Sri Lanka’s third largest private lender by assets reported earnings of Rs.4.46 a share or Rs.5.1 billion in total earnings for the January-March quarter, up 90.7 percent from Rs.2.34 a share or Rs.2.7 billion in earnings in the year ago period.
The bank provided Rs.1.6 billion for possible losses from loan defaults and other financial assets during the quarter under review compared to Rs.5.2 billion provided in the same period a year ago, as uncertainties mounted on borrowers’ capacity to service their loans when the economy was shut down for nearly two months, last year.
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