The Case Study - Seylan Bank

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222Seylan Bank PLC Annual Report 2009Notes to the Consolidated Financial Statements46. Comparative InformationThe following comparative figures have been reclassified in the 2009 Financial Statements to maintaincomparability of Financial Statements in order to provide a better presentation.Income statementAs disclosedBankReclassified Adjustmentin 2008in 2009Rs.‘000 Rs.‘000 Rs.‘00046.aInterest Income 21,572,430 21,552,070 20,360Other Income 1,201,222 1,221,582 (20,360)Net Fee and Commission Income 1,801,826 1,749,737 52,089Fee and Commission Expense 52,089 – 52,089Operating Expenses 8,262,329 10,677,427 (2,415,098)Provision for Loan Losses 2,467,187 – 2,467,187Personnel Expenses 3,274,335 3,405,714 (131,379)Provision for Staff Retirement Benefit 131,379 – 131,379a i Capital gains/losses from Government Securities (Rs. 21.916 Mn.) and gain/loss from marked to marketvaluation Rs. 1.555 Mn. included in other income have been reclassified as Treasury Bills, Bonds andplacements with other Banks (Rs. 20.36 Mn.) under Interest Income.a ii Fee and Commission Income included in other income has been reclassified as net fee and commissionincome. Accordingly, commission expense included under operating expense amounting to Rs. 52.089 Mn.is deducted from the Fee and Commission Income.a iii Loan loss provision of Rs. 2,467.187 Mn. (after profit on ordinary activities before loan loss provision, taxesand associate company profits) has been reclassified and presented separately as provision for loan lossesunder operating expenses.a iv Provision for staff retirement benefit amounting to Rs. 131.379 Mn. included in the operating expenseshas been reclassified under personnel expenses in operating expenses.
Seylan Bank PLC Annual Report 2009 223Notes to the Consolidated Financial StatementsBalance SheetBankAs Disclosed Reclassified AdjustmentRs. ‘000 Rs. ‘000 Rs. ‘00046.bCash and Cash Equivalents 5,491,795 5,511,331 (19,536)Other Assets 4,944,560 4,929,745 14,815Property, Plant & Equipment 4,142,241 4,073,353 68,888Leasehold Rights – 64,165 (64,165)b i Balance with local banks amounting to Rs. 19.536 Mn. classified under Other Assets has been reclassifiedunder cash and cash equivalents.b ii Freehold land amounting to Rs. 4.724 Mn. under Property, Plant & Equipment is reclassified as other assets.b iii Leasehold Land & Building amounting to Rs. 64.165 Mn. is reclassified as Leasehold Rights.BankAs Disclosed Reclassified AdjustmentRs. ‘000 Rs. ‘000 Rs. ‘00046.CTreasury Bills & Bonds Eligible for Rediscounting withCentral Bank within One Year 13,176,451 – 13,176,451After One Year 11,660,853 – 11,660,853Government and Other Securities Held for Dealing Purpose 184,917 865,977 (681,060)Investment Securities 476,956 24,243,200 (23,766,244)Commercial Papers - 390,000 (390,000)25,499,177 25,499,177 –c i Treasury Bills and Bonds eligible for rediscounting with Central Bank within one year and after one yearhave been reclassified under Government and other securities held for dealing purpose and as InvestmentSecurities. Accordingly, those balances are reclassified and presented in the Notes 16 and 17.c ii Commercial papers held by Seylan Bank PLC (Lanka ORIX Leasing & Co.) of Rs. 390,000/- which wasdisclosed under Investment securities previously was reclassified as commercial papers in the Balance Sheet.BankAs Disclosed Reclassified AdjustmentRs. ‘000 Rs. ‘000 Rs. ‘00046.d Analysis of Provision for Loan Lossesand Interest in SuspenseBills of Exchange 1,484,746 1,471,831 12,915Loans and Advances 97,691,569 97,746,084 (54,515)Lease Rentals Receivable within One Year 2,287,473 2,245,873 41,600Provision for bad and doubtful debts for above figures are restated including general provisions forloan losses.
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Copyright © 2009 Seylan Bank PLCSt
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9{ Chapter 1 }Growth and ItsChallen
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Growth and Its Challenges11Rapid, P
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Growth and Its Challenges13“Despi
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Growth and Its Challenges15The comp
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25{ Chapter 3 }Swift andDecisive Ac
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Swift and Decisive Action27The sign
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35{ Chapter 4 }Reassuringthe Public
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Reassuring the Public37A Multi-Fron
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49{ Chapter 6 }A Sound FutureStrate
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A Sound Future Strategy51StructureL
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The Case Study - Seylan Bank

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