Low business activity brings ABC Banking’s profits down

The low interest rate environment and reduced business activity continue to affect the ABC Banking Corporation’ performance.

The bank has registered a profit before impairment of Rs60.4 million for the quarter ended 30 September 2021, compared to last year’s same period of Rs78.1 million.

The operating income for the quarter ended 30 September 2021 stood at Rs144.1 million compared to Rs160.0 million same period last year.

The bank’s total assets as at 30 September 2021 was Rs22.8 billion compared to Rs20.0 billion same quarter last year whilst the saving and deposit balance closed at Rs19.4 billion compared to Rs16.9 billion compared to same quarter last year.

As at 30 September 2021, the bank’s Capital Adequacy Ratio stood at 16.2% and Liquidity Coverage Ratio at 311%.