DFCC Group PAT up by 16%

DFCC Group, consolidated profit after tax increased 16% to Rs 3,538 million. The contribution from the combined banking business of DFCC Bank (DFCC) and DFCC Vardhana Bank (DVB) was Rs 3,410 million, which itself was up 19%.

A key deliverable is return on investment. A shareholder of DFCC would have received a total of Rs 57.50 in dividends for each share held over the ten-year period from 200$ to 2012, which works out to an average dividend of Rs 5.75 per share per annum. In overall terms, taking into account the bonus issues and the rights issue during this period. Total Shareholder Return works out to approximately 20% per annum.

"The Management Discussion provides an analysis of business and financial performance. But before I move on, I must also make mention of the commendable initiative by the Government of Sri Lanka to support financial institutions in raising long term funds from international markets. DFCC is one of the two institutions to be supported to raise

USD 250 million in l0-year funds. It is actively exploring opportunities and options in this regard, said J.N.S. BRito Chairman, DFCC Bank.