NDB Bank joins exclusive ranks of Business Today Top 20

Thursday, 20 January 2011 00:01 - - {{hitsCtrl.values.hits}}

NDB Bank was positioned in the prestigious Business Today Top Twenty Awards ranking, which recognises the cream of Sri Lankan corporates for their exceptional performance throughout the past year.

These highly-acclaimed corporate awards are carried out strictly based on published financial information and other indicators of companies listed on the Colombo Stock Exchange for the year 2009/2010.

Contributing factors towards NDB Bank’s ranking was based on the bank’s strong fundamentals, competitive strengths and diversified businesses within the Group. A growth of 18% in total assets during the financial year and a non-performing loan ratio of 2.58% in contrast to an industry ratio of 8% were taken into consideration along with the group profit attributable to shareholders increasing 30%, in comparison to the previous year.

NDB Bank continues to invest in technology, distribution and brand building while managing the task of balancing short term profits against the cost of investment for longer term gains. Additionally, the bank’s liquidity positions were further strengthened with a 57% increase in the deposit base.

Speaking at the Top 20 Awards Presentation held recently, Chief Executive Officer of NDB Bank, Russell De Mel said: “Today NDB Group positions itself as a unique knowledge hub with its presence in fully-fledged banking, offering a full array of banking products, capital markets encompassing investment banking, wealth management and stock brokering as well as insurance. Backed by a well trained, highly skilled team of professionals the NDB Group is well positioned to take on the challenges arising from the country’s programs for economic reconstruction and development.”

He also went on to mention that while NDB Bank was indeed proud and honoured with this felicitation, it was shared with the valued employees of the bank and its loyal customers, without whose dedication, commitment and patronage this achievement would not have been possible.