Banking Gains

August 08, 2007 (LBO) – Sri Lanka’s Hatton National Bank (HNB) group has reported a 35 percent increase in net profit to 682 million rupees for the second quarter ended June 2007 with provision for bad loans also increasing. The HNB group revenues were up 41 percent to 7.78 billion rupees, the bank said in results released to the Colombo Stock Exchange.

Interest income rose at the same rate to 6.6 billion rupees.

HNB, one of the bigger private commercial banks, also said foreign exchange income was up 50 percent to 257 million rupees.

Group assets grew 11 percent to 229.3 billion rupees, with net assets of the parent bank growing 27 percent to 16.3 billion.

It’s performing loan book grew 12 percent to 140 million rupees and non-performing loans by 10 percent to 11.3 billion. Provision increased 40 percent to 161 million rupees.