TKS Securities maintains ‘Buy’ on HNB shares

Monday, 29 August 2011 00:00 - - {{hitsCtrl.values.hits}}

TKS Securities is recommending HNB shares as ‘buy’ on the grounds that it is fairly valued based on FY2011 earnings forecast. The assessment is contained in an interim results update on HNB by TKS Securities Research. Here are excerpts:

Net earnings up 6% YoY to Rs. 1,292.5 m. Improving core business activities (NII up 2.5% YoY), 8.3% YoY growth in non interest income, 22.2% YoY reduction in taxation, solid loan growth and increased contributions from other subsidiary companies facilitated the net profit growth in 2Q2011.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.