News & market updates

National Development Bank PLC donated Rs. 50 million to the “Rebuilding Sri Lanka” Fund to support Cyclone Ditwah recovery; the cheque was handed over by NDB Deputy CEO K. V. Vinoj to the Secretary to the President.

Colombo Stock Exchange closed Friday with the ASPI up 0.50% (109.79 pts) to 22,068.84, re-entering the 22,000 mark. Turnover was over Rs.2.7bn, foreign investors were net buyers (Rs.18.9m), with banking counters and names like DOCK and RICH among top contributors.

The Central Bank fined seven firms a combined Rs.9.5m for AML/CFT non-compliance, including Rs.2m on LOLC Finance, Rs.1m on Pan Asia Bank and Rs.1m on National Development Bank for failures in reporting and sanctions screening.

Sri Lanka's Financial Intelligence Unit collected Rs9.5mn in administrative penalties from reporting institutions, including LOLC Finance, National Development Bank and Pan Asia Banking, for AML/CFT non-compliance for July–September 2025. The penalties were credited to the Consolidated Fund.

Daraz Sri Lanka will run a Jingle Sale from Dec 19–31 offering free delivery, up to 85% off and Rs. 80 million in vouchers. Customers can unlock extra savings (up to 15%) with select banks including Commercial Bank, Sampath, NDB, Nations Trust and via LOLC's KOKO BNPL (up to 12%).

NDB Wealth Management hosted an inaugural Family Office Forum on 1 December, bringing international speakers to discuss family office structuring, succession planning, ESG and attracting high‑net‑worth individuals to Sri Lanka.

National Development Bank (NDB) received an expected 'BBB+(EXP)(lka)' rating from Fitch for its proposed LKR16 billion five-year green, social and sustainable subordinated bonds. Proceeds are intended to strengthen Tier-2 capital and support loan-book expansion; bonds will be listed on the CSE and include a non-viability conversion clause.

Colombo stock market closed lower as the ASPI fell 0.64% to 22,149.09, with the exchange losing Rs.70 billion on the week (ASPI down 1.59% w/w); turnover was Rs.3.45 billion and foreign investors were net sellers.

NDB Bank's leasing arm (NDB Leasing) held a two-day Auto Carnival at Nawam Mawatha showcasing electric and commercial vehicles with partners to promote leasing solutions and engage potential customers.

NDB Wealth Management hosted the inaugural Family Office Forum in Colombo on 1 December 2025, bringing international speakers to discuss family office structuring and succession planning. Speakers also highlighted ESG, cross‑jurisdiction best practices and tax incentives to attract family offices to Sri Lanka.

People’s Insurance PLC has appointed Chandana Guniyangoda as its new Independent Chairman. Guniyangoda is a veteran finance professional with 27+ years' experience and prior senior roles at NDB Bank, Sampath Bank and Aitken Spence.

National Development Bank PLC (NDB) has partnered with the Women’s Blind Organisation to support International White Cane Day 2025, aiming to empower visually impaired women with resources, self-employment opportunities and educational assistance.

Colombo Stock Exchange fell 5.35% for the week, wiping out nearly Rs. 424 billion in market value. The ASPI hit a two-and-half-month low at 21,497.08 yesterday, with heavy losses in banking and capital-goods counters including JKH, HHL, COMB, SAMP, DFCC, NDB and HNB.

Nations Trust Bank (NTB) has received CBSL approval to acquire HSBC Sri Lanka’s retail banking business for Rs.18 billion, with completion expected in H1 2026. The deal will transfer about 200,000 customer accounts including premium clients, credit cards and retail loans to NTB.

Sri Lanka's ASPI fell 5.4% over the week after Cyclone Ditwah, closing Friday at 21,497.08 as selling pressure hit the market. Banks and John Keells were top negative contributors, while some construction stocks (e.g., Swisstek) saw buying ahead of expected reconstruction projects.

AFC Asia Frontier Fund co-manager Ruchir Desai said Sri Lanka is now one of the fund’s top country picks, having raised allocation since November 2022, citing regained political and economic stability, undervalued equities (market ~11x earnings) and strong bank and consumer earnings.

Nations Trust Bank received Central Bank approval to acquire HSBC Sri Lanka's retail banking business, adding about 200,000 customer accounts; completion is expected in the first half of 2026.

Colombo market recouped 30% of Monday’s Rs.240 billion wipe-off as the ASPI rose 1% (219 points), restoring about Rs.72 billion of market cap; top contributors included RICH, CINS, SAMP, BUKI and NDB while capital goods and materials led turnover.

Colombo Stock Exchange recovered as the ASPI rose 1% (219.51 pts) to 22,241.57, led by gains in diversified financials and construction-related shares, with notable rises in Ceylinco, Sampath, NDB, Bukit Darah, Sierra Cables and ACL Cables.

NDB Bank (NDB.N0000) has partnered with The Ceylon School for the Deaf and Blind to support education, care and vocational training for differently abled children. The initiative will back residential schools in Ratmalana and Kaithady with vocational skills training including tailoring, carpentry, bakery, graphic design and ICT.

Colombo market ended a three-day decline as ASPI rose 0.77% (174.03 pts) to 22,819.91 and S&P SL20 gained 0.30% to 6,298.75. Market turnover exceeded Rs.4bn with banking counters (led by Hatton National Bank and DFCC) dominating activity while foreign investors were net sellers of ~Rs.213.2m.

ASPI fell 1.47% to 22,644.88, a five-week low, while the S&P SL20 dropped 1.33% to 6,279.71. Declines in banks and blue-chips led losses (notably HNB, RICH, NDB, SAMP and JKH); turnover was Rs.4.95bn with foreigners net buying ~Rs.83.2m and heavy activity in Hemas, DOCK and York.

Colombo Stock Exchange rebounded 0.77% as the ASPI rose 175.03 points to 22,819.91 and the S&P SL20 climbed 0.30%; investor interest was strong in food, beverage and tobacco names. Top contributors included Ceylinco Holdings, NDB, Melstacorp, Browns Investments and Sunshine Holdings, while turnover fell to 4.06 billion rupees.

National Development Bank PLC (NDB.N0000) was recognised among the Ten Best Integrated Reports in Sri Lanka and was Runner-Up in the Best Integrated Report – Banking Sector at the CMA Excellence in Integrated Reporting Awards 2025. The award highlights the bank's reporting on strategy, governance, sustainability, risk management and digital transformation.

Hatton National Bank MD/CEO Damith Pallewatte set out HNB's 'Road to 2030', prioritising digitalisation and remittance-capture as growth drivers and citing worker remittances up ~20% y/y to nearly $6.5bn. He urged banks to align with Budget 2025 targets including a 12% digital-economy goal and DPI like SL-UDI and asset registries.

Colombo Stock Exchange fell 1.47% to 22,644 as profit taking continued, with the ASPI down 338.72 points and the S&P SL20 down 1.21% to 6,287.81; turnover was 4.95 billion rupees. Top negatives included HNB, NDB, Sampath Bank and John Keells Holdings.

NDB Bank signed an MoU with EduViz International to expand its Student File service, facilitating overseas tuition and education-related payments for Sri Lankan students. The service offers streamlined, CBSL-compliant transfers with faster payments and greater transparency.

The CSE introduced the 'GSS+ Bonds' regulatory framework in March 2025 to list green, social and sustainability bonds, and Bank of Ceylon has aligned its ESG systems and investment banking division to facilitate such issuances.

Colombo bourse closed marginally down as the ASPI fell 0.09% (21.80 pts) to 23,029.86 on turnover of over Rs. 3.8bn and net foreign outflow of Rs. 4.7m. Major negative contributors included Commercial Bank, Dialog, Colombo Dockyard, DFCC and NDB, while J.F. Packaging rose on debut.

Colombo Stock Exchange ASPI fell 0.09% to 23,029.86 and the S&P SL20 dropped 0.23% to 6,361.58 as banks and selected shares weighed on the market. Top drags included Commercial Bank (209.50), Colombo Dockyard (418.75), DFCC (162.25) and NDB (149.50); Senkadagala Finance announced a Rs1.035bn rights issue at Rs240 and its share rose to 1,274.50.