- Group Net Operating Income up by 22% to LKR 24 Bn
- Impairment charge for loans and receivables reduced by 69% to LKR 3.6 Bn.
- Group Profit After Tax of LKR 7.1 Bn
- Group Total Capital Adequacy Ratio – 15.242%
- Group Total Assets up by 6% to LKR 681 Bn
During the period under review, DFCC Bank has continued to record a strong financial performance, reflecting the entity’s growth and stability amid the ongoing economic recovery. Market lending interest rates continued to decline in line with the current accommodative monetary policy stance, with the expectation that credit expansion to the private sector is expected to continue, supported by lower market lending interest rates. The Bank has continued to reduce lending rates in line with the prevailing accommodative monetary policy stance, and consequently, the loan portfolio of the Bank has grown by 10% to LKR 383 Bn as of 30 September 2024.
Further, the Bank issued Sri Lanka’s first ever listed and rated Green Bond, which was significantly oversubscribed during the period under review. This achievement is a testament to the trust and confidence that the Bank’s valued investors and stakeholders have placed in DFCC Bank and its commitment to sustainability.
The following commentary relates to the unaudited Financial Statements for the period ended 30 September 2024, presented in accordance with Sri Lanka Accounting Standard 34 (LKAS 34) on “Interim Financial Statements.”
