Tripling Over

Hatton National Bank Ltd said Tuesday its full year group profits nearly tripled as it notched gains from its bond portfolio, despite hefty provisioning.
Group post-tax profits jumped to Rs. 1.571 bn for the year ending Dec. 31, 2003, from Rs. 486.976 mn during the corresponding period.rn

rnThe bank itself crossed the billion rupee mark for the first time in history to post a Rs. 1.008 bn in net profits.rn

rnRevenues during the period topped Rs. 15.158 bn from Rs. 12.033 bn reported in 2002.rn

rnBut the bacon came from its bond and treasury portfolio.rn

rnHNB Securities Ltd posted a Rs. 410 mn in post tax profits, HNB Assurance Rs. 36 mn and HNB Stockbrokers Rs. 32 mn after tax profits during the period under review.rn

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