NDB opens trading for September at CSE

National Development Bank PLC (NDB) rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) for September.

Director/Chief Executive Officer of NDB Rajendra Theagarajah said, "NDB is a classic example of how a privatization process has evolved with the participation of the capital market. The Bank itself was formed by an act of parliament in 1979, but was actually one of the very first State Owned Enterprises to be listed here as early as 1993."

"Today, because of that participation in the CSE, the Bank has a market capitalization of over Rs. 27 billion. We have around 8,000 shareholders who are given the opportunity to participate in the fruits of the performance of the Bank and in its value creation," he said.

Theagarajah said the role of the capital market in any economy driven by market-based principals is inexplicable and relevant and went on to commend the CSE for fostering the development of the financial sector.

Chairman of NDB, Ananda Atukorala, Group CFO, Faizan Ozman, the senior management of the Bank, CSE Chairman Vajira Kulatilaka, Director, Moksevi Prelis, Chief Operating Officer, Renuke Wijayawardhane and senior managers were also present.