National Development Bank PLC (NDB Bank) has disclosed a fraud involving certain employees acting in connivance with third parties, with preliminary estimates indicating a possible loss of around Rs. 380 million.
In a disclosure to the Colombo Stock Exchange, NDB Bank said the matter has been promptly referred to law enforcement authorities for investigation and necessary action.
The bank said it is currently unable to quantify the exact extent of the fraud, noting that the final amount could be substantially higher pending the outcome of ongoing criminal investigations and internal inquiries.
“NDB Bank has detected an act of fraud that has been committed by certain employees in connivance with a third party or parties,” the bank said in its disclosure.
The bank further stated that the Central Bank of Sri Lanka has been informed and that it will fully cooperate with all regulatory authorities to mitigate any potential damage and hold those responsible accountable.
Despite the incident, NDB Bank assured customers that deposits and account balances remain safe and that there will be no impact on the bank’s ongoing operations.
The disclosure was made by Vice President and Company Secretary Shehani Ranasinghe on behalf of the Board of Directors. (Newswire)
