Central Bank closely monitoring NDB crisis

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The Central Bank of Sri Lanka said on Friday it was closely monitoring developments relating to National Development Bank PLC (NDB) following the recent disclosure of an internal fraud amounting to Rs. 13.2 billion. Several people including bank officials have been detained in this connection,

Based on assessments carried out thus far, NDB continues to operate with capital and liquidity levels well above the minimum regulatory requirements. Importantly, the incident has not had any impact on customer accounts or deposits, which remain safe and secure, the banking regulator said, adding that it maintains close and continuous engagement with the bank and relevant stakeholders. “The Central Bank stands ready to take any measures, if required, to safeguard the stability of the bank and to protect the interests of depositors,” it said in a statement.