Rural Savings

Mar 16, 2012 (LBO) - Sri Lanka's state-owned National Savings Bank disbursed more loans through branches in 2011 than in the past after it decentralised lending, chief executive H M Hennayake Bandara said.



In the year ended December 31, 2011, interest income fell 1.


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4 percent to 43.2 billion rupees while interest expenses fell at a faster 6.



5 percent to 30.1 billion rupees, enabling net interest income to rise 12.



4 percent to 13.1 billion rupees.

The bank's interest margin fell to 3.

8 percent from 4.4 percent the year before

NSB's non-interest income fell 39 percent to 4.7 billion rupees in 2011 from the year before.

Provision for bad loans fell 25 percent to 78 million rupees.

NSB also made provision of almost 1.2 billion rupees for the fall in the market value of investments.

Total performing loans and advances grew 33 percent to 112 billion rupees as at December 31, 2011 from a year ago and total deposits rose 16 percent to 411 billion rupees.

NSB aims to raise deposits from people in rural areas and give it back through housing and personal loans to the same people, he said.

"In 2011 we disbursed more loans through our branches than in the past because we have decentrali