Financial Times

Sharp downturn in NTB profits
Nations Trust Bank, a John Keells Holdings subsidiary, has reported sharply lower profits for the third quarter ended September 30.

Profit after tax fell 73 percent to Rs 28 million although group income rose three percent to Rs 547 million compared with the same 2003 quarter. Profit before tax was down by 61 percent to Rs 48 million. Interest income was Rs 433 million, up by just one percent. Although net interest income was up 22 percent to Rs 153 million, other income was down 31 percent to Rs 122 million.

The group figures include those of the fully owned investment banking subsidiary, Waldock Mackenzie Limited, which is managed by the bank.

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