NDB Bank crowned ‘Best Corporate Bank’ in Sri Lanka for second consecutive year

Monday, 24 July 2023 02:21 - - {{hitsCtrl.values.hits}}

NDB Bank has emerged as the ‘Best Corporate Bank in Sri Lanka’ for 2023 at the recently concluded Asiamoney Awards program. NDB secured this prestigious award for the second consecutive year in recognition of its stable financial and operational performance during the past year

Dimantha Seneviratne, CEO of NDB, credits his top management team for their astute responses amidst countless economic and political challenges, as well as the Bank’s sound data-driven decision making strategy.

Despite the turbulent business environment, NDB Bank reported 77% growth in gross income, 42% growth in net interest income and a resultant 38% growth in total operating income in 2022. The Bank’s Corporate Banking portfolio remained comparatively stable due to the continued focus on generating operating efficiencies through automation and digitisation.

Furthermore, despite the industry-wide shortages in foreign currency, the Bank’s Corporate Banking Unit was able to draw valuable insights by prioritising its data analytics to identify foreign currency inflow and outflow requirements to better facilitate corporate requirements, thereby enabling NDB to continuously maintain a foreign currency inflow as well as stabilize its foreign currency liquidity position at this crucial juncture for the country’s economy.

NDB Bank was also able to strategically align its corporate interests to better suit the requirements of its export customers. Thereby, together with the value addition from the NDB Transaction Banking Unit, the Bank was able to carefully and systematically meet all its export customer requirements.

Furthermore, NDB’s Corporate Banking offers “Group Relationship Management,” through which corporate customers belonging to a “group of companies” are offered a fully-fledged package of financial solutions across the NDB Group. During the year, the Bank continued to increase penetration of Distributor Finance/Supplier Finance facilities, thereby offering a solution for corporates to enhance business through these channel partners and enhance their liquidity.

Additionally, NDB’s corporate banking customers are offered seamless services from NDB Investment Bank (NDBIB) and other subsidiary companies as appropriate, making NDB the multi-provider for all banking and capital market services.