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Nov 07, 2012 (LBO) - Sri Lanka's Commercial Bank's profits rose 11.
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5 percent to 2.3 billion rupees in the September 2012 quarter from a year earlier, despite a steep rise in interest expenses, interim accounts showed. Performing loans grew 12 percent to 310 billion rupees in the nine months to September. Non-performing loans grew 18.8 percent to 18.8 billion rupees in the period.
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Group gross assets grew 12.9 percent to 498 billion rupees.

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Commercial Bank is Sri Lanka's largest private bank.

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The group reported earnings of 2.

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76 rupees per share. Group profits for the nine months to September were 9.16 rupees per share on total profits of 7.
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6 billion rupees, which rose 25 percent from a year earlier.

The stock closed at 103.80 rupees unchanged on Wednesday.

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Interest income during the quarter rose 40 percent to 13.3 billion rupees and interest expenses rose at a faster 57 percent to 7.
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8 billion rupees, and the bank grew net interest income 21 percent to 5.5 billion rupees.

Loan loss provisions rose to 242 million rupees from compared to a write back of 180 million rupees a year earlier.

Fee income rose 2.2 percent to 1.58 billion rupees with forex income falling 51 percent to 276 mil

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