors, we take every efforts to avoid this type of errors.

Yours faithfully,

HDFC BANK OF SRI LANKA

ANURA HETTIARACHCHI CHIEF FHANICAL OFFICER

C. R. P. BALASURIYA

ACTG. GENERAL MAFJAGER / CEO

‌254

1. RESTATEMENT OF COMPARATIVES

   In the year 2017 to 2022 & 2023 penalty interest over charged by the bank Rs. 58 mn & 150 mn reveresd from the respective financial statemets and restated accordingly.

   Effect of restatement for the year ended 31 December 2022 and 31 December 2023 on the income statement and the statement of financial position on the financial statements of HDFC Bank of Sri Lanka are as follows:

   STATEMENT OF FINANCIAL POSITION Reported Previously 2022 Impact Current Presentation 2022 Reported Previously 2023 Impact Current Presentation 2023 In Rs. Mn (Rs. Mn) (Rs. Mn) (Rs. Mn) (Rs. Mn) (Rs. Mn) (Rs. Mn)

   Assets

   Financial assets at amortised cost

   - loans and advances	42,630	58	42,572	41,218	208	41,010
   Liabilities
   Current tax liabilities	260		260	619	45	574
   Other liabilities	299		299	341	31	310
   Equity
   Total shareholders' equity	6,716	58	6,658	8,128	132	7,995
   INCOME STATEMENT
   	Reported Previously 2023	Impact	Current Presentation 2023
   In Rs. Mn	(Rs. Mn)	(Rs. Mn)	(Rs. Mn)
   Interest Income	11,345	150	11,195
   Tax on Financial Services	646	31	616
   Income Tax expenses / (Reversal)	777	45	732
   Profit for the year	1,376	74	1,302

2. FINANCIAL RISK MANAGEMENT
   1. INTRODUCTION AND OVERVIEW

      The Bank has exposure to the following risks from financial instruments:

      • Credit Risk

      • Liquidity risk

      • Market risk

      • Operational risk

      1. RISK MANAGEMENT FRAMEWORK

The Board of Directors has overall responsibility for the establishment and oversight of the Banks' risk management framework. The Board discharges its governance responsibility through the Board Integrated Risk Management Committee, the Board Audit

Committee and the Board Credit Committee. Board Integrated Risk Management Committee consists of non-executive members who report regularly to the Board of Directors on their activities. There are several executive management sub committees such Asset and Liability Committee (ALCO), Executive Credit Management Committee and IT Steering Committee, which focus on specialised risk areas that support the Board Integrated Risk Management Committee.

The Bank's risk management policies are established to identify and analyse the risks faced by the Bank, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to

HDFC BANK OF SRI LANKA | Annual Report 2024