DFCC Group records Rs. 1.6 bn PAT

1 min read

DFCC Bank PLC, recorded a profit before tax (PBT) of Rs. 1,915 million and a profit after tax (PAT) ofRs. 1,479 million for the quarter which concluded as at March 31,2021.

DFCC Bank PLC, also emerged profitable in the following areas:

  • recorded a PBT of Rs. 2,036 million and PAT of Rs.1,583 million for the quarter ended March 31, 2021 compared to Rs. 1,408 million and Rs. 1,014 million respectively in the comparative period for the year 2020.
  • operating expenses rose from Rs. 1,751 million to Rs. 2,031 million compared to the comparative period in the previous year.
  • the basic earnings per ordinary share (EPS) of the Bank increased to Rs. 4.80 for the quarter which concluded March 31, 2021, with a notable  increase of up to 58%.The EPS stood at Rs. 3.04 for the previous comparative year. 
  • unutilized Staff related provisions for year 2019 which were reversed during the period ended March 31, 2020.
  • the loan portfolio witnessed an increase of 4%. It grew by Rs. 12,652 million to  Rs. 314,562 million compared to Rs. 301,909 million as at December 31 2020.  
  • the deposit base grew by 1% recording an increase of Rs. 2,059 million to Rs. 312,086 million from Rs. 310,027 million as at December 31, 2020.

The bank is determined to push for continued growth and progress, despite the challenges brought on by the covid-19 pandemic and will focus on expanding their digital footprint in order to increase ease and accessibility for customers.

Leave a Reply

Your email address will not be published.