Srilanka, Feb. 18 -- Kicking off the banking sector earnings for the December 2024 quarter, Pan Asia Banking Corporation PLC (PABC) reported some robust performance for the quarter, which was further propelled by the massive reversal of provisions coming from the International Sovereign Bonds.
Pan Asia Bank reported earnings of Rs.4.33 a share or Rs.1.92 billion for the October-December quarter,compared to Rs.1.38 a share or Rs.612.53 million in the corresponding period in 2023, largely helped by an outsize provision reversal, on account of its International Sovereign Bond investments.
The bank reported provision reversals of Rs.5.44 billion in the quarter, compared to Rs.887.51 million in new provisions made in the comparison period in 2...