Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» How about ASIY and RAL
by TuTanKaman Today at 6:48 pm

» MARKET CRASH - GUARANTEED
by ranferdi Today at 2:37 pm

» China's Xi offers fresh $295 million grant to Sri Lanka
by DS Wijesinghe Today at 12:52 pm

» Daily Foreign Transactions
by ruwan326 Today at 7:17 am

» EAST looks promising
by prabath Yesterday at 7:15 pm

» CTCE share holders get 1000 per share
by prabath Yesterday at 7:14 pm

» What companies to consider?
by mark Yesterday at 4:25 pm

» How to pick winning stocks by analysis not through predictions and gossip news-1
by ruwan326 Sat Jul 21, 2018 9:12 pm

» six-rules-to-follow-when-picking-stocks
by ruwan326 Sat Jul 21, 2018 8:59 pm

» BPPL going to be a gem
by ruwan326 Fri Jul 20, 2018 8:23 pm

» Sri Lankan shares close at 3-week high; Keells leads
by Miss-Sangeetha Fri Jul 20, 2018 7:40 pm

» expo.. @4.00
by Sameerad Fri Jul 20, 2018 12:26 pm

» ASI And The Future of Investors
by ruwan326 Fri Jul 20, 2018 9:45 am

» Keells Foods net profit grows 34-pct in June quarter, revenues up
by DS Wijesinghe Thu Jul 19, 2018 10:26 pm

» LAST CHANCE TO BUY ALHP BELOW 1.30
by ruwan326 Thu Jul 19, 2018 9:05 pm

» LDEV GEARING UP
by ruwan326 Thu Jul 19, 2018 8:56 pm

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Seylan Bank records Rs 1.05 bn PAT in 1Q 2018

Seylan Bank records Rs 1.05 bn PAT in 1Q 2018

Go down  Message [Page 1 of 1]

1 Seylan Bank records Rs 1.05 bn PAT in 1Q 2018 on Fri May 04, 2018 7:43 am

Sstar

avatar
Vice President - Equity Analytics
Vice President - Equity Analytics
Seylan Bank made a steady start in 2018 by posting a profit after tax of Rs. 1,053 million in Q1 despite less than ideal market conditions.

Net interest income increased by 17.21% as the volume growth outperformed the impact arising from the narrowing of NIMs. Net fee and commission income witnessed a growth of 14.61% to reach Rs 995 million in 1Q 2018 as compared to Rs. 868 million for the comparative period. Initiatives put in place to harness fee generating business across various customer and market segments such as card related income, trade finance related fee income and fees from guarantees, remittances is progressing rapidly as reflected by the increases shown in fee based income.

Other operating income comprising of gains from trading, gains from financial investments, gains on foreign exchange and other income were reported as a net gain of Rs 366 million compared to net gain of Rs 238 million in 1Q 2017.

Impairment charges for loans and other losses for the period reached Rs 542 million as compared to a charge of Rs 346 million in Q1 2017. Individual impairment charges of Rs 380 million represent provisions specific credit exposures.Total Expenses recorded an increase of 10.46% from 2,705 million in the 1Q of the previous year to Rs. 2,988 million during the period under review. Expenses growth was witnessed by investments made in employees, IT and infrastructure, upgrading and refurbishment of branches etc.

The bank continued to focus on widening the roll-out of lean initiatives, workflow methods and automation across the bank in its pursuit towards rationalising expenditure on key controllable cost lines and inculcating a culture of working smarter across all the functions by the employees.

Loans and advances portfolio of the bank recorded a marginal growth of 3.01% to 289,302 million during the 1Q 2018 amidst rising interest rates. The growth in credit was driven primarily by term loans and overdrafts.

The overall deposit base recorded a marginal growth of 1.24% to 310,904 million by 1Q 2018 and a shift from low cost CASA to term deposits was noted which is partly due to increase in interest rates. As a result Bank’s CASA ratio (current and savings) stood 31.25% and total time deposits increased from 68.80% by end of year 2017 to 68.75% as at March 31, 2018 of the total deposits base.

As a result of the noteworthy financial performance during first quarter, Bank’s Earning per share (EPS) grew by 21.57% to Rs.2.88. The Bank recorded a Return on Average Assets (ROAA) of 1.52% and Return on Equity (ROE) of 12.25%.

The Bank’s Net Asset Value per share as at March 31 2018 was Rs.94.34 (Group Rs.98.63).

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum