FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Pan Asia Bank posts record 1h profits Vote_lcap68%Pan Asia Bank posts record 1h profits Vote_rcap 68% [ 178 ]
Pan Asia Bank posts record 1h profits Vote_lcap18%Pan Asia Bank posts record 1h profits Vote_rcap 18% [ 47 ]
Pan Asia Bank posts record 1h profits Vote_lcap13%Pan Asia Bank posts record 1h profits Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Pan Asia Bank posts record 1h profits

Pan Asia Bank posts record 1h profits

2 posters

Go down  Message [Page 1 of 1]

1Pan Asia Bank posts record 1h profits Empty Pan Asia Bank posts record 1h profits Mon Aug 03, 2015 9:09 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Pan Asia has posted record after tax profit of Rs.450.7 million for the first half of 2015 fiscal year (1H’15), recording an increase of 156% from the corresponding period last year.

This resulted in an earnings per share of Rs.3.08 risen from Rs.1.20 a year ago.
This performance has amply been supported by the bank’s second quarter (2Q’15) net profits which grew by as much 204% to Rs. 273.8 million.

The bank has been able to record this exceptional performance due to strong growth in its loan book, improved margins and the closer tab on costs coupled with operational efficiencies achieved during the period.

During the 1H’15 the bank has grown its loans and receivables by 13.7% to Rs.72 billion while expanding its Net Interest Margin (NIM) to 4.49% from 3.82% six months ago, which could be considered as a significant feat.

Pan Asia Bank closed the 2014 financial year expanding its loan book by 34%, among the highest credit growth by a licensed commercial bank in the country.
Quite notably, the bank has doubled its return to its shareholders, the Return on Equity (ROE) from 9.81% to 18.38% within a very short span of six months. This is a commendable achievement at a time when industry interest margins are under pressure.

Commenting on the 1H’15 financial performance, the bank’s Director and CEO, Dimantha Seneviratne said this performance had been possible due to the bank’s well balanced, sustainable growth in all areas of Retail, SME and Corporate banking coupled with improved efficiency and commitment from all staff.

“This is the highest profit after tax Pan Asia Bank has ever recorded in its history for the bank’s first half. In fact, we have achieved the whole of net profit we posted for 2014 financial year (i.e.Rs.415.2 million) in just six months. We have achieved this despite making adequate provisions for loans and other losses.” Seneviratne added. 
Courtesy: Daily News 3 August 2015

2Pan Asia Bank posts record 1h profits Empty Re: Pan Asia Bank posts record 1h profits Mon Aug 03, 2015 10:07 am

bandara 123


Manager - Equity Analytics
Manager - Equity Analytics

PABC  can reach Rs30 levels today with the improved profits reported for June Q 2015.

This is a very attractive banking share which is trading at low price levels.

Involvement of DP  in PABC gives more value to the share in longer run.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum