Trippling Over

Hatton National Bank Ltd said on Thursday nine-month group profits nearly tripled as it notched gains from its bond portfolio and saw a pick up in credit demand.
Group post-tax profits jumped 229 percent to Rs. 1.192 bn for the nine months ending September 30, 2003, from Rs. 368.532 mn during the corresponding period.rn

rnRevenues during the period grew 30 percent to Rs. 11.159 bn from Rs. 8.605 bn reported in 2002. rn

rnSri Lankas largest private bank saw its customer deposits grow 14 percent to Rs. 110.478 bn for the first nine months.rn

rnldblquote An economic recovery, mainly from tourism and property helped drive our profits,
dblquote Chief Executive Officer, Rienzie T Wijetilleke told Lanka Business Online.rn

rnNet profits from subsidiaries also helped lift profits, Wijetillake said.rn

rnHNB Securities Ltd posted a Rs. 442 mn in post tax profits, HNB Assurance Rs. 21 mn and HNB Stockbrokers Rs. 27 mn after tax profits during the period under review.rn

rnHowever, the bank provided ov