My Report
Financial Statements
Statement of Changes in Equity – Bank
Managing Director/Chief Executive Officer's and Chief Financial Officer's Statement of Responsibility
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Independent Assurance Report - Internal Control
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Other reserves |
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Note |
Stated capital Rs. ’000 |
Statutory reserve fund Rs. ’000 |
Retained earnings Rs. ’000 |
Revaluation reserve Rs. ’000 |
Fair value reserve Rs. ’000 |
Foreign currency translation reserve Rs. ’000 |
Hedging reserve Rs. ’000 |
Employee share option reserve Rs. ’000 |
Special reserve Rs. ’000 |
General reserve Rs. ’000 |
Shareholders’ funds Rs. ’000 |
Non- controlling interest Rs. ’000 |
Total equity Rs. ’000 |
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| Balance as at December 31, 2022 | 58,149,621 | 11,352,858 | 5,592,121 | 9,396,542 | 78,743 | 18,941,705 | 36,554 | 150,529 | – | 100,000,003 | 203,698,676 | - | 203,698,676 | |
| Total comprehensive income for the year 2023 | ||||||||||||||
| Profit for the year | – | – | 20,460,962 | – | – | – | – | – | – | – | 20,460,962 | – | 20,460,962 | |
| Other comprehensive income, net of tax | – | – | (230,394) | 1,003,035 | 1,885,252 | (11,086,172) | (36,554) | – | – | – | (8,464,833) | – | (8,464,833) | |
| Net actuarial gains/(losses) on defined benefit plans | – | – | (239,530) | – | – | – | – | – | – | – | (239,530) | – | (239,530) | |
| Net change in revaluation surplus | 55.1 | – | – | – | 1,012,171 | – | – | – | – | – | – | 1,012,171 | – | 1,012,171 |
| Revaluation surplus transferred to retained earnings upon the disposal of freehold land | 55.1 | – | – | 9,136 | (9,136) | – | – | – | – | – | – | – | – | – |
| Net fair value gains/(losses) on remeasuring financial assets measured at fair value through other comprehensive income | 55.3 | – | – | – | – | 1,885,252 | – | – | – | – | – | 1,885,252 | – | 1,885,252 |
| Net gains/(losses) arising from translating the Financial Statements of the foreign operations | 55.4 | – | – | – | – | – | (11,086,172) | – | – | – | – | (11,086,172) | – | (11,086,172) |
| Cash flow hedges – effective portion of changes in fair value, net of tax | 55.6 | – | – | – | – | – | – | (36,554) | – | – | – | (36,554) | – | (36,554) |
| Total comprehensive income for the year 2023 | – | – | 20,230,568 | 1,003,035 | 1,885,252 | (11,086,172) | (36,554) | – | – | – | 11,996,129 | – | 11,996,129 | |
| Transactions with owners recognised directly in equity, contributions by and distributions to owners | ||||||||||||||
| Issue of ordinary voting shares under employee share option plans | 51 | 51,740 | – | – | – | – | – | – | – | – | – | 51,740 | – | 51,740 |
| Transfer o/a share-based payment transactions | 51 | 4,491 | – | – | – | – | – | – | (4,491) | – | – | – | – | – |
| Transfer of cost o/a of expired ESOP shares (net of tax) | 54 & 55.5 | – | – | 47,510 | – | – | – | – | (67,871) | – | – | (20,361) | – | (20,361) |
| Dividends to equity holders | 4,742,151 | – | (5,558,766) | – | – | – | – | – | – | – | (816,615) | – | (816,615) | |
| First & final dividend for 2022 satisfied in the form of cash | – | – | – | – | – | – | – | – | – | – | – | – | – | |
| First & final dividend for 2022 satisfied in the form of issue and allotment of new shares | 25 & 51 | 4,742,151 | – | (5,579,001) | – | – | – | – | – | – | – | (836,850) | – | (836,850) |
| Unclaimed dividend absorbed/(dividend paid) in respect of previous years | – | – | 20,235 | – | – | – | – | – | – | – | 20,235 | – | 20,235 | |
| Share-based payment transactions | 55.5 | – | – | – | – | – | – | – | 21,433 | – | – | 21,433 | – | 21,433 |
| Transfers during the year | 53 to 55 | – | 1,023,048 | (11,753,048) | – | – | – | – | – | – | 10,730,000 | – | – | – |
| Total transactions with equity holders | 4,798,382 | 1,023,048 | (17,264,304) | – | – | – | – | (50,929) | – | 10,730,000 | (763,803) | – | (763,803) | |
| Balance as at December 31, 2023 | 62,948,003 | 12,375,906 | 8,558,385 | 10,399,577 | 1,963,995 | 7,855,533 | – | 99,600 | – | 110,730,003 | 214,931,002 | – | 214,931,002 | |
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Other reserves |
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|
Note |
Stated capital Rs. ’000 |
Statutory reserve fund Rs. ’000 |
Retained earnings Rs. ’000 |
Revaluation reserve Rs. ’000 |
Fair value reserve Rs. ’000 |
Foreign currency translation reserve Rs. ’000 |
Hedging reserve Rs. ’000 |
Employee share option reserve Rs. ’000 |
Special reserve Rs. ’000 |
General reserve Rs. ’000 |
Shareholders’ funds Rs. ’000 |
Non- controlling interest Rs. ’000 |
Total equity Rs. ’000 |
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| Total comprehensive income for the year 2024 | ||||||||||||||
| Profit for the year | – | – | 54,073,504 | – | – | – | – | – | – | – | 54,073,504 | – | 54,073,504 | |
| Other comprehensive income, net of tax | – | – | (419,134) | – | 1,032,353 | (10,890,433) | – | – | – | – | (10,277,214) | – | (10,277,214) | |
| Net actuarial gains/(losses) on defined benefit plans | – | – | (419,134) | – | – | – | – | – | – | – | (419,134) | – | (419,134) | |
| Net fair value gains/(losses) on remeasuring financial assets measured at fair value through other comprehensive income | 55.3 | – | – | – | – | 1,032,353 | – | – | – | – | – | 1,032,353 | – | 1,032,353 |
| Net gains/(losses) arising from translating the Financial Statements of the foreign operations | 55.4 | – | – | – | – | – | (10,890,433) | – | – | – | – | (10,890,433) | – | (10,890,433) |
| Total comprehensive income for the year 2024 | – | – | 53,654,370 | – | 1,032,353 | (10,890,433) | – | – | – | – | 43,796,290 | – | 43,796,290 | |
| Transactions with owners recognised directly in equity, contributions by and distributions to owners | ||||||||||||||
| Proceeds from Right issue of Ordinary shares | 51 | 22,543,555 | – | – | – | – | – | – | – | – | – | 22,543,555 | – | 22,543,555 |
| Issue of ordinary voting shares under employee share option plans | 51 | 272,475 | – | – | – | – | – | – | – | – | – | 272,475 | – | 272,475 |
| Transfer o/a share-based payment transactions | 51 | 19,017 | – | – | – | – | – | – | (19,017) | – | – | – | – | – |
| Transfer of cost o/a of expired ESOP shares (net of tax) | 54 & 55.5 | – | – | 42,808 | – | – | – | – | (61,154) | – | – | (18,346) | – | (18,346) |
| Dividends to equity holders | 2,234,044 | – | (8,519,454) | – | – | – | – | – | – | – | (6,285,410) | – | (6,285,410) | |
| First & final dividend for 2023 satisfied in the form of cash | 25 | – | – | (5,913,644) | – | – | – | – | – | – | – | (5,913,644) | – | (5,913,644) |
| First & final dividend for 2023 satisfied in the form of issue and allotment of new shares | 25 & 51 | 2,234,044 | – | (2,628,286) | – | – | – | – | – | – | – | (394,242) | – | (394,242) |
| Unclaimed dividend absorbed/(dividend paid) in respect of previous years | – | – | 22,476 | – | – | – | – | – | – | – | 22,476 | – | 22,476 | |
| Share-based payment transactions | 55.5 | – | – | – | – | – | – | – | 22,180 | – | – | 22,180 | – | 22,180 |
| Transfers during the year | 53 to 55 | – | 2,703,675 | (38,405,169) | – | – | – | – | – | 8,731,494 | 26,970,000 | – | – | – |
| Total transactions with equity holders | 25,069,091 | 2,703,675 | (46,881,815) | – | – | – | – | (57,991) | 8,731,494 | 26,970,000 | 16,534,454 | – | 16,534,454 | |
| Balance as at December 31, 2024 | 88,017,094 | 15,079,581 | 15,330,940 | 10,399,577 | 2,996,348 | (3,034,900) | – | 41,609 | 8,731,494 | 137,700,003 | 275,261,746 | – | 275,261,746 | |
The Notes appearing on pages 307 to 458 form an integral part of these Financial Statements.