|
|
 |
 |
 |
| Thursday, 20 November 2003 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Strong Q3 profits at NDB reflect well balanced strategies The NDB Group reported strong results for the nine months ended September 30, 2003, with profit after tax and minority interests increasing by 33% over the corresponding period last year, to Rs. 833 million. This translates into a return on equity of 15.4% on an annualised basis. Capital adequacy (Tier 1 and 2) was 21%. Over the last few months, there has been increased demand for project lending, especially in the infrastructure development and hotel sectors, in which the Group carries an encouraging pipeline of projects, and has the exceptional expertise to evaluate, structure and distribute deals. This expertise is a competitive advantage for NDB, which is being sharpened by increased investment in training, and the continuing development of progressive people management policies. However, project lending, which is long term in nature, is highly sensitive to investor confidence in the economy, and necessarily involves long lead times between formulation of plans by investors, and the disbursement of funds. It is hoped that growing investor confidence will not be shaken by recent political events. NDB remains committed to the SME sector. Since inception it has directly assisted around 4,500 small scale entrepreneurs with a total lending of around Rs. 5.0 billion. Additionally it has played an important apex role in refinancing credit lines for participating Credit Institutions (PCIs) including the recent DASUNAl Loan Scheme, which is targeted to the Southern Province, and the Inland Fisheries Development Scheme. NDB also currently works as a PCI under ADB-funded SAHANAYA Loan Scheme, the Tea Development Project (TDP) and the Second Perennial Crop Development Project (PCDP II). In addition, it operates another scheme with the support of the German Development Bank (KfW), solely to help the micro sector. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
