Financial Reports

Statement of Profit or Loss and Other Comprehensive Income

	BANK		GROUP
For the year ended 31 December	2020 LKR ’000	2019 LKR ’000	2020 LKR ’000	2019 LKR ’000
Profit for the year	2,388,035	2,073,868	2,846,785	2,300,294
Other comprehensive income/(expenses) for the year, net of tax
Items that are or may be reclassified subsequently to income statement
Movement in fair value reserve [fair value through other comprehensive income (FVTOCI) debt instruments]:
Net change in fair value	2,563,943	2,259,672	2,563,943	2,259,672
Reclassified to income statement	52,918	(134,095)	52,918	(134,095)
Share of other comprehensive income/(expenses) of equity accounted joint venture and associate	–	–	26,284	(2,222)
Movement in hedging reserve:
Cash flow hedges – effective portion of changes in fair value	(13,622)	(410,906)	(13,622)	(410,906)
Cash flow hedges – reclassified to income statement	15,420	14,299	15,420	14,299
Related deferred tax	(777,899)	(480,708)	(777,899)	(480,708)
Total other comprehensive income that are or may be reclassified subsequently to income statement	1,840,760	1,248,262	1,867,044	1,246,040
Items that will not be reclassified to income statement
Losses on remeasurements of defined benefit liability/(asset)	(37,766)	(32,672)	(36,738)	(32,017)
Equity investments at fair value through other comprehensive income – Net change in fair value	(1,533,286)	(1,563,978)	(1,533,286)	(1,563,978)
Share of other comprehensive income of equity accounted joint venture and associate	–	–	483	971
Related deferred tax	(26,297)	23,716	(26,322)	23,674
Total other comprehensive expenses on items that will not be reclassified to income statement	(1,597,349)	(1,572,934)	(1,595,863)	(1,571,350)
Other comprehensive income/(expenses) for the year, net of tax	243,411	(324,672)	271,181	(325,310)
Total comprehensive income for the year	2,631,446	1,749,196	3,117,966	1,974,984
Total comprehensive income attributable to:
Equity holders of the Bank	2,631,446	1,749,196	3,016,442	1,888,343
Non-controlling interests	–	–	101,524	86,641
Total comprehensive income for the year	2,631,446	1,749,196	3,117,966	1,974,984

The notes to the financial statements form part of these financial statements.