Pan Asia Banking Corporation PLC Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Impairments
For the quarter, the company reported interest income was LKR 1,626,209,000 against LKR 2,018,817,000 a year ago. Net interest income was LKR 188,895,000 against LKR 688,054,000 a year ago. Total operating income was LKR 499,567,000 against LKR 932,646,000 a year ago. Net operating income was LKR 438,510,000 against LKR 864,375,000 a year ago. Operating loss after value added tax was LKR 136,154,000 against operating profit after value added tax of LKR 298,436,000 a year ago. Loss before tax was LKR 136,154,000 against profit of LKR 298,436,000 a year ago. Loss for the period was LKR 76,028,000 or LKR 1.03 per basic and diluted share against profit for the period of LKR 299,081,000 or LKR 4.07 per basic and diluted share a year ago.
For the quarter, the company reported impairments for loans and other losses of individual impairment of LKR 99,715,000, collective impairment of LKR 199,137,000 and others of LKR 160,479,000 against impairments for loans and other losses of individual impairment of LKR 45,563,000, collective impairment of LKR 22,708,000 a year ago.