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People's Bank FY'15 net profit drops 12.6% YOY

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People's Bank FY'15 net profit drops 12.6% YOY

People'sBank on March 23 reported a 12.6% year-over-year decrease in netprofit for the full year ended Dec. 31, 2015.

The bank said consolidated profit attributable to equity holdersfell to 13.90 billion Sri Lankan rupees, or 96 rupees per share, from 15.90billion rupees, or 110 rupees per share, in the prior-year period.

Full-year net interest income jumped year over year to 54.26billion rupees from 39.97 billion rupees, while net fee and commission incomedecreased to 3.86 billion rupees from 4.01 billion rupees in 2014.

The group's net operating income for 2015 climbed to 62.47billion rupees from 54.43 billion rupees in the year-ago period.

As of Dec. 31, 2015, the group's interest margin clocked inat 4.5%, up from 3.7% at the end of December 2014.

The gross nonperforming advances ratio stood at 2.4% at theend of December 2015, down from 3.2% in December 2014.

The core capital adequacy ratio declined to 11.5% at the endof December 2015 from 12.4% at the end of 2014. The total capital adequacyratio also dipped to 13.8% from 14.9% over the same period.

As of March 24, US$1was equivalent to 146.88 Sri Lankan rupees.