First Capital Research (FCR) said the new capital injections will give National Development Bank PLC (NDB) the much sought-after heft to expand its loan book by as much as 14 percent in the fiscal 2021 and 2022, nearly doubling the rate the bank expanded its loans in the pandemic-stricken year in 2020.
In an equities report issued on the heels of the Rs.8.0 billion rights issue and Rs.3.0 billion private placement to Norfund, the research firm said that the bank intends to utilise the entirety of its fresh capital to expand its loan book in the ordinary course of businesses, including its continued expansion in the micro and small and medium enterprise portfolio.
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