NDB becomes SL’s ‘Best Domestic Bank’ for 2nd consecutive year at Asiamoney Best Bank Awards 2020

Wednesday, 1 July 2020 00:00 - - {{hitsCtrl.values.hits}}

NDB – for the second consecutive year – was awarded the title of Sri Lanka’s ‘Best Domestic Bank’ by the prestigious Asiamoney Awards.

NDB Chairman Eshana De Silva

NDB Director/Group CEO Dimantha Seneviratne

In its evaluation at the Asiamoney Best Bank Awards 2020, the magazine quoted: “Sri Lanka’s banks have had a tough year [2019]… So it is all the more impressive that a number of contenders for this award kept their businesses growing. Of those, NDB Bank stood out as the best domestic bank in the country.”

As part of the Euromoney group, Asiamoney is considered among the most influential financial magazines and a leading authority on finance, banking, investment, and treasury in the Asia- Pacific region. The coveted Asiamoney awards identify different banks that have excelled across a range of core banking activities over the past 12 months in the Asia-Pacific region. Asiamoney considered the strengths of the entire domestic and international franchise in deciding these awards, across retail, commercial, cash management and payments, foreign exchange, trade finance, capital markets, advisory and wholesale operations.

Asiamoney further stated: “After surviving a rough time in 2019, NDB is well positioned to succeed as Sri Lanka’s economic growth picks up. The onus is on the banks to innovate in a way that meets customers’ needs and NDB has certainly been a leader on the digital front, with a realistic approach to tackling the challenges of implementing new technology.”

In addition to NDB Bank’s achievement, NDB Investment Bank, subsidiary of NDB, was also awarded with the title of ‘Best Corporate and Investment Bank Sri Lanka 2020’ for the fourth consecutive year.

Commenting on the awards, NDB Group Chief Executive Officer Dimantha Seneviratne said, “Winning these awards for the second consecutive year by Asiamoney is a proud moment for us, and a testament to our ability to demonstrate growth, relative outperformance compared to peers and the ability to adapt to changing market conditions and client needs, especially in a turbulent economy. These awards reaffirm our dedication to support our clients and customers for their success. The strengths of NDB are showcased across the entirety of the corporate and investment banking operations.”

The Bank, which is the fourth largest listed commercial 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. From its inception, NDB Bank, along with the NDB Group has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy.