Pan Asia Bank’s compelling performance in 2022
View(s):Pan Asia Banking Corporation PLC’s profit in 2022 was weighed down by higher credit loss expenses and exchange losses on loans and advances and foreign currency denominated financial instruments of the government.
The bank increased its provision buffers for loan losses during the year under review sensibly, through introducing changes to its impairment models taking into consideration of increased level of risks and uncertainties emerged due to the turbulent economic conditions prevailed in the country.
The interest income for the year rose by 42 per cent due to increase in market lending rates and re-pricing effect of facilities.
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