Nations Trust Bank (NTB) is in talks with foreign parties in a bid to raise funds for their tier two capital, officials said. “We are discussing with different parties, many of whom are development finance institutions,” Saliya Rajakaruna, CEO NTB told the Business Times on the sidelines of an Investor Forum to launch its results. Tier two capital is capital which can absorb losses in the event of a bank winding-up.
He also said that NTB plans to set up four new branches during the coming quarter while adding upto 10 branches in 2012 bringing the total branch network to 60 service points by the end of next year.
He also added that most new branches are to be opened outside the western province moving from its “western province bank” model to a “nationwide” bank. This, he said will launch NTB to the mass market as well from its city centric model.
NTB recorded a net income of Rs 1.7 billion during the third quarter. NTB managed to post 38% year on year growth in profit to Rs 1.2 billion during the first nine months of 2011. Mr. Rajakaruna added that next year NTB will focus on the masses and the SME sector with their branch expansion.
NTB plans to launch a customer centric unique selling proposition to capture the growing SME sector as well. The bank's prime focus is an aggressive service oriented business model to meet working capital and trade financing requirements. |
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