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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, w ....
Jayantha S B Rangamuwa to lead Pan Asia bank as new Chairman; Aravinda Perera appointed Deputy Chairman island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
Unilever Sri Lanka expands uStore.lk footprint on Viber island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
Jayantha Rangamuwa to lead Pan Asia bank as new chairman; Aravinda Perera appointed deputy chairman island.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from island.lk Daily Mail and Mail on Sunday newspapers.
Seylan Bank made a steady start in 2021 by posting a Profit After Tax (PAT) of LKR 1bn in Q1 2021 amidst macro-economic challenges brought in by the COVID-19 pandemic. Interest income recorded a decline due to the lower interest rates and moderate book growth but net interest margin showed a marginal increase over the corresponding period in 2020 due to lower financing costs. Net Fee & Commission Income increased marginally to LKR 1.2bn from LKR 1.0bn, recording a YoY growth of 17.41% due to enhanced trade and guarantee volumes compared to the previous year. The Total Operating Income growth of 22.25% predominantly driven by net gains reported from de-recognition of financial assets which increased to LKR 185.2mn from LKR 69.6mn in 1Q 2020 and the other operating income increased by LKR 858.8Mn mainly due to increase in exchange income. On the flip side, trading activities reported a loss of LKR 611.4mn mainly due to market to market loss on derivatives which contracte ....