19. National development Bank
National Development Bank (NDB Bank) secured the 19th position in the ranking.The bank was greatly affected by the margin squeeze that prevailed during the financial year. This had a negative effect on the loans and receivables portfolio. A 3 per cent increase in PAT was recorded.
The bank has incorporated retail and SME banking over the years, this accounted for 39 per cent of the total loans. Due to the Bank's focus on fixed deposits that target investors, savings and current accounts deposits were relatively small.
Contribution to total operating income from retail and SME banking grew from 36 to 40 per cent, with plans for further increase to reach the target of 50 per cent. Fee based income increased from 20 per cent to 27 per cent.
With per-capita income and GDP showing signs of growth as the economy moves in a positive direction NDB Bank will need to look more towards retail and consumer banking as well as financial services.