Friday Sep 20, 2024
Friday Sep 20, 2024
Wednesday, 18 September 2019 00:00 - - {{hitsCtrl.values.hits}}
The National Development Bank Plc yesterday symbolically rang the market opening bell at the Colombo Stock Exchange (CSE) to mark its 40th anniversary, as part of a series of events organised by the company to celebrate this significant milestone.
CSE market opening ceremonies are organised as a platform for listed companies to celebrate corporate milestones and as a call to action for causes and developments that are significant to our business community, the economy and society at large.
Outlining the benefits of listing the bank on the CSE, NDB Director and Group CEO Dimantha Seneviratne said the bank was proud of its contribution to the capital market development over the years.
“The NDB share has been listed in the CSE since 1993, now for more than 25 years. It is also one of the few listed bank shares included in the more liquid market index S&P SL 20 since its introduction in 2012 to date. We are proud of the many contributions NDB has made as a listed entity, to the capital market such as securing long-term local and foreign capital to the country,” he added. Considering some of the largest listed corporates in the CSE today across multiple sectors, he said NDB had been with them as an initial financier and banking partner, propelling their growth and helping them reach up to listed entities. He also said that NDB had been an initial capital financier for two listed commercial banks as well.
“We are glad to note that, even as of date, more than 60% of the 50th highest market cap entities of the CSE are banking with NDB,” Seneviratne said.
He said NDB Group entities, including NDB Capital Holdings, NDB Investment Bank and NDB Securities, had been in the forefront of developing the debt capital market. “The entire NDB group is providing opportunities to shape up the economy by helping the capital market to grow and be financially stable,” Seneviratne said.
He also noted that NDB as a bank with three decades of excellence and experience in financially empowering Sri Lanka continued to take longer strides to reach out and strengthen Sri Lankan women.
CSE Chief Executive Officer Rajeeva Bandaranaike commended the progress made by the bank since its inception.
He highlighted that the bank had added to the value proposition of the stock market since listing in 1993 as one of the first State-Owned Enterprises (SOEs) to list on the exchange.
“The investment banking arm of the NDB has also assisted a number of companies to list on the exchange, which has played an important role in growing the capital market over the years. We wish the bank success in its future endeavours,” he added.
The bank marked four decades of unparalleled commitment and innovation, growing from roots of development within the bank to developing individuals, families, businesses and the society. Established in 1979 as the National Development Bank of Sri Lanka, NDB’s inaugurating purpose was of promoting industrial, agricultural, commercial and other developments of the economy of Sri Lanka. Since then, the bank has been a catalyst in the development of the nation, strengthening and empowering a host of entrepreneurships, individuals and corporates who have prospered and flourished with the bank’s relationship.
NDB operates around the island with a significant digital footprint and a network of over 150 ATM/CRMs and Bank2U (Branchless Banking) offerings made available at over 70 locations where bank representatives will meet the customer for the customer’s convenience and ease. The bank has fully embraced the digital future with 70% of its transactions now occurring via digital channels.
The bank has empowered its customers by offering a host of digital tools such as mobile and online banking in addition to its first Phygital Branch: NEOS which made NDB the first bank in Sri Lanka to introduce a fully paperless banking branch.
NDB Bank, which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification is a premier retail Bank with over 111 branches across the island, serving millions of Sri Lankans through a host of financial services. From its inception, the NDB Group, which includes NDB Bank, NDB Capital, NDB Investment Banking, NDB Wealth, and NDB Securities, has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Customers across all group companies have benefited from the product and service offerings of the NDB Group. (CdeS)
