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?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Government loan repayment
by shariff Today at 1:04 pm

» EDEN HOTEL LANKA PLC (EDEN.N0000)
by Bakkabwoi Today at 11:52 am

» What are the short term profit stocks you are planning to buy on this Monday? (Only honest ppl please)
by Hitazz Today at 11:49 am

» CITIZENS DEVELOPMENT BUSINESS FINANCE PLC(CDB.N0000)
by engineer Today at 11:41 am

» Sri Lanka's Foreign Reserves set to top US$ 7 Billion - Cabraal
by samaritan Today at 11:34 am

» Tea industry expected to contribute $ 200 million extra revenue to public coffers
by samaritan Today at 11:25 am

» RIL JOURNEY
by Karthick Today at 11:09 am

» LMF target price+++++
by GayanKK Today at 10:03 am

» ASIA SIYAKA COMMODITIES PLC (ASIY.N0000)
by RJ1010 Today at 8:45 am

» Tomorrow top gainers PALM & NIFL
by Tissa Yesterday at 9:39 pm

» Directors' Dealings today
by SAGA Yesterday at 8:55 pm

» Sri Lanka’s Forex Reserves to exceed US$7 Billion by end 2021
by D.G.Dayaratne Yesterday at 8:09 pm

» Sri Lanka to Repay $1 Billion Bond, Ending Default Threat
by SAGA Yesterday at 5:35 pm

» Top crossings today
by SAGA Yesterday at 3:13 pm

» CABO -- “ The Investment Company ” under Land & Building Sector
by ADVENTUS Yesterday at 12:51 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Rational Investor Yesterday at 12:43 pm

» PALM should be above Rs120
by SAGA Yesterday at 11:49 am

» SEMB the ASPH
by Big Bull Yesterday at 11:14 am

» VALLIBEL FINANCE PLC (VFIN.N0000)
by Value Pick Yesterday at 10:11 am

» RENUKA CAPITAL PLC . KZOO.N
by Wickyz Yesterday at 9:54 am

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™ » Commercial Bank first private bank in SL to cross Rs 10 bln. net profit

Commercial Bank first private bank in SL to cross Rs 10 bln. net profit

Go down  Message [Page 1 of 1]

K.Haputantri

K.Haputantri
Co-Admin
Commercial Bank first private bank in SL to cross Rs 10 bln. net profit
Thursday, 28 February 2013 10:35
Sunday Ties

The Commercial Bank of Ceylon PLC said this week it became the first private bank in Sri Lanka to surpass Rs 10 billion in net profit, following a solid all-round 2012 performance.

Profit before tax for the 12 months ending 31st December 2012 grew 30.26 per cent to Rs 14.311 billion, while profit after tax at Rs 10.072 billion reflected a growth of 25.15 per cent, the bank said in a statement.

Commercial Bank Chairman Mr. Dinesh Weerakkody said the bank’s financial results reflect the significant role it now plays in the lives of millions of people and the national economy, as well as its commitment to the concept of ‘Banking on You.’

Commenting on the 2012 performance, Mr. Weerakkody said: “The bank's stellar
performance this year amply demonstrates the 'value' of long standing relationships that the bank has built over the years.”

Commercial Bank’s Managing Director and CEO Mr. Ravi Dias noted that: “Our aim has always been to focus on our fundamentals – strengthening the balance sheet, ensuring stability and maintaining a strong current and savings account base, which at current levels is probably the best in the industry.”

The bank’s total income for 2012 improved by 38.88 per cent to Rs 63.167 billion, with interest Income increasing 37.72 per cent to Rs 51.838 billion and non-interest income composed of foreign exchange and other income, growing by 47.62 per cent to Rs 9.729 billion.

With the bank’s deposits portfolio growing by Rs 64.262 billion or 20.18 per cent, interest expenses grew by 52.31 per cent in the review period to Rs 29.918 billion.

The growth in non-interest income was attributable principally to increased foreign exchange income. A high volume of Treasury operations and translation gains generated foreign exchange income of Rs 4.752 billion, an increase of 104.69 per cent.

Total Loans and Advances of the Bank improved by 17.67 per cent over the 12 months to Rs 338.843 billion at 31st December 2012.
The bank’s total deposits stood at Rs 382.723 billion at 31st December 2012.

Total Assets of the bank crossed the Rs 500 billion milestone during the year to Rs 510.75 billion, reflecting a growth of 15.79 per cent. Commercial Bank is the first private bank in Sri Lanka to exceed Rs 500 billion in assets.

Back to top  Message [Page 1 of 1]

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