NDB conducts Investor Webinar on Q1 Results 2019

L to R: Shanka Abeywardena - Assistant Vice President Corporate Planning & Business Intelligence, Niran Mahawatte - Vice President, Treasury, Buwanaka Perera – Senior Vice President, Corporate Banking, Suvendrini Muthukumarana –Vice President, Finance, Dimantha Seneviratne - Director/ Chief Executive Officer, Deepal Akuretiyagama – Chief Operating Officer, Sanjaya Perera – Senior Vice President, Personal Banking and Branch Network Management, and Indika Ranaweera - Vice President, SME, Middle Markets and Business Banking

National Development Bank PLC released its financial results for the first quarter ended 31 March 2019 [Q1 2019], together with a detailed performance commentary on the results to the Colombo Stock Exchange on 14 May. 

The bank recorded a pre-tax profit of Rs. 3.0 billion for Q1 2019, a growth of 9% over Q1 2018. The bank’s profit after tax of Rs. 1.4 billion was however, a 12% decline over Rs. 1.6 billion reported for the comparative period, due to higher taxes including the new Debt Repayment Levy and the impact from exchange losses incurred on the revaluation of the foreign currency reserves of the bank. The quarter saw moderation in the business expansions of the bank. The total assets base of the bank grew by 2% over 31 December 2018 [year-to-date/ YTD] to reach Rs. 483 billion, a quantum growth of Rs. 9.7 billion.

NDB Bank Director/ Group Chief Executive Officer Dimantha Seneviratne hosted the bank’s online investor webinar to discuss the bank’s financial results from the bank’s Head Office premises in Colombo on 16 May. This is a quarterly endeavour carried out subsequent to releasing quarterly financial statements to the Colombo Stock Exchange, where the bank’s Investor Relations Team facilitates an on-line forum using WebEx technology to which, local and overseas investors, research analysts, stock brokers, fund managers, etc. can connect with the GCEO for a presentation of the financial results and pose any questions and seek clarifications. 

NDB remains to be governed by a competent Board of Directors and led by an equally competent management. With solid plans in place to strengthen the bank’s capital base, NDB is geared for another successful year in 2019, where it will deliver enhanced results to its valued clientele and the country at large. 

NDB Bank which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification, the leading and only global certification for gender equality at work place, is the parent company of the NDB Group, one of the fastest growing financial services conglomerates in Sri Lanka. The bank was recently recognised by various awarding bodies for its remarkable achievements. Among the notable awards won were; ‘Best Domestic Bank in Sri Lanka for 2019’ by Asiamoney Magazine, ‘Bank of the Year in Sri Lanka 2018’ presented by The Banker UK, ‘Best Bank in Sri Lanka 2018’ by Global Finance Magazine, USA, and Winner - Banking Category at the National Business Excellence Awards of the National Chamber of commerce Sri Lanka. From its inception, the NDB Group which includes NDB Bank, NDB Capital, NDB Investment Banking, NDB Wealth, and NDB Securities has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Customers across all group companies have benefited from the product and service offerings of the NDB Group.