Sri Lanka’s NTB profits down 12-pct in March quarter

ECONOMYNEXT – Profits at Sri Lanka’s Nations Trust Bank fell 12 percent from a year ago to 1.5 billion rupees in the March 2022 quarter as impairment charges on loans and moratoriums, interim report showed.

NTB group reported earnings of 5.23 rupees per share for the quarter.

In the March quarter net interest income gained 46 percent to 4.7 billion rupees, with interest income up 21 percent to 8.5 billion rupees and interest expense marginally up 1 percent to 3.8 billion rupees.

Customer loans and advances rose 101 percent to 1.3 billion rupees in the 3-months to March.

NTB Bank provided 2.3 billion rupees or 259 percent for loan losses in the quarter up from 644 million rupees a year ago.

Net fee and commission income grew 21 percent to 1.8 billion rupees.

Tradings grew 9.3 billion rupees or 652 percent in March quarter compared to 1.2 billion rupees in the previous quarter mainly from Treasury functions.

Debt instruments up 19 percent to 31.2 billion rupees in the three months to March.

Customer deposits grew 10 percent to 294 billion rupees from 267 billion rupees a year earlier.

NTB’s Tier 1 capital ratio fell to 12.23 from 15.31 percent while the Total capital adequacy ratio down to 14.51 percent from 18.01 percent in the three months to March.

(Colombo/May16/2022)