Bank of Ceylon (BoC), has raised the bar by recording the highest ever profit of Rs.25.3 billion, made by a single commercial entity in the country.
This is a 25% growth over the previous year. Post tax profit at Rs. 16.1 billion recorded 19% growth over end 2014.
The BoC Group recorded Rs. 25.5 billion pre-tax profit achieving a 19% increase over the previous year while post tax profit was Rs. 16.2 billion with a 13% increase over 2014. The Group companies contribute 3% to the Group's total assets.
Interest income the main source of income of the Bank increased by 6% during 2015 while interest expense decreased by 4% resulting in a favorable net interest income with 23% growth. General Manager D.M. Gunasekera said: "Our winning team comprises of an experienced, qualified, seasoned and dynamic team, who provide the Bank with a competitive edge in the industry. We are operating in a highly techno driven rapidly changing environment. "The Bank's contribution to the Government by way of dividend and taxes amounted to Rs. 18 billion.
"As the giant in the banking industry we have been contributing to the country's development since our inception. We have funded many Government projects by delivering our fullest support to uplift our county in all aspects. Apart from providing finance base to deliver the Government mandates, BoC plays a major role in financial inclusion in the society by way of micro finance developments,financial entrepreneur development programmes for Small and Medium Enterprises (SMEs), school savings units, through the 625 branch network in the island,"Chairman Ronald Perera said.
www.dailynews.lk
This is a 25% growth over the previous year. Post tax profit at Rs. 16.1 billion recorded 19% growth over end 2014.
The BoC Group recorded Rs. 25.5 billion pre-tax profit achieving a 19% increase over the previous year while post tax profit was Rs. 16.2 billion with a 13% increase over 2014. The Group companies contribute 3% to the Group's total assets.
Interest income the main source of income of the Bank increased by 6% during 2015 while interest expense decreased by 4% resulting in a favorable net interest income with 23% growth. General Manager D.M. Gunasekera said: "Our winning team comprises of an experienced, qualified, seasoned and dynamic team, who provide the Bank with a competitive edge in the industry. We are operating in a highly techno driven rapidly changing environment. "The Bank's contribution to the Government by way of dividend and taxes amounted to Rs. 18 billion.
"As the giant in the banking industry we have been contributing to the country's development since our inception. We have funded many Government projects by delivering our fullest support to uplift our county in all aspects. Apart from providing finance base to deliver the Government mandates, BoC plays a major role in financial inclusion in the society by way of micro finance developments,financial entrepreneur development programmes for Small and Medium Enterprises (SMEs), school savings units, through the 625 branch network in the island,"Chairman Ronald Perera said.
www.dailynews.lk
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