NDB Bank increased its consolidated net profit by 24% to Rs.2.1 billion for the year ended December 31, 2009 over the corresponding period in 2008.
According to the Bank’s financial statements, Group income for the period under review increased by 13% to Rs.14.1 billion from Rs.12.5 billion while net interest income also increased by 12% to Rs.4.2 billion.
NDB’s revenue from banking increased to Rs.13.1 billion for the 2009 financial year from Rs.11.6 billion in 2008.
Revenue from equity increased to Rs.266 million from Rs.251 million while the Group’s property investment sector brought in revenue of Rs.156 million in 2009, an increase from Rs.148 million recorded in 2008.
The notes to the financial statements mention that the bank acquired a controlling interest in an investment banking operation in Bangladesh (NDB Capital Limited) in January 2009. Accordingly, the effective holding by the bank in NDB Capital Limited is 77.8%. Further, in June 2009 the bank acquired a controlling interest in Eagle NDB Fund Management Limited. |
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