Nations Trust records resilient performance amidst challenges

The Bank closed the year with a post-tax profit of Rs. 2,536 million recording a growth of 19% over the corresponding period of last year. Core revenue recorded a faster rate of growth of 22% over operating expenses growth of 11%, thereby significantly improving operating margins.

However, higher impairment charges and introduction of new tax levies somewhat lowered bottom line growth. The sluggish growth witnessed in loans and advances portfolio during the 1H of the year which mirrored industry trends gradually picked up during the latter part of the year recording a growth of 19% compared to industry growth of 14%.

Growth was broad based across all lending portfolios. Deposits too grew in line to support expansion in lending with the most notable growth stemming from CASA which not only improved to 30% of total deposits from the previous year's 25%, but also achieved significant volume growth of 38%.