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HNB Group records Rs 18.8 Bn in PAT for 9 months

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Nihal Jayawardene Chairman HNB (L) / Jonathan Alles, Managing Director (R)

Hatton National Bank PLC posted a profit before tax of Rs 26.3 Bn and a profit after tax of Rs 16.6 Bn during the nine months ended September 2023. The Group recorded a consolidated PBT and PAT of Rs 29.0 Bn and Rs 18.8 Bn, respectively for the period.

Commenting on the performance, Nihal Jayawardene, Chairman of HNB PLC, stated that “Sri Lanka has progressed well during the year with signs of recovery as indicated by most macro-economic variables. While we remain positive on the country’s journey ahead, as a premier bank in Sri Lanka, we are delighted to have surpassed Rs 1.5 trillion in deposits. It is noteworthy to mention that a growth of Rs 500 Bn in deposits, has been achieved since June 2021, and we would like to place on record our sincere gratitude to our valued customers for their unwavering trust and confidence, despite extremely turbulent macro conditions experienced during this period”.

The Bank’s interest income recorded a YoY growth of 63.5%, reaching Rs 220.7 Bn during the first nine months, in the background of a sharp decline in interest rates during the third quarter. Interest expense increased at a faster pace of 115% YoY, resulting in a 17.1% YoY growth in net interest income which improved to Rs 83.2 Bn. Bank’s net fee and commission income grew by 6.3% YoY to Rs 11.7 Bn primarily fueled by cards and digital channels. The appreciation in the Sri Lankan rupee against the US dollar by approx. 12%, during the period resulted in the Bank having to record an exchange loss of Rs 2.5 for the nine months.

HNB continued to maintain its asset quality well above the industry, with net stage 3 ratio at 4.9% and stage III provision cover at 50.7%. The Bank recognised a total impairment charge of Rs 32.4 Bn during the first nine months of 2023, which comprised of impairment on account of loans and advances and foreign currency denominated government securities.

HNB’s cost to income ratio stood at 28.5% for the nine months, despite, operating expenses increasing by 16.1% YoY to Rs 26.5 Bn mainly driven by inflationary pressure.

Jonathan Alles, Managing Director /Chief Executive Officer of HNB PLC stated that, “As the country displays signs of recovery, we are pleased to record robust overall performance for the nine months, which outlines the proactive and prudent actions taken during adverse times. I would like to extend my heartfelt gratitude to the entire team at HNB for their continued dedication and commitment amidst many challenges.”

“We believe that the external debt restructuring programme would also be concluded soon, taking in to account the strain on the banking sector, which has incurred significant impairment charges of nearly Rs 580Bn since 2022 and the increased effective tax rate of over 50% for the industry.’’



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APHNH aims to make Sri Lanka more competitive for healthcare investment

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Deputy Minister of Health and Mass Media, Dr. Hansaka Wijemuni addresses the audience

Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.

The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.

The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.

A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.

“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “

The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.

By Sanath Nanayakkare

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Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students

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Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.

The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.

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John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations

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Representing JKLL: Lasitha Manchanayake: CEO, Dilum Liyanage: Snr. Manager - Transport Operations, Kavinda Jayasinghe: Manager - Operations and Randi Peiris: Asst. Manager - Commercial. Representing the John Keells Group: Zafir Hashim: President - Transportation, Plantations and IT Sectors and Asha Perera: CFO. Representing CWIT: Munish Kanwar: CEO, Iresh Siriwardena: COO, Devanshu Bhatia: Head of Techno Commercial, Madhuranga Wijesekara: In Charge - GATE Process, Sandun Niroshan: Duty Manager.

John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.

Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.

The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.

The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.

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