ABC Banking Corporation Records a 33% Increase in Net Interest Income

ABC Banking Corporation has reported a 33% rise in net interest income, attributing this growth to changes in the interest rate environment and the bank’s loan portfolio expansion over the year.

The figure has surged from Rs 448 million for the year ending June 30, 2022, to Rs 596 million for the corresponding period this year.

Furthermore, ABC Banking Corporation Ltd witnessed a 48% increase in after-tax profit, reaching Rs 298 million compared to Rs 201 million in the previous year.

The bank also released Rs 51 million in provisions for credit impairment on financial assets during the year, compared to a charge of Rs 3 million the previous year.

The bank’s financial statement also reflects a 26% higher total operating income, reaching Rs 777 million (compared to Rs 618 million in 2022).

As of June 30, 2023, the bank’s total assets stood at Rs 23.6 billion, with customer deposits amounting to Rs 20.4 billion.

Source: Defi Media