The financial year ended 31 December 2016 was the first full year of operations after the amalgamation of DFCC Bank with DFCC Vardhana Bank, which took place on 1 October 2015. The expectations were that the amalgamated bank would reach new financial and other thresholds as a result of a successful blending of development banking and commercial banking, coupled with significant synergies. This was borne out by the record results for the period, where DFCC’s Profit After Tax (without extraordinary capital gains) crossed the Rs. 3 billion mark for the first time in the bank’s history.