Sri Lanka’s Hatton National Bank (HNB) recorded another landmark victory with its recognition as ‘Bank of the Year 2017’ in Sri Lanka by the highly acclaimed UK-based financial sector magazine, ‘The Banker’, during a ceremony attended by eminent bankers and financial institutions from across the globe on the 29th of November at the Hilton London Bankside.
HNB’s award was presented based on an analysis of its outstanding financial performance, operational efficiency, NPA management while providing leadership to the digitization efforts of the banking industry.
Accepting the prestigious Bracken Award on behalf of the bank HNB Managing Director/CEO Jonathan Alles expressed heartfelt gratitude to hatna family, his team of 4300 fellow employees for their unwavering support and commitment in driving forward HNB’s ambitious strategy.
He added “we at HNB are honored to receive such a prestigious award and we are greatly encouraged by this resounding endorsement of our bank’s unprecedented efforts to establish a new standard of banking excellence in Sri Lanka; one that is centered on innovation and breakthrough technologies combined with an unprecedented emphasis on superior customer service”.
During the nine months ended September 2017, HNB recorded a group profit before tax of Rs 16.8 billion, while group assets crossed Rs 1,000 billion and the shareholders’ funds surpassed Rs 100Bn supported by the funds raised through the largest ever rights issue by a bank in Sri Lanka.
This superior financial performance was paralleled by landmark developments in the group’s operational framework, which in turn enabled strong improvements in efficiency as reflected by the significant improvement in the cost to income ratio.