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Bank of Ceylon Q4 net profit jumps 67.7% YOY

Bank ofCeylon reported a 67.7% year-over-year surge in group net profitfor the fourth quarter of 2015.

The bank said group profit attributable to equity holdersrose to 5.21 billion Sri Lankan rupees from 3.11 billion rupees in the fourthquarter of 2014. EPS for the period amounted to 520.68 rupees from 576.77rupees, according to a document acquired by S&P Global Market Intelligence.

Net interest income for the quarter dropped to 12.89 billionrupees from 13.95 billion rupees, while net fee and commission income declinedto 2.20 billion rupees from 2.46 billion rupees.

Total operating income inched up to 18.69 billion rupeesfrom 18.41 billion rupees. Net operating income jumped to 20.05 billion rupeesfrom 13.59 billion rupees.

For the full year, the group's profit attributable to equityholders of the bank rose 20.5% to 17.38 billion rupees from 14.42 billionrupees in 2014. Diluted EPS declined to 1,737.61 rupees from 2,679.29 rupees.

As of the end of 2015, the group's interest margin clockedin at 3.37%, up from 3.15% at the end of 2014.

The bank's gross nonperforming advances ratio increased to4.30% from 3.78% over the same period, while the net NPA ratio climbed to 1.77%from 1.64%.

The group's core capital adequacy ratio stood at 9.36% atthe end of 2015, down from 9.80% at the end of 2014. The total capital adequacyratio also declined, to 13.33% from 13.96%.

As of March 1, US$1 wasequivalent to 144.56 Sri Lankan rupees.