He says, NTB which recorded a pretax profit of Rs. 684 million during the 1st quarter of the ongoing financial year is likely to repeat it during the 2nd quarter.
The NTB CEO speaking to us in an exclusive interview we conducted with him at his office in Colombo said, the future focus of the Bank is to expand its “branches, balance sheet footings, capital and profits”.
Rajakaruna, who has decades of Banking experience in his armory with an extended period at Citibank, London and a shorter stint at Bank of Ceylon, also revealed that NTB business volumes in the second quarter of the 2011 is growing more than the first quarter with its core revenue streams also steadily increasing.
He said, this is despite its deposit portfolio being somewhat stressed during the 2nd quarter due to the exit of some large high cost deposits.
The Bank which reported after tax profits of Rs.1 billion in 2010 now commands a 3% share of the aggregate banking market in Sri Lanka.
Rajakaruna, who was brought into the NTB to function as its CEO, following a forex loss amounting to nearly Rs 1 billion during the year 2009, says troubled times are over and the future is bright for the Bank.
http://www.news360.lk/business-finance/ntb-to-expand-to-outstation-economic-hubs-capture-sme-segment