World Finance rates NDB the ‘Best Banking Group in Sri Lanka’

Monday, 4 November 2013 00:00 - - {{hitsCtrl.values.hits}}

The UK-based World Finance magazine has rated NDB Group as the ‘Best Banking Group in Sri Lanka’ for 2013. World Finance is a highly acclaimed international business journal that is renowned globally for its accuracy, credibility and wide readership. The prestigious accolade recognises the bank’s commitment to continued excellence and the group’s overall financial performance. Having begun operations over 30 years ago, NDB was originally a specialised bank that provided financial services for the development of industry and business ventures. Subsequent to strategic redirection in 2005, NDB evolved from a single product, credit line dependent Development Bank to a fully-fledged banking conglomerate.

Provider of diversified, full-fledged banking services The bank commenced commercial banking operations after acquisition of ABN AMRO Bank Colombo branch in 2001. Since then the NDB Group has transformed itself to a provider of diversified, full-fledged banking services including commercial banking, development financing, long-term project financing, investment banking, leasing, housing finance, venture capital, stock broking, wealth management and property investment. Commenting on the award, Chief Executive Officer of NDB Rajendra Theagarajah said: “We are delighted to be recognised as the best banking group of the country by the prestigious World Finance magazine. I wish to acknowledge the tremendous contribution by my predecessor Russell de Mel along with the staff and management of the bank who rallied around him, in achieving this recognition for the previous year. The award justly compliments the success that the NDB Group enjoys today, with robust profitability, a sound capital base and the best in industry NPL levels. Supplemented by the expertise of a team of committed professionals, NDB Group is now positioned as a knowledge hub. With its comprehensive financing proposition of providing a multitude of services under one roof, NDB Group is poised to stimulate the economic renaissance of Sri Lanka.” Partnering future growth and prosperity In the context of a rapidly changing banking landscape and a challenging marketplace, the NDB Group has remained steadfast in its quest to partner Sri Lanka’s future growth and prosperity. Looking towards future, the NDB Group envisages of becoming seamlessly integrated in terms of business processes, where client information will flow freely within the group constituents and customised financial solutions will be devised based on the their individual needs; assuring the highest quality of service and convenience to its clients. NDB Group also expects to continuously enhance its technological platform to improve the efficiency of such processes to become a force in the financial industry locally as well as regionally. NDB is one of the fastest growing banks in the country with NDB Group having regional operations in Maldives and 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’.