Nov 17, 2014 (LBO) Sri Lanka National Development Bank and its group companies posted a growth of 49 percent in Profit attributable to shareholders, recording 3,276 million rupees for the nine months ended 30 September 2014 the company said in a media release.
The growth is due to the results of the business volumes, effective management of portfolio quality and concerted cost management efforts carried out across the Group, keeping in line with the Bank’s focused business strategy.
The Group profit after tax for the nine months ended was 3,309 million rupees which was a 50 percent growth over the comparative period, while profit before income tax was 4,422 million rupees, which was a 34 percent increase, the bank said.
The Group total operating income increased by 16 percent to 9,673 million rupees.
Net interest up from 15 percent to 5,781 million rupees.
Impairment charges for loans and other losses was 324 million rupees for the nine months ended 30 September 2014 as compared to a provision charge of 226 million rupees in 2013.
The group operating expenses for the nine months increased 7 percent to 4,305 million rupees.
The loans and receivables grew by 34 percent to 165 billion rupees over the prior period, and by 20 percent over the year-end, the bank said. The bank’s customer deposits reached 151 billion up 27 percent over the prior period and grew by 16 percent as compared with 31 December 2013.
The group earnings per share (EPS) for the nine months ended 30 September 2014 was 27.26 rupees with a 65 percent increase over 2013. Return on Shareholder Funds (ROE) was 16.57 rupees and has increased by 54 percent from 2013.
The share price of the Bank closed at 257.50 rupees on 30 September 2014 with a market capitalization of 42.5 billion rupees. The resultant Price Earning (PE) Ratio was 9.5 (times).
The growth is due to the results of the business volumes, effective management of portfolio quality and concerted cost management efforts carried out across the Group, keeping in line with the Bank’s focused business strategy.
The Group profit after tax for the nine months ended was 3,309 million rupees which was a 50 percent growth over the comparative period, while profit before income tax was 4,422 million rupees, which was a 34 percent increase, the bank said.
The Group total operating income increased by 16 percent to 9,673 million rupees.
Net interest up from 15 percent to 5,781 million rupees.
Impairment charges for loans and other losses was 324 million rupees for the nine months ended 30 September 2014 as compared to a provision charge of 226 million rupees in 2013.
The group operating expenses for the nine months increased 7 percent to 4,305 million rupees.
The loans and receivables grew by 34 percent to 165 billion rupees over the prior period, and by 20 percent over the year-end, the bank said. The bank’s customer deposits reached 151 billion up 27 percent over the prior period and grew by 16 percent as compared with 31 December 2013.
The group earnings per share (EPS) for the nine months ended 30 September 2014 was 27.26 rupees with a 65 percent increase over 2013. Return on Shareholder Funds (ROE) was 16.57 rupees and has increased by 54 percent from 2013.
The share price of the Bank closed at 257.50 rupees on 30 September 2014 with a market capitalization of 42.5 billion rupees. The resultant Price Earning (PE) Ratio was 9.5 (times).
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