The DFCC Bank’s non-audited Profit After Tax (PAT) for the half year ended September 30 2010 (current period) was Rs 6,110 million and the consolidated profit for the current period was Rs 3,892 million.The post tax profit of the Bank excluding the impact of the transactions in CBC shares was Rs 725 million in the current period compared to Rs 895 million in the previous period.
The main reason for this reduction is the significant increase in gross specific provision for bad and doubtful loans and leases made in the first quarter, the company said yesterday.
The second quarter post tax profit of the Bank was Rs 465 million in the current period, a 9 percent increase over Rs 427 million in the previous period.
The gross advances of the Bank as at September 30 2010 amounted to Rs 38,025 million, a reduction of 3.5 percent in the half-year ended September 30 2010.
The reduction is lower than 4.6 percent in the first quarter and is mainly due to prepayment of some large corporate loans.
The gross non-performing loans, advances and leases (NPA) ratio of the Bank was 10.5 percent reduced from 11.6 percent on June 30 2010 and the current trends are that many businesses see a turnaround from improved domestic demand for their products and services.
source - www.dailynews.lk
No comments:
Post a Comment