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Cargills Bank reports weaker March quarter as other income slumps - Business | Daily Mirror

Daily Mirror LK · · 517 words · By Administrator
open_in_new Read the original article: https://www.dailymirror.lk/business/Cargills-Bank-reports-weaker-March-quarter-a…

fact_checkFact-Check Results

21 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 11
info Single Source 8
help Insufficient Evidence 2
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“Cargills Bank PLC reported a significant drop in quarterly earnings for the three months ended March 2026”
SINGLE SOURCE
The provided evidence contains job postings and general company information for 2026, but no financial reports or news articles confirming a drop in quarterly earnings for the period ended March 2026.
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web search NEUTRAL — Closing DateJuly 31, 2026. CompanyCargills Bank PLC. CategoryBank Jobs.Cargills Bank PLC, a licensed commercial bank in Sri Lanka, is inviting applications from energetic and enthusiastic individuals …
https://governmentjob.lk/job/trainee-banking-assistant-cargi…
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web search NEUTRAL — Banking Assistant – Cargills Bank PLC 2026. March 12, 2026. GCE OL Results Release Date and Time 2025(2026) – www.doenets.lk.
https://www.gazette.lk/2026/03/manager-cargills-bank-plc-202…
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web search NEUTRAL — Cargills Bank PLC | 26,181 followers on LinkedIn.Cargills Bank is hiring a Head of Internal Audit to oversee risk-based auditing and ensure compliance. Ideal candidates have 10+ years of banking exper…
https://in.linkedin.com/company/cargills-bank
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“The bank reported a profit before tax of Rs.185 million for the quarter, down 42 percent from the corresponding period in 2025”
SINGLE SOURCE
No evidence was found in the search results regarding a profit before tax of Rs.185 million for the quarter ended March 2026.
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web search NEUTRAL — Cargill, Incorporated is an American multinational food corporation that produces grain and other agricultural commodities such as palm oil, energy, steel, transport, livestock, feed, as well as food …
https://en.wikipedia.org/wiki/Cargill
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web search NEUTRAL — Enjoy the same lowest prices as your local Cargills Food City, Express & Food Hall store! Choose from a variety of products from branded, chilled, fresh & frozen. New products added weekly! Not satisf…
https://cargillsonline.com/
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web search NEUTRAL — With a trusted heritage of over 175 years, the Cargills Group is built on the principles of reducing the cost of living, enhancing youth skills, and bridging regional disparities.
https://www.cargillsceylon.com/
info
“largely due to a Rs.381 million decline in total other income”
SINGLE SOURCE
While there is evidence of a decline in other income for 1Q2023, there is no evidence provided for a Rs.381 million decline specifically for the quarter ended March 2026.
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web search NEUTRAL — Cargills Bank has reported a profit after tax of Rs. 106 million for 1Q2023, vs. a loss of Rs.Meanwhile, Total Other Income declined 42% YoY to Rs. 124 million due to lower foreign exchange gains duri…
https://www.ft.lk/financial-services/Cargills-Bank-core-oper…
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web search NEUTRAL — “Cargills Bank has identified a cybersecurity event involving unauthorized access to a peripheral system within its infrastructure,” Cargills Bank said in a CSE filing.Sri Lanka Customs outperforms in…
https://economynext.com/sri-lankas-cargills-bank-says-it-cou…
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web search NEUTRAL — Cargills Bank reported a profit after tax of Rs.106 mn for 1Q2023, vs. a loss of Rs.Meanwhile, Total Other Income declined 42% YoY to Rs.124Mn due to lower foreign exchange gains during the quarter.
https://archives1.sundayobserver.lk/2023/05/21/business/core…
info
“net interest income rising 20 percent year-on-year to Rs.1.04 billion”
SINGLE SOURCE
No evidence was found to support the claim that net interest income rose to Rs.1.04 billion for the quarter ended March 2026.
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web search NEUTRAL — Monday March 24, 2025 12:34 pm. ECONOMYNEXT – Sri Lanka’s Cargills Bank said it had successfully countered a ‘cyber security event’ involving access to a ‘peripheral system’ and further strengthened i…
https://economynext.com/sri-lankas-cargills-bank-says-it-cou…
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web search NEUTRAL — On or around March 20, 2025, Cargills Bank — a commercial bank in Sri Lanka — fell victim to a major cyberattack.
https://chanidumadalagama.medium.com/the-cargills-bank-data-…
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web search NEUTRAL — A carrier’s net income is its net earnings after the costs of goods sold.
https://www.investopedia.com/terms/n/netincome.asp
info
“The bank’s net interest margin improved to 4.46 percent during the quarter from 4.38 percent a year earlier”
SINGLE SOURCE
The evidence provides general definitions of Net Interest Margin but contains no specific data for Cargills Bank for the period of March 2025 to March 2026.
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web search NEUTRAL — Banks earn interest from loans they provide (mortgages, business loans, etc.). Banks then pay interest on deposits (savings accounts, term deposits, current accounts). NIM is the spread between those …
https://www.costperform.com/calculate-net-interest-margin-ni…
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web search NEUTRAL — bank’s net interest margin.
https://www.investopedia.com/terms/n/netinterestmargin.asp
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web search NEUTRAL — Australia's Bank Net Interest Margin: 3.5 % of interest-earning assets in 2019, +0.3pp YoY.This indicator tracks australia bank net interest margin in Australia, published by World Bank. Data covers 2…
https://apiardata.com/statistics/au-bank-net-interest-margin
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“Total other income fell 96 percent to Rs.15 million”
SINGLE SOURCE
No evidence was found to support the claim that total other income fell to Rs.15 million for the quarter ended March 2026.
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web search NEUTRAL — On March 25, Cargills Bank submitted a second filing to the CSE acknowledging that an “unauthorised party” claimed to have accessed and shared files from its system.
https://chanidumadalagama.medium.com/the-cargills-bank-data-…
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web search NEUTRAL — Monday March 24, 2025 12:34 pm. ECONOMYNEXT – Sri Lanka’s Cargills Bank said it had successfully countered a ‘cyber security event’ involving access to a ‘peripheral system’ and further strengthened i…
https://economynext.com/sri-lankas-cargills-bank-says-it-cou…
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web search NEUTRAL — Cargills Bank Limited is a venture promoted by Cargills (Ceylon) PLC and CT Holdings PLC, the parent company of Cargills, and has attracted strong local investors as well as reputed international part…
https://bizenglish.adaderana.lk/cargills-bank-launches-new-c…
info
“Treasury and Investments segment reflected this slowdown, with operating profit before tax declining sharply to Rs.18 million from Rs.362 million a year earlier”
SINGLE SOURCE
No evidence was found regarding the operating profit of the Treasury and Investments segment for the period ending March 2026.
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web search NEUTRAL — Profit Before Tax (PBT): Definition, Uses, and How to Calculate - Investopedia.
https://www.investopedia.com/terms/p/profitbeforetax.asp
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web search NEUTRAL — Total expenses ballooned to Rs 15,037 crore in FY23 from 6,993 crore in FY22. A significant amount of the expenditure was attributed to the purchase of stock-in-trade amounting to Rs 11,233 crore. The…
https://economictimes.indiatimes.com/tech/startups/ofbusines…
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web search NEUTRAL — JS Bank has reported a turnaround in its profitability by posting a profit before tax of Rs1,472 million for the half-year ended June 30, 2020, as compared to a loss before tax of Rs597 million over t…
https://profit.pakistantoday.com.pk/2020/09/03/js-bank-posts…
info
“Banking segment emerged as the key earnings driver during the quarter, with operating profit before tax rising to Rs.282 million from Rs.129 million in the same period last year”
SINGLE SOURCE
No evidence was found regarding the operating profit of the Banking segment for the period ending March 2026.
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web search NEUTRAL — Cargills Bank Ltd. yesterday became the first bank to conclude an acquisition of a finance company under the Government-initiated and Central Bank facilitated financial sector consolidation.7 million …
https://www.cargillsbank.com/ta/media-centre/news/cargills-b…
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web search NEUTRAL — The Azania Bank Limited (ABL) posted an after tax profit of Sh1.8 billion last year from a loss of Sh6 billion recorded during the previous year.
https://www.thecitizen.co.tz/News/Business/Azania-Bank-posts…
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web search NEUTRAL — The bank’s gross NPL ratio increased to 5.11% from 4.95% at the end of 2019, while its net NPL ratio reduced to 2.18% from 3.00% due to additional provisioning. The bank’s interest margin recorded a d…
https://www.lankabusinessonline.com/2021/02/25/comm-bank-gro…
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“supported by a 36 percent increase in segment net interest income to Rs.944 million”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this specific claim.
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“Net fee and commission income edged down 3 percent, or Rs.7 million”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this specific claim.
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“total operating expenses increasing 7 percent to Rs.979 million”
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“Personnel expenses rose 15 percent”
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“depreciation and amortisation costs climbed 36 percent”
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“the bank’s cost-to-income ratio deteriorated to 75 percent from 71 percent a year earlier”
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“The total impairment charge fell to Rs.24 million from Rs.126 million a year earlier”
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“the Stage 3 loans ratio improved to 6.44 percent from 8.18 percent in March 2025”
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“total assets rising 6 percent from December 2025 to Rs.97.5 billion by end-March”
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“The net loan book grew 6 percent during the quarter to Rs.67 billion, marking a 37 percent increase from a year earlier”
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“Customer deposits rose 5 percent from end-2025 to Rs.69.4 billion, reflecting a 22 percent year-on-year increase”
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“During the quarter, the bank also raised Rs.2.5 billion through a rights issue”
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“Cargills Bank’s total capital ratio improved to 19.01 percent by end-March from 17.12 percent at end-2025”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.