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Monday, 16 November 2009

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In first nine months of 2009:

ComBank revenue up Rs 32.6 b

The Commercial Bank of Ceylon PLC, its subsidiaries and associates have posted a profit before tax of Rs 5.075 billion on a gross income of Rs 32.6 billion for the nine months ended September 30.

In results released to the Colombo Stock Exchange, the Commercial Bank Group reported a marginal drop in its profits largely as a result of a contraction in its loan book consequent to the low credit demand experienced in the banking sector and higher non-interest expenses.

The net interest income, one of the principal components of the gross income, had reduced by 5.54 percent to Rs 8.834 billion, mainly due to lower returns on interest earning assets during the period under review.

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