JKSB: Quarterly Highlights: People's Leasing & Finance PLC (PLC): 4QFY...

PLC Group reported a steep 49.7% decline in earnings for 4QFY19 mainly due to i) significantly larger impairment charges (Rs.457mn through a +159.7% YoY increase) reflecting increasing NPLs and the change in accounting standards from LKAS 39 to SLFRS 9, ii) a 50.9% YoY increase in taxes on financial services predominantly from the introduction of the Debt Repayment Levy and a 66.4% YoY increase in income tax expenses, iii) a worsened cost to income ratio (38.8% in 4QFY18 vs. 45.1% in 4QFY19) due...