Top bank’s post-tax profit dips

Sri Lanka’s biggest bank, the Bank of Ceylon has reported lower post-tax profits for calendar 2009 at Rs 3.0 billion from Rs 3.5 billion in the previous year.

In results released to the stockmarket, the state bank said total revenue was up at Rs 63.4 billion against Rs 60.1 billion of which interest income accounted for Rs 53 billion vs Rs 49 billion. Provision for bad debts and writing off bad loans totalled Rs 15 billion against Rs 14 billion in 2008.