National Development Bank PLC is a listed commercial bank in Sri Lanka offering a broad suite of integrated financial solutions across retail, SME and corporate customer segments.
NDB shares are down 21.2% over the past year and last closed at Rs 109.50 on Sep 30, 2026.
Rs 109.50
+1.15%
Price history
-21.24%
Monthly seasonality
Monthly total returns by year and calendar month
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
+3.4
+1.5
-10.6
-14.0
+0.4
-0.4
-4.2
+3.5
-1.6
+0.0
+0.0
+0.0
2025
+12.2
-7.3
-6.7
-2.1
+4.3
+9.6
+15.0
+4.3
-1.0
-0.4
+4.2
-4.7
2024
-6.2
-0.8
+16.9
+14.3
+1.7
+2.5
-12.7
-8.8
+21.7
+12.1
-4.5
+34.5
2023
+16.9
+9.6
+10.2
-2.7
-0.2
+19.6
+53.0
-9.7
+0.6
-11.2
+10.2
-4.4
2022
+3.2
-8.9
-19.8
-2.8
-21.1
-4.0
-5.6
+4.1
+20.9
-13.6
-8.1
-5.9
2021
+25.6
-15.3
-2.8
-3.4
+2.5
+2.7
-1.9
-2.8
-0.3
+0.7
-9.1
-1.6
2020
-2.0
-1.5
-29.3
+0.0
+0.0
+7.1
-7.2
+22.0
+2.1
-16.5
+0.9
+4.1
2019
-2.8
+6.7
-9.7
+0.0
-6.5
+0.2
+23.6
-4.6
-6.6
+7.1
+2.9
-7.4
2018
-1.1
+3.7
-0.4
-0.1
+0.0
-8.6
-6.3
-0.1
-9.6
+1.0
+2.8
-0.8
2017
-7.1
+1.4
-8.2
+4.5
+3.8
-1.7
-2.2
-5.6
-4.1
+8.2
-0.7
-0.4
2016
-13.3
-3.2
+2.1
+14.8
-8.8
-4.0
-3.0
+0.3
+1.0
-2.9
-5.1
+1.9
2015
-5.6
+10.2
-4.4
+7.4
+3.0
-4.7
+5.0
-12.4
-7.9
+0.9
-13.6
+1.3
2014
+15.6
-3.2
-0.6
+8.9
-0.2
+5.1
+5.4
+6.9
+12.0
-5.6
-1.3
+4.3
2013
+5.0
+0.1
+13.8
+2.4
+4.7
-8.1
+2.8
-10.2
-4.1
+9.9
-2.7
+4.4
2012
+0.0
+0.0
+0.0
-2.2
-10.8
-6.6
+12.0
+5.6
+26.3
-10.5
-0.3
+3.5
Average
+3.1
-0.5
-3.5
+1.8
-1.9
+0.6
+4.9
-0.5
+3.3
-1.5
-1.8
+2.1
ASPI average
+3.1
-2.7
-4.7
+2.0
+0.2
+0.8
+3.1
+2.2
+3.2
-0.1
+1.0
+3.0
Median
+1.0
-0.3
-3.6
-0.1
+0.2
-0.4
-1.9
-0.1
-0.3
+0.2
-1.0
+0.5
% up
50%
50%
29%
43%
50%
47%
47%
47%
47%
50%
36%
50%
P/E
3.9
P/B
0.55
EPS
Rs 27.83
Div Yield
7.74%
Market Cap
Rs 47.3B
Beta
1.60
ROE
12.9%
Op Margin
47.2% (+6.0pp)
Fundamentals
Line
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
Total income
Rs 49.5B
+2.3%
Rs 48.4B
+2.7%
Rs 47.1B
+6.0%
Rs 44.4B
+34.7%
Rs 33.0B
+25.0%
Rs 26.4B
+6.4%
Rs 24.8B
+10.0%
Rs 22.6B
+35.2%
Operating profit
Rs 22.8B
-11.4%
Rs 25.7B
+135.6%
Rs 10.9B
+308.1%
Rs 2.7B
-71.0%
Rs 9.2B
+0.1%
Rs 9.2B
-7.8%
Rs 10.0B
+6.1%
Rs 9.4B
+31.0%
Net profit
Rs 12.0B
+20.8%
Rs 9.9B
+68.9%
Rs 5.9B
+90.5%
Rs 3.1B
-56.5%
Rs 7.1B
+35.4%
Rs 5.2B
+6.8%
Rs 4.9B
-7.4%
Rs 5.3B
+53.7%
EPS
27.83
+18.1%
23.57
+63.5%
14.42
+82.1%
7.92
-64.7%
22.44
+2.1%
21.99
+7.1%
20.53
-22.0%
26.33
+29.4%
Compared with the same period a year earlier.
Per-share figures are as reported, not adjusted for splits.
National Development Bank PLC is a listed commercial bank in Sri Lanka offering a broad suite of integrated financial solutions across retail, SME and corporate customer segments. Together with its subsidiaries engaged in capital market services, the Bank provides lending, deposit, transactional and advisory services to support customers across their financial life cycles.
The Bank’s activities include development and project finance, commercial banking for individuals and businesses, and a range of capital market services provided through group subsidiaries, with targeted propositions for women and SMEs. Key branded initiatives and platforms referenced in the report include the NEOS digital banking platform, the NDB Araliya proposition and the Sri Lanka Vanithabhimana initiative.
NDB also undertakes merchant banking, venture capital, stock broking, fund management and property development activities as part of its broader group offerings, and it is strengthening its sustainable finance capabilities including green and sustainability‑linked financing to support climate‑resilient and inclusive economic activity across Sri Lanka.
Evidence points bearish because the final forensic review puts the fraud at LKR 13.6 billion, making governance and recovery risk decisive. Core quarterly profit nevertheless rose 30.0%.
National Development Bank (NDB.N0000) said Deloitte's final forensic audit found Rs. 13.64 billion was misappropriated and it has engaged a foreign agency to trace and recover the stolen funds. The bank said no customers lost money, will recognise an additional Rs. 60m in its accounts and is implementing control and governance recommendations while pursuing legal action.
EconomyNext·Sep 29, 2026·Regulatory or legalNegative
NDB Bank said Deloitte's forensic review found the fraud totaled Rs13,639,664,684, Rs60m higher than its June interim report and that the incremental Rs60m will be recognized under applicable accounting standards. The bank said no customer has lost funds, remains well capitalized and is pursuing legal and recovery actions while strengthening governance.
Ada Derana·Sep 29, 2026·Regulatory or legalNegative
National Development Bank PLC said Deloitte's independent forensic review confirmed the fraud's total impact at LKR 13,639,664,684 (LKR 13.64bn), LKR 60m higher than its interim figure; the bank says customer balances are intact and has engaged foreign experts to trace stolen assets.
The Association of Professional Bankers ran a CPD event preparing Sri Lanka's banking sector for its APG mutual evaluation (on-site 26 Oct-6 Nov 2026) that will assess AML/CFT/PF technical compliance and effectiveness. Speakers urged a shift from documentation-led checks to outcome-focused, risk-based controls.
The Sri Lanka Retail Forum 2026 convened over 500 retail leaders at Cinnamon Life, Colombo to discuss retail growth, customer experience, digital commerce, AI, data and technology-led transformation. Keells and BYD were Platinum Sponsors, Singer was a Gold Sponsor and NDB Wealth joined as a category partner.
Colombo bourse edged up as the ASPI rose 0.03% to 21,325.64 on turnover of over Rs.1.2bn; banks led activity while geopolitical tensions and higher global oil prices weighed on sentiment and foreigners were net sellers of Rs.7.2m.
Colombo Stock Exchange closed marginally up, ASPI +0.03% at 21,325.64 on Rs1.28bn turnover; banks led turnover. Top contributors included Ceylinco Insurance, Haycarb, Dipped Products and National Development Bank, while Browns Investments, Carson Cumberbatch, Melstacorp and Hemas were laggards; Hunas announced a strategic partnership with Tokyo-based CCH Inc.
Banks & Finance sector: what is happening
Last 14 days to Sep 30, 2026
With policy held at 8.75% amid 8.0% inflation, and Treasury and secondary bond yields rising during the window, banks face continued pressure to reprice deposits and loans while government-securities portfolios remain sensitive to yield moves. The rupee weakened and foreign investors sold rupee bonds for a second week. From 1 November, TIN verification will be required for bank accounts and credit cards, adding onboarding compliance.