NDB reports strong performance

NDB's performance for the nine months ended September 30, 2012 indicates a strong growth momentum. The net profit after tax of Rs 2,342 m for the period, show an increase of Rs 804 m (52 percent) compared to the corresponding period of the previous year, a media release stated.

The impressive performance during the period results from the continued focus on achieving a number of objectives, including re-focusing business and pursuing a growth agenda. Key initiatives to develop the SME and retail segments and to improve asset quality remain on track, it stated.

The Bank has expanded its branch network and continues to work on a number of IT initiatives which enabled service enhancements to its customers and brought substantial improvements in operations.