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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Banking sector profits set to increase

Banking sector profits set to increase

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1Banking sector profits set to increase Empty Banking sector profits set to increase Fri Jun 26, 2015 8:15 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The lag effect of revising deposit rates against the lending rate, exchange gains with rupee depreciation and reducing Non Performing Loans (NPL) will contribute positively to banking profits in 2015, a senior Asia Securities Analyst said.

Srimal Liyanage made these remarks addressing a wealth insight series organized by Asia Securities under the theme, "Banks;An evolving story of Elephants an Cheetahs, held in Colombo recently.

Banking is a well diversified sector in Sri Lanka.This sector is highly exposed to foreign exchange and interest rates, external trade and different sectors in the industry.

As the sector is promising for investors,Sri Lankan banking sector should make use of emerging opportunities to attract Japanese investors, those who are eagerly looking at investment opportunities in foreign markets due to negative interest rates prevailing in Japan. Liyanage said there is an increased risk in foreign currency borrowing with the Sri Lankan rupee depreciating and the USA is expected to revise rates during the first quarter of 2016.

He also remarked that in general, local banks are highly lacking in the asset management business when compared to its regional peers.

Efforts are also underway to improve the credit and debit card business with the application of advanced technologies.Even though it is a highly margin business,the associated risk is also high and may lead to an increase in impairments and write offs.
Courtesy: Daily News 26 June 2015

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