The Group recorded a PBT of 12,508 million rupees and PAT of 8,659 million rupees for December 31, 2023. All the member entities of the Group made positive contributions to this performance. The Bank's Return on Equity improved to 12.19 per cent during the year ending December 31, 2023, from 5.04 per cent recorded for December 31, 2022. The Bank's Return on Assets before tax for the year ended December 31, 2023, is 1.82 per cent.
The Bank's total tax expense, which includes value-added tax and Social Security Contribution Levy financial services and income tax, is 6,927 million rupees for the year ended December 31, 2023. As a result, the Bank's tax expense as a percentage of operating profit for the year stood at 48.96 per cent.
Operating expenses for the year ended December 31, 2023 increased to 11,720 million rupees primarily due to the increase in inflation. However, the Bank has taken numerous cost control measures within the Bank, resulting in operating expenses being curtailed and managed at these levels. The Bank achieved a healthy 29.41 per cent cost/ income ratio in 2023.
Diese Geschichte stammt aus der March 2024-Ausgabe von Business Today Sri Lanka.
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Diese Geschichte stammt aus der March 2024-Ausgabe von Business Today Sri Lanka.
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NDB Posts Strong Profitability in the first half of 2024
National Development Bank continued to demonstrate strategic agility and resilience despite less-than-conducive operating conditions, as was reflected in its financial performance for the six months ended June 30, 2024. The Bank posted a pre-tax profit of 6.5 billion rupees for the period under review, an impressive growth of 58 percent, predominantly driven by healthy net interest income.
BOC Concluded 22.4 billion PBT in First Half of 2024
In the first half of 2024, Bank of Ceylon navigated the challenging landscape of the Sri Lankan economy with strategic foresight. Despite heightened competition and global economic uncertainties, BOC delivered a Profit Before Tax (PBT) of 22.4 billion rupees, a growth of 114 percent. This performance underscores the Bank's resilience and adaptability in an environment marked by fluctuating market conditions and challenges.
Celebrating 24 Years of Empire Teas: A Journey of Dedication and Excellence
Empire Teas celebrates its 24th anniversary with a remarkable journey that showcases the Company's shared vision, hard work, and unwavering dedication.
Tokyo Cement Group is off to an Optimistic start in the Financial Year 24/25
Tokyo Cement Group (Tokyo Cement) reported a turnover of 11,665 million rupees and a Profit After Tax (PAT) of 707 million rupees for the first quarter ended June 30, 2024.
The Current State and Future Prospects of Cryptocurrency
Cryptocurrency, a digital or virtual currency secured by cryptography, has rapidly evolved from a niche interest into a significant global financial instrument. With the emergence of thousands of different cryptocurrencies, the market has expanded and diversified, drawing attention from investors, governments, and technologists alike. As we stand at a pivotal moment in the development of cryptocurrency, this article explores the current state of the market, regulatory landscapes, technological advancements, and the challenges and future prospects that could shape the future of this dynamic industry.
SLT-MOBITEL reports Moderate Revenue Growth in the First Half of 2024
The company remains focused on leveraging its strategic initiatives to drive future growth and sustainability. With ongoing efforts to enhance operational efficiency and cost management, SLT-MOBITEL is well-positioned to navigate the evolving market landscape and deliver long-term value to its stakeholders.
DFCC Bank's Strong Financial Performance
DFCC Bank reported a Profit Before Tax (PBT) of 7,237 million rupees and a Profit After Tax (PAT) of 4,654 million rupees for June 30, 2024. The Group recorded a PBT of 8,342 million rupees and PAT of 5,739 million rupees for June 30, 2024 compared to 5,867 million rupees and 3,923 million rupees.
The National Savings Bank recorded a Profit before Tax 15 billion for the First Six Months of 2024
National Savings Bank had already surpassed the previous year's profit after Tax (PAT) by the second quarter of this year. The Bank registered a PBT of 15 billion for the six months of 2024, whereas the PAT for 2023 was 7.21 billion rupees.
Pan Asia Bank posts Steady Performance
Pan Asia Banking Corporation reported a steady performance reflecting improved macroeconomic conditions as the Bank reported its financial performance during the first half of 2024.
The Sinaloa Cartel: Rise, Fall, and the Enduring Influence of Mexico's Most Notorious Criminal Enterprise
In the annals of modern crime, few organizations have garnered as much infamy and fear as the Sinaloa Cartel. Founded in the mountainous regions of Sinaloa, Mexico, this cartel grew from humble beginnings to become one of the most powerful and violent drug trafficking organizations in the world. Its influence extends far beyond Mexico, affecting drug markets across the globe, from the United States to Europe, Asia, and even Africa. At the heart of this sprawling empire were two of the most elusive and feared men in the world: Joaquín \"El Chapo\" Guzmán and Ismael \"El Mayo\" Zambada. This comprehensive story charts the rise of the Sinaloa Cartel, the dramatic captures of its leaders, and the ongoing struggle for power within its ranks.
