Hatton National Bank will invest Rs. 2 billion in the next two to three years to intensify their IT sector developments.
Hatton National Bank Managing Director, Jonathan Alles speaking at the HNB Investor Forum last week said that in their way forward, IT will be the future in the banking sector and investments in this area would be very prudent. "Technology has helped the bank to be ahead and we want to re-invest in IT in future as well."
He said that the bank too agrees with the Central Bank governor that more rural bank branches should be opened in a bid to breach the regional disparity gap and HNB will look at this aspect as well.
Asked if they have major regional expansion plans he said that they prefer to first touch on several untapped rural segments."We are anyway aggressively involved in micro credit lending and will keep on concentrating in this area as well."
HNB's Corporate Banking business has also been very successful in 2015, with the
bank financing US$ 18 million of Hela's strategic acquisition of Foundation Garments.
With a lending portfolio of over Rs. 250 billion, HNB's Corporate Banking business is the largest amongst all local and foreign private commercial banks with a diversified portfolio comprising of working capital, trade financing and project financing businesses.
He also said that there is a decline in gold pawning and the bank has seen a loss in this segment.
"In contrast the housing loan segment has being growing and we will look at more salary based lending."
He also mentioned that in the year ahead, the Bank will continue to invest further to strength its client relationship management teams as well as introduce world class banking experiences to its customers. This banking platform to be launched in early 2016 will be the first of its kind amongst local banks.
In 2015 the loans to customers grew 26% to 498 billion rupees with leasing vehicles also picking up sharply from 24 to 40 billion rupees.
"We hope to grow our loan portfolio by 15% this year and we expect it to be driven by SME and personal banking."
The bank increased its loan portfolio by 26% with strong growth in corporate loans for working capital, projects and dollar denominated loans.
The Group profit after tax also improved to Rs 11bn by 10.2 %, driven by outstanding performance of newly acquired HNB Grameen Microfinance Ltd, while Sithma Development continued its steady growth, and Acuity Partners Ltd. contributed positively amidst lacklustre capital market conditions.
Although life insurance business performed well, high claims ratio in general insurance resulted in a plunge in the overall performance of the insurance business.
HNB Group recorded a pre tax profit of Rs 16.2 bn and a post tax profit of Rs 11 bn for the year ended 31st December 2015, while the Bank posted a profit before tax of Rs 15 bn and a profit after tax
of Rs 10.4 bn forthe same period. This is the first time the Bank surpassed the Rs 10 bn landmark in PAT, driven by a more than 25% growth in both advances and deposits.
www.dailynews.lk
Hatton National Bank Managing Director, Jonathan Alles speaking at the HNB Investor Forum last week said that in their way forward, IT will be the future in the banking sector and investments in this area would be very prudent. "Technology has helped the bank to be ahead and we want to re-invest in IT in future as well."
He said that the bank too agrees with the Central Bank governor that more rural bank branches should be opened in a bid to breach the regional disparity gap and HNB will look at this aspect as well.
Asked if they have major regional expansion plans he said that they prefer to first touch on several untapped rural segments."We are anyway aggressively involved in micro credit lending and will keep on concentrating in this area as well."
HNB's Corporate Banking business has also been very successful in 2015, with the
bank financing US$ 18 million of Hela's strategic acquisition of Foundation Garments.
With a lending portfolio of over Rs. 250 billion, HNB's Corporate Banking business is the largest amongst all local and foreign private commercial banks with a diversified portfolio comprising of working capital, trade financing and project financing businesses.
He also said that there is a decline in gold pawning and the bank has seen a loss in this segment.
"In contrast the housing loan segment has being growing and we will look at more salary based lending."
He also mentioned that in the year ahead, the Bank will continue to invest further to strength its client relationship management teams as well as introduce world class banking experiences to its customers. This banking platform to be launched in early 2016 will be the first of its kind amongst local banks.
In 2015 the loans to customers grew 26% to 498 billion rupees with leasing vehicles also picking up sharply from 24 to 40 billion rupees.
"We hope to grow our loan portfolio by 15% this year and we expect it to be driven by SME and personal banking."
The bank increased its loan portfolio by 26% with strong growth in corporate loans for working capital, projects and dollar denominated loans.
The Group profit after tax also improved to Rs 11bn by 10.2 %, driven by outstanding performance of newly acquired HNB Grameen Microfinance Ltd, while Sithma Development continued its steady growth, and Acuity Partners Ltd. contributed positively amidst lacklustre capital market conditions.
Although life insurance business performed well, high claims ratio in general insurance resulted in a plunge in the overall performance of the insurance business.
HNB Group recorded a pre tax profit of Rs 16.2 bn and a post tax profit of Rs 11 bn for the year ended 31st December 2015, while the Bank posted a profit before tax of Rs 15 bn and a profit after tax
of Rs 10.4 bn forthe same period. This is the first time the Bank surpassed the Rs 10 bn landmark in PAT, driven by a more than 25% growth in both advances and deposits.
www.dailynews.lk
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