Annual Report 2012 - National Savings Bank

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206THE RESULTS OF A CHALLENGING YEARSTATEMENT OF FINANCIAL POSITIONBankAs at 31st December 2012 2011 Change 2012 2011 ChangeNote Rs. ‘000 Rs. ‘000 % Rs. ‘000 Rs. ‘000 %AssetsCash and cash equivalents 16 1,465,542 1,398,413 4.80 1,467,042 1,399,897 4.80Balances with Central Bank 17 - - - 242 117 106.84Placements with banks 18 5,973,585 5,280,528 13.12 5,973,585 5,280,528 13.12Derivative financial instruments 19 9,401 34,458 (72.72) 9,401 34,458 (72.72)Other financial assets held-for-trading 20 10,823,874 11,589,525 (6.61) 10,823,874 11,589,525 (6.61)Financial assets designated at fair value throughprofit or loss 21 - - - 5,488,970 8,599,007 (36.17)Loans and receivables to banks 22 13,374,007 21,222,723 (36.98) 14,091,299 23,829,757 (40.87)Loans and receivables to other customers 23 155,245,236 116,217,344 33.58 155,249,483 116,228,559 33.57Financial investments - Available-for-sale 24 2,978,800 3,284,099 (9.30) 2,979,800 3,285,099 (9.29)Financial investments - Held to maturity 25 309,595,845 298,134,819 3.84 313,063,745 300,916,743 4.04Investments in subsidiaries 26 150,000 150,000 - - - -Property, plant and equipment 27 5,151,512 5,124,327 0.53 5,152,416 5,125,312 0.53Intangible assets 28 112,101 122,782 (8.70) 112,264 123,024 (8.75)Deferred tax assets 29 - - - 313 221 41.63Other assets 30 4,814,290 3,415,416 40.96 4,857,794 3,468,834 40.04Total assets 509,694,193 465,974,434 9.38 519,270,228 479,881,081 8.21GroupLiabilitiesDue to banks 31 337,014 128,948 161.36 5,603,182 8,962,642 (37.48)Due to other customers 32 457,650,387 421,849,063 8.49 457,650,387 421,849,063 8.49Other borrowings 33 22,620,945 16,141,529 40.14 25,628,549 19,923,444 28.64Current tax liabilities - - - 38,859 47,967 (18.99)Deferred tax liabilities 29 123,338 95,615 28.99 123,338 95,615 28.99Other liabilities 34 4,626,718 4,706,796 (1.70) 4,640,398 4,709,479 (1.47)Total liabilities 485,358,402 442,921,951 9.58 493,684,713 455,588,210 8.36EquityStated capital 35 3,200,000 3,200,000 - 3,200,000 3,200,000 -Statutory reserve fund 36 1,713,127 1,626,500 5.33 1,713,127 1,626,500 5.33Other reserves 37 19,422,664 18,225,983 6.57 20,672,388 19,466,371 6.20Total equity of the owners of the parent 24,335,791 23,052,483 5.57 25,585,515 24,292,871 5.32Total equity 24,335,791 23,052,483 5.57 25,585,515 24,292,871 5.32Total equity and liabilities 509,694,193 465,974,434 9.38 519,270,228 479,881,081 8.21Contingent liabilities and commitments 38 6,845,410 1,730,018 295.68 6,845,410 1,730,018 295.68NATIONAL SAVINGS BANK . ANNUAL REPORT 2012
207THE RESULTS OF A CHALLENGING YEARSTATEMENT OF FINANCIAL POSITIONSignificant Accounting Policies and Notes to the Financial Statements disclosed on pages 211 to 250 are integral part of these FinancialStatements.CertificationI certify that the above Financial Statements give a true and fair view of the state of affairs as at 31st December 2012 and its profit for theyear ended 31st December 2012K.B. WijeyaratneDeputy General Manager (Finance & Planning)The Board of Directors is responsible for the preparation and presentation of these Financial Statements.Approved and signed for and on behalf of the Board.Sunil S. Sirisena S.T. Abeygunawardana H.M. Hennayaka BandaraChairman Working Director General Manager / CEO27th March 2013Colombo, Sri LankaNATIONAL SAVINGS BANK . ANNUAL REPORT 2012
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ROOTEDANNUAL REPORT 2012
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ROOTEDNATIONAL SAVINGS BANK l ANNUA
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5MISSIONProviding our customers wit
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7ROOTEDFor over 40 years, the Natio
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92000Establishment of subsidiary co
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11HOW WE PERFORMED IN 2012FINANCIAL
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13CHAPTER 1FIRMLY ANCHOREDSTRATEGY
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15A MESSAGE FROM MR SUNIL S. SIRISE
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17A MESSAGE FROM MR SUNIL S. SIRISE
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19A REVIEW BYMR. HENNAYAKE BANDARAG
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21A REVIEW BY MR HENNAYAKE BANDARAG
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23A REVIEW BY MR HENNAYAKE BANDARAG
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25CHAPTER 2HOW WE PERFORMED IN 2012
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33HOW WE PERFORMED IN 2012ECONOMIC
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35HOW WE PERFORMED IN 2012ECONOMIC
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37HOW WE PERFORMED IN 2012ACHIEVEME
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39HOW WE PERFORMED IN 2012OPERATION
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51HOW WE PERFORMED IN 2012FUTURE PL
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53CHAPTER 3ROOTED IN OUR HERITAGEGO
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55ROOTED IN OUR HERITAGEGOVERNANCE
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85ROOTED IN OUR HERITAGEBOARD OF DI
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87ROOTED IN OUR HERITAGEBOARD OF DI
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89ROOTED IN OUR HERITAGEGENERAL MAN
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91ROOTED IN OUR HERITAGECORPORATE M
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93ROOTED IN OUR HERITAGEEXECUTIVE M
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95ROOTED IN OUR HERITAGEREPORT OF T
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101ROOTED IN OUR HERITAGEREPORT OF
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103CHAPTER 4ASSESSING AND MANAGING
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105ASSESSING AND MANAGING OUR RISK
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137CHAPTER 5BRANCHING OUT INTO NEW
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139BRANCHING OUT INTO NEW VENTURESS
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Page 157 and 158: 155BRANCHING OUT INTO NEW VENTURESS
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Page 253 and 254: 251CHAPTER 7ANNEXURESNATIONAL SAVIN
Page 255 and 256: 253STATEMENT OF FINANCIAL POSITION
Page 257 and 258: 255TEN YEARS AT A GLANCE(Rs Mn)Year
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257OUR PRODUCTS AND SERVICESSAVINGS
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259OUR PRODUCTS AND SERVICES19. Ran
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261OUR PRODUCTS AND SERVICESOUR EXT
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263BRANCH NETWORKCentral Province1.
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265CORRESPONDENT BANKSCiti Bank NA,
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267EXCHANGE COMPANIESHabib Qatar In
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269GLOSSARYCredit RatingsAn evaluat
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271GLOSSARYReturn on Average Assets
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273CORPORATE INFORMATIONCOMPLIANCE
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