NDB felicitated with Gold Trade Award by Commerzbank, Germany

AVP – Operations, Trade Finance, Payments and Settlements Rivindu Nanayakkara receiving the award from Senior Relationship Manager Indian Subcontinent and ASEAN Christian von Zastrow

National Development Bank PLC was recently awarded the ‘Gold Trade Award’ for 2016/2017 by Commerzbank Germany in recognition of the excellent partnership of trade finance business the bank maintains with Commerzbank in terms of high level of professionalism and continuously excellent work. 

Commerzbank is a leading international commercial bank. For private and small business customers as well as corporate clients, the bank offers a comprehensive portfolio of financial services. It has one of the densest branch networks among German private banks and is leading in financing for corporate clients in Germany. With its subsidiaries comdirect and Poland’s mBank it owns two of the world’s most innovative online banks. It serves its clients in all markets worldwide.

NDB released its financial results for the financial year 2018, to the Colombo Stock Exchange on 11 February. The results showed exceptional profitability of Rs. 5.7 billion in post-tax profit, which was a growth of 30% over the prior year. Business recorded impressive growth with 23% in total assets, taking the assets base to Rs. 473 billion. 

Within the Balance Sheet, loans and receivables as well as customer deposits grew by 27%, to Rs. 353 billion and Rs. 348 billion respectively. These growth rates were well ahead of the industry growth rates. Enhanced performance was demonstrated across a number of KPIs such as net interest margin, cost to income ratio, return on equity, return on assets and loans to deposits ratio.

NDB Bank which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification, the leading and only global certification for gender equality at work place, is the parent company of the NDB Group, one of the fastest growing financial services conglomerates in Sri Lanka, with the strategic mission to be the dominant leader in the financial services and banking sector. 

From its inception, the group which includes NDB Bank, NDB Investment Banking, NDB Wealth, NDB Securities, and NDB Capital has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Their customers across all group companies have benefited from the product and service offerings of the NDB group.