National Development Bank PLC (NDB) was adjudged ‘Domestic Retail Bank of the Year - Sri Lanka’ and ‘SME Bank of the Year - Sri Lanka’ for the third consecutive year at the recently concluded Asian Banking and Finance (ABF) Retail Banking Awards 2015.
In addition, the bank succeeded in collecting the awards for ‘Domestic Project Finance Bank of the Year - Sri Lanka’ and the ‘Domestic Cash Management Bank of the Year -Sri Lanka’ at this year’s ABF Wholesale Banking Awards ceremony held in Singapore.
NDB has been selected for these awards by ABF Awards’ esteemed panel of judges representing PricewaterhouseCoopers, KPMG, Deloitte Consulting and Ernst and Young Advisory LLP. Running in its 10th consecutive year, the ABF Awards have established integrity and recognition in the region over time. This year’s awards recognized NDB along with numerous international banks for their performance, based on criteria such as innovation, effectiveness and dynamism.
Commenting on the receipt of the awards, NDB Chief Executive Officer Rajendra Theagarajah said, “It is a pleasure and an honour to accept these international awards from Asian Banking and Finance Magazine. These awards emphasize NDB’s significant feats in the multiple banking services domains it caters to, including retail/SME banking as well as project financing and correspondent banking.
Having successfully transformed from a development bank to a full-fledged commercial banking conglomerate, NDB is now a strong financial powerhouse in the commercial banking sphere of Sri Lanka. Today, we present an array of customised commercial banking solutions geared to fulfil personal, business, project and infrastructure financial needs of a growing client base within the country and the region.
This extensive product range, coupled with an expert team able to impart apt financial advice and the latest technology that enables efficient delivery, have given us a significant competitive edge in the market. These awards further ascertain such versatile performance of NDB. I wish to take this opportunity to thank the NDB team for rallying around for successful execution of the bank’s aggressive strategy; while inviting our clients to reap benefits from NDB’s next phase of growth,” said Theagarajah.
NDB has made great strides in retail banking by gaining market share in terms of consumer deposits, loans and fee-based products, while its islandwide network has now reached 89 branches. The bank’s competitive edge in this sector has emerged from its commitment towards continuous innovation and customised value addition.
With its roots firmly embedded in development banking, NDB also places great emphasis in supporting and empowering the SMEs that form the backbone of the country’s economy. Having partnered the inception and growth of many small businesses in various industries, NDB, not only empowers them through financial services but also plays an advisory role, equipping entrepreneurs with the much-needed business acumen. Further, inspired by the view that national development is geared through financially empowered individuals, the bank continuously enhances its customised product offerings to be able to meet the evolving financial needs of the diverse segments it serves.