Brics bank reports 24% fall in profit in first nine months of 2021
The New Development Bank says profit fell to $96m as a flurry of debt issuance lifted interest payments
10 January 2022 - 17:38
The New Development Bank (NDB), the multilateral development financier set up by Brazil, Russia, India, China and SA (Brics), said profit fell more than 24% in the first nine months of 2021.
The Shanghai-headquartered bank, which was often referred to as the Brics bank previously in honour of its founding nations, said profit in the nine months ended September 30 fell to $96m, down from $124m in the corresponding period the previous year, according to a statement posted on the stock exchange news service (Sens) on Monday...
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