First Capital Holdings posts Rs 997m PAT

First Capital Holdings PLC has reported notable growth in performance during the 2014/15 financial year. The company has recorded a consolidated profit after tax of Rs. 997 mn for the year 2014/15. The results reflect an increase of 200% from the previous financial year.

Chief Executive Officer, First Capital Holdings PLC, Dilshan Wirasekara, said, "We are delighted with our financial performance and remarkable business momentum during the past year and will endeavour to keep raising the bar for investment banking services in Sri Lanka.

Our commitment towards becoming the country's leading investment bank has been validated over the year through our performance, management discipline and perpetual emphasis on ethics".

First Capital Holdings PLC comprises of First Capital Treasuries Limited, First Capital Asset Management Limited, First Capital Equities (Pvt) Limited, First Capital Markets Limited and First Capital Limited.

The Group's largest subsidiary, First Capital Treasuries Limited, was the prime contributor towards the Group's Net Earnings (Net Profit after Tax) for this year. First Capital Treasuries Limited capitalized on opportunities arising from the continuous decline in secondary market interest rates and realised net trading gains of Rs. 900 mn during the period under review. This is a significant increase in comparison to Rs. 227 mn reported during the previous year. First Capital Treasuries Limited also fortified its long term capital base (Tier II) through a Listed Debenture Issue of 500Mn in the fourth quarter of the financial year. Recording its highest ever fee income, First Capital Limited mobilized Rs. 22 bn through corporate debt for its clients during the financial year under review. The company reported a fee income of LKR 124Mn during 2014/15, reflecting almost a 3.2 times growth from the previous year.