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Wednesday October 5th, 2022

Sri Lanka’s NTB Bank net up 77-pct in Dec 22 quarter

ECONOMYNEXT – Profits at Sri Lanka’s Nations Trust Bank grew 77 percent from a year ago to 1.6 billion rupees in the December 2021 quarter amid lower operating expenses and bad loans, interim accounts show.

NTB group reported earnings of 5.57 rupees per share for the quarter.

In the year to December the group reported earnings of 22.20 rupees per share on total profits of 6.6 billion rupees which were up 65 percent.

In the December quarter net interest income gained 40 percent to 4.0 billion rupees, with interest income up 8 percent to 7.6 billion rupees and interest expense down 14 percent to 3.5 billion rupees.

Customer loans rose 18 percent to 247 billion rupees in the 12-months to December.

NTB Bank provided 1.24 billion rupees for loan losses in the quarter up from 1.17 billion rupees a year ago.

Impaired Stage 03 loans grew to 7.9 billion rupees by December 2021 from 6.8 billion 12 months ago.

The NPL ratio fell to 4.90 percent by December 2021 from 7.18 a year earlier.

Debt instruments marginally fell two percent to 26.1 billion rupees in the 12-months to December.

Customer deposits grew 11 percent to 267 billion rupees from 240 billion rupees a year earlier.

Gross assets grew 12 percent to 37.9 billion rupees in the 12-months to December.

Net assets grew 14 percent to 40 billion rupees from 35.1 billion rupees.

NTB’s Tier 1 capital ratio grew to 15.31 from 14.79 percent while Total capital adequacy ratio marginally down to 18.01 percent from 18.37 percent in the 12-months to December.
(Colombo/Mar01/2022)

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