NTB continues growth momentum

Nations Trust Bank closed the six-month period ending June 30, 2011, at the group level, with pre-tax profits of Rs.1,124m, up 19 percent over the corresponding period in 2010 while post-tax profits grew from Rs.494m to Rs.736m, an increase of 49 percent.

The group's net revenue recorded a 5 percent increase over the previous year due to the increase in non-funds based income. The group's net interest income was fractionally below the previous year due to narrowing margins though this impact was mitigated by the growth in business volumes, timely re-pricing of deposits and a shift in the deposit mix towards low cost funds.