Seylan Bank recorded an impressive performance with Profit before Income Tax reaching Rs 3,490 Million for the 9 months ended 30th September 2014. Profits after Tax reached a record Rs 2,253 Million a 47% increase compared to the Rs 1,536 Million reported in the corresponding 9 month period.
The quarterly PAT figure (Q-3) of Rs. 1,041 Million was an improvement of 95% compared with Rs 534 Million reported in corresponding 3 months of last year.
Net Interest income increased from Rs 6.79 Billion to Rs 8.22 Billion a 21% increase for the 9 months ended 30th September 2014. Net fee and commission income increased by 7% from Rs 1,542 Million to Rs 1,648 Million with the bank showing a continuation of the solid growth trend recorded in the past few years.
During 2014, the Bank grew its deposit base from Rs 167.4 Billion to Rs 174.8 Billion. The growth was predominately achieved through the mobilisation of current and savings deposits, which enabled the Bank's low cost deposit base to be increased from 33% in December 2013 to over 36% as at end September 2014. The Bank's Net Advance portfolio increased from Rs 136.5 Billion to Rs 139.4 Billion during the 9 months under review.
Despite the decline in gold prices and its impact on the pawning base, the Bank was able to improve its asset quality with a significant reduction in its Gross NPA (net of IIS) from 10.58% in December 2013 to a single digit of 9.85%as at end September 2014.
www.island.lk
The quarterly PAT figure (Q-3) of Rs. 1,041 Million was an improvement of 95% compared with Rs 534 Million reported in corresponding 3 months of last year.
Net Interest income increased from Rs 6.79 Billion to Rs 8.22 Billion a 21% increase for the 9 months ended 30th September 2014. Net fee and commission income increased by 7% from Rs 1,542 Million to Rs 1,648 Million with the bank showing a continuation of the solid growth trend recorded in the past few years.
During 2014, the Bank grew its deposit base from Rs 167.4 Billion to Rs 174.8 Billion. The growth was predominately achieved through the mobilisation of current and savings deposits, which enabled the Bank's low cost deposit base to be increased from 33% in December 2013 to over 36% as at end September 2014. The Bank's Net Advance portfolio increased from Rs 136.5 Billion to Rs 139.4 Billion during the 9 months under review.
Despite the decline in gold prices and its impact on the pawning base, the Bank was able to improve its asset quality with a significant reduction in its Gross NPA (net of IIS) from 10.58% in December 2013 to a single digit of 9.85%as at end September 2014.
www.island.lk
No comments:
Post a Comment