NDB secures Sri Lanka’s ‘The Bank of the Year 2020’ award from prestigious ‘The Banker UK’

National Development Bank Sri Lanka was recently awarded the coveted ‘Bank of the Year Sri Lanka’ title by the prestigious The Banker Magazine UK for 2020. This is the second time that NDB earned the Bank of the Year title, the first being in 2018.  

Reflecting on this prestigious achievement, NDB’s Chairman Eshana de Silva stated it was no surprise that NDB had been chosen as the winner of this award.

“NDB has been charting a new course in the Sri Lankan banking landscape over the past few years excelling in customer-centric solutions and deploying digitisation at an impressive pace. Team NDB has made remarkable achievements, outperforming very ambitious targets set, all due to the strategic vision of its leadership team, sheer commitment and passion of the NDB team and invaluable support from its stakeholders such as shareholder and customers. This is a proud moment for all the stakeholders of NDB, who have been an integral part of this success,” he further stated. 

NDB’s Director/Group Chief Executive Officer Dimantha Seneviratne commented on this momentous occasion that this win was a clear affirmation of NDB’s competence in consistently generating returns, gaining strategic initiatives and serving markets in line with The Banker’s judging criteria. 

“This award solidifies the distinct performance of NDB amongst its peers, as a unique financial services group, bringing in a wide spectrum of banking and capital market services under the NDB brand name. We are of the firm self-conviction that factors such as embracing digitisation for internal process automations as well as cutting-edge customer solutions, strategic commitment towards empowering the women’s market segment through initiatives such as NDB Araliya and Vanithabhimana, excellence in customer service and NDB’s ability to generate sound results through macro-challenges make us stand above the rest. I express my sincere gratitude to our shareholders, customers, staff members and all other stakeholders for their unwavering support, and this award is a tribute to the trust they have placed with us,” he further stated.

Seneviratne went on to comment that NDB was quite prompt in introducing relief measures to the COVID-19 pandemic affected customers as well, through its own initiatives such as NDB Jayagamu Sri Lanka and through those introduced by the Central Bank of Sri Lanka. 

“As a responsible financial institution that has been in existence for over four decades, NDB has experienced many economic cycles, and we are well-versed and possess the maturity in navigating through challenging times. As such, we will ensure resilient performance, the sustainability and stability of our customers through dedicated solutions and ultimately the prosperity of the country’s economy.”

The Bank of the Year Awards by the Banker Magazine is regarded as the industry standard for assessing banks globally since 1926. The awards ceremony was hosted virtually from London on 2 December, under the theme ‘Celebrating the Best of Global Banking’.

As per the magazine, excelling institutions from across the globe were recognized through a rigorous and highly analytical process. This was made to reach each Bank of the Year decision where The Banker’s reputation for independence, authority and integrity was applied to each submission. The judges this year placed a particular emphasis on the banks which have led the way in meeting client needs and maintaining resilience in the face of the pandemic.

This win for NDB comes in the light of NDB being recognised as the ‘Best Domestic Bank in Sri Lanka for 2020’ by Asiamoney Magazine as well as the only domestic bank in Sri Lanka to be crowned the Best Consumer Digital Bank Sri Lanka 2020 under the Global Finance World’s Best Digital Bank Awards 2020 program for the second consecutive year. Earlier this year, NDB was also chosen as the Best Islamic Bank in Sri Lanka 2020, by The Banker Magazine UK.

The bank, which is the fourth largest listed bank in Sri Lanka, is one of the fastest growing banks, having had a cumulative average growth rate (CAGR) in advances by 21% and in deposits by 25% in the last four years. The only financial service conglomerate in Sri Lanka, NDB Group is uniquely positioned towards assisting the growth and development of the Sri Lankan capital market to provide its customers seamless access to the product and service offerings of all its group companies.