SDB bank reports strong growth in 2021
View(s):SDB bank has achieved strong financial results during 2021, amidst an unprecedentedly challenging economic environment. Total profits for the year ended 31st December 2021 stood at Rs. 909 million, recording a year-on-year (YoY) growth of 9 per cent, while profit for the 4th quarter of the year was recorded at Rs. 159 million.
Net interest income grew by 11 per cent YoY to Rs.6.774 billion, while total operating income grew by 9 per cent YoY to reach Rs.7.4 billion.
“SDB bank’s loan book too showed robust growth, expanding by 9 per cent against the year prior to Rs.111.89 billion, while a total of Rs.65 billion was disbursed through 98,185 accounts during the year,” the bank said in a media release.
Discussing the bank’s financial performance, Niranjan Thangarajah, acting CEO at SDB bank said, “We have focused heavily on our core SME and MSME customers during the year, with special emphasis on female-owned and led enterprises, in line with our drive towards inclusive banking. The exceptional planning and strategy devised by our senior management team has proven to be effective during the year, while we also benefitted from the rescinding of pandemic-related restrictions. Furthermore, our commitment to working together with our customers in mutual partnership, placed us in an excellent position to detect early warning signs of financial distress, and helped us guide our customers towards making the right decisions. This is reflected in our expanding loan portfolio, coupled with shrinking NPLs. In 2022, we look forward to building on the achievements we have made in 2021.”
2021 also saw SDB bank conduct a Secondary Public Offering (SPO), which received exceptional interest from investors, enjoying a hefty oversubscription on the opening date of the issue, the release said. The bank also solidified its global reputation as a pioneering financier for SMEs in Sri Lanka, playing host, in November 2021, to the Annual Meeting of the Asia Pacific Chapter of the Global Alliance for Banking on Values (GABV).
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!