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

Daily Mirror LK · 🇱🇰 public Sri Lanka · May 01, 2026 · 517 words · By Administrator

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What to know about Cargills Bank reports weaker March quarter as other income slumps - Business

Reply To: Name - Reply Comment Cargills Bank PLC reported a significant drop in quarterly earnings for the three months ended March 2026, as a steep decline in investment-related income offset stronger core banking performance driven by loan growth and wider…

Claims checked 21

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center67%

Right33%

3 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Why it matters

The bank reported a profit before tax of Rs.185 million for the quarter, down 42 percent from the corresponding period in 2025, largely due to a Rs.381 million decline in total other income.

Common ground

The weaker bottom line came despite a stronger performance in its core lending business, with net interest income rising 20 percent year-on-year to Rs.1.04 billion, supported by loan growth and repricing of deposits and advances in line with market conditions.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What concrete event or decision sits underneath the headline: Cargills Bank reports weaker March quarter as other income slumps - Business?
What evidence would most clearly confirm or weaken the claim that total operating expenses increasing 7 percent to Rs.979 million?
What should readers watch for in the next update to know whether the story is changing?

open_in_new Read the original article: https://www.dailymirror.lk/business/Cargills-Bank-reports-weaker-March-quarter-a…

fact_checkClaims Checked

eFinder analyzed this article and checked 21 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 11

info Single Source 8

help Insufficient Evidence 2

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Claim 1: “total operating expenses increasing 7 percent to Rs.979 million”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 2: “Customer deposits rose 5 percent from end-2025 to Rs.69.4 billion, reflecting a 22 percent year-on-year increase”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 3: “depreciation and amortisation costs climbed 36 percent”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 4: “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.

travel_explore

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…

travel_explore

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

info

Claim 5: “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.

travel_explore

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

Claim 6: “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.

travel_explore

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…

travel_explore

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

schedule

Claim 7: “the bank’s cost-to-income ratio deteriorated to 75 percent from 71 percent a year earlier”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 8: “Cargills Bank’s total capital ratio improved to 19.01 percent by end-March from 17.12 percent at end-2025”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

info

Claim 9: “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.

travel_explore

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…

travel_explore

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…

schedule

Claim 10: “During the quarter, the bank also raised Rs.2.5 billion through a rights issue”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 11: “Personnel expenses rose 15 percent”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 12: “total assets rising 6 percent from December 2025 to Rs.97.5 billion by end-March”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 13: “the Stage 3 loans ratio improved to 6.44 percent from 8.18 percent in March 2025”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

help

Claim 14: “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.

help

Claim 15: “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.

info

Claim 16: “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.

travel_explore

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…

travel_explore

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…

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Claim 17: “The net loan book grew 6 percent during the quarter to Rs.67 billion, marking a 37 percent increase from a year earlier”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

info

Claim 18: “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.

travel_explore

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-…

travel_explore

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

schedule

Claim 19: “The total impairment charge fell to Rs.24 million from Rs.126 million a year earlier”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

info

Claim 20: “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.

travel_explore

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

travel_explore

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

Claim 21: “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…

travel_explore

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 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.