NTB in favourable Q1 performance
View(s):Nations Trust Bank PLC (NTB) has reported a favourable performance in the first three months of 2024, posting a Profit Before Tax (PBT) of Rs. 7.5 billion, up 28 per cent year-on-year (YoY) and a Profit After Tax (PAT) of Rs.3.7 billion, up 35 per cent YoY.
Commenting on the results, Hemantha Gunetilleke, Director/CEO of NTB 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 continued focus on digital empowerment are the fundamental strengths that continue to drive our performance”.
In a media release, the bank said underpinning the bank’s financial performance was its strong capital position with Tier I Capital at 17.33 per cent and Total Capital Adequacy Ratio of 18.76 per cent, well above the regulatory requirement of 8.5 per cent and 12.5 per cent respectively.
NTB also maintained strong liquidity buffers with a Liquidity Ratio of 45 per cent against the regulatory requirement of 20 per cent.
The bank’s Return on Equity (ROE) increased from 21.3 per cent in December 2023 to 24 per cent% in 1Q2024. Accordingly, Earnings Per Share rose to Rs.11.58 compared to Rs.8.56 during the same period last year.
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