trending Market Intelligence /marketintelligence/en/news-insights/trending/eqd05YnqZeK03C4Bq_nhqg2 content esgSubNav
In This List

People's Bank H1 profit falls 22.5% YOY

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


People's Bank H1 profit falls 22.5% YOY

Sri Lanka-based People's Bank posted a 22.5% year-over-year decline in net profit for the six months ended June 30, on the back of higher impairment charges.

The group's first-half profit attributable to equity holders fell to 7.11 billion Sri Lankan rupees from 9.17 billion rupees in the year-ago period. EPS slipped to 29 rupees from 38 rupees, according to an Aug. 27 earnings report.

Net interest income climbed to 37.37 billion rupees from 35.72 billion rupees, net fee and commission income went up to 4.16 billion rupees from 3.66 billion rupees. Net gain from trading rose to 2.04 billion rupees from 1.42 billion rupees.

Total operating income inched up to 47 billion rupees from 43.44 billion rupees. Net operating income also went up to 40.96 billion rupees from 39.53 billion rupees. Impairment charges for the period came to 6.04 billion rupees, up from 3.91 billion rupees a year earlier.

The group's interest margin stood at 3.89% as of June 30, down from 4.04% as of Dec. 31, 2018. Its gross nonperforming advances ratio for the period inched up to 3.39% from 2.70% at the end of 2018, while its net NPA also went up to 1.73% from 1.34% over the same period.

At the end of June, People's Bank's total capital adequacy ratio clocked in at 14.40%, down from 14.48% as of Dec. 31, 2018. Its Tier 1 and common equity Tier 1 ratio for the period stood at 12.43%, up from 11.66% over the same period.

As of Aug. 27, US$1 was equivalent to 179.79 Sri Lankan rupees.