Nations Trust Bank demonstrates steady performance in 2023

• Asset growth 24% to Rs.516bn
• Operating income growth 16% to Rs.45bn
• Stage 3 loan ratio reduced to 2.34%, highlighting quality of loan portfolio 
• Strong liquidity and capital adequacy ratios at 45% and 19.68%, respectively 

Nations Trust Bank (NTB) reported strong performance to close the financial year ending on December 31, 2023, demonstrating steady growth amidst the prevailing macroeconomic conditions. 
The bank’s ability to navigate these challenges while maintaining a strategic focus highlights its commitment to delivering value to all stakeholders. 

NTB Director and Chief Executive Officer Hemantha Gunetilleke said, “We are pleased to announce strong results for the financial year ending on December 31, 2023, showcasing consistent growth across our customer segments and notable increases in market share. The bank’s success stems from its ongoing commitment to digital empowerment, resilient risk management strategies and a solid capital foundation, complemented by substantial liquidity reserves.”

Maintaining a robust liquidity position remained a priority for NTB with the consolidated liquid asset ratio strengthening further to 45.03 percent as of end-2023, well above the statutory minimum requirement. The group’s Tier 1 and overall capital adequacy ratios improved to 18.14 percent and 19.68 percent, respectively, as of year-end, comfortably above the regulatory requirement.

Interest expenses rose moderately, driving a 19 percent increase in net interest income supported by timely repricing of assets and liabilities. The net fee and commission income grew on increased credit card spend, while trade finance and cash management services held steady. The bank’s consolidated interest income rose 30 percent to Rs.70.55 billion in 2023, enabled by loan growth and returns from investments in government securities. 

Continuing its strong financial performance, the bank posted an operating profit before taxes of Rs.23.4 billion, a growth of 74 percent and a profit after tax of Rs.11.4 billion, a year-on-year increase of 59 percent for the 12 months ending on December 31, 2023.