Half
year results released recently on Hatton National Bank
shows an impressive performance by the bank recording
an income of Rs 17.6 Bn., a growth of 30% compared to
the corresponding period last year. This impressive
growth is ample testimony for the resilience of the
Bank to the less than conducive economic conditions
prevailing in the country.
HNB’s net interest income grew steadily to Rs 6.0
Bn., a growth of 13% during the first half of 2008 compared
with 2007 and non interest income grew by 39% to Rs
2.3 Bn from Rs 1.7 Bn. This enabled the Bank to improve
the Net Income from Rs 6.9 Bn to Rs 8.3 Bn., a growth
of 20%. During the 1st half 2008 entire operating expenses
bill was comfortably met by the net interest income
from core banking activities.
Bank’s
non interest expenses grew only by 6% to Rs 4.5 Bn during
the first half when compared to the same period in 2007.
Personnel costs have been well managed with an increase
of only 10% to Rs 1.7 Bn when compared to the same period
in 2007. The premises, equipment & establishment expenses
and other operating expenses too have been managed with
only an increase of around 10% despite high inflationary
conditions prevailed during the period.
Half
year results released recently on Hatton National Bank
shows an impressive performance by the bank recording
an income of Rs 17.6 Bn., a growth of 30% compared to
the corresponding period last year. This impressive
growth is ample testimony for the resilience of the
Bank to the less than conducive economic conditions
prevailing in the country.
