May 07, 2008 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) group profits grew 41 percent to 144.2 million rupees in the March quarter with total revenue growing by half, interim results filed with the stock exchange showed. Group revenue was up 50 percent to 2,991 million rupees and interest expense grew 58 percent to 1,939 million. Net interest income increased 39 percent to 662.7 million rupees compared to the same period in 2007.
NTB group’s foreign exchange transaction income increased 29 percent to 97 million and other income of the group increased 32 percent to 292.3 million rupees.
The provision for bad debt had more than doubled to 123 million rupees in the March quarter, compared to the same period in 2007.
Total deposits for quarter remained unchanged at 29 billion rupees and total assets increased 11 percent to 61.7 billion rupees.