DFCC Bank's Strong Financial Performance

DFCC Bank reported a Profit Before Tax (PBT) of 7,237 million rupees and a Profit After Tax (PAT) of 4,654 million rupees for June 30, 2024. The Group recorded a PBT of 8,342 million rupees and PAT of 5,739 million rupees for June 30, 2024 compared to 5,867 million rupees and 3,923 million rupees.

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The Bank's Return on Equity (ROE) improved to 12.16 percent during the period ended June 30, 2024 from 12.19 percent recorded for the year ended December 31, 2023. The Bank's Return on Assets (ROA) before tax for the period ended June 30, 2024, is 2.11 percent compared to 1.82 percent for the year ended December 31, 2023. The Bank's total tax expense, which includes Value Added Tax (VAT) and Social Security Contribution Levy (SSCL) on financial services and Income Tax, is 4,754 million rupees for the period ending June 30, 2024. As a result, the Bank's tax expense as a percentage of operating profit for the period stood at 50.53 percent.