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FINANCIAL STATEMENTS

Statement of Changes in Equity – Bank

Other reserves
Note Stated
capital



Rs. ’000
Statutory
reserve
fund


Rs. ’000
Retained
earnings



Rs. ’000
Revaluation
reserve



Rs. ’000
Fair value
reserve



Rs. ’000
Foreign
currency
translation
reserve

Rs. ’000
Hedging
reserve



Rs. ’000
Employee
share option
reserve

Rs. ’000
General
reserve



Rs. ’000
Shareholders’
funds



Rs. ’000
Non-
controlling
interest


Rs. ’000
Total
equity



Rs. ’000
Balance as at December 31, 2021 54,566,957 10,204,368 9,028,265 10,195,652 (11,980,175) 4,064,722 (56,342) 150,529 88,720,003 164,893,979 – 164,893,979
Adjustment for surcharge tax levied under the Surcharge Tax Act No. 14 of 2022 54 – – (5,036,184) – – – – – – (5,036,184) – (5,036,184)
Adjusted balance as at January 01, 2022 54,566,957 10,204,368 3,992,081 10,195,652 (11,980,175) 4,064,722 (56,342) 150,529 88,720,003 159,857,795 – 159,857,795
Total comprehensive income for the year 2022
Profit for the year – – 22,969,791 – – – – – – 22,969,791 – 22,969,791
Other comprehensive income, net of tax – – (14,793) (799,110) 12,058,918 14,876,983 92,896 – – 26,214,894 – 26,214,894
Net actuarial gains/(losses) on defined benefit plans
– – (22,166) – – – – – – (22,166) – (22,166)
Gain on disposal of investments in equity instruments
– – 7,373 – – – – – – 7,373 – 7,373
Net change in revaluation surplus
55.1 – – – (799,110) – – – – – (799,110) – (799,110)
Net fair value gains/(losses) on remeasuring financial assets measured
at fair value through other comprehensive income
55.3 – – – – 12,058,918 – – – – 12,058,918 – 12,058,918
Net gains/(losses) arising from translating the Financial Statements of
the foreign operations
55.4 – – – – – 14,876,983 – – – 14,876,983 – 14,876,983
Cash flow hedges – effective portion of changes in fair value, net of tax
55.6 – – – – – – 92,896 – – 92,896 – 92,896
Total comprehensive income for the year 2022 – – 22,954,998 (799,110) 12,058,918 14,876,983 92,896 – – 49,184,685 – 49,184,685
Transactions with owners recognised directly in equity, contributions by and distributions to owners
Issue of ordinary voting shares under employee share option plans 51 – – – – – – – – – – – –
Transfer o/a share-based payment transactions 51 – – – – – – – – – – – –
Transfer of cost o/a of expired ESOP shares (net of tax) 54 & 55.5 – – – – – – – – – – – –
Dividends to equity holders 3,582,664 – (8,926,468) – – – – – – (5,343,804) – (5,343,804)
First & final dividend for 2021 satisfied in the form of cash
25 – – (5,373,996) – – – – – – (5,373,996) – (5,373,996)
First & final dividend for 2021 satisfied in the form of issue and
allotment of new shares
25 3,582,664 – (3,582,664) – – – – – – – – –
Unclaimed dividend absorbed/(dividend paid) in respect of previous years
– – 30,192 – – – – – – 30,192 – 30,192
Share-based payment transactions 55.5 – – – – – – – – – – – –
Transfers during the year 53 to 55 – 1,148,490 (12,428,490) – – – – – 11,280,000 – – –
Total transactions with equity holders 3,582,664 1,148,490 (21,354,958) – – – – – 11,280,000 (5,343,804) – (5,343,804)
Balance as at December 31, 2022 58,149,621 11,352,858 5,592,121 9,396,542 78,743 18,941,705 36,554 150,529 100,000,003 203,698,676 – 203,698,676
Total comprehensive income for the year 2023
Profit for the year – – 20,460,962 – – – – – – 20,460,962 – 20,460,962
Other comprehensive income, net of tax – – (230,394) 1,003,035 1,885,252 (11,086,172) (36,554) – – (8,464,833) – (8,464,833)
Net actuarial gains/(losses) on defined benefit plans
– – (239,530) – – – – – – (239,530) – (239,530)
Gain on disposal of investments in equity instruments
– – – – – – – – – – – –
Net change in revaluation surplus
55.1 – – – 1,012,171 – – – – – 1,012,171 – 1,012,171
Revaluation surplus transferred to retained earnings upon the disposal of freehold land
55.1 – – 9,136 (9,136) – – – – – – – –
Net fair value gains/(losses) on remeasuring financial assets measured
at fair value through other comprehensive income
55.3 – – – – 1,885,252 – – – – 1,885,252 – 1,885,252
Net gains/(losses) arising from translating the Financial Statements of
the foreign operations
55.4 – – – – – (11,086,172) – – – (11,086,172) – (11,086,172)
Cash flow hedges – effective portion of changes in fair value, net of tax
55.6 – – – – – – (36,554) – – (36,554) – (36,554)
Total comprehensive income for the year 2023 – – 20,230,568 1,003,035 1,885,252 (11,086,172) (36,554) – – 11,996,129 – 11,996,129
Transactions with owners recognised directly in equity,
contributions by and distributions to owners
Issue of ordinary voting shares under employee share option plans 51 51,740 – – – – – – – – 51,740 – 51,740
Transfer o/a share-based payment transactions 51 4,491 – – – – – – (4,491) – – – –
Transfer of cost o/a of expired ESOP shares (net of tax) 54 & 55.5 – – 47,510 – – – – (67,871) – (20,361) – (20,361)
Dividends to equity holders 4,742,151 – (5,558,766) – – – – – – (816,615) – (816,615)
First & final dividend for 2022 satisfied in the form of cash
25 – – – – – – – – – – – –
First & final dividend for 2022 satisfied in the form of issue and allotment of new shares
25 4,742,151 – (5,579,001) – – – – – – (836,850) – (836,850)
Unclaimed dividend absorbed/(dividend paid) in respect of previous years
– – 20,235 – – – – – – 20,235 – 20,235
Share-based payment transactions 55.5 – – – – – – – 21,433 – 21,433 – 21,433
Transfers during the year 53 to 55 – 1,023,048 (11,753,048) – – – – – 10,730,000 – – –
Total transactions with equity holders 4,798,382 1,023,048 (17,264,304) – – – – (50,929) 10,730,000 (763,803) – (763,803)
Balance as at December 31, 2023 62,948,003 12,375,906 8,558,385 10,399,577 1,963,995 7,855,533 – 99,600 110,730,003 214,931,002 – 214,931,002

The Notes to the Financial Statements 1 to 68 form an integral part of these Financial Statements.