Bank Gains

Mar 01, 2013 (LBO) – Profits at Sri Lanka’s Hatton National Bank rose 41 percent to 3.1 billion rupees in the December 2013 quarter from a year earlier, helped by higher net interest income and fee income, interim accounts showed. The group reported earnings of 7.93 rupees per share for the quarter. In the year to December it reported earnings of 20.33 rupees per share on total profits of 8.0 billion rupees, which rose 32 percent.

Fee income rose 28 percent to 2.28 billion rupees with forex income rising 64 percent to 368 million rupees and other income rising 23 percent to 1.9 billion rupees.

In the December quarter interest income rose 46 percent to 13.5 billion rupees and interest expenses rose at a faster 66 percent to 7.9 billion rupees, and the bank grew net interest income 25 percent to 5.57 billion rupees.

The bank provided 402 million rupees for loan loss provision, up from a reversal of 289 million rupees a year earlier.

Update I .