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
Founded in 1995
DFCC Vardhana Bank PLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Nov 14 13
DFCC Vardhana Bank PLC announced earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported income of LKR 2,474,440,000 against LKR 1,844,959,000 a year ago. Net interest income was LKR 768,029,000 against LKR 536,151,000 a year ago. Total operating income was LKR 1,045,910,000 against LKR 684,863,000 a year ago. Net operating income was LKR 769,160,000 against LKR 639,229,000 a year ago. Operating profit before income tax was LKR 203,594,000 against LKR 153,923,000 a year ago. Profit for the period was LKR 93,532,000 or LKR 0.42 basic per share against LKR 79,625,000 or LKR 0.36 basic per share a year ago.
For the nine months, the company reported income of LKR 7,312,634,000 against LKR 5,371,655,000 a year ago. Net interest income was LKR 2,360,378,000 against LKR 1,864,191,000 a year ago. Total operating income was LKR 3,016,440,000 against LKR 2,381,396,000 a year ago. Net operating income was LKR 2,351,672,000 against LKR 1,959,491,000 a year ago. Operating profit before income tax was LKR 679,179,000 against LKR 579,565,000 a year ago. Profit for the period was LKR 418,487,000 or LKR 1.89 basic per share against LKR 382,964,000 or LKR 1.73 basic per share a year ago. Net cash used in operating activities was LKR 2,088,381,000 against net cash generated from operating activities of LKR 4,730,161,000 a year ago. Purchase of property, equipment and intangible assets was LKR 160,926,000 against LKR 117,279,000 a year ago. Return on assets after tax as on September 30, 2013 was 0.84% against 1.16% as at September 30, 2012. Return on equity as on September 30, 2013 was 10.50% against 12.59% as at September 30, 2012.
For the quarter, the company reported impairment for loans and other losses of LKR 276,749,000 against LKR 45,635,000 a year ago.