NDB Bank optimistic on key indicators moving into positive territory

NDB Bank yesterday said it is anticipated that macro-economic challenges may subside in the near term with all key indicators adjusting in to positive territories, and expressed confidence in recovery being expedited. 
Releasing its financial performance yesterday, NDB Bank said the banking sector looks forward to the finalisation of the international sovereign bonds restructuring, which would allow bank’s efficient deployment of capital in pursuing growth targets. 

“NDB remains positive of such recovery trajectory, and will focus on creating shareholder value through consistent and sustainable bottom line performance. 
“The bank will also endeavour towards a judicious equilibrium in its performance covering aspects such as digitalisation, empowering the women’s market and ESG among others,” the entity said in a statement.

For the financial year 2023, NDB demonstrated its characteristic resilience and agility in withstanding external challenges. 
The bank’s concerted efforts in operationalising its strategy, duly adapted in response to evolving macro-economic dynamics resulted in the bank generating sound returns to its shareholders.
NDB’s newly appointed Director/ CEO Kelum Edirisinghe attributed the performance to the commitment, hard work and perseverance of the team and the innate acumen the bank has gathered over four decades of its service to the nation through many socio-economic cycles. 

“We draw deep comfort from a clearly articulated strategy that guides us in the near to mid-term, the strong governance frameworks within which we function and the versatility of our stakeholders well aligned in our mutual growth, prerequisites in navigating through challenging times,” he said.
Edirisinghe noted that the immediate priorities will be on improving asset quality, enhancing NIMs, driving transaction banking and pursuing growth centered around products offering higher risk adjusted returns.
Read ‘NDB Group posts Rs. 11 bn in pre-tax profits’ on page 9 for details on the financial performance.