Rs. 13.2 billion fraud at NDB : CBSL issues statement

The Central Bank of Sri Lanka says it has been informed by the National Development Bank PLC (NDB) of an internal fraud that could result in a significant financial loss, while noting that no customer accounts or deposits have been affected.

In a statement issued on 6 April, the Central Bank said it carried out a preliminary assessment of the financial impact based on information provided by NDB and is satisfied that capital adequacy and liquidity ratios remain above minimum regulatory requirements.

The Central Bank further noted that it will continue to monitor developments and take necessary measures, if required. It also stated that NDB would be able to access temporary liquidity support, if necessary, under existing provisions.

Earlier, NDB estimated the fraud exposure at approximately Rs. 13.2 billion, noting that the incident was limited to a specific operational area involving certain employees acting in collusion.

The bank also assured that customer balances remain secure and banking operations continue without disruption.