HNB.N0000 (Hatton National Bank PLC)

treasure trove of historical information. thanks YK

Thanks a lot YK.

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Financial Performance- Period ended 31 March 2019

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HNB profits down 15-pct in June quarter

ECONOMYNEXT - Profits at Sri Lanka's Hatton National Bank group, which includes a insurer fell 15 percent to 2.97 billion rupees in the June 2019 quarter from year earlier, as a debt repayment levy hit profits and loan growth contracted, interim accounts showed.

The group reported earnings of 5.84 rupees per share for the quarter. For the six months to June, the group reported earnings of 9.83 rupees per share on total profits of 4.9 billion rupees, down from 7.8 billion rupees a year earlier.

Interest income grew 14 percent to 32.0 billion rupees, interest expenses also grew 14 percent to 17.4 billion rupees and net interest income grew 3 percent to 2.51 billion rupees.

Loans contracted 3 percent to 749 billion rupees by end June from December 2018. The bond portfolio also fell 6 percent to 155 billion rupees.

"The Bank’s robust business model coupled with prudent asset and liability management, enabled HNB to post stable results from its core banking operations despite a slowdown in balance sheet growth," the group told shareholders in a statement.

Loan losses grew 8 percent to 2.4 billion rupees in the quarter, from a year earlier.

The gross non-performing loan ratio grew to 4.69 percent in June from 2.78 percent in December.

Deposits fell to 814.7 billion rupees in June from 818.0 billion rupees in December.

Net fee and commission income grew 2 percent to 2.45 billion rupees.

Trading losses increased to 1.49 billion rupees from 1.17 billion rupees.

"An appreciating Rupee led to translation losses on foreign currency denominated long positions and FCBU earnings; this being the main reason for the Bank booking exchange losses of Rs 577.2 Mn during the first half," the firm told shareholders.

"In comparison, a substantial exchange gain of Rs 895.5 Mn was reported for the corresponding period ending June 2018."

Net gain on financial instruments rose 10 percent to 1.91 billion rupees.

Other operating income fell 2 percent to 1.7 billion rupees.

A new debt repyament levy of 717 million rupees hit the bottom line.

Gross assets fell 1 percent to 1,140 billion rupees. Net assets grew 3 percent to 141 billion rupees. At bank level capital adequacy rose to 15.5 billion rupees from 15.22 billion rupees. (Colombo/Aug13/2019)

HNB group March net up 57-pct helped by forex profits, tax cuts

ECONOMYNEXT – Sri Lanka’s Hatton National Bank, which controls an insurer, said profits grew 57 percent to 3.0 billion rupees in the March 2020 quarter from a year earlier, helped by forex profits and tax cuts despite loans loss provisions,

The group reported earnings of 6.09 rupees for the quarter.

Interest income fell 6 percent to 29.7 billion rupees in the March quarter, interest expenses fell at a slower 3 percent to 16.4 billion rupees, shrinking net interest income 9 percent to 13.3 billion rupees.

At group levels loans and advances grew 2 percent to 781 billion rupees from December to March 2020.

HNB provided 4.6 billion rupees for loan loss provisions at group level up 1 percent from a year earlier.

At standalone bank level provisions were 4.66 billion rupees up 13 percent from a year earlier.

.”. [G]iven the implications of COVID – 19, the Bank has incorporated initial adjustments based on the limited information available in line with the guidelines issued by CA Sri Lanka and has made an impairment provision for 4.7 billion rupees for the first quarter of 2020″ HNB said.

Gross non-performing loan ratio was unchanged at 5.9 percent.

Accumulated stage 03 impairments rose to 27.0 billion rupees from 24.0 billion in December.

Net fee and commission income fell 12 percent to 2.2 billion rupees.


“Relatively lower trade and economic activity even prior to the COVID – 19 pandemic resulted in fee income being marginally lower,” the banks said.

“Nevertheless, revenue from digital channels continued to be encouraging.”

Sri Lanka’s rupee fell in March as the central printed large volumes of money under its call-money-rate-targeting-with-excess-liquidity and did not defend the peg as it broke under excess liquidity and credit. March credit to both private sector and the government spiked, data showed.

The group reported other operating income of 1.9 billion rupees against a loss of 1.1 billion rupees last year as the rupee fell.

There were no charges for a debt repayment levy or nation building tax after the new administration announced tax cuts in January, which are yet to be passed in parliament.

In March 2019 the bank charged 583 million rupees for a debt repayment levy and 143 million rupees for nation building tax.

Group deposits grew 4 percent to 865 billion rupees during the quarter.

Shareholders grew 2 percent to 148 billion rupees.

Tier I capital adequacy fell to 14.08 percent from 14.7 percent at group level during the quarter. At bank level Tier I adequacy fell to 13.85 percent from 14.57 percent.

Gross assets grew 2 percent to 1,219 billion rupees. (Colombo/Mar20/2020)

Hi, will they approve declared Scrip & cash dividend for HNB share. AGM 29.05 & XD 01.06. Still huge foreign selling can be seen for HNB. Will there be any upward trend from current level in next week for this share ? Any predictions..? Pls comment...

Though no one can act as a fortune teller HNB definitely has got value. Can't say whether it will move up or down next week of week after but it should be valued at a very high level than the current price. As an indicator use HNB's NAV which is 297/- as at March 31st 2020 and current price is about 1/3rd of the price. Try yo use benchmarks and see a realistic price for a stock of similar earnings , NAV and industry.

gosrilanka wrote:Hi, will they approve declared Scrip & cash dividend for HNB share. AGM 29.05 & XD 01.06. Still huge foreign selling can be seen for HNB. Will there be any upward trend from current level in next week for this share ? Any predictions..? Pls comment...

GoSL,

Your interest in HNB is for short term trading ( few weeks)
or do you plan to hold for couple of years?

I believe this thread was started by Yellow Knife for academic info and stats
on HNB.

Think it better to have questions / discussion on a different thread.

Below is one for such :
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As far as I gather, the dividends declared  don't have to be reversed.
It a bad move to do so too ( once declared !) unless majority shareholders
vote not to.

Thanks for your advises & directions "The Invisible" & "slstock".
Since, I am a new comer to the tradings, its very much appreciate the correct guidance of you all.. Thank you.