National Development Bank PLC is a listed commercial bank in Sri Lanka offering a broad suite of integrated financial solutions across retail, SME and corporate customer segments. Together with its subsidiaries engaged in capital market services, the Bank provides lending, deposit, transactional and advisory services to support customers across their financial life cycles.
The Bank’s activities include development and project finance, commercial banking for individuals and businesses, and a range of capital market services provided through group subsidiaries, with targeted propositions for women and SMEs. Key branded initiatives and platforms referenced in the report include the NEOS digital banking platform, the NDB Araliya proposition and the Sri Lanka Vanithabhimana initiative.
NDB also undertakes merchant banking, venture capital, stock broking, fund management and property development activities as part of its broader group offerings, and it is strengthening its sustainable finance capabilities including green and sustainability‑linked financing to support climate‑resilient and inclusive economic activity across Sri Lanka.
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NDB reported Q2 2026 standalone post-tax profit of LKR 3.01 billion and 1H 2026 post-tax profit of LKR 4.83 billion, with operating profit before taxes of LKR 9.50 billion after recognising a LKR 2.55 billion fraud impact. Excluding the fraud, 1H profit would be LKR 6.21 billion; revenue grew 12.8%, Stage 3 coverage improved to 62.9%, and CET1/Tier 1 ratio was 9.7%.
National Development Bank PLC reported operating profit before taxes on financial services of Rs. 9.5 billion and post-tax profit of Rs. 4.83 billion for 1H 2026 after recognising Rs. 2.55 billion of fraud-related losses (part of a revised total Rs. 13.58 billion). Excluding the fraud, 1H post-tax profit would have been Rs. 6.21 billion; CET1 9.7%, CAR 15.3% and LCRs >163%.
Shareholders sought Commercial High Court leave to bring a derivative suit against National Development Bank (NDB) over an alleged Rs.13.2 billion fraud, about 15.3% of its Rs.86 billion net assets. Petitioners say CEFT-related receivables rose from ~Rs.1.4bn in 2023 to Rs.12.2bn in 2025; the case resumes on 8 July.
Ada Derana·Jun 28, 2026·Regulatory or legalNegative
National Development Bank PLC (NDB) received an interim Deloitte forensic report identifying approximately Rs.13,579,664,684 of suspicious transactions in an ongoing fraud investigation; the findings are preliminary, the report is confidential, and NDB said it will make further disclosures as appropriate.
National Development Bank said Deloitte's interim forensic review identified suspicious transactions worth Rs.13,579,664,684 (Rs.13.58bn). The bank said the observations are preliminary, the report is confidential and it will make further disclosures as appropriate.
National Development Bank PLC suffered an internal Rs. 13.2 billion fraud that went undetected, prompting a parliamentary probe that blamed Central Bank oversight failures and drew IMF demands for regulatory and AML/CFT reforms. The Central Bank has retained Deloitte India for a forensic audit with an interim report due in two weeks and a final report by July 18.
A Deloitte forensic audit is probing a Rs. 13.2 billion fraud at National Development Bank (NDB); an interim report is due next week and the final report on 18 July. CBSL says NDB still meets capital and liquidity requirements while supervision is under scrutiny.
EconomyNext·May 25, 2026·Regulatory or legalNegative
Verité Research found the Employees’ Provident Fund (EPF) discloses less information than listed firms and banks, warning this weak transparency endangers private-sector savings; the brief cites a Rs 13.2 billion fraud at National Development Bank PLC, noting the EPF holds about 9.46–9.50% of NDB equity.
Daily FT·May 18, 2026·Management or board changePositive
NDB Investment Bank (part of NDB Group) appointed Kaushini Laksumanage as Deputy CEO, Eshani Thenuwara as Head of Debt Capital Markets and Sujani Perera as Senior VP, Corporate Advisory to strengthen leadership and drive growth and market expansion.
Banks & Finance sector: what is happening
Last 30 days to Aug 4, 2026
Regulatory tightening dominated banks/finance as Cabinet named the SEC to regulate virtual asset service providers within a CBSL/FIU/IRD framework and approved a 2026-2030 national AML policy. The FIU flagged long-running trade-based money laundering via phantom imports, after probes found about $715m in fraudulent remittances. CBSL kept LTV caps on vehicle and gold loans. Services PMI signaled June expansion led by financial services.