Hatton Profits

Nov 28, 2008 (LBO) – Sri Lanka’s Hatton National Bank group profits were up 6 percent to 807.3 million rupees with revenues up 16 percent to 9,665.3 million rupees in the 9-months to September, accounts filed with the Colombo Stock Exchange showed.

Group gross assets were 256.5 billion rupees, up 6 percent from December 2007 and net assets were up 5 percent to 22.4 billion rupees.

At stand alone bank level, net profits were up 27 percent to 989.9 million rupees on revenues of 9,374 million rupees, up 20 percent.

Group interest income grew 14 percent to 8,145 million rupees and interest expense 18 percent to 5,112 million rupees, while net interest income grew at a slower 9 percent to 3,042 million rupees.

Fee income grew 24 percent to 1,510 million rupees, with forex exchange income down 4 percent to 271.2 million rupees. But other non-specified income was up 33 percent to 1,239 million rupees.

Loan loss provisions were up 14 percent to 156.1 million rupees.

In the nine months to September group profits were up 18 percent to 1,787 million rupees, with revenues growing 23 percent to 18.1 billion rupees.

Total performing loans were up 2 percent to 155.2 billion rupees. Government securities holding held to matu