Cargills Bank has minimized its losses by 58% to Rs 38 million (from Rs 89 million a year ago) in the quarter ended June 2016 according to interim results filed with the stock exchange.
Loans stood at Rs10 billion as at June 30, 2017 while deposits were Rs 6.9 billion. The group also increased its stake in Cargills Bank by making an investment of Rs 3.2 billion. At bank level interest income rose 177% to Rs322 million while interest expenses rose 167% to Rs129 million with net interest income up 184% to Rs 193 million.”
Loans stood at Rs10 billion as at June 30, 2017 while deposits were Rs 6.9 billion. The group also increased its stake in Cargills Bank by making an investment of Rs 3.2 billion. At bank level interest income rose 177% to Rs322 million while interest expenses rose 167% to Rs129 million with net interest income up 184% to Rs 193 million.”
www.dailynews.lk
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