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NDB reports all-time high earnings; doubles PAT on a normalised basis

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Kelum Edirisinghe - Director, Chief Executive Officer / Chair, Board of Directors Sriyan Cooray

National Development Bank PLC (hereinafter ‘the Bank’) announced its results for the financial year ended December 31, 2025 to the Colombo Stock Exchange recently. Full year results tabled by the Bank showcase a strong growth across all business lines with Net Banking Revenue increasing by a 45.2% on a comparable basis.

Like most other peers, the Bank’s 2024 financial performance was positively impacted following the successful conclusion of the ISB debt restructure with a one-off impact on interest income, fee income and net impairments amounting to LKR 1.4 billion, LKR 0.7 billion and LKR 9.4 billion, respectively for the said year.

Fund based income

Net interest income (NII), which accounts for close to 75.0% of Bank’s total operating income, grew by 6.5% on a normalised basis. Despite pressure on interest-earning assets arising from the lower interest rate environment, the Bank’s disciplined margin management helped stabilise Net Interest Margin (NIM) at 4.0% for the year. On a comparable basis, excluding one-off exceptional items, NIM stood at 4.2%, compared to 4.3% for both scenarios in 2024. By the end of the year, the Bank had close to LKR 29.3 billion in Loans and Deposits under a special arrangement with its customer(s) with a netting-off feature (end 2024: LKR 19.6 billion).

Non-fund based income

Net fee and commission income reached LKR 8.1 billion for the year – representing a growth of 14.3% from LKR 7.1 billion in 2024 excluding ISB restructuring related fees. Key growth drivers for the current year were trade finance, credit and lending, digital banking and credit and debit cards.

Credit and operating costs

Credit costs for the year amounted to LKR 5.7 billion, reflecting a substantial reduction of 57.1% compared to LKR 13.2 billion in 2024, a testament to the Bank’s strong credit underwriting practices and focused efforts on collections and recoveries. The Bank’s success on account of the latter is best reflected in notably improved stage 2 and 3 loan stock which stood at 7.9% and 10.8% respectively at end 2025 as compared with 16.6% and 14.0% at end 2024. Stage 3 provision coverage also saw further improvement to 59.1% from 54.5% during 2024 showcasing the Bank’s prudent management of credit risk.

Operating expenses closed at LKR 19.0 billion for the year, marking a 13.1% YoY increase. This increase was primarily driven by routine staff-related increments and necessary market realignments, along with higher investments in IT infrastructure and business development undertaken during the year.(NDB)



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PMF Finance appoints Nishani Perera as Non-Executive Independent Director

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Nishani Perera

PMF Finance PLC has announced the appointment of Ms. Nishani Perera as a Non-Executive Independent Director, further strengthening the Company’s strategic oversight, governance framework, and board-level expertise as it continues to advance its transformation and long-term growth agenda.

Ms. Perera is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and brings over 19 years of experience across audit, assurance, advisory, risk management, and corporate governance. She currently serves as Partner – Audit & Assurance at Moore Aiyar and as Director of Moore Consulting (Pvt) Ltd.

Over the course of her career, Ms. Perera has gained substantial exposure to listed companies, banks, finance companies, and other regulated entities. Her areas of expertise include financial reporting under SLFRS/LKAS, audit and risk oversight, regulatory compliance, and the implementation of quality management standards. She has worked closely with Boards of Directors and Audit Committees on matters relating to financial reporting integrity, internal control frameworks, enterprise risk governance, and adherence to evolving regulatory requirements.

Ms. Perera holds a Master of Laws (LL.M.) from Cardiff Metropolitan University in the United Kingdom and a Bachelor of Science in Business Administration (Special) from the University of Sri Jayewardenepura. She is also an Associate Member of ACCA and CMA Sri Lanka, and a Fellow Member of AAT Sri Lanka.

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Capital Alliance deepens capital market presence with third Closed-End Fund Listing at the CSE

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(Left – Right): Ramly Rahman, Analyst – Capital Alliance Partners Ltd ; Praveen Kanagasabai, Vice President – Capital Alliance Partners Ltd: Mrs. Nilupa Perera, Chief Regulatory Officer – CSE; Rajeeva Bandaranaike, CEO – CSE; Vevaashgar Vathanatheesan, Assistant Vice President – Capital Alliance Investment Ltd (CALI); Ochitha Bandara, Analyst – CALI; Dimuthu Abeyesekera, Chairman – CSE; Ms. Pranavi Sivaruban, Analyst – CALI; Yasith Lakshan, Analyst – CALI; Rajitha Gunarathna, Assistant Manager – Capital Alliance Partners Ltd.

The units of the “CAL Three Year Closed End Fund” were officially listed on the Colombo Stock Exchange (CSE) recently. Accordingly, a total of 841,263,375 units of the ‘CAL Three Year Closed End Fund’ were listed by Capital Alliance Investments Ltd (CALI), a member of the Capital Alliance Ltd Group (CAL Group). The listing was commemorated by way of a special bell ringing ceremony on the CSE trading floor.

CSE CEO Rajeeva Bandaranaike speaking at the occasion remarked upon the rising demand for Unit Trusts: “When you look at funds, particularly unit trusts in today’s active capital market, we see a lot of domestic interest in the market with more investors entering. Funds, not only fixed income funds but also growth and balanced funds, can be the ideal vehicle through which new investors can enter the market. We see this interest reflected in the success of CAL’s Three Year Closed End Fund. More people are seeking to invest their money through professional fund managers.”

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Phoenix Ogilvy dominates Sri Lanka’s creative rankings

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Irvin Weerackody – Chairman, Ogilvy Group Sri Lanka

Phoenix Ogilvy has been named 2025 Sri Lanka Agency of the Year after topping The Campaign Brief Asia’s Creative Rankings as the most internationally awarded agency in the country.

The agency’s ranking also marks Sri Lanka’s return to the list in 2025, following the country’s absence from it the previous year.

The Campaign Brief Asia Creative Rankings annually evaluate the top 100 most awarded creative agencies in Asia, based on their achievements across leading international award shows.

The rankings are widely regarded as one of Asia’s most credible measures of creative excellence. Agencies accumulate points purely from award wins across major international creative shows, making it one of the longestrunning and most respected benchmarks of creative performance in the region.

Phoenix Ogilvy secured the top spot in the national table, amassing an impressive 295 Creative Ranking points after standout wins across six major international creative award shows, including London International Awards (LIA), One Asia Awards, Clio Awards, AdFest, Spikes Asia, and Campaign Brief’s The Work.

Being ranked at the top not only signals national creative leadership for Phoenix Ogilvy but also exhibits the agency’s talent strength. In a testament to this creative calibre, the agency’s talent dominated the Campaign Brief Asia’s Individual Creative Rankings in Sri Lanka.

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