Business News from Sri Lanka: NDB Bank is celebrating its 40th anniversary, marking four centuries of unparalleled engagement and innovation, from the origins of the Bank’s growth to the growth of people, families, companies, and society.
Established in 1979 as Sri Lanka’s National Development Bank, the inaugural aim of the NDB was to promote the Sri Lankan economy’s industrial, agricultural, commercial and other developments. The Bank has since been a catalyst in the nation’s growth, enhancing and empowering a host of entrepreneurship, people and corporations that have thrived and flourished with the Bank’s partnership.
NDB made significant progress in the banking and finance sector in Sri Lanka during its trip. Originally a Development Financing Institution (DFI), the Bank has challenged, flexed, and developed into a full-blown commercial bank today, keeping up with the emerging industry and competitive positions.
The Bank purchased ABN Amro NV Colombo Branch’s activities in 2001, which was a Sri Lankan commercial banking entity. In 2005, when NDB completely merged with the commercial banking organization, it achieved commercial banking status. The Bank has extended its client reach, product portfolio and service offerings to a wider spectrum since this transition and has become one of the country’s most known banking organizations.
The Bank has four decades of experience serving our country with leading banking and economic solutions. Naturally, the transition into a commercial bank has skewed its existence and commitment to retail and SME banking projects. NDB also continues to offer powerful project financing, perfected over the centuries with exposures in various sections such as growth of infrastructure and generation of power and energy.
May retail banking, SME funding, business or project loans also be common goods provided by other rivals, what distinguished NDB’s offering from them is the “evolutionary orientation” integrated in NDB’s offering. This has led in a distinctive “development-oriented business banking” proposal for NDB, a merger of its past and present that guarantees continuous banking alternatives for our clients. The product offerings of NDB also apply to equity and investment banking goods supplied by the subsidiary companies of the Bank. NDB’s presence is also created in Bangladesh through NDB Capital Limited, Bangladesh, its overseas investment banking arm.
In addition, NDB has rapidly increased its presence to 111 branches within the short span of 10 plus years since converting into a commercial bank, with approximately 50 percent of the additions taking place over the last five years. The presence of the NDB is seen in the county’s reviving, upcoming and poor financial locations. NDB connects with and empowers people’s life to flourish while energizing the country as a whole.
Four decades ago, NDB works around the island with a substantial digital footprint and a network of more than 150 ATM / CRMs and Bank2U (Branchless Banking) offers made accessible at more than 70 places where bank officials meet with clients for comfort and comfort.
With 70% of its operations now taking place via digital channels, the Bank has completely adopted the digital future. Meanwhile, in relation to the Bank’s first Phygital Branch, the Bank has empowered its clients by providing a host of digital instruments such as mobile and online banking: NEOS that created NDB Sri Lanka’s first bank to introduce a fully paperless banking branch.
