National Development Bank Plc Adjusts Evaluation Amid Mixed Technical Indicators and Stable Fundamentals

National Development Bank Plc, a prominent player in the Major Banks sector, has recently undergone an adjustment in evaluation. This revision reflects a shift in its technical score, which has transitioned from a bullish stance to a mildly bullish outlook. The technical indicators present a mixed picture, with the MACD showing mildly bearish trends on a weekly basis, while maintaining a bullish stance on a monthly basis. The Relative Strength Index (RSI) remains neutral for both weekly and monthly periods, indicating a lack of significant momentum. In terms of long-term fundamentals, National Development Bank Plc has demonstrated a stable average Return on Assets (ROA) of 1.02%. The bank's Net Interest Income has shown consistent growth, albeit at an annual rate of 0%. Notably, the company reported strong operating cash flow figures, reaching LKR 71,010.57 million, and a high Credit Deposit Ratio of 86.81% during the first half of the year. Despite the recent evaluation adjustment, the bank's attractive valuation, characterized by a Price to Book Value of 0.72 and a high dividend yield of 0.3, positions it favorably within its industry. Discover the Latest Mojo Score and Financial Trend Performance - SignUp in less than 2 Minutes and get FREE Premium Access.