SDB bank receives award for fastest growing MSME bank in SL | Sunday Observer

SDB bank receives award for fastest growing MSME bank in SL

SDB bank once again being recognized for its invaluable contribution towards the upliftment and development of the MSME sector, with the latest award it received as the “Fastest Growing MSME Bank in Sri Lanka” for the year 2018, by the UK based publication, Global Banking and Finance Review.Global Banking and Finance Review, which strives to provide a balanced, informative and independent view of the global financial landscape, is a publication that is read in over 200 countries by top-tier executives and decision-makers.

Nimal C. Hapuarachchi, General Manager/CEO of SDB stated that “The SANASA Development Bank has strengthened its position in the MSME sector, by moving into retail lending with a focus on small and medium enterprises. The rapid expansion and the development of the bank, in the MSME sector and the retail banking sector, was largely facilitated by the investments from the Nederlandse Financierings - Maatschappij Voor Ontwikkelingslanden N.V. (FMO), SBI/FMO Financial Sector fund and International Finance Corporation (IFC), a member of the World Bank Group, which invested US $22 million (approximately Rs. 3.3 Bn) in the Bank,” he said. Ms. Samadanie Kiriwandeniya, the Chairperson of SDB bankstated that “We have used our unique position in the Sri Lankan banking sector, to introduce financial products and services that will empower the youth and women in rural areas of Sri Lanka, who are struggling to start and stabilize their own businesses. We believe that these customers will grow rapidly in the future and add enormous value to the Sri Lankan economy.”