Union Bank of Colombo PLC (UBC) released its interim report today which reported Rs. 31.9m in profit attributable to owners which is a 14% growth from the March quarter and a 71% increase from the same period last year.
At group level, UBC’s net interest income was flat at Rs. 615m while increase in trading income and reduction in impairments contributed to the increase in operating income.
UBC’s deposit base grew faster than its loan book during the quarter while (net) NPL reduced to 3.99%, lowest in recent times.
UBC closed at 24.40/- [+0.20] and trades at 2.0x book value.
Click here to view the report uploaded to CSE which includes a review by the company.
