PABC sees accelerated growth in 2017 View(s):Pan Asia Banking Corporation PLC (PABC) has seen increased profit in 2017, “demonstrating the resilience in operating in a challenging market place where the margins came under pressure and the growth moderated,” the bank said in a media release. Pre-tax profit was Rs.1.88 billion while post tax profit was recorded at Rs.1.4 billion, up by 11 per cent from the previous year. PABC CEO Nimal Tillekeratne said that the overall performance of the bank in 2017 reflects its managed growth in advances due to certain conscious decisions taken with the objective of improving asset quality and other operational aspects. Despite the temporary slowdown in our bottom-line and the portfolio performance in 2017, we reached certain important milestones during the year. During 2017, the bank accomplished a key milestone in crossing a Rs.100 billion advances portfolio to end the year with a gross loans and receivables book of Rs.111.4 billion.

Source: Sunday Times March 17, 2018 20:20 UTC