NSB Continued to Prove its Resilience within an Economic Shudder
Business Today Sri Lanka|May 2024
NSB demonstrated its mettle by recording a Profit after Tax (PAT) of 7.2 billion rupees for the fiscal year ended December 31, 2023.
NSB Continued to Prove its Resilience within an Economic Shudder

This achievement is a testament to the adept management and highly skilled workforce of NSB.

The Banks’ impressive achievement of 7.2 billion rupees in Profit After Tax (PAT) was mainly attributed to a 31 percent surge in Interest Income. The Bank strategically allocated more than 60 percent of its customer deposits towards investing in Government Debt Securities, capitalizing on the higher interest rates that were prevalent in 2022.

This prudent investment strategy yielded a substantial interest income of 137.7 billion rupees, which was an upswing of 36 percent. Interest received through Loans and Advances also grew by 36.3 percent, resulting in an increment of 23.4 billion rupees.

At the group level, the net gain from trading has increased significantly to 3.7 billion rupees, marking a 206 percent rise from the previous year’s trading loss. The credit for this remarkable turnaround goes to NSB, which has exhibited exceptional professionalism, due care, and commitment in identifying and capitalizing on market opportunities. This achievement underscores NSB’s ability to steer its operations with agility and astuteness, even in the face of a challenging market environment.

Diese Geschichte stammt aus der May 2024-Ausgabe von Business Today Sri Lanka.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der May 2024-Ausgabe von Business Today Sri Lanka.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS TODAY SRI LANKAAlle anzeigen
Vision Care Expands Branch Network with New Wennappuwa City branch
Business Today Sri Lanka

Vision Care Expands Branch Network with New Wennappuwa City branch

Vision Care opened its newest branch in Wennappuwa, further expanding its network of accessible, top-quality vision care services across the country.

time-read
1 min  |
November 2024
HNB Wins' Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs'
Business Today Sri Lanka

HNB Wins' Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs'

HNB was honored with the titles of 'Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs at the Euromoney Awards for Excellence 2024.

time-read
1 min  |
November 2024
People's Bank 'People's Pay' App Now Offers Easy Access to CRIB 'My Report'
Business Today Sri Lanka

People's Bank 'People's Pay' App Now Offers Easy Access to CRIB 'My Report'

In the current fast-paced environment, the ability to promptly access vital information can greatly expedite financial transactions.

time-read
1 min  |
November 2024
HNB Partners with John Keells CG Auto
Business Today Sri Lanka

HNB Partners with John Keells CG Auto

HNB has strategically partnered with John Keells CG Auto (JKCG Auto) to offer innovative leasing solutions for their BYD vehicle range.

time-read
1 min  |
November 2024
Pathfinder Foundation Presents Sinhala Translation of 'The India Way' to Dr. S. Jaishankar, External Affairs Minister of India
Business Today Sri Lanka

Pathfinder Foundation Presents Sinhala Translation of 'The India Way' to Dr. S. Jaishankar, External Affairs Minister of India

The Pathfinder Foundation presented the Sinhala translation of Dr. S. Jaishankar's seminal work, The India Way: Strategies for an Uncertain World, (ඉන්දීය. මාවත අවිනිශ්චිත ලෝකයක උපාය මාර්ග) to the visiting Indian External Affairs Minister during a ceremony in Colombo.

time-read
1 min  |
November 2024
SLT-MOBITEL Nebula Institute of Technology recognized on Campus Chapter as the tenth IET
Business Today Sri Lanka

SLT-MOBITEL Nebula Institute of Technology recognized on Campus Chapter as the tenth IET

SLT-MOBITEL Institute Nebula of Technology, the education arm of SLTMOBITEL, has achieved a significant milestone by being recognized as the tenth IET on Campus Chapter.

time-read
1 min  |
November 2024
People's Bank Relaunches Multiple Enhanced Services for Migrant Workers
Business Today Sri Lanka

People's Bank Relaunches Multiple Enhanced Services for Migrant Workers

People's Bank Celebrated World Children's Day by relaunching 'Ethera Udana Minors' Foreign Currency Account with new features.

time-read
2 Minuten  |
November 2024
EU Delegation Commits to Strengthen Sri Lanka-EU Relations, Extends Presidential Greetings from Key European Leaders
Business Today Sri Lanka

EU Delegation Commits to Strengthen Sri Lanka-EU Relations, Extends Presidential Greetings from Key European Leaders

President Anura Kumara Dissanayake met with the European Union (EU) Delegation, led by EU Ambassador Carmen Moreno.

time-read
1 min  |
November 2024
ADB Delegation Meets President Dissanayake, Pledges Continued Support for Sri Lanka's Economic Development
Business Today Sri Lanka

ADB Delegation Meets President Dissanayake, Pledges Continued Support for Sri Lanka's Economic Development

The Country Director of the Asian Development Bank (ADB) Resident Mission in Sri Lanka, Takafumi Kadono, along with a delegation, met with President Anura Kumara Dissanayake.

time-read
1 min  |
November 2024
Sri Lanka Secures USD 200 Million from World Bank's IDA for Second Phase of RESET Program
Business Today Sri Lanka

Sri Lanka Secures USD 200 Million from World Bank's IDA for Second Phase of RESET Program

The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program.

time-read
1 min  |
November 2024