Regulatory Alerts2009-10-27 | REF: BSD/DIR/GEN/CIR/03/024Publication of Un-Audited Accounts of Banks as at September 30, 2009
▅The company's financial performance in September 2009 shows improvements over the same period in 2008. The key highlights from the Profit & Loss statement are: - Net Interest and Discount income increased by a significant margin, contributing to higher Operating Income. - Despite an increase in Operating Expenses and Provision for Risk Assets, the Group's Net Profit before Tax & Exceptional rose year-over-year. - The Company witnessed a decline in taxation expenses, leading to an increase in Profit (loss) after tax before extra. - Despite having minority interests, the Group managed to record a higher Profit after tax and minority interest compared to the previous year. - Although there are some non-performing loans and advances, they make up a lesser portion of total loans and advances than in 2008. This suggests that loan management and risk assessment have improved over time.