Financial Times

DFCC Bank profits show gains in 6-mth period

DFCC Bank said this week that its 6-month post-tax profits for the period to September 2009 rose to Rs 895.3 million from Rs 780.9 million. In a statement to the Colombo Stock Exchange, the bank said group post-tax profits rose to Rs 1.3 billion against Rs 974 million in the earlier, 2008 corresponding period.

Bank income was reported at Rs 4.68 billion, down from Rs 5 billion while group income rose to Rs 6.3 billion from Rs 5.6 billion. Non performing loans (NPL) and advances were reported at Rs 6.2 billion versus Rs 5.1 billion in terms of the bank while group NPL and advances totalled Rs 8.5 billion against Rs 6.6 billion in the 2008 6-month period.

The top 10 major shareholders are Bank of Ceylon (14.5 %), HNB (12.13 %), SLIC (11 %), M.A. Yaseen (8.5 %), under investigation, Raj Rajaratnam’s Galleon Diversified Fund Ltd (8.22 %) and Distilleries (6.4%) among others.

 
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