NSB Achieves Outstanding Profit in 2024

The National Savings Bank (NSB) has unveiled its audited financial results for the year ended December 31, 2024.

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NSB reported a remarkable 126 percent increase in Profit After Tax (PAT), soaring to 16.29 billion rupees from 7.22 billion rupees in 2023.

Dr Harsha Cabral PC, Chairman, NSB, stated, “NSB’s financial success in 2024 underscores the strength of our strategic vision, disciplined execution, and unwavering dedication to our customers and stakeholders. Despite a challenging macroeconomic environment, we have demonstrated resilience, achieved record profitability while maintained a strong balance sheet and a stable risk profile. Our commitment to sustainable growth, prudent governance, and financial inclusivity continues to drive our longterm success. As we look ahead, we will further strengthen our role as a key pillar of Sri Lanka’s financial sector, ensuring that we create lasting value for the nation and its people.”

Net interest income grew significantly by 146 percent to 72.78 billion rupees in 2023, despite a 10 percent decline in interest income due to lower yields from accommodative monetary policy. This growth was supported by a 34 percent reduction in interest expenses to 130.97 billion rupees.