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NTB results

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1NTB results  Empty NTB results Thu Aug 09, 2012 5:07 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics



http://www.cse.lk/cmt/upload_report_file/387_1344511473540.06.2012.pdf

2NTB results  Empty Re: NTB results Thu Aug 09, 2012 5:39 pm

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Again unexpectadly better result from banking and finance sector and also some large cap shares like SPEN,JKH,AHUN etc. These corporate earnings hints this quarter GDP growth wouldn't be that bad. My guess is above 7 % against the 7.9 in first quarter 2012. Should watch COMB too.

3NTB results  Empty Re: NTB results Thu Aug 09, 2012 7:46 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Please update the banking sector valuation guide published before, incorporating operational results for the period ending 30th June, for the reference of forum readers. Appreciate much.

4NTB results  Empty Re: NTB results Thu Aug 09, 2012 10:14 pm

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics

WildBear wrote:Again unexpectadly better result from banking and finance sector and also some large cap shares like SPEN,JKH,AHUN etc. These corporate earnings hints this quarter GDP growth wouldn't be that bad. My guess is above 7 % against the 7.9 in first quarter 2012. Should watch COMB too.

Banking sector performance is not unexpected. If you look at 31st March results, most companies are with high borrowing (short term facilities other than project loans). This is same for the unlisted companies. These OD facilities are with increased interest rates and benefited most of the larger banks.

But most of other companies are also performed well, much better than most expected.

As you said if we didn't have any unexpected disasters country will achieve the GDP target set by the government.

sriranga

sriranga
Co-Admin

Nations Trust Bank closed the first half with a post tax profit of Rs. 893 million surpassing the comparative period of last year by 21 percent. Core-earnings posted good growth over 2011 with revenue increasing at a higher rate of 13 percent compared to an expense growth of 11 percent.

"The performance was primarily driven by four strategic business units comprising of Retail and SME, Credit Cards, Corporate Banking and Treasury which recorded both volume growth and profit growth for the period. Leasing also performed well despite industry wide challenges arising from the changes in the import tax structure for vehicles. The bank continued to progress well in diversifying its portfolio and earnings base while optimizing returns in a controlled growth environment," the bank said in a statement announcing the interim results.

"Maintaining net Interest margins across the businesses were challenging due to the rising cost of funds and intensifying competition for deposits. Timely intervention in pricing the asset and liability portfolios and growth in business volumes across all businesses mitigated margin pressure to a great extent and resulted in net interest income recording a growth of 11 percent over the previous period," the bank said.

"Non fund based income recorded a robust growth of 16 percent over the previous period. Changes to import tax regulations coupled with the depreciation of the rupee curtailed imports volume, and impacted the Bank’s Trade Finance income. Credit cards income recorded a commendable growth of 32 percent stemming from both the acquiring and issuing businesses. Both local and destination spend increased by over 25 percent compared to the 1H of previous year driven by significant expansion in the Bank’s card issuances . Forex income also recorded a notable growth as a result of currency volatility in the market.

"The Bank continued to manage costs, curtailing the increase in expenses to 11 percent despite investments made in expanding the delivery network and building the brand. No material shifts were seen in the cost composition for the year. Group cost income ratio stood at 59 percent on par with the previous period.

"A sound credit risk management framework in the Bank ensured a healthy NPL ratio of 2.91 percent compared to 2.79 percent reported in December 2011. Loan loss provisions which comprises of specific provision write-back and a general provision charge in line with the asset growth for the quarter was comparatively higher than the previous period which recorded reversals on both categories.

"The Bank also managed to grow its loan book by 13 percent to Rs 71 billion and deposits by 22 percent to Rs. 81 billion. Whilst the loan growth was on par with industry, deposit growth exceeded the market. A significant portion of the funding of the asset book was through deposits which also improved the Loans to Deposit ratio, bringing in increased stability to the balance sheet.

"Driving low cost deposits continued to be challenging with such deposits contributing to only 11 percent of the growth recorded for the 6 months period. The rising interest rates have resulted in a steep shift towards term deposits with customers opting for higher returns on their regular savings and investments. The Bank launched a savings campaign to reward customers across the branch network and has seen steady positive results

"The capital position was at a sound Rs. 9.0 billion with Capital Adequacy Ratios both at Tier 1 and 2 maintained at comfortable levels."

Commenting on the results and achievements, Saliya Rajakaruna, Director/CEO said, " We anticipate bigger challenges in the 2H in the back drop of curtailed credit growth, but remain focused in achieving the goals set for the year."

GDP shares…

"Reflecting high growth performances in other provinces, the share of the Western province to the overall GDP declined to 44.4 per cent in 2011 from 44.8 per cent in 2010.

"The Southern province accounted for the second highest contribution of 11.1 per cent in 2011, compared to 10.7 per cent in 2010.

"The third highest contribution to the country’s GDP came from the North Western province, which was 10.0 per cent in 2011 compared to 9.5 per cent in the previous year.

"The contribution of the Northern province to GDP increased to 3.7 per cent in 2011 from 3.4 per cent in 2010.

"However, the shares of the Central, Eastern, North Central and Sabaragamuwa provinces declined to 9.8 per cent, 5.7 per cent, 4.6 per cent and 6.2 per cent, respectively, in 2011. The contribution of the Uva province remained unchanged in 2011.

Sectoral contributions…

"There were considerable variations in the structure of the PGDP across the provinces. The Agriculture sector accounted for around 3 per cent of the GDP in the Western province in 2011, whereas it accounted for 15 - 30 per cent of the GDP in the other provinces. The contribution of the Agriculture sector to the PGDP decreased in all provinces in 2011, except the Western and Northern provinces.

"The Industry sector contribution to PGDP increased in 2011 in all provinces, except for Central and North Western provinces. As in 2010, the largest contribution to PGDP from industry sector was observed in the Southern province. The Services sector was the most dominant sector accounting for between 49.6 per cent and 64.1 per cent of the PGDP in different provinces. The contribution from the Services sector declined in the Western and Northern provinces, but increased in all other provinces during 2011," the Central Bank said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=58811

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