NDB Reports Internal Fraud to CBSL; Customer Accounts Unaffected

The Central Bank of Sri Lanka (CBSL) stated that the National Development Bank PLC (NDB) has informed CBSL of an internal fraud that could result in a significant financial loss. CBSL further noted that NDB has confirmed no customer accounts or deposits have been affected by this incident.

Central Bank said it has carried out a preliminary assessment of the financial impact based on information provided by NDB and is satisfied that, notwithstanding the reported loss, prudential ratios relating to capital adequacy and liquidity remain above the minimum regulatory requirements. CBSL continues to monitor developments closely and will take necessary measures if required.

CBSL also said that, if necessary, NDB will be able to access temporary liquidity support available to banks under the provisions of relevant laws and schemes already in place.