National Development Bank PLC (NDB) has commissioned Deloitte Touche Tohmatsu India LLP to conduct a forensic review into the facts and circumstances surrounding the recent fraud incident, the bank disclosed in a filing to the Colombo Stock Exchange dated April 23, 2026.
The review, carried out in consultation with the Central Bank of Sri Lanka’s Director of Bank Supervision, will examine the fraudulent transactions as well as any lapses in controls, oversight, and governance.
Deloitte’s findings, including interim updates and the final report, will be submitted directly to the Central Bank.
The disclosure follows earlier updates on April 2 and April 6, with NDB’s Board stressing its commitment to transparency and accountability to shareholders, depositors, customers, and stakeholders.
The move comes as NDB disclosed that an internal fraud involving certain employees was detected, with the estimated exposure amounting to approximately Rs. 13.2 billion.
At the time, the bank said customer balances remain unaffected, and operations continue without disruption.
Soon after, the Central Bank of Sri Lanka (CBSL) announced that NDB, in consultation with CBSL, is finalizing arrangements to engage a leading international firm with overseas experts to conduct a comprehensive forensic audit into the recently disclosed internal fraud.
As such, NDB has now commissioned Deloitte Touche Tohmatsu India LLP (“Deloitte”) to conduct a forensic review of the incident. (Newswire)
