NDB Posts Strong Profitability in the first half of 2024
Business Today Sri Lanka|September 2024
National Development Bank continued to demonstrate strategic agility and resilience despite less-than-conducive operating conditions, as was reflected in its financial performance for the six months ended June 30, 2024. The Bank posted a pre-tax profit of 6.5 billion rupees for the period under review, an impressive growth of 58 percent, predominantly driven by healthy net interest income.
NDB Posts Strong Profitability in the first half of 2024

Kelum Edirisinghe, CEO, NDB, attributed such performance to alignment with the Bank's current midterm strategy, delivered by the passionate and dedicated NDB team. "Our strategy has been curated and pivoted around three core focus areas: optimizing the cost of funds, enhancing fee-based income through transaction banking, and enhancing portfolio quality. This strategy will enable us to drive profitability and improve shareholder values, helping the Bank reach its true potential. We are encouraged by the recent affirmation of the Bank's credit rating at A-(Ika) by Fitch Ratings Lanka Limited. As the operating environment stabilizes, he further commented that we remain well-disposed in supporting our clientele and the broader economy with our full suite of financial and advisory solutions."

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS TODAY SRI LANKAView all
Vision Care Expands Branch Network with New Wennappuwa City branch
Business Today Sri Lanka

Vision Care Expands Branch Network with New Wennappuwa City branch

Vision Care opened its newest branch in Wennappuwa, further expanding its network of accessible, top-quality vision care services across the country.

time-read
1 min  |
November 2024
HNB Wins' Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs'
Business Today Sri Lanka

HNB Wins' Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs'

HNB was honored with the titles of 'Sri Lanka's Best Bank' and 'Sri Lanka's Best Bank for SMEs at the Euromoney Awards for Excellence 2024.

time-read
1 min  |
November 2024
People's Bank 'People's Pay' App Now Offers Easy Access to CRIB 'My Report'
Business Today Sri Lanka

People's Bank 'People's Pay' App Now Offers Easy Access to CRIB 'My Report'

In the current fast-paced environment, the ability to promptly access vital information can greatly expedite financial transactions.

time-read
1 min  |
November 2024
HNB Partners with John Keells CG Auto
Business Today Sri Lanka

HNB Partners with John Keells CG Auto

HNB has strategically partnered with John Keells CG Auto (JKCG Auto) to offer innovative leasing solutions for their BYD vehicle range.

time-read
1 min  |
November 2024
Pathfinder Foundation Presents Sinhala Translation of 'The India Way' to Dr. S. Jaishankar, External Affairs Minister of India
Business Today Sri Lanka

Pathfinder Foundation Presents Sinhala Translation of 'The India Way' to Dr. S. Jaishankar, External Affairs Minister of India

The Pathfinder Foundation presented the Sinhala translation of Dr. S. Jaishankar's seminal work, The India Way: Strategies for an Uncertain World, (ඉන්දීය. මාවත අවිනිශ්චිත ලෝකයක උපාය මාර්ග) to the visiting Indian External Affairs Minister during a ceremony in Colombo.

time-read
1 min  |
November 2024
SLT-MOBITEL Nebula Institute of Technology recognized on Campus Chapter as the tenth IET
Business Today Sri Lanka

SLT-MOBITEL Nebula Institute of Technology recognized on Campus Chapter as the tenth IET

SLT-MOBITEL Institute Nebula of Technology, the education arm of SLTMOBITEL, has achieved a significant milestone by being recognized as the tenth IET on Campus Chapter.

time-read
1 min  |
November 2024
People's Bank Relaunches Multiple Enhanced Services for Migrant Workers
Business Today Sri Lanka

People's Bank Relaunches Multiple Enhanced Services for Migrant Workers

People's Bank Celebrated World Children's Day by relaunching 'Ethera Udana Minors' Foreign Currency Account with new features.

time-read
2 mins  |
November 2024
EU Delegation Commits to Strengthen Sri Lanka-EU Relations, Extends Presidential Greetings from Key European Leaders
Business Today Sri Lanka

EU Delegation Commits to Strengthen Sri Lanka-EU Relations, Extends Presidential Greetings from Key European Leaders

President Anura Kumara Dissanayake met with the European Union (EU) Delegation, led by EU Ambassador Carmen Moreno.

time-read
1 min  |
November 2024
ADB Delegation Meets President Dissanayake, Pledges Continued Support for Sri Lanka's Economic Development
Business Today Sri Lanka

ADB Delegation Meets President Dissanayake, Pledges Continued Support for Sri Lanka's Economic Development

The Country Director of the Asian Development Bank (ADB) Resident Mission in Sri Lanka, Takafumi Kadono, along with a delegation, met with President Anura Kumara Dissanayake.

time-read
1 min  |
November 2024
Sri Lanka Secures USD 200 Million from World Bank's IDA for Second Phase of RESET Program
Business Today Sri Lanka

Sri Lanka Secures USD 200 Million from World Bank's IDA for Second Phase of RESET Program

The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program.

time-read
1 min  |
November 2024