CDB shows good half year results

Ceylinco Development Bank (CDB), the development banking arm of Ceylinco Consolidated, augmented its 2005 performance by posting net profit after tax of Rs 20.92 million for the six months ending 30th June 2006.

This bottom line figure reflects an increase of 82.57% amounting to Rs 9.46 million over the corresponding six months in 2005. Revenue showed a growth of Rs 116 million, a percentage rise of 74%, recording a figure of Rs 273 million, while net interest income increased by 69% which is reflected by a figure of Rs 38 million, growing to Rs 91.10 million. CDB’s total asset base stands at Rs 3,430 million as at 30th June 2006 compared to Rs 2575 million recorded at end 2005.

This is a 33% growth, displayed by a figure of Rs 855 million. ROA is recorded at 1.40%, while the annualized EPS is Rs.3, according to a CDB press release.