First Citizens Bank Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Provides Earnings Guidance for Fiscal 2015
January 26, 2015
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First Citizens Bank Limited reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported total net income of TTD 430,123,000 compared to TTD 428,156,000 reported a year ago. Operating profit was TTD 209,540,000 compared to TTD 205,761,000 reported a year ago. Profit before taxation was TTD 214,344,000 compared to TTD 211,630,000 reported a year ago. Profit after taxation was TTD 177,660,000 or TTD 0.71 per basic share compared to TTD 174,845,000 or TTD 0.70 per basic share reported a year ago. Net interest income was TTD 286,661,000 compared to TTD 292,209,000 reported a year ago. Net cash flow from operating activities was TTD 831,451,000 compared to TTD 867,362,000 reported a year ago. Purchase of property, plant and equipment was TTD 15,138,000 compared to TTD 14,462,000 reported a year ago. The group's first quarter performance was particularly noteworthy in light of current market conditions which continue to be marked by high liquidity and low interest rates.
Notwithstanding, the board and management remain confident of continued growth and profitability for fiscal 2015.
First Citizens Bank Limited is engaged in financial services activities. The Company provides retail, commercial and corporate banking, as well as investment banking services. Its segments include Retail banking, Corporate banking, Treasury and Investments Banking, Asset management and Group Functions. Its Retail banking segment is engaged in loans and mortgages, deposits, foreign exchange transactions, credit and debit cards, and card merchant acquiring business. Its Corporate banking segment includes loans and credit facilities, and deposits and current accounts for corporate and institutional customers. Its Treasury management and investment banking segment includes Liquidity management and investment banking services, including corporate finance, and specialized financial trading. Its Asset management segment includes investment products and services to institutional investors and intermediaries. The Group function segment includes Finance, legal and other centralized functions.
First Citizens Bank Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Provides Earnings Guidance for Fiscal 2015