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SUPPLEMENTARY INFORMATION

FINANCIAL STATEMENTS IN USD

STATEMENT OF PROFIT OR LOSS IN USD

For the year ended 31 December Bank
2024
USD '000		 Bank
2023
USD '000		 Group
2024
USD '000		 Group
2023
USD '000
Total income 1,659,032 1,673,814 1,691,560 1,703,696
Interest income 1,576,009 1,620,130 1,602,231 1,643,839
Less : Interest expenses 1,003,343 1,338,620 1,015,295 1,348,985
Net interest income 572,666 281,510 586,936 294,854
Fee and commission income 103,955 79,880 105,432 80,992
Less : Fee and commission expenses 33,503 25,378 33,652 25,430
Net fee and commission income 70,452 54,502 71,780 55,562
Net gains/ (losses) from trading 11,736 (16,510) 11,870 (15,940)
Net fair value gains/ (losses) from financial instruments at fair value through profit or loss 5,153 2,651 5,860 4,473
Net gains/ (losses) from derecognition of financial assets (12,300) 4,204 (9,886) 4,538
Net other operating income (25,521) (16,542) (23,947) (14,206)
Total operating income 622,186 309,815 642,613 329,281
Less : Impairment charge/ (reversal) for loans and other losses (69,529) (15,146) (70,818) (15,586)
Net operating income 691,715 324,961 713,431 344,867
Less : Operating expenses
Personnel expenses 137,694 92,053 146,784 99,751
Depreciation and amortisation expenses 14,338 11,895 14,724 13,056
Other expenses 77,252 57,376 83,935 63,207
Total operating expenses 229,284 161,324 245,443 176,014
Operating profit/ (loss) before taxes on financial services 462,431 163,637 467,988 168,853
Less : Taxes on financial services & Social Security Contribution Levy (SSCL) 97,050 39,094 98,400 39,997
Operating profit/ (loss) after taxes on financial services 365,381 124,543 369,588 128,856
Share of profits/ (losses) of associate companies, net of tax - - 295 104
Profit/ (loss) before income tax 365,381 124,543 369,883 128,960
Less : Income tax expense/ (reversal) 145,317 42,136 147,514 43,700
Profit/ (loss) for the year 220,064 82,407 222,369 85,260
Profit attributable to :
Equity holder of the Bank 220,064 82,407 222,185 85,118
Non-controlling interest - - 184 142
Profit/ (Loss) for the year 220,064 82,407 222,369 85,260
Earnings per share and Dividend per share
Basic earnings per share (USD) 8.80 3.30 8.89 3.40
Diluted earnings per share (USD) 8.55 3.20 8.64 3.31
Dividend per share (USD) - 0.02 - 0.02

Exchange rate of 1 USD was LKR 292.5833 as at 31 December 2024. (LKR 323.9233 as at 31 December 2023)

The Statement of Profit or Loss given in this page does not form part of the Audited Financial Statements and it is solely for the convenience of the shareholders, investors, bankers and other interested parties of the Financial Statements of the Bank.

STATEMENT OF COMPREHENSIVE INCOME IN USD

For the year ended 31 December Bank
2024
USD '000		 Bank
2023
USD '000		 Group
2024
USD '000		 Group
2023
USD '000
Profit/ (Loss) for the year 220,064 82,407 222,369 85,260
Items that will be reclassified to the profit or loss
Exchange differences on translation of foreign operations (6,321) (6,105) (8,544) (7,058)
Net gains/ (losses) on cash flow hedge instruments (12,749) (62,883) (12,749) (62,883)
Net gains/ (losses) on investments in debt instruments measured at fair value through other comprehensive income (FVTOCI) 2,516 511 2,548 842
Net (gains)/ losses on investment in financial assets at FVTOCI reclassification to profit or loss - - (23) -
Deferred tax effect on above (753) (458) (753) (458)
Share of other comprehensive income of Associate companies, net of tax - - 57 (7)
Total items that will be reclassified to the profit or loss (17,307) (68,935) (19,464) (69,564)
Items that will not be reclassified to the profit or loss
Change in fair value on investments in equity instruments measured at fair value through other comprehensive income (FVTOCI) 9,508 5,516 6,538 7,448
Deferred tax effect on above (412) (333) (412) (333)
Changes in revaluation surplus/ (deficit) - 21,242 (478) 26,658
Deferred tax effect on above - (6,056) 143 (7,681)
Net actuarial gains/ (losses) on defined benefit plans (47,148) (58,471) (47,377) (58,721)
Deferred tax effect on above 14,145 17,541 14,212 17,614
Total items that will not be reclassified to the profit or loss (23,907) (20,561) (27,374) (15,015)
Other comprehensive income for the year, net of tax (41,214) (89,496) (46,838) (84,579)
Total comprehensive income for the year 178,850 (7,089) 175,531 681
Attributable to:
Equity holder of the Bank 178,850 (7,089) 175,409 487
Non-controlling interest - - 122 194
Total comprehensive income for the year 178,850 (7,089) 175,531 681

Exchange rate of 1 USD was LKR 292.5833 as at 31 December 2024. (LKR 323.9233 as at 31 December 2023)

The Statement of Comprehensive Income given in this page does not form part of the Audited Financial Statements and it is solely for the convenience of the shareholders, investors, bankers and other interested parties of the Financial Statements of the Bank.

STATEMENT OF FINANCIAL POSITION IN USD

As at 31 December Bank
2024
USD '000		 Bank
2023
USD '000		 Group
2024
USD '000		 Group
2023
USD '000
Assets
Cash and cash equivalents 394,494 418,465 397,432 424,079
Balances with Central Banks 178,911 107,842 178,911 107,842
Placements with banks 213,317 231,432 210,459 225,439
Securities purchased under resale agreements 81,968 11,459 73,761 11,408
Derivative financial instruments 80,321 63,366 80,321 63,366
Financial assets recognised through profit or loss measured at fair value 71,785 125,470 101,723 150,748
Financial assets at amortised cost
loans and advances 7,443,035 6,819,707 7,591,554 6,917,104
debt and other instruments 7,778,757 5,105,309 7,801,662 5,124,710
Financial assets measured at fair value through OCI 177,897 152,919 184,094 161,148
Investment in subsidiary companies 27,617 25,256 - -
Investment in associate companies 318 287 2,833 2,276
Investment properties 8,253 7,454 - 295
Property, Plant and Equipment 155,926 131,403 212,959 183,892
Right of Use Assets/ Leasehold properties 18,984 10,832 11,467 9,220
Intangible assets 5,499 4,800 5,845 5,108
Deferred tax assets 54,126 57,123 54,574 57,405
Other assets 347,150 346,607 347,906 348,608
Total assets 17,038,358 13,619,731 17,255,501 13,792,648
Liabilities
Due to banks 5,711 9,409 5,750 9,763
Securities sold under repurchase agreements 448,007 242,227 444,423 240,272
Derivative financial instruments 56,312 6,697 56,312 6,697
Financial liabilities at amortised cost
due to depositors 14,384,291 11,985,036 14,510,506 12,069,464
other borrowings 99,608 103,933 110,547 109,880
Debt securities issued - - 2,457 2,256
Current tax liabilities 79,327 23,529 80,641 24,319
Deferred tax liabilities - - 9,950 9,056
Insurance contract liabilities - Life - - 1,370 1,110
Insurance contract liabilities - Non life - - 1,449 2,074
Other liabilities 696,761 272,106 696,646 277,337
Subordinated liabilities 234,243 199,713 233,378 198,928
Total liabilities 16,004,260 12,842,650 16,153,429 12,951,156
Equity
Share capital 87,941 79,432 87,941 79,432
Permanent reserve fund 57,942 48,360 57,942 48,360
Retained earnings 626,792 528,988 634,133 534,272
Cashflow hedge reserve 5,200 16,212 5,200 16,212
Other reserves 256,223 104,089 312,920 159,756
Total equity attributable to equity holder of the Bank 1,034,098 777,081 1,098,136 838,032
Non-controlling interest - - 3,936 3,460
Total equity 1,034,098 777,081 1,102,072 841,492
Total liabilities and equity 17,038,358 13,619,731 17,255,501 13,792,648
Contingent liabilities and commitments 6,112,093 4,751,761 6,115,852 4,781,663
Net assets value per share (USD) 41.36 31.08 43.93 33.52

Exchange rate of 1 USD was LKR 292.5833 as at 31 December 2024. (LKR 323.9233 as at 31 December 2023)

The Statement of Financial Position given in this page does not form part of the Audited Financial Statements and it is solely for the convenience of the shareholders, investors, bankers and other interested parties of the Financial Statements of the Bank.