NATIONAL SAVINGS BANK (SL) AAA

Financial STATEMENTS
For the Year ended 31st December 2023
INCOME STATEMENT (AUDITED) STATEMENT OF FINANCIAL POSITION (AUDITED)
Bank Group Bank Group
2023 2022 2023 2022 As at As at As at As at
For the Year ended 31st December 31.12.2023 31.12.2022 31.12.2023 31.12.2022
Rs. '000 Rs. '000 Rs. '000 Rs. '000
Income 232,064,322 174,530,349 238,824,651 174,977,187 Rs. '000 Rs. '000 Rs. '000 Rs. '000
Interest income 226,967,227 172,940,351 231,204,088 175,769,899
Interest expenses (197,402,011) (140,477,402) (199,266,982) (142,166,248)
Net interest income 29,565,216 32,462,949 31,937,106 33,603,651 Assets
Fee and commission income 1,593,415 2,172,978 1,605,521 2,180,276 Cash and cash equivalents 9,508,563 8,734,069 9,546,756 8,782,807
Fee and commission expenses (317,046) (232,767) (317,292) (235,201) Balances with Central Bank 246,998 236,480 247,232 236,696
Net fee and commission income 1,267,369 1,940,211 1,288,229 1,945,075 Placements with banks 22,576,750 10,466,409 23,618,966 11,034,246
Net gains/(losses) from trading 1,425,791 (971,434) 3,701,827 (3,489,830)
Derivative financial instruments 924 28,172 11,231 35,392
Net fair value gains/(losses)
financial assets at fair value through profit or loss - - - - Financial assets recognized through profit or loss
financial liabilities at fair value through profit or loss - - - - measured at fair value 17,748,501 14,173,948 40,189,162 23,236,848
Net gains/(losses) on derecognition of financial assets designated at fair value - - - -
at fair value through profit or loss - - - - Financial assets at amortised cost
at amortised cost - (18,289) - (18,289) Loans and Advances 526,520,530 553,027,321 523,809,104 553,052,170
at fair value through other comprehensive income 1,820,617 (7,913) 1,820,617 (7,913) Debt and other instruments 943,704,684 919,129,377 953,056,324 927,916,442
Net other operating income 257,272 414,656 492,598 543,045
Financial assets measured at fair value through other comprehensive income 61,924,412 27,662,763 62,694,519 28,252,211
Total operating income 34,345,265 33,820,181 39,240,377 32,575,739
Investments in subsidiaries 7,311,000 7,311,000 - -
Impairment charges (4,258,828) (4,862,198) (4,159,978) (4,935,391)
Investments in associates and joint ventures - - - -
Net operating income 30,086,437 28,957,983 35,080,399 27,640,348
Personnel expenses (16,110,458) (13,790,521) (16,424,824) (14,117,672) Property, plant and equipment 17,248,961 14,755,775 18,389,400 15,645,732
Depreciation and amortization expenses (1,432,520) (1,414,697) (1,448,489) (1,431,867) Right of use assets 1,164,595 1,213,649 1,193,161 1,246,383
Other expenses (6,954,619) (5,990,018) (7,097,612) (6,352,583) Investment properties - - 349,000 204,977
Operating profit/(loss) before VAT & SSCL on financial services 5,588,840 7,762,747 10,109,474 5,738,226 Goodwill and intangible assets 744,715 747,248 747,225 752,221
Value Added Tax (VAT) on financial services (1,142,716) (3,185,879) (1,832,755) (3,326,549) Deferred tax assets 5,885,288 2,892,984 5,885,288 3,663,879
Social Security Contribution Levy (SSCL) on financial services (158,708) (67,259) (254,298) (72,067)
Other assets 72,378,671 56,306,931 72,570,357 56,576,713
Operating profit/(loss) after VAT & SSCL on financial services 4,287,416 4,509,609 8,022,421 2,339,610
Share of profits of associates and joint ventures - - - - Total assets 1,686,964,592 1,616,686,128 1,712,307,725 1,630,636,718
Profit/(loss) before tax 4,287,416 4,509,609 8,022,421 2,339,610
Income tax expenses 2,929,067 (1,979,942) 1,594,388 (1,390,619) Liabilities
Profit/(loss) for the year 7,216,483 2,529,667 9,616,809 948,991
Profit attributable to: Due to banks 8,984,779 4,086,731 15,399,100 12,711,256
Equity holders of the Bank 7,216,483 2,529,667 9,616,809 948,991 Derivative financial instruments 201 - 201 -
Non-controlling interests - - - - Financial liabilities recognized through profit or loss
Earnings per share on profit measured at fair value - - - -
Basic earnings per ordinary share (Rs.) 7.68 2.69 10.23 1.01 designated at fair value through profit or loss - - - -
Diluted earnings per ordinary share (Rs.) 7.68 2.69 10.23 1.01 Financial liabilities at amortised cost
due to depositors 1,482,532,430 1,476,739,818 1,482,951,028 1,475,808,557
STATEMENT OF COMPREHENSIVE INCOME (AUDITED) due to debt securities holders - - - -
Bank Group due to other borrowers 61,611,014 16,766,044 72,891,598 18,889,245
For the Year ended 31st December 2023 2022 2023 2022 Lease liability 1,365,547 1,377,229 1,400,575 1,414,959
Rs. '000 Rs. '000 Rs. '000 Rs. '000 Debt securities issued 23,806,514 23,778,255 23,879,683 23,851,810
Profit / (Loss) for the year 7,216,483 2,529,667 9,616,809 948,991 Retirement benefit obligations 18,100,399 12,488,912 18,169,106 12,547,851
Items that will be reclassified to Income Statement Current tax liabilities - 2,760,857 305,869 2,943,314
Exchange differences on translation of foreign operations - - - - Deferred tax liabilities - - 58,630 4,155
Net gains/(losses) on cash flow hedges - - - - Other provisions - - - -
Net gains/(losses) on investments in debt instruments measured at fair value
- - - - Other liabilities 9,189,455 5,796,053 9,463,508 6,075,889
through other comprehensive income
Share of profits of associates and joint ventures - - - - Due to subsidiaries - - - -
Debt instruments at fair value through other comprehensive Income 3,742,285 (658,872) 3,919,079 (596,547) Total liabilities 1,605,590,339 1,543,793,899 1,624,519,298 1,554,247,037
Net gains/(losses) on investment in debt instruments transferred to
(1,820,617) 7,913 (1,820,617) 7,913 Equity
income statement
Deferred tax effect on the above (576,501) 220,995 (629,539) 220,995
Stated capital/Assigned capital 9,400,000 9,400,000 9,400,000 9,400,000
Total other comprehensive income to be reclassified to
Income Statement 1,345,167 (429,964) 1,468,923 (367,638) Statutory reserve fund 5,369,172 5,224,842 5,464,218 5,281,952
OCI reserve 1,286,463 (1,669,876) 1,433,850 (1,765,659)
Items that will not to be reclassified to Income Statement
Change in fair value on investments in equity instruments designated at fair Retained earnings 14,408,118 11,359,152 18,605,719 13,589,101
1,971,371 (581,536) 2,070,885 (643,881)
value through other comprehensive income Other reserves 50,910,500 48,578,110 52,884,640 49,884,287
Change in the fair value attributable to change in the Bank's own credit
- - - - Total shareholders' equity 81,374,253 72,892,229 87,788,427 76,389,681
risk on financial liabilities designated at fair value through profit or loss
Re-measurement of post-employment benefit obligations (6,107,248) (880,529) (6,106,664) (882,050) Non-controlling interests - - - -
Deferred tax effect on the above 1,723,862 1,225,071 1,723,503 1,225,071
Total equity 81,374,253 72,892,229 87,788,427 76,389,681
Re-measurement of post-employment benefit obligations (net of taxes) (4,383,386) 344,542 (4,383,161) 343,021
Change in revaluation reserve 2,075,948 - 2,333,511 - Total equity and liabilities 1,686,964,592 1,616,686,128 1,712,307,725 1,630,636,718
Deferred tax effect on the above (623,608) (555,724) (623,608) (555,724)
Changes in revaluation surplus (net of taxes) 1,452,340 (555,724) 1,709,903 (555,724) Contingent liabilities and commitments 9,884,874 14,416,802 9,928,995 14,617,867
Share of profits of associates and joint ventures - - - -
Total other comprehensive income not to be reclassified to Memorandum Information
Income Statement (959,675) (792,718) (602,373) (856,584)
Number of Employees 4,358 4,528
Total other comprehensive income(OCI) for the year,
net of taxes 385,492 (1,222,682) 866,550 (1,224,223) Number of Branches 262 262
Total comprehensive income for the year 7,601,975 1,306,985 10,483,359 (275,232)
Attributable to: Note: Amounts stated are in net of impairment and depreciation.
Equity holders of the Bank 7,601,975 1,306,985 10,483,359 (275,232)
Non-controlling interests - - - -
Explanatory Notes :- financial strength of the entity and other holistic factors. Based on the assessment some borrowers were moved from stage one to stage two and some borrowers were moved
1. There are no changes to the accounting policies and methods of computation since the publication of annual accounts for the year 2022. from stage two to stage three (due to expected cashflow impairment) despite of their past due status.

2. The comparable information is re-classified as wherever necessary to compare with the current year's classification in order to provide a better presentation.  T
 he portfolio level impairment assessment was carried out for the individual borrowers. The Bank closely monitors and considers the impact of economy to business
3. Impairment Assessment operations and performance. In order to capture the expected lossess from loans and advances due to prevalent economic conditions, the Bank adjusted the economic factor
All the Corporate clients were assessed individually based on their historical payment patterns, economic recession impact to their sectors and expected recovery of the sector, adjustment.

STATEMENT OF CHANGES IN EQUITY - BANK (AUDITED)

In Rupees Thousand
Stated Capital/
For the Year ended 31st December 2022 Statutory Reserve Fund Revaluation Reserve OCI Reserve Retained Earnings Other Reserve Total Equity
Assigned Capital
Balance as at 1st January 2022 9,400,000 5,174,249 7,049,600 (658,376) 13,727,801 41,319,482 76,012,757
Prior Year Adjustments - - - - (5,166,968) - (5,166,968)
Re-stated opening balance 9,400,000 5,174,249 7,049,600 (658,376) 8,560,833 41,319,482 70,845,789
Total comprehensive income for the year
Net profit for the year - - - - 2,529,667 - 2,529,667
Other comprehensive income net of tax - - - - 344,542 - 344,542
Net change in fair value of debt instrument of Fair Value
through Other Comprehensive Income - - - (429,964) - - (429,964)
Net change in fair value of equity instrument of Fair Value
through Other Comprehensive Income - - - (581,536) - - (581,536)
Net change in Revaluation Reserve - - (555,724) - - - (555,724)
Total comprehensive income for the year - - (555,724) (1,011,500) 2,874,209 - 1,306,985
Transactions with equity holders, recognised directly in equity
Transfers to unclaimed deposits reserve / Issued Share Capital - - - - - 764,753 764,753
Contribution to the consolidated fund-Dividend/Levy - - - - - - -
Contribution to national insurance trust fund - - - - (25,297) - (25,297)
Transfers during the year - 50,593 - - (50,593) - -
Total transactions with equity holders - 50,593 - - (75,890) 764,753 739,456
Balance as at 31st December 2022 9,400,000 5,224,842 6,493,876 (1,669,876) 11,359,152 42,084,235 72,892,229
In Rupees Thousand
Stated Capital/
For the Year ended 31st December 2023 Statutory Reserve Fund Revaluation Reserve OCI Reserve Retained Earnings Other Reserves Total Equity
Assigned Capital
Balance as at 1st January 2023 9,400,000 5,224,842 6,493,876 (1,669,876) 11,359,152 42,084,235 72,892,229
Total comprehensive income for the year
Net profit for the year - - - - 7,216,483 - 7,216,483
Other comprehensive income net of tax - - - - (4,383,386) - (4,383,386)
Net change in fair value of debt instrument of Fair Value
through Other Comprehensive Income - - - 1,345,167 - - 1,345,167
Net change in fair value of equity instrument of Fair Value -
through Other Comprehensive Income - - - 1,611,172 360,199 - 1,971,371
Net change in Revaluation Reserve - - 1,452,340 - - - 1,452,340
Total comprehensive income for the year - - 1,452,340 2,956,339 3,193,296 - 7,601,975
Transactions with equity holders, recognised directly in equity
Transfers to unclaimed deposits reserve / issued share capital - - - - - 880,049 880,049
Contribution to the consolidated fund-Dividend/Levy - - - - - - -
Contribution to national insurance trust fund - - - - - - -
Transfers during the year - 144,330 - - (144,330) - -
Total transactions with equity holders - 144,330 - - (144,330) 880,049 880,049
Balance as at 31st December 2023 9,400,000 5,369,172 7,946,216 1,286,463 14,408,118 42,964,284 81,374,253

STATEMENT OF CHANGES IN EQUITY - GROUP (AUDITED)

In Rupees Thousand
Stated Capital/
For the Year ended 31st December 2022 Statutory Reserve Fund Revaluation Reserve OCI Reserve Retained Earnings Other Reserves Total Equity
Assigned Capital
Balance as at 1st January 2022 9,400,000 5,209,101 7,488,706 (754,140) 17,918,992 42,186,553 81,449,213
Prior Year Adjustments - - - - (5,523,755) - (5,523,755)
Re-stated opening balance 9,400,000 5,209,101 7,488,706 (754,140) 12,395,237 42,186,553 75,925,458
Total comprehensive income for the year
Net profit for the year - - - - 948,991 - 948,991
Other comprehensive income net of tax - - - - 343,021 - 343,021
Net change in fair value of debt instrument of Fair Value
through Other Comprehensive Income - - - (367,638) - - (367,638)
Net change in fair value of equity instrument of Fair Value
through Other Comprehensive Income - - - (643,881) - - (643,881)
Net change in Revaluation Reserve - - (555,724) - - - (555,724)
Total comprehensive income for the year - - (555,724) (1,011,519) 1,292,012 - (275,232)
Transactions with equity holders, recognised directly in equity
Transfers to unclaimed deposits reserve/Issued Share Capital - - - - - 764,753 764,753
Contribution to the consolidated fund-Dividend/Levy - - - - - - -
Contribution to national insurance trust fund - - - - (25,297) - (25,297)
Transfers during the year - 72,851 - - (72,851) - -
Total transactions with equity holders - 72,851 - - (98,148) 764,753 739,456
Balance as at 31st December 2022 9,400,000 5,281,952 6,932,981 (1,765,659) 13,589,101 42,951,306 76,389,681
In Rupees Thousand
Stated Capital/
For the Year ended 31st December 2023 Statutory Reserve Fund Revaluation Reserve OCI Reserve Retained Earnings Other Reserves Total Equity
Assigned Capital
Balance as at 1st January 2023 9,400,000 5,281,952 6,932,981 (1,765,659) 13,589,101 42,951,306 76,389,681
Prior Year Adjustments - - - 19,900 15,438 - 35,338
Re-stated opening Balance 9,400,000 5,281,952 6,932,981 (1,745,759) 13,604,539 42,951,306 76,425,019
Total comprehensive income for the year
Net profit for the year - - - - 9,616,809 - 9,616,809
Other comprehensive income net of tax - - - - (4,383,161) - (4,383,161)
Net change in fair value of debt instrument of Fair Value
through Other Comprehensive Income - - - 1,468,923 - - 1,468,923
Net change in fair value of equity instrument of Fair Value
through Other Comprehensive Income - - - 1,710,686 360,199 - 2,070,885
Net change in Revaluation Reserve - - 1,709,903 - - - 1,709,903
Total comprehensive income for the year - - 1,709,903 3,179,609 5,593,847 - 10,483,359
Transactions with equity holders, recognised directly in equity
Transfers to unclaimed deposits reserve / issued share capital - - - - - 880,049 880,049
Contribution to the consolidated fund-Dividend/Levy - - - - - - -
Contribution to national insurance trust fund - - - - - - -
Transfers during the year - 182,266 - - (592,667) 410,401 -
Total transactions with equity holders - 182,266 - - (592,667) 1,290,450 880,049
Balance as at 31st December 2023 9,400,000 5,464,218 8,642,884 1,433,850 18,605,719 44,241,756 87,788,427

The NSB Act No. 30 of 1971 certifies government guarantee for your savings at NSB and interest due thereon.
 NATIONAL SAVINGS BANK
FINANCIAL STATEMENTS
For the Year ended 31 December 2023 st
(SL) AAA
ANALYSIS OF FINANCIAL INSTRUMENTS ON MEASUREMENT BASIS ANALYSIS OF FINANCIAL INSTRUMENTS ON MEASUREMENT BASIS
a. Bank - as at 31.12.2023 (Audited) c. Group - as at 31.12.2023 (Audited)
In Rupees Thousand AC FVPL FVOCI Total In Rupees Thousand AC FVPL FVOCI Total

ASSETS ASSETS
Cash and cash equivalents 9,508,563 - - 9,508,563 Cash and cash equivalents 9,546,756 - - 9,546,756
Balances with central bank 247,232 - - 247,232
Balances with central bank 246,998 - - 246,998 Placements with banks 23,618,966 - - 23,618,966
Derivative financial instruments - 11,231 - 11,231
Placements with banks 22,576,750 - - 22,576,750 Loans and advances 523,809,104 - - 523,809,104
Derivative financial instruments - 924 - 924 Debt instruments 953,056,324 39,363,784 59,459,820 1,051,879,928
Equity instruments - 825,378 3,234,699 4,060,077
Loans and advances 526,520,530 - - 526,520,530 Total financial assets 1,510,278,382 40,200,393 62,694,519 1,613,173,294
Debt instruments 943,704,684 16,923,123 58,894,210 1,019,522,017
In Rupees Thousand AC FVPL Total
Equity instruments - 825,378 3,030,202 3,855,580
LIABILITIES
Total financial assets 1,502,557,525 17,749,425 61,924,412 1,582,231,362 Due to banks 15,399,100 - 15,399,100
Derivative financial instruments - 201 201
AC FVPL Financial liabilities
In Rupees Thousand Total
-due to depositors 1,482,951,028 - 1,482,951,028
LIABILITIES -due to debt securities holders - - -
- due to other borrowers 72,891,598 - 72,891,598
Due to banks 8,984,779 - 8,984,779 Debt securities issued 23,879,683 - 23,879,683
Derivative financial instruments - 201 201 Total financial liabilities 1,595,121,409 201 1,595,121,610

Financial liabilities d. Group - as at 31.12.2022 - (Audited)

-due to depositors 1,482,532,430 - 1,482,532,430 In Rupees Thousand AC FVPL FVOCI Total

-due to debt securities holders - - - ASSETS

- due to other borrowers 61,611,014 - 61,611,014 Cash and cash equivalents 8,782,807 - - 8,782,807
Balances with central bank 236,696 - - 236,696
Debt securities issued 23,806,514 - 23,806,514 Placements with banks 11,034,246 - - 11,034,246
Derivative financial instruments - 35,392 - 35,392
Total financial liabilities 1,576,934,737 201 1,576,934,938 Loans and advances 553,052,170 - - 553,052,170
Debt instruments 927,916,442 21,280,010 25,833,465 975,029,917
b. Bank - as at 31.12.2022 - (Audited) Equity instruments - 1,956,839 2,418,746 4,375,585
Total financial assets 1,501,022,360 23,272,240 28,252,212 1,552,546,812
In Rupees Thousand AC FVPL FVOCI Total
In Rupees Thousand AC FVPL Total
ASSETS
LIABILITIES
Cash and cash equivalents 8,734,069 - - 8,734,069
Due to banks 12,711,256 - 12,711,256
Balances with central bank 236,480 - - 236,480 Derivative financial instruments - - -
Placements with banks 10,466,409 - - 10,466,409 Financial liabilities
-due to depositors 1,475,808,557 1,475,808,557
Derivative financial instruments - 28,172 - 28,172 -due to debt securities holders - - -
Loans and advances 553,027,321 - - 553,027,321 - due to other borrowers 18,889,245 - 18,889,245
Debt securities issued 23,851,810 - 23,851,810
Debt instruments 919,129,377 12,217,110 25,348,941 956,695,428
Total financial liabilities 1,531,260,868 - 1,531,260,868
Equity instruments - 1,956,839 2,313,822 4,270,660
Total financial assets 1,491,593,656 14,202,120 27,662,763 1,533,458,540 CASH FLOW STATEMENT (AUDITED)
Bank Group
In Rupees Thousand AC FVPL Total 2023 2022 2023 2022
For the year ended 31st December Rs. '000 Rs. '000 Rs. '000 Rs. '000
LIABILITIES
Due to banks 4,086,731 - 4,086,731 Cash flows from operating activities
Interest receipts 213,131,665 157,730,789 217,040,151 160,184,287
Derivative financial instruments - - -
Interest payments (214,047,888) (106,467,959) (215,725,905) (107,964,314)
Financial liabilities Net commission receipts 1,276,369 1,940,211 1,288,229 1,945,075
-due to depositors 1,476,739,818 - 1,476,739,818 Trading income 3,025,719 604,677 3,864,848 (1,451,632)
- - - Payment to employees (13,670,876) (15,326,878) (13,985,920) (15,627,914)
-due to debt securities holders
VAT & SSCL on financial services (1,676,459) (2,921,186) (2,452,649) (3,052,866)
- due to other borrowers 16,766,044 - 16,766,044 Receipts from other operating activities 263,012 315,602 347,353 435,836
Debt securities issued 23,778,255 - 23,778,255 Payment on other operating activities (6,962,648) (5,955,251) (7,076,615) (6,318,723)
Operating profit before change in operating assets & liabilities (18,661,106) 29,920,005 (16,700,508) 28,149,749
Total financial liabilities 1,521,370,848 - 1,521,370,848
(Increase) / decrease in operating assets
Placement with banks (11,652,088) (3,323,523) (12,248,452) (1,515,758)
AC - Financial assets / liabilities measured at amortised cost
Derivative financial instruments 80,310 (15,773) 77,223 (15,773)
FVPL - Financial assets / liabilities measured at fair value through profit or loss Financial assets at FVPL (3,521,905) 4,057,889 (15,034,040) 15,380,741
FVOCI - Financial assets / liabilities measured at fair value through other comprehensive income Financial assets at amortised cost – loans & advances 23,620,755 (12,868,207) 26,461,823 (13,296,497)
Financial assets at amortised cost - debt & other Instruments (13,316,612) 23,489,440 (13,853,444) 20,080,005
Proceeds from the sale and maturity of financial investments - - - -
ANALYSIS OF LOANS & ADVANCES AND IMPAIRMENT (AUDITED) Other assets (2,500,591) (23,508,621) (2,482,936) (23,524,364)
AS AT 31.12.2023 (7,290,131) (12,168,797) (17,079,826) (2,891,648)
Increase / (decrease) in operating liabilities
Bank Group
Due to Bank 4,750,000 (3,526,250) 2,518,067 2,309,185
As at As at As at As at Derivative Financial Instruments 201 - 201 -
In Rupees Thousand Financial liabilities at amortised cost – due to depositors 9,809,431 16,036,697 11,156,350 16,626,285
31.12.2023 31.12.2022 31.12.2023 31.12.2022 Financial liabilities at amortised cost – due to debt securities holders - - - -
Financial liabilities at amortised cost – due to other borrowers 44,462,152 8,615,033 53,457,442 (8,594,251)
Debt securities issued - (13,677,000) 3,617 (13,692,321)
Product-wise Gross loans and advances Other liabilities 2,109,889 4,355,972 2,073,966 4,240,331
By product - Domestic currency 61,131,673 11,804,452 69,209,643 889,229
Net cash generated from operating activities before income tax 35,180,436 29,555,660 35,429,309 26,147,331
Lease rental and hire purchase receivable - - 74,111 172,973
Income tax paid (2,403,112) (9,880,107) (2,739,667) (10,551,646)
Term loans 425,243,957 474,005,741 426,872,470 474,974,731
Net cash (used in) / from operating activities 32,777,324 19,675,553 32,689,642 15,595,685
Pawning 94,935,475 74,389,506 94,935,503 74,389,569
Cash flow from investing activities
Other loans Purchase of property, plant and equipment (1,145,156) (558,740) (1,147,412) (562,353)
Proceeds from the sale of property, plant and equipment 3,438 3,045 3,438 14,432
Loan to Government - 2,075,000 - 2,075,000 Net (increase)/decrease in finance instruments at fair value through other
Securities purchased under resale agreements 9,698,614 739,728 6,356,234 818,424 comprehensive income (30,021,350) (14,402,860) (29,937,745) (12,850,581)
Net purchase/ improvement to Investment Properties - - - 7,510
Staff loans 15,219,547 14,867,179 15,557,481 15,194,107 Proceeds from the sale and maturity of financial investments - - - -
Net purchase of intangible assets (344,272) (370,093) (344,272) (372,543)
Sub Total 545,097,593 566,077,154 543,795,799 567,624,804 Net cash flow from acquisition of investment in subsidiaries and associates - (2,500,000) - -
By product - Foreign currency Dividends received from investment in subsidiaries and associates - - - -
Net cash (used in)/from investing activities (31,507,340) (17,828,648) (31,425,991) (13,763,534)
Term loans 3,800,309 4,178,581 3,800,309 4,178,581
Cash flow from financing activities
Gross loans & advances 548,897,902 570,255,736 547,596,108 571,803,385 Net proceeds from the issue of ordinary share capital - - - -
Net proceeds from the issue of subordinated debt - - - -
Less: Accumulated impairment under stage 1 (4,426,656) (4,691,568) (4,435,168) (4,713,720) Repayment of subordinated debt - - - -
Accumulated impairment under stage 2 (3,501,809) (2,623,411) (3,525,267) (2,666,511) Interest paid on subordinated debt (600,000) (541,660) (604,003) (542,342)
Contribution to consolidated fund-dividend/levy - - - -
Accumulated impairment under stage 3 (14,448,907) (9,913,436) (15,826,569) (11,370,985)
Net cash from financial activities (600,000) (541,660) (604,003) (542,342)
Net value of loans & advances 526,520,530 553,027,321 523,809,104 553,052,170
Net increase/(decrease) in cash & equivalents 669,984 1,305,246 659,648 1,289,809
Movement of Impairment during the year Cash and cash equivalents at the beginning of the year 8,894,757 7,589,511 8,943,521 7,653,712
Exchange difference in respect of cash & cash equivalent - - - -
Under Stage 1
Cash and cash equivalents at the end of the year 9,564,741 8,894,757 9,603,169 8,943,521
Opening balance 4,691,568 3,515,327 4,713,720 3,597,035
Charge/(Write back) to Income Statement (264,912) 1,176,241 (278,552) 1,116,685 SELECTED PERFORMANCE INDICATORS (AS PER REGULATORY REPORTING)
Closing balance at 4,426,656 4,691,568 4,435,168 4,713,720 Bank Group
As at As at As at As at
Under Stage 2 Item
31.12.2023 31.12.2022 31.12.2023 31.12.2022
Opening balance 2,623,411 2,150,965 2,666,511 2,168,833 Regulatory Capital Adequacy (LKR in Thousand)
Charge/(Write back) to Income Statement 878,398 472,446 858,756 497,678 Common Equity Tier 1 48,539,426 50,531,185 59,238,806 58,439,855
Core (Tier 1) Capital 53,539,426 55,531,185 64,238,806 63,439,855
Closing balance at 3,501,809 2,623,411 3,525,267 2,666,511 Total Capital Base 60,998,920 63,346,963 71,634,169 70,727,947
Under Stage 3
Regulatory Capital Ratios (%)
Opening balance 9,913,436 6,303,928 11,370,985 7,682,494 Common Equity Tier 1 Capital (%)(Minimum Requirement - 2023 - 7%, 2022-6.5%) 15.329 14.357 18.391 16.492
Tier 1 Capital Ratio (%) (Minimum Requirement - 2023-8.5%, 2022-8%) 16.908 15.778 19.943 17.903
Charge/(Write back) to Income Statement 4,581,239 3,655,413 4,515,514 3,767,466
Total Capital Ratio (%) (Minimum Requirement - 2023-12.5%,2022-12%) 19.263 17.999 22.239 19.959
Write-off during the year (45,768) (45,906) (48,022) (56,585)
Leverage Ratio (Minimum Requirement - 3.00%) 6.23 7.43 7.05 8.14
Other movements - - (11,908) (22,390)
Regulatory Liquidity
Closing balance at 14,448,907 9,913,436 15,826,569 11,370,985 Statutory Liquid Assets (LKR in Thousand) 810,782,666 578,088,976 NR NR
Total Impairment 22,377,372 17,228,415 23,787,004 18,751,216 Statutory Liquid Assets Ratio (%) (Minimum Requirement - 20%)
Domestic Banking Unit (%) 54.99 40.62 NR NR
Off-Shore Banking Unit (%) NR NR NR NR
ANALYSIS OF DEPOSITS (AUDITED) Total Stock of High Quality Liquid Assets (All Currency LKR in Thousand) 788,514,204 559,128,187 NR NR
Liquidity Coverage Ratio (%) - (Minimum Requirement - 2023-100%, 2022 - 90%)
AS AT 31.12.2023 Rupee (%) 299.20 195.54 NR NR
Bank Group All Currency (%) 293.71 193.49 NR NR
Net Stable Funding Ratio (%) - (Minimum Requirement - 2023 - 100% , 2022 - 90%) 180.49 180.51 NR NR
As at As at As at As at
In Rupees Thousand
31.12.2023 31.12.2022 31.12.2023 31.12.2022 Assets Quality (Quality of Loan Portfolio)
Impaired Loans (Stage 3) Ratio (%) (net of Stage 3 impairment) 2.41 2.83 NR NR
Impairment (Stage 3) to Stage 3 Loans Ratio (%) 53.28 38.74 NR NR
By product - Domestic currency
Demand deposits (current accounts) - - - - Profitability
Interest Margin (%) 1.79 2.03 1.91 2.08
Savings deposits 272,105,884 257,569,078 272,209,539 257,701,184
Return on Assets (before Tax),(%) 0.26 0.28 0.48 0.14
Fixed deposits 1,183,553,741 1,192,620,725 1,183,868,684 1,191,557,357 Return on Equity (%) 9.36 3.40 11.72 1.20
Sub Total 1,455,659,625 1,450,189,803 1,456,078,223 1,449,258,541 Note : NR - Not Relevant (a) The above statements have been prepared in compliance with the
By product - Foreign currency CERTIFICATION format and definitions prescribed by the Central Bank of Sri Lanka;
Demand deposits (current accounts) - - - - I certify that the above Financial Statements give a true and fair view of the (b) The information contained in these statements has been extracted from
State of Affairs of the Bank and its subsidiaries as at 31st December 2023 the audited Financial Statements of the Bank and its subsidiary
Savings deposits 6,100,268 6,970,349 6,100,268 6,970,349 companies.
and the profits for the year then ended.
Fixed deposits 20,772,537 19,579,667 20,772,537 19,579,667 sgd K Raveendran sgd. Dr. Harsha Cabral, PC sgd. Shashi Kandambi
Sub Total 26,872,805 26,550,015 26,872,805 26,550,015 Senior Deputy General Manager Chairman General Manager / CEO
We, the undersigned, being the Chairman and the General Manager/ Colombo, Sri Lanka
Total 1,482,532,430 1,476,739,818 1,482,951,028 1,475,808,557
Chief Executive Officer of National Savings Bank certify jointly that :- 20th March 2024

The NSB Act No. 30 of 1971 certifies government guarantee for your savings at NSB and interest due thereon.