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Institution Detail

National Development Bank (NDB) PLC

Sri Lanka

Ms Suvendrini Muthukumarana

Vice President, Finance

Summary

National Development Bank PLC is Sri Lanka’s fourth largest listed banking entity, serving the nation and its people since 1979. Inaugurated as a premier Development Financing Institution, the Bank has evolved itself to a fully-fledged commercial banking entity since 2005, whilst deeply preserving its expertise in development focused financing. Today, it caters to a vast customer base both in Sri Lanka and overseas, through comprehensive universal banking offerings, powered by new-age digitized solutions. The Bank is the parent company of the NDB Group, comprising a host of subsidiary entities engaged in capital market services, which makes NDB a unique and dynamic financial services group in the country.

NDB possesses unmatched competence in SME financing and project & infrastructure financing amongst others. Support to SMEs is often augmented by advisory services through collaborations with state and private sector experts. NDB Jayagamu Sri Lanka, proposition dedicated to SMEs, inventors and exporters is the best example. NDB is also a frequent lender to large-scale development projects in the country, and a pioneer lender in renewable energy generation projects, in Sri Lanka and abroad. NDB is also committed to empowering the women’s market segment with a bid to enhance female participation in the local economy. NDB is the only EDGE certified corporate in Sri Lanka which pronounces its commitment to gender equality at the work place. NDB functions within a strong corporate governance framework, including environmental and social governance as a responsible financier in the country.

NDB’s excellence is often recognized by seminal global awards programs in the banking and financial services sector. The Bank is the reigning winner of The Best Bank in Sri Lanka 2021 by Global Finance USA, The Bank of the Year Sri Lanka 2020 by The Banker UK, Best Digital Bank Sri Lanka 2021 by AsiaMoney and Best Digital Bank Sri Lanka 2020 by Global Finance USA.

Description

National Development Bank PLC is Sri Lanka’s fourth largest listed banking entity, serving the nation and its people since 1979. Inaugurated as a premier Development Financing Institution, the Bank has evolved itself to a fully-fledged commercial banking entity since 2005, whilst deeply preserving its expertise in development focused financing. Today, it caters to a vast customer base both in Sri Lanka and overseas, through comprehensive universal banking offerings, powered by new-age digitized solutions. The Bank is the parent company of the NDB Group, comprising a host of subsidiary entities engaged in capital market services, which makes NDB a unique and dynamic financial services group in the country.

NDB possesses unmatched competence in SME financing and project & infrastructure financing amongst others. Support to SMEs is often augmented by advisory services through collaborations with state and private sector experts. NDB Jayagamu Sri Lanka, proposition dedicated to SMEs, inventors and exporters is the best example. NDB is also a frequent lender to large-scale development projects in the country, and a pioneer lender in renewable energy generation projects, in Sri Lanka and abroad. NDB is also committed to empowering the women’s market segment with a bid to enhance female participation in the local economy.

The Bank functions with a network of 113 branches spread across the island, including two NDB NEOS phygital branches and over 150 ATM/ CRM units. The Bank’s services are virtually accessible from any corner of the world though the NDB NEOS digital platform, which comprises a convenience-defining mobile banking app, accessible by both NDB and non-NDB customers and online banking facility. The Bank also provides door-step services through its digital platform “Bank2U”.

NDB is the only EDGE© (Economic Dividends for Gender Equality) certified corporate in Sri Lanka which pronounces its commitment to gender equality at the work place. NDB functions within a strong corporate governance framework, including environmental and social governance as a responsible financier in the country. The Bank is also deeply committed to environmentally and socially worthy causes through a host of its corporate sustainability initiatives. Grow NDB reforestation project in Himbiliyakada Matale, 40,000 mangroves planting in Puttlam and Mannar and empowerment of women through initiatives such as Sri Lanka Vanithabhimana are some examples.

Team NDB comprises over 3,000 energetic and dedicated NDBer, with a diverse gender representation (39% in overall workforce and 33% in senior management), with a strong commitment to excellence in customer service. The Bank functions with a national credit rating of A+/ Stable Outlook from Fitch Ratings Lanka Limited, affirming its stability and strength. The Bank has booked in some of the highest growth rates over the past four years, with significant strides made in both financial and non-financial aspects, to become one of the most reputed and respected banking entities in the country.

NDB’s excellence is often recognized by seminal global awards programs in the banking and financial services sector. The Bank is the reigning winner of The Best Bank in Sri Lanka 2021 by Global Finance USA, The Bank of the Year Sri Lanka 2020 by The Banker UK, Best Digital Bank Sri Lanka 2021 by AsiaMoney and Best Digital Bank Sri Lanka 2020 by Global Finance USA.

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