For an institution experiencing “unprecedented and unchartered times,” in the words of CEO Dimantha Seneviratne, NDB Bank emerged from 2022 relatively unscathed.
And when Seneviratne says National Development Bank, as it is formally known, “generated sound operational results,” it is something of an understatement. NDB reported 77% growth in gross income and 38% growth in total operating income in 2022, year on year. Net interest income, the top contributor in NDB’s operating income, grew 42% over the year.
Seneviratne credits his top management team for its agile responses to the economic and political chaos of 2022. Understandably, the bank’s big-picture Voyage 2025 strategy underwent prompt and essential tactical changes as the external environment deteriorated. Seneviratne’s team quickly set up a strategic damage-control committee.
NDB employed data analytics to identify foreign currency inflow and outflow requirements to match corporate transactions as best as possible. These transactions were prioritized in terms of their importance to bank customers and national economic stability. On those occasions when international banks halted funding to multinational companies, NDB stepped in to keep capital flowing and ensured liquidity in the local currency.
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