Union Bank of Colombo PLC has reported a Profit After Tax (PAT) of LKR 251 million for the first half of 2025 ending 30 June, marking a 247% increase compared to the same period in 2024. This robust profit growth was underpinned by continued expansion of the Bank’s balance sheet and strategic operational improvements.
Profit Before Tax (PBT) also rose by 58% to LKR 834 million, reflecting enhanced performance across core banking operations and increased contributions from subsidiaries.
The Bank’s net loans and advances exceeded LKR 100 billion during the period, representing a 24% year-to-date growth, with focused growth strategies in leasing and pawning portfolios. This expansion directly supported income growth and was complemented by higher loan volumes and trade-related activity, which drove a 25% increase in net fee and commission income.
Union Bank also recorded a net impairment reversal of LKR 23 million, attributed to improved credit quality and recovery efforts. While operating expenses rose in line with business growth and continued investment in strategic initiatives, total operating income increased by 8%, driven by higher non-interest income and operational efficiency. Customer deposits reached LKR 108 billion, supported by a higher CASA ratio of 28.3%, indicating improved deposit mix. The Bank maintained strong capital adequacy levels, with a Total Capital Adequacy Ratio (CAR) of 13.65% and a Tier I CAR of 12.64%, remaining well above regulatory thresholds.
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