LBR LBO Summit
LBR LBO Summit

Sri Lanka’s NDB net down 32-pct in September

Nov 13, 2015 (LBO) Sri Lanka’s National Development Bank PLC reported a 32 percent dip in profits to 855 million rupees in the September quarter of 2015 compared to the same period in 2014, interim report showed.

NDB reported earnings per share of 5.13 rupees for the quarter, interim accounts filed with the Colombo Stock Exchange said.

The Bank’s net interest income fell 7.8 percent to 1.9 billion rupees while interest income fell 2 percent to 5.33 billion rupees and interest expenses rose 1.2 percent in the quarter.

Loans grew 10 percent to 192 billion rupees and customer deposits grew 12 percent to 169 billion rupees, the bank said.

Net assets grew 4 percent to 30.0 billion rupees and gross assets grew 6 percent to 254 billion rupees.

Group capital adequacy fell from 17.5 percent to 16.82 percent. The bank’s total capital adequacy was at 14.20 percent, above regulatory minimum.