INTERIM FINANCIAL STATEMENTS QUARTER ENDED DECEMBER 31, 2021
SMB LEASING PLC
No: 282/1,CBS Building, Galle Road, Colombo 03
SMB Leasing PLC
Statement of Profit or Loss and Other Comprehensive Income
For the period ended December 31, 2021 (LKR 000)
CompanyQuarter QuarterYTD YTD
ended ended
December | December | Variance | December | December | Variance | |
31, 2021 | 31, 2020 | 31, 2021 | 31, 2020 | |||
Unaudited | Unaudited | Unaudited | Restated | |||
Interest income | 49,479 | 36,045 | 37% | 170,424 | 154,250 | 10% |
Interest expenses | (8,906) | (17,363) | -49% | (51,819) | (59,755) | -13% |
Net interest income | 40,573 | 18,682 | 117% | 118,605 | 94,495 | 26% |
Fee and commission income | 4,134 | 561 | 637% | 13,985 | 4,637 | 202% |
Net interest, fee and commission income | 44,707 | 19,243 | 132% | 132,590 | 99,131 | 34% |
Other operating income (net) | 85,969 | 9,956 | 763% | 117,530 | 21,276 | 452% |
Total operating income | 130,676 | 29,199 | 348% | 250,120 | 120,407 | 108% |
Impairment charge for the period | (81,331) | (58,360) | 39% | (28,119) | (78,717) | 64% |
Net operating income | 49,345 | (29,161) | 269% | 222,001 | 41,690 | 433% |
Personnel expenses | (18,698) | (3,407) | 449% | (69,724) | (52,960) | 32% |
Premises, equipment & establishment expenses | (1,872) | 7,790 | 124% | (18,573) | (19,804) | -6% |
Depreciation and amortization | (4,848) | (13,486) | -64% | (19,200) | (18,536) | 4% |
Other expenses | (5,455) | (7,573) | -28% | (18,071) | (19,610) | -8% |
Operating profit / (loss) before taxes on | ||||||
financial services | 18,472 | (45,837) | 140% | 96,432 | (69,220) | 239% |
Taxes on financial services | (5,351) | - | 100% | (10,754) | (3,099) | 247% |
Profit /(Loss) after taxes on financial services | 13,121 | (45,837) | 129% | 85,678 | (72,319) | 218% |
Share of loss of associate company | 417 | 2,307 | -82% | 233 | 2,307 | -90% |
Profit /(Loss) before income tax | 13,538 | (43,530) | 131% | 85,911 | (70,012) | 223% |
Income tax expenses | - | - | 0% | (2,409) | - | 100% |
Profit /(Loss) for the period | 13,538 | (43,530) | 131% | 83,501 | (70,012) | 219% |
Basic earnings/(loss) per share | 0.00 | (0.01) | 115% | 0.01 | (0.04) | 122% |
Company | Quarter | Quarter | YTD | YTD | ||
ended | ended | |||||
December | December | Variance | December | December | Variance | |
31, 2021 | 31, 2020 | 31, 2021 | 31, 2020 | |||
Unaudited | Unaudited | Unaudited | Restated | |||
Profit / (Loss) for the period | 13,538 | (43,530) | 131% | 83,501 | (70,012) | 219% |
Other comprehensive income | ||||||
Actuarial loss on defined benefit plans | - | (407) | -100% | - | (407) | -100% |
Equity investments at FVOCI - Net change in fair value | - | (11,669) | -100% | - | (11,669) | -100% |
Tax on other comprehensive income | - | - | - | - | - | - |
Other comprehensive expense for the period | ||||||
(net of tax) | - | (12,076) | -100% | - | (12,076) | -100% |
Total comprehensive income / (expense) for the | ||||||
period | 13,538 | (55,606) | 124% | 83,501 | (82,088) | 202% |
. | . | |||||
Colombo | ||||||
February 25, 2022 |
SMB Leasing PLC
Statement of Profit or Loss and Other Comprehensive Income
For the period ended December 31, 2021 (LKR 000)
Group | Quarter | Quarter | YTD | YTD | ||
ended | ended | |||||
December | December | Variance | December | December 31, | Variance | |
31, 2021 | 31, 2020 | 31, 2021 | 2020 | |||
Unaudited | Unaudited | Unaudited | Restated | |||
Interest income | 49,874 | 36,045 | 38% | 172,127 | 154,250 | 12% |
Interest expenses | (8,856) | (17,778) | -50% | (52,036) | (60,370) | -14% |
Net interest income | 41,019 | 18,267 | 125% | 120,091 | 93,880 | 28% |
Fee and commission income | 4,134 | 561 | 637% | 13,985 | 4,637 | 202% |
Net interest,fee and commission income | 45,153 | 18,828 | 140% | 134,076 | 98,517 | 36% |
Other operating income (net) | 97,283 | 36,594 | 166% | 168,835 | 114,094 | 48% |
Total operating income | 142,436 | 55,422 | 157% | 302,911 | 212,611 | 42% |
Impairment (charge)/ reversal for the period | (81,331) | (58,360) | 39% | (28,119) | (78,717) | -64% |
Net operating income | 61,105 | (2,938) | -2180% | 274,792 | 133,894 | 105% |
Personnel expenses | (29,329) | (7,623) | 285% | (118,056) | (105,755) | 12% |
Premises, equipment & establishment expenses | (2,027) | 5,059 | 140% | (19,005) | (22,905) | -17% |
Depreciation and amortizations | (5,963) | (14,558) | -59% | (23,535) | (22,839) | 3% |
Other expenses | (8,050) | (19,290) | -58% | (28,233) | (39,130) | -28% |
Operating profit / (loss) before taxes on financial | ||||||
services | 15,736 | (39,350) | 140% | 85,963 | (56,735) | 252% |
Taxes on financial services | (5,351) | - | 100% | (10,754) | (3,099) | 247% |
Profit / (Loss) after taxes on financial services | 10,385 | (39,350) | 126% | 75,210 | (59,834) | 226% |
Share of loss of associate company | 417 | 2,307 | -82% | 233 | 2,307 | -90% |
Profit / (Loss) before income tax | 10,802 | (37,043) | 129% | 75,443 | (57,527) | 231% |
Income tax expenses | - | (1,291) | -100% | (2,409) | (3,591) | -33% |
Profit / (Loss) for the period | 10,802 | (38,334) | 128% | 73,034 | (61,118) | -219% |
Profit/(Loss) attributable to : | ||||||
Owners of the parent | 12,144 | (40,880) | 130% | 78,163 | (65,477) | 219% |
Non-controlling interest | (1,341) | 2,548 | -153% | (5,129) | 4,358 | -218% |
Profit / (Loss) for the period | 10,802 | (38,332) | 128% | 73,034 | (61,118) | 219% |
Basic earnings/(loss) per share | 0.00 | (0.01) | 112% | 0.01 | (0.04) | 119% |
Group | Quarter | Quarter | YTD | YTD | ||
ended | ended | |||||
December | December | Variance | December | December 31, | Variance | |
31, 2021 | 31, 2020 | 31, 2021 | 2020 | |||
Unaudited | Unaudited | Unaudited | Restated | |||
Profit / (Loss) for the period | 10,802 | (38,332) | 128% | 73,034 | (61,118) | 219% |
Other comprehensive income | ||||||
Actuarial loss on defined benefit plans | - | (4,867) | -100% | - | (4,867) | -100% |
Equity investments at FVOCI - Net change in fair value | - | (11,669) | -100% | - | (11,669) | -100% |
Tax on other comprehensive income | - | 1,249 | -100% | - | 1,249 | -100% |
Other comprehensive expense for the period (net of | ||||||
tax) | - | (15,287) | -100% | - | (15,288) | -100% |
Total comprehensive income / (expense) for the | ||||||
period | 10,802 | (53,619) | 120% | 73,034 | (76,406) | 196% |
Total comprehensive income / (expense) attributable | ||||||
to: | ||||||
Owners of the parent | 12,144 | (54,593) | 122% | 78,163 | (79,190) | 199% |
Non-controlling interest | (1,341) | 974 | -238% | (5,129) | 2,784 | -284% |
Total comprehensive income / (expense) for the | ||||||
period | 10,802 | (53,619) | 120% | 73,034 | (76,406) | 196% |
Colombo
February 25, 2022
SMB Leasing PLC
Statement of Financial Position (LKR 000)
Company | Group | |||||
December | December | December | December | December | December | |
As at | 31, 2021 | 31, 2020 | 31, 2019 | 31, 2021 | 31, 2020 | 31, 2019 |
Unaudited | Restated | Restated | Unaudited | Restated | Restated | |
Assets | ||||||
Cash and cash equivalents | 103,559 | 232,216 | 25,125 | 105,179 | 236,021 | 31,350 |
Placements with banks | 2,405,234 | 206,255 | 146,885 | 2,407,034 | 232,442 | 161,910 |
Loans and receivables | 1,151,011 | 1,070,958 | 1,204,255 | 1,151,011 | 1,070,058 | 1,203,115 |
Financial investments | 60,735 | 60,657 | 72,249 | 93,713 | 78,744 | 86,154 |
Investments in associate | 41,914 | 41,682 | 39,375 | 41,914 | 41,682 | 39,375 |
Investments in subsidiary | 12,750 | 12,750 | 12,750 | - | - | - |
Investment properties | 142,778 | 96,225 | 96,225 | 159,436 | 112,657 | 106,982 |
Property, plant & equipment | 7,306 | 12,180 | 12,838 | 11,853 | 18,030 | 20,309 |
Right of use Asset | 23,266 | 35,904 | 30,037 | 24,196 | 38,427 | 31,032 |
Intangible assets | 5,615 | 5,928 | 5,042 | 5,672 | 6,492 | 6,175 |
Deferred tax assets | - | - | - | 3,506 | 3,506 | 2,598 |
Other assets | 53,393 | 48,688 | 52,937 | 66,272 | 60,840 | 68,640 |
Total Assets | 4,007,561 | 1,823,443 | 1,697,718 | 4,069,786 | 1,898,899 | 1,757,640 |
Liabilities | ||||||
Due to financial institutions | 526,274 | 599,523 | 415,217 | 526,274 | 599,523 | 415,217 |
Due to other customers | 122,276 | 117,784 | 113,561 | 122,276 | 117,783 | 113,561 |
Leased Liabilities | 15,649 | 21,108 | 21,402 | 16,706 | 23,787 | 22,452 |
Other liabilities | 83,966 | 47,761 | 28,182 | 108,815 | 73,751 | 45,948 |
Total Liabilities | 748,165 | 786,175 | 578,362 | 774,071 | 814,844 | 597,178 |
Equity | ||||||
Stated capital | 3,062,682 | 919,064 | 919,064 | 3,062,682 | 919,064 | 919,064 |
Statutory reserves | 35,081 | 35,081 | 35,081 | 35,081 | 35,081 | 35,081 |
Fair Value reserves | 8,251 | 8,251 | 19,920 | 8,251 | 8,251 | 19,920 |
Retained earnings | 153,382 | 74,872 | 145,291 | 165,744 | 92,572 | 160,093 |
Total equity attributable to equity | ||||||
holders of the Company | 3,259,396 | 1,037,268 | 1,119,356 | 3,271,758 | 1,054,968 | 1,134,158 |
Non- controlling interests | - | - | - | 23,957 | 29,087 | 26,303 |
Total Equity | 3,259,396 | 1,037,268 | 1,119,356 | 3,295,715 | 1,084,055 | 1,160,461 |
Total Equity and Liabilities | 4,007,561 | 1,823,443 | 1,697,718 | 4,069,786 | 1,898,899 | 1,757,640 |
Figures in brackets indicate deductions
The Notes form an integral part of these Interim Financial Statements.
These Financial Statements comply with the requirements of the Companies Act No. 7 of 2007.
Signed
- Wimalasiri Finance Manager
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed on behalf of the Board by,
Signed | Signed |
A.T.S.Sosa | M.S.A.Wadood |
Director | Director |
Colombo | |
February 25, 2022 |
SMB Leasing PLC
Statement of Changes in Equity
For the period ended December 31, 2021 (LKR 000)
Stated Capital | Statutory | Fair Value | Retained | |||
Company | ||||||
Ordinary - | Ordinary - Non | Reserve | Total | |||
Reserve | Earnings | |||||
Voting Shares | Voting Shares | Fund | ||||
Balance as at December 31, 2019 as previously stated | 708,446 | 210,618 | 35,081 | 19,920 | 82,376 | 1,056,441 |
Change in fair value of investment property - Note 017 Impact due to accounting | ||||||
policy change | - | - | - | - | 62,915 | 62,915 |
Restated balance as at December 31, 2019 | 708,446 | 210,618 | 35,081 | 19,920 | 145,291 | 1,119,356 |
Rerstated balance as at January 1, 2020 | 708,446 | 210,618 | 35,081 | 19,920 | 145,291 | 1,119,356 |
Loss for the period | - | - | - | - | (70,012) | (70,012) |
Other comprehensive expense (net of tax) | - | - | - | (11,669) | (407) | (12,076) |
Total comprehensive expense for the period | - | - | - | (11,669) | (70,419) | (82,088) |
Transfer to statutory reserve | - | - | - | - | - | - |
Dividend paid | - | - | - | - | - | |
Total transactions with equity holders | - | - | - | - | - | - |
Rerstated balance as at December 31, 2020 | 708,446 | 210,618 | 35,081 | 8,251 | 74,872 | 1,037,268 |
Rerstated balance as at January 1, 2021 | 708,446 | 210,618 | 35,081 | 8,251 | 74,872 | 1,037,268 |
Profit for the period | - | - | - | - | 83,501 | 83,501 |
Other comprehensive income/(expense) (net of tax) | - | - | - | - | - | - |
Rights issue during the period | 1,847,513 | 296,105 | - | - | - | 2,143,617 |
Direct cost of rights issue | - | - | - | - | (4,991) | (4,991) |
Total comprehensive income for the period | 1,847,513 | 296,105 | - | - | 78,510 | 2,222,127 |
Transfer to statutory reserve | - | - | - | - | - | - |
Dividend paid | - | - | - | - | - | - |
Total transactions with equity holders | - | - | - | - | - | - |
Balance as at December 31, 2021 | 2,555,959 | 506,723 | 35,081 | 8,251 | 153,382 | 3,259,396 |
Colombo
February 25, 2022
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SMB Leasing plc published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 05:21:01 UTC.