NDB is also planning to diversify its leasing business to under-banked Maldives with the expectation of boosting its forex earnings.
rnrnldblquote We will be the first leasing company in Maldives, which is a dollarised economy. If the tourism industry recovers in the near future, there would be a wide scope for the leasing business
dblquote , said Nihal Welikala, General Manager NDB in an interview with Lanka Business Online.
rnrnThe leasing operation in Maldives will be formed in a partnership arrangement with funding agency, International Finance Corp (IFC) and a local partner.
rnrnCommenting about the strategy to remove legal demarcations between its nine businesses, Welikala said the focus would be on merging NDB and it
quote s newly acquired retail bank, NDB Bank.
rnrnThis requires an amendment to the NDB Act following Central Bank
quote s approval and would enable the NDB to exploit the low cost deposit generation of the retail bank to finance project lending.
rnrnldblquote Legal boundaries st