Business News Sri Lanka: NDB for the 2nd consecutive year – was awarded the title of Sri Lanka’s “Best Domestic Bank” by the prestigious Asiamoney Awards.
In its evaluation at the Asiamoney Best Bank Awards 2020, the magazine quoted “Sri Lanka’s banks have had the tough year 2019. So it is all the more impressive that a number of contenders for this award kept their businesses growing. Of those, NDB Bank stood out as the best domestic bank in the country.”
As part of the Euromoney group, Asiamoney is considered among the most influential financial magazines and a leading authority on finance, banking, investment, and treasury in the Asia- Pacific region. The coveted Asiamoney awards identify different banks that have excelled across a range of core banking activities over the past 12 months in the Asia-Pacific region.
Asiamoney further stated “After surviving a rough time in 2019, NDB is well positioned to succeed as Sri Lanka’s economic growth picks up. The onus is on the banks to innovate in a way that meets customers’ needs and NDB has certainly been a leader on the digital front, with a realistic approach to tackling the challenges of implementing new technology.”
In addition to NDB Bank’s achievement, NDB Investment Bank, subsidiary of NDB, was also awarded with the title of “Best Corporate and Investment Bank Sri Lanka 2020”for the fourth consecutive year.
The strengths of NDB are showcased across the entirety of the corporate and investment banking operations.”
The Bank, which is the 4th largest listed commercial 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.