THE RIGHT WAY FORWARD
Interim Financial Statements
For the six months ended 30 June 2024 Company Registration Number: PQ 118
Strong 1H 2024 Performance from Nations Trust Bank PLC
- Operating Income of LKR 24 Bn. up 8% YoY
- Profit After Taxes of LKR 8 Bn. up 31% YoY
- Total Capital Adequacy Ratio of 17.83%,
- Return on Equity 24.7%
14th August 2024, Colombo: Nations Trust Bank PLC reported a strong performance in the first half of 2024, achieving a Profit After Tax (PAT) of LKR 8 Bn, up 31% YoY.
Commenting on the results, Hemantha Gunetilleke, Director & Chief Executive Officer of Nations Trust Bank said "The Bank recorded a strong first half, highlighting continued growth across our customer segments. The Bank's strong capital base, healthy liquidity buffers, robust risk management models and continued focus on digital empowerment are the fundamental strengths that continue to drive the Bank's performance."
The bank's financial performance is supported by its strong capital position, with Tier I Capital at 16.62% and a Total Capital Adequacy Ratio of 17.83%, well above the regulatory requirements of 8.5% and 12.5%, respectively.
A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 298% against the regulatory requirement of 100%.
The Bank reported a Return on Equity (ROE) of 24.7%, while its Earnings Per Share for the 1H2024 increased to LKR 24.60, against LKR 18.76 recorded during the same period last year.
Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through multi-channel customer touch points spanning both physical and digital. The Bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka's leading digital banking experience. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.
NATIONS TRUSTBANK PLC
INCOME STATEMENT
Gross Income
Bank | ||
Six Months Ended 30 June | ||
2024 | 2023 | Change |
LKR '000 | LKR '000 | (%) |
39,187,892 | 41,016,006 | (4) |
Quarter ended 30 June
2024 | 2023 | Change |
Rs. '000 | Rs. '000 | (%) |
19,413,339 | 20,323,150 | (4) |
Group | |||||
Six Months Ended 30 June | Quarter ended 30 June | ||||
2024 | 2023 | Change | 2024 | 2023 | Change |
LKR '000 | LKR '000 | (%) | Rs. '000 | Rs. '000 | (%) |
39,306,484 | 41,134,644 | (4) | 19,479,623 | 20,383,667 | (4) |
Interest Income
Less: Interest Expense
Net Interest Income
Fee and Commission Income
Less: Fee and Commission Expense
Net Fee and Commission Income
Net Gains/(Losses) from Trading
Net Fair Value Gains/(Losses) on Financial Assets at Fair Value through Profit or Loss
Net Gains/(Losses) on Derecognition of Financial Assets at Fair Value through Other Comprehensive Income
Net Other Operating Income/(Loss)
Total Operating Income
32,617,758 | 35,923,033 | (9) |
(14,691,104) | (18,354,233) | 20 |
17,926,654 | 17,568,800 | 2 |
4,496,084 | 3,608,307 | 25 |
(244,060) | (185,856) | (31) |
4,252,024 | 3,422,451 | 24 |
(582,600) | (3,603,937) | 84 |
(183,565) | 88,178 | (308) |
(142,456) | 184,122 | (177) |
2,982,671 | 4,816,303 | (38) |
24,252,728 | 22,475,917 | 8 |
15,738,868 | 17,936,734 | (12) |
(6,836,546) | (9,214,646) | 26 |
8,902,322 | 8,722,088 | 2 |
2,313,039 | 1,762,147 | 31 |
(102,227) | (82,760) | (24) |
2,210,812 | 1,679,387 | 32 |
2,214,032 | (1,378,965) | 261 |
(345,365) | 40,844 | (946) |
- | 116,195 | (100) |
(507,235) | 1,846,194 | (127) |
12,474,566 | 11,025,743 | 13 |
32,619,063 | 35,923,033 | (9) |
(14,564,201) | (18,178,258) | 20 |
18,054,862 | 17,744,775 | 2 |
4,613,371 | 3,726,946 | 24 |
(244,060) | (185,859) | (31) |
4,369,311 | 3,541,087 | 23 |
(582,600) | (3,603,937) | 84 |
(183,565) | 88,178 | (308) |
(142,456) | 184,122 | (177) |
2,982,671 | 4,816,303 | (38) |
24,498,223 | 22,770,528 | 8 |
15,740,173 | 17,936,734 | (12) |
(6,777,383) | (9,125,700) | 26 |
8,962,790 | 8,811,034 | 2 |
2,378,018 | 1,822,665 | 30 |
(102,227) | (82,761) | (24) |
2,275,791 | 1,739,904 | 31 |
2,214,032 | (1,378,965) | 261 |
(345,365) | 40,844 | (946) |
- | 116,195 | (100) |
(507,235) | 1,846,194 | (127) |
12,600,013 | 11,175,206 | 13 |
Impairment Charges/(Reversals)
Net Operating Income
Less: Operating Expenses
Personnel Expenses
Depreciation of Property, Plant and Equipment
Depreciation of Right of Use (ROU) Assets
Amortization of Intangible Assets
Other Operating Expenses
Total Operating Expenses
978,294 | 2,960,253 | 67 |
23,274,434 | 19,515,664 | 19 |
3,933,731 | 3,505,320 | (12) |
97,147 | 102,452 | 5 |
241,293 | 242,745 | 1 |
173,570 | 164,706 | (5) |
3,320,722 | 3,110,781 | (7) |
7,766,463 | 7,126,004 | (9) |
419,951 | 854,602 | 51 |
12,054,615 | 10,171,141 | 19 |
1,997,622 | 1,677,787 | (19) |
48,417 | 51,449 | 6 |
120,463 | 119,348 | (1) |
86,885 | 81,661 | (6) |
1,661,294 | 1,569,061 | (6) |
3,914,681 | 3,499,306 | (12) |
978,294 | 2,960,253 | 67 | 419,951 | 854,602 | 51 |
23,519,929 | 19,810,275 | 19 | 12,180,062 | 10,320,604 | 18 |
3,950,164 | 3,523,308 | (12) | 2,006,627 | 1,686,527 | (19) |
119,015 | 124,516 | 4 | 59,350 | 62,476 | 5 |
196,030 | 197,482 | 1 | 97,831 | 96,717 | (1) |
173,632 | 164,769 | (5) | 86,916 | 81,693 | (6) |
3,331,075 | 3,127,884 | (6) | 1,666,413 | 1,579,206 | (6) |
7,769,916 | 7,137,959 | (9) | 3,917,137 | 3,506,619 | (12) |
Operating Profit before Taxes on Financial Services | 15,507,971 | 12,389,660 | 25 |
Less: Taxes on Financial Services | 3,291,861 | 2,777,366 | (19) |
Profit before Income Tax | 12,216,110 | 9,612,294 | 27 |
Less: Income Tax Expense | 4,347,761 | 3,683,404 | (18) |
Profit for the Period | 7,868,349 | 5,928,890 | 33 |
Profit Attributable to: |
8,139,934 | 6,671,835 | 22 |
1,716,203 | 1,447,719 | (19) |
6,423,731 | 5,224,116 | 23 |
2,253,437 | 1,994,367 | (13) |
4,170,294 | 3,229,749 | 29 |
15,750,013 | 12,672,316 | 24 |
3,292,935 | 2,778,787 | (19) |
12,457,078 | 9,893,529 | 26 |
4,431,266 | 3,774,519 | (17) |
8,025,812 | 6,119,010 | 31 |
8,262,925 6,813,985 21
1,716,712 1,448,449 (19)
6,546,213 5,365,536 22
2,296,485 2,039,691 (13)
4,249,728 3,325,845 28
Equity Holders of the Bank | 7,868,349 | 5,928,890 | 33 |
Non-Controlling Interest | - | - | - |
Earnings Per Share | |||
Basic/Diluted Earning Per Share (Rs.) | 24.12 | 18.18 | 33 |
4,170,294 | 3,229,749 | 29 |
- | - | - |
12.78 | 9.90 | 29 |
8,025,812 | 6,119,010 | 31 | 4,249,728 | 3,325,845 | 28 |
- | - | - | - | - | - |
24.60 | 18.76 | 31 | 13.03 | 10.20 | 28 |
NATIONS TRUSTBANK PLC
STATEMENTOF COMPREHENSIVE INCOME
Bank | Group | |||||||||||
Six Months Ended 30 June | Quarter ended 30 June | Six Months Ended 30 June | Quarter ended 30 June | |||||||||
2024 | 2023 | Change | 2024 | 2023 | Change | 2024 | 2023 | Change | 2024 | 2023 | Change | |
LKR '000 | LKR '000 | (%) | Rs. '000 | Rs. '000 | (%) | LKR '000 | LKR '000 | (%) | Rs. '000 | Rs. '000 | (%) | |
Profit for the Period | 7,868,349 | 5,928,890 | 33 | 4,170,294 | 3,229,749 | 29 | 8,025,812 | 6,119,010 | 31 | 4,249,728 | 3,325,845 | 28 |
Other Comprehensive Income/(Expense) that will be Reclassified to Profit or Loss in | ||||||||||||
Subsequent Periods; | ||||||||||||
Debt Instruments at Fair Value through Other Comprehensive Income | ||||||||||||
Net Change in Fair Value during the Period | 1,151,501 | 2,144,337 | (46) | (314,150) | 1,493,302 | (121) | 1,151,501 | 2,144,337 | (46) | (314,150) | 1,493,302 | (121) |
Changes in Impairment for Expected Credit Losses | - | 1,377 | (100) | - | (28,741) | 100 | - | 1,377 | (100) | - | (28,741) | 100 |
Tax (Expenses) / Reversal Relating to the Above | (345,450) | (643,714) | 46 | 94,245 | (439,369) | 121 | (345,450) | (643,714) | 46 | 94,245 | (439,369) | 121 |
806,051 | 1,502,000 | (46) | (219,905) | 1,025,192 | (121) | 806,051 | 1,502,000 | (46) | (219,905) | 1,025,192 | (121) | |
Other Comprehensive Income/(Expense) that will not be Reclassified to Profit or Loss | ||||||||||||
in Subsequent Periods: | ||||||||||||
Total other comprehensive income that will not to be reclassified to profit or loss | - | - | - | - | - | - | - | - | - | - | - | - |
Other Comprehensive Income for the Period, Net of Tax | 806,051 | 1,502,000 | (46) | (219,905) | 1,025,192 | (121) | 806,051 | 1,502,000 | (46) | (219,905) | 1,025,192 | (121) |
Total Comprehensive Income for the Period, Net of Tax | 8,674,400 | 7,430,890 | 17 | 3,950,389 | 4,254,941 | (7) | 8,831,863 | 7,621,010 | 16 | 4,029,823 | 4,351,037 | (7) |
Attributable to: | ||||||||||||
Equity Holders of the Bank | 8,674,400 | 7,430,890 | 17 | 3,950,389 | 4,254,941 | (7) | 8,831,863 | 7,621,010 | 16 | 4,029,823 | 4,351,037 | (7) |
Non-Controlling Interest | - | - | - | - | - | - | - | - | - | - | - | - |
NATIONS TRUST BANK PLC
STATEMENT OF FINANCIAL POSITION
Bank | Group | |||||
As at | 30.06.2024 | 31.12.2023 | Change | 30.06.2024 | 31.12.2023 | Change |
LKR '000 | LKR '000 | % | LKR '000 | LKR '000 | % | |
(Audited) | (Audited) |
ASSETS | |||
Cash and Cash Equivalents | 23,335,640 | 40,179,820 | (42) |
Balances with Central Bank of Sri Lanka | 2,330,365 | 2,683,927 | (13) |
Reverse Repurchase Agreements | - | 1,502,215 | (100) |
Derivative Financial Instruments | 413,560 | 3,660 | 11,199 |
Financial Assets Recognised through Profit or Loss - Measured at Fair Value | 12,085,136 | 10,934,069 | 11 |
Financial Assets at Fair Value through Other Comprehensive Income | 81,091,654 | 79,922,903 | 1 |
Financial Assets at Amortised Cost - Debt Instruments | 91,386,640 | 97,357,849 | (6) |
Financial Assets at Amortised Cost - Loans and Advances | 275,120,824 | 270,944,786 | 2 |
Other Assets | 3,620,522 | 3,352,652 | 8 |
Investments in Subsidiaries | 678,710 | 678,710 | - |
Property, Plant & Equipment | 2,584,175 | 2,597,097 | (0) |
Right of Use (ROU) Assets | 1,309,048 | 1,319,294 | (1) |
Intangible Assets | 1,374,425 | 1,353,420 | 2 |
Deferred Tax Assets | 3,368,488 | 3,334,268 | 1 |
Total Assets | 498,699,187 | 516,164,670 | (3) |
23,335,643 | 40,179,823 | (42) |
2,330,365 | 2,683,927 | (13) |
- | 1,502,215 | (100) |
413,560 | 3,660 | 11,199 |
12,085,136 | 10,934,069 | 11 |
81,091,654 | 79,922,903 | 1 |
91,386,640 | 97,357,849 | (6) |
275,120,824 | 270,944,786 | 2 |
3,639,180 | 3,377,829 | 8 |
- | - | - |
3,465,635 | 3,500,423 | (1) |
1,264,073 | 1,229,055 | 3 |
1,374,856 | 1,353,909 | 2 |
3,176,953 | 3,143,936 | 1 |
498,684,519 | 516,134,384 | (3) |
LIABILITIES | |||
Due to Banks | 17,994,324 | 49,681,663 | (64) |
Derivative Financial Instruments | 384,804 | 658,707 | (42) |
Financial Liabilities at Amortised Cost | |||
Due to Depositors | 351,062,317 | 349,533,404 | 0 |
Repurchase Agreements | 17,965,623 | 7,064,447 | 154 |
Due to Other Borrowers | 13,496,338 | 18,613,640 | (27) |
Debt Securities Issued | 9,136,149 | 8,686,333 | 5 |
Retirement Benefit Obligations | 1,378,664 | 1,242,223 | 11 |
Current Tax Liabilities | 6,321,099 | 5,618,515 | 13 |
Other Liabilities | 14,259,125 | 16,120,684 | (12) |
Total Liabilities | 431,998,443 | 457,219,616 | (6) |
17,994,324 | 49,681,663 | (64) |
384,804 | 658,707 | (42) |
351,057,422 | 347,768,600 | 1 |
15,565,127 | 6,631,325 | 135 |
13,441,681 | 18,500,429 | (27) |
9,136,149 | 8,686,333 | 5 |
1,383,192 | 1,250,916 | 11 |
6,384,457 | 5,667,233 | 13 |
14,298,073 | 16,163,041 | (12) |
429,645,229 | 455,008,247 | (6) |
EQUITY | ||||||
Stated Capital | 12,106,272 | 11,426,882 | 6 | 12,106,272 | 11,426,882 | 6 |
Statutory Reserve Fund | 2,783,805 | 2,783,805 | 0 | 2,783,805 | 2,783,805 | 0 |
Retained Earnings | 46,150,220 | 39,879,971 | 16 | 48,051,148 | 41,623,436 | 15 |
OCI Reserve | 4,714,314 | 3,908,263 | 21 | 4,714,314 | 3,908,263 | 21 |
Revaluation Reserve | 946,133 | 946,133 | - | 1,383,751 | 1,383,751 | - |
Total Shareholders' Equity | 66,700,744 | 58,945,054 | 13 | 69,039,290 | 61,126,137 | 13 |
Total Equity and Liabilities | 498,699,187 | 516,164,670 | (3) | 498,684,519 | 516,134,384 | (3) |
Contingent Liabilities and Commitments | 348,130,364 | 316,741,904 | 10 | 348,130,364 | 316,741,904 | 10 |
Memorandum Information | ||||||
Number of Employees | 2,460 | 2,460 | 2,480 | 2,481 | ||
Number of Branches | 96 | 96 | 96 | 96 | ||
Number of Off-Site ATMs & CRMs | 33 | 37 | 33 | 37 |
CERTIFICATION :
I certify that these financial statements comply with the requirements of the Companies Act No. 07 of 2007.
Sgd.
Ajith Akmeemana
Chief Financial Officer
We, the undersigned being the Chairperson, Director and Director/Chief Executive Officer of Nations Trust Bank PLC certify jointly that:
- the above financial statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka;
- the information contained in these financial statements has been extracted from the unaudited financial statements of the Bank and the Group, unless indicated as audited.
Sgd. | Sgd. | Sgd. |
Sherin Cader | Rachini Rajapaksa | Hemantha D Gunetilleke |
Chairperson | Director | Director/Chief Executive Officer |
14 August 2024 Colombo
NATIONS TRUSTBANK PLC
STATEMENTOF CHANGES IN EQUITY
BANK | Stated Capital | Statutory Reserve | Retained Earnings | OCIReserve | Revaluation | Total | |
Voting | Non-Voting | Fund | Reserve | ||||
LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | |
As at 01 January 2023 | 7,167,872 | 3,233,560 | 2,228,472 | 30,650,134 | 56 | 946,133 | 44,226,227 |
Total Comprehensive Income for the Period | |||||||
Profit for the Period | - | - | - | 5,928,890 | - | - | 5,928,890 |
Other Comprehensive Income | - | - | - | - | 1,502,000 | - | 1,502,000 |
Total Comprehensive Income for the Period | - | - | - | 5,928,890 | 1,502,000 | - | 7,430,890 |
Transactions with Equity Holders, Recognised Directly in Equity | |||||||
Dividend paid for 2022 | 885,820 | 139,630 | - | (1,205,723) | - | - | (180,273) |
Fractions of shares paid in cash for 2022 | - | - | - | (175) | - | - | (175) |
As at 30 June 2023 | 8,053,692 | 3,373,190 | 2,228,472 | 35,373,126 | 1,502,056 | 946,133 | 51,476,669 |
As at 01 January 2024 | 8,053,768 | 3,373,114 | 2,783,805 | 39,879,971 | 3,908,263 | 946,133 | 58,945,054 |
Total Comprehensive Income for the Period | |||||||
Profit for the Period | - | - | - | 7,868,349 | - | - | 7,868,349 |
Other Comprehensive Income | - | - | - | - | 806,051 | - | 806,051 |
Total Comprehensive Income for the Period | - | - | - | 7,868,349 | 806,051 | - | 8,674,400 |
Transactions with Equity Holders, Recognised Directly in Equity | |||||||
Dividend paid for 2023 | 587,203 | 92,187 | - | (1,597,817) | - | - | (918,427) |
Fractions of shares paid in cash for 2023 | - | - | - | (283) | - | - | (283) |
Conversion of Non-Voting Shares to Voting Shares | 1,034 | (1,034) | - | - | - | - | - |
As at 30 June 2024 | 8,642,005 | 3,464,267 | 2,783,805 | 46,150,220 | 4,714,314 | 946,133 | 66,700,744 |
GROUP | Stated Capital | Statutory Reserve | Retained Earnings | OCIReserve | Revaluation | Total | |
Voting | Non-Voting | Fund | Reserve | ||||
LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | |
As at 01 January 2023 | 7,167,872 | 3,233,560 | 2,228,472 | 32,026,947 | 56 | 1,383,751 | 46,040,658 |
Total Comprehensive Income for the Period | |||||||
Profit for the Period | - | - | - | 6,119,010 | - | - | 6,119,010 |
Other Comprehensive Income | - | - | - | - | 1,502,000 | - | 1,502,000 |
Total Comprehensive Income for the Period | - | - | - | 6,119,010 | 1,502,000 | - | 7,621,010 |
Transactions with Equity Holders, Recognised Directly in Equity | |||||||
Dividend paid for 2022 | 885,820 | 139,630 | - | (1,205,723) | - | - | (180,273) |
Fractions of shares paid in cash for 2022 | - | - | - | (175) | - | - | (175) |
As at 30 June 2023 | 8,053,692 | 3,373,190 | 2,228,472 | 36,940,059 | 1,502,056 | 1,383,751 | 53,481,220 |
As at 01 January 2024 | 8,053,768 | 3,373,114 | 2,783,805 | 41,623,436 | 3,908,263 | 1,383,751 | 61,126,137 |
Total Comprehensive Income for the Period | |||||||
Profit for the Period | - | - | - | 8,025,812 | - | - | 8,025,812 |
Other Comprehensive Income | - | - | - | - | 806,051 | - | 806,051 |
Total Comprehensive Income for the Period | - | - | - | 8,025,812 | 806,051 | - | 8,831,863 |
Transactions with Equity Holders, Recognised Directly in Equity | |||||||
Dividend paid for 2023 | 587,203 | 92,187 | - | (1,597,817) | - | - | (918,427) |
Fractions of shares paid in cash for 2023 | - | - | - | (283) | - | - | (283) |
Conversion of Non-Voting Shares to Voting Shares | 1,034 | (1,034) | - | - | - | - | - |
As at 30 June 2024 | 8,642,005 | 3,464,267 | 2,783,805 | 48,051,148 | 4,714,314 | 1,383,751 | 69,039,290 |
NATIONS TRUSTBANK PLC
STATEMENTOF CASH FLOWS
Bank | Group | ||
Six Months ended 30 June | Six Months ended 30 June | ||
2024 | 2023 | 2024 | 2023 |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 |
Cash Flows from Operating Activities | ||
Receipts of Interest Income | 29,310,689 | 43,261,608 |
Payments of Interest Expense | (15,490,855) | (16,533,969) |
Receipts of Fees and Commission Income | 4,476,068 | 3,760,368 |
Payments of Fees and Commission Expense | (244,060) | (553,916) |
Net Trading Income / (Loss) | (1,266,403) | (2,751,917) |
Realised gain on sale of financial assets at FVOCI | (749,805) | 184,122 |
Receipts from Other Operating Income | (206,655) | (4,168,518) |
Gratuity Payments Made | (55,909) | (64,430) |
Payments for Operating Expenses | (7,388,326) | (6,104,792) |
Payments for VAT and SSC on Financial Services | (3,064,777) | (2,790,505) |
Operating Profit before Change in Operating Assets and Liabilities | 5,319,967 | 14,238,051 |
(Increase)/Decrease in Operating Assets | ||
Balances with Central Bank of Sri Lanka | 352,965 | (584,859) |
Reverse Repurchase Agreements | 1,500,000 | 1,500,000 |
Financial Assets - At Fair Value through Profit or Loss | (709,436) | (6,777,706) |
Financial Assets - At Fair Value through Other Comprehensive Income | 2,845,872 | (34,893,911) |
Financial Assets - At Amortized Cost - Debt Instruments | 6,810,196 | (2,676,641) |
Financial Assets - At Amortized Cost - Loans & Advances | (8,088,628) | (5,645,887) |
Other Assets | (319,634) | (853,557) |
(Increase)/Decrease in Operating Assets | 2,391,335 | (49,932,561) |
Increase/(Decrease) in Operating Liabilities | ||
Repurchase Agreements | 10,816,538 | 22,601,172 |
Financial Liabilities - At Amortized Cost - Due to Depositors | 7,171,894 | 14,430,421 |
Money market borrowing | (31,899,217) | (1,522,500) |
Other Liabilities | (1,845,469) | (101,867) |
Increase/(Decrease) in Operating Liabilities | (15,756,254) | 35,407,226 |
Net Cash Generated from Operating Activities before Income Tax | (8,044,952) | (287,285) |
Income Tax Paid | (4,024,847) | (3,899,053) |
Net Cash (Used in)/from Operating Activities | (12,069,799) | (4,186,338) |
Cash Flows from Investing Activities | ||
Purchase of Property, Plant and Equipment | (84,226) | (142,204) |
Purchase of Intangible Assets | (194,575) | (126,408) |
Proceeds from Sale of Property, Plant and Equipment and Intangible Assets | 338 | 194 |
Net Cash (Used in)/from Investing Activities | (278,463) | (268,418) |
Cash Flows from Financing Activities | ||
Receipt in Other Borrowed Funds | 1,018,598 | 804,067 |
Repayment of Other Borrowed Funds | (4,655,518) | (6,674,156) |
Repayment of Debentures | - | (3,500,000) |
Operating Lease Rentals Paid | (347,682) | (315,585) |
Interest Paid on Subordinated Debt | (24,212) | (327,256) |
Dividends Paid to Equity Holders of the Parent | (918,710) | (180,448) |
Net Cash (Used in)/from Financing Activities | (4,927,524) | (10,193,378) |
Net Increase/(Decrease) in Cash and Cash Equivalents | (17,275,786) | (14,648,133) |
Cash and Cash Equivalents at the Beginning of the Period | 39,545,578 | 56,603,146 |
Cash and Cash Equivalents at the End of the Period | 22,269,792 | 41,955,013 |
Reconciliation of Cash and Cash Equivalents | ||
Cash in Hand | 9,677,238 | 9,690,909 |
Balances with Banks | 7,836,272 | 30,688,739 |
Money at Call and Short Notice | 5,826,915 | 2,068,933 |
Deposits from Other Banks | (1,070,633) | (493,568) |
22,269,792 | 41,955,013 |
29,311,994
(15,363,952)
4,593,356
(244,060)
(1,266,403)
(749,805)
(206,655)
36,009
(7,511,194)
(3,065,844)
5,533,446
352,965
1,500,000
(709,436)
2,845,872
6,810,196
(8,088,628)
(319,634)
2,391,335
8,849,165
8,931,803
(31,899,217)
(1,847,526)
(15,965,775)
(8,040,994)
(4,092,509)
(12,133,503)
(84,226)
(194,575)
339
(278,462)
1,018,598
(4,655,518)
-
(283,979)
(24,212)
(918,710)
(4,863,821)
(17,275,786)
39,545,581
22,269,795
9,677,241
7,836,272
5,826,915
(1,070,633)
22,269,795
43,261,608
(16,306,062)
3,879,007
(553,918)
(2,751,917)
184,122
(4,168,324)
(64,430)
(6,139,884)
(2,791,927)
14,548,275
(584,860)
1,500,000
(6,777,706)
(34,893,911)
(2,676,641)
(5,645,887)
(854,811)
(49,933,816)
22,183,936
14,547,568
(1,522,500)
(104,131)
35,104,873
(280,667)
(3,961,586)
(4,242,253)
(142,619)
(126,408)
194
(268,833)
804,067
(6,674,156)
(3,500,000)
(259,120)
(327,256)
(180,448)
(10,136,913)
(14,647,998)
56,603,034
41,955,036
9,690,932
30,688,739
2,068,933
(493,568)
41,955,036
NATIONS TRUSTBANK PLC
ANALYSIS OF LOANS & ADVANCES, COMMITMENTS, CONTINGENCIES AND IMPAIRMENT
(1) Product-wise Gross Loans and Advances | Bank/Group | |
30.06.2024 | 31.12.2023 | |
LKR'000 | LKR '000 | |
(Audited) | ||
Domestic Currency | ||
Bills of Exchange | - | 3,469 |
Trade Finance | 65,538,278 | 67,997,103 |
Overdrafts | 40,064,305 | 42,268,596 |
Term Loans | 83,745,969 | 79,874,154 |
Staff Loans | 3,615,714 | 3,477,105 |
Leases | 23,867,694 | 23,943,559 |
Credit Cards | 24,155,908 | 26,146,932 |
Pawning | 1,741 | 1,741 |
Other Advances | 262,917 | 262,917 |
241,252,526 | 243,975,576 | |
Foreign Currency | ||
Trade Finance | 26,548,212 | 21,402,362 |
Overdrafts | 3,127,978 | 3,307,939 |
Term Loans | 25,746,185 | 23,889,095 |
55,422,375 | 48,599,396 | |
Total | 296,674,901 | 292,574,972 |
(2) Product-wise Commitments and Contingencies | Bank/Group | |
30.06.2024 | 31.12.2023 | |
LKR'000 | LKR '000 | |
(Audited) | ||
Domestic Currency | ||
Guarantees | 1,037,640 | 708,684 |
Bonds | 19,179,694 | 20,090,599 |
Acceptances | 4,221,214 | 3,212,038 |
Letters of Credit | 6,314,456 | 5,140,942 |
Forward Contracts to buy/sell -Fixed Income Securities | 34,179 | 11,951,589 |
Undrawn Credit Lines | 194,534,920 | 156,551,907 |
225,322,103 | 197,655,759 | |
Foreign Currency | ||
Guarantees | 371,904 | 197,234 |
Bonds | 1,163,142 | 2,527,122 |
Acceptances | 909,027 | 972,766 |
Letters of Credit | 871,531 | 692,346 |
Forward Exchange Contracts | 95,275,257 | 88,647,390 |
Undrawn Credit Lines | 24,217,400 | 26,049,287 |
122,808,261 | 119,086,145 | |
Total | 348,130,364 | 316,741,904 |
(3) Stage-wiseImpairment on Loans & Advances, Commitments and | Bank/Group | |
Contingencies | 30.06.2024 | 31.12.2023 |
LKR'000 | LKR '000 | |
(Audited) | ||
Gross Loans and Advances, Commitments and Contingencies | 644,805,265 | 609,316,876 |
(Less): Accumulated impairment under; (Note 3.1) | ||
Stage 1 | (4,141,951) | (3,806,061) |
Stage 2 | (6,153,006) | (6,124,932) |
Stage 3 | (11,968,827) | (12,179,282) |
Net Value of Loans and Advances, Commitments and Contingencies | 622,541,481 | 587,206,601 |
(3.1) Movement in impairment during the period*
Bank/Group
Stage 1
Opening balance as at 01 January Charge/(Write back) to income statement Write-off during the period
Effect on Change in Exchange rates Closing balance
Stage 2
Opening balance as at 01 January Charge/(Write back) to income statement Write-off during the period
Effect on Change in Exchange rates Closing balance
Stage 3
Opening balance as at 01 January Charge/(Write back) to income statement Write-off during the period
Effect on Change in Exchange rates Closing balance
2024 | 2023 |
LKR'000 | LKR '000 |
(Audited) | |
3,806,061 | 2,440,147 |
348,435 | 1,373,590 |
- | - |
(12,545) | (7,676) |
4,141,951 | 3,806,061 |
6,124,932 | 6,983,159 |
62,630 | (795,995) |
- | - |
(34,556) | (62,232) |
6,153,006 | 6,124,932 |
12,179,282 | 10,377,706 |
655,768 | 5,398,226 |
(866,223) | (3,596,650) |
- | - |
11,968,827 | 12,179,282 |
* 2024 reflects the figures for 6 months ended 30.06.2024 and 2023 reflects the figures for 12 months ended 31.12.2023.
NATIONS TRUSTBANK PLC
ANALYSIS OF DEPOSITS
- Due to Depositors -By Product
Bank | Group | |||
30.06.2024 | 31.12.2023 | 30.06.2024 | 31.12.2023 | |
LKR'000 | LKR '000 | LKR'000 | LKR '000 | |
(Audited) | (Audited) | |||
Domestic Currency | ||||
Demand Deposits | 28,919,475 | 28,202,496 | 28,914,580 | 28,198,206 |
Savings Deposits | 56,923,262 | 54,636,158 | 56,923,262 | 54,636,158 |
Time Deposits | 156,981,343 | 149,180,435 | 156,981,343 | 147,419,921 |
242,824,080 | 232,019,089 | 242,819,185 | 230,254,285 | |
Foreign Currency | ||||
Demand Deposits | 4,022,890 | 6,465,710 | 4,022,890 | 6,465,710 |
Savings Deposits | 16,723,192 | 19,297,722 | 16,723,192 | 19,297,722 |
Time Deposits | 87,492,155 | 91,750,883 | 87,492,155 | 91,750,883 |
108,238,237 | 117,514,315 | 108,238,237 | 117,514,315 | |
Total | 351,062,317 | 349,533,404 | 351,057,422 | 347,768,600 |
NATIONS TRUSTBANK PLC
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value of Financial Instruments
Fair Values of Financial Instruments are determined according to the following hierarchy as described below:
Level 1 - quoted market price (unadjusted): financial instruments with quoted prices in active markets
Level 2 - valuation techniques using observable inputs: financial instruments with quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in inactive markets and financial instruments are valued using models where all significant inputs are observable.
Level 3 - valuation techniques with significant unobservable inputs: This category includes all instruments valued using valuation techniques where one or more significant inputs are unobservable.
There were no material changes in the fair value of financial assets categorised under Level 3 compared to the values reported as at 31 December 2023. The Group has not changed the valuation models and assumptions used to measure the fair values of Level 03 financial instruments during the period ended 30 June 2024.
Financial Instruments Carried at Fair Value | ||||||||||
Bank/Group | As at 30.06.2024 | As at 31.12.2023 (Audited) | ||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||
LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | |||
Financial Assets Measured at Fair Value | ||||||||||
Derivative Financial Instruments | - | 413,560 | - | 413,560 | - | 3,660 | - | 3,660 | ||
Financial Assets at Fair Value through Profit or Loss | 6,617,546 | 5,467,590 | - | 12,085,136 | 2,809,736 | 8,124,333 | - | 10,934,069 | ||
Financial Assets at Fair Value through Other Comprehensive Income | 55,368,114 | 25,556,213 | 167,327 | 81,091,654 | 64,720,703 | 15,177,671 | 24,529 | 79,922,903 | ||
61,985,660 | 31,437,363 | 167,327 | 93,590,350 | 67,530,439 | 23,305,664 | 24,529 | 90,860,632 | |||
Financial Liabilities | ||||||||||
Derivative Financial Instruments | - | 384,804 | - | 384,804 | - | 658,707 | - | 658,707 | ||
- | 384,804 | - | 384,804 | - | 658,707 | - | 658,707 | |||
Fair Value of Financial Instruments Carried at Amortised Cost | ||||||||||
Bank | As at 30.06.2024 | As at 31.12.2023 (Audited) | ||||||||
Amortised | Level 1 | Level 2 | Level 3 | Total Fair | Amortised | Level 1 | Level 2 | Level 3 | Total Fair | |
Cost | Value | Cost | Value | |||||||
LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | |
Financial Assets | ||||||||||
Debt Instruments | 91,386,640 | 34,032,394 | 71,374,508 | - | 105,406,902 | 97,357,849 | 39,459,011 | 67,973,263 | - | 107,432,274 |
Loans and Advances to Customers- Gross | 296,674,901 | - | 298,749,491 | - | 298,749,491 | 292,574,972 | - | 291,467,645 | - | 291,467,645 |
388,061,541 | 34,032,394 | 370,123,999 | - | 404,156,393 | 389,932,821 | 39,459,011 | 359,440,908 | - | 398,899,919 | |
Financial Liabilities | ||||||||||
Due to Customers | 351,062,317 | - | 352,663,546 | - | 352,663,546 | 349,533,404 | - | 348,296,525 | - | 348,296,525 |
Due to Other Borrowers | 13,496,338 | - | 13,496,338 | - | 13,496,338 | 18,613,640 | - | 18,605,408 | - | 18,605,408 |
Debt Securities Issued | 9,136,149 | - | 9,560,307 | - | 9,560,307 | 8,686,333 | - | 8,155,431 | - | 8,155,431 |
373,694,804 | - | 375,720,191 | - | 375,720,191 | 376,833,377 | - | 375,057,364 | - | 375,057,364 | |
Group | As at 30.06.2024 | As at 31.12.2023 (Audited) | ||||||||
Amortised | Level 1 | Level 2 | Level 3 | Total Fair | Amortised | Level 1 | Level 2 | Level 3 | Total Fair | |
Cost | Value | Cost | Value | |||||||
LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | LKR '000 | |
Financial Assets | ||||||||||
Debt Instruments | 91,386,640 | 34,032,394 | 71,374,508 | - | 105,406,902 | 97,357,849 | 39,459,011 | 67,973,263 | - | 107,432,274 |
Loans and Advances to Customers- Gross | 296,674,901 | - | 298,749,491 | - | 298,749,491 | 292,574,972 | - | 291,467,645 | - | 291,467,645 |
388,061,541 | 34,032,394 | 370,123,999 | - | 404,156,393 | 389,932,821 | 39,459,011 | 359,440,908 | - | 398,899,919 | |
Financial Liabilities | ||||||||||
Due to Customers | 351,057,422 | - | 352,658,652 | - | 352,658,652 | 347,768,600 | - | 346,531,722 | - | 346,531,722 |
Due to Other Borrowers | 13,441,681 | - | 13,496,338 | - | 13,496,338 | 18,500,429 | - | 18,489,124 | - | 18,489,124 |
Debt Securities Issued | 9,136,149 | - | 9,560,307 | - | 9,560,307 | 8,686,333 | - | 8,155,431 | - | 8,155,431 |
373,635,252 | - | 375,715,297 | - | 375,715,297 | 374,955,362 | - | 373,176,277 | - | 373,176,277 |
Assets and Liabilities where fair value approximates carrying value
For below listed financial assets and liabilities with short-term maturities or with short-termre-pricing intervals, it is assumed that the carrying amounts approximate to their fair value.
Financial Assets | Financial Liabilities |
Cash and Cash equivalents | Due to banks |
Balances with Central Bank of Sri Lanka | Repurchase agreements |
Reverse Repurchase Agreements | |
Sri Lanka Development Bonds, net of impairment |
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