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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lankan bank looks to expand to Vietnam - Commercial Bank

Sri Lankan bank looks to expand to Vietnam - Commercial Bank

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka’s Commercial Bank is looking to expand operations to Vietnam, announced its Chairman Dinesh Weerakkody.

“Constantly encouraging results emanating from our Bangladeshi operations have prompted us to look for similar opportunities in other Asian countries such as Myanmar”, Weerakkody stated in the Bank’s 2012 annual report.

He says, Commercial Bank, which is a listed firm in the Colombo Stock Exchange will concentrate on leveraging rapidly evolving opportunities in the region to grow the Bank’s overseas business.

Meanwhile, its Managing Director, Ravi Dias says, it is planning to continue to expand its branch network both in Sri Lanka and Bangladesh.

The Bank which has 222 delivery points in Sri Lanka and 17 in Bangladesh has earned a net profit of Rs.10.1 billion, during the year 2012, a 28% growth over the previous year.

“The Bank was able to maintain a quality loans and advances portfolio as evident from our NPL ratio of 3.37% which is one of the lowest in the industry”, added Weerakkody.

Commercial Bank which has declared a total dividend of Rs. 6.50 per share during the year 2012, has seen its total assets surpassing Rs. 500 billion, during the reference year.
http://www.news360.lk/business-finance/news-banking-sri-lanka-06-03-2013-commercial-bank-24792

K.Haputantri

K.Haputantri
Co-Admin
The price of shares do not reflect its results. ?Is it due to lack of retail interest plus non- manipulation of this share or foreign manipulation to keep it low.

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