PAN ASIA BANKING CORPORATION PLC (PABC.N0000)

KavinduTM wrote:Sri Lanka’s central bank extends Pan Asia primary dealer ban for six months


Sri Lanka’s central bank said it will extend the ban on the primary dealership arm of Pan Asia Banking Corporation (PABC), to continue investigations into the so-called bondscam.

The six-month ban is extended with effect from February 15, and is enforced under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance.

The central bank said other operations at PABC will not be disrupted.

PABC’s primary dealership has been suspended since August 2017 for its transactions with Perpetual Treasuries Ltd during a securities fraud which caused losses to the state and the Employees’ Provident Fund, a superannuation fund of private sector worker savings.

Five forensic audits into securities fraud and other issues at the EPF have been completed, while one more is currently ongoing. (Colombo/Feb17/2020)

KavinduTM wrote:@Quibit Good job moving that topic here.

KavinduTM wrote:PABC 2019 4Q Interim Reports Released!!! 


Pan Asia Bank Records Best Ever Financial Results: Operating Profit for the Year Rs. 3,402 Mn and for the 2019 Q4 Rs. 1,431 Mn


"Pan Asia Banking Corporation PLC, “the Truly Sri Lankan Bank” ended 2019 Q4 with its best financial results ever, to report a Post Tax Profit of Rs.726.84 million during the final quarter"


PAT (Profit After Tax) growth is 58% YoY
Operating profit before all taxes for the quarter is 726 million, increased by 78%  
For Year 2019 Operating Profit before all taxes of Rs. 3,402.68 million, up by 31%
Post Tax Profit of Rs.1,750.56 million in 2019, Increased by 14%

 Return on Equity (2019) -  14.5%
 Return on Equity (2018)     -  13.73%

 Return on Assets (2019) -  1.52%
 Return on Assets (2018)      -  1.28%

 NAV (2019)    -   Rs.30.12
 NAV (2018)      -   Rs.25.41

 The Bank‟s gross loans and advances grew by 3.53% during 2019 to reach Rs. 117.50 Billion as at 31st December 2019.

The Bank‟s deposit base grew by Rs. 3.92 Bn during the year to reach Rs 122.54 Billion as at 31st December 2019. 

The Bank managed to improve CASA ratio by over 100 basis points in 2019.

EPS (2019)    -  Rs.3.96
EPS (2018)      -  Rs.3.48
   
P/E Ratio  -  3.03


Nothing to say. Excellent performance. I recommended this 1 month ago. Still it is possible to collect around 12. They are real winners.

Best share in the current market.

glad wrote:Take into consideration that a fine is due (re bond scam) when you make your decision

ColomboCSE wrote:
Yes this is good share But Kavindu not only reports company trust also importance .
hope you know this,
https://www.newsfirst.lk/2020/02/17/suspension-on-pabc-primary-dealer-unit-extended/

KavinduTM wrote:

ColomboCSE wrote:
Yes this is good share But Kavindu not only reports company trust also importance .
hope you know this,
https://www.newsfirst.lk/2020/02/17/suspension-on-pabc-primary-dealer-unit-extended/

Yeah i put that news on this topic too. Having that primary dealing ban issue since 2017 August. So , no special worries about it.

Now they are performing their best but market price is near to all time low. This will jump soon.

P/E is 3.03. Such an undervalued share (Not only considering the P/E)

There are few issues like they mentioned above. But they doesn't deserve this much low price. So 12/= will be a good entry.

soileconomy wrote:Your point is taken.Investors who opt for banking sector shares expects dividend.so definatly PABC ,ABL are bottom of the list if dividend calculations are taken.Current price is attractive for me for decent capita gain

Thushara Ayya wrote:Pan Asia Banking Corporation PLC, “the Truly Sri Lankan Bank” ended 2019 Q4 with its best financial results ever, to report a Post Tax Profit of Rs.726.84 million during the final quarter, recording an impressive growth of 58% demonstrating its resilience amidst challenging conditions. Meanwhile, the Bank’s operating profit before all taxes for the quarter increased by 78% reflecting strong growth in core banking activities and robust efforts in credit quality management.

https://www.lankabusinessonline.com/pan-asia-bank-records-its-best-ever-financial-results/

ColomboCSE wrote:@Kavindu, why don't you think this kind of good share why it's not trading? there is something rit?

KavinduTM wrote:

ColomboCSE wrote:@Kavindu, why don't you think this kind of good share why it's not trading? there is something rit?

I was recommending this since jan. But i told this is the best share after IR released. And since IR released, it is trading well.

Watch it run

GOSL wrote:
They are not comply with tier 1 capital requirement, they will go for a RI.

samaritan wrote:PABC - A BANK WITH A VALUE

The bank has recorded an impressive EPS of 5/83 for the Year 2019 with a NAV of 31/=. Foreign ownership of 20% did not witness any dip even at the height of Covid outbreak.

Trading at 11/= with the potential of substantial price appreciation even at a modest P/E of around 6 should fetch around 25/= (allowing for covid quarter drop in profit).

wallstreetguy wrote:

samaritan wrote:PABC - A BANK WITH A VALUE

The bank has recorded an impressive EPS of 5/83 for the Year 2019 with a NAV of 31/=. Foreign ownership of 20% did not witness any dip even at the height of Covid outbreak.

Trading at 11/= with the potential of substantial price appreciation even at a modest P/E of around 6 should fetch around 25/= (allowing for covid quarter drop in profit).

@samaritan It dipped to 6 during corona outbreak.

Are we seeing the exact charts?