The Nations Trust Bank has closed the first quarter ending March 31, 2017 with a post-tax profit of Rs.725 million, up by 22 percent over the corresponding period in the previous year.
Pre-tax profits increased by 33 percent. Profitability growth was underpinned by a 9 percent growth in loans and advances during the period under review despite the narrowing of net interest margins, the bank said.
CEO and Executive Director Renuka Fernando said the performance of the first quarter was well balanced across the business pillars with support functions collaborating and equally contributing towards the growth and achievements in the businesses. SME and corporate loan portfolios recorded good growth during the quarter thereby cementing a strong base for further growth in the ensuing months. CASA growth was significant for the quarter recording a 10 percent growth and contributing to 25 percent of the total deposit growth.
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