National Development Bank said its first quarter profits rose 58% to Rs. 225.9 mn due prevailing low interest rates and capital gains. Interest expense during the period rose to Rs. 643.6 mn, while equity income went up 38% to Rs. 115.4 mn.rn
rnThe bank provided Rs. 149.2 mn for possible credit losses, while the VAT on bank profits cost them Rs. 27.6 mn.rnrn rnrn
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NDB Group quarter ending March 31, 2003rn(figures in Rs. 000)
