Despite the challenges, due to high levels of non-performing advances, resulted in increased provisioning for impairment charges and taxation increases. SDB bank has shown impressive improvements in all its key areas. The bank has been resilient to these challenges through prudent and strong Assets & Liability Management. However it has been able to increase its Market Share over the years whilst managing a stable profitability.

Accordingly, 2018 has been regarded as another exigent year for SDB. In spite of the challenges, the bank has established its capability to grow by focusing on enhanced customer experiences through improved service quality and effectively combined with marketing improvements.

The Financial Review is based on the financial statements prepared in accordance with Sri Lanka Accounting Standards, other regulatory reporting requirements and best practices applicable to the Bank.


Statement of Financial Position

2018 LKR Mn 2017 LKR Mn Change in LKR Mn % Change
Total Assets 96,818 82,375 14,443 18%
Gross Loans and Receivables 79,482 68,105 11,378 17%
Other Financial Assets 17,312 13,822 3,490 25%
Total Liabilities 89,369 75,044 14,325 19%
Customer Deposits 67,475 59,905 7,570 13%
Borrowings 15,421 8,828 6,593 75%
Shareholder’s Funds 7,449 7,331 118 2%

Profitability Movement (LKR Mn)

2018 LKR Mn 2017 LKR Mn 2016 LKR Mn 2015 LKR Mn 2014 LKR Mn
Profit Before Tax 644 753 617 1,111 751
Profit After Tax 357 508 404 721 504

Operating Income (LKR Mn)

2018 LKR Mn 2017 LKR Mn 2016 LKR Mn 2015 LKR Mn 2014 LKR Mn
Net Interest Income 4,693 3,887 3,330 3,368 2,449
Net Fee and Commission Income 222 275 203 215 162
Other operating income 301 263 57 57 222

Net Interest Margin

2018 2017 2016 2015 2014
Net Interest Margin 5.50% 5.57% 5.83% 7.13% 7.48%

Operating Expenses (LKR Mn)

2018 LKR Mn 2017 LKR Mn 2016 LKR Mn 2015 LKR Mn 2014 LKR Mn
Personnel Expenses 1,827 1,474 1,266 1,115 768
Depreciation & Amortisation 224 192 176 149 116
Other Expenses 1,526 1,364 1,114 943 804

 

Total Assets (LKR Mn)

2018 LKR Mn 2017 LKR Mn 2016 LKR Mn 2015 LKR Mn 2014 LKR Mn
Total Assets 96,818 82,375 66,033 60,290 40,573
Industry Growth 9% 12% 12% 16% 17%
SDB Growth 18% 25% 10% 49% 36%

 

Loans and Advances (LKR Mn)

2018 LKR Mn 2017 LKR Mn 2016 LKR Mn 2015 LKR Mn 2014 LKR Mn
Loans and Advances 77,507 66,687 53,633 45,830 32,060
Industry Growth 14% 20% 18% 21% 14%
SDB Growth 16% 24% 17% 43% 45%

Total Deposits (LKR Mn)

2018 LKR Mn 2017 LKR Mn 2016 LKR Mn 2015 LKR Mn 2014 LKR Mn
Total Deposits 67,475 59,905 45,692 43,023 30,249
Industry Growth 13% 13% 17% 15% 12%
SDB Growth 13% 31% 6% 42% 28%