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Citizens Development Business Finance PLC (CDB) has reported a profit-after-tax of Rs. 630 million for the 2011/12 financial year, reflecting a growth of 19 percent from a year earlier.
Core business bottom-line results for the year and Q4 excluding mark to market gains showed remarkable growth figures of 158 percent and 540 percent respectively. The top line grew by 29 percent surpassing the Rs. 2.8 billion mark. CDB’s net interest income gained 53 percent to Rs.1,248 million during the period under review. Earnings per share (EPS) are recorded at an impressive Rs.13.10, the company said in a statement.
The balance sheet saw growth of 61.88 percent, primarily fueled by a loan book growth of 68.66 percent to reach Rs.13.2 billion, while the deposit portfolio increased by 52.08 percent to stand at Rs. 11.39 billion.
Total assets are detailed at Rs. 16.5 billion as at the year end. The year end Capital Adequacy Ratio now stands well above the required regulatory requirement of 10 percent, showcased at 17.03 percent, while capital funds recorded strength, at a comfortable level of Rs. 2.29 billion. Asset quality remained strong, recording a gross NPL ratio of 1.67 percent and a net NPL ratio of 0.37 percent, far outperforming industry average and thus, being benchmarked among best in the industry. Statutory liquidity ratio at 13.30 percent is well above the regulatory requirement of 10 percent and augmented with 89 percent of balance sheet assets in regular interest and cash flow generating assets including the asset backed loan portfolio. CDB enjoys an impressively strong liquidity position. The net asset value per share is at Rs. 44.15 as at the year end.
The CDB Board of Directors has proposed a first and final dividend of Rs. 2.50/= per share, comprising cash and script, subject to required approval by the shareholders and the CSE.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=53224
Core business bottom-line results for the year and Q4 excluding mark to market gains showed remarkable growth figures of 158 percent and 540 percent respectively. The top line grew by 29 percent surpassing the Rs. 2.8 billion mark. CDB’s net interest income gained 53 percent to Rs.1,248 million during the period under review. Earnings per share (EPS) are recorded at an impressive Rs.13.10, the company said in a statement.
The balance sheet saw growth of 61.88 percent, primarily fueled by a loan book growth of 68.66 percent to reach Rs.13.2 billion, while the deposit portfolio increased by 52.08 percent to stand at Rs. 11.39 billion.
Total assets are detailed at Rs. 16.5 billion as at the year end. The year end Capital Adequacy Ratio now stands well above the required regulatory requirement of 10 percent, showcased at 17.03 percent, while capital funds recorded strength, at a comfortable level of Rs. 2.29 billion. Asset quality remained strong, recording a gross NPL ratio of 1.67 percent and a net NPL ratio of 0.37 percent, far outperforming industry average and thus, being benchmarked among best in the industry. Statutory liquidity ratio at 13.30 percent is well above the regulatory requirement of 10 percent and augmented with 89 percent of balance sheet assets in regular interest and cash flow generating assets including the asset backed loan portfolio. CDB enjoys an impressively strong liquidity position. The net asset value per share is at Rs. 44.15 as at the year end.
The CDB Board of Directors has proposed a first and final dividend of Rs. 2.50/= per share, comprising cash and script, subject to required approval by the shareholders and the CSE.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=53224
