NDB among Business Today Top 10 for the second consecutive year

NDB Bank was ranked ninth for the second consecutive year in Business Today’s Top 30 Corporates in Sri Lanka in its latest evaluation. The bank was honoured with this recognition of its successful performance during the 2019/20 financial year.

Leaping from 27th in 2017 to 18th in 2018 and to 9th in 2019, NDB has retained its position among the Top 10 in 2020 as well, a challenging year, due to its stable performance, steady organic growth, competitive strengths, innovative banking solutions and sustainability initiatives.

Business Today Top 30 2019-2020 indicates the manner in which the top listed corporates have performed even through challenging times. 

“The financial year 2019/20 can be considered as one of the most challenging periods for corporate Sri Lanka. The main factors that impacted the performance of the economy were political instability and insecurity that hindered growth. The country and corporate sector have weathered many storms in the past; therefore, in this uncertain environment corporate Sri Lanka forged ahead,” the Magazine wrote. 

Commenting on this feat, NDB Group CEO Dimantha Seneviratne said: “NDB has demonstrated resilient growth amidst one of the most challenging times we have faced in the recent history. Our financial performance in 2019 and up to Q3 2020, particularly the growth rates, have been exceptional and we can all be proud of the distinct mark NDB is making in the industry, alongside much larger and mature peers”

As we move forward to make NDB the Digital Bank of Choice, the digitisation of our customer touch points, such as our NEOS App, Online Banking and ‘phygital’ branches has made rapid progress. The credit of this esteemed achievement should go to my leadership team for leading the transformation of the bank and our staff, for their unstinted loyalty and hard work, Chairman and the Board of Directors for their guidance, wisdom and strategic direction”.

The ranking, which was announced in November 2020 comes in the light of NDB’s Group CEO Dimantha Seneviratne winning the “Best Banking CEO of the Year 2020 in Sri Lanka” awarded by the International Business Magazine, and NDB being recognised as the “Best Domestic Bank in Sri Lanka for 2020” by Asiamoney Magazine, as well as being named the “Best Consumer Digital Bank Sri Lanka 2020” under the Global Finance World’s Best Digital Bank Awards 2020 program for the second consecutive year, establishing NDB as the Digital Bank of Choice in Sri Lanka. Meanwhile, NDB also marked a significant milestone in Sri Lanka’s banking history by implementing Robotic Process Automation (RPA), streamlining manual work with specified internal processes, which helps in reducing human errors and recording the best cost-income ratio in the industry, whilst allowing the bank’s employees’ to focus on more value added work.

The Business Today Top 30, for 2019–2020 is an independent ranking of the country’s listed entities based on a comprehensive evaluation of an entity’s financial and non-financial performance conducted with the assistance of KPMG Sri Lanka. NDB Bank, which is the fourth-largest listed bank in Sri Lanka, is one of the fastest growing banks, having had a cumulative average growth rate (CAGR) in advances by 21% and in deposits by 25% in the last four years. The only financial service conglomerate in Sri Lanka, NDB Group is uniquely positioned towards assisting the growth and development of the Sri Lankan capital market to provide its customers seamless access to the product and service offerings of all its group companies