NDB BANK
Q: Could you brief us on the recent award received by NDB from the prestigious Euromoney magazine?
A: NDB was named the Best Bank in Sri Lanka for 2022 by Euromoney. This is a highly coveted title among financial institutions across the globe and is recognised as one of the most independent and rigorous assessments of the sector.
Since it was the only top global award that NDB was yet to clinch, we are pleased with this win. NDB’s ability to demonstrate growth and profitability, clear differentiation amidst competition, product and service offerings, strategy, delivery across multiple business segments, adaptability to changing market conditions and our technological prowess were some critical factors that contributed to the bank being awarded this accolade.
Q: Could you brief us on the recent award received by NDB from the prestigious Euromoney magazine?
A: NDB was named the Best Bank in Sri Lanka for 2022 by Euromoney. This is a highly coveted title among financial institutions across the globe and is recognised as one of the most independent and rigorous assessments of the sector.
Since it was the only top global award that NDB was yet to clinch, we are pleased with this win. NDB’s ability to demonstrate growth and profitability, clear differentiation amidst competition, product and service offerings, strategy, delivery across multiple business segments, adaptability to changing market conditions and our technological prowess were some critical factors that contributed to the bank being awarded this accolade.
Q: What other awards has the bank won in recent times?
A: The other awards we have received are too numerous to list here but I would like to highlight a rare feat that we have achieved. NDB was recognised as the Best Bank in Sri Lanka by both Euromoney and Global Finance in the US for 2021 and 2022.
We were also recognised as The Bank of the Year 2020 by The Banker magazine in the UK. Securing these endorsements from the top three awarders in the banking sector is the triple crown in banking and a rare feat.
In times of turbulence and uncertainty, independent external endorsements serve to inspire confidence in the stability of the bank among stakeholders who partner with us in their growth journeys.
It also motivates team members who make these achievements a possibility, to better themselves and raise the bar even higher.
Q: Can you elaborate on your positioning as a futuristic bank?
A: We earnestly believe that the future of banking is in data driven self-service offerings. The upcoming generation needs choices and values convenience over sentimental loyalty, which we have seen in previous generations.
Regional banks have moved in this direction while Sri Lanka is lagging behind. So we are working with a sense of urgency to bridge the gap or even surpass it.
We intend to revolutionise the approach to banking in Sri Lanka way beyond mobile app-based transactions. To this end, NDB has made substantial investments in upgrading its core banking system with additional investments in digital and data analytics capabilities.
To bring convenience to our customers, we believe the key is to deploy scalable solutions where one app can be enhanced as part of an overarching plan to add more functionality on a regular basis rather than having many different apps.
Our goal is to bring banking convenience across all our customer segments. For instance, our NEOS Biz app brings the convenience of mobile banking to the small and medium enterprises sector while our new cash management solutions will do the same for our larger corporates.
The video Know-your-customer (vKYC) solution helps people to conveniently open an account with NDB wherever they are in the world using their passport or national identity card.
Our deployment of technology is not limited to customer touch points and includes the improvement of back office efficiencies too. This will enable us to pass the benefits back to the client in the form of competitive, tailored and lifestyle-based pricing.
Q: How does NDB deliver financial inclusivity to various groups and communities?
A: With NDB’s development-centric banking heritage, increasing financial inclusivity is in our DNA. Banking for women is a big part of our strategy, and we have multiple initiatives including workshops, outreach programmes and our flagship Vanithabhimana programme, which aims to increase female participation in economic activities.
In addition, the NDB Bank2U service enables the hitherto unbanked population to begin saving with NDB and increase their economic resilience especially in times of crisis.
Our supply chain financing programme that’s being rolled out with the assistance of organisations such as the Asian Development Bank (ADB) is aimed at improving access to capital for micro, small and medium enterprises.
Q: Consistent excellence is a hallmark of a good bank. Where does NDB stand in this regard?
A: Over the past five years, we have been consistently growing our balance sheet and posting good results. Consistency is crucial for the bank particularly because it depends on the perceived stability of stakeholders to raise capital for future growth plans. NDB’s steady performance has helped bring onboard new shareholders such as Norfund, which invested in the bank early last year.
Similarly, consistency in excellence is necessary to keep our customers happy especially at a time where people value convenience and quality of service. We have constantly reinvented ourselves through our digital solutions that are aimed at adding convenience and increasing financial inclusivity in Sri Lanka. Consistency is key to our success and is underscored by the awards that we have been winning regularly.
Telephone 2448448
Email ceo@ndbbank.com
Website www.ndbbank.com
