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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Banking sector earnings as at 30.06.2011

Banking sector earnings as at 30.06.2011

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1Banking sector earnings as at 30.06.2011 Empty Banking sector earnings as at 30.06.2011 Fri Aug 12, 2011 5:30 pm

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics
friends, what do you think. COMB is outstanding. HNB also good, NTB, PABC done well. But what has happen to DFCC??

Most of the right issues also done. any way I can smell of banking sector rally

RockStock


Manager - Equity Analytics
Manager - Equity Analytics
Last year DFCC sold part of their COMB stake to deliver such a high dividend 0f 7/- and 3/-.

They still have massive amount of COMB shares, around 50 million in their investment portfolio.

So this quarterly report reflects true EPS of DFCC

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
I am more interested with the com bank now, they able to show considerable profit for 6 months, with the rights & debenture they get the funds needed for the expansion!

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
friends i think its time for us to discuss more about the banking sector? what do you all feel!

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
I am interested in HNB and COMB now. ....SAMP can regain earlier positions. If the market reflects corporate earnings gains can be sustained, financials continue improve...... No reason to stagnate. Smile Smile

MPI was up more than the ASI ....banks can perform well. Smile

lbnnirmal

lbnnirmal
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Hay why COMB sudden price drop although it has great profits last quarter. will it be come to normal price ?? Is it due to right issue ??

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
@lbnnirmal wrote:Hay why COMB sudden price drop although it has great profits last quarter. will it be come to normal price ?? Is it due to right issue ??

It is due to rights issue.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@lbnnirmal wrote:Hay why COMB sudden price drop although it has great profits last quarter. will it be come to normal price ?? Is it due to right issue ??

If u can invest with the idea of long term its a good share!

If not interested in investing in this share no issue, note down the today's prices then adjust for future rights, splits dividends etc and see the value in 3 years and compare it with the general return you will get an idea about it!

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.lbo.lk/fullstory.php?nid=281312452

Sri Lanka Combank June net up 63-pct
Aug 12, 2011 (LBO) - Sri Lanka's Commercial Bank of Ceylon's net profits in the June 2011 quarter rose 63.8 percent to 1.97 billion rupees, amid strong credit growth and containment of interest expenses, interim accounts show.

The group reported earnings of 5.17 rupees per share for the quarter. For the six months it reported earnings of 10.57 rupees.
Profits were also helped by a lower rate of tax, the bank said. A so-called financial value added tax fell 41 percent to 373 million rupees and income tax fell 11 percent to 824 million rupees.

Group interest income rose 9.1 percent 9.1 billion rupees but interest expense grew at a slower 1.8 percent to 4.6 billion rupees allowing net interest income to grow 17.7 percent to 4.49 billion rupees.

The bank said in a statement that it took "timely action to re-price deposits."

Group performing loans grew 7 percent to 228 billion rupees from December.

Managing director Amitha Gooneratne said the loan growth reflects a resurgent business sector.

Fee income rose 11.4 percent to 1.49 billion rupees.
Loan loss provisions were 19.3 million rupees with a 346 million rupee provision off-set by recoveries. Non-performing loans grew 3.1 percent to 15.4 billion rupees. The banks said its NPL ratio was 5.05 percent and 2.75 percent after provisions.

Chief financial officer Nandika Buddhipala said Tier I regulatory capital was 11.63 percent and Tier II 12.82 percent by June and the ratios would improve after fresh capital was raised from a rights issue.

Group gross assets rose 20.9 percent to 397 billion rupees and net assets rose 9 percent to 36.5 billion rupees from December.

windi5

windi5
Moderator
Moderator
Last date of Rights trading is on 15th. if some one buy rights at 30,definitely it will be a good investment. 30+180

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
What about the other banks...

windi5

windi5
Moderator
Moderator
except MBSL and UBC, all other banks have done well. COMB and HNB are exceptional.

sajeethk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
But i think dividend payout wise DFCC is good may be can see the rally soon. cos it came from above 200/- current level.

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