New Look NDB

Sri Lankan Prime Minister Ranil Wickremasinghe (2nd R) arrives to visit the site of a bomb attack at St. Anthony's Shrine in Kochchikade in Colombo on April 21, 2019. - A string of blasts ripped through high-end hotels and churches holding Easter services in Sri Lanka on April 21, killing at least 156 people, including 35 foreigners. (Photo by ISHARA S. KODIKARA / AFP) (Photo credit should read ISHARA S. KODIKARA/AFP/Getty Images)

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