Nations Trust Bank PLC reported strong financial results for the twelve months ending December 31, 2024, achieving a Profit After Tax (PAT) of Rs. 17 bn, up 46% YoY, a media release from the company stated.
In the release, Nations Trust Bank, Director and Chief Executive Officer, Hemantha Gunetilleke had stated, “The Bank’s performance for the twelve months ending 31st December 2024 showcases our continued growth and expansion across diverse customer segments. Our solid capital position, strong liquidity buffers, effective risk management frameworks, and steadfast commitment to service excellence and digital empowerment remain the key drivers of our success.” Improvements in the macro-economic environment and successful management of the Bank’s credit portfolio resulted in total impairment charges decreasing by 69% and the Net Stage 3 ratio reducing to 1.6%.
The Bank’s financial performance is supported by its strong capital buffers, with Tier I Capital at 21.47% and a Total Capital Adequacy Ratio of 22.66%, well above the regulatory requirements of 8.5% and 12.5%. A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 320.56% against the regulatory requirement of 100%. The Bank reported a Return on Equity (ROE) of 24.22%, while its Earnings Per Share for the twelve months ending December 31, 2024 increased to Rs. 50.82, against Rs. 34.70 recorded during the corresponding period last year. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka.
