Nations Trust Bank delivers strong performance

Nations Trust Bank continued to demonstrate its resilience in performance during the year. The loan portfolio increased by LKR 26 billion recording a 12% growth during the first six months of the year despite the challenging business environment.

While continuing to provide working capital loans under the “Saubagya” scheme introduced by the government, the Bank disbursed over LKR 19 billion new credit facilities under its own revival fund “Nations Diriya” scheme which is dedicated to extending financial support to key industries, enabling such businesses to recommence and rebuild their business operations. Understanding the importance of assisting the adversely impacted businesses for their revival, the Bank also offered special payment relief schemes and repayment plans for existing borrowers, in addition to the Central Bank mandated moratorium schemes with low interest rates and restructured repayment plans for some of the identified industries.

Nations Trust Bank raised USD 40 million from FMO, the Dutch Entrepreneurial Development Bank and USD 25 million from International Finance Corporation during the first half of the year to support the Small and Medium Enterprise (SME) sector affected most by the pandemic. This would help towards the protection of livelihoods and creation of new employment in the economy.

The Bank also raised LKR 4 billion, Fitch ‘A’ rated, Senior, Unsecured, Unlisted, Redeemable Debenture in July 2021 further strengthening the medium-term funding profile of the Bank.