October 25, 2014 7:55 PM ET

Banks

Company Overview of DFCC Vardhana Bank PLC

Company Overview

DFCC Vardhana Bank PLC provides commercial, personal, and retail-banking services. The company’s services include current accounts, savings accounts, bonus savings accounts, fixed deposits, junior savings accounts, gift certificates, foreign currency accounts, and trade related finances. It also operates banking units at post offices that provide commercial and personal financial services, including savings and other deposit products, cheque deposits, foreign currency encashment and deposits, demand drafts, cashiers orders, acceptance of loan applications, junior accounts openings and acceptance of deposits, and outward remittances services. DFCC Vardhana Bank PLC was founded in 1995 and is ...

73, W A D Ramanayake Mawatha

Colombo,  02

Sri Lanka

Founded in 1995

Phone:

94 11 237 1371

Fax:

94 11 237 1372

Key Executives for DFCC Vardhana Bank PLC

Chief Executive Officer and Director
Age: 54
Head of Customer Relations
Head of International
Head of Treasury
Secretary and Director
Age: 52
Compensation as of Fiscal Year 2014.

DFCC Vardhana Bank PLC Key Developments

DFCC Vardhana Bank PLC Announces Executive Changes

DFCC Vardhana Bank PLC announced that at the Board meeting held on 26th September 2014, decided that Mr. Cedric Royle Jansz will succeed the current Chairman, Mr. J M S Brito, when his term of office as the Chairman of the Board DFCC Vardhana Bank ends on 11th October 2014. The retirement of Mr. Brito is under the section 3 (2) of the Banking Act Direction No 11 of 2007 which limits the maximum period of service of a director of a licensed commercial bank to nine years. Mr. C R Jansz is presently the Chairman of DFCC Bank and serves on the Board of DFCC Vardhana Bank PLC from 9th June 2014.

DFCC Vardhana Bank PLC, Board Meeting, Sep 26, 2014

DFCC Vardhana Bank PLC, Board Meeting, Sep 26, 2014. Agenda: To consider the change of Chairman.

DFCC Vardhana Bank PLC Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

DFCC Vardhana Bank PLC announced unaudited consolidated earnings results for the six months ended June 30, 2014. For the six months, the company reported net interest income of LKR 1,543,541,000 against LKR 1,592,349,000 a year ago. Net fee and commission income was LKR 371,029,000 against LKR 316,599,000 a year ago. Total operating income was LKR 2,143,637,000 against LKR 1,970,530,000 a year ago. Net operating income was LKR 1,762,853,000 against LKR 1,582,512,000 a year ago. Operating profit before income tax was LKR 509,535,000 against LKR 475,584,000 a year ago. Profit for the period was LKR 344,213,000 against LKR 324,955,000 a year ago. Basic earnings per share were LKR 1.21 against LKR 1.47 a year ago. Net cash used in operating activities was LKR 4,644,257,000 against LKR 640,836,000 a year ago. Purchase of property, equipment and intangible assets was LKR 109,181,000 against LKR 101,802,000 a year ago.

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