The National Development Bank PLC (NDB) has notified the Central Bank of Sri Lanka (CBSL) about an internal fraud investigation that may result in considerable financial losses. However, NDB has assured that no customer accounts or deposits have been compromised due to this incident.
The Central Bank has conducted an initial evaluation of the potential financial repercussions based on the information shared by NDB. It has concluded that, despite the anticipated loss, the bank’s capital adequacy and liquidity ratios remain above the minimum thresholds established by regulations. CBSL is actively monitoring the situation and is prepared to implement necessary actions if the circumstances demand it.
Should the need arise, NDB will have the option to access temporary liquidity support from CBSL, as permitted under existing laws and established frameworks.
