The National Savings Bank recorded a Profit before Tax 15 billion for the First Six Months of 2024

National Savings Bank had already surpassed the previous year's profit after Tax (PAT) by the second quarter of this year. The Bank registered a PBT of 15 billion for the six months of 2024, whereas the PAT for 2023 was 7.21 billion rupees.

- 

Harsha Cabraal, Chairman of NSB said, "Our strong profitability in the first six months of this year is a testament to the strategic focus of our corporate management, the dedication and hard work of our employees, and the emerging economic stabilization following the recent crisis. Despite the challenging environment, our team has remained resilient, and together, we have successfully navigated the complexities of the market. This collective effort has positioned the Bank to recover and thrive in the postcrisis landscape."

Shashi Kandambi, GM, NSB commented on the increased profitability: "Our net interest income saw a significant boost, primarily driven by our optimal treasury operations and exemplary liquidity management. All key performance indicators of the Bank have shown improvement, reflecting the increased profitability supported by economic stabilization and the favorable impact of the declining interest rate environment. Our strong financial performance reinforces our role in contributing to the nation's recovery and growth, staying true to the Bank's core mission."