Asia Wealth Management recommends NDB as “buy”

Tuesday, 20 September 2011 00:05 - - {{hitsCtrl.values.hits}}

National Development Bank (NDB) with a branch network of 51 as at June 2011, and an asset base of Rs. 124.7 b (as at 30 June 2011) is the fifth largest private Commercial Bank in Sri Lanka (in terms of asset base). Interest income, has shown a compound average growth of 12% over a period of six years. A detailed analysis on quarterly performance for FY2010 would reveal overall interest income has declined due to continued dip in interest income earned on other interest earning assets.