NDB reports all-time high earnings last year
View(s):National Development Bank’s profit after tax in 2025 reached an all-time high of Rs.11 billion (2024: Rs. 9 billion), the bank said in a statement this week adding that the latest results saw strong growth across all business lines with Net Banking Revenue increasing by a 45.2 per cent on a comparable basis.
Like most other peers, the bank’s 2024 financial performance was positively impacted following the successful conclusion of the ISB debt restructure with a one-off impact on interest income, fee income and net impairments amounting to Rs. 1.4 billion, Rs. 0.7 billion and Rs. 9.4 billion, respectively for the year under review.
Commenting on the financial results, the bank’s Director/CEO Kelum Edirisinghe, stated: “This achievement is not the end result of one-off gains but purely the outcome of focused execution in our fundamental banking businesses, disciplined credit growth, prudent risk management, a strong deposit franchise, sustained net interest margins, and the continuing efforts to improve our overall operating efficiencies on a consistent basis. Our core banking operations have performed exceptionally well, despite the pressure stemming from lower interest rates, reinforcing the sustainability and quality of our earnings.”
He added: “Importantly, this performance also equally reflects the trust our customers place in us and the dedication of our employees who strive to deliver excellence every day. Their commitment has strengthened our franchise and deepened relationships across retail, SME, and corporate banking segments. Amongst others, one of our standout achievements during the year was the strong growth reported in the Small and Medium Enterprise (SME) loan book, which grew by over 25 per cent year-on-year, clear evidence of our deep and ongoing commitment to advancing the SME sector, a critical engine of national economic growth.”
By year-end, the bank’s total deposits increased to Rs. 707.2 billion, reflecting an 11.9 per cent growth from Rs. 631.7 billion at end-2024. Meanwhile, net loans expanded more strongly to Rs. 593.6 billion, marking a 28.8 per cent increase from Rs. 460.7 billion in the previous year.
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