Our Strategy
Value Added Statement
GRI 201-1
An analysis of the Bank's value creation and allocation among the key stakeholder group is depicted below:
| 2024 LKR million |
2023 LKR million |
Change % |
|
|---|---|---|---|
| VALUE ADDITION | |||
| Income earned by providing banking services | 485,125 | 545,800 | (11) |
| Cost of services | (304,382) | (404,352) | (25) |
| Value added by banking services | 180,743 | 141,448 | 26 |
| Non - banking income | 280 | (3,613) | (108) |
| Impairment charges for loans and other losses | 20,343 | 4,906 | 315 |
| Total value added | 201,366 | 142,741 | 41 |
| VALUE ALLOCATION | |||
| To Employees | |||
| Salaries, wages and other benefits | 40,287 | 29,818 | 35 |
| To Government | |||
| Dividends paid to Government of Sri Lanka | - | 173 | (100) |
| Income tax | 36,053 | 13,111 | 175 |
| Surcharge tax | 1,483 | - | - |
| Taxes on financial services | 28,395 | 12,664 | 124 |
| 65,931 | 25,948 | 154 | |
| To Community | |||
| Community investment projects | 207 | 129 | 60 |
| To Providers of External Funds | |||
| Interest on other borrowings | 12,070 | 43,882 | (72) |
| Interest on debt issued | 9,307 | 12,053 | (23) |
| 21,377 | 55,935 | (62) | |
| To Expansion and Growth | |||
| Retained profit | 64,387 | 26,520 | 143 |
| Surcharge tax paid on 2021 profit | (1,483) | - | - |
| Depreciation and amortisation | 4,195 | 3,853 | 9 |
| Deferred taxation | 6,465 | 538 | 1,101 |
| 73,564 | 30,911 | 138 | |
| Total value allocated | 201,366 | 142,741 | 41 |
