Sun, 23 Jan 2022 Today's Paper

HNB Grameen PAT tops Rs. 1 bn for the first time

30 June 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

Pioneers in microfinance HNB Grameen announced a stellar performance for the financial year ended 2015/16 with all key performance indicators showing strong year-on-year growth.
The company’s key operating results recorded the highest ever profitability in the history of the company, achieving a profit after tax of Rs. 1.11 billion, a 108 percent increase over the previous year. The company’s profit before tax also grew exponentially by 122 percent to Rs. 1.82 billion from Rs. 819 million earned last year. The total revenue of the company recorded a 58 percent growth, while net interest income also mirrored this trend recording a 66 percent increase. 
The company’s total assets recorded a 43 percent growth to Rs. 14.38 Billion, whilst loans and advances rose by 60 percent. The company’s deposit base grew by 38 percent to cross Rs. 10 billion and other income increased by 52 percent while savings recorded a growth of 56 percent for the year. The granting of a National Long-Term Rating of ‘A (lka)’ with a ‘Stable Outlook’ by Fitch Ratings in 2015 boosted customer confidence in the company and helped garner corporate customers who invested in the company’s deposit products.
Speaking about the performance of the company for the financial year 2015/16, Jonathan Alles, Chairman of HNB Grameen and Managing Director/CEO of Hatton National Bank PLC said, “We are extremely delighted to announce the outstanding performance of HNB Grameen during the year 2015/16.  With the synergies formed through the association with HNB, we have ‘grown together stronger’ and we comprehend that the ‘possibilities are bigger’ for us in the future.  As such, we remain focused and committed to continue our journey towards reaching the pinnacle.”
Commenting on the performance B. M. D. C. Prabhath, the Managing Director/CEO of HNB Grameen said, “One of the key priorities for the financial year was to top the Rs. 1 billion mark and we had employed several effective strategies to deliver this remarkable financial performance.”
In other financial indicators, HNB Grameen’s cost to income ratio significantly improved to 43 percent, while return on equity increased to 61 percent. The company has continuously focused on managing its NPA which reflected an exceptional non-performing assets ratio of 0.881 percent when compared with the industry ratio of 6 percent. The company’s earnings per share also recorded a steady growth of 110 percent. 
HNB Grameen significantly enhanced its reach this year, increasing its number of service centres from 11 to 21 for the year under review. This move helped the company grow its lending activities and broaden its client base by 15 percent during the year. The company also declared a dividend of 17 percent for the first time in its history and plans to list the company in the Colombo Stock Exchange by end 2016.

 

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.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  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.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


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




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.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


“US has a right to criticise and to be criticised” – Sam Brownback

The United States continues to police other countries on democracy and human

Indo-Lanka Accord, 13th Amendment and the Tamil March of Folly

Much concern is now being shown by political parties representing the minorit

How a Sri Lankan woman’s death shook Japan and pushed towards changes

Japan has long been internationally criticised for its refugee recognition an

Turmoil in Toronto as “Tigers” Target TNA Meeting

Last Saturday (Nov. 20) saw a group of self-styled political activists creat