Sunday February 28, 2021
ECONOMYNEXT – Earnings at Sri Lanka’s Seylan Financial institution group fell 28 % from a yr in the past to 841 million rupees within the December 2020 quarter amid decrease web curiosity revenue and better mortgage loss provisions, interim accounts present.
Seylan reported earnings of 1.63 rupees per share for the quarter. Within the yr to December, it reported earnings of 5.88 rupees per share on whole income of three.0 billion rupees, down 3.7 billion from a yr earlier.
Seylan Financial institution final closed at 40 cents down at 49.60 rupees a share on Thursday.
Charge revenue fell 3.5 % to 1.1 billion rupees.
Within the December quarter, web curiosity revenue fell 4.7 % to 4.7 billion rupees, with curiosity revenue falling 13 % to 11.9 billion rupees and curiosity bills fell 18 % to 7.2 billion rupees.
Buyer loans grew 3.83 % or 393 billion through the 12-months to December 2020.
The financial institution made 1.5 billion rupees in mortgage loss provisions through the quarter up from 735 final yr.
The non-performing mortgage ratio grew to six.43 by December from 5.76 % a yr earlier.
Investments in debt devices grew 53 billion rupees to December 2020 through the yr.
Buyer deposits grew 9.87 % to 440 billion rupees.
Gross property grew 8.03 % to 558 billion rupees.
Internet property grew 9.26 % to 52 billion rupees.
Seylan Financial institution’s Tier 1 capital grew to 11.70 % in December from 11.49 % a yr earlier. (Colombo/Feb28/2021)