Best bank: Hatton National Bank
After years of political upheaval and economic crisis, Sri Lanka showed signs of stabilization in the second half of 2023. Despite the challenging landscape, Hatton National Bank (HNB) achieved record growth in the review period and cemented its position as Sri Lanka’s best bank.
AfE 2024
HNB reported its highest-ever profit after tax in 2023, a significant 43% growth versus 2022. The bank’s loan book, which had contracted by 7.1% during the first half of 2023, recorded a growth of 5.7% in the second half of the year.
In the third quarter of 2023, HNB surpassed SLRs1.5 trillion ($4.9 billion) in total deposits, up from SLRs1 trillion in just 10 quarters. This led to a market share of 10.7% in 2023, up from 10.5% in 2022.
Fee income grew, primarily from card-related commissions, which increased by 37% year on year.