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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » COMMERCIAL BANK OF CEYLON PLC (COMB.N0000)

COMMERCIAL BANK OF CEYLON PLC (COMB.N0000)

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41COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) - Page 3 Empty COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) Mon May 27, 2019 4:23 pm

Teller


Moderator
Moderator
Profits at Commercial Bank of Ceylon, Sri Lanka's largest private bank by assets, fell 23 percent to 3.129 billion rupees in the March 2019 quarter from a year earlier, as credit contracted, bad loans grew and a new tax hit profits, interim accounts showed.

The group reported earnings of 3.05 rupees per share for the quarter down 25 percent.

Interest income grew 13.8 percent to 31.97 billion rupees interest in the quarter ended March 2019 from a year earlier, expense grew at a faster 16.07 percent to 19.95 billion rupees and net interest income grew at a slower 10.4 percent to 12.1 billion rupees.

Loans and advances contracted to 861 billion rupees from 867 billion rupees from three months earlier.

Cash balances grew 15.4 percent to 51.8 billion rupees and interbank loans grew 41 percent to 28.1 billion rupees.

Chief executive S Renganathan said the bank followed a "more cautious approach in expanding its advances portfolio" amid "challenging economic conditions."

"Despite the decline in advances, I am happy to say that the Bank has continued to support the SME sector, as reflected in the satisfactory growth of this portfolio during the quarter," he said.

Loan losses grew 68 percent to 1.89 billion rupees in the quarter from 1.126 billion rupees a year earlier.

At bank level the gross non performing loan ratio rose to 4.14 percent from 3.24 percent.

Total capital adequacy fell to 15.1 percent from 15.6 percent, but is higher than the minimum 14 percent.

Sri Lanka has seen monetary instability due to the operation of a soft-pegged exchange regime with real effective exchange rate targeting, which led to a collapse of the currency, killing an economic recovery, which was worsened by a political crisis in the last quarter of 2018.

Fee and commission income grew 2.5 percent 2.93 billion rupees.

Financial sector value added tax, nation building tax and a new debt repayment tax rose 39 percent to 1.78 billion rupees.

The bank grew deposits 3.14 percent during the quarter to 1,025 billion rupees, as credit contracted.

When a country recovers from a balance of payments trouble, deposits at bank grow faster than loans, while during a currency crisis, loans will growth with printed money from term reserve repurchase injections from the central bank or its outright treasury bill purchases.

The when banks or other savers buy Treasury bills previously held by the central bank, the currency strengthens, imports and economic activity falls and a balance of payments surplus is generated.

Total assets grew 1.78 percent to 1,221 billion rupees during the quarter. Net assets grew 0.73 percent to 121.4 billion rupees

42COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) - Page 3 Empty what happend to COMB Sat Oct 12, 2019 10:40 am

Udakara


Stock Trader
Will it up or down.pls put ur valuable opinion here

ddrperera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Udakara wrote:Will it up or down.pls put ur valuable opinion here
1.foreign party bulk selling.
2.MTD  Walkers court case 
3.NPL

kumarweerarathne


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I shifted to SAMP & HNB , Comb seems can not hold da ground.. but long term its a good choice

dhaneenja


Equity Analytic
Equity Analytic
@ddrperera wrote:
@Udakara wrote:Will it up or down.pls put ur valuable opinion here
1.foreign party bulk selling.
2.MTD  Walkers court case 
3.NPL

3.NPL ( මෙ කියන්නේ මොකක්ද? )

sandamal


Equity Analytic
Equity Analytic
@dhaneenja wrote:
@ddrperera wrote:
@Udakara wrote:Will it up or down.pls put ur valuable opinion here
1.foreign party bulk selling.
2.MTD  Walkers court case 
3.NPL

3.NPL ( මෙ කියන්නේ මොකක්ද? )

from google


nonperforming loan (NPL) is a sum of borrowed money upon which the debtor has not made the scheduled payments for a specified period.



මං හිතන්නෙ බොල් ණය  silent

Teller

Teller
Moderator
Moderator
Combank future is not brilliant.


_________________




Teller said is said..

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics
Agree  .i think  combank is too big to grow fast. that is good for high netwoth investors when there is crash and get out when recover since there is good liquidity.

Arrowrisk

Arrowrisk
Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:Combank future is not brilliant.

Will it affects the customers of Combank....? Shocked Shocked

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics
icici and axis banks closed their operation in Sri Lanka and CBSL aproved it. anybody know the reason behind this  ???

bhanu


Manager - Equity Analytics
Manager - Equity Analytics
And who  will grab their business? Will it be comb

Teller

Teller
Moderator
Moderator
There are 2 fund managers aloso decided to exit and close their operations


_________________




Teller said is said..

Arrowrisk

Arrowrisk
Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:There are 2 fund managers aloso decided to exit and close their operations

Who are they..??

ResearchMan


Senior Equity Analytic
Senior Equity Analytic
1.      A 2 percent Nation Building Tax on domestic goods and services would also be removed.
2.      A debt tax on financial institutions and debt service tax had also been removed.

sandamal


Equity Analytic
Equity Analytic
@ResearchMan wrote:1.      A 2 percent Nation Building Tax on domestic goods and services would also be removed.
2.      A debt tax on financial institutions and debt service tax had also been removed.

Are these positive signs for COMB improvement ? 

will it be a good decision to hold COMB long term purchased @98

56COMMERCIAL BANK OF CEYLON PLC (COMB.N0000) - Page 3 Empty buy commercial at 90 and sell it to 125 Fri Feb 07, 2020 3:44 pm

Srilankan Psyco

Srilankan Psyco
Equity Analytic
Equity Analytic
Please do it.

Teller

Teller
Moderator
Moderator
I believe it should be 84


_________________




Teller said is said..

Invest-Wise

Invest-Wise
Manager - Equity Analytics
Manager - Equity Analytics
The 4the largest foreign shareholder is selling and has sold 10 million. SLIC bought at 92. They still have I think 40 million more. I doubt it will come to 84 levels. A dew years back Templeton fund sold similar and it went down to 100/-. Then after the selling shot to 180/- gradually. For me COM bank is worth around these levels but even better lower!!! They will post very good results plus dividend too. Can't go wrong with this for medium to long term.

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Yeah i strongly disagree for that Teller's statement of it will come down to 84/=.
Yes it is worthy @ current levels. I think it will pass 100 levels soon. However i m having enough bank shares xD.

Yeah maybe same will happen again. Once that selling over, it will run.

ddrperera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@KavinduTM wrote:Yeah i strongly disagree for that Teller's statement of it will come down to 84/=.
Yes it is worthy @ current levels. I think it will pass 100 levels soon. However i m having enough bank shares xD.

Yeah maybe same will happen again. Once that selling over, it will run.
Right issue fear is there for COMB... Very Happy Very Happy Very Happy

ColomboCSE


Manager - Equity Analytics
Manager - Equity Analytics
@KavinduTM i'm also not good fan of com bank now(2019 to future)
just check page 16 Q1 to Q3 then you can see where combank is going...
old days i earn around 40% to 50% from combank (and i exit  2014/OCT)

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@ddrperera wrote:
@KavinduTM wrote:Yeah i strongly disagree for that Teller's statement of it will come down to 84/=.
Yes it is worthy @ current levels. I think it will pass 100 levels soon. However i m having enough bank shares xD.

Yeah maybe same will happen again. Once that selling over, it will run.
Right issue fear is there for COMB... Very Happy Very Happy Very Happy
Ah will they go for a right issue?

Teller

Teller
Moderator
Moderator
@kavidu, dont love shares because they are not our girl or boy friends. Time to time take and leave it.


_________________




Teller said is said..

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Teller wrote:@kavidu, dont love shares because they are not our girl or boy friends. Time to time take and leave it.
Hahah i do love shares not lifetime but short term xD

However we got this 92 price level in 2019 after 2009. Now again.
Seems there will be a decrease of earnings in 2019 compared to 2017 and 2018. But this will be a good investment. Will perform better in 2020. New decisions such as tax cut are positive for them isn't it?

Don't you think COMB future is bright?

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@ColomboCSE wrote:@KavinduTM i'm also not good fan of com bank now(2019 to future)
just check page 16 Q1 to Q3 then you can see where combank is going...
old days i earn around 40% to 50% from combank (and i exit  2014/OCT)

Why do you think future won't be good?

"just check page 16 Q1 to Q3 then you can see where combank is going..."
Is it about Cash flows from operating activities decrease?

"old days i earn around 40% to 50% from combank (and i exit  2014/OCT)"
Nice but price is even more cheaper now than 2014.

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