Interim Financial Statements as at 30 06 2024

Quarter ended

Quarter ended

Period ended

Period ended

Item

30th June 2024

30th June

30th June

30th June

2023

2024

2023

Rs "000"

Rs "000"

LKR "000"

LKR "000"

Interest Income

2,146,192

3,030,251

4,461,232

5,903,660

Interest Expenses

1,360,817

2,482,963

2,897,357

4,876,237

Net Interest Income

785,375

547,288

1,563,875

1,027,423

Fee and Commission Income

77,549

73,401

177,742

155,135

Less : Fee and Commission Expenses

-

-

-

-

Net fee and Commission Income

77,549

73,401

177,742

155,135

Net Trading income

-

-

-

-

Net gains/(losses) on financial assets at fair value through profit or loss

-

-

-

-

Net gains/(losses) on financial liabilities at fair value through profit or loss

-

-

-

-

Net gains/(losses) on derecognition of financial assets measured at fair value

-

-

-

-

through other comprehensive income

Net gains/(losses) on derecognition and Disposal of financial assets measured at

-

58,455

-

58,455

amortised cost

Other Operating Income

Total Operating Income

862,924

679,143

1,741,618

1,241,012

Impairment Charge/(Reversal)

4,131

73,034

42,593

41,643

Net Operating Income

858,793

606,109

1,699,024

1,199,369

Personnel Expenses

318,433

400,856

772,027

806,646

Depreciation and Amortisation

43,931

45,205

88,027

88,895

Other expenses

157,928

134,193

295,429

261,505

Operating Profit before VAT & SSCL

338,500

25,855

543,540

42,323

Less : VAT On Financial Services & SSCL

110,773

72,638

221,534

144,496

Operating Profit after VAT & SSCL

227,727

(46,783)

322,006

(102,173)

Shares of Profit of associates and joint ventures

-

-

-

-

Profit before Tax

227,727

(46,783)

322,006

(102,173)

Income tax expenses

98,301

(1,885)

134,156

18,830

Profit for the period

129,426

(44,897)

187,850

(121,003)

Profit attributable to:

129,426

(44,897)

187,850

(121,003)

Equity holders of the parent

Non- controlling interests

-

-

-

-

Earning per share on profit

2.00

(0.69)

2.90

(1.87)

Basic Earnings per Ordinary Share (Rs)

Quarter ended

Quarter ended

Period ended

Period ended

Item

30th June 2024

30th June

30th June

30th June

2023

2024

2023

Rs "000"

Rs "000"

LKR "000"

LKR "000"

Profit/(Loss) for the period

129,426

(44,897)

187,850

(121,003)

Items that will be reclassified to income statement

Debt instruments at fair value through other Comprehensive Income

(14,567)

-

(19,808)

-

Gain/(Loss) arising on re-measurement

Deferred tax effect on the above

4,370

-

5,943

-

NetItemsotherthatcomprehensivewill not be reclassifiedincome to beto incomereclassifiedstatementto profit or loss

(10,197)

-

(13,866)

-

Re-measurement of post-employment benefit obligations

Less: Tax expense relating to items that will not be reclassified to income

statement

-

-

-

Net other comprehensive income not to be reclassified to profit or loss

Total other comprehensive income (OCI) for the period net of tax

(10,197)

(13,866)

Total comprehensive income net of tax as at 31 Mar

119,229

(44,897)

173,984

(121,003)

Attributable to

119,229

(44,897)

173,984

(121,003)

Equity Holders of the Parent

Non - Controlling Interest

-

-

-

-

119,229

(44,897)

173,984

(121,003)

30.06.2024

31.12.2023

Item

LKR "000"

LKR "000"

Audited

Assets

294,636

237,282

Cash and Cash Equivalents

Balance with Central Bank

-

-

Placements with banks

Financial assets recognized through Profit or Loss

3,468,243

33,314

measured at fair value

-

-

designated at fair value

Financial assets at amortised cost

-

-

loans and advances

41,046,586

41,217,714

debt and other instruments

3,461,149

7,162,774

Financial assets measured at fair value through other comprehensive income

15,171,281

16,814,672

Property, plant and equipment

211,629

222,575

Right of uese assets

264,002

304,420

Investment properties

1,284,000

1,284,000

Goodwill and intangible assets

80,339

101,895

Deferred tax assets

487,323

458,743

Other assets

99,409

103,719

Total Assets

65,868,596

67,941,107

Liabilities

396,108

799,830

Due to banks

Derivative financial instruments

-

-

Financial liabilities at amortised cost

52,022,702

53,613,104

due to depositors

due to other borrowers

1,591,661

1,525,527

Debt securities issued

1,510,373

1,425,439

Lease Liability

298,880

335,679

Retirement benefit obligations

906,900

872,628

Current tax liabilities

204,187

618,798

Other liabilities

339,179

341,022

Total Liabilities

57,269,991

59,532,026

Capital

296,790

281,250

AT ‐ 1 Capital

Perpetual Bond

Total AT ‐ 1 Capital

296,790

281,250

Equity Capital

962,093

962,093

Stated capital/Assigned capital

Statutory reserve fund

357,507

357,507

OCI reserve

(24,823)

(10,957)

Retain Earnings

6,365,623

6,177,773

Other Reserves

641,416

641,416

Non-controlling Interest

-

-

Total Equity Capital

8,301,816

8,127,832

Total shareholders' equity and AT‐1 Capital

8,598,605

8,409,082

Total Liabilities and Equity

65,868,596

67,941,107

Contingent liabilities and commitments

340,598

305,616

Net Assets value per Ordinary Share (Rs)

128.29

125.60

Memorandum information

511

515

Number of employees

Number of Branches

39

39

Attributable to equity holders of the bank

LKR (000)

Stated

Non‐

Item

Statutory

OCI

Capital

Retained

Other

Total

Controll

Reserve

Reserve

Total Equity

Fund

Earnings

Reserves

ing

Voting Share

Interest

Balance as at 01/01/2023

962,093

288,689

(46,022)

5,007,868

503,780

6,716,407

-

6,716,407

Profit/(Loss) for the Period

-

-

-

(121,003)

-

(121,003)

-

(121,003)

Other Comprehensive income (net of tax)

-

-

-

-

-

-

-

-

Share issue/increase of Assigned Capital

-

-

-

-

-

Bonus issue

-

-

-

-

-

-

-

-

Right issue

-

-

-

-

-

-

-

-

Transfer to Reserves during the period

-

-

-

-

-

-

-

-

Dividend paid

-

-

-

-

-

Profit transferred to head office

-

-

-

-

-

-

-

-

Gain/(loss) on revaluation of Property Plant and

-

-

-

-

-

-

-

-

Equipment

Others

-

-

-

-

-

-

-

-

Balance as at 30/06/2023

962,093

288,689

(46,022)

4,886,864

503,780

6,595,404

‐

6,595,404

Attributable to equity holders of the bank

LKR (000)

Stated

OCI

Non‐

Item

Capital

Statutory

Retained

Other

Controll

Ordinary

Reserve

Total

Total Equity

Reserve

Earnings

Reserves

ing

Voting

Fund

Shares

Interest

Balance as at 01/01/2024

962,093

357,507

(10,957)

6,177,773

641,416

8,127,832

-

8,127,832

Profit/(Loss) for the Period

-

-

-

187,850

-

187,850

187,850

Other Comprehensive income (net of tax)

-

-

(13,866)

-

-

(13,866)

-

(13,866)

Share issue/increase of Assigned Capital

-

-

-

-

-

-

-

-

Bonus issue

-

-

-

-

-

-

-

-

Right issue

-

-

-

-

-

-

-

-

Transfer to Reserves during the period

-

-

-

-

-

-

-

-

Dividend paid

-

-

-

-

-

-

-

-

Profit transferred to head office

-

-

-

-

-

-

-

-

Others

-

-

-

-

-

-

-

-

Balance as at 30/06/2024

962,093

357,507

(24,823)

6,365,623

641,416

8,301,816

‐

8,301,816

Statement Of Cash Flows

For the period ended 30th June 2024

Rs 000

Bank

For the period ended 30th June 2024

2024

2023

Cash Flows From Operating Activities

3,530,059

6,085,339

Interest Receipts

Interest payments

(2,994,156)

(4,319,462)

Net commission Receipts

139,108

133,448

Payments to Employee

(757,088)

(698,959)

VAT, CROP & SSCL payments

(250,515)

(143,060)

Receipt from other operating activities

27,814

49,754

Payments on other operating activities

(330,992)

(260,590)

Operating profit before changes in operating assets

(635,769)

846,470

(Increase)/Decrease In Operating Assets :

1,080,068

1,998,959

Financial Assets at amotised cost - Loans and Advances

Other Assets

4,310

(857,893)

Increase / ( Decrease ) In Operating Liabilities

1,084,378

1,141,066

Financial Liabilities at amotised cost - due to Depositors

(1,373,091)

5,354,368

Financial Liabilities at amotised cost - due to Other Borrowers

(376,928)

704,304

Other Liabilities

8,611

58,401

(1,741,408)

6,117,072

Net cash from operating activities before income tax

(1,292,799)

8,104,609

Income Tax Paid

(549,513)

(49,266)

Net cash from operating activities

(1,842,312)

8,055,343

Cash Flows From Investing Activities

(15,082)

(26,676)

Purchase of property, plant and equipment /Intangible Assets

Proceeds from Sale property, Plant and equipment/Intangible

Assets

1,914,748

(8,137,751)

Net Cash flows from Investments

Dividends received from investments in subsidiareis & associates

Net cash from Investing activities

1,899,667

(8,164,427)

Cash Flows From Financing Activities

Dividends paid to shareholders

Net cash from financing activities

Net increase/(decrease) in cash & cash Equivalents

57,354

(109,084)

Cash & cash equivalents at beginning of the period

237,282

339,730

Cash & cash equivalents at the end of the period

294,636

230,646

Reconciliation Of Cash and Cash Equivalents

142,114

187,243

Cash In Hand

Cash at Bank

152,522

43,403

294,636

230,646

Fair value

Fair Value

Description

Amortised Cost

through Profit

through Other

Total

(AC)

or

Comprehensive

Loss (FVTPL)

Income (FVOCI)

ASSETS

294,636

-

-

294,636

Cash and cash equivalents

Placements with banks

3,468,243

-

-

3,468,243

Loans and advances

41,046,586

-

-

41,046,586

Debt and other instruments

3,461,149

-

-

3,461,149

Financial Assets - FVTOCI

-

-

15,171,281

15,171,281

Total financial assets

48,270,613

-

‐

63,441,894

Other Assets

-

-

-

2,426,702

Total assets

48,270,613

-

‐

65,868,596

Fair value

Description

Amortised Cost

through Profit

Total

(AC)

or

Loss (FVTPL)

LIABILITIES

396,108

-

396,108

Due to banks

Financial liabilities to Amortise cost

52,022,702

-

52,022,702

- due to depositors

- due to debt security holders

1,510,373

-

1,510,373

- due to other borrowers

1,888,451

-

1,888,451

Total financial liabilities

55,817,635

‐

55,817,635

Other Liabilities

-

-

1,749,145

Equity

-

-

8,301,816

Total liabilities & Equities

55,817,635

‐

65,868,596

Fair value

Fair Value

Amortised Cost

through Profit

through Other

Total

In LKR"000"

(AC)

or

Comprehensive

Loss (FVTPL)

Income (FVOCI)

ASSETS

237,282

-

-

237,282

Cash and cash equivalents

Placements with banks

33,314

-

-

33,314

Loans and advances

41,217,714

-

-

41,217,714

Debt and other instruments

7,162,774

-

-

7,162,774

Financial Assets - FVTOCI

-

-

16,814,672

16,814,672

Total financial assets

48,651,084

16,814,672

65,465,755

Other Assets

2,475,352

Total assets

48,651,084

‐

16,814,672

67,941,107

Fair value

In LKR"000"

Amortised Cost

through Profit

Total

(AC)

or

Loss (FVTPL)

LIABILITIES

799,830

-

799,830

Due to banks

Financial liabilities to Amortise cost

-

-

-

- due to depositors

53,613,104

-

53,613,104

- due to debt security holders

1,425,439

-

1,425,439

- due to other borrowers

1,806,777

-

1,806,777

Total financial liabilities

57,645,149

‐

57,645,149

Other Liabilities

-

-

2,168,127

Equity

-

8,127,832

Total liabilities & Equities

57,645,149

‐

67,941,107

As at

As at

30.06.2024

31.12.2023

Product ‐ Wise Gross Loans & Advances

(Audited)

By Products ‐ Domestic Currency

9,587,822

10,044,132

Housing Loans Secured by Primary Mortgage Over Residential Properties

Housing Loans Against EPF.

Housing Loans on Guarantors & Others

14,921,791

14,997,401

Gold Loans

5,521,383

6,085,407

Business Loans

1,250,746

927,038

Lease Rentals receivables

2,208,773

2,520,774

Hire Purchase

640,001

619,035

Staff Loans

2,523

2,523

Cash Margin Loans

1,693,585

1,713,215

Interest & Other Receivables

2,728,771

2,729,933

5,045,285

4,091,068

Sub Total

43,600,679

43,730,525

By Products - Foreign Currency

-

-

Total

43,600,679

43,730,525

Product ‐Wise Commitments and Contingencies

By Product‐Domestic Currency

8,720

3,720

Guarantees

‐

‐

Bonds

331,878

301,896

Undrawn credit lines

Sub Total

340,598

305,616

By product - Foreign currency

-

-

Total

340,598

305,616

Stage‐wise impairment on loans & advances, commitments and

As at

contingencies

As at

31.12.2023

30.06.2024

Audited

Gross loans and advances, commitments and

contingencies

43,941,277

44,036,141

Less: Accumulated impairment under stage 1

250,717

284,953

Accumulated impairment under stage 2

286,073

279,677

Accumulated impairment under stage 3

2,017,303

1,948,181

Total Impairment

2,554,093

2,512,811

Net value of loans and advances, commitments and

contingencies

41,387,184

41,523,330