NTB deposit base rising, says greater confidence in bank

The Nations Trust Bank (NTB) and its fully owned subsidiaries have posted impressive results both in profitability and business volumes, for the six months ended June 30, 2007.

The group’s pre- and post-tax profits were Rs. 336 million and Rs. 193 million, respectively for the six month period, against Rs. 244 million and Rs. 133 million respectively, in the same 2006 periood.

All business segments of the bank that encompass Retail Banking, Corporate and Wholesale banking, Treasury, Leasing and Credit Cards reported improvements in performance during the period. Deposits grew from Rs. 20.9 billion as at December 31, 2006 to Rs. 26 billion as at June 30, 2007 while net loans and advances grew from Rs. 27 billion to Rs. 31 billion. Foreign exchange income and other operating income too recorded impressive growth during the period.

Zulfiqar Zavahir, NTB Director / Chief Executive Officer said the bank has been aggressive ‘in our growth, risk management and ensuring the long-term stability of the bank, have been paramount in all our strategies, which has contributed significantly to the strong position we are in today.”