2 Hatton National Bank
Rienzie T Wijetilleke
Board of Directors
1 RANJEEVAN SEEVARATNAM
2 PAMELA C COORAY
3 D H S JAYAWARDENA
4 RAJENDRA THEAGARAJAH
5 RIENZIE T WIJETILLEKE
6 M V THEAGARAJAH
7 R K OBEYESEKERE
8 N G WICKREMERATNE
9 INDRANI GOONESEKERA
Hatton National Bank ranks at number two in the Business Today TOP TWENTY. Celebrating 120 years of service to the nation's financial and banking industry, this accolade is testimony to the bank's resilience and growth during challenging times.
Motivated to look beyond the conventional, the bank strategised proactively, by integrating business focus with the needs of stakeholders.
Overcoming both external and internal hardships the bank recorded a growth of 35 percent in profit after tax. The bank posted an after tax profit of 4.3 billion rupees. Core banking activities contributed to the expansion of financial performance during the year with a majority of the subsidiaries posting commendable returns. HNB Assurance - the insurance subsidiary posted profit after tax of 201.6 million rupees.
Acuity Partners, which was re-launched into the market in early 2009 as a joint venture with DFCC Bank, showed signs of promise during the second half of 2009 and recorded a profit after tax of 16.8 million rupees. During the financial year the bank significantly reduced its Non Performing Advances (NPA) portfolio. Its strategies enabled the bank to successfully constrain NPAs to barely over 6 percent. The industry norm for NPA remained at over 8 percent. Thus, striving to maintain portfolio quality paid off in 2009.
The bank's remittance products and exchange houses delivered substantial value during the year. A combination of owned/managed exchange houses, money transfer businesses and correspondent banks located across strategic global locations formed the backbone of the inward remittance business.
With risk management and corporate governance taking centre stage during the year, Hatton National Bank has been exemplary in its performance and is undoubtedly a pillar of strength in the banking and corporate sector of Sri Lanka.