Business Times

NTB in discussions to inject fresh capital

Nations Trust Bank (NTB) is in talks with foreign parties in a bid to raise funds for their tier two capital, officials said. “We are discussing with different parties, many of whom are development finance institutions,” Saliya Rajakaruna, CEO NTB told the Business Times on the sidelines of an Investor Forum to launch its results. Tier two capital is capital which can absorb losses in the event of a bank winding-up.

He also said that NTB plans to set up four new branches during the coming quarter while adding upto 10 branches in 2012 bringing the total branch network to 60 service points by the end of next year.
He also added that most new branches are to be opened outside the western province moving from its “western province bank” model to a “nationwide” bank. This, he said will launch NTB to the mass market as well from its city centric model.

NTB recorded a net income of Rs 1.7 billion during the third quarter. NTB managed to post 38% year on year growth in profit to Rs 1.2 billion during the first nine months of 2011. Mr. Rajakaruna added that next year NTB will focus on the masses and the SME sector with their branch expansion.

NTB plans to launch a customer centric unique selling proposition to capture the growing SME sector as well. The bank's prime focus is an aggressive service oriented business model to meet working capital and trade financing requirements.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
 
Other Business Times Articles
Bizarre take-over of Chalmers Granaries land
Hotel Developers, Pelwatte small shareholders get raw deal
Plantation firms prepare road-map; scramble to save the industry
Govt. seeks more budget funds from state insurer
Vehicle imports policy to hurt a million people
NTB in discussions to inject fresh capital
Comment - Rumblings over the expropriation bill
Aussie universities compromise standards to attract foreign students : report
Series of panel discussions after the 2012 budget presentation
Emirates places order for 50 Boeing 777-300
Atlas wins exclusive rights to Spiderman, Ben 10 cartoon characters
CIM’s International Chairman to speak at AmCham seminar
Rating agencies Moody and Fitch say new laws could deter investment
Pagoda and Green Cabin - the legend lives on
Is the new Act to take over underperforming enterprises or underutilized assets an urgent need?
Panic buttons at Colombo bourse, who’s responsible?
New strategies, nationwide ICT development boost PCH earnings
SLPI discussion on global financial crisis
Lankan minister urges Belgium firms to invest here
'Intense' competition, pressure on interest from high liquidity : DFCC CEO
Global hike in commodity prices helps CIC
International quality convention in Sri Lanka next year
Performance testing of four-wheel vehicles first time in Sri Lanka
Energy expert calls on the government to promote Hybrid vehicles
Old “Sri “vehicles get new registration numbers with English letters
Luxury living on wheels gains popularity in Sri Lanka
Vehicle imports to Hambantota means going back in time
KIA Motors (Lanka) to sell 2300 motorcars this year
Sri Lanka’s vehicle registrations hit a new high
Brandix projects doubling in size in 4 years
Arpico plans doubling retail space in 24 months
LOLC reports strong post-tax profit growth for 6 months
Expolanka reports Rs. 668 mln PAT for 1H11
Commercial Bank’s net profit tops Rs 6 billion at 3Q 2011
Union Bank post-tax profits up by 75.4%
Overseas Realty reports 77% profit growth for 9 months
NDB Bank’s post-tax profit up 32% in 9-mth period

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution