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National Savings Bank FY'15 profit jumps 26.2% YOY

Sri Lanka's NationalSavings Bank said its profit after tax for the full year ended Dec.31, 2015, rose 26.2% year over year to 8.7 billion rupees.

The bank reported interest income of 78.1 billion rupees, accordingto a press release obtained March 31. The bank's net interest income rose to 27billion rupees.

The bank attributed its growth in profitability to improved assetquality, an increase in net interest income and increased business volume. The bank'snonperforming loan ratio fell to 3.5% from 7.6% in 2014.

National Savings Bank's Tier 1 capital adequacy ratio stood at17.8%, while the total capital adequacy ratio was at 16.3%.

As of March 31, US$1 wasequivalent to 146.72 Sri Lankan rupees.