First Capital Holdings PLC (The Group) the only listed investment bank in Sri Lanka, recorded its highest ever consolidated profit after tax of Rs 1,960 million for the year 2017/18, marking a milestone in the investment bank’s history.
The results show a significant growth compared to Rs 232 million in 2016/17. First Capital, with its impressive 35 year history, has total assets of Rs.35 billion and equity in excess of Rs. 3.5 billion.
The Group recorded a total comprehensive income of Rs 1,866 million for the year, a healthy increase from Rs. 238 million recorded in 2016/17. First Capital’s performance includes recognition of a deferred tax asset amounting to Rs. 897 million (2017/18) in accordance to LKAS 12. The Group’s primary dealer contributed Rs. 1,668 million profit after Tax (including recognition of a deferred tax asset of Rs. 845 million) for the year, bolstered by opportunities derived through secondary market activities, the business displayed an impressive performance.
The corporate finance division, mobilized Rs 24 billion through the structuring and placement of corporate debt securities.
Increasing its contribution to the Group’s profitability, the business reported a total fee income of Rs. 80 million for the year.
The wealth management division, increased its assets under management by Rs. 2.1 billion in 2017/18, demonstrating a positive impact to the Group’s bottom line, with a total fee income of Rs 38 million.
The Group’s stock brokering unit, recorded an income of Rs 78 million for the financial year.
The results show a significant growth compared to Rs 232 million in 2016/17. First Capital, with its impressive 35 year history, has total assets of Rs.35 billion and equity in excess of Rs. 3.5 billion.
The Group recorded a total comprehensive income of Rs 1,866 million for the year, a healthy increase from Rs. 238 million recorded in 2016/17. First Capital’s performance includes recognition of a deferred tax asset amounting to Rs. 897 million (2017/18) in accordance to LKAS 12. The Group’s primary dealer contributed Rs. 1,668 million profit after Tax (including recognition of a deferred tax asset of Rs. 845 million) for the year, bolstered by opportunities derived through secondary market activities, the business displayed an impressive performance.
The corporate finance division, mobilized Rs 24 billion through the structuring and placement of corporate debt securities.
Increasing its contribution to the Group’s profitability, the business reported a total fee income of Rs. 80 million for the year.
The wealth management division, increased its assets under management by Rs. 2.1 billion in 2017/18, demonstrating a positive impact to the Group’s bottom line, with a total fee income of Rs 38 million.
The Group’s stock brokering unit, recorded an income of Rs 78 million for the financial year.
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