Thursday, 19 March 2015 00:04
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The prestigious Global Finance magazine of USA has pronounced National Development Bank PLC as the ‘Best Bank in Sri Lanka’, under the Emerging Market Banks’ awards in Asia Pacific 2015.
The award is conferred by the editors of Global Finance magazine, based on assessment of input from industry analysts, corporate executives and banking consultants.
Criteria for choosing the winners include growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. In addition, a poll of Global Finance’s corporate readership has been conducted in order to increase the accuracy and reliability of the results.
Commenting on the award, NDB CEO Rajendra Theagarajah said: “We are delighted and honoured to be pronounced the ‘Best Bank in Sri Lanka’. Given the prestige and worldwide acceptance commanded by the Global Finance Magazine, this is an honour of the highest form. Moreover, the ‘Best bank in Sri Lanka’ award places NDB amongst the company of top performing banks in the region, including the ANZ Group (the winner of the regional award), State Bank of India, City Bank of Bangladesh, China Construction Bank and Standard Chartered Banks in Nepal and Pakistan, etc.”
This is the 22nd year that the magazine has selected top banking performers in emerging markets. The report covers best banks in Latin America, Central and Eastern Europe, Asia-Pacific, the Middle East and Africa.
“Winning the ‘Best Bank in Sri Lanka’ title affirms that NDB is on an aggressive growth path and is now challenging the bigger players in the industry as a dominant financial powerhouse. It is also testimony for the dedication of the highly capable team at NDB. I wish to take this opportunity to bestow this great honour upon our staff members and our valued customers; along with the assurance that NDB will remain dedicated for continuous empowerment of individuals and communities, driving them towards seamless success while contributing towards sustainable national development. We are also fortunate to have a engaged and extremely supporting Board of Directors whose guidance has played a major role in our success to date,” Theagarajah added.
“Banking markets around the world are changing dramatically in the face of a new regulatory landscape and changing conditions. Some global players are reducing their footprints and product lines, while some regional and local players are expanding beyond their home markets,” said Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance. “We honour those banks that have the deepest commitment to the markets in which they operate and understand the specific needs of customers based in those markets.”
Late last year, NDB was conferred the ‘Banker Financial Inclusion Award 2014’ – the most prestigious global award for the lender that has excelled most in financial inclusion; an affirmation of NDB’s innovative and comprehensive efforts towards promoting the national cause of livelihood development at grass root level.
The bank recorded a stellar financial performance in 2014, with the group’s Profit Attributable to Shareholders (PAS) crossing LKR 4 Billion, for the first time in its history, supported by a strong growth in the balance sheet assets. This robust financial contribution to the bank’s stakeholders is further fortified by its exemplary corporate citizenship; which focuses on acute socioeconomic concerns such as financial illiteracy in marginalised communities, education for rural children, developing entrepreneurship, prevention of child abuse and environmental conversation, and prevention of chronic kidney decease, to name a few.
NDB is one of the fastest growing banks in the country with NDB Group having regional operations in Bangladesh. The bank offers a wide range of commercial banking services through its growing island-wide branch network, catering to an increasing customer base from all walks of life.
Through the combined synergies of the diverse constituents of the NDB Group, its customers have access to a full range of banking and financial services; including project finance, corporate banking, SME lending, retail banking, investment banking, stock brokering, wealth management and insurance solutions making NDB a truly Universal Bank.
