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 2019. The results showed exceptional profitability of LKR 5.7 Bn 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 LKR 473 Bn.
Within the Balance Sheet, loans and receivables as well as customer deposits grew by 27%, to LKR 353 Bn and LKR 348 Bn 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 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.