Pan Asia Banking Corporation PLC reflected resilience amidst a multitude of adversities emanating from challenging macro-economic conditions. The Bank’s financial performance for the period ended 30th September 2022 demonstrates judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality from the sharp increase in interest rates. During the period under […]
Nations Trust Bank continued
to demonstrate its resilience in performance during the year. The loan
portfolio increased by LKR 26 billion recording a 12% growth during the first
six months of the year despite the challenging business environment.
While continuing to provide
working capital loans
Pan Asia Bank records Impressive Performance amidst Challenges – Profit after Tax soars by 50% to post Rs. 1,356 Mn
August, 3, 2021
Pan Asia Banking Corporation PLC reported an impressive performance for the six-month period which ended 30 June to report a Pre-Tax Profit of Rs. 1,822 million and a Post-Tax Profit of Rs. 1,356 million with growth rates of 27% and 50% respectively, while demonstrating the resilience amidst challenging macro-economic conditions.
The bank’s performance was characterised by strength and resilience despite the heightened uncertainty due to the impact of the COVID-19 pandemic.
In a statement, the bank said against the backdrop of the COVID-19 impact on the Sri Lankan economy, the bank’s Operating Profits before VAT on Financial Services reached Rs. 2,245 million with an increase of 25%, reflecting the excellence in core banking performance and the success of cost containment measures evidenced by improvement in all key matrices, which now rank a
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