LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
Tue, 12 December 2017 08:08:39
Sri Lanka’s NDB posts Rs1.6bn profits; 30-pct YoY growth
15 May, 2015 14:06:19
May 15, 2015 (LBO) Sri Lanka’s National Development Bank PLC reported 1, 558 million rupees of profit after tax in the first quarter of 2015 up 30 percent compared to the same period 2014, interim report showed.
The Bank’s total operating income before impairment charges for loans and other losses and operating expenses grew by 18 percent year-on-year (YoY) to 3,631 million rupees in the first quarter of 2015.

Net interest income grew 7 percent to 1,920 million rupees and net fee and commission income up 8 percent to 455 million rupees in the quarter ended in March 2015.

The Bank’s net gains from its trading investment portfolio declined by 27 percent to 284 million rupees in the quarter as compared to the prior year, and net gain from financial investment declined 70 percent 295 million rupees.

Other Operating Income increased by 235 percent to 935 million rupees over the prior period, which was predominantly due to the increased Group dividends of 569 million rupees received during the period.

However, at a Group level, total operating income recorded a marginal decline of 3 percent which was due to the reduction in net gains from the Group’s total investment portfolio.

Impairment charges for loans and other losses was a release of 64 million rupees for the current quarter as compared to a charge of 28 million rupees for the corresponding quarter of 2014.

“This was a direct outcome of the improved asset quality of the Bank despite a static loans and advances portfolio, compared to the prior year,” the bank said in a statement.

The resultant Non Performing Loan (NPL) ratio of the Bank was 2.49 percent and compares with an NPL ratio of 2.51 percent at the end of 2014.

The total capital base of the Bank as at 31 March 2015 was 29,406 million rupees, whilst the same at the Group level was 36,648 million rupees.

Core capital and total capital adequacy ratios of the Bank were 10.11 percent and 14.86 percent, whilst the same ratios for the Group were 12.70 percent and 17.56 percent.

The Group Earnings Per Share (EPS) for the first quarter was 21.12 rupees and Return on Shareholders’ Funds (ROE) was 12.42 percent.

“These shareholder returns indicators are expected to improve with planned aggressive business expansions which will improve the profitability of the Bank and the Group,” the bank said in a statement.

The Bank is driven by a target to expand its branch network to 100 branches in 2015.

Bookmark and Share
Your Comment
Your Name/Handle
Your Email (Your email will not be displayed)
Location
Country
Your Email
Receivers Email
Your Comment