This achievement is a testament to the adept management and highly skilled workforce of NSB.
The Banks’ impressive achievement of 7.2 billion rupees in Profit After Tax (PAT) was mainly attributed to a 31 percent surge in Interest Income. The Bank strategically allocated more than 60 percent of its customer deposits towards investing in Government Debt Securities, capitalizing on the higher interest rates that were prevalent in 2022.
This prudent investment strategy yielded a substantial interest income of 137.7 billion rupees, which was an upswing of 36 percent. Interest received through Loans and Advances also grew by 36.3 percent, resulting in an increment of 23.4 billion rupees.
At the group level, the net gain from trading has increased significantly to 3.7 billion rupees, marking a 206 percent rise from the previous year’s trading loss. The credit for this remarkable turnaround goes to NSB, which has exhibited exceptional professionalism, due care, and commitment in identifying and capitalizing on market opportunities. This achievement underscores NSB’s ability to steer its operations with agility and astuteness, even in the face of a challenging market environment.
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Breaking Barriers: Peoples Leasing & Finance PLC and Hayleys Solar Collaborate
Peopleâs Leasing & Finance PLC (PLC) and Hayleys Solar have entered into an agreement through a Memorandum of Understanding (MoU).
NSB Continued to Prove its Resilience within an Economic Shudder
NSB demonstrated its mettle by recording a Profit after Tax (PAT) of 7.2 billion rupees for the fiscal year ended December 31, 2023.
Pan Asia Bank Posts Steady Performance in 1Q 2024
Pan Asia Banking Corporation reported a steady performance reflecting improved macro economic conditions as the Bank reported its financial performance during 1Q 2024, which showed judicious portfolio management and prudency in dealing with possible fallout on its asset quality in challenging times.
AWS Beats Azure to Top Global Cloud Computing Market Chart with a 31 percent Share
The cloud computing market attracts users worldwide, and the battle for dominance among top providers is a constant narrative.
Ban Ki-moon Appreciates Growing Close Partnership between GGGI and Sri Lanka
During a meeting between Sri Lankan Prime Minister Dinesh Gunawardena and the Chairman of the Global Green Growth Institute (GGGI), Ban Ki-moon, the former expressed his gratitude for the close partnership that exists between Sri Lanka and GGGI.
Korea Provides Support to Several Sectors
Ambassador of Republic of Korea, Miyon Lee met with Prime Minister Dinesh Gunawardena to discuss follow up actions on the decisions taken at the discussions held during the Prime Ministerâs visit to Korea.
Many Benefits to a Number of Sectors in Sri Lanka as a result of PM Dinesh Gunawardena's visit to Korea
During a meeting, the Governor of Gyeongsangbuk-du Province of the Peopleâs Republic of South Korea, Lee Cheol Woo, met with Sri Lankan Prime Minister Dinesh Gunawardena.
The Good Cashmere Standard Boosts its Sustainability Credentials with Focus on Animal Welfare and Transparency
By revising the standardâs criteria and embarking on a new collaboration with TextileGenesis, A Lectra Company, the Aid by Trade Foundation (AbTF) is boosting the credentials of The Good Cashmere Standard (GCS) as an independent seal for sustainably produced and traceable cashmere fibers from Inner Mongolia.
The Central Bank of Sri Lanka Releases its inaugural Annual Economic Review and Financial Statements and Operations of the Central Bank for the Year 2023
The inaugural publication under Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA),namely, the Annual Economic Review 2023, and the inaugural publication under Section 99 of the CBA, namely, Financial Statements and Operations of the Central Bank 2023, were presented to Ranil Wickremesinghe, the President and Minister of Finance, Economic Stabilization and National Policies, by Dr. P Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka.
President Ranil Wickremesinghe at the Opening of ITC Batnadina Hotel
President Ranil Wickremesinghe expressed his dedication to fostering an economic landscape in the nation that would prevent future struggles among its citizens.