Feb 28, 2011 (LBO) – Sri Lanka’s Hatton National Bank said group net profit for the December 2010 quarter was up two percent to 1.87 billion rupees from a year ago with sharp gains in fee income. A stock exchange filing said HNB’s group net profit for the full financial year ending December 31, 2010 rose seven percent to 4.79 billion rupees. Diluted annual earnings per share were 20.07 rupees compared with 19.02 the year before.
HNB’s Board of Directors has recommended the payment of a final dividend of 5.50 per share for the year which is to be approved at the Annual General Meeting on March 31, 2011.
Diluted earnings per share for the December 2010 quarter were 7.79 rupees compared with 7.76 rupees the previous year.
Total performing loans rose 22 percent to 197 billion rupees as at December 31, 2010 from the previous year while total assets rose 13 percent to 323 billion rupees and total deposits rose 11 percent to 237 billion rupees.
HNB’s net non-performing advances ratio net of interest in suspense and provisions fell to 1.96 percent as at December 31, 2010 from 2.91 percent the year before.
The interest margin fell to 5.35 percent as at December 31, 2010 from 5.45