NDB Expects To Cut Loses By 50% :: Mmegi Online

After experiencing a serious set back in the 2013/14 financial year, the National Development Bank (NDB) vows to cut its losses by 50 percent in the current on-going audit of 2014/2015 financial year.

Despite tight liquidity, NDB remains self-sustainable and continues borrowing from the capital market which is still under a constrained interest rates environment.

Updating the media on their current business environment recently the CEO of NDB Lorato Morapedi said that an interest constrained environment and high cost of funding immensely affects the Bank’s profitability. The CEO further reflected that despite all these challenges, the Bank intends to break through the ceiling and shrink the Bank’s 2013/14 comprehensive loss by at least 50 percent during the year 2014/15 to ensure that the NDB tracks back to profitability.

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NDB Expects To Cut Loses By 50%

After experiencing a serious set back in the 2013/14 financial year, the National Development Bank (NDB) vows to cut its losses by 50 percent in the current on-going audit of 2014/2015 financial year.

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