NDB Group crosses Rs. 300 bln in total assets
View(s):National Development Bank’s total assets in the group for FY15 closed at Rs.315 billion which translated to a 17 per cent growth whilst the same at the bank level was Rs 309 billion, an equivalent of 18 per cent growth over the prior year, a media release said. The NDB Group’s gross income increased by 3 per cent during the year up to Rs. 26,916 million, over the comparative year. Net Interest Income (NII) of Rs. 807 million recorded a marginal decline of 1 per cent over the prior year, largely due to the less than favorable interest rates that prevailed in the market. The group’s net fee and commission income and net gains from trading recorded commendable growth of 23 per cent and 20 cent respectively, over the prior year.
This was a result of increased volumes of banking operations supported by a branch network of 93 and enhanced operations of the group companies via their expert capital market offerings,” the release said. Group Profit Attributable to Shareholders (PAS) for the year was Rs. 3,542 million. ”When analysing the performance of the bank on a quarterly basis, it is evident that more growth was skewed towards the latter half of the year the release said noting that the performance during the first six months of 2015 was relatively modest, partly due to macro-economic and political conditions that prevailed during this period. It is expected that, the benefits of the accelerated growth achieved in the second half of the year will reflect in the financial results in the year 2016,” the release added.