NDB CEO speaks of Best Bank accolade and way forward

NDB CEO Dimantha Seneviratne 

NDB was named the Best Bank in Sri Lanka for 2022 by Euromoney, a much coveted title amongst financial institutions across the globe and recognised as one of the most independent and rigours assessments covering the industry. The bank’s CEO, Dimantha Seneviratne speaking of this achievement, said, “This was the only top global award that NDB was yet to clinch. Hence we are quite pleased at this win. NDB’s ability to demonstrate growth and profitability, clear differentiation amidst competition, product and service offerings, strategy, delivery across multiple business segments, adaptability to changing market conditions and our technological prowess were some critical factors which contributed to this win.” Following are excerpts.

Q: What other awards has the bank bagged recently? 

The other awards we have received would be too numerous to list here, but I would like to highlight a rare feat we have achieved. NDB was recognised as the Best Bank in Sri Lanka by both Euromoney and Global Finance of USA for 2022 and 2021 consecutively. In addition we were also recognised as “The Bank of the Year 2020” by The Banker Magazine in the UK. Securing the endorsement of the top three awarders in the banking industry – the Triple Crown in banking – is a rare feat. At times of turbulence and uncertainty, independent external endorsements serve as a source of confidence on the bank’s stability to stakeholders who partner us in their growth journeys. It also inspires and motivates our team who makes these achievements a possibility, to better themselves and raise the bar even higher. 

Q: Can you elaborate on your positioning as a futuristic bank?

We earnestly believe that the future of banking is in data-driven self-service offerings. The upcoming generation needs choices and values convenience over sentimental loyalty which we have seen in the previous generations. 

Regional banks have moved in this direction while Sri Lanka is lagging behind. Hence, we are working with a sense of urgency to bridge the gap or even surpass it. 

We intend to revolutionise the approach to banking in Sri Lanka, way beyond mobile app based transactions. To this end, we have made substantial investments in upgrading our core banking system with additional investments in digital and data analytics capabilities. To bring convenience to customers, we believe the key is to deploy scalable solutions, where one app can be enhanced as part of an overarching plan to add more functionality on a regular basis rather than having many different apps. 

Our goal is to bring banking convenience across all our customer segments. For instance, our NEOS Biz app brings the convenience of mobile banking to the small and medium enterprises sector while our new cash management solutions will do the same for our larger corporates. The video know-your-customer (vKYC) solution helps to conveniently open an account with NDB wherever you are in the world with your passport or national identity card. 

Our deployment of technology is not limited to customer touch points but also to improve our back office efficiencies which will enable us to pass the benefits back to the customer in the form of competitive, tailored and lifestyle based pricing.

Q: How does NDB Bank deliver financial inclusivity to various groups and communities?

 With NDB’s development-centric banking heritage, increasing financial inclusivity is in our DNA. Banking for women is a big part of our strategy. We have multiple initiatives including workshops, outreach programs and our flagship Vanithabhimani program aimed at increasing female participation in economic activity. 

In addition, the NDB Bank2U service enables hitherto unbanked population to start saving with NDB which increases their economic resilience especially in crisis times like this. Our supply chain financing programme which we are rolling out with the assistance of organisations such as Asian Development Bank (ADB) is another such initiative aimed at improving the access to capital for Micro small and medium enterprises. 

Q: Consistent excellence is a hallmark of a good bank. Where does NDB Bank stand in this regard?

Consistency is crucial to NDB Bank. Over the last five years, we have been consistently growing our balance sheet and posting good results. Consistency is essential, especially for a bank as we depend on perceived stability of stakeholders to raise capital for our future growth plans. Our consistent performance has helped us onboard new shareholders such as Norfund who invested in NDB early last year. 

Consistency in excellence is core to keeping customers happy especially at a time where people value convenience and quality of service. We have consistently reinvented ourselves with our digital solutions aimed at not only adding convenience but also increasing financial inclusivity in Sri Lanka. This consistency is the key to our success and is also underscored by the awards we have been winning, consistently, we would like to thank our customers and stakeholders for the continued confidence placed in us.