Banking and Finance

Strong 1H 2024 Performance from Nations Trust Bank PLC

• Operating Income of LKR 24 Bn. up 8% YoY

• Profit After Taxes of LKR 8 Bn. up 31% YoY

• Total Capital Adequacy Ratio of 17.83%,

• Return on Equity 24.7%

Nations Trust Bank PLC reported a strong performance in the first half of 2024, achieving a Profit After Tax (PAT) of LKR 8 Bn, up 31% YoY.

Commenting on the results, Hemantha Gunetilleke, Director & Chief Executive Officer of Nations Trust Bank said “The Bank recorded a strong first half, highlighting continued growth across our customer segments. The Bank’s strong capital base, healthy liquidity buffers, robust risk management models and continued focus on digital empowerment are the fundamental strengths that continue to drive the Bank’s performance”

The bank’s financial performance is supported by its strong capital position, with Tier I Capital at 16.62% and a Total Capital Adequacy Ratio of 17.83%, well above the regulatory requirements of 8.5% and 12.5%, respectively.

A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 298% against the regulatory requirement of 100%.

The Bank reported a Return on Equity (ROE) of 24.7%, while it’s Earnings Per Share for the 1H2024 increased to LKR 24.60, against LKR 18.76 recorded during the same period last year.

Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through multi-channel customer touch points spanning both physical and digital. The Bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka’s leading digital banking experience. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.