People Leasing & Finance : Interim Financial Statements as at 31.12.2021

For the nine months ended 31st December 2021

Contents

Financial Information

Statement of Financial Position	01
Statement of Profit or Loss - Company	02
Statement of Profit or Loss - Group	03
Statement of Comprehensive Income - Company	04
Statement of Comprehensive Income - Group	05
Statement of Changes in Equity - Company	06
Statement of Changes in Equity - Group	07
Statement of Cash Flows	08
Analysis of Financial Instruments by Measurement Basis - Company	09
Analysis of Financial Instruments by Measurement Basis - Group	10
Fair Value Hierarchy	11
Segmental Analysis	12
Information on Ordinary Shares of the Company	13
Shareholders' Information	14
Explanatory Notes	15,16
Analysis of Loans and Receivables Impairment	17
Debenture Information	18
Related Party Disclosure - Company	19
Related Party Disclosure - Group	20
Corporate Information	21

INTERIM

FINANCIAL

STATEMENTS

STATEMENT OF FINANCIAL POSITION

			Company				Group
As at		31.12.2021		31.03.2021	Change	31.12.2021		31.03.2021	Change
		Rs. Mn.		Rs. Mn.	%	Rs. Mn.		Rs. Mn.	%
		Unaudited*		Audited		Unaudited*		Audited
Assets
Cash and cash equivalents	6,829	2,703	152.6	7,108	3,845	84.9
Balances with banks and financial institutions	8,733	5,399	61.8	12,622	8,231	53.3
Financial assets -Fair value through profit or loss	13	110	(88.2)	995	1,282	(22.4)
Loans and receivables - Amortised cost	146,449	141,388	3.6	155,298	149,342	4.0
Insurance and reinsurance receivables	-	-	-	865	1,024	(15.5)
Financial assets - Fair value through other
comprehensive income	1,162	309	276.1	1,465	735	99.3
Debt instrument - Amortised cost	9,940	6,994	42.1	12,716	8,593	48.0
Investments in subsidiaries	3,214	3,214	-	-	-	-
Investment property	-	-	-	821	821	-
Other assets	1,074	576	86.5	1,312	933	40.6
Property, plant and equipment	1,391	1,049	32.6	4,075	4,034	1.0
Right-of-use assets	1,798	2,242	(19.8)	1,284	1,591	(19.3)
Deferred tax assets	211	416	(49.3)	460	594	(22.6)
Goodwill and intangible assets	57	146	(61.0)	175	266	(34.2)
Total assets	180,871	164,546	9.9	199,196	181,291	9.9
Liabilities
Due to banks - Amortised cost	12,699	6,439	97.2	15,232	9,004	69.2
Due to customers - Amortised cost	106,473	101,503	4.9	110,084	103,744	6.1
Debt securities issued - Amortised cost	16,836	13,826	21.8	16,699	13,685	22.0
Other financial liabilities - Amortised cost	4,270	4,132	3.3	4,348	4,111	5.8
Insurance liabilities and reinsurance payable	-	-	-	4,921	5,016	(1.9)
Lease liabilities - Amortised cost	1,959	2,286	(14.3)	1,368	1,615	(15.3)
Current tax liabilities	224	362	(38.1)	575	884	(35.0)
Other liabilities	1,143	1,070	6.8	1,203	1,154	4.2
Retirement benefit obligation	666	587	13.5	744	658	13.1
Deferred tax liabilities	-	-	-	294	298	(1.3)
Total liabilities	144,270	130,205	10.8	155,468	140,169	10.9
Equity
Stated Capital	17,072	14,892	14.6	17,072	14,892	14.6
Statutory reserve fund	2,407	2,407	-	2,465	2,465	-
Retained earnings	17,365	17,160	1.2	21,198	20,682	2.5
Other reserves	(243)	(118)	(105.9)	291	421	(30.9)
Total equity attributable to equity holders of the
Company	36,601	34,341	6.6	41,026	38,460	6.7
Non-controlling interest	-	-	-	2,702	2,662	1.5
Total equity	36,601	34,341	6.6	43,728	41,122	6.3
Total liabilities and equity	180,871	164,546	9.9	199,196	181,291	9.9
Contingencies	735	697	5.5	753	744	1.2
Commitments	14,318	10,301	39.0	14,318	10,301	39.0
Net assets value per ordinary share (Rs.)	19.39	20.15	(3.8)	21.74	22.56	(3.6)

CERTIFICATION

We certify that the above Interim Financial Statements are in compliance with the requirements of the Companies Act No. 7 of 2007.

(sgd.)	(sgd.)
Omal Sumanasiri	Shamindra Marcelline
Chief Manager Finance	Chief Executive Officer
The Board of Directors is responsible for these Interim Financial Statements.
Approved and Signed for and on behalf of the Board:
(sgd.)	(sgd.)
Sujeewa Rajapakse	K.C.J.C. Fonseka
Chairman	Director
10th February 2022
Colombo.
* The above figures are provisional and subject to audit.

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INTERIM

FINANCIAL

STATEMENTS

STATEMENT OF PROFIT OR LOSS - COMPANY

	For the nine months ended	For the quarter ended
		31.12.2020	Change		31.12.2020	Change
	31.12.2021	31.12.2021
	Rs. Mn.	Rs. Mn.	%	Rs. Mn.	Rs. Mn.	%
	Unaudited	Unaudited		Unaudited	Unaudited
Interest income	17,144	18,417	(6.9)	6,177	6,304	(2.0)
Less: Interest expense	8,024	10,215	(21.4)	2,746	3,223	(14.8)
Net interest income	9,120	8,202	11.2	3,431	3,081	11.4
Fee and commission income	1,324	1,284	3.1	500	446	12.1
Net gain/ (losses) on financial assets - FVTPL	34	124	(72.6)	4	74	(94.6)
Other operating income	463	16	2,793.8	4	2	100.0
Total operating income	10,941	9,626	13.7	3,939	3,603	9.3
Less: Impairment charges and other losses for loans and
receivables	1,607	2,940	(45.3)	(205)	1,539	(113.3)
Net operating income	9,334	6,686	39.6	4,144	2,064	100.8
Less:
Personnel expenses	2,819	2,221	26.9	987	791	24.8
Depreciation and Amortisation	611	599	2.0	204	198	3.0
Other operating expenses	1,532	1,259	21.7	599	449	33.4
Total operating expenses	4,962	4,079	21.6	1,790	1,438	24.5
Operating profit before Tax on financial services	4,372	2,607	67.7	2,354	626	276.0
Less: Taxes on financial services	925	630	46.8	433	172	151.7
Profit before income tax	3,447	1,977	74.4	1,921	454	323.1
Less: Income tax expense	1,080	699	54.5	602	160	276.3
Profit for the period	2,367	1,278	85.2	1,319	294	348.6

The above figures are provisional and subject to audit.

2

INTERIM

FINANCIAL

STATEMENTS

STATEMENT OF PROFIT OR LOSS - GROUP

	For the nine months ended	For the quarter ended
	31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020	Change
	Rs. Mn.	Rs. Mn.	%	Rs. Mn.	Rs. Mn.	%
	Unaudited	Unaudited		Unaudited	Unaudited
Interest income	18,556	19,748	(6.0)	6,637	6,767	(1.9)
Less: Interest expense	8,256	10,440	(20.9)	2,812	3,298	(14.7)
Net interest income	10,300	9,308	10.7	3,825	3,469	10.3
Net earned premiums	3,729	3,818	(2.3)	1,206	1,268	(4.9)
Fee and commission income	964	858	12.4	393	308	27.6
Net gain/ (losses) on financial assets - FVTPL	81	172	(52.9)	12	83	(85.5)
Other operating income	188	157	19.7	89	57	56.1
Total operating income	15,262	14,313	6.6	5,525	5,185	6.6
Less: Impairment charges and other losses for
loans and receivables	1,821	3,293	(44.7)	(226)	1,773	(112.7)
Net operating income	13,441	11,020	22.0	5,751	3,412	68.6
Less:
Personnel expenses	3,541	2,854	24.1	1,215	1,004	21.0
Depreciation and Amortisation	571	533	7.1	193	177	9.0
Benefits, claims and underwriting expenditure	2,220	1,945	14.1	938	677	38.6
Other operating expenses	1,848	1,545	19.6	727	566	28.4
Total operating expenses	8,180	6,877	18.9	3,073	2,424	26.8
Operating profit before Tax on financial
services	5,261	4,143	27.0	2,678	988	171.1
Less: Taxes on financial services	957	654	46.3	453	182	148.9
Profit before income tax	4,304	3,489	23.4	2,225	806	176.1
Less: Income tax expense	1,431	1,118	28.0	655	270	142.6
Profit for the period	2,873	2,371	21.2	1,570	536	192.9
Profit attributable to:
Equity holders of the parent	2,677	2,138	25.2	1,539	487	216.0
Non-controlling interest	196	233	(15.9)	31	49	(36.7)
Profit for the period	2,873	2,371	21.2	1,570	536	192.9
Basic/Diluted earnings per ordinary share (Rs.)	1.42	1.13	25.7	0.82	0.26	215.4

The above figures are provisional and subject to audit.

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