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Seylan Bank PLC-interim review 1Q 2012

Seylan Bank PLC-interim review 1Q 2012

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Published by Dilupa Tharaka

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Published by: Dilupa Tharaka on Jul 27, 2011
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HEADOFFICE
I
REGISTEREDOFFICESEYLANTOWERSP.O.Box400,90,GalleRmid,Colombo3,SriLanka.Phone(94)-(11)-2456789,4701000Fax(94)-(11)-2456456SWIFT:SEYBLKLXWebSite:www.eseylan.comE-mailinfo@seylan.lkCo.Reg.No.:PO9Yourref:Ourref:
(AmountsinRupeesThousands)BankBankFortheSixMonthsEnded
I
I
FortheQuarterEnded30thJune30thJune
20112010
Growth
20112010
Growth
%%
5,706,5515,585,3632.172,947,0702,703,043
9.03
1,955,3422,557,059(23.53)853,7321,504,949(43.27)7,661,8938,142,422
{5.90}
3,800,8024,207,992
(9.6S)
3,491,7893,916,523
(lO.S4)
1,775,7101,929,825(7.99)465,761440,8375.65199,139221,392
(lO.05)
3,957,5504,357,360
{9.lS}
1,974,8492,151,217
(S.20)
3,704,3433,785,062(2.13)1,825,9532,056,775
(11.22)
309,730174,31477.69149,14599,4904!!.!!1861,316751,89614.55445,312378,85317.541,171,046926,21026.43594,457478,34324.274,875,3894,711,272
3.4S
2,420,4102,535,118(4.52)1,488,6681,434,8633.75718,542737,205(2.53)38,41857,469
(33.l5)
18,76819,940
{S.88}
810,887748,4178.35392,510361,8938.462,322
(100.00)
2,322
{l00.
OO}
933,294922,153
1.21
471,590494,549(4.64)3,271,2673,165,2243.351,601,4101,615,909
(0.90)
1,604,1221,546,0483.76819,000919,209
(10.90)
(115,226)679
{17,069.!!6}
(13,606)2,261(701.77)499,624697,937(28.41)209,000360,860
(42.0S)
(324,951)(325,600)
(O.20)(12,087)
(201,967)(64.31)3,4079,087
62.51
3,2776,565
{SO.DB)
62,854382,103
{83.5S}
126,584167,719(24.53)196,640(50,871)
(486.SS)
100,356(44,753)(324.24)512,65058,012
(783.70)
272,62189,355(20S.10)831,9781,156,804
(28.08)
319,439706,888
(54.Bl)
I
700,000100.00700,000100.00131,9781,156,804
{88.S9}
(380,561)706,888{lS3.84}
I
123,827347,135(64.33)6,305188,978(96.66)8,151809,669(98.99)(386,866)517,910
{174.70}
I
98,604299,145
(67.04)
(40,066)193,357(120.72)(90,453)510,524
(1l7.72)
(346,800)324,553
(206.8S)
I
InterestIncome
InterestIncomeonloansandAdvancesInterestIncomeonOtherInterestEarningAssetsless:InterestExpensesInterestExpenseonDepositsInterestExpenseonOtherInterestBearingLiabilitiesNetInterestIncome
Non-InterestIncome
ForeignExchangeIncome
OtherIncomeless:Non-InterestExpensesPersonnelcostsProvisionforStaffRetirementBenefitsPremises,EquipmentandEstablishmentExpensesLossonTrading/InvestmentSecuritiesOtherOperatingExpensesLess:ProvisionforBadandDoubtfulDebtsandloansWrittenOffProvisions-General
Provisions-Specific
Recoveries(-)LoansWrittenOffLess:Provision/(Reversal)forDeclineinValueofInvestments(Net)ImpairmentLoss/(Reversal)OperatingProfitonOrdinaryActivitiesBeforeExtraOrdinaryCost
&
TaxesLess:ExtraOrdinaryCost(VRSCost)*Profit/(Loss)AfterExtraOrdinaryCostBeforeTaxes
Less:ValueAddedTaxonFinancialServices
Profit/{loss)BeforeCorporateTaxless:IncomeTaxProfit/{loss)afterTax
'Notes
to
theFinancialStatements-Note1.6
TheabovestatementsaresubjecttoauditandhavebeenpreparedincompliancewiththeformatanddefinitionsprescribedbytheCentralBankofSrilankaandwhereeverrequiredprovidesadditionaldisclosurestocomplywithSrilankaAccountingStandard35-lnterimFinancialReporting
ExecutiveDirectors:EastmanNarangoda(Chairman),RNadarajahIndependentNon-ExecutiveDirectors:NihalJayamannePC,LalithWithana,RearAdmiral(Rtd.)AnandaPeirisNon-ExecutiveDirectors:AjithDevasurendra,IsharaNanayakkara,SamanthaRanatunga,MohanDeAlwis,PiyadasaKudabalage
 
HEADOFFICE
I
REGISTEREDOFFICESEYLANTOWERSP.O.Box400,90,GalleRoad,Colombo3,SriLanka.Phone:(94)-(11)-2456789,4701000Fax(94)-(11)-2456456SWIFT:SEYBLKLXWebSite:www.eseylan.comE-mail:info@seylan.lkCo.Reg.No.:PO9YourrefOurref
GroupGroup
FortheSixMonthsEnded
FortheQuarterEnded
30thJune
30th
June
20112010
Growth
20112010
Growth
""
nterestIncome
InterestIncomeonLoansandAdvances
5,683,6405,577,649
J.90
2,927,9412,699,169
/J.4B
InterestIncomeonOtherInterestEarningAssets1,955,3472,679,117
{27.02}
853,7371,504,972{43.27}7,638,9878,256,766{7.48}3,781,6784,204,141
{10,05}
less:InterestExpenses
InterestExpenseonDeposits3,491,7823,916,523
{10.84}
1,775,7031,929,825{7.99}InterestExpenseonOtherInterestBearingliabilities492,206558,290{11.84}202,691253,154{19.93}3,983,9884,474,813
{10.97}
1,978,3942,182,979{9.37}
NetInterestIncome
3,654,9993,781,953{3.36}1,803,2842,021,162
{10.78}
Non-InterestIncomeForeignExchangeIncome
309,730174,31477,69149,14599,49049,91
OtherIncome
960,145840,93514,18523,616388,736
34,70
1,269,8751,015,249
25,08
672,761488,226
37,80
4,924,8744,797,2022.662,476,0452,509,388{1.33}
less:Non-InterestExpenses
Personnelcosts1,499,5461,456,3522.97724,009746,422
{3.00}
Provisionfor
Staff
RetirementBenefits38,41859,967{35.93}18,76820,532
{/J.59}
Premises,EquipmentandEstablishmentExpenses803,927721,78211.38389,945345,278
11.94
LossonTrading/InvestmentSecurities4,630{100.00}2,322
{100.00}
NegativeGoodwillonConsolidation(22,353)100.00(22,353)100.00OtherOperatingExpenses952,540940,773
1,25
483,467500,955{3.49}3,272,0783,183,5041.781,593,8361,615,509{1.34}1,652,7961,613,6981.42882,209893,879
(1.31)
less:ProvisionforBadandDoubtfulDebtsandloansWrittenOffProvisions-General(115,226)679
(17,069.96)
(13,606)2,261
(701.77)
Provisions-Specific499,624697,937{28.41}209,000360,860
{41.08}
Recoveries(-)(324,951)(325,600)
{0.20}
(72,087)(201,967){64.31}LoansWrittenOff3,4079,087{62.51}3,2776,565
{50.08}
62,854382,103
{83,55}
126,584167,719{24.53}Less:ProvisionI(Reversal)forDeclineinValueofInvestments(Net)196,64014,616(1,245,37)100,356(44,753){324,24}Impairmentloss!tReversal)512,65058,012
(783.70)
272,62189,355
{205.10}
OperatingProfitonOrdinaryActivitiesBeforeExtraOrdinaryCost
&
Taxes880,6521,158,967
{24.01}
382,648681,558{43.86}Less:ExtraOrdinaryCost(VRSCost)'"700,000100.00700,000100.00Profit/(Loss)AfterExtraOrdinaryCostBeforeTaxes180,6521,158,967{84.41}(317,352)681,558{146.56}Less:ValueAddedTaxonFinancialServices123,827357,636(65.38)6,305188,978{96.66}Profit!(Loss)BeforeCorporateTax56,825801,331{92.91}(323,657)492,580{165.71}Less:IncomeTax98,604317,835{68.98}(40,066)193,357
{120,72}
Profit/(Loss)afterTax(41,779)483,496
{108.64}
(283,591)299,223(194.78)AttributabletoMinorityInterest13,084(23,843)154.8820,309(12,590)261.31NetProfit/(Loss)AttributabletoShareholder,oftheBank(54,863)507,339
{110.81}
(303,900)311,813{197.46}
"Notes
to
theFinancialStatements-Note1.6
TheabovestatementsaresubjecttoauditandhavebeenpreparedincompliancewiththeformatanddefinitionsprescribedbVtheCentralBankofSriLankaandwhereeverrequiredprovidesadditionaldisclosurestocomplywithSriLankaAccountingStandard35-InterimFinancialReporting.
ExecutiveDirectors:EastmanNarangoda(Chairman),RNadarajahIndependentNon-ExecutiveDirectors:NihalJayamannePC,LalithWithana,RearAdmiral(Rtd.)AnandaPeirisNon-ExecutiveDirectors:AjithDevasurendra,IsharaNanayakkara,SamanthaRanatunga,MohanDeAlwis,PiyadasaKudabalage
 
On•BalanceSheetAaeta
Cash
in
handBalanceswithCentralBankofSriLanka
I
Other-CentralBanksDuefromBanksandotherFinancialInstitutions
Inveatmenu
TradiAlt
Account
GovernmentSecurities
OtherSecuritiesInvutmenu·HeldtoMAturity(NetofProvlaion/(Reversal)MadeforDeclineinValueofInveatmenta
o!Ir.
Im.airmcntLou)
GovernmentSecurities
Other
securities
Addl!Lessl:Increa.se/rDedinel
invalueofInveetmente
Inve.tm.eutaiuAaaociate.andSub.;idiarle.Less:
.lmoairmentLossonInvestments
Total
Loans....
AdY&D.ceaTotalPerIormln£LoanaandAdvane_
BillsofExchanp;eOverdraftsLeaseRentalsReceivablesOtherLoansInterestReceivable
TotalNon-PerfonnmRLoan.andAdvance.
BillsofExchanaeOverdrafts
Lease
Rentals
Receivabl"
Other
Loans
InterestReceivable
Total
G:ro..Loan.a
andAdvanees
Len:
Interestin
Suspense
SpecificLoanLossProvisionsGeneral
Loan
LossProvisions
Net
LoaDS:and
Advane_
OtherAssetsIncomeTaxationDeferredTax
Assets
GroupBalancesReceivableinvestmentP1·operties
t-roperty,
Pant~
~qulpment
(NctcfaccumlliatcddcpICCiation)
TotalonBalanceSheetAssets
HEADOFFICE/REGISTEREDOFFICESEYLANTOWERSP.O.Box400,90,GalleRoad,Colombo3,SriLanka.Phone(94)-(11)-2456789,4701000Fax(94)-(11)-2456456SWIFT:SEYBLKLXWebSite:www.eseylan.comE-mailinfo@seylan.lkCo.Reg.No.:PO9YourrefOurref
~
....t
A..
t
Gro:tIt
....t
A..
t
Gro,:'Ut
30/06/2011
31/12/:1010
30/06/2011
31/12/2010
4.372.592
3,742,989
16.
.G
4,372.632
3,744,545
16.77
6,246.927
5A53,833
14.54
6.246.927
5.453.833
14..54
4.824.0592,339.653
106.19
4,825.141
2,339,653
106.23
9.460.41615.414.332(38.6319.460.416
15,414,332
(3B.631
908,783
830,016
9.49
908.783830.016
9.49
25.675.623
19.639.692
30.73
25.675.62319.639.692
30.73
3.447.549
3.528.426
12.291
3,504,1473,587.149
~.311
1110.370)
86.270(227.941
1166.699\
29.941
/656.76,
793,254
358,916
121.01
(1.440.393)1978.836)
47.15
{1.440.3931
1978.836\
47.15
695,392
1.242.344
144.031
695.392
1.242.344
/44.03121.115.322
19.755.984
6.88
21.115.32219.755,984
4.88
4.690.0313.899,243
:l0.~8
4.690.0313.899,243
20.28
56.137.23850.708,039
10.71
56.137,23850.708,039
10.71
617.106786,187/21.511617,106786.187/21.51183,255,08976,391,797
S.98
83.255,08976,391,797
B.IIB
21.767173.280(87.44121.767173,280/B7.4413,690.2904,257,090(13.3113,690.2904.257,090
113.311
345.918323,937
6.79
345,918323,9376.7816,531.07818.151.300'S.93116.531.07818.151.300
18.931
2.924.8472.788.4524.892,924,8472.788.452".8923,513,!H)()25,694,059,S.49123,513,90025,694,059'8.491106,768,989102,085,8564.59106,768,989102,085,8564.59(4,883.213l{4.839,2321
0.91
(4.883.2131(4.839,2321
0.91
15.392.8071(5.716,8241
15.671
(5,392,807)(5.716.8241
/5.671
(455,429)(570,6551
I~O,19
(455.429)(570.6551(20,19196,037,54090,959.1455.5896,037,54090,959,145
5.SB
5.289,2104.255.44924.295.565.4454.492.474
23.BB
74.67942,026
77.70
77.70645.015
72.62
317.605269,56217.82317.605269,56217.8277,217461,843
IB3.2B}
488.713488.7131.442,9461.452,598
~:66J
:29257513,0104952.814203933430912144IS9389IS!149902!24
6,33
1610317:52
lSIS88
240
6.23
11.846.22610.412,01713.7711.846.22610,412,01713.7737.687,88536.155,8004.2437.687.88536.155.8004.246:2.462.83960.053,709
4,01
62.462,83960,053,7094.0J786,561820,571(4.14}786,561820,571/4.1413,394,3993,:269.812
3.81
3,394.3993,269,812
3.Bl
116,177,910110.711.9094,94116,177,910110,711,9094.94627.544757,286
117.131
627,544757.286
117,13J
652,680
1100.DO}
80,902652,680
187.601
2,043,7031,443,00041,632,043,7031,443,000
41.63
7,216,6719,429,348(23.
.f7)
7.216,6719,429,348/23.47J3,996,3653,996,3653,996,3653,996,3651.565.5031.533,719
~.O7
1.565.5031.957.278
{20.021
15,449,7&617,812,398(13.26115,530,68818.235,957
(14.83}
148,8908,:255
1,703.63
11,168,0249,272,937
20.44
11,313,1189,383,647
20.56
142,944.610137,805,4993.73143,021,716138,331,5133.3910.259.3535.567.82084,26
10,259.353
5,567,82084.26568.368568,358
5:771
568.368568.3685616824596083760570846365507
4.85
16.444,545
12,097,025
35:94
16,884,805
«.~~:~~
35.06
1,125.231
49.03
1
444,545
12,097,025
35.94
1801003613.256,727
38
1:59389ISS1499025246.33161031752151
588240
6.23
16,453,65516,289.027
J.OJ
16,5:20,65516,356,027
fOl
1348:272213908,051
3.06
1348272213908051
3.06
2993637730197078
(0.86
3000337730264078
0.86
3,5473.622
12.071
3.5783.65712.1619795
2.11
97952.11
48.S447,58
2.02
49.84
49.17
1.36
TotalDepoaitaDemandDeposits
SavingsDeposits
Tjrne
Deposits
Margin
Deposits
OtherDeposits
TotalBOrTowin,p
Borrowines
from
CBSLBorrowings
fromBanksandFinancialInetituticneinSriLankaBOITowinRSfrom
BanksandFinancial
InstitutionaAbroad
Securities
Sold
underrepurchaseaareements
SubordinatedTermDebtQth",rBorrowinzaGroupBalancesPayableOtherLiabilities
TotalOnBa1aneeSheetLia.bllltieaEquityC•italandRellerv_Stated
Ca'QitalStatutorvReserve
Fund
TotalOtherReserves
Miuorityl:u.tclI:_tTotalEulCaItalanR....eI'Ve.TotalOn•BalanceSheetLiabiUtiesandEquityCapitalandReservesOff·BalanceSheetItem.andContraAeeounu
ContingenciesCommitmentsandContraAccounts
Memora.n~umInormation
NumberofEmoloveesNumberofBranches
NetAuetValuePerOrdinaryShare(R....)
July25,2011ColoIDbo
R.
NadDraJah
Executive
Director
ExecutiveDirectors:EastmanNarangoda(Chairman),RNadarajahIndependentNon-ExecutiveDirectors:NihalJayamannePC,LalithWithana,RearAdmiral(Rtd.)AnandaPeirisNon-ExecutiveDirectors:AjithDevasurendra,lsharaNanayakkara,SamanthaRanatunga,MohanDeAlwis,PiyadasaKudabalage

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