NDB Bank among Lanka's Top 10 companies

NDB Bank was presented an award for being among the top 10 Sri Lankan Companies in Sri Lanka, selected by the leading business magazine Business Today.

President Mahinda Rajapaksa presented the award to the bank's CEO Eran Wickramaratne at a function at Temple Trees.

NDB Bank, a dynamic entity within the NDB Group offers a broad range of services and products in the fields of corporate and retail financing.

In 2001, NDB Bank entered the commercial banking arena.

The bank was recognised among the top ten companies resulting from an 84% growth in profits of the NDB Group. NDB Bank has 40 branches supporting various business areas, Corporate banking, Project Financing, SME lending, Retail Banking, Investment Banking and Insurance.

NDB Bank plays a vital, unique part in the nation's finances at home and abroad and is widely regarded as an integral element in the landscape of Sri Lankan business and finance.

NDB Bank recently took another step towards its plans for local and regional growth through the purchase of shares owned by Bank of Ceylon in the Capital Development and Investment Company Plc.

Fitch Ratings Lanka also reaffirmed the bank's National long-term rating of "AA (lka)" reflecting the bank's "strong financial profile in terms of its high capital base, good profitability and asset quality.

NDB Bank is one of the strongest capitalised local bank's in Sri Lanka with the highest capital adequacy of 18.8%.

The bank's efficiency is reflected positively by its return on assets ratio that stands at 1.4% (profit after tax) compared to the industry ratio of 1.2%. NDB Bank's cost income ratio is 45.7%, which is below the industry average.

With a quality portfolio and an efficient risk management process NDB Bank records a gross Non-Performing Loans ratio of 2.6%, the lowest in the industry among local banks.

In addition, other companies within the NDB Group offer wide ranging products and services including Insurance from Eagle Insurance Company, stock brokering from NDBS stockbroker and Investment Banking from NDB Investment Bank, among others, which when blended in with the services and products of NDB Bank, provide a fully integrated full-service financial institution that has the capacity to cater to a multitude of needs across a wide customer base.