Abans Finance PLC profit declines to 55Mn From 78 Mn , after being downgraded to associate status -
Worse ever performance by a Company with Equity base of Rs 1.1 Bn.
-Non performing assets increased from 534 Mn to 805 Mn.
-Interest margin declined from 13.5 % to 11.2 %.
-Return on average assets declined from 3.4 % to 2.0%.
-Return on average Equity declined from 20.5 % to 8.0%.
CENTRAL BANK FINDS MAJOR MANIPULATIONS AND NON COMPLIANCE WITH DIRECTIVES TO REPORT FALSE PROFITS/
COO requested to quit after Non performing assets increased from 534 Mn to 805 Mn.