HNB Grameen posts steadfast performance in FY17/18; records Rs.2.02bn PBT
Leading Sri Lankan financial solutions provider, HNB Grameen Finance Ltd, continued its growth momentum into the fourth quarter of 2017/18 with steadfast performance in all key indicators, including net interest income exceeding Rs.4.1 billion and assets surpassing Rs.25.3 billion. The profit before tax (PBT) of the company stood at Rs.2.02 billion.
“HNB Grameen Finance continues to display resilience and we are pleased with its stable performance over the last quarter. HNB Grameen Finance represents a vital component of our bank’s overarching strategy to extend reliable, highquality financial services across the entire spectrum of Sri Lankan society.”
“The continuing growth of its operations in the face of challenging market conditions is a testament to HNB Grameen Finance’s strong reputation for responsible, customer-friendly financial services. Moving forward, we aim to leverage new technologies to enhance our value proposition to all our stakeholders,” HNB Grameen Finance Chairman Jonathan Alles stated.
During the financial year, the key indicators were on the up with net interest income rising to Rs.4.1 billion, an increase of 7.8 percent year-on-year (YOY) over the previous year’s Rs.3.8 billion. Leveraging a strong diversified portfolio, HNB Grameen Finance’s total operating income grew to Rs.4.9 billion during the period in review, as compared with Rs.4.6 billion in the previous year. The net operating income rose to Rs.4.3 billion compared to Rs.3.9 billion recorded previous year. The total assets amassed to Rs.25.3 billion, an increase of 30 percent over the previous year’s figure of Rs.19.5 billion.
HNB Grameen Finance Ltd Managing Director and Chief Executive Officer B.M.D. Chaminda Prabhath said, “Our financial performances have proved that as a company, we have the ability to sustain and grow through challenging market conditions. While it reflects our potential to emerge as a strong performer in the industry, the steady growth experienced during this financial year will get factored in continuing a sustainable growth in 2018/19.”
“We will continue to invest in brand building, technology and network expansion. While adding value to the existing product portfolio and launching new products and services to deliver unique value propositions to our customers, HNB Grameen Finance will further strengthen the focus of being Sri Lanka’s premier financial services provider,” added Prabhath.