NDB posts P87m loss on high impairments

Monday, June 01, 2015

The National Development Bank(NDB) has said it expects to record a loss of P86.4 million for the financial year ended March 2014 on the back of huge impairment charges.

In a statement released on Friday, CEO Lorato Morapedi said that despite the expected loss, the bank registered growth in interest income, assets and advances. According to Morapedi, interest income increased by eight percent from P202 million in 2013 to P218 million.

“Operating expenses increased by only 4 percent which is indicative of the Banks efforts to manage costs in an environment of increasing administration costs,” she said.

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NDB posts P87m loss on high impairments

The National Development Bank(NDB) has said it expects to record a loss of P86.4 million for the financial year ended March 2014 on the back of huge impairment charges.

A promising step for public schools, but...

Does the left hand know what the right hand is doing at BFA?

New public co. to transform school infrastructure

Parly rejects motion on judicial officers' 'security unit'

Keorapetse rules on Moswaane's exaggerated counterfeit medicines claims

Small stock theft hits Serowe

Woman torches boyfriend's house after finding another woman

Dog found feeding on foetal remains in Nkoyaphiri

A promising step for public schools, but...