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Commenting on the results, Pierre Guy Noël:-
“Group attributable profits for the nine months ended March 2021 reached Rs 6,066 million, similar to the level achieved last year, with domestic banking contributing 39% thereof. Profits increased significantly in the third quarter of the current financial year, up from Rs 827 million for the three months to March 2020 to Rs 2,282 million for the quarter to March 2021. Thiscontributed to the reversal of the 28.1% contraction in profits recorded for the six months to December 2020. The outbreak of the Covid-19 pandemic at the beginning of 2020 significantly impacted the third quarter results of the last financial year with a higher level of Expected Credit Losses and fair value losses incurred on the Group’s equity investments during that quarter.
CaixaBank SA (via Public) / CaixaBank posts a net profit of €514 million in the first quarter, excluding the extraordinary impacts arising from the Bankia merger publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.
Pan Asia Bank Records Best-Ever Q1 results in Challenging Times – Profit After Tax soars by 81% to post Rs. 750 Mn.
May, 4, 2021
Net Fee and Commission Income - Rs. 466 Mn, up by 28%
Other Operating Income - Rs. 179 Mn, up by 141%
Operating Profits up by 47% to post Rs. 1,197 Mn owing to overall excellent core banking performance and success of cost containment strategies
Operating Efficiency enhances as Cost-to-Income Ratio improves from 45.66% to 38.08%
Profit Before Tax - 986 Mn, up by 51% despite increased prudential provisioning
Key Profitability Indicators are among the best in the industry
Net Interest Margin improves from 4.41% to 07%
Return on Assets (Pre-Tax) improves from 1.70% to 24%
State-backed lender NatWest Group enjoyed a sharp upturn in profit during the first quarter as provisions for debts that might turn sour eased, in a tale that mirrors the likes of HSBC and Lloyds over recent days.
NatWest, rebranded from Royal Bank of Scotland last year, enjoyed an 82 per cent rise in first-quarter profits to £946million, against £519million at the same point a year ago.
The group released £102million of cash previously set aside for loans that may not be repaid as a result of the pandemic.
Mortgage lending and customer deposit both jumped over the quarter as the housing market remained buoyant and saving increased amid lockdown.