NDB steps up support for SMEs with specialised unit

By Rahel Kirinde

NDB last week stepped up support for the Small and Medium Enterprises (SMEs) with a specialised Business Banking Unit offering a variety of savings, investments and lending solutions.

“We have re-launched our strategic plan and strategic focus in which SMEs will play a major role for our Transformation 2020 mission,” NDB Director and CEO Dimantha Seneviratne told journalists.

NDB Director and CEO Dimantha Seneviratne addresses the media. Others from left: Assistant Vice President (Marketing) Sanjaya Senarath, Vice President (SME Banking) Indika Ranaweera and Vice President (Personal Banking & Branch Network Management) Sanjaya Perera  - Pic by Upul Abayasekara

He said that NDB, as a bank that has worked in the SME sector for over 30 years and financed over 150,000 SME related projects, understands the specific financial needs of SMEs and specialises in credit assessment.

 “We will be segmenting our corporate clients as small scale businesses and middle market businesses. The small sector would be driven by a centralised approach whereas the middle market would be driven by a relationship approach,” said Seneviratne, stating that their 107 branches would be available to cater to the needs of the corporate sector. “We have already changed the way we evaluate credit to ensure that obtaining credit would be much simpler with a faster turnaround and facility offer letters being delivered immediately.” 

Small scale business would able to obtain loans up to ten million within three to seven days. Business banking customers will also receive a complete suite of Trade Products and Services and unique value added services for trade clients with supply chain finance for their business. Digital Transaction Banking will make it easier for business owners to perform transactions on a digital platform.

 “Trade financing is another key focus area as it is important for the country in today’s context that more and more banks and financial institutions support the trade transactions of the country,” NDB Vice President (SME Middle Market and Business Banking) Indika Ranaweera said.

Corporate clients can also enjoy a host of tailor-made services, including preferential rates and discounts on transactions, bank guarantees, mobile banking and a dedicated relationship manager, who will be directly involved in the business in providing financial consultancy and catering to financial needs of the business. Corporate current account holders will be categorised under three categories: Business Star for an average credit balance of Rs.100,000; Business Class for a balance of Rs. 500,000; and Business Premier for a balance of 5,000,000.