Union Bank of Colombo PLC (COSE: UBC.N0000)

Union Bank of Colombo Income Statement

Financials in millions LKR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	19,023	22,493	18,681	10,699	12,714	14,875
Interest Paid on Deposits	12,567	15,319	11,919	5,514	8,177	9,641
Net Interest Income	6,456	7,174	6,762	5,185	4,538	5,234
Net Interest Income Growth (YoY)	-11.62%	6.10%	30.42%	14.27%	-13.31%	17.21%
Gain (Loss) on Sale of Assets	1.36	1.36	2.54	3.21	4.08	5.12
Gain (Loss) on Sale of Investments	475.78	512.75	52.73	435.41	1,146	679.08
Other Non-Interest Income	1,577	1,489	2,028	1,365	1,000	997.95
Total Non-Interest Income	2,054	2,003	2,083	1,803	2,151	1,682
Non-Interest Income Growth (YoY)	5.31%	-3.84%	15.54%	-16.15%	27.85%	-6.16%
Revenues Before Loan Losses	8,511	9,178	8,845	6,988	6,688	6,916
Provision for Loan Losses	1,312	1,735	2,968	1,129	947.24	579.87
Revenue	7,198	7,443	5,878	5,859	5,741	6,336
Revenue Growth (YoY)	7.27%	26.63%	0.31%	2.06%	-9.40%	11.51%
Salaries and Employee Benefits	2,705	2,681	2,293	2,065	2,141	2,104
Occupancy Expenses	838.93	832.77	787.28	737.05	724.67	699.26
Selling, General & Administrative	123.77	123.77	97.16	55.79	60.32	207.12
Other Non-Interest Expense	2,963	2,899	2,173	1,754	1,745	2,124
Total Non-Interest Expense	6,631	6,536	5,350	4,612	4,671	5,135
EBT Excluding Unusual Items	567.24	906.46	527.44	1,248	1,070	1,202
Asset Writedown	-	-	-	-	-1.05	-0.42
Pretax Income	561.64	900.87	525.28	1,240	1,069	1,201
Income Tax Expense	396.57	436.98	102.34	389.68	445.92	397.04
Earnings From Continuing Operations	165.07	463.89	422.94	850.18	622.75	804.22
Minority Interest in Earnings	-0.27	-7.6	11.13	-13.35	9.96	-39.09
Net Income	164.8	456.29	434.07	836.83	632.71	765.13
Net Income to Common	164.8	456.29	434.07	836.83	632.71	765.13
Net Income Growth	-71.69%	5.12%	-48.13%	32.26%	-17.31%	47.78%
Basic Shares Outstanding	1,093	1,084	1,084	1,084	1,084	1,089
Diluted Shares Outstanding	1,100	1,091	1,090	1,084	1,084	1,089
Shares Change (YoY)	1.89%	0.08%	0.58%	-0.01%	-0.51%	-0.24%
EPS (Basic)	0.15	0.42	0.40	0.77	0.58	0.70
EPS (Diluted)	0.15	0.42	0.40	0.77	0.58	0.70
EPS Growth	-72.12%	5.00%	-48.05%	32.76%	-17.14%	48.94%
Dividend Per Share	-	-	-	-	0.130	0.140
Dividend Growth	-	-	-	-	-7.14%	-
Effective Tax Rate	70.61%	48.51%	19.48%	31.43%	41.73%	33.05%

Source: S&P Capital IQ. Banks template. Financial Sources.