JN Bank has reported a sharp increase in profitability for the financial year ended March 31, with net profit more than tripling compared with the previous year.
The bank posted net profit of $1.45 billion, up from $439 million a year earlier.
JN Bank says the strong performance reflects improved operational efficiency and resilience despite ongoing local economic challenges.
The bank's cost-to-income ratio also improved, indicating that revenue growth outpaced increases in operating expenses.
JN Bank's total assets increased $286 million, while the customer deposits grew by approximately $24 billion to just under $234 billion, a sign of continued confidence among its customers both locally and overseas.
The bank also strengthened its capital position with total equity rising to nearly $30 billion.
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