HNB post 4.7 Bn PAT

Hatton National Bank posted yet another solid performance for the year 2010 as the banking group recorded a net profit of Rs.4.7 billion for the year ended December 31, up from 7 percent against the previous year. The December quarter profits also rose 2 percent to Rs.1.8 billion compared with the same quarter of the previous year.

According to a statement by HNB, the financial year 2010 was a year that presented a mix of challenges and opportunities for the financial services industry. As a consequence of the slowdown in economic activity in 2009, credit growth remained sluggish during the major part of 2010.

Commenting on the growth Rajendra Theagarajah, Managing Director /CEO of HNB PLC said solid contribution from core banking activities driven by agility and acceleration of strategy implementation paved the way for improved financial performance.

The decline in domestic interest rates coupled with the sluggish loan growth witnessed during the first half of the year contributed towards a drop in the Bank's top line where interest income declined by 12.6% to Rs. 30.2 billion from Rs. 34.6 billion in 2009.

source - www.dailymirror.lk

sasl wrote:Hatton National Bank posted yet another solid performance for the year 2010 as the banking group recorded a net profit of Rs.4.7 billion for the year ended December 31, up from 7 percent against the previous year. The December quarter profits also rose 2 percent to Rs.1.8 billion compared with the same quarter of the previous year.

According to a statement by HNB, the financial year 2010 was a year that presented a mix of challenges and opportunities for the financial services industry. As a consequence of the slowdown in economic activity in 2009, credit growth remained sluggish during the major part of 2010.

Commenting on the growth Rajendra Theagarajah, Managing Director /CEO of HNB PLC said solid contribution from core banking activities driven by agility and acceleration of strategy implementation paved the way for improved financial performance.

The decline in domestic interest rates coupled with the sluggish loan growth witnessed during the first half of the year contributed towards a drop in the Bank's top line where interest income declined by 12.6% to Rs. 30.2 billion from Rs. 34.6 billion in 2009.

source - www.dailymirror.lk

Look banks are more solid. Will be a good year this year for them.

et wrote:

sasl wrote:Hatton National Bank posted yet another solid performance for the year 2010 as the banking group recorded a net profit of Rs.4.7 billion for the year ended December 31, up from 7 percent against the previous year. The December quarter profits also rose 2 percent to Rs.1.8 billion compared with the same quarter of the previous year.

According to a statement by HNB, the financial year 2010 was a year that presented a mix of challenges and opportunities for the financial services industry. As a consequence of the slowdown in economic activity in 2009, credit growth remained sluggish during the major part of 2010.

Commenting on the growth Rajendra Theagarajah, Managing Director /CEO of HNB PLC said solid contribution from core banking activities driven by agility and acceleration of strategy implementation paved the way for improved financial performance.

The decline in domestic interest rates coupled with the sluggish loan growth witnessed during the first half of the year contributed towards a drop in the Bank's top line where interest income declined by 12.6% to Rs. 30.2 billion from Rs. 34.6 billion in 2009.

source - www.dailymirror.lk

Look banks are more solid. Will be a good year this year for them.

Look like banking sector shares going to dominate next week.

sasl wrote:Hatton National Bank posted yet another solid performance for the year 2010 as the banking group recorded a net profit of Rs.4.7 billion for the year ended December 31, up from 7 percent against the previous year. The December quarter profits also rose 2 percent to Rs.1.8 billion compared with the same quarter of the previous year.

According to a statement by HNB, the financial year 2010 was a year that presented a mix of challenges and opportunities for the financial services industry. As a consequence of the slowdown in economic activity in 2009, credit growth remained sluggish during the major part of 2010.

Commenting on the growth Rajendra Theagarajah, Managing Director /CEO of HNB PLC said solid contribution from core banking activities driven by agility and acceleration of strategy implementation paved the way for improved financial performance.

The decline in domestic interest rates coupled with the sluggish loan growth witnessed during the first half of the year contributed towards a drop in the Bank's top line where interest income declined by 12.6% to Rs. 30.2 billion from Rs. 34.6 billion in 2009.

source - www.dailymirror.lk

HNB. A Really good share but already valued for its reputation.
Also bare in mind that they sold some of their CMB shares.