NTB records sharp impairment costs

Business

Nations Trust Bank PLC has recorded a steady performance at the end of 1H2022, achieving operating income of Rs.16.6 billion at a year-on-year growth rate of 50 per cent.

Profit before Income tax for the six months ended June 30, 2022 was Rs.3.4 billion, down by 12 per cent from Rs.3.9 billion in the corresponding 2021 period, according to the company’s accounts.

Impairment charges rose sharply to Rs.6.8 billion, up by 416 per cent from Rs. 1.3 billion in the same 2021 period.

Commenting on 1H2022 results, Hemantha D Gunetilleke, Director & Chief Executive Officer, stated, “Considering the challenging economic environment, our primary objective was to ensure we provide uninterrupted banking and service excellence to our customers across our branch network. Our advanced digital banking solutions have proved to be extremely useful in our customer reach with digital transactions reaching 89 per cent of all banking transactions.”

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 475 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 444 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 344 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 29, 2025

- 259 - 0

Mahindananda and Nalin Fernando Jailed

Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.

May 30, 2025

- 254 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 183 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.