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- DFCC Vardhana Bank (DVB) ended 2014 on an excellent note by recording an impressive profit after tax of Rs.1 billion and the bank’s total assets were valued at Rs. 100 billion. The bank recorded a profit after tax of Rs. 1.12 billion for the year ending in 2014, which is an 80% growth over 2013.
DVB’s achievement becomes more significant as 2014 was a difficult year due to challenging market conditions that prevailed throughout the year. The bank’s net interest income grew by 7% to a record Rs.3.3 billion as at December 31, 2014. DVB did extremely well in fee income generation recording a 25% increase. Treasury operations alsorecorded a significant growth of 206% spurred by the two main business lines FX and fixed income securities.he bank also recorded a significant growth of 26% in total assets to surpass the Rs. 100 billion mark in 2014 compared to Rs.79.8 billion in 2013. The overall deposit base which stood at Rs.70.7 billion as at end of December 2014 grew in value by Rs.5.6 billion during the year, an increase of 9% compared to that of December 2013. DVB is known as an active player in the commercial banking sphere in the country and is renowned for its innovative customer solutions. The bank is set for a new phase of growth following the financial results of 2014.
DVB’s achievement becomes more significant as 2014 was a difficult year due to challenging market conditions that prevailed throughout the year. The bank’s net interest income grew by 7% to a record Rs.3.3 billion as at December 31, 2014. DVB did extremely well in fee income generation recording a 25% increase. Treasury operations alsorecorded a significant growth of 206% spurred by the two main business lines FX and fixed income securities.he bank also recorded a significant growth of 26% in total assets to surpass the Rs. 100 billion mark in 2014 compared to Rs.79.8 billion in 2013. The overall deposit base which stood at Rs.70.7 billion as at end of December 2014 grew in value by Rs.5.6 billion during the year, an increase of 9% compared to that of December 2013. DVB is known as an active player in the commercial banking sphere in the country and is renowned for its innovative customer solutions. The bank is set for a new phase of growth following the financial results of 2014.
