Pan Asia Bank closed its financial year ended December 31, 2016 recording a profit before tax of Rs 1.8 billion, an increase of 17% over the previous year.
Meanwhile the Bank increased its Profit after tax by 20% for the same period to Rs.1.25 billion or Rs.4.24 a share, surpassing its previous earnings record.
This commendable performance is a result of the combination of factors from the timely re-pricing of assets and liabilities, re-calibration of assets in to more remunerative areas, better recoveries and asset quality, the relatively strong growth in loans and receivables and better management of costs in all areas of the banking business during the year.
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