Seylan Bank PLC
Interim Financial Statements
For the 09 Months Ended 30th September 2024
Seylan Bank records a PAT of LKR 6.59 Bn.
- Profit before Income Tax - LKR 10,608 Mn up by 47.72%
- Profit after Tax - LKR 6,593 Mn up by 46.65%
- Liquidity Coverage Ratio (LCR) - All Currency of 442.64% and Rupee of 509.82%
- Total Capital Adequacy Ratio of 17.05%
- Impaired Loan (Stage 3) Ratio 3.05%
Seylan Bank recorded a Profit after Tax of LKR 6,593 Mn for the 9 months ended 30 September 2024 with a growth of 46.65% against LKR 4,496 Mn reported in the corresponding period of 2023 despite a challenging environment.
Seylan Bank recorded a Profit before Tax (PBT) of LKR 10,608 Mn for the 9 months ended 30 September 2024, against LKR 7,181 Mn reported in the corresponding period of 2023 demonstrating a growth of 47.72%.
Statement of Financial Performance
Net Interest income decreased from LKR 30,554 Million to LKR 27,262 Million, a reduction of 10.77% compared with the previous year for the 9 months ended 30 September 2024, corresponding to reduction in Net Interest Margin from 5.76% in 2023 to 5.03% in Q3 2024.The Bank's net fee based income recorded a growth of 8.10% from LKR 5,392 Million to LKR 5,829 Million during 9 months ended 30 September 2024, mainly due to increase in income from Cards, Remittances and other services relating to lending.
The Bank's total operating income was at LKR 34,264 Mn, a decrease of 8.32% compared to LKR 37,373 Mn recorded in the corresponding period of 2023, driven mainly by the contraction of net interest margins during 2024.
Total Operating Expenses recorded an increase of 13.20% from LKR 13,846 Million to LKR 15,674 Million for the 9 months ended 30 September 2024. Personnel expenses increased by 1,068 Million mainly due to increase in the staff benefits based on the collective agreement. Other Operating expenses (excluding depreciation and amortization expenses) too increased by 12.75% due to increase in prices of consumables and services over the period. The Bank continues to take relevant measures to curtail costs through cost reduction initiatives.
The Bank recorded an impairment charge of LKR 4,150 Mn during the 9 months ended 30 September 2024 against LKR 13,447 Mn reported in corresponding period of 2023 with a reduction of 69.14%, mainly due to enhanced credit quality and strong recovery initiatives. The impairment charge on Loans and Advances amounts to LKR 4,189 Mn (2023 - LKR 11,912 Mn) and impairment reversal on other instruments LKR 39 Mn (2023 - 1,535 Mn) for the 9 months ended 30 September 2024. The Bank has ensured the impairment provision is made to capture the changes in global & local economy, credit risk profile of customers and credit quality of the Bank's loan portfolio in order to ensure adequacy of provisions recognized in the financial statements.
Income tax expenses stood at LKR 4,015 Mn which is a 49.51% increase over the comparative period, which stood at LKR 2,685 Mn due to increase in profits. Value Added Tax on Financial Services increased for the 9 months from LKR 2,544 Mn to LKR 3,365 Mn in 2024 which is a 32.28% over the corresponding period in 2023. Social Security Contribution Levy increased for the nine months from LKR 355 Mn to LKR 467 Mn in 2024 which is a 31.70% increase over the corresponding period in 2023.
Overall, Bank recorded a Profit before Income Tax (PBT) of LKR 10,608 Mn in 9 months ended 30 September 2024, against LKR 7,181 Mn reported in corresponding period in 2023 demonstrating a growth of 47.72%. Similarly, Profit after Tax (PAT) was recorded as LKR 6,593 Mn in the 9 months ended 30 September 2024 with a growth of 46.65% over the corresponding period in 2023.
Statement of Financial Position
The Bank's Total Assets were recorded at LKR 734 Bn as of 30 September 2024. Loans and Advances net of Impairment were recorded at LKR 442 Bn. Local currency Loans and Advances (Gross) increased by LKR 8 Bn, while foreign currency Loans and Advances (Gross) contracted by LKR 1 Bn partly due to local currency appreciation. Customer Deposits were recorded at LKR 598 Bn as of 30 September 2024. Local currency deposits increased by LKR 15.47 Bn, while foreign currency deposits contracted by LKR 8.39 Bn again mainly due to the local currency appreciation.
Key financial ratios and indicators
Key financial ratios and indicators of Seylan Bank PLC remained healthy as of 30 September 2024. The capital adequacy ratios were well above the regulatory minimum requirements and recorded 12.25% as Common Equity Tier 1 Capital Ratio & Total Tier 1 Capital Ratio and 17.05% as the Total Capital Ratio.
All Currency Liquidity Coverage Ratio and the Rupee Liquidity Coverage Ratio were maintained at 442.64% and 509.82% respectively, which is well above the regulatory minimum requirements. Bank's Net Stable Funding Ratio as at 30 September 2024 stood at 139.50%.
The Bank's Asset Quality Ratio of Impaired Loan (Stage 3) Ratio as at 30 September 2024 stood at 3.05% (2023 - 3.85%).Impairment (Stage 3) to Stage 3 Loans Ratio, which is considered the Stage 3 Provision Cover Ratio was recorded at a healthy 72.85% (2023 - 68.29%), well above the industry average of 51% indicating prudent provisioning adopted by the Bank.
The Return on Equity (ROE) stood at 13.87% (2023 - 10.88%) and Return on Average Assets (profit before tax) stood at 1.96% (2023 - 1.45%) for the period under review, recording a significant improvement over last year.
The Bank's Earnings per Share stood at LKR 10.37 for the 9 months ended 30 September 2024 compared to LKR 7.07 reported in corresponding period of the previous year. The Bank's Net Assets Value per Share stood at LKR 104.22 as at 30 September 2024 (Group LKR 107.36).
The Bank opened 29 "Seylan Pahasara Libraries" during the 9 months ended 30 September 2024 taking the total number to 254 libraries, clearly signifying the Bank's commitment to foster education and support children across the island.
Seylan Bank PLC
Income Statement
(In terms of Rule 7.4 of the Colombo Stock Exchange)
Bank
(Amounts in Rupees Thousands)
Bank
For the Nine Months Ended
30th September
For the Quarter Ended
30th September
2024 | 2023 | Growth | |
% | |||
Interest Income | 63,696,556 | 82,767,758 | (23.04) |
Less : Interest Expenses | 36,434,750 | 52,214,122 | (30.22) |
Net Interest Income | 27,261,806 | 30,553,636 | (10.77) |
Fee and Commission Income | 6,055,812 | 5,595,064 | 8.23 |
Less : Fee and Commission Expenses | 227,235 | 203,072 | 11.90 |
Net Fee and Commission Income | 5,828,577 | 5,391,992 | 8.10 |
Net Gains/(Losses) from Trading | 189,200 | 292,240 | (35.26) |
Net Gains from Derecognition of Financial Assets | 228,446 | 119,423 | 91.29 |
Net Other Operating Income | 755,563 | 1,015,755 | (25.62) |
Total Operating Income | 34,263,592 | 37,373,046 | (8.32) |
Less : Impairment Charges | 4,149,782 | 13,446,929 | (69.14) |
Net Operating Income | 30,113,810 | 23,926,117 | 25.86 |
Less : Operating Expenses | |||
Personnel Expenses | 8,085,327 | 7,017,156 | 15.22 |
Depreciation and Amortization Expenses | 982,329 | 970,139 | 1.26 |
Other Expenses | 6,605,942 | 5,859,065 | 12.75 |
Total Operating Expenses | 15,673,598 | 13,846,360 | 13.20 |
Operating Profit before Taxes | 14,440,212 | 10,079,757 | 43.26 |
Less : Value Added Tax on Financial Services | 3,364,804 | 2,543,783 | 32.28 |
Less : Social Security Contribution Levy | 467,331 | 354,846 | 31.70 |
Profit before Income Tax | 10,608,077 | 7,181,128 | 47.72 |
Less : Income Tax Expense | 4,014,990 | 2,685,415 | 49.51 |
Profit for the Period | 6,593,087 | 4,495,713 | 46.65 |
Basic/Diluted Earnings per Ordinary Share (Rs.) | 10.37 | 7.07 | 46.68 |
2024 | 2023 | Growth |
% | ||
19,750,787 | 26,712,335 | (26.06) |
11,079,026 | 16,626,939 | (33.37) |
8,671,761 | 10,085,396 | (14.02) |
2,169,553 | 1,945,255 | 11.53 |
79,878 | 70,890 | 12.68 |
2,089,675 | 1,874,365 | 11.49 |
37,595 | (8,156) | 560.95 |
15,869 | 88,225 | (82.01) |
169,329 | 721,914 | (76.54) |
10,984,229 | 12,761,744 | (13.93) |
1,194,117 | 3,887,935 | (69.29) |
9,790,112 | 8,873,809 | 10.33 |
2,713,586 | 2,491,257 | 8.92 |
335,237 | 318,665 | 5.20 |
2,236,482 | 1,908,165 | 17.21 |
5,285,305 | 4,718,087 | 12.02 |
4,504,807 | 4,155,722 | 8.40 |
4,504,807 | 4,155,722 | |
1,078,399 | 992,925 | 8.61 |
149,772 | 138,921 | 7.81 |
3,276,636 | 3,023,876 | 8.36 |
3,276,636 | 3,023,876 | |
1,241,879 | 1,103,604 | 12.53 |
2,034,757 | 1,920,272 | 5.96 |
3.20 | 3.02 | 5.96 |
1
Seylan Bank PLC
Statement of Profit or Loss and Other Comprehensive Income
(In terms of Rule 7.4 of the Colombo Stock Exchange)
Bank | |||
For the Nine Months Ended | |||
30th September | |||
2024 | 2023 | Growth | |
% | |||
Profit for the Period | 6,593,087 | 4,495,713 | 46.65 |
Other Comprehensive Income/ (Loss), Net of Tax | |||
Items that are or may be Reclassified to Income | |||
Statement in Subsequent Periods | |||
Net Gains/(Losses) on Investments in Debt Instruments | |||
measured at Fair Value through Other Comprehensive | (202,114) | 1,134,292 | (117.82) |
Income | |||
Deferred Tax effect relating to items that are or may | 61,504 | (340,288) | 118.07 |
be Reclassified to Income Statement | |||
Items that will never be Reclassified to Income | |||
Statement in Subsequent Periods | |||
Change in Fair Value on Investments in Equity | |||
Instruments measured at Fair Value through Other | 44,392 | 362,270 | (87.75) |
Comprehensive Income | |||
Deferred Tax effect relating to items that will never be | - | - | - |
Reclassified to Income Statement | |||
Other Comprehensive Income/ (Loss) for the Period, | |||
Net of Taxes | (96,218) | 1,156,274 | (108.32) |
Total Comprehensive Income for the Period | 6,496,869 | 5,651,987 | 14.95 |
(Amounts in Rupees Thousands)
Bank
For the Quarter Ended
30th September
2024 | 2023 | Growth |
% | ||
2,034,757 | 1,920,272 | 5.96 |
(331,431) | 564,114 | (158.75) |
100,299 | (169,234) | 159.27 |
7,582 | 252,412 | (97.00) |
- | - | - |
(223,550) | 647,292 | (134.54) |
1,811,207 | 2,567,564 | (29.46) |
2
Seylan Bank PLC
Income Statement
(In terms of Rule 7.4 of the Colombo Stock Exchange)
Group
For the Nine Months Ended
30th September
(Amounts in Rupees Thousands )
Group
For the Quarter Ended
30th September
2024 | 2023 | Growth | 2024 | 2023 | Growth | ||
% | % | ||||||
Interest Income | 63,741,790 | 82,835,227 | (23.05) | 19,763,721 | 26,735,484 | (26.08) | |
Less : Interest Expenses | 36,195,703 | 51,986,866 | (30.38) | 11,002,950 | 16,552,542 | (33.53) | |
Net Interest Income | 27,546,087 | 30,848,361 | (10.70) | 8,760,771 | 10,182,942 | (13.97) | |
Fee and Commission Income | 6,055,591 | 5,594,918 | 8.23 | 2,169,446 | 1,945,240 | 11.53 | |
Less : Fee and Commission Expenses | 227,785 | 205,073 | 11.08 | 79,878 | 72,891 | 9.59 | |
Net Fee and Commission Income | 5,827,806 | 5,389,845 | 8.13 | 2,089,568 | 1,872,349 | 11.60 | |
Net Gains/(Losses) from Trading | 189,200 | 292,240 | (35.26) | 37,595 | (8,156) | 560.95 | |
Net Gains from Derecognition of Financial Assets | 228,446 | 119,423 | 91.29 | 15,869 | 88,225 | (82.01) | |
Net Other Operating Income | 724,013 | 968,475 | (25.24) | 193,116 | 749,231 | (74.22) | |
Total Operating Income | 34,515,552 | 37,618,344 | (8.25) | 11,096,919 | 12,884,591 | (13.87) | |
Less : Impairment Charges | 4,149,782 | 13,446,929 | (69.14) | 1,194,117 | 3,887,935 | (69.29) | |
Net Operating Income | 30,365,770 | 24,171,415 | 25.63 | 9,902,802 | 8,996,656 | 10.07 | |
Less : Operating Expenses | |||||||
Personnel Expenses | 8,124,049 | 7,055,505 | 15.14 | 2,725,540 | 2,502,228 | 8.92 | |
Depreciation and Amortization Expenses | 1,026,902 | 1,019,363 | 0.74 | 348,215 | 335,879 | 3.67 | |
Other Expenses | 6,668,795 | 5,913,141 | 12.78 | 2,258,355 | 1,926,159 | 17.25 |
Total Operating Expenses | 15,819,746 | 13,988,009 | 13.10 |
Operating Profit before Taxes | 14,546,024 | 10,183,406 | 42.84 |
Less : Value Added Tax on Financial Services | 3,364,804 | 2,543,783 | 32.28 |
Less : Social Security Contribution Levy | 467,331 | 354,846 | 31.70 |
Profit before Income Tax | 10,713,889 | 7,284,777 | 47.07 |
Less : Income Tax Expense | 4,086,426 | 2,766,865 | 47.69 |
Profit for the Period | 6,627,463 | 4,517,912 | 46.69 |
Profit Attributable to : |
5,332,110 | 4,764,266 | 11.92 |
4,570,692 | 4,232,390 | 7.99 |
1,078,399 | 992,925 | 8.61 |
149,772 | 138,921 | 7.81 |
3,342,521 | 3,100,544 | 7.80 |
1,266,033 | 1,102,748 | 14.81 |
2,076,488 | 1,997,796 | 3.94 |
- | - | - |
Equity Holders of the Bank | 6,604,193 | 4,474,445 | 47.60 | 2,065,926 | 1,974,935 | 4.61 | |
Non-Controlling Interest | 23,270 | 43,467 | (46.47) | 10,562 | 22,861 | (53.80) | |
Profit for the Period | 6,627,463 | 4,517,912 | 46.69 | 2,076,488 | 1,997,796 | 3.94 | |
Basic/Diluted Earnings per Ordinary Share (Rs.) | 10.39 | 7.04 | 47.59 | 3.25 | 3.11 | 4.50 |
3
Seylan Bank PLC
Statement of Profit or Loss and Other Comprehensive Income
(In terms of Rule 7.4 of the Colombo Stock Exchange)
Group | |||
For the Nine Months Ended | |||
30th September | |||
2024 | 2023 | Growth | |
% | |||
Profit for the Period | 6,627,463 | 4,517,912 | 46.69 |
Other Comprehensive Income/ (Loss), Net of Tax
Items that are or may be Reclassified to Income
Statement in Subsequent Periods
Net Gains/(Losses) on Investments in Debt Instruments
measured at Fair Value through Other Comprehensive (187,981) 1,137,487 (116.53) Income
(Amounts in Rupees Thousands )
Group
For the Quarter Ended
30th September
2024 | 2023 | Growth |
% | ||
2,076,488 | 1,997,796 | 3.94 |
(337,211) 563,179 (159.88)
Deferred Tax effect relating to items that are or may be Reclassified to Income Statement
Items that will never be Reclassified to Income Statement in Subsequent Periods
Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other Comprehensive Income
57,264 (341,247) 116.78
44,392 362,270 (87.75)
102,033 (168,954) 160.39
7,582 | 252,412 | (97.00) |
Deferred Tax effect relating to items that will never be | - | - | - |
Reclassified to Income Statement | |||
Other Comprehensive Income/(Loss) for the Period, | (86,325) | 1,158,510 | (107.45) |
Net of Taxes | |||
Total Comprehensive Income for the Period | 6,541,138 | 5,676,422 | 15.23 |
Attributable to : | |||
Equity Holders of the Bank | 6,514,873 | 5,632,295 | 15.67 |
Non-Controlling Interest | 26,265 | 44,127 | (40.48) |
Total Comprehensive Income for the Period | 6,541,138 | 5,676,422 | 15.23 |
- | - | - |
(227,596) | 646,637 | (135.20) |
1,848,892 | 2,644,433 | (30.08) |
(1,848,892) | (2,644,433) | - |
1,839,354 | 2,621,765 | (29.84) |
9,538 | 22,668 | (57.92) |
1,848,892 | 2,644,433 | (30.08) |
4
Seylan Bank PLC
Statement of Financial Position
(In terms of Rule 7.4 of the Colombo Stock Exchange)
(Amounts in Rupees Thousands)
Bank
As at | As at | Growth |
30.09.2024 | 31.12.2023 | % |
(Audited) |
Group
As at | As at | Growth |
30.09.2024 | 31.12.2023 | % |
(Audited) |
Assets
Cash and Cash Equivalents | 34,564,222 | 48,851,143 | (29.25) | 34,564,262 | 48,851,183 | (29.25) | |
Balances with Central Bank of Sri Lanka | 9,578,456 | 7,028,281 | 36.28 | 9,578,456 | 7,028,281 | 36.28 | |
Placements with Banks and Finance Companies | 30,136,787 | 22,064,672 | 36.58 | 30,136,787 | 22,064,672 | 36.58 | |
Derivative Financial Instruments | 28,296 | 88,022 | (67.85) | 28,296 | 88,022 | (67.85) | |
Financial Assets recognized through Profit or Loss | |||||||
- Measured at Fair Value | 24,154,071 | 27,753,867 | (12.97) | 24,154,071 | 27,753,867 | (12.97) | |
- Designated at Fair Value | - | - | - | - | - | - | |
Financial Assets at Amortized Cost | |||||||
- Loans and Advances | 441,508,345 | 437,532,470 | 0.91 | 441,508,345 | 437,532,470 | 0.91 | |
- Debt and Other Instruments | 118,697,599 | 104,354,510 | 13.74 | 118,744,374 | 104,625,662 | 13.49 | |
Financial Assets measured at Fair Value through Other | 45,921,790 | 40,048,711 | 14.66 | 46,264,962 | 40,286,865 | 14.84 | |
Comprehensive Income | |||||||
Investment in Subsidiary | 1,153,602 | 1,153,602 | - | - | - | - | |
Group Balances Receivable | 40,300 | 40,500 | (0.49) | - | - | - | |
Property, Plant & Equipment | 3,912,893 | 3,874,650 | 0.99 | 6,621,135 | 6,627,167 | (0.09) | |
Right-of-use Assets | 5,113,741 | 5,114,518 | (0.02) | 2,698,945 | 2,735,963 | (1.35) | |
Investment Properties | - | - | - | 858,852 | 884,219 | (2.87) | |
Intangible Assets | 560,067 | 536,989 | 4.30 | 560,067 | 536,989 | 4.30 | |
Deferred Tax Assets | 2,023,006 | 3,171,806 | (36.22) | 1,401,349 | 2,571,168 | (45.50) | |
Other Assets | 16,319,775 | 16,371,694 | (0.32) | 16,378,522 | 16,406,762 | (0.17) | |
Total Assets | 733,712,950 | 717,985,435 | 2.19 | 733,498,423 | 717,993,290 | 2.16 | |
- | - | - |
Liabilities
Due to Banks | 12,449,906 | 12,096,756 | 2.92 |
Derivative Financial Instruments | 757 | 32,269 | (97.65) |
Financial Liabilities at Amortized Cost | |||
- Due to Depositors | 597,768,293 | 590,698,330 | 1.20 |
- Due to Debt Securities Holders | 3,685,625 | 6,862,998 | (46.30) |
- Due to Other Borrowers | 19,028 | 16,151 | 17.81 |
Group Balances Payable | 99,209 | 115,823 | (14.34) |
Debt Securities Issued | 24,512,169 | 19,967,701 | 22.76 |
Current Tax Liabilities | 2,083,850 | 2,688,253 | (22.48) |
Lease Liabilities | 5,508,015 | 5,409,418 | 1.82 |
Other Liabilities | 21,336,574 | 19,591,155 | 8.91 |
Total Liabilities | 667,463,426 | 657,478,854 | 1.52 |
Equity | |||
Stated Capital | 21,693,370 | 20,908,673 | 3.75 |
Statutory Reserve Fund | 2,880,973 | 2,880,973 | - |
Fair Value through Other Comprehensive Income Reserve | (303,115) | (203,999) | (48.59) |
Retained Earnings | 39,903,502 | 34,846,140 | 14.51 |
Other Reserves | 2,074,794 | 2,074,794 | - |
Total Shareholders' Equity | 66,249,524 | 60,506,581 | 9.49 |
Non-controlling Interest | - | - | - |
Total Equity | 66,249,524 | 60,506,581 | 9.49 |
Total Equity & Liabilities | 733,712,950 | 717,985,435 | 2.19 |
- | - | - | |
Contingent Liabilities and Commitments | 179,290,776 | 165,840,804 | 8.11 |
- | - | ||
Memorandum Information |
12,449,906 | 12,096,756 | 2.92 |
757 | 32,269 | (97.65) |
597,768,293 | 590,698,330 | 1.20 |
3,685,625 | 6,862,998 | (46.30) |
19,028 | 16,151 | 17.81 |
- | - | - |
24,512,169 | 19,967,701 | 22.76 |
2,109,256 | 2,719,843 | (22.45) |
2,330,542 | 2,245,420 | 3.79 |
21,352,245 | 19,655,972 | 8.63 |
664,227,821 | 654,295,440 | 1.52 |
2,007,245 | 19,655,972 | ########## |
21,693,370 | 20,908,673 | 3.75 |
2,880,973 | 2,880,973 | - |
(327,063) | (233,618) | (40.00) |
40,686,190 | 35,540,973 | 14.48 |
3,306,910 | 3,284,805 | 0.67 |
68,240,380 | 62,381,806 | 9.39 |
3,334,454 | 35,540,973 | ########## |
1,030,222 | 1,316,044 | (21.72) |
69,270,602 | 63,697,850 | 8.75 |
733,498,423 | 717,993,290 | 2.16 |
- | - | |
179,296,355 | 165,859,420 | 8.10 |
- | - |
Number of Employees | 3,158 | 3,077 | 2.63 |
Number of Banking Centres | 170 | 171 | (0.58) |
Net Assets Value per Ordinary Share (Rs.) | 104.22 | 98.31 | 6.01 |
3,175 | 3,095 | 2.58 |
170 | 171 | (0.58) |
107.36 | 101.36 | 5.92 |
- | - | - | - | |||
Certification; | - | - | - | - | - | - |
I certify that the above Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.
(Sgd.)
Champika Dodanwela (Ms.)
Chief Financial Officer
We the undersigned, being the Chairman, Director/ Chief Executive Officer of Seylan Bank PLC certify jointly that,
a ) the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka; and
b ) the information contained in these statements have been extracted from the un-audited financial statements of the Bank & Group unless indicated as audited .
(Sgd.) | (Sgd.) |
Justice Buwaneka P. Aluwihare PC | Ramesh Jayasekara |
Chairman | Director/Chief Executive Officer |
October 29, 2024 | 5 |
Colombo |
Seylan Bank PLC
Statement of Changes in Equity
For the Nine Months ended 30th September - Bank
(Amounts in Rupees Thousands )
Stated Capital | Statutory | Retained | Other Reserves | Total | |||||
Ordinary | Ordinary | Reserve Fund | Earnings | Revaluation | FVOCI Reserve | Other Reserves | |||
Shares - Voting Shares - Non | * | Reserve | |||||||
Voting | ** | ||||||||
1 Balance as at 01st January 2023 | 12,314,065 | 7,612,388 | 2,568,162 | 31,063,994 | 1,374,219 | (1,183,105) | 700,575 | 54,450,298 | |
Total Comprehensive Income for the Period | |||||||||
Profit for the Period | - | - | - | 4,495,713 | - | - | - | 4,495,713 | |
Other Comprehensive Income (net of tax) | |||||||||
- Net Gains / (Losses) on Investments in Debt Instruments measured at Fair Value through Other Comprehensive Income | - | - | - | - | - | 794,004 | - | 794,004 | |
- Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other Comprehensive Income | - | - | - | - | - | 362,270 | - | 362,270 | |
2 Total Comprehensive Income for the Period | - | - | - | 4,495,713 | - | 1,156,274 | - | 5,651,987 | |
Transactions with Equity Holders , Recognized Directly In Equity | |||||||||
Scrip Dividends to Equity Holders | 480,599 | 501,621 | - | (1,155,553) | - | - | - | (173,333) | |
3 Total Transactions with Equity Holders | 480,599 | 501,621 | - | (1,155,553) | - | - | - | (173,333) | |
Balance as at 30th September 2023 ( 1+ 2 + 3 ) | 12,794,664 | 8,114,009 | 2,568,162 | 34,404,154 | 1,374,219 | (26,831) | 700,575 | 59,928,952 | |
1 Balance as at 01st January 2024 | 12,794,664 | 8,114,009 | 2,880,973 | 34,846,140 | 1,374,219 | (203,999) | 700,575 | 60,506,581 | |
Total Comprehensive Income for the Period | |||||||||
Profit for the Period | - | - | - | 6,593,087 | - | - | - | 6,593,087 | |
Other Comprehensive Income (net of tax) | |||||||||
- Net Gains / (Losses) on Investments in Debt Instruments measured at Fair Value through Other Comprehensive Income | - | - | - | - | - | (140,610) | - | (140,610) | |
- Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other Comprehensive Income | - | - | - | - | - | 44,392 | - | 44,392 | |
2 Total Comprehensive Income for the Period | - | - | - | 6,593,087 | - | (96,218) | - | 6,496,869 | |
Transactions with Equity Holders , Recognized Directly In Equity | |||||||||
Cash / Scrip Dividends to Equity Holders | 378,313 | 406,384 | - | (1,538,623) | - | - | - | (753,926) | |
Net Gain on Disposal of Equity Investments measured at Fair Value through Other Comprehensive Income | - | - | - | 2,898 | - | (2,898) | - | - | |
3 Total Transactions with Equity Holders | 378,313 | 406,384 | - | (1,535,725) | - | (2,898) | - | (753,926) | |
Balance as at 30th September 2024 (1 + 2 + 3) | 13,172,977 | 8,520,393 | 2,880,973 | 39,903,502 | 1,374,219 | (303,115) | 700,575 | 66,249,524 | |
- | - | - | - | - | - |
- Statutory Reserve Fund represents the statutory requirement in terms of the Section 20(1) and (2) of the Banking Act No. 30 of 1988 (5% of net profit after tax).
- FVOCI Reserve - Fair Value through Other Comprehensive Income Reserve.
6
Seylan Bank PLC
Statement of Changes in Equity
For the Nine Months ended 30th September - Group
(Amounts in Rupees Thousands)
Stated Capital
Ordinary Ordinary
Shares - Voting Shares - Non
Voting
Statutory | Retained |
Reserve Fund | Earnings |
* |
Other Reserves
Revaluation FVOCI Reserve Other Reserves
Reserve
**
Total | Non- | Total Equity |
Controlling | ||
Interest |
1 Balance as at 01st January 2023 | 12,314,065 | 7,612,388 | 2,568,162 | 31,697,936 | 2,269,369 | (1,215,647) | 955,788 | 56,202,061 | 1,264,408 | 57,466,469 | |
Total Comprehensive Income for the Period | |||||||||||
Profit for the Period | - | - | - | 4,474,445 | - | - | - | 4,474,445 | 43,467 | 4,517,912 | |
Other Comprehensive Income (Net of Tax) | |||||||||||
- Net Gains / (Losses) on Investments in Debt Instruments measured at Fair Value through Other Comprehensive | |||||||||||
Income | - | - | - | - | - | 795,580 | - | 795,580 | 660 | 796,240 | |
- Change in Fair Value on Investments in Equity Instrumentsmeasured at Fair Value through Other Comprehensive | |||||||||||
Income | - | - | - | - | - | 362,270 | - | 362,270 | - | 362,270 |
2 | Total Comprehensive Income for the Period | - | - | - | 4,474,445 | - | 1,157,850 | - | 5,632,295 | 44,127 | 5,676,422 |
Transactions with Equity Holders , Recognized Directly In Equity | - | - | - | 1,005,296 | - | (271,987) | (7,747) | 725,562 | 10,248 | 735,810 | |
Scrip Dividends to Equity Holders | 480,599 | 501,621 | - | (1,155,553) | - | - | - | (173,333) | (52,362) | (225,695) | |
3 | Total Transactions with Equity Holders | 480,599 | 501,621 | - | (1,155,553) | - | - | - | (173,333) | (52,362) | (225,695) |
Balance as at 30th September 2023 (1+2+3) | 12,794,664 | 8,114,009 | 2,568,162 | 35,016,828 | 2,269,369 | (57,797) | 955,788 | 61,661,023 | 1,256,173 | 62,917,196 | |
1 | Balance as at 01st January 2024 | 12,794,664 | 8,114,009 | 2,880,973 | 35,540,973 | 2,329,017 | (233,618) | 955,788 | 62,381,806 | 1,316,044 | 63,697,850 |
Total Comprehensive Income for the Period | #VALUE! | (1,857,426) | (184,013) | (3,074,955) | (52,101) | (1,869,725) | 67,163 | (10,132,560) | (48,131) | (10,180,691) | |
Profit for the Period | - | - | - | 6,604,193 | - | - | - | 6,604,193 | 23,270 | 6,627,463 | |
Other Comprehensive Income (Net of Tax) | |||||||||||
- Net Gains / (Losses) on Investments in Debt Instruments measured at Fair Value through Other Comprehensive | |||||||||||
Income | - | - | - | - | - | (133,712) | - | (133,712) | 2,995 | (130,717) | |
- Change in Fair Value on Investments in Equity Instruments measured at Fair Value through Other Comprehensive | |||||||||||
Income | - | - | - | - | - | 44,392 | - | 44,392 | - | 44,392 | |
2 | Total Comprehensive Income for the Period | - | - | - | 6,604,193 | - | (89,320) | - | 6,514,873 | 26,265 | 6,541,138 |
- | |||||||||||
Transactions with Equity Holders , Recognized Directly In Equity | |||||||||||
Scrip Dividends to Equity Holders | 378,313 | 406,384 | - | (1,538,623) | - | - | - | (753,926) | (35,355) | (789,281) | |
Net Gain on Disposal of Equity Investments measured at Fair Value through Other Comprehensive Income | - | - | - | 2,898 | - | (2,898) | - | - | - | - | |
Acquisition of Non-Controlling Interest | 76,749 | 151 | (1,227) | 21,954 | 97,627 | (276,732) | (179,105) | ||||
3 | Total Transactions with Equity Holders | 378,313 | 406,384 | - | (1,458,976) | 151 | (4,125) | 21,954 | (656,299) | (312,087) | (968,386) |
Balance as at 30th September 2024 (1 + 2 + 3) | 13,172,977 | 8,520,393 | 2,880,973 | 40,686,190 | 2,329,168 | (327,063) | 977,742 | 68,240,380 | 1,030,222 | 69,270,602 | |
- | - | - | - | - | - | - | - |
- Statutory Reserve Fund represents the statutory requirement in terms of the Section 20(1) and (2) of the Banking Act No. 30 of 1988 (5% of net profit after tax).
- FVOCI Reserve - Fair Value through Other Comprehensive Income Reserve.
7
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