BANKING

NDB extends universal banking to Matara

NDB Stockbrokers (Pvt) Ltd (NDBS) opened a dedicated service centre at the NDB Matara Branch, introducing a world of new opportunities to the residents, businessmen and investors in the region.

NDBS’ branch in Matara would channel its customers towards investment opportunities in the Colombo Stock Exchange and provide expert advisory services on equity markets.

It would also offer them a wide range of capital market products. Customers in Matara would now have access to a broad base of wealth creation tools structured by the Investment arm of the NDB Group.

Commenting on the opening of the new NDBS branch, the Chief Executive Officer of NDB, Russell de Mel said, “Building on our founding principle of development banking, today NDB has excelled in its commercial banking operation to grow into a fully-fledged banking conglomerate that offers a universal banking experience to its clientele. This unique universal banking proposition of the NDB Group differentiates us from other financial institutions.

We are now on an aggressive drive to take this universal banking experience to customers across the island in a bid to promote accelerated growth and wealth creation; by introducing a diverse product mix with sophisticated investment options.” NDB is one of the fastest growing banks in the country with NDB Group having regional operations in Maldives and Bangladesh.

The Bank offers a wide range of commercial banking services through its growing island-wide branch network, catering to an increasing customer base from all walks of life.

More details could be obtained from our website www.ndbs.lk.

Bankia sells City National Bank to Chile’s BCI

Spain’s bailed-out lender Bankia announced it would sell City National Bank of Florida to Chile's BCI for around 683 million euros ($883 million).

The bank said in a statement it had “made provisions in late 2010 to cover losses” of City National, meaning it “hopes for a net capital gain of around 180 million euros” from the sale to Banco de Credito e Inversiones.

The sale of Bankia's American subsidiary, brokered by Goldman Sachs and Sullivan&Cromwell, will result in 435 job losses, the statement said.

AFP

People’s Leasing opens branches in Uva, Eastern regions

People’s Leasing and Finance PLC (PLF) in its expansion drive opened four new branches in Welimada, Wellawaya, Moneragala and Kalawanchikudy in Uva and Eastern Provinces recently.

With these four branches, the branch network of PLF will reach to 73 branches. This expansion drive of the PLF would keep in line with the Government’s regional development programs with special focus on the small and medium scale entrepreneurs in the regions.

The branches were declared open by D. P. Kumarage, General Manager/CEO of PLF along with Laksanda Gunawardane, Assistant General Manager, customers, well-wishers and the staff of the respective branches.

Commenting on the opening of these four branches, Kumarage stated that the main objective of the opening of fully fledged branches in the rural areas of the Country was to offer helping hands to rural entrepreneurs and bring them to the mainstream of business of the country while uplifting the living standards of the general public through promoting their savings and investment habits.

“The application of modern technology with trained staff was the key to provide efficient service to the customers of the PLF,” he noted. “Over the past few years, PLF has emerged as a financial one stop house for rural masses as the Company has set up a few subsidiary companies for insurance, microfinance, property development and fleet management in which the group could offer a comprehensive package of services to customers quickly at low cost,” he said.