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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka PABC net down 24-pct

Sri Lanka PABC net down 24-pct

+2
Gaja
Redbulls
6 posters

Go down  Message [Page 1 of 1]

1Sri Lanka PABC net down 24-pct Empty Sri Lanka PABC net down 24-pct Thu Jul 26, 2012 6:39 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
July 26, 2012 (LBO) - Sri Lanka's PABC Bank has reported profits of 159 million rupees in the June 2012 down 24 percent from a year earlier, amid a steep rise interest expenses, interim accounts showed.

The firm reported earnings of 54 cents for the quarter. For the six months to June the bank reported earnings 1.21 rupees per share on profits of 356 million rupees which fell 12 percent from a year earlier.

In the June quarter interest income rose 57 percent to 1.63 billion rupees but interest expenses rose at a faster 98 percent to 1,033 million rupees though the bank grew net interest income 16 percent to 601 million rupees.

PABC Bank's performing loans rose 18 percent to 39.0 billion rupees from December 2011.

Sri Lanka's Central Bank has set a limit of 18 percent for loan growth funded by rupees for this year.

Non-performing loans were flat at 2.6 billion rupees. The bank said its gross non-performing loans had improved to 3.3 percent in June 2012 from 4.52 percent a year earlier.

It provided 27 million for loan losses, against a provision reversal a year earlier.

Fee income rose 90 percent to 253 million rupees with foreign exchange income doubling 110 percent to 96 million rupees and unspecified other income rose 80 percent to 157 million rupees.

Non-interest expenses also rose 49 percent to 533 million rupees.

"The overhead increase is mainly due to the branch expansion and related activities that were undertaken during the last 18 months," PABC said in a statement.

"This strategic expansion drive assists the bank in establishing its presence in most parts of the country with 71 branches island wide."

It had opened 23 branches in 2011 and 7 in 2012.

The bank had grown deposits 17 percent to 41.4 billion rupees.

PABC's net assets edged up 2 percent to 3.69 billion rupees and gross assets grew 12 percent to 52.4 billion rupees.
http://lbo.lk/fullstory.php?nid=1758468205

2Sri Lanka PABC net down 24-pct Empty Re: Sri Lanka PABC net down 24-pct Thu Jul 26, 2012 6:40 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.cse.lk/cmt/upload_cse_announcements/5401343301420_.pdf

3Sri Lanka PABC net down 24-pct Empty Re: Sri Lanka PABC net down 24-pct Fri Jul 27, 2012 12:44 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/5401343301420_.pdf

Did I see WDNH disposing and purchasing at the same price 17 same day Wink !

4Sri Lanka PABC net down 24-pct Empty Re: Sri Lanka PABC net down 24-pct Fri Jul 27, 2012 9:19 am

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock wrote:
@Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/5401343301420_.pdf

Did I see WDNH disposing and purchasing at the same price 17 same day Wink !

Can any experts explain what would be the reason a director called WDNH Perera sell and buy 1,000,000 shares on same day?

5Sri Lanka PABC net down 24-pct Empty Re: Sri Lanka PABC net down 24-pct Fri Jul 27, 2012 5:03 pm

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@aj wrote:
@slstock wrote:
@Gaja wrote:http://www.cse.lk/cmt/upload_cse_announcements/5401343301420_.pdf

Did I see WDNH disposing and purchasing at the same price 17 same day Wink !

Can any experts explain what would be the reason a director called WDNH Perera sell and buy 1,000,000 shares on same day?

Rishan did it with the support of his wife......WDNH Perera may be.....I do not know. Wink

6Sri Lanka PABC net down 24-pct Empty Re: Sri Lanka PABC net down 24-pct Sat Jul 28, 2012 1:21 pm

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
i thought now according to new regulations a director can't sell his company shares within 6 months from the purchase date.

am i right?

7Sri Lanka PABC net down 24-pct Empty Re: Sri Lanka PABC net down 24-pct Sat Jul 28, 2012 1:37 pm

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@chamith wrote:i thought now according to new regulations a director can't sell his company shares within 6 months from the purchase date.

am i right?

But he can sell what he have already had.

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