The National Development Bank PLC (commonly referred to as NDB Bank) is a Sri Lankan banking and financial services institution, headquartered in
Colombo
Colombo, ( ; , ; , ), is the executive and judicial capital and largest city of Sri Lanka by population. The Colombo metropolitan area is estimated to have a population of 5.6 million, and 752,993 within the municipal limits. It is the ...
,
Sri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, also known historically as Ceylon, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, separated from the Indian subcontinent, ...
. Having begun operations as a state-owned
development finance institution
Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis.
DFIs are often established and owned by governments or ...
in 1979. In January 1979, the predecessor of National Development Bank PLC (“NDB” or “Bank”) was set up by the National Development Bank of Sri Lanka Act No 2 of 1979 as “National Development Bank of Sri Lanka”, as a wholly state-owned institution. Following a change of ownership structure in 1993, NDB was privatized and listed on the Colombo Stock Exchange.
As a part of its long-term plans in 2001, NDB incorporated a commercial bank under the Companies Act No. 2 of 1982 under the name “NDB Bank Limited” (“NBL”) to take over the business and operations of ABN Amro NV Colombo Branch ("ABN Amro"). On 29 July 2005, NDB acquired the business and operations of NBL (NDB Bank Limited) and converted from a Licensed Specialed Bank to a Licensed Commercial Bank.
Awards
The bank won the 2021 Best Retail Bank Sri Lanka award.
NDB Bank has been recognised as the “Most Awarded Corporate 2021” as per 'Most Awarded' ranking by the
''LMD'' magazine.
See also
*
List of national development banks
A national development bank is a development bank created by a country's government that provides financing for the purposes of economic development of the country.
Africa
* Botswana: National Development Bank of Botswana (NDB Botswana)
* Ethiopia ...
References
External links
*
Banks of Sri Lanka
Companies listed on the Colombo Stock Exchange
Companies in the S&P Sri Lanka 20 Index
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