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Friday Dec 13, 2024
Monday, 16 July 2018 00:00 - - {{hitsCtrl.values.hits}}
National Development Bank successfully negotiated a loan up to $75 million from Commerzbank Aktikengsellschaft Germany recently.
The Dubai-based Alpen Capital Ltd., was the lead arranger to this loan facility. Repayable in 42 months, the purpose of this loan is to be mobilised in NDB’s general banking business, without restrictions on any specific sector.
NDB is presently driven on an ambitious mid-term strategy targeting year 2020, with the goal to become a systemically important bank in Sri Lanka. This loan from Commerzbank Aktikengsellschaft Germany will provide much impetus in expanding the Bank’s balance sheet and steering it towards this goal.
Commenting on this loan, NDB Director/ CEO Dimantha Seneviratne mentioned that the Bank wishes to disburse these funds to customers at competitive rates. He also mentioned that NDB is glad to be a stakeholder of this facility, which saw a renowned foreign bank’s investment in Sri Lanka, and the influx of foreign currency in to the country.
NDB is committed to the development of the country and its citizens, as a trusted financier with a track record nearing 40 years. It is of the firm conviction that the disbursement of these funds across individual, micro financing, SME and corporate clients will further contribute to NDB’s mission in ensuring the success of its customers, and the country at large.
