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1047 1424398678.Pdf de Union Bank of Colombo PLC STATEMENT OF PROFIT OR LOSS Year ended 31 December 2014 BANK GROUP For the twelve months ended For the quarter ended For the twelve months ended For the quarter ended 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change Rs.000 Rs.000 % Rs.000 Rs.000 % Rs.000 Rs.000 % Rs.000 Rs.000 % Interest income 3,972,062 4,129,391 (4) 1,048,090 962,664 9 4,482,731 4,413,133 2 1,196,419 1,046,178 14 Less: Interest expenses 2,209,487 2,973,676 (26) 451,285 728,240 (38) 2,512,194 3,127,200 (20) 531,718 767,372 (31) Net interest income 1,762,575 1,155,715 53 596,805 234,424 155 1,970,538 1,285,933 53 664,701 278,806 138 Fee and commission income 168,720 148,874 13 43,625 34,122 28 322,554 240,627 34 83,717 62,338 34 Less: Fee and commission expenses 43,560 40,453 8 11,055 13,683 (19) 58,620 47,769 23 7,736 16,193 (52) Net fee and commission income 125,161 108,421 15 32,570 20,439 59 263,934 192,858 37 75,981 46,144 65 Net trading income 96,054 120,952 (21) 21,994 39,603 (44) 96,054 120,952 (21) 17,868 13,437 33 Other operating income (net) 309,582 393,535 (21) 82,894 73,631 13 413,069 416,479 (1) 32,756 110,150 (70) Total operating income 2,293,371 1,778,623 29 734,262 368,097 99 2,743,595 2,016,221 36 791,305 448,538 76 Less: Credit loss expense 541,165 328,905 65 262,795 189,381 39 526,528 292,427 80 247,366 142,995 73 Net operating income 1,752,206 1,449,717 21 471,467 178,717 164 2,217,067 1,723,794 29 543,939 305,543 78 Less: Personnel Expenses 660,126 527,388 25 195,251 147,660 32 784,681 632,062 24 215,180 167,653 28 Depreciation & Amortization 270,765 168,787 60 77,655 47,482 64 293,829 202,834 45 72,110 56,142 28 Other expenses 708,619 607,307 17 181,207 186,884 (3) 905,415 740,785 22 268,517 216,990 24 Operating profit before value added tax (VAT) and national building tax (NBT) on 112,697 146,236 (23) 17,354 (203,309) 109 233,142 148,112 57 (11,868) (135,242) (91) financial services Less: VAT and NBT on financial services 51,894 42,269 23 14,924 (28,501) (152) 72,610 42,881 69 16,540 (28,501) (158) Profit before tax 60,803 103,967 (42) 2,429 (174,808) (101) 160,532 105,231 53 (28,408) (106,741) (73) Less: Tax expense 3,715 (8,747) 142 1,065 (60,764) 102 82,335 6,163 1236 9,609 (57,617) 117 Profit for the period 57,088 112,714 (49) 1,364 (114,044) (101) 78,197 99,068 (21) (38,017) (49,124) (23) Profit Attributable to: Owners of the parent 57,088 112,714 (49) 1,364 (114,044) (101) 31,063 103,928 (70) (47,335) (71,307) (34) Non controlling interests - - - - 47,134 (4,860) 1070 9,318 22,184 (58) 57,088 112,714 (49) 1,364 (114,044) (101) 78,197 99,068 (21) (38,017) (49,124) (23) Earnings per share Earnings per share - Basic 0.11 0.32 (67) 0.00 (0.33) (100) 0.06 0.30 (81) (0.04) (0.20) (79) Earnings per share - Diluted 0.10 - 100 0.00 - 100 0.06 - 100 (0.09) - (100) -1- Union Bank of Colombo PLC STATEMENT OF OTHER COMPREHENSIVE INCOME Year ended 31 December 2014 BANK GROUP For the twelve months ended For the quarter ended For the twelve months ended For the quarter ended 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Profit for the period 57,088 112,714 (49) 1,364 (114,044) 101 78,197 99,068 (21) (38,017) (49,124) (23) Other comprehensive income Other comprehensive income to be reclassified to profit or loss: Gains and losses on re-measuring available-for-sale financial assets (1,721) 3,093 (156) (2,127) 923 (330) 1,287 4,097 (69) (8,310) (2,728) 205 Net other comprehensive income to be reclassified to profit or (1,721) 3,093 (156) (2,127) 923 (330) 1,287 4,097 (69) (8,310) (2,728) 205 loss Other comprehensive income not to be classified to profit or loss: Actuarial gains and losses on defined benefit plans (6,157) (698) 783 (6,157) (698) 783 (5,768) (1,342) 330 (7,338) (1,342) 447 Net other comprehensive income not to be reclassified to (6,157) (698) 783 (6,157) (698) 783 (5,768) (1,342) 330 (7,338) (1,342) (100) profit or loss (7,877) 2,395 (429) (8,283) 226 (3771) (4,482) 2,754 (263) (15,648) (4,070) 284 Other comprehensive income/(loss) for the year, net of taxes Total comprehensive income for the period 49,211 115,109 (57) (6,919) (113,818) (94) 73,715 101,822 (28) (53,665) (53,195) 1 Attributable to: Owners of the parent 49,211 115,109 (57) (6,919) (113,818) (94) 25,075 106,352 (76) (70,529) (72,236) (2) Non-controlling interest - - - - 48,641 (4,530) 1174 16,864 19,041 (11) 49,211 115,109 (57) (6,919) (113,818) (94) 73,715 101,822 (28) (53,665) (53,195) 1 -2- Union Bank of Colombo PLC STATEMENT OF FINANCIAL POSITION As at 31 December 2014 BANK GROUP 31.12.2014 31.12.2013 Change 31.12.2014 31.12.2013 Change Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Assets Cash and balances with Central Bank 2,408,572 2,134,479 13 2,689,337 2,182,003 23 Reverse repurchased agreements 10,543,106 1,349,743 681 10,642,158 1,442,352 638 Placements with banks 73,995 314,545 (76) 186,430 314,545 (41) Derivative financial instruments 4,150 1,458 185 4,150 1,458 185 Financial assets - held for trading 2,584,471 989,206 161 2,584,471 989,206 161 Loans and receivables to banks - - 16,004 15,020 7 Loans and receivables to other customers 25,944,570 23,461,925 11 29,217,857 25,347,783 15 Other loans and receivables 2,470,115 2,375,111 4 1,649,134 1,513,485 9 Financial investments - Available for sale 1,647,686 1,736,728 (5) 1,800,750 1,829,596 (2) Financial investments - Held to maturity 140,027 139,556 0 140,027 139,556 0 Investment in real estate - - 258,887 340,147 (24) Investments in subsidiaries 892,364 892,364 0 - - Property, plant and equipment 754,548 1,025,088 (26) 875,933 1,147,115 (24) Goodwill and intangible assets 951,750 53,951 1664 1,304,027 407,576 220 Current tax asset 149,448 94,515 58 149,448 94,515 58 Deferred tax assets - - 515,838 520,774 (1) Other assets 430,318 442,293 (3) 523,918 539,623 (3) Total assets 48,995,121 35,010,962 40 52,558,370 36,824,753 43 Liabilities Due to banks 2,090,588 163,448 1179 2,145,832 192,429 1015 Repurchased agreements 1,116,489 129,450 762 1,095,694 127,154 762 Due to other customers 27,808,891 28,339,687 (2) 30,323,850 29,462,271 3 Other Borrowed Funds - - 845,085 668,154 26 Current tax liabilities - - 181,442 163,604 11 Deferred tax liabilities 25,284 23,964 6 25,915 24,518 6 Other liabilities 1,203,584 897,127 34 1,443,521 992,903 45 Total liabilities 32,244,837 29,553,677 9 36,061,339 31,631,034 14 Equity Stated capital 16,334,782 4,979,791 228 16,334,782 4,979,791 228 Share warrants 65,484 - 100 65,484 - 100 Statutory reserve fund 61,782 58,928 5 69,169 63,272 9 Investment fund reserve - 213,717 (100) - 214,889 (100) Available for sale reserve (78) 1,642 (105) 14,085 14,174 (1) Retained earnings 288,314 203,208 42 (298,854) (351,933) (15) Total equity attributable to equity holders of the Bank 16,750,284 5,457,285 207 16,184,665 4,920,193 229 Non-controlling interests - - 312,366 273,526 14 Total equity 16,750,284 5,457,285 207 16,497,032 5,193,719 218 Total equity and liabilities 48,995,121 35,010,962 40 52,558,370 36,824,753 43 Commitments & Contingencies 24,188,914 20,811,865 16 24,188,914 20,811,865 16 Net asset value per share (Rs.) 15.35 15.63 (2) 15.12 14.87 2 Memorandum Information Number of Employees 724 691 Number of Branches 61 51 -3- Union Bank of Colombo PLC STATEMENT OF CHANGES IN EQUITY Year ended 31 December 2014 Statutory Reserve Investment Fund Available-for-sale Retained BANK Stated Capital Share Warrants Fund Reserve reserve Earnings Total Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Balance as at 1 January 2013 4,979,791 - 53,299 146,322 (1,451) 286,452 5,464,414 Net Profit for the year - - - - - 112,714 112,714 Other Comprehensive Income - - - - 3,093 (698) 2,395 Total comprehensive income - - - - 3,093 112,017 115,109 Transfers during the year - - 5,629 67,395 - (73,024) - Dividend - - - - - (122,238) (122,238) Balance as at 31 December 2013 4,979,791 - 58,928 213,717 1,642 203,208 5,457,285 Net Profit for the year - - - - - 57,088 57,088 Other Comprehensive Income - - - - (1,721) (6,157) (7,877) Total comprehensive income - - - - (1,721) 50,932 49,211 Issue of share capital 11,354,991 - - - - - 11,354,991 Issue of warrants - 65,484 - - - - 65,484 Transfers during the year - - 2,854 (213,717) - 210,862 - Dividend - - - - - (87,313) (87,313) Share issue expense - - - - - (89,375) (89,375) Balance as at 31 December 2014 16,334,782 65,484 61,782 - (78) 288,314 16,750,284 Statutory Reserve Investment Fund Available-for-sale Retained Non Controlling GROUP Stated Capital Share Warrants Fund Reserve reserve Earnings Total Equity Interest Total Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Balance as at 1 January 2013 4,979,791 - 53,299 147,494 10,601 (255,131) 4,936,053 274,257 5,210,310 Net Profit for the year - - - - - 103,928 103,928 (4,860) 99,068 Other Comprehensive Income - - - - 3,573 (1,124) 2,449 (220) 2,229 Total comprehensive income - - - - 3,573 102,803 106,377 (5,080) 101,297 Additions to Non controlling interest due to change in ownership interest - - - - - - - 14,149 14,149 Transfers during the year - - 9,973 67,395 - (77,368) - 0 - Dividend - - - - - (122,238) (122,238) (9,800) (132,038) Balance as at 31 December 2013 4,979,791 - 63,272 214,889 14,174 (351,933) 4,920,193 273,526 5,193,719 Net Profit for the year - - - - - 31,063 31,063 47,134 78,197 Other Comprehensive Income - - - - (89) (5,900) (5,989) 1,507
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