DFCC Bank - Results

Gaja · 1 DFCC Bank - Results Thu Feb 10, 2011 6:59 pm

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http://www.cse.lk/cmt/upload_report_file/371_1297338659088.12.2010.pdf

mono · 2 Re: DFCC Bank - Results Thu Feb 10, 2011 7:07 pm

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I want to know if the vardana results are in there as well.

econ · 3 Re: DFCC Bank - Results Thu Feb 10, 2011 7:30 pm

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operational profits has decreased for DFCC..

Fresher · 4 Re: DFCC Bank - Results Thu Feb 10, 2011 7:32 pm

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if not for the share disposal capital gain.......

mono · 5 Re: DFCC Bank - Results Thu Feb 10, 2011 7:36 pm

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hasn't net interest income gone up.

The other thing i want to know is whether these results are inclusive of the 'vardana' results. because by the end of the year they have to either shed or merge 'vardana'. so it'll be interesting to see if 'vardana' results are in here. because if they merge vardana. and the vardana results are not in here. this share will go up simply because of that.

Fresher · 6 Re: DFCC Bank - Results Thu Feb 10, 2011 7:53 pm

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vardhana is included i think

"The combined gross advances of the Bank and the commercial banking subsidiary, DFCC Vardhana Bank Ltd (DVB) increased to Rs 57,376 million, for a growth of 5.pc in the current period"

net interest income up marginally. this is mainly due to the decrease in interest expense on deposits. deposits haven't increased significantly either.

interest income on borrowings show a decline too.

tubal · 7 Re: DFCC Bank - Results Thu Feb 10, 2011 8:55 pm

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You have to admire them for being up front about the capital gains. Most companies make an operating loss, then sell some shares or property to cover that loss. Following by an obligatory press release saying how wonderful that company is and how profit has grown by 50%, 100% etc etc.

mono · 8 Re: DFCC Bank - Results Thu Feb 10, 2011 8:58 pm

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DFCC is sitting on a large pile of cash which will eventually be lent out once all these developmental type projects start getting into gear. so for me this is a long term winning stock.

salt · 9 DFCC is wonderful Thu Feb 10, 2011 10:53 pm

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Mono, this includes VDB results

We have look at the 3Q results to undertand the post COMB disposal secnario. Interestingly, their profits for the quater has gone up.
Its noteworthy without sahre of assiciate, group profits has gone up to Rs 630mn compared to Rs.566 mn in comparable quarter inclusive of COMB results. This is really impresive isn't it?

Item 3Q2011 3Q2010 g
PAT ( attributable to main) 630 mn 566 mn 11.2%
EPS 2.38 2.14 11.2%

Slstock · 10 Re: DFCC Bank - Results Fri Feb 11, 2011 4:27 am

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Gaja wrote:http://www.cse.lk/cmt/upload_report_file/371_1297338659088.12.2010.pdf

I would say DFCC is performing quite well and these result are quite good for blue chip large cap of it nature.

Sep Quarter EPS was 3.96/2 ( before bonus) = 1.98
Dec Quarter EPS is 2.38

Thats is 20% growth this quarter. Also COMB is not contributing as much to bottom line. So I would take this a definite improvement for a large cap as DFCC. Their growth won't jump hugely from quarter to quarter unlike a start up Finance company. It is well established.

DFCC is respected Blue Chip over the years which has taken care of it shareholders in the longer term. It has lot of Institution interest as you will see below

1 Bank of Ceylon No.2 A/c. 38,039,994 14.360
2 Sri Lanka Insurance Corporation Ltd-Life Fund 34,423,532 12.990
3 Hatton National Bank PLC A/c No.1 32,109,140 12.120
4 Mr M A Yaseen 22,841,700 8.620
5 Distilleries Company of Sri Lanka Ltd 17,042,856 6.430
6 Seafeld International Ltd 15,286,794 5.770
7 Employee Provident Fund 12,632,200 4.760
8 HSBC Intl NomLtd-BPSS Lux-Aberdeen Global Asia Pacific Equity Fund 12,216,146 4.610
9 Renuka City Hotels Ltd 6,926,870 2.610
10 HSBC Intl Nom Ltd-BPSS LDN-Aberdeen Asia Pacific Fund 6,750,000 2.540
11 HSBC Intl Nominees Ltd-BP2S London-Edinburg Dragon Trust PLC 4,728,800 1.780
12 Renuka Hotels Limited 4,048,360 1.520
13 HSBC Intl Nominees Ltd-SSBT- Aberdeen Institutional Commingled Funds, LLC 2,542,500 0.950
14 Cargo Boat Development Company Limited 2,048,200 0.770
15 Employee Trust Fund Board 2,001,666 0.750
16 HSBC Intl Nominees Ltd-BP2S London-Aberdeen Asia Smaller Companies Investment Trust 1,800,000 0.670
17 HSBC Intl Nominees Ltd-SSBTL-Aberdeen New Dawn Investment Trust XCC6 1,800,000 0.670
18 Mellon Bank N.A. - Florida Retirement Scheme 1,500,000 0.560
19 Sri Lanka Insurance Corporation Ltd- General Fund 1,243,800 0.460
20 National Savings Bank 1,092,124 0.410

Though it won;t give you quick cash like other shares, this is certainly a stable company to hold in your portfolio as a long term investment.

Slstock · 11 Re: DFCC Bank - Results Fri Feb 11, 2011 1:09 pm

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slstock wrote:

Gaja wrote:http://www.cse.lk/cmt/upload_report_file/371_1297338659088.12.2010.pdf

I would say DFCC is performing quite well and these result are quite good for blue chip large cap of it nature.

Sep Quarter EPS was 3.96/2 ( before bonus) = 1.98
Dec Quarter EPS is 2.38

Thats is 20% growth this quarter. Also COMB is not contributing as much to bottom line. So I would take this a definite improvement for a large cap as DFCC. Their growth won't jump hugely from quarter to quarter unlike a start up Finance company. It is well established.

DFCC is respected Blue Chip over the years which has taken care of it shareholders in the longer term. It has lot of Institution interest as you will see below

1 Bank of Ceylon No.2 A/c. 38,039,994 14.360
2 Sri Lanka Insurance Corporation Ltd-Life Fund 34,423,532 12.990
3 Hatton National Bank PLC A/c No.1 32,109,140 12.120
4 Mr M A Yaseen 22,841,700 8.620
5 Distilleries Company of Sri Lanka Ltd 17,042,856 6.430
6 Seafeld International Ltd 15,286,794 5.770
7 Employee Provident Fund 12,632,200 4.760
8 HSBC Intl NomLtd-BPSS Lux-Aberdeen Global Asia Pacific Equity Fund 12,216,146 4.610
9 Renuka City Hotels Ltd 6,926,870 2.610
10 HSBC Intl Nom Ltd-BPSS LDN-Aberdeen Asia Pacific Fund 6,750,000 2.540
11 HSBC Intl Nominees Ltd-BP2S London-Edinburg Dragon Trust PLC 4,728,800 1.780
12 Renuka Hotels Limited 4,048,360 1.520
13 HSBC Intl Nominees Ltd-SSBT- Aberdeen Institutional Commingled Funds, LLC 2,542,500 0.950
14 Cargo Boat Development Company Limited 2,048,200 0.770
15 Employee Trust Fund Board 2,001,666 0.750
16 HSBC Intl Nominees Ltd-BP2S London-Aberdeen Asia Smaller Companies Investment Trust 1,800,000 0.670
17 HSBC Intl Nominees Ltd-SSBTL-Aberdeen New Dawn Investment Trust XCC6 1,800,000 0.670
18 Mellon Bank N.A. - Florida Retirement Scheme 1,500,000 0.560
19 Sri Lanka Insurance Corporation Ltd- General Fund 1,243,800 0.460
20 National Savings Bank 1,092,124 0.410

Though it won;t give you quick cash like other shares, this is certainly a stable company to hold in your portfolio as a long term investment.

DFCC Crossing 106000@190.

Slstock · 12 Re: DFCC Bank - Results Sun Feb 13, 2011 3:02 am

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mono wrote:I want to know if the vardana results are in there as well.

Mono,

Yes Vardhana is there too.

" DFCC Vardhana Bank contributed Rs.157 million after-tax to the bottom line against Rs.129 million a year earlier with the increase largely attributable to the reversal of specific provision through recoveries."
Saw this is the Island new paper.

nathanfornash · 13 Re: DFCC Bank - Results Mon Mar 14, 2011 10:44 pm

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tubal wrote:You have to admire them for being up front about the capital gains. Most companies make an operating loss, then sell some shares or property to cover that loss. Following by an obligatory press release saying how wonderful that company is and how profit has grown by 50%, 100% etc etc.

That's true. Though it makes me wonder if the banking rally has ended for good. What is a slow growth industry in the rest of the world only saw the stock values skyrocket due to being undervalued all this time (skyrocket to the point of being way overvalued). I think they are settling now. However, DFCC, Sampath, COMB etc. have solid fundamentals and respected management backing them. I would say safe for the next few years at least.