March 8, 2017 / 3:02 PM / 5 months ago

BRIEF-NIC Bank posts FY net profit of 4.3 billion shillings

1 Min Read

March 8 (Reuters) - NIC Bank Ltd:

* Posts net pre-­tax profit of 6.17 billion shillings and net profit of 4.3 billion shillings for FY 2016

* Says FY total operating income grew by 17.4% to 16.1 billion shillings compared to 13.7 billion shillings year ago

* Says FY 17 expected to be challenging year for the industry

* Announces first and final dividend of 1.25 shillings per share

* Says group’s net profit was weighed down by significant additional provisions taken to support non-performing facilities of few large corporate customers that were impaired in 2015 Source : j.mp/2mlw9o1 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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