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HNB Chairman, Rienzie Arseculeratne | Jonathan Alles

HNB Group recorded a pre tax profit of Rs 16.2 Bn and a post tax profit of Rs 11Bn for the year ended 31st December 2015, while the Bank posted a profit before tax of Rs 15 Bn and a profit after tax (PAT) of Rs 10.4 Bn for the 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.

Both Advances and Deposits of the Bank increased by over Rs 100 Bn, the highest in the Bank’s history whilst the Non Performing Assets ratio improved to 2.43%, the lowest in the past few decades.

“It is significant that this NPA was achieved whilst attaining a loan growth of 26% and was a result of the proactive efforts of our recovery teams,” HNB MD/CEO, Jonathan Alles said.