Annual Report 2012 - National Savings Bank

29HOW WE PERFORMED IN 2012FINANCIAL REVIEWRs.Mn7,0006,0005,0004,0003,0002,0001,000-Net Profit5,39120106,0624,3312011 2012“The marketcompetition was intensefor mobilisation andput pressure on ourinterest margins. Butwe continued to buildup skill competencies ofour staff and enrich thecustomer care.”Rs.MnDividend Paidto the Treasury3,5003,2133,0002,6642,5002,0001,5001,00050002010 20112,8232012prots during a precarious year in whichour internal strengths were tested. Themarket competition was intense formobilisation and put pressure on ourinterest margins. But we continued tobuild up skill competencies of our staffand enrich customer care. Therefore,the Bank’s prot of Rs.4,331 Millionwhich although was 29% less than thepost tax prot of 2011, was encouragingin light of the many challenges we facedduring the year.The Return on Assets (ROA) andReturn on Shareholders Equity (ROE)also dropped to 1.3% and 18.3%respectively.Contribution to State FundsThe Bank contributed Rs.5,900 Millionto the Government by way of taxes andtransfers, of which the details are asfollows:Rs.MnRs.Mn2012 2011Value Added Tax 1,239 1,564Income Tax 1,838 3,193Dividend paid 2,823 3,213Total contribution 5,900 7,970In addition the treasury portfolio andnancial facilities extended to theGovernment increased by Rs.16,533Million.Investment Fund Account (IFA)The amount lying to the Credit ofInvestment Fund Account which wascreated as per the CBSL Directive wasRs.2.8 Billion (2011 - Rs.1.6 Billion).A sum of Rs.384 Million was given tothe RDA infrastructure developmentprojects, a sum of Rs.3.3 Million wasgiven as agricultural loans and theNATIONAL SAVINGS BANK . ANNUAL REPORT 2012