Sunday, July 21, 2024

Banks post mixed profits

Loan provisioning weighs on earnings Earnings of listed commercial banks showed a mixed trend in the first six months this year with half of the banks posting growth in net profit. Net profit of the remaining banks declined during January-June, compared to the same period last year, according to the banks’ half-yearly disclosures made public

Banks’ profits beat expectations

Most private banks clocked up significant growth in profit in the six months to June despite a fall in contributions from the stockmarket although they claimed a liquidity crisis over the period. Data from 23 private commercial banks shows that 16 of them logged profit growth ranging between 8 percent and 125 percent. Thirty private ... Read more