Deposits in Banks 1,333,822,013.00 - 490,589,920.00 172%
Loans & Advances 3,854,030,475.00 - 3,307,640,589.00 16%
Net Investment in Lease 8,538,928,436.00 - 7,095,726,690.00 20%
Net Interest Income 754,829,639.00 - 551,818,837.00 37%
Net Profit 245,518,760.00 241,476,737.00 2%
Finance Expenses 3,536,101.00 4,392,793.00 (19.50%)
Administration Expenses 206,344,059.00 164,646,159.00 25%
Provision for Loan Losses 52,567,264.00 13,035,330.00 303%
Income Tax Expenses 47,550,917.00 19,362,693.00 146%
NAVPS 45.67 44.15
EPS 4.62 4.54
Considering the above figures I feel CDB is doing quite well even under this stiff policy rates. Net interest income has grown considerably and net investment in lease (despite high vehicle tax) has grown by 20%. Due to the high rates for deposits CDB has increased its deposits by 172%.
For the last six months period CDB has reduced finance expenses by 19.5% while the administration expenses increased by 25%.Provision for loan losses is up by 303%.
I think even in difficult times CDB has done ok. Historically, CDB has performed well in third and forth quarters of the year. So, if the company record a flat growth we can expect at lest 9.24 of EPS (4.62x2)
Share Price: CDB has maintained its price between 31.00-47.50 during the above period and if we get good times ahead we can expect at least 80.00-90.00 (9.24x11)
Currently, I have some CDB and worth its price and hope to collect more. This is not a recommendation to buy. This is just to provoke forum members to have a brainstorming on CDB.