Liu: NDB growth strong

Business, Normal
Source:

The National, Friday January 29th, 2016

 By CHARLES MOI

THE National Development Bank has recorded a 261 per cent growth, with its net assets grew from K150 million to K542 million in the past six years, managing director Moses Liu says. 

“Nowhere in the world can you attain such a growth – only at the National Development Bank,” Liu told employees at a dedication service yesterday.

Liu said the bank had made so much progress in the past six years in terms of increasing profitability.

It increased its workforce from 180 to 343. 

He said the three key performance indicators for 2016 would be profitability, operations and staffing. 

“On profitability, profit target for 2016 is K7.9 million,” Liu told employees.  

“That’s just a guide only. 

“Management expects you (staff) to do better.” He said the bank would continue to lend K140 million at the interest rate of 6.5 per cent per annum. 

The other operational activities to be rolled out this year is the opening of People’s Micro Bank branches in Mt Hagen, Mendi and Kimbe. 

The construction of PMBLs in Tari and Kundiawa branches will also begin. 

Other activities its plans for this year include electronic banking, branchless banking and preparing the National Development Bank group to become a commercial bank.

He said NBD has challenging growth.

“National Development Bank group has a challenging growth strategy, to become more profitable and ensure operational sustainability in preparing to become a commercial bank in the next two years.”

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