CDB posts Rs. 20.92m net profit in 1H, 2006

Ceylinco Development Bank (CDB), the development banking arm of Ceylinco Consolidated, augmented its 2005 performance by posting a net profit after tax of Rs. 20.92 million for the six months ending June 30, 2006.

This bottomline figure reflects an increase of 82.57% amounting to Rs 9.46 million over the corresponding six months in 2005. Revenue showed a growth of Rs 116 million, a rise of 74%, recording Rs. 273 million, while net interest income increased by 69% to Rs 38 million, growing to Rs 91.10 million.

CDB's total asset base was Rs 3,430 million as at June 30, 2006 compared to Rs. 2,575 million recorded at end 2005, a 33% growth - Rs. 855 million. ROA is recorded at 1.40%, while the annualised EPS is Rs.3.