NATIONAL DEVELOPMENT BANK - Technical Summery

NATIONAL DEVELOPMENT BANK | NDBN

Rs. 150.10 | PER 2.8x

#  National Development Bank Plc reports growth in Net Interest Income (NII) and Profit Attributable to Equity Holders for FY 2012

#  NII in FY 2012 amounted to Rs. 5.85bn relative to Rs. 4.77bn recorded in the same period last year, representing a growth of 23% (Y-o-Y).

# Profit attributable to equity holders for FY 2012 increased 227% (Y-o-Y) to Rs. 8.84bn from Rs. 2.71bn last year. This was mainly due to the capital gain of Rs. 5.9bn booked in through the divesture of 41.56% in Aviva NDB Holdings and a 5% of Aviva NDB insurance.

# NII in Q4 2012 amounted to Rs. 1.64bn, up 23% (Y-o-Y) from Rs. 1.33bn in Q4 2011.

# Profit attributable to equity holders in Q4 2012 increased 581% (Y-o-Y) to Rs. 6.80bn compared to Rs. 998.63mn in Q4 2011. This too was due to the divesture mentioned above.

Indicator                                    NDBN                             Sector

Price (at 13/02/13)                       150.10                                 n.a

P/BV (x)                                         1.0x                                  1.8x

Trailing PER (x)                           2.8x                                 11.3x

Book Value per Share (Rs)        151.81

source - acuity research