NDB tightens credit as profits grow

This represents a 13 percent year-on-year growth in comparison to the 2009 financial year when it received P51 million mainly from interest on loans and advances to customers. NDB board chairman, Lesedi Seitei, said the quest to increase non-interest income remains a concern and the next strategy will give due consideration to this factor. Most banks have been trying to diversify from interest income as the central bank has suppressed interest rate margins.

In the period under review, NDB's assets increased from P1.04 billion to P1.05 billion, translating to a 1.6 percent growth as compared to 1.9 percent in March 2009. The bank realised a 3.9 percent reduction in loans and advances from P932 million to P897 million.