May 15, 2013 (LBO) – Profits at Sri Lanka’s Nations Trust Bank rose 15 percent to 501 million rupees in the March 2013 quarter helped by fee and fund based income, interim accounts show. The bank reported earnings of 2.18 rupees per share.
NTB group’s interest income rose 35 percent to 4.35 billion rupees and interest expenses rose at a faster 45 percent, but the bank also grew net interest income 21 percent to 1.7 billion rupees.
Fee and commission income rose 15 percent to 537 million rupees. Trading income was a negative 79 million rupees in the March quarter from a positive 80 million rupees a year earlier.
Loans continued to grow a strong 6 percent in the quarter to 77 billion rupees while financial instruments held to maturity fell 31 percent to 7.0 billion rupees.
Loan loss provisions fell 49 percent to 84 million rupees.
NTB said its gross non-performing loan ratio rose to 3.15 percent by end March 2013 from 2.86 percent in December.
Deposits were flat 86 billion rupees.
Net assets were flat at 10.1 billion rupees.
NTB’s core capital adequacy ratio at group level fell 12.09 percent in March from 13.82 percent in December. Total capital