NTB delivers strong performance in 1H2023
View(s):Nations Trust Bank PLC (NTB) reported a strong performance in 1H2023 posting a Profit Before Tax (PBT) of Rs. 12.6 billion, up 174 per cent year-on-year (YoY) and a Profit After Tax (PAT) of Rs. 6.1 billion, supported by a 35 per cent growth in Operating Income (YoY).
In a media release, Hemantha Gunetilleke, Director & Chief Executive Officer of Nations Trust Bank said, “The bank recorded a strong first half, highlighting steady growth across our customer segments. The bank’s strengths lie in its continued focus on digital empowerment, robust risk management models and a strong capital base, in addition to healthy
liquidity buffers.”
Supporting the bank’s financial performance is its strong capital position with Tier I Capital at 15.35 per cent and Total Capital Adequacy Ratio at 17.17 per cent, well above the regulatory requirement of 8.5 per cent and 12.5 per cent respectively.
During 1H2023 loan impairment charges reduced by 56 per cent, reflecting the bank’s dedication to prudent risk management practices and due to the absence of high impairment charges booked in the previous year in relation to foreign currency denominated government securities.
The bank reported a Return on Equity (ROE) of 24.9 per cent, while its Earnings Per Share for the 1H23 increased to Rs. 19.14, against Rs. 8.45 recorded during the same period last year.
During the reporting period, the bank’s tax expenses increased by 239 per cent to Rs. 6.5 billion, due to the increase in earnings and in line with the increase in tax rates from the fourth quarter of the preceding year.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!