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Sri Lanka Equity Forum » Stock Market Talk » NDB reports non sustainable profit

NDB reports non sustainable profit

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1NDB reports non sustainable profit Empty NDB reports non sustainable profit on Sun May 18, 2014 2:35 pm

Deshadaya


Stock Analytic
Stock Analytic
Sri Lanka NDB Bank net up 135-pct Very Happy 

Watch out! Don’t get carried away.

Profits at Sri Lanka's National Development Bank rose 135 percent from a year earlier to 1.19 billion rupees in the March 2014 quarter, amid positive loan growth, interim accounts showed.

How can the profit increase by 135% when a 6 percent loan and net interest income growth?
Interest income rose 3 percent to 5.1 billion rupees in the quarter and interest expenses fell 3 percent to 3.2 billion rupees and the bank grew net interest income 16 percent to 1.86 billion rupees.
Loan losses were 125 million rupees, up from 23 million rupees.
Then how can the profit increase by 135%?
Fee income rose 54 percent to 594 million rupees. Trading gains rose 68 percent to 716 million rupees.
Mr.R.T. the retired defunct MD of HNB tried the same thing at HNB.

Watch out! Don’t get carried away.
 bounce 

2NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Sun May 18, 2014 7:03 pm

lux2014

lux2014
Manager - Equity Analytics
Manager - Equity Analytics
So, basically income has come from Fee Income and Trading Gains?

3NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Sun May 18, 2014 7:15 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
May I request to add the financial statements file as of 31st March, 2014 please. Thz

4NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Sun May 18, 2014 8:19 pm

schemer


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/386_1400233938541.03.2014.pdf

interest income up by 16%.

I think overall result is good.

5NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Sun May 18, 2014 9:43 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks Schemer for sending the file.

I browsed the bank report quickly not the group results. Apparently, for comparison purpose other income recorded for both quarters are eliminated.

31.03.2014 31.03.2013 Change

Net Operating Income
3,056,728 8,039,959
Other Operating Income
(288,305) (6,054267)
Adjusted NOI
2,768,423 1,985,693 139%

The huge amount registered in 2013 as other operating income is the gain on disposal of insurance segment, (if I am not mistaken). Such type of transactions are not directly associated with bank core operational activities. Reinstate of numbers for interpreting the financial statements is must. Current presentation is in compliance with the listed requirements.
Comments please.

6NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Sun May 18, 2014 10:15 pm

Top Trader


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I don't think anything wrong with performance, see the Fees commission, and Trading Income of Comm, Samp & HNB as well, they also have considerable portion.

For last two to three year i saw the change in the NDB's platform, they targeted more on the retail segment, compare to the prior period.

Kindly note my investment in the banking sector mostly concentrate with Commercial.

7NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Mon May 19, 2014 10:31 pm

Deshadaya


Stock Analytic
Stock Analytic
Don't buy the share thinking the profit has increased by 135%.It is not sustainable.

8NDB reports non sustainable profit Empty Re: NDB reports non sustainable profit on Tue May 20, 2014 7:44 am

schemer


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
NDB has potential to hit above 245/= within few months.lets observe.

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