Sri Lanka's National Savings Bank posted a 26.3% year-over-year increase in profit for the first half ended June 30, helped by
The group on Aug. 20 reported a first-half profit attributable to equity holders rose of 2.64 billion Sri Lankan rupees, up from 2.09 billion rupees. EPS fell to 2.80 rupees from 3.12 rupees.
Net interest income for the half rose year over year to 13.95 billion rupees from 12.58 billion rupees, while net fee and commission income grew to 501.7 million rupees from 382.2 million rupees. Net gains from trading came to 1.08 billion rupees, compared to net losses from trading of 48.2 million rupees in the prior-year period.
Total operating income increased to 15.74 billion rupees from 13.30 billion rupees, while net operating income climbed to 15.22 billion rupees from 12.47 billion rupees. Operating profit after taxes rose to 4.82 billion rupees from 3.88 billion rupees.
Impairment charges fell to 524.6 million rupees from 828.5 million rupees.
The bank's stand-alone gross nonperforming advances ratio clocked in at 1.69% as of June 30, up from 1.44% at the end of 2018. Its net NPA ratio for the period rose to 1.40% from 1.22% at Dec. 31, 2018.
As of June 30, the group's total capital ratio stood at 15.994%, down from 16.882% at Dec. 31, 2018. Its Tier 1 and common equity Tier 1 ratios for the period both came to 13.530%, down from 14.140% for both ratios at the end of 2018.
As of Aug. 20, US$1 was equivalent to 178.05 Sri Lankan rupees.
