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HNB Group reports PAT of Rs. 16.7 bn

Group assets cross Rs 1 trillion, deposits surpass Rs 700 bn
Attributes growth to digital and customer service excellence



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HNB successfully weathered the challenges that arose in 2017 while leveraging upon new growth opportunities to post a profit after tax (PAT) of Rs 16.5 Bn reflecting growth of 16.4% Year-on-Year (YoY). Group PAT improved to Rs 16.7 Bn while the Group’s asset base crossed the Rs 1 trillion milestone, during the year.

In 2017 HNB was recognized domestically and internationally for its outstanding performance and was crowned the ‘Best Bank in Sri Lanka’ by the coveted Banker Magazine UK.

CASA growth of Rs 23.4 Bn during the year was a key achievement given the industry wide decline in CASA ratios as high interest rates attracted funds into fixed deposits. Nevertheless through concerted efforts HNB successfully maintained its CASA ratio while focusing on profitable business segments. As a result the Bank’s Net Interest Margins (NIM) increased from 4.80% in 2016 to 4.87% in 2017.

The bank’s Fee & Commission income grew by 18% YoY in 2017, strongly supported by rapid growth in digital payments and channels in addition to the growth in Trade Finance. During the period under review, the revenue from digital payment platforms and channels accounted for 30% of the total Net Fee & Commission income of the Bank. This included fees associated with cards, ATM and electronic banking transactions.

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