Financial Highlights
Annual Report 2023
Synopsis of the Financial Statements of the Bank and Group
for the year ended 31 December 2023
Table I
Key Financial Data
For the six-month period ended | Bank | Group | ||||
---|---|---|---|---|---|---|
Dec 2023 | Dec 2022 | Change | Dec 2023 | Dec 2022 | Change | |
Rs. Mn | Rs. Mn | % | Rs. Mn | Rs. Mn | % | |
Total Income | 542,187 | 513,149 | 5.7 | 551,867 | 520,891 | 5.9 |
Profit before taxes on financial services | 53,006 | 42,290 | 25.3 | 54,695 | 42,372 | 29.1 |
Profit before taxation | 40,342 | 30,977 | 30.2 | 41,773 | 31,053 | 34.5 |
Provision/ (Reversal) for taxation | 13,649 | (996) | (1,470.7) | 14,155 | (797) | (1,877.2) |
Profit after taxation | 26,694 | 31,972 | (16.5) | 27,618 | 31,849 | (13.3) |
As at | Dec 2023 | Dec 2022 | Change | Dec 2023 | Dec 2022 | Change |
---|---|---|---|---|---|---|
Rs. Mn | Rs. Mn | % | Rs. Mn | Rs. Mn | % | |
Total assets | 4,411,748 | 4,336,460 | 1.7 | 4,467,760 | 4,390,769 | 1.8 |
Shareholders fund (Capital & Reserves) | 251,715 | 254,184 | (1.0) | 271,458 | 271,474 | (0.0) |
Deposits | 3,882,232 | 3,334,774 | 16.4 | 3,909,581 | 3,358,198 | 16.4 |
Net loans and advances | 2,209,062 | 2,325,594 | (5.0) | 2,240,611 | 2,355,978 | (4.9) |
- BoC Group financials reported a pre-tax profit of Rs. 41,773 million for the year ended 31 December 2023 against Rs. 31,053 million compared to the year 2022. It is an increase of Rs. 10,720 million or 34.5 percent.
- The Bank’s pre-tax profits stood at Rs. 40,342 million for the year under review while it was Rs. 30,977 million in 2022, an increase of Rs. 9,365 million or 30.2 percent.
- In terms of post-tax profits, Bank’s results as at 31 December 2023 amounted to Rs. 26,694 million compared to Rs. 31,972 million reported in 2022, which reflects a decrease of Rs 5,278 million or 16.5 percent.
Table II
Key Financial Indicators
Key Financial Data | Bank | Group | ||||
---|---|---|---|---|---|---|
Dec 2023 | Dec 2022 | Change | Dec 2023 | Dec 2022 | Change | |
% | % | % | % | % | % | |
Return on average equity (ROE) | 10.6 | 14.1 | (3.5) | 10.1 | 13.1 | (2.9) |
Return on average assets (ROA) | 0.9 | 0.8 | 0.2 | 0.9 | 0.8 | 0.2 |
Interest margin | 2.1 | 3.1 | (1.0) | 2.2 | 3.2 | (1.0) |
Capital Adequacy Ratio Tier 1 & 2 Capital (minimum required 14.00%) | 15.8 | 15.4 | 0.5 | 16.2 | 15.3 | 0.9 |
Liquid assets ratio (Domestic) (minimum required 20%) | 42.8 | 21.2 | 21.6 |