At Group level PBT and PAT were at Rs 5.9 Bn and Rs 4.8 Bn respectively. Commenting on the Bank’s results Managing Director / CEO of HNB Jonathan Alles stated: “HNB has demonstrated resilience, strength and stability during a year of unprecedented disruption. Accordingly, the Bank recorded a net exchange gain of Rs 1.9 Bn which was a 53% YoY improvement compared to Q1 2020. The impairment charge for the quarter ended 31st March 2021 was Rs 2.7Bn in comparison to Rs 4.7Bn recorded for Q1 2020. Accordingly, the profit after tax for the Bank improved to Rs 4.7 Bn by 78% during Q1 2021.

Source: The Nation May 13, 2021 16:07 UTC