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The NDB Group's financial statements for the nine months ended September 30, 2005, reflects the merged position of National Development Bank Limited and NDB Bank Limited. The merger was finalised on August 1, 2005.

NDB Group recorded a profit of Rs. 1,348 million before tax for the period ended September 30, 2005 compared with Rs. 1,054 million for the corresponding period last year, an increase of 28%.

The net interest income and net other income increased by 21% and 7% over the corresponding period. The net interest income was Rs. 1,959 million for the period compared to the Rs. 1,618 million for the corresponding period last year. The increase of 21% over the corresponding period last year was mainly due to the increase in the lending portfolio of the commercial banking operations of Rs. 2 billion.

This faster growth in commercial banking lending compensated for the slight decline in long term loans. There was also an increase of Rs. 56 million in the commercial banking fees, forex and commission income over the corresponding period.

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