Strong 1H 2024 performance from Nations Trust Bank

Thursday, 15 August 2024 00:05 - - {{hitsCtrl.values.hits}}

Operating income of Rs. 24 b, up 8% YoY
Profit After Tax of Rs. 8 b, up 31% YoY
Total Capital Adequacy Ratio of 17.83%
Return on Equity 24.7%

Chairperson Sherin Cader

Director/Chief Executive Officer Hemantha Gunetilleke

Nations Trust Bank PLC reported a strong performance in the first half of 2024, achieving a Profit After Tax (PAT) of Rs. 8 billion, up 31% YoY.

Commenting on the results, Nations Trust Bank Director and Chief Executive Officer Hemantha Gunetilleke said: “The bank recorded a strong first half, highlighting continued growth across our customer segments. The bank’s strong capital base, healthy liquidity buffers, robust risk management models, and continued focus on digital empowerment are the fundamental strengths that continue to drive the bank’s performance.”

The bank’s financial performance is supported by its strong capital position, with Tier I Capital at 16.62% and a Total Capital Adequacy Ratio of 17.83%, well above the regulatory requirements of 8.5% and 12.5% respectively.

A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 298% against the regulatory requirement of 100%.

The bank reported a Return on Equity (ROE) of 24.7%, while its Earnings Per Share for the 1H2024 increased to Rs. 24.60, against Rs. 18.76 recorded during the same period last year.