National Development Bank
Asia
Region
120.6
Commitment (MNOK)
Active
Status
National Development Bank PLC (“NDB”) was founded in 1979 and it is the 4th largest private commercial bank in Sri Lanka. Listed on the Colombo Stock Exchange, NDB is the only financial services group that offers a full suite of financial products and it has a local Fitch rating of A+(lka) with a stable outlook. The bank currently has 113 branches in 22 districts and employs roughly 2,900 employees, serving 980,000 retail and SMEs and 2,900 corporate customers throughout the country. In 2021, Norfund has acquired 9.99% of total shares and became the shareholder of NDB.
Key information
- Sector:
- Financial Inclusion
- Commitment (MNOK):
- 120.6
- Year:
- 2021
- Region:
- Asia
- Country:
- Sri Lanka
- Domicile:
- Sri Lanka
- Instrument:
- Equity
- Status:
- Active
- Mandate:
- Development
Additionality for National Development Bank
This investment is particularly additional on the following ambitions:
- Investing in the poorest countries
- Investing in the most capital constrained markets
- Investing in the riskiest markets
- Investing in the most difficult business environments
- Investing in high risk instruments
- Mobilising private investors
- Improving social and environmental standards
- Supporting enterprise improvements
- Taking an active role in investments
