NDB Delivers Solid Profits Amidst Gradually Reviving Economic Conditions
Business Today Sri Lanka|December 2024
National Development Bank (NDB) reported resilient performance for the nine months ended September 30, 2024, navigating challenges and optimizing emerging opportunities in a reviving economy.
NDB Delivers Solid Profits Amidst Gradually Reviving Economic Conditions

Kelum Edirisinghe, Director/CEO stated, "We are encouraged by the positive trajectory of Net Interest Margins (NIMS), strong cost discipline, and improved credit cost. These result from our focus on delivering sustainable returns and enhancing shareholder value in a rapidly shifting economic landscape. In line with the Bank's commitment to sustainable growth, we are confident in delivering on our strategic mandate, with strong support from the Board, senior management, and the entire NDB team, reinforcing our contribution to the broader national economic agenda and advancing ESG objectives."

NDB recorded a net operating income of 21.5 billion rupees for the period under review, covering the nine months ended September 30, 2024, a nine percent increase over the comparative period of 2023 (YoY). The notable reduction in impairment charges by 21 percent YoY augured well in maintaining the healthy growth in net operating income against de-growth seen in some key revenue lines.

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Business Today Sri Lanka

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Business Today Sri Lanka

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Business Today Sri Lanka

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Business Today Sri Lanka

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Business Today Sri Lanka

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Business Today Sri Lanka

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Business Today Sri Lanka

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Business Today Sri Lanka

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