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Sri Lanka Equity Forum » Stock Market Talk » HATTON NATIONAL BANK PLC

HATTON NATIONAL BANK PLC

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator
Fitch Ratings Lanka has confirmed Hatton National Bank's (HNB) National Long-Term rating at 'AA-(lka)' with a stable outlook.

The agency has also confirmed HNB's subordinated debentures at 'A+(lka)', a statement said.

"The ratings reflect HNB's sound financial profile, supported by robust capitalization, asset quality and profitability among local commercial banks," it said.

"The ratings are, however, are constrained by HNB's loan concentrations to related parties, geographic concentrations in Maldives, and increasing loan/deposit ratios."

Fitch warned that a sustained deterioration in HNB's capitalisation and asset quality relative to 'AA(lka)' peers would put downward pressure on the ratings.

The full ratings report follows:

Fitch Ratings Lanka has affirmed Hatton National Bank PLC's (HNB) National Long-Term rating at 'AA-(lka)'. The Outlook is Stable. The agency has also affirmed HNB's subordinated debentures at 'A+(lka)'.

The ratings reflect HNB's sound financial profile, supported by robust capitalization, asset quality and profitability among local commercial banks. The ratings are, however, are constrained by HNB's loan concentrations to related parties, geographic concentrations in Maldives (23% of equity at H111), and increasing loan/deposit ratios (H111: 94%; 2010: 88%). A sustained deterioration in HNB's capitalisation and asset quality relative to 'AA(lka)' peers would put downward pressure on the ratings.

Tier I and total capital adequacy ratios (factoring un-audited profits in H111), though declined, remained satisfactory at 10.2% and 11.4%, respectively, in H111 (2010: 11.0% and 12.6%). Equity/assets ratio was 9% at H111 (2010: 9.5%). These ratios compared well with peers. In addition, HNB raised LKR6bn Tier 1 capital and LKR2bn sub-debt (Tier II capital) during May-September 2011. Fitch notes that these additional capital infusions will support HNB's future loan growth and increase capital buffers to manage potential loan losses. Management expects to target tier 1 ratios at 11% in the near term after factoring in projected asset growth.

Fitch notes that HNB's loan book steadily increased by 19% yoy in both 2010 and H111 as the post-war domestic economy improved, after a decline to 5% in FY09 from 13% in FY08, similar to other banks. Approximately 42% of the bank's loan book comprised corporate loans, with retail/consumer loans and SME loans accounting for 16% and 13%, respectively, at end-December 2010. At the same time, housing loans, leasing and pawning (gold-backed loans) accounted for 9%, 7% and 13% of loans, respectively.

The bank's asset quality compares well with its peers. Its overall non-performing loans (NPL)/gross loan ratio was 4.78% at H111 (2010: 4.55%) largely driven by improvements in the domestic business unit (DBU) side of the loan book. DBU NPL/gross loans marginally reduced to 3.8% at H111 (2010: 4.0%). However, foreign currency loan book in 2010-H111 was vulnerable due to some credit exposures to Maldivian resort projects. Fitch expects cashflow to turn positive in mid-2012, until which these credits will remain classified as NPLs on HNB's loan book. However, management expects NPL/loans ratio to range between 3% and 4% in 2012, as the bank increases its DBU exposures and remains cautious on its foreign currency business unit's balance sheet.

HNB's current and savings account improved in 2010, accounting for 54.2% of total deposits as at end-December 2010 (46.5% at end-December 2009), although these dropped to 50.3% at H111. This deposit mix helped support HNB's overall net interest margins (H111: 5.4%, 2010: 6.0%), which compared well relative to the sector.

http://lbo.lk/fullstory.php?nid=17828573

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Apr i1, 2013 (LBO) - Sri Lanka's Hatton National Bank Plc is planning to sell 4.0 billion rupees of subordinated debt, which has been rated 'A+(lka)(EXP)' one notch below its long term rating, Fitch Ratings said.

The funds will be used for fresh lending and to strengthen the bank's regulatory Tier II capital base.

The full statement is reproduced below:

Fitch Rates Sri Lanka's HNB's Subordinated Debt Issue 'A+(lka)(EXP)'

Fitch Ratings-Colombo/Seoul/Singapore-11 April 2013: Fitch Ratings has assigned Sri Lanka-based Hatton National Bank PLC's (HNB; AA-(lka)/Stable) proposed issue of unsecured subordinated redeemable debentures of up to LKR4bn an expected National Long-Term rating of 'A+(lka)(EXP)'.

HNB plans to list the debentures subject to receiving the necessary regulatory approvals. The final rating is contingent upon the receipt of final documentation conforming to information already received, including details regarding the amount and tenor.

Rating Action Rationale
The proposed debentures are rated one notch below HNB's National Long-Term rating of 'AA-(lka)' to reflect their subordinated status. The proposed debentures will have a five-year tenor with bullet principal repayment at maturity. Coupon payments will be at a fixed rate, and paid annually, helping the bank to reduce its exposure to interest rate risk.

HNB expects to use the proceeds to fund its projected lending activities and to strengthen the bank's regulatory Tier 2 capital base.

Key Rating Drivers
HNB's ratings reflect its strong domestic franchise and satisfactory financial profile, supported by healthy capitalisation levels, average asset quality and healthy profitability compared with domestic peers. The ratings are, however, constrained by the bank's higher non-performing loan (NPL) concentrations compared with higher-rated peers, most recently driven by its exposure to weak credits in the Maldives. A structurally higher loan/deposit ratio and a lower mix of current and savings deposit accounts, compared with higher-rated peers, are also constraints on the ratings.

Rating Sensitivities
A material reduction in HNB's NPL concentrations or a strong commitment to maintaining Tier 1 capital adequacy ratio and impairment reserve coverage above higher-rated peers' over the long-term, could lead to a rating upgrade. Sustained improvements in its current and-savings account base (2012: 45% of deposits) and loans/deposits ratio (2012: 90%) over the medium-term could also support a higher rating.

Conversely, a sustained material weakening in HNB's capitalisation or asset quality relative to its rated peers could result in a rating downgrade.

http://www.lankabusinessonline.com/news/Sri_Lankas_Hatton_National_Bank_to_sell_Rs4bn_debt/26194365

3HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Thu Apr 11, 2013 2:34 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
The question is whether this will be listed debentures or private placements. Listed debentures get differential taxes, so it should be listed.

4HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Wed May 15, 2013 10:41 am

Gaudente


Senior Equity Analytic
Senior Equity Analytic
any news on when the issue opens and the coupon rates offered ?

5HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Wed May 15, 2013 10:54 am

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
listed debentures
my guess is 5 years 15%-15.5%

6HATTON NATIONAL BANK PLC Empty Hatton National Bank on Thu Aug 15, 2013 7:48 am

stocks hunter


Manager - Equity Analytics
Manager - Equity Analytics
Now the HNB is very well positioned to get the leadership in the banking sector. They were once leading the sector however in the middle of the journey they lost that status to COMB.

What happened later was HNB slowly but surely try to grab that past glory status of the bank by managing NPA levels prudently, Balancing a well diversified product portfolio, Reducing costs, etc...etc..

On the other hand their competitors tried to canvases business from HNB by offering lower rates than HNB and at the end of the day they had to pay the penalty. HNB was pioneered in Pawning and Housing loans later others came to the scene and tried to overtake HNB by allowing better rates and giving more advances in the area of pawning business.

Now all the other competitor banks are suffering from these childish activities and at the end of the day HNB is benefitting.

They have reported great financials in a gloomy economic conditions for the 1H 2013. Their ratios are attractive. Core business growth can be witnessed. They are enjoying their margins now. Prudent management concepts. They never panicked.

Now the HNB is blessed with young blood from top to bottom. Their MD/CEO may be one of the youngest persons among their competitors. They have the blessings from the GOVT as well since their chairman Dr(Mrs) R. Jayamaha is from CBSL and majority of the shares are now owned by the Govt.

My view is that HNB will grab the past glory status they enjoyed in CSE couple of years back very soon.

Once upon a time I can remember When competitor bank shares were trading around Rs 200 levels HNB shares were trading at Rs 600+ levels.

7HATTON NATIONAL BANK PLC Empty Hatton National Bank - Dividend Announcement on Fri Feb 21, 2014 5:12 pm

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
HATTON NATIONAL BANK PLC
Company ID: - HNB
Date of Announcement: - 21.Feb.2014
Dividend per Share: - Rs. 7.00 per share / Final Dividend
Financial Year: - 2013
Shareholder Approval: - Required
AGM: - 28.Mar.2014
XD: - 31.Mar.2014
Payment: - 08.Apr.2014
Share Transfer Book Open

8HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Sat Feb 22, 2014 11:53 pm

Leon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Antonym wrote:HATTON NATIONAL BANK PLC
Company ID: - HNB
Date of Announcement: - 21.Feb.2014
Dividend per Share: - Rs. 7.00 per share / Final Dividend
Financial Year: - 2013
Shareholder Approval: - Required
AGM: - 28.Mar.2014
XD: - 31.Mar.2014
Payment: - 08.Apr.2014
Share Transfer Book Open

Again as SAMP, XD date is far too long. What will happen to the share price??

9HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Sun Feb 23, 2014 8:45 am

Fresher


Moderator
Moderator
This has been then announcement and XD date for the past 3 years. no surprise

10HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Wed Jun 18, 2014 11:26 am

Santa

Santa
Manager - Equity Analytics
Manager - Equity Analytics
Wanted to know if anybody got this dividend. I certainly did not.

11HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Wed Jun 18, 2014 1:17 pm

Santa

Santa
Manager - Equity Analytics
Manager - Equity Analytics
does anybody know the answer to this.

12HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Wed Jun 18, 2014 11:39 pm

SHARK aka TAH

SHARK aka TAH
Expert
Expert
Check with the Company Secretary of HNB

13HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Tue Jul 08, 2014 2:21 pm

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
This is now heading towards Rs200.00

14HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Tue Jul 08, 2014 2:26 pm

stevenapple


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
After a considerable silence compare to peers.

15HATTON NATIONAL BANK PLC Empty HATTON NATIONAL BANK PLC on Sat Feb 20, 2016 2:47 am

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
19-Feb-2016

HATTION NATIONAL BANK - CASH & SCRIP DIVIDEND ANNOUNCEMENT

HATTON NATIONAL BANK PLC
Company ID: - HNB

CASH DIVIDEND
Date of Announcement: - 19.Feb.2016
Rate of Dividend: - Rs. 3.50 per share / Final Dividend
Financial Year: - 2015
Shareholder Approval: - Required
AGM: - 30.Mar.2016
XD: - 31.Mar.2016
Payment: - 08.Apr.2016
Share Transfer Book Open

SCRIP DIVIDEND
Date of Announcement: - 19.Feb.2016
Proportion: - Voting - One (01) share for 61.68 shares / Non-Voting - One (01) share for 57.46 shares
Qty Offered: - Voting - 5,259,275.10 / Non-Voting - 1,416,906
Financial Year: - 2015
Shareholder Approval: - Required
AGM: - 30.Mar.2016
XD: - 31.Mar.2016
Share Transfer Book Open

16HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Sat Feb 20, 2016 2:48 am

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Not impressed

17HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Sat Feb 20, 2016 2:49 am

Joe007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I expect HNB to come down below Rs 190 then it is recommended.

18HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Thu Mar 10, 2016 7:50 pm

Brinthan

Brinthan
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Today i get the sampath annual report and shareholder circular..If i get a scrip dividend from sampath bank ..They ask me to fill CDS account details and send them via post...Can i know it is a mandatary requirment ???

Is anyone know this please tell me???

19HATTON NATIONAL BANK PLC Empty Re: HATTON NATIONAL BANK PLC on Thu Oct 31, 2019 12:18 pm

target1


Stock Analytic
Stock Analytic
eps
Q3 & 4...?
2021......?
2022.......?

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