CASA Archives - Ceylon Independent

Union Bank recorded an impressive Profit Before Tax and VAT of Rs. . 246 million, reporting a 47 percent growth YoY, thus setting the pace for its next growth phase powered by a new three-year growth strategy which includes its subsidiaries. A significant growth in core banking operations contributed to the robust performance of the Bank during the period under review, while prudent cost and revenue management drove growth in profits over the corresponding period in 2017. In a clear reflection of a strong core banking performance over the last 12 months, the Bank's loan portfolio grew by 16% YoY while the total deposits grew by 21% YoY. A focused management of yields saw Net Interest Income (NII) of the Bank record Rs. 853 million during the quarter ended 31st March, which translated...

DFCC Bank continued to demonstrate positive momentum across businesses in 2017 as a rapidly growing commercial bank completing its second year after the amalgamation. Despite a backdrop of higher taxes, volatile interest rates, tight margins and intensifying competition, the Bank closed the financial year ended 31 December 2017 with a profit before tax of Rs. 5,792 million a growth of 31 percent and profit after tax of Rs. 4,415 million a growth of 34 percent over the year ended 31 December 2016. The Bank's net interest income rose by 27 percent, to Rs. 11,343 million improving the net interest margin from 3.3 percent in 2016 to 3.6 percent in 2017. In addition, the Bank's net fee and commission income grew by 22 percent to Rs. 1,591 million, while it recorded a growth in most of its...

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Union Bank records 37% growth in PAT in 1Q18

DFCC Bank profit after tax up by 34 percent in FY 2017