DFCC Bank PLC Reports Unaudited Group and Bank Earnings Results for the First Quarter Ended March 31, 2021
May 04, 2021 at 05:04 am EDT
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DFCC Bank PLC reported unaudited group and bank earnings results for the first quarter ended March 31, 2021. For the period, on group basis, the company reported net interest income of LKR 2,685,638,000 compared to LKR 2,993,012,000 a year ago. Net operating income was LKR 4,521,362,000 compared to LKR 3,500,237,000 a year ago. Profit for the period was LKR 1,582,925,000 compared to LKR 1,013,707,000 a year ago. Basic/Diluted earnings per ordinary share was LKR 5.02 compared to LKR 3.33 a year ago.
For the period, on bank basis, the company reported net interest income of LKR 2,678,698,000 compared to LKR 2,983,822,000 a year ago. Net operating income was LKR 4,378,362,000 compared to LKR 3,353,950,000 a year ago. Profit for the period was LKR 1,478,552,000 compared to LKR 925,448,000 a year ago. Basic/Diluted earnings per ordinary share was LKR 4.80 compared to LKR 3.04 a year ago.
DFCC Bank PLC is a Sri Lanka-based financial solutions provider. The Company provides a range of financial services, such as accepting deposits, corporate credit and retail banking, personal financial services, project financing, investment banking, foreign currency operations, trade finance and dealing in government securities and treasury-related products. The Company operates through four segments: Corporate Banking, Retail Banking, Treasury and Other. Corporate Banking segment is involved in loans, deposits and other transactions and balances with corporate customers. Retail Banking segment is involved in loans, deposits and other transactions and balances with retail customers. Treasury segment is involved in funding and centralised risk management activities through borrowings, issues of debt securities, use of derivatives for risk management purposes and investing in liquid assets, such as short-term placements and corporate and government debt securities.