Company filings and market news from across Sri Lanka's stock market.
HNB Life PLC (HASU) won the 'Best Life Bancassurance Provider in Sri Lanka' award for the fifth consecutive year. The company highlighted its partnership with parent Hatton National Bank (HNB) and said it is targeting a 10% market share via the partnership channel.
Hatton National Bank reported March 2025 quarter profit rose 48% to LKR 10.6 billion (EPS LKR 18.71). Net interest income grew 8% to LKR 23.6bn, loans edged up to LKR 1,078bn, insurance premium income rose 26% to LKR 5.4bn and Tier I capital fell to 17.60%.
HNB General Insurance was named Sri Lanka’s Most Awarded General Insurance Company 2024 by LMD and had its Fitch credit rating upgraded to 'A(lka)' from 'A-(lka)'.
Hatton National Bank PLC (HNB.N0000) formalised a group-wide data-sharing agreement with its subsidiaries, including HNB Finance PLC, to strengthen data governance and ensure compliance with Sri Lanka's Personal Data Protection Act. The framework introduces advanced security measures, access controls and regular audits.
Hatton National Bank (HNB) and Singer Sri Lanka have launched an exclusive financing package for John Deere tractors offering preferential interest rates, a waived first-year credit card fee, discounted insurance and HNB Assurance life cover of Rs.4.5m (accidental) and Rs.600,000 (natural), plus Singer's warranty and service benefits.
HNB Assurance reported 222 financial advisors qualified for the Million Dollar Round Table (MDRT) in 2024, including 23 Court of the Table and 8 Top of the Table qualifiers. Management said the milestone reflects its investment in advisor training and distribution channels.
Hatton National Bank PLC reported Group PAT of Rs 44.8 Bn (Bank PAT Rs 41.3 Bn) for 2024, up from Rs 23.6 Bn, and declared a cash dividend of Rs 15.00 per share. Asset base topped Rs 2.0 Tn, Net Stage 3 ratio improved to 1.88%, and CASA and digital fee income strengthened.
HNB Assurance Group reported 21% GWP growth to Rs. 22.7 billion in 2024 and consolidated PAT above Rs. 1.8 billion (+7%). HNB Life (HASU) secured an 'A' Fitch rating while the Group's funds under management rose 24% to Rs. 55 billion.
Dividend · Rs 3.90 · XD Apr 1, 2025
First And Final dividend of LKR 3.9/share; XD 2025-04-01; record 2025-04-01; payable 2025-04-23; FY 2024
Budget 2025 raises Capital Gains Tax to 15% for individuals/partnerships and to 30% for other entities. HNB Stockbrokers noted the current CGT definition does not include gains from trading listed equities.
Commercial High Court (Colombo) ruled in favour of Rice Lanka Processing Ltd, finding that an Amana Takaful PLC cover note provided valid interim insurance for two flood claims totalling Rs. 66,006,338. The decision affirms cover notes are legally binding and raises insurer liability in similar cases.
HNB Life's Partnership Channel posted GWP of over Rs.6.5 billion in 2024 (31% YoY) and NBP above Rs.1.4 billion (39% YoY) revealed at its Partnership Life 2025 event. The company also noted 135 MDRT qualifiers and thanked Hatton National Bank and broker partners for their support.
HNB Assurance signed an MoU with Singer Sri Lanka to enable HNB Assurance policyholders to pay premiums at Singer's 400+ outlets, with selected branches open 8:30 a.m.–7 p.m. daily including weekends. The tie-up broadens payment points and supports HNB Assurance's push for cashless and digital payment options.
HNB General Insurance marked its 10th anniversary, noting steady growth, a Fitch A- (lka) rating and a 57-branch network while highlighting digital initiatives (Claimee, OneInsurance) and parametric insurance products. The company emphasised customer-centric growth and innovation for 2025–2027.
LOLC Life reported 56% cumulative GWP growth to Q3 2024 and LOLC General Insurance posted 12% cumulative GWP growth, boosted by digital platforms, the new Health Maxx product and a LOLC Takaful offering; both are subsidiaries of LOLC Holdings.
HNB PLC appointed Damith Pallewatte as Managing Director/CEO effective 22 November 2024. He served as Acting CEO since April, under whose leadership HNB reported Rs 38.7Bn PBT for the nine months of FY24 and outlined priorities including MSME revival, trade/export facilitation and digital banking.
HNB PLC appointed Damith Pallewatte as Managing Director/CEO effective 22 November 2024. He has been Acting CEO since April; under his leadership HNB recorded Rs. 38.7 billion PBT for 9 months of FY24 and outlined priorities including MSME revival, digital banking, trade/export facilitation and a potential Bangladesh acquisition.
HNB Assurance (HNB Life - HASU.N0000) reported group Gross Written Premium of Rs.16.6bn for the nine months to 30 Sep 2024, a 22% increase. HNB Life's GWP rose 27% to Rs.9.9bn, group PAT grew 26% to Rs.734m, and Fitch affirmed an A- (lka) insurer financial strength rating.
Hatton National Bank PLC reported Group PBT of Rs 38.7 Bn and Bank PAT of Rs 22.2 Bn for the nine months ended Sept 2024. Deposits reached Rs 1.62 Tn, LKR CASA rose to 35.8%, net stage 3 ratio improved to 3.32% and Tier I capital was 15.51%.
HNB Life (HASU.N0000) signed a Memorandum of Understanding with the State Mortgage and Investment Bank to offer integrated life insurance solutions, mainly Decreasing Term Assurance, to SMIB’s borrowing customers.
HNB and HNB Assurance signed an MOU with Macksons Solar to offer a bundled solar solution combining installations, insurance coverages (solar, life, medical, disability, maturity benefits) and tailored HNB loan facilities to customers.
HNB Assurance PLC held its Partnership Awards 2024 in Bangkok — its first international awards — and reported its partnership channel crossed Rs.5 billion Gross Written Premium, contributing about 46% of total GWP. The company recorded 122 MDRT qualifiers and was named Best Life Bancassurance Provider for four consecutive years.
HNB Assurance (HNB Life) and HNB General Insurance reported group GWP of Rs.10.9 billion in 1H 2024, up 20% YoY. HNB Life GWP was Rs.6.4bn (+24%) and HNB General GWP Rs.4.6bn (+14%), with group PAT +14% and assets up to Rs.56.5bn.
The Sri Lanka–Korea Business Council panel featured Advocata chair Murtaza Jafferjee warning that rising debt, high interest rates and sharp rupee depreciation threaten fiscal stability and require reforms; IMF projects about 3% annual GDP growth for 2024–29 contingent on disciplined policy.
Hatton National Bank (HNB.N0000) reported Group PAT of Rs. 16.2 billion and Bank PAT of Rs. 15.4 billion for the six months to June 2024. Loans grew by about Rs. 27.6 billion in Q2, rupee CASA rose Rs. 58 billion in 1H, Tier I/Total CAR at 16.17%/19.69% and LCR at 383.9%.
Hatton National Bank group reported Q2 (June 2024) profit of 8.5 billion rupees, up 262% year‑on‑year, driven by sharply lower impairment provisions even as group net interest income fell 13%.