NDB reports Highest-ever Group PBT, surpassing 24 billion rupees

National Development Bank (NDB) announces record profit for financial year 2024, highlighting strong growth and improved key performance indicators reflecting NDB's resilience and commitment to value.

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Kelum Edirisinghe, Director/CEO, NDB commented on the performance. “We are proud of our performance in FY 2024, which demonstrates our financial strength and our ability to adapt in a reviving and evolving economic landscape. In FY 2024, we focused on enhancing operational efficiency and customer engagement through three key pillars: driving transactions, improving portfolio quality, and increasing net interest margins. This resulted in a pre-tax profit of 24.3 billion rupees, up 141 percent from 2023, aided by a one-off gain of 12.8 billion rupees from the ISB restructure. Excluding this gain, our underlying pre-tax profit rose 31 percent year on year, demonstrating our business model's resilience. I appreciate all our stakeholders for their invaluable support in our shared value journey. As we look to the future, NDB remains committed to driving sustainable growth, aligned with national priorities whilst empowering all our stakeholders to unlock lasting prosperity. Our focus on environmental, social, and governance (ESG) principles continues to be at the heart of our efforts, ensuring we make a positive impact on the wider ecosystem.”