Business Times

NDB Group’s Q3 profits grow significantly

NDB Bank’s Group post-tax profit for the third quarter ended 30 September 2010 grew significantly by 83% over the second quarter of 2010.

“In fact, the Group’s growth in Profit After Tax for the third quarter of 83% compares also favourably with the growth in Profit After Tax for the second quarter, which was 44%,” it said in a statement.

The bank’s gross lending portfolio grew significantly by 16% from Rs 56.1 billion as at the beginning of the financial year to Rs 65.1 billion as at September 30, 2010, with all business segments of the institution growing satisfactorily with project finance, SME, retail and trade finance accounting for a major share.

Customer deposits grew 18% over the last 12 months from Rs 44.3 billion as at 30 September 2009 to Rs 52.1 billion. On non performing loans (NPL), NDB said its NPL, ratio remains one of the healthiest in the local banking industry and compares very favourably with the industry NPL ratio of 6.7% as at 30 September 2010.

In a bid to empower youth and stimulate further economic regeneration in post-conflict Sri Lanka, NDB Bank introduced the NDB Jeevana Livelihood Training/Loan Scheme. This pioneering scheme, an industry first, is targeted at youth aged 18 – 35 in both the North and East of the island.

NDB also announced a comprehensive communication campaign in the month of September, with a view to enlightening those who consider saving, but feel that it is impossible given their day to day expenses. “Extending the thought process beyond traditional monetary savings, the NDB Bank’s ‘ithiri karamu, api hademu, rata hadamu’ Savings Drive aims to highlight the potential benefits of cutting down unnecessary waste that takes place in ones day to day lives. Savings made in these aspects will translate to a financial saving in the long term, helping to build a brighter future for individuals as well as the nation,” the statement said.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Controversy over proposed CCC property deal
RPC looking at acquiring rubber, palm oil land in Cambodia, Vietnam
SEC stands firm on non-credit rule in Jan.
FCCISL AGM tomorrow amidst dispute
SIMs for free!
Christmas parties in Nov.
Tea in a pod
No power cuts till 2020:Power Minister
Short-cut to development-2
Collateral free micro finance: Will the proposed Micro Finance Act kill it?
IMF advises the government to tighten its fiscal policy
Cinnamon Grand launches ‘Diabetic Menu’ on World Diabetes Day
Informatics listed as partner of ICAO
Economic growth not reflected in share market
36% fall in after tax profits for DFCC in 2Q11
Renuka Holdings post-tax group profits up 168% in 1H11
Unit Trust code to be ready by 2011
Hayleys post-tax profits up marginally in 1st half 2011
NDB Group’s Q3 profits grow significantly
High latex rubber prices hurt Dipped Products margins
United Motors Lanka Group says strong half-year performance
Hemas reports 85% 1H11 earnings growth
Major tech expansion by Dialog to cover entire Sri Lanka
‘New questions over Lanka's bid to strike oil’ -- Right of Reply
SL can one day earn 15% of GDP from BPOs
Quick approvals, better infrastructure urged as SL grows
Attracting tourists and other foreigners to Ayurvedic medicine
Aitken Spence to manage 5th Indian hotel
BSA pushes for IPR compliance through SAM
‘Sun shines’ on Sunshine Co. profits
Tea Trails become Sri Lanka’s first Relais and Chateaux resort
Caltex scholarships for automobile workers
Laugfs Gas grew faster than LPG market growth
SLT, Dialog, Singer, Abans and others to collect e-waste for CEA
Weliamuna elected to global anti-corruption Board
Strengthening BOI to spur FDI
Energy-More power play from small timers in the future
SEC’s special ‘eye’ on-line
Sri Lankan-born chef leads Canadian team at world culinary event
Milestone as SLT reaches 200,000 ADSL Broadband customers
Declining interest rates and provident fund holders -- Letter
YESL initiates Entrepreneur Education for children of the war-torn East
More banks, but industry still to operate in Jaffna
ICT4D Java World Congress starts Nov 19
MicroChem gets international accreditation
Maldives wants more tourism with Sri Lanka
Seminar on ‘Proposed Education Reforms’
Sri Lanka Design Festival 2010 to offset carbon


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2010 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution