Abans Finance : QUARTERLY FINANCIAL STATEMENT AS OF 31-12-2021

ABANS FINANCE PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 DECEMBER 2021

ABANS FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

	09 Months			03 Months
	Ended 31 December			Ended 31 December
	2021	2020		Change		2021	2020		Change
	Rs.		Rs.		Rs.		Rs.
	Unaudited		Unaudited			Unaudited		Unaudited
Income	1,493,848,361		1,333,108,505		12%		544,916,811		510,345,138		6.8%
Interest Income	1,383,988,236	1,236,841,081		11.9%		499,304,588	468,891,383		6.5%
Interest Expenses	(404,925,162)	(518,328,721)		-21.9%		(134,469,269)	(152,832,326)		-12%
Net Interest Income	979,063,075		718,512,360		36.3%		364,835,319		316,059,058		15%
Fee and Commission Income	100,721,338	78,237,951		28.7%		39,647,173	29,619,496		34%
Fee and Commission Expenses	(15,859,360)	(10,149,263)		56.3%		(4,967,011)	(5,687,129)		-13%
Net Fee and Commission Income	84,861,979		68,088,689		24.6%		34,680,161		23,932,368		45%
Net Gain /(Loss) from Trading	240,000	320,000				240,000	-
Other Operating Income (net)	8,898,786		17,709,473		-49.8%		5,725,050		11,834,258		-52%
Total Operating Income	1,073,063,840	804,630,521		33.4%		405,480,531	351,825,684		15%
Credit Loss Expense on Financial Assets and Other Losses	(53,153,028)	(85,664,313)		-38.0%		20,638,586	(1,944,226)		-1162%
Net Operating Income					41.9%						22%
1,019,910,812	718,966,209		426,119,117	349,881,457
Operating Expenses
Personnel Costs	(236,935,147)	(189,863,077)		24.8%		(81,322,998)	(68,014,659)		20%
Depreciation & Amortization	(49,304,793)	(52,680,446)		-6.4%		(16,833,909)	(19,125,370)		-12%
Other Operating Expenses	(201,961,393)	(142,342,166)		41.9%		(62,568,581)	(48,999,649)		28%
Operating Profit before Value Added Tax on
FS & Levy	531,709,478	334,080,520		59.2%		265,393,629	213,741,779		24%
Taxes on Financial Services	(97,969,788)	(64,003,864)		53.1%		(48,070,043)	(34,499,448)		39%
Profit / (Loss) before Taxation from Operations	433,739,690	270,076,656		60.6%		217,323,586	179,242,331		21%
Income Tax (Expence)/Reversal	(127,614,093)	(81,818,772)		56.0%		(71,800,879)	(54,568,474)		32%
Profit/(Loss) for the Period	306,125,597	188,257,884		62.6%		145,522,707	124,673,857		17%
Other Comprehensive Income for the Period, Net of Tax	-	-			-	-
Total Comprehensive Income for the Period				62.6%						17%
306,125,597		188,257,884			145,522,707		124,673,857
Earnings Per Share		2.83					1.87
4.60			2.19

The figures presented above are provisional and subject to Audit.

11th February 2022

Colombo

Page 1

ABANS FINANCE PLC

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

			DECEMBER'2021		MARCH '2021
	Change		Rs.		Rs.
Assets			(Un Audited)		(Audited)
Cash and Bank Balances	-24.5%		170,729,573	226,092,543
Placements with Banks	24.2%		257,474,393	207,264,972
Securities Purchased under Repurchase Agreement	-28.8%		671,234,922	942,235,676
Money Market Investments			204,717,642	-
Financial Investments - Debt Securities			50,941,781	-
Loans and Advances	-18.7%		1,122,199,904	1,379,508,592
Lease Rentals Receivable & Stock Out on Hire	6.3%		6,408,435,209	6,027,133,949
Equity instruments at fair value through OCI	0.0%		80,400	80,400
Debt instruments at amortised cost	4022.7%		564,163,304	13,684,192
Other Financial Assets	-16.8%		83,106,497	99,842,557
Real Estate Stock	0.0%		31,066,726	31,066,726
Other Non Financial Assets	19.3%		58,812,603	49,289,851
Intangible Assets	-13.1%		29,429,678	33,866,422
Property, Plant & Equipment	4.3%		152,253,782	146,041,713
Right of use Asset	190.0%		181,219,349	62,490,872
Defered Tax Asset	-100.0%		-		9,815,140
Total Assets	8.2%		9,985,865,763	9,228,413,605
Liabilities
Due to Banks	-46.2%		204,572,360	380,234,236
Due to Customers	-1.4%		4,848,624,705	4,918,802,137
Debt Inst. Issued and Other Borrowed Funds	43.4%		1,736,031,328	1,210,632,535
Other Financial Liabilities	23.0%		659,029,859	535,607,003
Other Non Financial Liabilities	272.2%		59,092,147	15,877,158
Retirement Benefit Liability	21.7%		32,887,801	27,014,926
Current Tax Liabilities	-2.0%		144,363,743	147,245,448
Deferred Tax Liability			2,138,060		-
Total Liabilities	6.2%		7,686,740,003	7,235,413,443
Shareholders' Funds
Stated Capital	0.0%		1,121,412,955	1,121,412,955
Statutory Reserve	0.0%		191,107,439	191,107,439
Revaluation Reserve	0.0%		70,403,907	70,403,907
Retained Earnings	50.2%		916,201,458		610,075,861
Total Shareholders' Funds	15.4%		2,299,125,760	1,993,000,162
Total Liabilities and Shareholders' Funds	8.2%		9,985,865,763	9,228,413,605
Commitments and Contingencies
		267,976,945		319,321,141
Net Assets Per Share
		34.54		29.94

The figures presented above are provisional and subject to Audit.

These Financial Statements are in compliance with the requirements of the Companies Act No.07 of 2007

Sgd

BGP Samantha

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board by,

Sgd	Sgd
Cecil Perera	Hiran Embuldeniya
Director	Director
11th February 2022
Colombo
	Page 2

ABANS FINANCE PLC

STATEMENT OF CHANGES IN EQUITY

FOR THE QUARTER ENDED
			Retained		Revalaution		Statutory
	Stated Capital		Earnings		Reserve		Reserve		Total
	Rs.		Rs.				Rs.		Rs.
Balance as at 01 April 2020	1,121,412,955	382,235,796	-	133,669,249	1,637,318,000
Net Profit / (Loss) for the Period	-	188,257,884	-	-	188,257,884
Balance as at 31 December 2020	1,121,412,955		570,493,680		-		133,669,249		1,825,575,884
Balance as at 01 April 2021	1,121,412,955	610,075,861	70,403,907	191,107,440	1,993,000,163
Net Profit / (Loss) for the Period	-	306,125,597	-	-	306,125,597
Balances as at 31 December 2021	1,121,412,955	916,201,458	70,403,907	191,107,440	2,299,125,760

11th February 2022

Colombo

Page 3

ABANS FINANCE PLC

CASH FLOW STATEMENT

FOR THE PERIOD ENDED

	31st December 2021		31st December 2020
	Rs.		Rs.
Cash Flows From / (Used in) Operating Activities
Profit / (Loss) Before Income Tax Expense	433,739,690	270,076,656
Adjustments for
Depreciation	44,868,052	46,163,360
Amortisation of Intangible Assets	4,436,741	6,517,086
Allowance for impairment	53,153,028	85,664,313
Loss/(Profit) on Disposal of Property, Plant & Equipment	(3,990)	53,168
Provision/(reversal) for Defined Benefit Plans	6,750,000	4,050,000
Dividend Received	(240,000)	(320,000)
Interest Accrued on Borrowings	100,989,464	113,393,382
Operating Profit before Working Capital Changes	643,692,985	525,597,965
(Increase)/Decrease in Real Estate Stock	-	8,246,487
(Increase)/Decrease in Loans and Advances	255,311,472	495,947,525
(Increase)/Decrease in Lease Rentals Receivable & Stock out on hire	(418,886,467)	43,506,540
(Increase)/Decrease in Other Financial Assets	3,165,455	(6,935,064)
(Increase)/Decrease in Right-of-use Assets	(151,528,532)	(23,148,108)
(Increase)/Decrease in Other Non Financial Assets	(9,522,753)	10,327,077
Increase/(Decrease) in Amounts Due to Customers	(70,177,432)	(548,428,150)
Increase/(Decrease) in Other Financial Liabilities	123,422,855	5,436,629
Increase/(Decrease) in Other Non Financial Liabilities	43,214,989		(2,367,921)
Cash Generated from Operations	418,692,574	508,182,980
Retirement Benefit Liabilities Paid	(877,125)	(538,750)
Interest paid on Bank and Other Borrowings	(73,509,565)	(119,921,285)
Taxes Paid	(118,542,598)		(22,584,535)
Net Cash From/(Used in) Operating Activities	225,763,285	365,138,410
Cash Flows from / (Used in) Investing Activities
Acquisition of Property, Plant & Equipment	(18,281,077)	(3,506,634)
Acquisition of Intangible Assets	-	(12,523,001)
Proceeds from Sales of Property , Plant & Equipment	5,000	99,000
Sale/(Purchase) of Placement with banks	(52,165,090)	(767,018)
Disposal/(Acquisition) of Debt instruments at amortised cost	(49,325,318)	7,730,258
Investment in Money Market	(204,717,642)	-
Dividends Received	240,000		320,000
Net Cash Flows from/(Used in) Investing Activities	(324,244,127)	(8,647,395)
Cash Flows from / (Used in) Financing Activities
Repayment of Borrowings	(96,300,000)	(230,092,424)
Borrowings through Commercial Papers	371,329,364	-
Borrowings through Securitization	603,000,000	695,250,974
Repayment of Securitization	(476,500,000)	(487,035,428)
Cash Flow from Debt Instruments Issued and Other borrowings	-		2,440,810
Net Cash Flows from/(Used in) Financing Activities	401,529,364		(19,436,067)
Net Increase in Cash and Cash Equivalents	303,048,522	337,054,948
Cash and Cash Equivalents at the beginning of the year	1,225,146,193	540,071,245
Cash and Cash Equivalents at the end of the year	1,528,194,715		877,126,193

The figures presented above are provisional and subject to Audit.

11th February 2022

Colombo

Page 4