NDB extends losses on industry headwinds

Thursday, December 15, 2016

In the end: Morapedi is heading to transformation of NDB

The National Development Bank (NDB) has recorded a loss of P6.2 million for the half-year ended September 2016 adding to the P21 million deficit the bank suffered in the full year to March 2016.

The half-year loss compares negatively to a profit of P2.4 million recorded for the same period in 2015.

The bank attributed the loss to challenges in the banking industry with regards to increasing defaulters and tight liquidity.

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