Citizens Development Business Finance PLC (CDB) posted a noteworthy 25% growth in Profit After Tax to notch Rs. 701 Mn as profit, as detailed by interim results released to the Colombo Stock Exchange.
The upward trajectory in performance continues as CDB’s Balance Sheet showcases growth of 13% standing at Rs. 38.01 Bn, the Loan Book detailing an incline of 14% displayed at Rs. 29.38 Bn and the Deposits & Savings portfolio growing by 10% to be notched at Rs. 27.07 Bn.
Net Assets is recorded at Rs. 4.30 Bn reflecting a growth of 20%. Revenue recorded a growth of 9%, commendable given the low interest backdrop experienced, while Net Interest Income also moved upwards by 23% to stand at Rs. 2.87 Bn.
Profit Before VAT on Financial Services, Crop Insurance Levy, Nation Building Tax and Income Tax surpassed a milestone of Rs. 1 Bn, showcased at a historic Rs. 1.04 Bn, reflecting a growth of 33%. Despite an increase of 48% in Income Tax, the Company showcased an impressive Rs. 701 Mn in Profit After Tax.
Earnings Per Share recorded a figure of Rs .12.92, while Net Asset Value Per Share is detailed at Rs. 79.22. Having always been a company that has remained well above par in its compliance culture, Capital Adequacy Ratios for both Tier I and Tier II remained well above the regulatory requirement of 5% and 10% respectively.
Tier I is now at 10.14%, while Tier II is at 12.92%. Liquidity Ratio is posted at 14.66%, compared to the required 10%, which once again is above the regulatory directive.
Non-Performing Loans (NPL) stood at 5.78% and 3.19% on gross and net basis respectively.
Aligned with the directives instituted within the Financial Sector Consolidation Programme, CDB acquired 86.26% stake in Laugfs Capital Ltd, a specialized leasing Company during the period under review.
www.dailynews.lk
The upward trajectory in performance continues as CDB’s Balance Sheet showcases growth of 13% standing at Rs. 38.01 Bn, the Loan Book detailing an incline of 14% displayed at Rs. 29.38 Bn and the Deposits & Savings portfolio growing by 10% to be notched at Rs. 27.07 Bn.
Net Assets is recorded at Rs. 4.30 Bn reflecting a growth of 20%. Revenue recorded a growth of 9%, commendable given the low interest backdrop experienced, while Net Interest Income also moved upwards by 23% to stand at Rs. 2.87 Bn.
Profit Before VAT on Financial Services, Crop Insurance Levy, Nation Building Tax and Income Tax surpassed a milestone of Rs. 1 Bn, showcased at a historic Rs. 1.04 Bn, reflecting a growth of 33%. Despite an increase of 48% in Income Tax, the Company showcased an impressive Rs. 701 Mn in Profit After Tax.
Earnings Per Share recorded a figure of Rs .12.92, while Net Asset Value Per Share is detailed at Rs. 79.22. Having always been a company that has remained well above par in its compliance culture, Capital Adequacy Ratios for both Tier I and Tier II remained well above the regulatory requirement of 5% and 10% respectively.
Tier I is now at 10.14%, while Tier II is at 12.92%. Liquidity Ratio is posted at 14.66%, compared to the required 10%, which once again is above the regulatory directive.
Non-Performing Loans (NPL) stood at 5.78% and 3.19% on gross and net basis respectively.
Aligned with the directives instituted within the Financial Sector Consolidation Programme, CDB acquired 86.26% stake in Laugfs Capital Ltd, a specialized leasing Company during the period under review.
www.dailynews.lk
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