National Development Bank PLC (NDB) has launched an investigation into an internal fraud involving employees and third parties, with preliminary estimates indicating a potential loss of approximately Rs. 380 million, which could increase.

The bank stated that the matter has been referred to law enforcement authorities for further investigation, while internal inquiries are also underway. It noted that the full extent of the fraud has not yet been quantified.

NDB said it has informed the Central Bank of Sri Lanka and will work closely with regulators to mitigate losses and ensure accountability.

The bank further assured that customer deposits and account balances remain secure, adding that its ongoing operations have not been affected.