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First Capital Holdings PLC Chairman Nishan Fernando[/caption]
First Capital Holdings PLC, the only listed investment bank in Sri Lanka, recorded a Profit Before Tax (PBT) of Rs. 2.08 billion in the first quarter of 2020 (Q1 2020) ended 30 June 2020, compared to Rs. 812 million in Q1 2019. It reported a Profit After Tax (PAT) of Rs. 1.46 billion, compared to Rs. 581.96 million in the corresponding period of the previous year.
For the year 2019/20, the group posted a consolidated PAT of Rs. 1.07 billion for the year. First Capital, with a history of over 35 years, currently has total assets of Rs. 32.5 billion and equity of Rs. 4.9 billion.
“Reflecting on the past three months, what stands out most is the group’s record-breaking performance, making it without a doubt, the best year to date,” commented First Capital Holdings PLC Chairman Nishan Fernando.
The group’s Primary Dealer Operations were positively impacted by the efforts of the Central Bank of Sri Lanka (CBSL) to revive the economy through monetary policy easing measures to counter the Covid-19 pandemic impact, with the business reporting a PAT of Rs. 1.36 billion for the quarter (2019/20 – Rs. 562 million).
The Corporate Finance Division too recorded notable results, mobilising Rs. 3 billion for its clients through structuring and placement of corporate debt securities, generating a fee income of Rs. 25 million for the quarter (2019/20 – Rs. 31 million).
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First Capital Holdings PLC Director/Chief Executive Officer Dilshan Wirasekara[/caption]
The Wealth Management Division of the group delivered strong performance, reporting a fee income of Rs. 17 million for the quarter (2019/20 – Rs. 11 million) amidst challenges faced during the Covid-19 lockdown period. The division showed a growth in assets under management to end with Rs. 27.9 billion as at 30 June 2020 (31 March 2020 – Rs. 26.4 billion).
Despite the setback experienced in the first quarter of 2020, with the Colombo Stock Exchange (CSE) remaining closed for seven weeks, the group’s Stock Brokering Division recorded revenue of Rs. 14 million for the quarter (2019/20 – Rs. 6 million).
“Given that Covid-19 is still an ongoing situation, we expect the Government would continue with its current accommodative monetary policy stance for the year 2020,” commented First Capital Holdings PLC Director/Chief Executive Officer Dilshan Wirasekara.
First Capital Holdings PLC is listed on the CSE and is rated (SL)A- with a Stable outlook by ICRA Lanka.
First Capital Holdings PLC Chairman Nishan Fernando[/caption]
First Capital Holdings PLC, the only listed investment bank in Sri Lanka, recorded a Profit Before Tax (PBT) of Rs. 2.08 billion in the first quarter of 2020 (Q1 2020) ended 30 June 2020, compared to Rs. 812 million in Q1 2019. It reported a Profit After Tax (PAT) of Rs. 1.46 billion, compared to Rs. 581.96 million in the corresponding period of the previous year.
For the year 2019/20, the group posted a consolidated PAT of Rs. 1.07 billion for the year. First Capital, with a history of over 35 years, currently has total assets of Rs. 32.5 billion and equity of Rs. 4.9 billion.
“Reflecting on the past three months, what stands out most is the group’s record-breaking performance, making it without a doubt, the best year to date,” commented First Capital Holdings PLC Chairman Nishan Fernando.
The group’s Primary Dealer Operations were positively impacted by the efforts of the Central Bank of Sri Lanka (CBSL) to revive the economy through monetary policy easing measures to counter the Covid-19 pandemic impact, with the business reporting a PAT of Rs. 1.36 billion for the quarter (2019/20 – Rs. 562 million).
The Corporate Finance Division too recorded notable results, mobilising Rs. 3 billion for its clients through structuring and placement of corporate debt securities, generating a fee income of Rs. 25 million for the quarter (2019/20 – Rs. 31 million).
[caption id="attachment_95486" align="alignleft" width="273"] First Capital Holdings PLC Director/Chief Executive Officer Dilshan Wirasekara[/caption]
The Wealth Management Division of the group delivered strong performance, reporting a fee income of Rs. 17 million for the quarter (2019/20 – Rs. 11 million) amidst challenges faced during the Covid-19 lockdown period. The division showed a growth in assets under management to end with Rs. 27.9 billion as at 30 June 2020 (31 March 2020 – Rs. 26.4 billion).
Despite the setback experienced in the first quarter of 2020, with the Colombo Stock Exchange (CSE) remaining closed for seven weeks, the group’s Stock Brokering Division recorded revenue of Rs. 14 million for the quarter (2019/20 – Rs. 6 million).
“Given that Covid-19 is still an ongoing situation, we expect the Government would continue with its current accommodative monetary policy stance for the year 2020,” commented First Capital Holdings PLC Director/Chief Executive Officer Dilshan Wirasekara.
First Capital Holdings PLC is listed on the CSE and is rated (SL)A- with a Stable outlook by ICRA Lanka.