DOCSLIB.ORG

Sanasa Development Bank Plc Financial Statements 31

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sanasa Development Bank Plc Financial Statements 31 SANASA DEVELOPMENT BANK PLC FINANCIAL STATEMENTS 31 DECEMBER 2017 -2- SANASA Development Bank PLC STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December 2017 Note 2017 2016 Rs. Rs. Interest income 10,829,333,073 8,177,186,889 Interest expenses (6,941,840,502) (4,846,840,351) Net interest income 3 3,887,492,571 3,330,346,538 Fee and commission income 278,769,564 212,540,050 Fee and commission expenses (3,511,099) (9,596,114) Net fee and commission income 4 275,258,465 202,943,936 Net gain/(loss) from financial instruments at fair value through profit or loss 5 211,759,394 17,351,017 Other operating income (net) 6 50,845,398 40,045,507 Total operating income 4,425,355,828 3,590,686,997 Impairment for loans and other losses 7 (293,536,909) (125,043,863) Net operating income 4,131,818,919 3,465,643,134 Personnel expenses 8 (1,474,145,865) (1,266,115,183) Other expenses 9 (1,555,628,153) (1,289,848,347) Operating profit before value added tax (VAT) 1,102,044,901 909,679,605 Value added tax (VAT) on financial services & NBT (349,443,792) (292,254,188) Operating profit after value added tax (VAT) 752,601,109 617,425,417 Profit before tax 752,601,109 617,425,417 Tax expenses 10 (244,777,577) (213,703,773) Profit for the year 507,823,532 403,721,644 Other Comprehensive Income Other Comprehensive Income/(Expenses) not to be reclassified to profit or loss Actuarial losses on defined benefit plans 28.1.3 2,885,075 (49,638,943) Deferred tax relating to defined benefit plans (807,821) 13,898,904 Other Comprehensive Income to be reclassified to profit or loss Loss arising on re-measuring available for sale financial assets - (12,453,979) Other Comprehensive Income for the year net of tax 2,077,254 (48,194,018) Total Comprehensive Income for the year 509,900,786 355,527,626 Earnings per share on profit Basic earnings per share - (Rs). 11 10.18 9.60 Diluted earning per share- (Rs). 11 9.90 - The Accounting Policies and Notes on pages 07 through 53 from an integral part of the Financial Statements. -3- SANASA Development Bank PLC STATEMENT OF FINANCIAL POSITION As at 31 December 2017 2017 2016 Note Rs. Rs. Assets Cash and cash equivalents 12 1,190,389,606 1,044,725,493 Placements with banks 13 6,014,703,836 6,919,027,281 Financial assets fair value through profit or loss 14 4,473,805,573 244,911,140 Other financial asset classified under loans and receivable 15 1,479,949,628 1,503,539,374 Loans and receivables to other customers 16 66,687,415,593 53,632,538,822 Financial investments - Available-for-sale 17 63,536,159 566,935,476 Financial investments - Held-to-maturity 18 599,551,021 492,267,661 Asset classified as Held for sale 19 37,175,411 37,175,411 Property, plant and equipment 20 726,472,629 637,263,173 Investment properties 21 23,390,660 24,446,690 Intangible assets 22 8,148,340 16,938,244 Other assets 23 1,070,174,846 913,030,314 Total assets 82,374,713,302 66,032,799,079 Liabilities Due to other customers 24 59,904,734,365 45,691,758,092 Other borrowings 25 8,827,609,604 9,482,950,010 Debt securities issued 26 4,189,812,218 4,182,653,234 Subordinated term debts 27 1,004,354,742 - Current tax liabilities 32,152,742 23,110,292 Deferred tax liabilities 10.2 58,000,392 46,629,257 Other liabilities 28 1,026,889,208 1,086,418,546 Total liabilities 75,043,553,271 60,513,519,431 Equity Stated capital 29 5,758,689,211 4,062,961,714 Statutory reserve fund 30 197,763,963 172,372,786 Retained earnings 31 1,340,503,863 1,249,742,154 Other reserves 32 34,202,994 34,202,994 Total equity 7,331,160,031 5,519,279,648 Total equity and liabilities 82,374,713,302 66,032,799,079 Contingent liabilities and commitments 33 166,260,031 148,030,175 Certification I certify these Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007. …………………………. Terrance Kumara AGM - Finance The Board of Directors is responsible for these Financial Statements. Signed for and on behalf of the Board by; …………………………. …………………………. …………………………. …………………….. M.S.Kiriwandeniya Lakshman Abeysekera Nimal C Hapuarachchi Tamarika Rodrigo Chairperson Senior Director General Manager/CEO Company Secretary The Accounting Policies and Notes on pages 07 through 53 from an integral part of the Financial Statements. 26 February 2018 Colombo -4- SANASA Development Bank PLC STATEMENT OF CHANGES IN EQUITY Year ended 31 December 2017 Bank Stated Capital Reserves Ordinary Statutory Retained Available For General Total Voting Shares Reserve Earnings Sale Reserve Reserves Equity Rs. Rs. Rs. Rs. Rs. Balance as at 01 January 2016 3,794,094,725 154,596,405 1,302,002,771 - 46,656,973 5,297,350,874 Profit for the year - - 403,721,644 - - 403,721,644 Other comprehensive income (net of tax) - - (35,740,039) (12,453,979) - (48,194,018) Total comprehensive income for the year - - 367,981,605 (12,453,979) - 355,527,626 Transactions with equity holders, recognised directly in equity Scrip Dividend 268,866,989 - (293,303,439) - - (24,436,450) Transfer to Statutory Reserve fund - 17,776,381 (17,776,381) - - - Dividends to equity holders - - (109,162,402) - - (109,162,402) Total transactions with equity holders 268,866,989 17,776,381 (420,242,222) - - (133,598,852) Balance as at 31 December 2016 4,062,961,714 172,372,786 1,249,742,154 (12,453,979) 46,656,973 5,519,279,648 1,635,429,514 107,302,319 0 0 1,730,277,854 Balance as at 1 January 2017 4,062,961,714 172,372,786 1,249,742,154 (12,453,979) 46,656,973 5,519,279,648 Profit for the year - - 507,823,532 - - 507,823,532 Other comprehensive income (net of tax) - - 2,077,254 - - 2,077,254 Total comprehensive income for the year - - 509,900,786 - - 509,900,786 Transactions with equity holders, recognised directly in equity Share issue/increase of assigned capital 1,461,340,020 - - - - 1,461,340,020 Scrip Dividend 234,387,477 - (262,498,600) - - (28,111,123) Transfer to Statutory Reserve fund - 25,391,177 (25,391,177) - - - Dividends to equity holders - - (131,249,300) - - (131,249,300) Total transactions with equity holders 1,695,727,497 25,391,177 (419,139,077) - - 1,301,979,597 Balance as at 31 December 2017 5,758,689,211 197,763,963 1,340,503,863 (12,453,979) 46,656,973 7,331,160,031 Statutory Reserve Fund Every Licensed Specialised Bank has to make a Provision not less than 5% out of profit after tax to the Statutory Reserve Fund. Such provision should be made annually as stipulated by the Banking Act No. 30 of 1988 as amended by Banking (Amendment) Act No. 33 of 1995 until the said Reserve Fund is equal to 50% of the Equity Capital of the Bank. Thereafter, the Bank has to make a provision not less than 2% out of profit after tax to the Statutory Reserve Fund until the said Fund is equal to the Equity Capital of the Bank. General Reserve The General Reserve is created after provisioning for a Statutory Reserve Fund and Interim Dividend payments for the respective share holders, this reserve will be used by the Bank for the Future Capitalisation purposes of the Bank. Available For Sale Reserve The available for sale reserve is consist of fair value adjustment made to unquoted equity investment. The Accounting Policies and Notes on pages 07 through 53 from an integral part of the Financial Statements. -5- SANASA Development Bank PLC STATEMENT OF CASH FLOWS Year ended 31 December 2017 Note 2017 2016 Rs. Rs. Cash Flows From / (Used in) Operating Activities Interest Received 10,627,484,784 8,177,186,889 Fee and Commission Received 274,824,879 212,540,050 Receipts from other Operating Activities 63,788,378 101,752,074 Interest Payment (6,073,127,221) (4,846,840,351) Cash Payment to Employees (1,371,766,033) (1,386,214,260) Payments to Suppliers and Other Operating Activities (2,729,403,858) (1,552,399,590) Fee and Commission Expenses (3,511,098) (9,596,114) Operating Profit before Changes in Operating Assets 788,289,831 696,428,698 (Increase)/Decrease in Operating Assets Funds Advanced to Customers (13,348,413,681) (7,927,083,794) Other Short Term Securities 134,290,035 516,458,126 Increase/(Decrease) in Operating Liabilities Deposits from Customers 14,212,976,273 2,668,365,273 Net Cash from Operating Activities Before Income Tax 1,787,142,456 (4,045,831,697) Income Tax Paid (236,542,946) (437,427,735) Net Cash from Operating Activities 1,550,599,510 (4,483,259,431) Cash Flows from / (Used in) Investing Activities Dividend Received 6,929,443 1,759,173 (Increase)/ Decrease in Non Dealing Securities 503,399,317 (499,710,818) (Increase)/ Decrease in Dealing Securities (4,017,135,040) (227,560,123) (Increase)/ Decrease in Treasury Bonds and other Investments (1,438,102,869) 700,172,712 Proceeds from sale of Property, Plant and Equipment 10,747,244 10,311,927 Purchase of Property, Plant and Equipment 20 (272,786,130) (236,556,367) Net Cash from/ (used in) Investing Activities (5,206,948,034) (251,583,496) Cash Flows from (Used in) Financing Activities Proceeds from Issuance/Allotment of Shares 1,461,340,018 - Dividend Paid (131,249,300) (109,162,402) Net Increase/(Decrease) in Borrowing 376,047,727 3,086,154,080 Funds Received/(Utilized) During the period (28,568,474) 354,219 Net Cash Flow from/ (used in) Financing Activities 1,677,569,970 2,977,345,897 Net Increase/ (Decrease) in Cash and Cash Equivalents (1,978,778,554) (1,757,497,030) Cash and Cash Equivalent at the beginning of the year 12 8,565,674,376 10,323,171,406 Cash and Cash Equivalents at the end of the year 12 6,586,895,822 8,565,674,376 The Accounting Policies and Notes on pages 07 through 53 from an integral part of the Financial Statements.
Load more

Recommended publications
  • National Ratings by Fitch Ratings (Lanka) Ltd. As at 2 September 2019
    National Ratings by Fitch Ratings (Lanka) Ltd. As at 2 September 2019 Previous Rating Current rating National Rating National Rating Rating Actions Long-term Rating Outlook Long-term Rating Outlook Banks 1 Citibank N.A. - Colombo Branch AAA(lka) Stable 2 National Savings Bank AA+(lka) Stable 3 Standard Chartered Bank, Sri Lanka Branch AAA(lka) Stable 4 Bank of Ceylon AA+(lka) Stable Bank of Ceylon -Subordinated Debt AA(lka) Bank of Ceylon -Basel III-compliant subordinated debentures AA(lka) 5 Peoples Bank AA+(lka) Stable 6 Commercial Bank of Ceylon PLC AA(lka) Stable Commercial Bank of Ceylon PLC-Basel III compliant subordinated debentures AA-(lka) (EXP) Commercial Bank of Ceylon PLC-Subordinated Debt AA-(lka) 7 DFCC Bank AA-(lka) Stable DFCC Bank- Senior Unsecured Debt AA-(lka) DFCC Bank-Basel III-compliant subordinated debentures A+(lka) DFCC Bank- Subordinated Debt A+(lka) 8 Hatton National Bank PLC AA-(lka) Stable Hatton National Bank PLC-Senior Unsecured Debt AA-(lka) Hatton National Bank PLC-Subordinated Debt Assigned A+(lka) (EXP) A+(lka) 9 National Development Bank PLC A+(lka) Negative National Development Bank PLC-Subordinated Debt A(lka) 10 Sampath Bank PLC A+(lka) Stable Sampath Bank PLC-Basel III compliant subordinated debentures A(lka) Sampath Bank PLC-Subordinated Debt A(lka) 11 Nations Trust Bank PLC A(lka) Stable Nations Trust Bank PLC-Subordinated Debt A-(lka) Nations Trust Bank PLC-Basel III-compliant subordinated debenture A-(lka) Nations Trust Bank PLC-Basel III-compliant subordinated debenture - Proposed A-(lka)(EXP)
    [Show full text]
  • Lankaclear (Private) Limited Annual Report 2020/21 Annual Report 2020/21 Lankaclear (Private) Limited 1 Lankaclear (Private) Limited Annual Report 2020/21 2
    LankaClear (Private) Limited Annual Report 2020/21 Annual Report 2020/21 LankaClear (Private) Limited 1 LankaClear (Private) Limited Annual Report 2020/21 2 To revolutionize the transport sector in the country, we unveiled the 2in1 payment card technology to enable ‘Tap and Go’ payment capability in public transport. Ensuring a Quantum Leap in the Transport Sector, this is a pioneering effort to introduce an innovative technology of a single payment card with online and offline capabilities to provide convenience to commuters of public transport. You may get a glimpse of the Sri Lanka Transit Card experience by enabling NFC access in your Smart Phone and tapping the phone on the LankaPay card on the cover page of this year’s annual report. LankaClear has always been in the forefront of understanding consumer needs to make their lives and work seamless by providing real-time and secure transactions. In fact, we are well on our way to integrate THEďLATESTďȶNANCIALďSERVICEďINNOVATIONďTHATďWILLďPOSITIVELYď impact the lives of a majority of Sri Lankans via our 2 INďď0AYMENTď#ARDď7ITHďAďDYNAMICďSHIȺďINďCONSUMERď behaviour and how companies analyse the metrics of online engagement, our services have become indispensable. Our enviable track record shows that we have always strived to bring world-class technology, speed and convenience to a new breed of digital consumers to meet THEIRďDEMANDINGďEXPECTATIONSďINďACCESSINGďȶNANCIALď services. Similarly, we are making traditional brick mortar business a piece of history by bringing the future ever
    [Show full text]
  • View Annual Report 2017
    Nations Trust Bank PLC Annual Report 2017 Scan to view this report online https://www.nationstrust.com/about/ investor-relations/annual-reports At 18 years, Nations Trust Bank is one of the youngest full service commercial banks around. Yet in that short time, we have built a reputation for innovation, service and value that makes us truly proud. Our team is passionate, youthful and energetic, making us a bank that is perfectly positioned to deliver the best experience of SMART banking to our many customers; the service ethic, technological capability and product models that now define us. Strategic thinking and planning are key elements of our success. It is how we ensure that the design and implementation of our systems and processes, governance policies and sustainable business model are all ahead of their time. The performance reported in this financial review is another example of how we have realized value through business plans we put in place last year. We also report significant growth in many business areas, most especially in the SME sector; while our emphasis on evolving digital innovation saw the launch of Sri Lanka’s first digital bank, FriMi - a next-generation bank account, payment system and e-wallet that will offer convenience, speed and added value to the diverse customers we serve. This is how we remain a bank trusted and relied upon by the thousands of stakeholders who partner us today. Because they know that whatever their financial requirement might be, they can always count on us. Contents 6-9 pg 104-167 pg About
    [Show full text]
  • View Annual Report 2020
    NATIONS TRUST BANK PLC – ANNUAL REPORT 2020 creating velocity of value www.nationstrust.com contents OUR BUSINESS AND LEADERSHIP CAPITAL MANAGEMENT FINANCIAL STATEMENTS About Us ..............................................................................................2 Financial Capital ........................................................................31 Directors’ Responsibility for Overview ..............................................................................................3 Digital Capital ............................................................................. 33 Financial Reporting .......................................................83 Performance Highlights .......................................................4 Manufactured Capital.........................................................35 Independent Auditors’ Report ......................................84 Non-Financial Highlights ...................................................5 Intellectual Capital..................................................................36 Statement of Financial Position ................................88 Chairman’s Message...............................................................8 Human Capital ........................................................................... 37 Statement of Profit or Loss .......................................... 89 Chief Executive Officer’s Review .................................10 Social and Relationship Capital ...................................41 Statement of Comprehensive Income
    [Show full text]
  • DFCC Bank PLC Annual Report 2016.Pdf
    Going beyond conventional reporting, we have implemented a About this Report more current format for reporting and have upgraded our corporate website with a focus on investor relations, supplemented by an investor relations app for smart phones and other devices. This is an integrated annual report and is a compact Reporting Period disclosure on how our strategy, governance, performance and prospects have resulted in the The DFCC Bank Annual Report for 2016 covers the 12 month period from 01 January 2016 to 31 December 2016 and is reflective of the creation of sustainable value within our operating change in the financial year-end implemented in 2015. The previous environment. annual report covered the nine month period from 01 April 2015 to 31 December 2015 and is available on the company website Value Creation and Capital Formation (www.dfcc.lk). Some of the Group entities have a 31 March financial year-end and they are consolidated with DFCC Bank’s reporting The ability of an organisation to create sustainable value for itself period with a three month time lag. A summary of the accounting depends on the value it creates for its stakeholders, making value periods covered by the Statement of Profit and Loss and Other creation essentially a two-way process. In fact, the more value an Comprehensive Income in the Bank and the Group columns is given organisation creates, the more value it is able to create for itself. in the Financial Report (page 136). Therefore firms spend substantial resources on creating and maintaining relationships with their stakeholders. Value creation leads to capital formation.
    [Show full text]
  • Bank of Ceylonannual Repor
    ANNUAL REPORT 2020 ANNUAL REPORT BANK OF CEYLON Bank of Ceylon, No. 01, BOC Square, Bank of Ceylon Mawatha, Colombo 01 Sri Lanka BANK OF CEYLON ANNUAL REPORT 2020 As we traversed a new terrain in 2020 engulfed by unprecedented challenges, we at BoC demonstrated resilience and strength across many dimensions. As the world stood still during the pandemic, we ensured that we reach out to our customers through digital platforms. Our efforts to harness the power of new technology over the years allowed us to adapt and pivot seamlessly to the new normal. Leading the way, we have powered the economy through many development projects of national interest which will stimulate prosperity and development across the Island. As the unequivocal leader in the banking sphere we inspired the way by helping the state navigate through a challenging era. We set the pace for economic resurgence by granting financial support to industries affected by the pandemic creating a strong bedrock to help the Nation chart its way in the new economy. Standing tall as a pillar of support to the Nation and its people with unwavering support we are truly Leading to inspire. BANK OF CEYLON ANNUAL REPORT 2020 Contents 3 - 4 74 - 83 320 - 365 Our Integrated Delivering Value Compliance Annexes Annual Report Integrated value creation through our Compliance with Code of Best Practice on strategy\ 74 Corporate Governance 2017 issued by CA 6 - 29 Chief Financial Officer’s Review\ 75 Sri Lanka\ 320 Business Line Reviews\ 79 Compliance Requirements as per Banking Act Direction No.
    [Show full text]
  • Payments Bulletin - First Q U a R T E R 2019 Page 1
    SECONDQ3 First Quarter 2019 Payments and Settlements Department Central Bank of Sri Lanka Payments Bulletin - First Q u a r t e r 2019 Page 1 Contents Topic Page 1 Currency in Circulation 3 2 Non-Cash Payments 4 2.1 Real Time Gross Settlement (RTGS) System 5 2.2 Cheques 8 2.3 Sri Lanka Interbank Payment (SLIP) System 12 2.4 Payment Cards and Mobile Phone based Payment Mechanisms 14 2.4.1 Payment Cards 14 (a) Credit Cards 15 (b) Debit Cards 17 2.4.2 Payment Card Infrastructure 18 (a) Automated Teller Machines (ATMs) 18 (b) Point of Sale (POS) Terminals 19 2.4.3 Mobile Phone based Payment Mechanisms 20 (a) Customer Account based Mobile Payment Systems 20 (b) Mobile Phone based e-money Systems 20 2.5 Internet based Payment Systems 21 2.6 Tele banking 22 2.7 Postal Instruments 22 2.8 Other 23 2.9 Common Card and Payment Switch (CCAPS) 23 (a) Common ATM Switch (CAS) 23 (b) Common Electronic Fund Transfer Switch (CEFTS) 24 (c) Shared ATM Switch (SAS) 25 3 Asian Clearing Union (ACU) 26 4 Society for Worldwide Interbank Financial Telecommunication (SWIFT) 27 5 Transactions through Payment Systems/Instruments 28 6 Key Indicators 29 7 Licensed Service Providers of Payment Cards and Mobile 30 Payment Systems 8 Regulatory Framework of Payment and Settlement Systems in Sri Lanka 32 9 Chronology of Major Events in the Payment and Settlement Systems in 33 Sri Lanka Payments Bulletin - First Q u a r t e r 2019 Page 2 1 Currency in Circulation The Central Bank of Sri Lanka (CBSL) has the sole authority to issue currency notes and coins on behalf of the Government of Sri Lanka.
    [Show full text]
  • Fitch Revises Ratings on 11 Sri Lankan Financial Institutions on National Scale Recalibration
    10/16/2020 Fitch Revises Ratings on 11 Sri Lankan Financial Institutions on National Scale Recalibration RATING ACTION COMMENTARY Fitch Revises Ratings on 11 Sri Lankan Financial Institutions on National Scale Recalibration Wed 10 Jun, 2020 - 10:50 AM ET Fitch Ratings - Colombo/Singapore - 10 Jun 2020: Fitch Ratings has revised the National Long- Term Ratings of Sri Lankan financial institutions following the recalibration of the agency's Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch's downgrade of the sovereign rating to 'B-'/Negative from 'B'/Negative on 24 April 2020. Revision ratings are used to modify ratings for reasons that are not related to credit quality in order to reflect changes in the national rating scale. National scale ratings are a risk ranking of issuers in a particular market designed to help local investors differentiate risk. Sri Lanka's national scale ratings are denoted by the unique identifier '(lka)'. Fitch adds this identifier to reflect the unique nature of the Sri Lankan national scale. National scales are not comparable with Fitch's international rating scales or with other countries' national rating scales. For details, see "Fitch Recalibrates Sri Lanka National Rating Scale", dated 28 May 2020, at www.fitchratings.com/site/pr/10124103. The National Ratings of the Sri Lankan banks consider their creditworthiness relative to other issuers in the country. The recalibration of the Sri Lankan National Rating scale has
    [Show full text]
  • 2013 1 Hatton National Bank PLC U
    Financial Highlights 2 Financial Highlights Financial Goals / Performance 4 Key Pages 6 Management Information Chairperson’s Message 8 Managing Director’s Review of Operations 14 Board of Directors 20 Corporate Management 26 Senior Management 30 Management Discussion & Analysis 32 Customer Centre Network 86 Main Correspondents Worldwide 88 Corporate Governance Risk Management at HNB 90 Your Boardroom Governance Report 116 Directors’ Statement on Internal Control 151 Independent Assurance Report 153 Sustainability Report The Journey Towards Sustainability 155 Integrating Sustainability 156 Sustainability Strategy 156 Sustainability Commitment for the Short and Medium Term 157 The National Vision 158 Key Impacts, Risks, Opportunities 159 Report Scope and Boundary 164 Sustainability Stewardship 165 Stakeholder Engagement 169 Economic Wealth Creation 178 Social Performance 184 Environmental Citizenship 204 Independent Assurance Report 213 GRI Statement 214 GRI Indicators 215 Financial Calendar 232 Financial Reports Annual Report of the Board of Directors on the Affairs of the Company 234 Directors’ Interest in Contracts with the Bank 244 The Human Resources and Remuneration Committee Report 246 Nomination Committee Report 247 The Board Integrated Risk Management Committee Report 248 Audit Committee Report 249 CEO’s and CFO’s Responsibility Statement 251 Directors’ Responsibility for Financial Reporting 252 Independent Auditors’ Report 253 Income Statement 254 Statement of Comprehensive Income 255 Statement of Financial Position 256 Statement
    [Show full text]
  • People's Bank | Annual Report 2010
    A perehera is a unique amalgam of skill, aptitude and culture, passed down through generations and still evolving to mirror changing times… its relevance to People’s Bank appears inside… PEOPLE’S BANK No. 75, Sir Chittampalam A. Gardiner Mawatha, Colombo 2, Sri Lanka. | Tel: +94 112 481 481, +94 112 327 841 - 6, +94 112 446 316 Website: www.peoplesbank.lk | E-mail: [email protected] People’s Bank | Annual Report 2010 2010 2009 % y49 years in banking services. Bottom Line Performance yNumber of banking outlets increased to 329 and service centres Profit before Taxation (Rs. Mn) 8,771 6,076 44.4 increased to 350, expanding our total branch network to 679; the Capital in Hand (Rs. Mn) 20,838 17,800 17.1 largest in Sri Lanka. Productivity yNumber of ATMs increased to 330, adding 30 new machines this Net Revenue (Rs. Mn) 31,897 30,635 4.1 year. Cost/Income Ratio (%) 60.2 60.6 – yCustomer accounts close to 13 Mn. Head Count (Excluding Outsourced) 8,399 8,863 (5.2) Profit per Employee (Rs. ‘000) 620 375 65.5 yValue of deposits increased by 16.7% totaling 462 Bn in year 2010. Credit Management yBank ratings were upgraded - Fitch Rating AA-(Positive) and RAM Loans & Advances (Gross) (Rs. Mn) 371,804 299,077 24.3 Ratings AAA. Non-Performing Loan (NPL) Value (Rs. Mn) 18,738 20,040 (6.5) yRs 9.9 Bn paid in taxes, dividends and levies to the Government of NPL Ratio (%) 5.0 6.7 – Sri Lanka. Provisions for NPLs (Rs.
    [Show full text]
  • Illuminating Path to Prosperity Regional Development Bank Development Bank Regional Kandy Road, No
    Regional Development Bank Annual Report 2017 Development Bank Annual Report Regional Illuminating path to Regional Development Bank prosperity No. 933, Kandy Road, Wedamulla, Kelaniya, Sri Lanka Annual Report 2017 Illuminating path to prosperity to Illuminating path www.rdb.lk CONTENTS Financial Chairman‘s Milestone Highlights Statement 1 Page 3 2 3 Page 5 Page 6 General Manager/ Management Chief Executive Discussion and Stewardship 4 Officer’s Review 5 Analysis 6 Page 29 Page 9 Page 12 Financial Reports 7 Page 79 1 Regional Development Bank Annual Report 2017 Illuminating path to prosperity As a national bank, we are dedicated to improving the living standards of the rural masses of Sri Lanka by providing readily accessible and affordable financial solutions that in turn would contribute significantly to the upliftment of the rural economy. The Bank therefore sees itself as a pathfinder for the masses, illuminating theirs and the Nation’s path to sustainable prosperity. 2 Regional Development Bank Annual Report 2017 Regional Development Bank… Vision The beginning of Regional Development Bank (RDB) Nurturing entrepreneurs who will goes back to the year 1985, when district level banks propel our Country’s socio-economic under the category of Regional Rural Development prosperity Banks were established. In 1997, seventeen such Regional Rural Development Banks were merged into six Provincial Level Banks, Mission namely Rajarata, Ruhuna, Wayamba, Uva, Kandurata We provide financial and advisory and Sabaragamuwa Development Banks. services through a dedicated team of professionals aims to productively These six provincial banks were further merged in May 2010, as a national level development bank and uplift the socio-economic prosperity of named the Pradeshiya Sanwardhana Bank regions (Regional Development Bank or RDB).
    [Show full text]
  • Sampath Bank | Annual Report 2013
    Your point of view Sampath Bank | Annual Report 2013 Yourpoint of } Financial reports are often little more than an advertising tool for the companies that produce them; promotional productions that showcase the company yet reveal little of the back office operations that really make things go. This report is a little different. In this report, we’re looking at our operations from your point of view. We’ve focused on presenting the numbers, facts and figures that you need to know, giving you a crystal clear picture of where we were in 2013 and where we’re going in 2014. We will describe our strategic plans and vision of how we shall widen our reach and diversify our business portfolio even further. And since we’re the third largest private bank in Sri Lanka, there’s a lot going on. From increased deposits and improved asset mobilisation to an even broader footprint across the island… your Bank is moving fast forward into a very promising year ahead. Read this report carefully. It’s all about Sampath Bank - from your point of view. Sampath Bank was originally incorporated as the Investment and Credit Bank Limited in 1986 with Mr N U Jayawardena as the Chairman of the Board. In 1988, Sampath Bank launched the first multi- point network of automated teller machines in Sri Lanka. The Bank also introduced the first debit card in South Asia in 1997. Many times awarded, Sampath Bank has won the World Finance Award 2012, the National Best Quality ICT Awards 2011, the Bank of the Year award from The Banker of Financial Times Limited London for two consecutive years and the National Business Excellence Award of Sri Lanka in 2010.
    [Show full text]