Annual Report 2008 of Hatton National Bank Limited

It is a broadly described annual report of Hatton National Bank Limited in the year of 2008. During the financial year, Total Assets of the Bank increase of 9.6%, reaching Rs. 255.3 billion compared to last year’s Rs. 232.91 billion. Total liabilities at end of the year are recorded at Rs. 234.69 billion compared to last year’s Rs 214.49 billion depicting a growth of 9.4%. In 2008 the Bank’s core capital and total capital base improved by 5% & 11% to Rs. 16.23 billion & Rs. 20 billion respectively. The Bank’s total capital ratio which stood at 12.08% in 2007 slipped marginally to 11.40% in 2008. The Income of the Group for 2008 was Rs. 38,725,404,000/= (2007 – Rs. 32,075,889,000/=) while the Bank’s income was Rs. 37,165,915,000/= (2007 – Rs. 29,994,718,000/=). The Bank Post-tax profit recorded for the year edged to Rs. 3.22 billion, an increase of 6.5% over last year’s Rs. 3.02 billion.

The Board of Directors of the Bank has declared a final dividend of 2007 profits of Rs 3.50 per share which amounted to Rs. 824 million, while an interim dividend of Rs. 1.00 per share was declared on 2008 profits which amounted to Rs. 235 million. The Bank has further proposed a final dividend of Rs. 3.00 per share on 2008 profits. Increase in the free capital was also witnessed in 2008 which amounted to Rs. 8.43 billion, reflecting @41% of shareholders’ funds.

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