Sri Lanka’s DFCC bank net up 43-pct in March

ECONOMYNEXT – Profits at Sri Lanka’s DFCC group rose 42 percent to 1.36 billion rupees in the March 2017 quarter from a year earlier, helped by higher interest income and sharply lower provisioning interim accounts show.

The group reported earnings of 5.13 rupees per share for the quarter.

Group interest income rose 45 percent to 7.2 billion rupees whole interest expenses kept pace up 46 percent to 4.6 billion rupees, but the bank also grew net interest income 44 percent to 2.59 billion rupees.

Fee income rose 12 percent to 342 billion rupees.

General and specific provisioning fell 63 percent to 167 million rupees.


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