Sri Lanka's National Savings Bank posted a year-over-year rise in net profit for the quarter ended March 31 as it swung back to net trading gain.
The lender said May 23 that net profit attributable to equity holders rose to 1.84 billion Sri Lankan rupees, from 1.78 billion rupees in the year-ago period. EPS for the quarter slipped to 2.75 rupees from 2.87 rupees.
It also posted a net gain from trading of 63.6 million rupees, compared to a net trading loss of 29.2 million rupees a year earlier. The group's interest margin clocked in at 2.75% as of the end of March, up from 2.60% at the end of 2017.
Net interest income grew to 7.02 billion rupees from 5.98 billion rupees in the first quarter of 2017, while net fee and commission income jumped to 164.6 million rupees from 158.3 million rupees.
Total operating income for the period came to 7.46 billion rupees as of end-March, up from 6.26 billion rupees in the prior-year period. Net operating income also rose to 7.23 billion rupees from 6.17 billion rupees.
As of March 31, the group's total capital ratio slipped to 14.59%, from 16.00% as of Dec. 31, 2017. Its common equity Tier 1 and Tier 1 capital ratios each stood at 11.60%, down from 12.65% over the same period.
The lender's gross nonperforming advances ratio inched up to 1.47% as of March 31, from 1.34% at the end of 2017. Its net nonperforming advances ratio rose to 1.33%, from 1.22% at end-2017.
As of May 23, US$1 was equivalent to 157.85 Sri Lankan rupees.
