Clean Up

Hatton National Bank said Friday its group net profits rose to 486,976 mn despite a hefty 25 percent provisioning for its bad and doubtful debts.
Sri Lankas largest private bank said group income grew 3 percent to Rs. 11.284 bn from Rs. 10.916 bn in 2001.rn

rnThe fee and commission income picked up 22 percent to Rs. 749.01 mn, while other income rose 29 percent to Rs. 1.478 bn in 2002.rn

rnldblquote The bulk of our income came from our treasury and equity portfolio,
dblquote HNB DGM, Duleep Daluwatte told LBO.rn

rnldblquote Our income from the bond portfolio brought in about Rs. 200 mn, while the sale of part of our Sampath Bank portfolio also brought in over Rs. 200 mn, in addition to profits from our equity portfolio,
dblquote Daluwatte explained.rn

rnHNB made a hefty 25 percent provisioning of Rs. 864.7 mn for its doubtful debts, the highest in its history so far.rn

rnldblquote We sacrificed some of our profits to make our biggest provisioning so far,
dblquote he said.rn

rnDaluwatte s