Coming Together

From left: Dr. Fernando Im, Senior Country Economist for Sri Lanka and the Maldives, The World Bank, Hon. Eran Wickramaratne, State Minister, Ministry of Finance and Mass Media, Dr. W A Wijewardana, Former Deputy Governor of the Central Bank of Sri Lanka, Prof. Indralal de Silva, Former (Chair) of Demography, University of Colombo, Prof. Amala de Silva, Department of Economics, University of Colombo at the panel discussion on "Demographic Change in Sri Lanka" moderated by Dr. Ramani Gunatilaka, International Centre for Ethnic Studies.

Two years after the process started, NDB and its commercial banking arm NDB Bank announced the companies will merge next month, after parliament amended the NDB Act. Two years after the process started, NDB and its commercial banking arm NDB Bank announced the companies will merge next month, after parliament amended the NDB Act. The NDB group’s top and bottom line grew, after consolidation which included its holding in Eagle Insurance that was acquired last year.

Nihal Welikala, the General Manager of NDB and the CEO-in-waiting of the merged entity took some questions from LBR about the future and challenges faced by the bank and the financial sector.

Shamindra Kulamannage: Where do you think growth will come from in the next couple of years?
Nihal Welikala: SME sector. SME sector is the back bone of the economy. That will continue. The US$ 1000 per capita is an important milestone.

When that is achieved aspirations will change and these aspirations should be met. If you look at the demographics- it is also changing.

With increasing prosperity the needs for saving products, pensions are also changing. I see many opportunities in the e