The profit attributable to the shareholders of the NDB Group increased significantly by 50% over the corresponding period last year. The profit after tax and the profit before tax also increased significantly by 41% and 48% respectively over the corresponding period last year. This exceptional performance for the period was mainly due to the significant profits earned by NDB Bank. Both the profit before tax and the profit after tax for the NDB bank increased by 56% over the corresponding period last year. The financial conglomerate’s continuous excellent performance further substantiates the stability of the NDB Group in a highly volatile global and local economic environment.

NDB Bank’s core banking revenue (Net Interest Income (NII) and Other Income) grew by 35% over the corresponding period last year. The Bank’s core banking income includes Rs 708 m of gains from the trading portfolio of government securities for the period as compared with Rs 58 m for the corresponding period last year. The Bank’s core banking revenue, excluding the capital gains from government securities, increased by 16% over the comparative period of 2008. The NDB Bank’s NII grew significantly by 24% over the corresponding period last year. The Bank also earned an exceptional capital gain from the sale of shares during the period. Further, during the nine months ended 30 September 2009 NDB Bank was able to strengthen its liquidity position through a significant increase in customer deposits by 39% over 31 December 2008. NDB Bank remains the most well capitalised bank among local banks with a Tier 1 Capital Adequacy Ratio of 13.63% and a Tier 1 & 2 Ratio of 16.37%, which is well in excess of the regulatory minimum of 10%.