During the 9 month period under review, the total assets of the Bank grew steadily from Rs.70 billion to Rs.84 billion. The gross loans and advances portfolio recorded a growth of Rs 8.6 billion or 23% with half the growth coming in the 3rd quarter, indicative of the growing credit demand in the market. Total deposits of the Bank, which stood at Rs.44 billion at the end of December 2009 increased to Rs.48 billion at the end of September 2010 recording a growth of Rs.3.6 billion or 8%.
Net interest income, recorded a 28% growth, increasing from Rs.2, 680 million in 2009 to Rs.3, 434 million by third quarter 2010 aided by volume growth in the lending book, Operating expenses increased by 15% from Rs.2, 449 million to Rs.2, 817 million. A focused approach to expense management helped the cost to income ratio to improve by 2% to 55% compared to the corresponding period in 2009.