Growth in NTB’s results
View(s):Nations Trust Bank PLC has reported a strong performance in the first three months of 2023 posting a Profit Before Tax (PBT) of Rs.5.8 billion, up 124 per cent year-on-year (YoY) and a Profit After Tax (PAT) of Rs.2.8 billion, up 77 per cent YoY, supported by a 52 per cent growth in Operating Income.
Commenting on the results, Hemantha Gunetilleke, Director and Chief Executive Officer of Nations Trust Bank said, “The bank recorded a strong first quarter, highlighting steady growth across our customer segments. The bank’s strong capital base, healthy liquidity buffers, robust risk management models and focus on digital empowerment are the fundamental strengths that continue to drive the bank’s performance”.
Underpinning the bank’s financial performance was its strong capital base with Tier I Capital at 16.26 per cent and Total Capital Adequacy Ratio at 18.25 per cent, which are well above the regulatory requirement of 8.5 per cent and 12.5 per cent respectively, according to a bank statement.
The bank’s Return on Equity (ROE) rose to a new high of 25.7 per cent in the first quarter, significantly higher than the 17.1 per cent during the same period last year. Accordingly, Earnings Per Share rose to Rs.8.74 compared to Rs.4.93 during the same period last year.
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