HNB Group post tax profits soar 115% to Rs. 741 m

Hatton National Bank (HNB), Sri Lanka's premier private sector commercial Bank, continues its robust performance by recording a 118% rise in pre-tax profits to Rs. 1,172 million in the three months to March 2008.

Commenting on the performance, HNB's Chief Financial Officer Nihal Kekulawela said "We are extremely pleased with such consistent performance which has been sustained during the past thirteen successive quarters.

Our team's focus on balancing business growth with profitability, improving productivity, managing costs, and enhancing asset quality has contributed towards this performance".

Net interest generated from interest bearing assets has increased by 37% while Non interest income showed a growth of 16%. The three months have also seen the entire operating expense bill of Rs. 2.19 bn being comfortably met by

The Group too has delivered exceptional results with the after tax profits recording a 115% increase to Rs. 741 mn.