The development lender-turned fully-fledged commercial bank reported a Rs.5.24 billion net interest income for the quarter under review, up 15.4 percent year-on-year (YoY), as the bank accelerated its loans while the margins expanded with deposits getting reprised at lower interest rates.
The decline in the interest expenses outstripped the corresponding decline in the interest income by at least three times to improve the net interest margin to 3.23 percent, from 3.07 percent at the start of the year.
The bank also attracted more low-cost deposits, as out of the Rs.25.0 billion deposits it raised during the first six months, Rs.13.0 billion were low cost.
This story is from the July 29, 2021 edition of Daily Mirror - Sri Lanka.
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This story is from the July 29, 2021 edition of Daily Mirror - Sri Lanka.
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