![\"NSB](\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2016\/03\/NSB-ups-pre-tax-profit-by-24-to-a-record-Rs.-13-b.jpg\")
<\/a><\/p>\n\u201cI am delighted to be associated with the bank in this momentous year of growth, \u201d NSB Chairman Aswin De Silva said. \u201cThe achievement is significant as it is attributed largely to an organic growth representing core business areas. As we forge ahead towards building a financial resilience in Sri Lanka, we are bolstered by trust and confidence placed in us by all our stakeholders.\u201d<\/p>\n
De Silva added: \u201cSustainability of this growth momentum is a key focus area for the bank. To this end the bank would embark on several new initiatives in 2016 and beyond to complement its core areas of activity.\u201d<\/p>\n
The bank\u2019s growth in profitability in 2015 has been attributed to five key factors: growth in co-business signifying a 26% increase in net interest income, improvement in asset quality through the reduction of the bank\u2019s non-performing loans ratio from 7.6% in 2014 to 3.5%, increased business volume through a clearer focus on under penetrated business areas such as inward foreign currency remittances, enhanced efficiency and productivity through a well-managed operating cost structure and wider reach and accessibility through an improved relationship with the national postal network, particularly within rural Sri Lanka.<\/p>\n
\u201cWe are privileged to have contributed Rs. 11 billion to the Government by way of taxes, fees and dividend during 2015,\u201d said NSB General Manager\/CEO S.D.N Perera. \u201cIn my view, the strategic and operational action plan will assist continuity of growth and meeting targets,\u201d he added.<\/p>\n
NSB\u2019s loans and advances grew by 22%, its retail lending portfolio increased by 16% and corporate lending by 29%. The total assets of the bank stood at Rs. 848 billion indicating a growth of 9%. NSB\u2019s Tier 1 capital adequacy ratio stood at 17.8%, while total capital adequacy for the reviewed period was at 16.3% which were well above the minimum regulatory requirements.<\/p>\n
The bank added nine new branches in 2015 increasing its total branch network to 245. NSB has always been the safest place to bank \u2013 it was the first local bank to receive AAA credit rating from Fitch Ratings Lanka Ltd.. The rating has been consistently reaffirmed for the past 13 years.<\/p>\n
source: Sri Lanka Financial Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"NSB ups pre-tax profit by 24% to a record Rs. 13b Savings giant NSB has boosted its profit before tax for 2015 by 24% to a record Rs. 13 billion, whilst achieving healthy growth in deposit mobilisation. The bank also recorded a 26.2% rise in profit after tax to reach Rs. 8.7 billion for the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[591,590,592],"class_list":{"0":"post-8039","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-articles","7":"tag-aswin-desilva","8":"tag-national-savings-bank","9":"tag-s-d-n-perera"},"yoast_head":"\n
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