Sri lanka News – Sri Lanka’s Sanasa Development Bank said it will focus on export oriented and value creating businesses, as the lender celebrates 25 years in an economy that is experiencing rising rates and inflation.
“In the present environment, creating new economic opportunities for all Sri Lankans and supporting export-oriented businesses, along with businesses that create value for Sri Lanka, will be focus areas,” SDB said in a statement.
“Working together with like-minded partners, SDB bank is moving to further its goal and vision to develop Sri Lanka’s SME sector.”
Over 25 year the bank has an island-wide network of 94 branches catering to customer base stretched across, rural, SME and urban group. SDB has a strategic focus on SME development, women’s empowerment, and digital inclusion.
SDB has built long term partnerships with international finance organizations including the Nederlandse Financierings Maatschappij Voor Ontwikkelingslanden N.V (FMO), Belgian Investment Company for Developing Countries (BIO), International Finance Corporation (IFC).
Set up in 1997, on the principles of the Co-operative Movement, SDB grew to a 25 branch bank in a decade. In 2012 it became a listed company on the main board of the Colombo Stock Exchange and is rated BB+ (stable) by Fitch Ratings.
“Today, the bank is strongly positioned, financially, and in terms of expertise, experience and other resources, to fuel economic development in Sri Lanka, with a keen focus on the SME sector,” SDB said.