Annual Report 2012 - National Savings Bank

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240THE RESULTS OF A CHALLENGING YEARNOTES TO THE FINANCIAL STATEMENTS37. Other Reserves37. a. Bank 2012Opening balance at01-01-2012Movement/TransfersClosing balance at31-12-2012Rs. ‘000 Rs. ‘000 Rs. ‘000General reserve 14,474,432 272,968 14,747,400Revaluation reserve 1,583,340 - 1,583,340Available-for-sale reserve 345,959 (210,840) 135,119Others (Refer Note 01) 1,822,252 1,134,553 2,956,805Total 18,225,983 1,196,681 19,422,66437. b. Bank 2011Opening balance at01-01-2011Movement/TransfersClosing balance at31-12-2011Rs. ‘000 Rs. ‘000 Rs. ‘000General reserve 13,608,293 866,139 14,474,432Revaluation reserve 1,583,340 - 1,583,340Available-for-sale reserve 834,824 (488,865) 345,959Others (Refer Note 01) 1,822,252 - 1,822,252Total 17,848,709 377,274 18,225,98337. c. Group - 2012Opening balance at01-01-2012Movement/TransfersClosing balance at31-12-2012Rs. ‘000 Rs. ‘000 Rs. ‘000General reserve 15,419,489 279,970 15,699,459Revaluation reserve 1,583,340 - 1,583,340Available-for-sale reserve 345,959 (210,840) 135,119Others (Refer Note 01) 2,117,583 1,136,887 3,254,470Total 19,466,371 1,206,017 20,672,38837. d. Group - 2011Opening balance at01-01-2011Movement/TransfersClosing balance at31-12-2011Rs. ‘000 Rs. ‘000 Rs. ‘000General reserve 14,521,447 898,042 15,419,489Revaluation reserve 1,583,340 - 1,583,340Available-for-sale reserve 834,824 (488,865) 345,959Others (Refer Note 01) 2,106,947 10,635 2,117,583Total 19,046,558 419,812 19,466,371NATIONAL SAVINGS BANK . ANNUAL REPORT 2012
241THE RESULTS OF A CHALLENGING YEARNOTES TO THE FINANCIAL STATEMENTS37 - Note - 01 Investment Fund ReserveFor the year ended 31st December 2012 2011 2012 2011Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000Opening balance 1,581,572 - 1,581,572 -Add: Transferred during the year 1,248,427 1,581,572 1,248,427 1,581,572Closing balance 2,829,999 1,581,572 2,829,999 1,581,572As required by the Government Budget 2011 and subsequent direction from Central Bank of Sri Lanka,with effect from January 1, 2011 thebank is required to transfer an mount equivalent to 8% of the VAT on Financial services and 5% of the Income Tax to an Investment FundAccount.Investment made under Investment Fund AccountBankGroupFor the year ended 31st December Interest Tenure 2012 2011 2012 2011Rate Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000Loan - Road Development Authority 9.0% 14.5 Years 384,250 - 384,250 -Long - Term Agriculture Loan 10.5% 5 Years 3,270 4,300 3,270 4,300Long - Term Government Bonds 1 7.5% 7 Years 8,024 193,600 8,024 193,600Long - Term Government Bonds 2 7.0% 12 Years 539,650 353,400 539,650 353,400Short - Term Government Securities - - 1,746,470 559,893 1,746,470 559,893Total Investment 2,681,664 1,111,193 2,681,664 1,111,193BankGroup38. Contingent Liabilities and CommitmentsBankGroupFor the year ended 31st December 2012 2011 2012 2011Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000Guarantees 293,060 266,298 293,060 266,298Other contingent items 163,200 178,000 163,200 178,000Undrawn loan commitments 6,389,150 1,285,720 6,389,150 1,285,720Total 6,845,410 1,730,018 6,845,410 1,730,018NATIONAL 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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173BRANCHING OUT INTO NEW VENTURESG
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183CHAPTER 6THE RESULTS OF A CHALLE
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185THE RESULTS OF A CHALLENGING YEA
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187THE RESULTS OF A CHALLENGING YEA
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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
Page 259 and 260: 257OUR PRODUCTS AND SERVICESSAVINGS
Page 261 and 262: 259OUR PRODUCTS AND SERVICES19. Ran
Page 263 and 264: 261OUR PRODUCTS AND SERVICESOUR EXT
Page 265 and 266: 263BRANCH NETWORKCentral Province1.
Page 267 and 268: 265CORRESPONDENT BANKSCiti Bank NA,
Page 269 and 270: 267EXCHANGE COMPANIESHabib Qatar In
Page 271 and 272: 269GLOSSARYCredit RatingsAn evaluat
Page 273 and 274: 271GLOSSARYReturn on Average Assets
Page 275: 273CORPORATE INFORMATIONCOMPLIANCE
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Annual Report 2012 - National Savings Bank

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