May, 13, 2023
Nations Trust Bank PLC reported a strong performance in the first 3 months of 2023 posting a Profit Before Tax (PBT) of LKR 5.8 billion, up 124% year-on-year (YoY) and a Profit After Tax (PAT) of 2.8 billion, up 77% YoY, supported by a 52% growth in Operating Income.
Commenting on the results, Hemantha Gunetilleke, Director and Chief Executive Officer of Nations Trust Bank said, “The Bank recorded a strong first quarter, highlighting steady growth across our customer segments. The Bank’s strong capital base, healthy liquidity buffers, robust risk management models and focus on digital empowerment are the fundamental strengths that continue to drive the Bank’s performance”.
Underpinning the Bank’s financial performance is its strong capital base with Tier I Capital at 16.26% and Total Capital Adequacy Ratio at 18.25%, which are well above the regulatory requirement of 8.5% and 12.5% respectively.
The Bank also maintained strong liquidity buffers with a Liquidity Ratio of 41% against the regulatory requirement of 20%.
The Bank’s Return on Equity (ROE) rose to a new high of 25.7% in the first quarter, significantly higher than the 17.1% during the same period last year. Accordingly, Earnings Per Share rose to LKR 8.74 compared to LKR 4.93 during the same period last year.
In the first 3 months of 2023, total tax paid by the bank increased by 194% to LKR3Bn, in line with the increase in tax rates compared to previous year coupled with higher profitability.
Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through an island wide network of 96 branches. The Bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka’s leading digital banking experience. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.
Video Story
