NATION LANKA FINANCE PLC Nation Lanka Finance PLC | |||||
Statement of Financial Position | |||||
Company | Group | ||||
As at 30th As at 31st March | As at 30th | As at 31st March | |||
September 2022 | 2022 | September 2022 | 2022 | ||
Audited | Audited | ||||
Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | ||
ASSETS | |||||
Cash and Cash Equivalents | 414,959 | 113,471 | 414,959 | 113,471 | |
Deposits With Licensed Commercial Banks | 486,931 | 326,055 | 486,931 | 326,055 | |
Financial Assets Recognized Through Profit or | |||||
Loss-Measured at fair value | 69,085 | 61,491 | 69,085 | 61,491 | |
Financial Assets Measured at Fair Value Through Other | |||||
Comprehensive Income | 39,832 | 39,832 | 39,832 | 39,832 | |
Financial Assets Measured at Amortized Cost | |||||
- Loans and Advances | 3,596,981 | 3,540,032 | 3,596,981 | 3,540,032 | |
- Debt and Other Instruments | 631,076 | 603,818 | 631,076 | 603,818 | |
Amounts Due From Related Parties | 3,450 | 3,150 | 3,450 | 3,150 | |
Real Estate Stock | 113,713 | 118,908 | 113,713 | 118,908 | |
Investment Property | 1,176,236 | 1,176,236 | 1,176,236 | 1,176,236 | |
Property, Plant & Equipment | 29,311 | 19,646 | 29,311 | 19,646 | |
Right-to-use Asset | 115,980 | 99,361 | 115,980 | 99,361 | |
Intangible Assets | 968 | 1,141 | 968 | 1,141 | |
Trade & Other Receivables | 621,006 | 186,898 | 621,006 | 186,898 | |
Retirement Benefit Plan Assets | 92,391 | 92,391 | 92,391 | 92,391 | |
Deferred Tax Asset | 652,848 | 652,848 | 652,848 | 652,848 | |
TOTAL ASSETS | 8,044,768 | 7,035,278 | 8,044,768 | 7,035,278 | |
LIABILITIES | |||||
Due to Banks and Financial Institutions | 895,606 | 59,450 | 895,606 | 59,450 | |
Financial Liabilities at amortized cost-due to depositors | 6,406,227 | 5,355,163 | 6,406,227 | 5,355,163 | |
- | |||||
Lease liability | 94,411 | 77,792 | 94,411 | 77,792 | |
Amounts Due To Related Parties | 613 | 613 | - | - | |
Other Borrowings | 69,705 | 493,134 | 69,705 | 493,134 | |
Retirement Benefit Obligations | 36,084 | 31,702 | 36,084 | 31,702 | |
Trade & Other Payables | 233,507 | 289,106 | 233,548 | 289,147 | |
TOTAL LIABILITIES | 7,736,152 | 6,306,961 | 7,735,580 | 6,306,389 | |
CAPITAL AND RESERVES | |||||
Stated Capital | 1,224,042 | 1,224,042 | 1,224,042 | 1,224,042 | |
Reserve Fund | 131,422 | 131,422 | 131,422 | 131,422 | |
Fair value reserve | (91,340) | (91,340) | (91,340) | (91,340) | |
Other Reserves | 9,000 | 9,000 | 9,000 | 9,000 | |
Retained Earnings | (964,508) | (544,807) | (963,936) | (544,235) | |
TOTAL EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE | |||||
COMPANY | 308,616 | 728,317 | 309,188 | 728,889 | |
Non-Controlling Interest | - | - | - | - | |
TOTAL EQUITY | 308,616 | 728,317 | 309,188 | 728,889 | |
TOTAL LIABILITIES & EQUITY | 8,044,768 | 7,035,278 | 8,044,768 | 7,035,278 | |
Net Assets Per Share | 0.23 | 0.54 | 0.23 | 0.54 | |
Contingent liabilities and commitments | 16,700 | 16,700 | 16,700 | 16,700 |
CERTIFICATION
We, the undersigned being Chief Financial Officer and Director of Nation Lanka Finance PLC certify jointly that:
- the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of SriLanka and Companies Act no 07 of 2007.
- the information contained in these statements have been extracted from the unaudited financial statements of the Nation Lanka Finance PLC unless indicated as audited.
Signed by : | Signed by : | Signed by : |
G R N Dilip Kumara | S A Wickramasinghe | A G M Priyantha |
Chief Financial Officer | Director | Director |
14 th November 2022 | 14 th November 2022 | 14 th November 2022 |
Nation Lanka Finance PLC
Statement of Profit or Loss and Other Comprehensive Income
Company | Group | ||||||||
Quarter ended | Six monthes | Six monthes ended | Quarter ended | Quarter ended | Six monthes | Six monthes | |||
Quarter ended 30th | 30th September | ended 30th | 30th September | 30th September | 30th September | ended 30th | ended 30th | ||
September 2022 | 2021 | September 2022 | 2021 | 2022 | 2021 | September 2022 | September 2021 | ||
Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | ||
Interest income | 201,938 | 183,361 | 423,316 | 374,233 | 201,938 | 183,361 | 423,316 | 374,233 | |
Interest expense | (278,699) | (143,748) | (478,573) | (281,015) | (278,699) | (143,748) | (478,573) | (281,015) | |
Net interest income | (76,761) | 39,613 | (55,257) | 93,218 | (76,761) | 39,613 | (55,257) | 93,218 | |
Net income / (loss) on property development | - | 3,345 | - | 5,315 | - | 3,345 | - | 5,315 | |
Fee and commission income | 13,223 | 1,986 | 30,780 | 2,546 | 13,223 | 1,986 | 30,780 | 2,546 | |
Net fair value gains/(losses) from financial instruments | |||||||||
at fair value through profit or loss | 20,383 | 6,179 | 7,594 | 5,384 | 20,383 | 6,179 | 7,594 | 5,384 | |
Change in fair value of investment property | - | 500 | - | (1,850) | - | 500 | - | (1,850) | |
Other operating income | 30,864 | 6,614 | 42,987 | 11,316 | 30,864 | 6,614 | 42,987 | 11,316 | |
Collection from contracts previously written off | 4,328 | 45,872 | 8,034 | 85,133 | 4,328 | 45,872 | 8,034 | 85,133 | |
Total operating income | (7,962) | 104,109 | 34,139 | 201,062 | (7,962) | 104,109 | 34,139 | 201,062 | |
Impairment for loans and other losses | 33,928 | (4,246) | (28,532) | (22,359) | 33,928 | (4,246) | (28,532) | (22,359) | |
Net operating income | 25,966 | 99,863 | 5,607 | 178,703 | 25,966 | 99,863 | 5,607 | 178,703 | |
Operating Expenses | |||||||||
Personnel Costs | (89,070) | (78,822) | (174,415) | (158,932) | (89,070) | (78,822) | (174,415) | (158,932) | |
Premises Equipment & Establishment Expenses | (30,616) | (30,845) | (62,571) | (66,061) | (30,616) | (30,845) | (62,571) | (66,061) | |
Other Overhead Expenses | (97,047) | (75,559) | (184,204) | (151,108) | (97,047) | (75,559) | (184,204) | (151,108) | |
Other Finance Cost | (549) | (525) | (1,167) | (872) | (549) | (525) | (1,167) | (872) | |
Total Operating Expenses | (217,282) | (185,751) | (422,357) | (376,973) | (217,282) | (185,751) | (422,357) | (376,973) | |
Operating profit / ( loss) before VAT | (191,316) | (85,888) | (416,750) | (198,270) | (191,316) | (85,888) | (416,750) | (198,270) | |
Vat on financial services | - | - | - | - | - | - | - | - | |
Operating profit / (loss) after VAT | (191,316) | (85,888) | (416,750) | (198,270) | (191,316) | (85,888) | (416,750) | (198,270) | |
Tax expenses | (2,951) | - | (2,951) | - | (2,951) | - | (2,951) | - | |
Profit / (loss) for the period | (194,267) | (85,888) | (419,701) | (198,270) | (194,267) | (85,888) | (419,701) | (198,270) | |
Other comprehensive income | - | - | - | - | - | - | - | - | |
Total comprehensive income | (194,267) | (85,888) | (419,701) | (198,270) | (194,267) | (85,888) | (419,701) | (198,270) | |
Profit / (Loss) attributable to | |||||||||
Equity holders of the company | (194,267) | (85,888) | (419,701) | (198,270) | |||||
Non controlling interest | - | - | - | - | |||||
(194,267) | (85,888) | (419,701) | (198,270) | ||||||
Total comprehensive income attributable to | |||||||||
Equity holders of the company | (194,267) | (85,888) | (419,701) | (198,270) | |||||
Non controlling interest | - | - | - | - | |||||
(194,267) | (85,888) | (419,701) | (198,270) | ||||||
Basic earnings per ordinary share | (0.14) | (0.06) | (0.31) | (0.15) | (0.14) | (0.06) | (0.31) | (0.15) |
Nation Lanka Finance PLC
Statement of Changes in Equity as at 30th September 2022
Stated | Fair Value | Reserve | General | Retained | Minority | Total | |
Capital | Reserve | Fund | Reserve | Profit | Interest | Equity | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Company | |||||||
Balance as at 01.04.2021 | 1,224,042 | (95,662) | 131,422 | 9,000 | (310,623) | - | 958,179 |
Profit / (loss) for the year | - | - | - | - | (198,270) | - | (198,270) |
Other comprehensive income for the year | - | - | - | - | - | - | - |
Balance as at 30.09.2021 | 1,224,042 | (95,662) | 131,422 | 9,000 | (508,893) | - | 759,909 |
Balance as at 01.04.2022 | 1,224,042 | (91,340) | 131,422 | 9,000 | (544,807) | - | 728,317 |
Profit / (loss) for the year | - | - | - | - | (419,701) | - | (419,701) |
Other comprehensive income for the year | - | - | - | - | - | - | - |
Balance as at 30.09.2022 | 1,224,042 | (91,340) | 131,422 | 9,000 | (964,508) | - | 308,615 |
Group | |||||||
Balance as at 01.04.2021 | 1,224,042 | (95,662) | 131,422 | 9,000 | (309,992) | - | 958,811 |
Profit / (loss) for the year | - | - | - | - | (198,270) | - | (198,270) |
Other comprehensive income for the year | - | - | - | - | - | - | - |
Balance as at 30.09.2021 | 1,224,042 | (95,662) | 131,422 | 9,000 | (508,262) | - | 760,541 |
Balance as at 01.04.2022 | 1,224,042 | (91,340) | 131,422 | 9,000 | (544,235) | - | 728,889 |
Profit / (loss) for the year | - | - | - | - | (419,701) | - | (419,701) |
Other comprehensive income for the year | - | - | - | - | - | - | - |
Balance as at 30.09.2022 | 1,224,042 | (91,340) | 131,422 | 9,000 | (963,936) | - | 309,188 |
Nation Lanka Finance PLC
Statement of Cash Flows
For Six monthes ended 30th September
Cash Flow from Operating Activities
Profit/(Loss) before Income Tax Expense
Adjustments for
Net fair value gains/(losses) from financial instruments Measured at FVTPL Dividend Income
Depreciation and amortization
Amortization of ROU assets
Interest expense on lease liability
Net income / (loss) on property development
Interest Expenses
Interest income on Government Securities
Impairment of Loans and Receivables
Change in Fair Value of Investment Property
Provision / (Reversal) for Retiring Benefit Obligations
Profit on disposal of Property , Plant & Equipment
Operating Profit Before Working Capital Changes
Working Capital Changes
Decrease/(Increase) in Financial Assets at Amortized cost
Decrease/(Increase) in Investment in Real Estate
Decrease/(Increase) in Related Party Receivables
Decrease/(Increase) in Trade and Other Receivables
Increase/(Decrease) in Related Party Payables
Increase/(Decrease) Trade & Other Payables
Increase/(Decrease) Financial Liabilities at amortized cost -due to depositors
Cash from Operations
Income Tax Paid
Interest expenses paid
Retiring Gratuity Paid
Net Cash generated from Operating Activities
Cash Flow from Investing Activities
Proceeds from Sale of Property, Plant & Equipment
Acquisition of Property, Plant & Equipment
Acquisition of Intangible Assets
Proceeds from Disposal of Investment Property
Net proceed from government securities
Dividend Income received from other investments
Investment in Deposits with Licensed Commercial Banks
Net Cash used in Investing Activities
Cash Flow from Financing Activities
Repayment of Loans
Proceeds from Borrowings
Lease rental payments
Net Cash generated from Financing Activities
Increase/(Decrease) in Cash & Cash Equivalents
Cash & Cash Equivalents at the Beginning of the Year
Cash & Cash Equivalents at the End of the year
Reconciliation of Cash & Cash Equivalents
Cash in Hand & at Bank
Short Term Investments
Bank Overdraft
Company | Group | ||
Rs. '000' | Rs. '000' | ||
2022 | 2021 | 2022 | 2021 |
(416,750) | (198,270) | (416,750) | (198,270) |
(7,594) | (5,384) | (7,594) | (5,384) |
(2,348) | - | (2,348) | - |
7,029 | 10,045 | 7,029 | 10,045 |
16,619 | 16,495 | 16,619 | 16,495 |
8,548 | 8,785 | 8,548 | 8,785 |
- | (5,315) | (5,315) | |
478,573 | 281,015 | 478,573 | 281,015 |
(55,448) | (10,253) | (55,448) | (10,253) |
28,532 | 22,359 | 28,532 | 22,359 |
- | 1,850 | - | 1,850 |
4,899 | 4,899 | 4,899 | 4,899 |
(35) | - | (35) | - |
62,024 | 126,226 | 62,024 | 126,226 |
(85,481) | 466,624 | (85,481) | 466,624 |
5,195 | 19,265 | 5,195 | 19,265 |
(300) | (196) | (300) | (196) |
(434,781) | (99,190) | (434,781) | (99,190) |
- | - | - | |
(55,600) | (68,172) | (55,600) | (68,172) |
1,051,063 | (5,115) | 1,051,063 | (5,115) |
542,121 | 439,442 | 542,121 | 439,442 |
(2,951) | - | (2,951) | - |
(478,573) | (281,015) | (478,573) | (281,015) |
(518) | (4,081) | (518) | (4,081) |
60,079 | 154,346 | 60,079 | 154,346 |
35 | - | 35 | - |
(15,428) | (727) | (15,428) | (727) |
(420) | (270) | (420) | (270) |
- | 5,000 | - | 5,000 |
28,191 | (166,326) | 28,191 | (166,326) |
2,348 | - | 2,348 | - |
(160,877) | - | (160,877) | - |
(146,151) | (162,323) | (146,151) | (162,323) |
(423,430) | (157,000) | (423,430) | (157,000) |
435,000 | - | 435,000 | |
(25,167) | (25,280) | (25,167) | (25,280) |
(448,596) | 252,720 | (448,596) | 252,720 |
(534,668) | 244,743 | (534,668) | 244,743 |
54,021 | 138,071 | 54,021 | 138,071 |
(480,647) | 382,814 | (480,647) | 382,814 |
414,959 | 171,027 | 414,959 | 171,027 |
- | 319,392 | - | 319,392 |
(895,606) | (107,605) | (895,606) | (107,605) |
(480,647) | 382,814 | (480,647) | 382,814 |
10
Nation Lanka Finance PLC | ||
Selected Performance Indicators (as per regulatory reporting) | ||
As at 30th September 2022 | As at 31st March 2022 | |
'000' | '000' | |
Regulatory Capital Adequacy | ||
Core capital ( Tier 1 capital) | (6,613) | 502,610 |
Total capital base | 308,616 | 913,182 |
Minimum 8.5% | Minimum 7% | |
Core capital adequacy ratio , as % of risk weighted assets | -9.58% | -0.75% |
Minimum 12.5% | Minimum 11% | |
Total capital adequacy ratio , as % of risk weighted assets | -9.58% | 0.58% |
Asset Quality ( Quality of loan portfolio) | ||
Gross Non -Performing Accommodations | 2,355,380 | 2,165,828 |
Gross Non -Performing Accommodations % | 40.52% | 38.78% |
Regulatory Liquidity | ||
Required minimum amount of liquid assets | 652,742 | 547,520 |
Available amount of liquid assets | 661,122 | 700,432 |
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Nation Lanka Finance plc published this content on 16 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 04:17:07 UTC.
