CDB records Rs 44m net profit

PROFIT: Ceylinco Development Bank (CDB), the development banking arm of Ceylinco Consolidated augmented its 2005 performance by posting a net profit after tax of Rs 44 million for the year ended on December 31, 2006, reflecting an increase of 12% over the previous year.

Revenue showed a growth of Rs 275 a percentage rise of 75%, recording a figure of Rs 638. For 2006, net interest income increased by 58% or Rs 78 to Rs 211. CDB's total asset base stands at Rs 4,078 million for the year under review, compared to Rs 2,576 recorded at the end of 2005 which reflects a growth of 58%.