Aug 05, 2010 (LBO) - Sri Lanka's Nations Trust Bank's (NTB) net profit for the June 2010 quarter rose 86 percent to 280 million rupees as interest margins improved, a stock exchange filing said.
Interest income fell 22 percent to 2.5 billion rupees while interest costs fell at a faster 42 percent to 1.39 billion rupees, allowing net interest income to rise 32 percent to 1.15 billion rupees.
Basic earnings per share rose 49 percent to 1.34 rupees.
Non-interest income rose six percent to 477 million rupees over the period while provisions for bad loans fell 55 percent to 91 million rupees.
Total performing loans and advances rose 15 percent to 38.6 billion rupees as at June 31, 2010 from the beginning of the year while total deposits were up three percent to 45.9 billion rupees.
At bank level, the interest margin rose to 5.47 percent as at June 31, 2010 from 4.85 percent at the beginning of the year.
Return on assets before tax grew to 2.28 percent from 1.44 percent and return on equity rose to 17.58 percent from 12.59 percent over the same period.
source - www.lbo.lk
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