News & market updates

Bank of Ceylon has been reappointed as the settlement bank for Sri Lanka’s USD Online and UITS systems for a further three-year term from 2024. The renewal reinforces BOC’s role in remittances and USD clearing infrastructure, affecting other domestic banks that use these systems.

National Development Bank PLC's leadership team was recognised at the inaugural Global CEO Awards Night 2024 in Colombo, with seven NDB executives honoured for leadership and resilience. The awards, audited by an external panel, underscore NDB's market standing and its emphasis on digital banking solutions.

NDB Bank (NDB.N0000) is running a Santa doorstep promotion through Dec 31, 2024: parents who deposit Rs.50,000+ into an NDB Shilpa Children’s Savings Account receive a gift delivered by Santa. The account also offers double interest, insurance cover and academic rewards.

Lanka Business TV held an Entrepreneur Business and Investment Summit in Kurunegala; Lanka Tiles MD Mahendra Jayasekara delivered the keynote and NDB Wealth Management CEO Ruwan Perera spoke on investing, with sessions on fraud prevention and transaction digitisation.

NDB Bank won eight awards at the National Sales Awards 2024, including the Gold for Overall National Sales Manager (Kasun Jayawardana). Winners also included Golds in Front-Liner Banking and Sales Supervisor categories, highlighting the strength of NDB's sales team.

NDB Bank held its annual Christmas Carols celebration for staff and families on 13 December 2024 at the Nawaloka Auditorium. Organised by the NDB Staff Recreation Club, the staff choir performed under choral director Soundarie David Rodrigo to foster unity and camaraderie.

Colombo Stock Exchange closed higher — ASPI +0.11% at 14,516.46 and S&P SL20 +0.80% at 4,384.75, with turnover of 6.35 billion. Top contributors included John Keells, Commercial Bank, NDB, Cargills and Lanka IOC; net foreign inflow was Rs 336 million and there was notable activity in banking, consumer and hotel stocks.

NDB Bank (NDB.N0000) became the first Sri Lankan commercial bank to secure ISO 27001:2022, ISO 22301:2019 and ISO 20000:2018 certifications. The trio covers information security, business continuity and IT service management, underscoring the bank’s focus on digital resilience and operational excellence.

National Development Bank PLC was the official banking partner for the Sahasak Nimavum provincial phase, supporting over 1,847 inventive entries and providing financial-management sessions. NDB also promoted its youth-focused ZEE account to participating young inventors.

NDB's Islamic banking arm NDB Shareek won Gold awards for 'Islamic Banking Window/Unit of the Year' and 'Deal of the Year' at the 9th IFFSA Awards, and Fahmi Rahim received Silver for 'Rising Star.'

National Development Bank PLC (NDB) won the "Best Integrated Report – Banking Sector" at the CMA Excellence in Integrated Reporting Awards 2024 for the sixth consecutive year (joint award) and was also named among the "Five Excellent Integrated Annual Reports."

NDB Investment Bank (part of the NDB Group) was named Euromoney's 'Best Investment Bank in Sri Lanka' for the 13th consecutive year. The release notes NDBIB's recent role arranging a USD 14m debt raise for Hela Apparel and advising on IPOs including UB Finance and Cargills Bank.

NDB Investment Bank (part of the NDB Group) was named 'Best Investment Bank in Sri Lanka' by Euromoney for the 13th consecutive year. The release notes NDBIB's 2023 transactions, including arranging $14m debt for Hela Apparel and advising on IPOs for UB Finance and Cargills Bank.

NDB Bank partnered with the WNPS Youth Wing to hold environment-focused 'Fireside Chats' at the SDG HUB during the 59th Colombo Scout Camporee, engaging about 3,000 scouts from over 60 schools. The sessions promoted SDGs, wildlife and forest conservation and reinforced NDB's sustainability and youth engagement efforts.

NDB Bank's Kotahena branch became the first in the bank's history to have all 12 branch staff qualify for the CEO's Club in 2024, achieving Rs. 37 million YTD; the branch's Privilege Relationship Manager recorded ANP of Rs. 20 million.

Colombo Stock Exchange closed up with the ASPI hitting a historic peak, rising 0.35% to 13,559 while the S&P SL20 gained 0.91% to 4,053 on turnover of Rs4.4bn, led by capital goods and banks; market participants noted bullish interest in banking, diversified financial, construction and tourism sectors.

Colombo Stock Exchange closed higher as the ASPI hit an all-time high, up 1.29% to 13,511 and the S&P SL20 rose 1.90% to 4,016 on turnover of Rs5.2bn. Banks and bluechips led gains (Commercial Bank, Sampath, John Keells, DFCC, NDB, Lion Brewery) amid bullish flows and nearing debt restructuring.

NDB Bank's Kotahena branch became the first in NDB history to have all 12 branch staff qualify for the CEO’s Club in 2024, achieving Rs.37 million YTD; the branch's Privilege Relationship Manager recorded an ANP of Rs.20 million.

National Development Bank's Islamic banking arm NDB Shareek marks its 10th anniversary, winning six SLIBFI Awards 2024 and multiple IFFSA 2024 awards including Gold for Deal of the Year and Islamic Banking Window/Unit of the Year. NDB Shareek serves customers via 113 branches and expanded digital channels.

NDB's Kandy City Centre branch was honoured as the best performer in the central region and the second-highest performer in the NDB network at the CEO's Club celebration; the bank highlighted growth in its bancassurance partnership with AIA and a record 210 CEO's Club members in 2023.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

NDB's Islamic banking arm, NDB Shareek, marks 10 years of Shariah-compliant operations and won six SLIBFI awards plus multiple IFFSA awards in 2024. It offers products including Mudarabah, Murabaha, Wakala, Diminishing Musharakah and Ijarah and serves customers via 113 branches and digital channels.

NDB’s Kandy City Centre branch was honoured as Best Performer in the Central Region and the second-highest performer across the NDB network at a CEO’s Club celebration. The event noted a record 210 CEO’s Club members in 2023 and highlighted growing bancassurance integration with AIA and the bank’s digital focus.

Colombo bourse rose with the ASPI up 0.9% (115 pts) and turnover jumping to Rs.5.1bn, boosted by crossings and heavy banking-sector activity. Top contributors included Sampath Bank, Commercial Bank, John Keells, Hemas and NDB, with a net foreign outflow of Rs.246.3m.

The Supreme Court dismissed three fundamental rights applications challenging LTL Holdings' IPO, clearing the way for the planned Rs.16–20 billion offering (22.3% stake, Rs.14.50/share). Proceeds will fund a Rs.13.5bn 350 MW LNG combined-cycle plant and Rs.6bn for a 50% stake in a 100 MW solar project; NDB Investment Bank Ltd are joint managers.

NDB Bank launches its ‘Relaxmas’ credit card campaign offering up to 60% discounts across 400+ partnered merchants and 0% installment plans of up to 36 months on NDB credit cards.

Colombo Stock Exchange closed higher, ASPI +0.66% to 13,049 and S&P SL20 +0.85% to 3,876, led by banking stocks with Rs2.2bn of turnover. Top contributors included Sampath, HNB, Commercial Bank, DFCC and Dipped Products; NDB's Rs5bn debenture was oversubscribed and Softlogic Life declared a Rs4.5 cash dividend; net foreign inflow was Rs95mn.