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Monday November 29th, 2021
Banking

Sri Lanka’s Hatton National Bank net up 124-pct

ECONOMYNEXT – Profits at Sri Lanka’s Hatton National Bank, which also has an insurance unit, grew 124 percent from a year earlier to 4.7 billion rupees in the June 2021 quarter helped by a growth in net interest income and fee based income including forex gains.

The group reported earnings of 9.03 rupees per share for the quarter.

In the 6 months to June the group reported earnings of 18.02 rupees on total profits of 9.4 billion
rupees, up 83 percent from a year earlier.

HNB said it made an exchange gain of 3.4 billion rupees in the first half of 2021 up from 1.5 billion a year ago due to currency depreciation and lower swap volumes.

Net fee and commission income grew 55 percent to 2.2 billion rupees.

Other operating income grew to 2.4 billion rupees from 219 million rupees in the quarter.

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