Sri Lanka’s NTB net down 19-pct in Dec 20 quarter
ECONOMYNEXT – Profits at Sri Lanka’s Nations Trust Bank fell 19 percent from a year ago to 946 million rupees in the December 2020 quarter, despite forex gains as net interest income fell, interim accounts show.
NTB group reported earnings of 3.33 rupees per share for the quarter. In the year to December the group reported earnings of 14.29 rupees per share on total profits of 4.0 billion rupees which were up 9 percent.
In the December quarter net interest income fell 32 percent to 2.8 billion rupees, with interest income down 26 percent to 7.0 billion rupees and interest expense down 22 percent to 4.1 billion rupees.
Customer loans fell seven percent to 210 billion rupees in the 12-months to December.
NTB Bank provided 1.17 billion rupees for loan losses in the quarter up from 805 million rupees a year ago.
Impaired Stage 03 loans grew to 6.8 billion rupees by December 2020 from 6.2 billion 12 months ago.
The NPL ratio increased to 7.2 by December 2020 from 6.2 a year earlier.
Debt instruments grew 40 percent to 26.6 billion rupees in the 12-months to December.
Customer deposits grew six percent to 240 billion rupees from 226 billion rupees a year earlier.
Gross assets grewfour percent to 33.7 billion rupees in the 12-months to December.
Net assets grew 12 percent to 35.1 billion rupees from 31.3 billion rupees.
NTB’s Tier 1 capital ratio grew to 14.79 percent from 13.3 percent while Total capital adequacy ratio grew to 18.73 percent from 17.96 percent in the 12-months to December. (Colombo/ Feb 28/2021)