Higher impairment charges caps NTB’s 1Q growth

14 May 2015 07:22 am - 0     - {{hitsCtrl.values.hits}}

A A A

The net profit of Nations Trust Bank PLC (NTB), a unit of premier blue-chip John Keells Holdings edged down 9 percent year-on-year (YoY) to Rs.450 million amid higher impairment charges.

The earnings per share deteriorated to Rs.1.95 from Rs.2.14 reported in the same quarter of the previous year.

The net interest income grew a moderate 9 percent YoY to Rs.2.2 billion while net fees and commission income, supported by bank’s strong credit card operations grew 21 percent YoY to Rs.747.6 million.
 

"The net interest income grew a moderate 9 percent YoY to Rs.2.2 billion while net fees and commission income, supported by bank’s strong credit card operations grew 21 percent YoY to Rs.747.6 million"



The impairment charges for the quarter rose 72 percent YoY to Rs.529.5 million.

“This is primarily due to a one-off charge where specific facilities have been fully provided,” the bank said.

The bank however was able to curtail its expenses, with operating expenses during the quarter under review increasing only by 5 percent YoY to Rs.1.5 billion.
The personal expenses remained flat at Rs.657.6 million.

The total assets of the bank fell to Rs.151.7 billion from Rs.159 billion as at December 31, 2014.

The bank only reported a loan growth of 2 percent to Rs.99 billion. The deposits base remained static at Rs.110.4 billion.

Both gross and net non-performing ratios rose to 4.53 percent and Rs.2.91 percent, respectively.

The capital position of the bank was sound at Rs.17 billion with capital adequacy ratios both at Tier 1 and II maintained at comfortable levels. 
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




“I don’t think Sri Lankans can be realistically ruled by force” -Ahimsa Wickrematunge

Twelve years after the assassination of Lasantha Wickrematunge, the founding

Decisions to be made in Sri Lanka’s hunt for the COVID-19 Vaccine

Around the world, governments are gearing up to roll out nationwide immunizat

“I am the Godfather of Russian tourists” - Udayanga Weeratunga

Former Sri Lankan Ambassador to Russia Udayanga Weeratunga is back in the sce

Sri Lankan migrant workers still in limbo

Sri Lanka’s migrant workers are a significant part of our economy, with the

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.