NTB’s sound performance amidst volatile conditions
View(s):Nations Trust Bank (NTB) has ended the third quarter 2021 with a strong performance, continuing the trend demonstrated in the first half of the year. The loan book recorded 18 percent growth during the nine months ended 30th September 2021 against the private sector credit growth of 10.6 percent during the same period of the year, amidst the challenging business environment, the bank said in a media release.
The group recorded a Profit Before Tax of Rs.7.46 billion, a growth of 27 percent for the nine months compared to the previous year, despite the challenging operating environment experienced during the period, it said.
NTB raised US$65 million from overseas development finance institutions during the year to support the SME sector.
Commenting on the results, Priyantha Talwatte, CEO/Director said: “With the nation-wide vaccination programme successfully being rolled out, there is an expectancy of a rapid return to economic normalcy, and NTB is fully geared to steer ahead more responsively to the external environment by prioritising customer requirements.”
Supporting the loan growth and economic recovery efforts, average yields on loans reduced by 350bps.