Picking Up

(L-R)- Mr. Waruna Sri Dhanapala, Acting Secretary, Ministry of Digital Economy; Dr. P. Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka; Hon. Chathuranga Abeyasingha, Deputy Minister of Industry and Entrepreneurship Development; Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy; Ms. Azusa Kubota, Resident Representative, UNDP in Sri Lanka; Hon. Eranga Weeraratne, Deputy Minister of Digital Economy; Hon. Professor Chrishantha Abeysena, Minister of Science and Technology in Sri Lanka; and Fadhil Bakeer Markar, Team Leader, Strategic Engagement, Digital and Innovation, UNDP Sri Lanka

However, the bank quote s net profits picked up 34 percent to Rs. 174.67 mn in 2002, as against Rs. 129.98 mn in the corresponding period, HNB said Wednesday.
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rnrnSri Lanka quote s largest private bank saw its group revenues fall 7 percent to Rs. 5.66 bn from Rs. 5.94 bn during the period under review. On the other hand, bank revenues dipped 5 percent to Rs. 5.53 bn.

rnrnldblquote Revenue adjustment that have to be made on account of the inter company transaction resulted in the group profits being less than that of the company, dblquote Chief Executive, Rienzie T Wijetillake told shareholders.

rnrnInterest expenditure rose 15 percent to Rs. 3.29 bn, while bad debts provisions increased by 3 percent to Rs.

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252.84 mn.

rnrnWijetillake said the prevailing low interest rate scenario helped the bank to lower its interest expenses leading to a 34 percent increase in net interest income of Rs. 1.29 bn.

rnrnThe period under review saw the Central Bank lower its benchmark rates several times and the market

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