The National Development Bank PLC (commonly referred to as NDB Bank) is a Sri Lankan banking and financial services institution, headquartered in Colombo, Sri Lanka. Having begun operations as a state-owned development finance institution 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.[2]
Awards
The bank won the 2021 Best Retail Bank Sri Lanka award.[3] NDB Bank has been recognised as the “Most Awarded Corporate 2021” as per 'Most Awarded' ranking by the LMD magazine.
References
- ^ "Annual Report 2021" (PDF). cse.lk. National Development Bank PLC. Retrieved 19 February 2023.
- ^ "National Development Bank PLC". Euromoney Institutional Investor Company. Retrieved 8 June 2017.
- ^ "Global Business Review Magazine: Awards 2021". Global Business Review Magazine. Retrieved 10 June 2021.
External links
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| National | |
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