| BANK | GROUP | |||
| 9 months ended 31 December 2015 LKR 000 |
Year ended
31 March 2015 LKR 000 |
9 months ended 31 December 2015 LKR 000 |
Year ended
31 March 2015 LKR 000 |
|
| Cash flow from operating activities | ||||
| Interest receipts | 7,238,360 | 6,873,761 | 12,887,530 | 13,921,453 |
| Interest payments | (5,375,259) | (4,292,672) | (8,432,834) | (9,144,115) |
| Recoveries on loans previously written-off | 23,267 | 42,471 | 31,463 | 46,244 |
| Receipts from other operating activities | 2,237,257 | 72,612 | 3,556,605 | 2,105,965 |
| Cash payments to employees and suppliers | (1,790,725) | (1,405,580) | (3,669,959) | (3,562,254) |
| Value added tax and nation building tax on financial services | (327,844) | (600,176) | (589,020) | (871,983) |
| Other levies | (29,199) | (34,187) | (37,844) | (37,699) |
| Operating cash flow before changes in operating assets and liabilities | 1,975,857 | 656,229 | 3,745,941 | 2,457,611 |
| (Increase)/decrease in operating assets | ||||
| Deposits held for regulatory or monetary control purposes | (2,308,744) | – | (2,937,403) | 254,086 |
| Funds advanced to customers | (12,925,166) | (10,941,817) | (27,448,299) | (23,632,764) |
| Others | 576,482 | (229,292) | 660,963 | (321,067) |
| Increase/(decrease) in operating liabilities | ||||
| Deposits from customers | 13,298,437 | 5,549,600 | 17,122,636 | 11,727,396 |
| Negotiable certificates of deposit | 18,055 | – | 143,675 | (37,703) |
| Others | 135,829 | 96,982 | 137,817 | 223,154 |
| Net cash flow from/(used in) operating activities before income tax |
770,750 | (4,868,298) | (8,574,670) | (9,329,287) |
| Income tax paid | (951,490) | (576,581) | (1,248,318) | (810,755) |
| Net cash flow used in operating activities | (180,740) | (5,444,879) | (9,822,988) | (10,140,042) |
| Cash flow from investing activities | ||||
| Dividend received | 563,704 | 1,565,746 | 284,255 | 1,383,206 |
| Interest received | 1,104,679 | 663,278 | 1,398,108 | 1,239,098 |
| Government Securities – net | (4,818,751) | 1,019,756 | (9,002,938) | (2,707,313) |
| Proceeds from sale and redemption of securities | 558,085 | 3,138,109 | 558,085 | 3,138,109 |
| Purchase of securities | (2,496,929) | (2,451,221) | (2,214,741) | (10,920,313) |
| Purchase of property, equipment, intangibles and investment property | (118,534) | (60,774) | (313,883) | (389,311) |
| Proceeds from sale of equipment and investment property | 2,810 | 1,940 | (1,445) | 1,962 |
| Net cash (used in)/from investing activities | (5,204,936) | 3,876,834 | (9,292,559) | (8,254,562) |
| BANK | GROUP | |||
| 9 months ended 31 December 2015 LKR 000 |
Year ended 31 March 2015 LKR 000 |
9 months ended 31 December 2015 LKR 000 |
Year ended
31 March 2015 LKR 000 |
|
| Cash flow from financing activities | ||||
| Payment to minority shareholders on amalgamation | (122,408) | – | (122,408) | – |
| Issue of debentures | – | 4,963,600 | – | 4,963,600 |
| Borrowing, medium and long term | 3,318,581 | 2,662,392 | 3,315,727 | 2,662,392 |
| Other borrowing – net | 7,094,903 | (3,552,000) | 20,167,940 | 11,364,228 |
| Repayment of borrowing, medium and long term | (3,505,648) | (3,798,259) | (3,505,649) | (3,801,057) |
| Dividends paid | (1,572,012) | (1,451,188) | (1,628,735) | (1,506,965) |
| Net cash flow from/(used in) financing activities | 5,213,416 | (1,175,455) | 18,226,875 | 13,682,198 |
| Net decrease in cash and cash equivalents | (172,260) | (2,743,500) | (888,672) | (4,712,406) |
| Cash and cash equivalents at the beginning of period | 498,619 | 3,242,119 | 5,205,167 | 9,917,573 |
| Cash and cash equivalents of DFCC Vardhana Bank PLC as at the date of amalgamation | 3,978,888 | – | – | – |
| Cash and cash equivalents at the end of period | 4,305,247 | 498,619 | 4,316,495 | 5,205,167 |
| Reconciliation of cash and cash equivalents with items reported in the statement of financial position | ||||
| Cash and cash equivalents (Note 26) | 4,305,247 | 110,576 | 4,314,777 | 4,060,820 |
| Bank overdrafts (Note 46) | – | (328,579) | – | (330,545) |
| Placements with banks (Note 28) | – | 716,622 | 1,718 | 1,324,892 |
| Government Securities – less than 3 months | – | – | – | 150,000 |
| 4,305,247 | 498,619 | 4,316,495 | 5,205,167 | |
Reconciliation of profit for the period to net cash flows used in operating activities.
| BANK | GROUP | |||
| 9 months ended
31 December 2015 LKR 000 |
Year ended 31 March 2015 LKR 000 |
9 months ended 31 December 2015 LKR 000 |
Year ended
31 March 2015 LKR 000 |
|
| Profit for the period | 1,068,350 | 3,240,348 | 1,641,628 | 4,438,612 |
| Add/(deduct) items not using (providing) cash: | 326,785 | (143,036) | 798,376 | 133,871 |
| Depreciation – Property, equipment and investment property | 114,781 | 116,673 | 247,234 | 279,899 |
| Amortisation – Intangible assets | 42,538 | 23,682 | 102,158 | 100,232 |
| Unrealised gain on Treasury Bills and Bonds | (95,558) | (146,679) | (96,659) | (335,559) |
| Net loss/gain from financial instruments at fair value – Contracts with commercial banks | 14,368 | (81,577) | (60,545) | (96,819) |
| – CBSL Swap | (14,038) | (574,935) | (14,038) | (574,935) |
| Amortisation of deferred income on Government grant | 130,288 | 376,185 | 130,288 | 376,185 |
| Foreign exchange loss | (17,139) | 500,677 | (77,984) | 465,807 |
| Impairment for loans and other losses | 224,939 | (307,564) | 795,327 | 246,556 |
| Notional tax credit on Treasury Bills and Bonds | (73,394) | (49,498) | (148,712) | (174,225) |
| Share of profits of associate and joint venture | – | – | (78,693) | (153,270) |
| Deduct items reported gross under investing activities: | (575,948) | (2,128,729) | (258,637) | (1,913,934) |
| Dividend income | (536,276) | (991,958) | (218,569) | (777,803) |
| Gains on sale of financial investment | (37,018) | (1,135,054) | (37,018) | (1,135,054) |
| Gain on sale of equipment and investment property | (2,654) | (1,717) | (3,050) | (1,077) |
| Deduct changes in operating assets and liabilities: | (995,429) | (6,413,462) | (12,004,255) | (12,798,591) |
| Decrease/(increase) in account receivables | 99,234 | (1,300,683) | (491,604) | (1,749,264) |
| Increase in account payables | 540,522 | 457,387 | 1,143,801 | 570,968 |
| Increase in income tax payable | (36,940) | 7,981 | (94,908) | 255,237 |
| Decrease in deferred tax | (393,634) | (53,620) | (241,568) | (88,634) |
| Increase in operating assets | (14,657,430) | (11,171,109) | (29,724,203) | (23,699,745) |
| Increase in operating liabilities | 13,452,321 | 5,646,582 | 17,404,127 | 11,912,847 |
| Net cash used in operating activities | (180,740) | (5,444,879) | (9,822,988) | (10,140,042) |