Bank Trends

Aug 19, 2010 (LBO) – National Development Bank (NDB) June quarter profits fell 17.

9 percent to 434.7 million rupees, due to a fall in fee-based incomes, while personal, premises and operating costs have gone up, a stock exchange filing said.

NDB group’s interest income had come down 16.

4 percent to 2.45 billion rupees, while interest expenses fell at a much faster rate of 28 percent to 1.

39 billion rupees, resulting in a net interest income of 1.05 billion rupees, up 5.9 percent, its accounts showed.

In the June quarter income from investments in equity fell 2.

5 percent to 87.4 million rupees and other income which is mostly made up of fee based services came down 30.

3 percent to 471.8 million, while foreign exchange income rose 63 percent to 158.

5 million rupees.

Personal costs were up 25.5 percent to 378 million rupees, premises costs rose 11.

8 percent to 233 million and operating costs also rose 20.1 percent to 169.7 million rupees.

The banking group made a made general loan loss provision of 26 million rupees. In the same quarter last year it had a reversal of 18.4 million.

Specific provisions fell 68 percent to 25.

6 million rupees, while loan recoveries rose 910 percent to 65.7 million rupees.

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