Sept 18, Colombo: Sri Lanka's National Development Bank PLC, participated at a market opening ceremony at the Colombo Stock Exchange yesterday and rang the market opening bell as part of a series of events organized by the company to celebrate its 40th Anniversary.
CSE Market Opening Ceremonies are organized 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, economy and society at large.
Addressing the audience during the ceremony, Director/Group CEO of NDB Dimantha Seneviratne said 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 that is 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 the 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.
"When you consider some of the largest listed corporates in the CSE today across multiple sectors, NDB has been with them as initial financier/banking partner, propelling their growth and helping them reach up to listed entities. In fact NDB has 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," he said.
Meanwhile, CSE CEO Rajeeva Bandaranaike speaking at the event congratulated NDB for celebrating its 40th Anniversary and commended the progress made by the Bank since its inception. He noted that the Bank has added to the value proposition of the stock market since listing in 1993 as one of the first state-owned enterprises 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 endeavors." Bandaranaike 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 the Bank's first Phygital Branch: NEOS which made NDB the first Bank in Sri Lanka to introduce a fully paperless banking branch.