SANASA Development Bank PLC
Integrated Annual Report 2020
This is SDB bank
Banking on Us
Who we are
We are a Licensed Specialised Bank registered by the Central Bank of Sri Lanka, under the Banking Act No. 30 of 1988 (as amended by the Banking Act of 1995).
At SDB bank, our strength lies in the robust relationships we nurture with rural and underbanked communities through an extensive network of co-operative societies and Government organisations. Our network comprises 94 branches manned by a workforce of 1,490 dedicated employees across the island.
We foster socio-economic progress by improving financial literacy and inculcating sound financial habits among grassroots communities, even if we will have to witness our customers eventually migrate to mainstream financial institutions that had previously considered
them unsuitable.
Our customer base includes:
- Retail customers
- SME customers
- Co-operative societies
- Business banking customers
Our varied product portfolio provides solutions that span areas such as development, personal banking and leasing, while our deposit products encourage these communities to invest and save.
SDB bank is listed on the Main Board of the Colombo Stock Exchange. The Bank has been assigned a National Long-term Rating of BB+(lka) with a stable outlook by Fitch Ratings Lanka Ltd., and the (SL)BBB- with stable outlook by ICRA Lanka Limited.
Our rural focus is reinforced by the direct links the Bank maintains with over 8,500 co-operatives countrywide. Our rapid growth and SME-sector strength have allowed us to secure significant investment from some of the top global development finance institutions along with technical support, positioning us strongly to capitalise on these gains in the year 2020 and in the future.
Our Journey
Since its inception, up to end 2020, SDB’s assets have grown from approximately LKR 100 Mn. to LKR 129 Bn. During this time, the Bank’s geographical footprint has also expanded through LankaPay we offer our customers access to nearly 5,000 ATM points covering grassroots communities across a large portion of the country in addition to our branch network. These achievements were not easily won.
Through the many sociopolitical and economic challenges that dotted this period of time, including 30 years of ethnic strife, recession, and of course the 2004 tsunami and other natural disasters, as well as the COVID-19 pandemic, our services to this underserved segment of society have remained unfazed. In addition, we have focused on improving financial literacy and financial inclusion. Today we are one of the leading financial institutions for individuals, micro and SME businesses, and communities who have no other viable opportunity to realise their aspirations and improve their way of life.
1997
SANASA Development Bank Ltd. incorporated with capital of LKR 123 Mn., contributed largely by primary SANASA Societies
1998
10th branch opened in Kandy
1999
Total assets reached over LKR 100 Mn.
2006
10-year development plan initiated
2007
- Celebrated 10 years of excellence
- Branch network expanded to 25
2008
- Winner of the National Excellence Award
- Total assets increased to LKR 10 Bn.
- Employee cadre expanded to 500
2009
- SANASA Group loan scheme introduced
- Share capital increased to LKR 1 Bn., from LKR 123 Mn.
- Branch network expanded to 50
2010
- Head Office relocated to new building which is located in Kirulapone
- Ranked as the second best micro finance institution in the World, by Mix Market Global – USA
- Branch network expanded to 75
2012
- Introduced debit cards and ATM facilities
- Listed on the Main Board of Colombo Stock Exchange
2013
- Total assets increased to LKR 29.7 Bn.
2014
- Employee cadre increased to 1,000
- First rights issue of shares oversubscribed
- Issued share capital exceeds LKR 3 Bn.
2015
- LKR 60 Bn. asset base
- LKR 4 Bn. debenture and LKR 5 Bn. capital base
2016
- LKR 66 Bn. asset base
- LKR 5.5 Bn. capital base
- Tele Collection Unit launched in Malabe
- New logo (SDB bank) launched
2017
- LKR 82 Bn. asset base
- LKR 7.3 Bn. capital base
- Celebrated 20 years of excellence
- USD 22 Mn. investment from SBI/FMO and IFC
2018
- LKR 96 Bn. asset base
- Awarded the title of “The Fastest Growing MSME Bank in Sri Lanka” by the Global Banking and Finance Review, UK, at the Global Banking and Finance Awards 2018
- Corporate Top Saver launched
2019
- LKR 107.8 Bn. asset base
- Tier II Capital injection of USD 18 Mn. from DGGF and BIO
- Digital payment platform “UPay” acquired
- “SDB Mobile” Banking launched
- Business Internet banking with CEFTS and SLIPS connectivity launched targeting SMEs
- Connected to LankaPay ATM network
- New website launched
2020
- Highest ever performance of the Bank
- Global Banking and Finance Awards 2020
- Best CSR Bank in Sri Lanka 2020
- Banking customer satisfaction and happiness
- Ranked 45th place on the Brand Finance Sri Lanka’s 100 most valuable brands Annual List for 2020
- Recognised by International Investor Magazine Awards 2020
- Second Sri Lankan Bank to be verified by the Facebook with Blue tick
- Asian Banking and Finance Awards 2020
- Rural/Cooperative Bank of the Year – Sri Lanka
- Financial inclusion initiative of the year – Sri Lanka
- Digital Wallet Initiative of the Year – Sri Lanka
- First digital rights issue
- Rights issue was oversubscribed
- Loan book exceeded LKR 100 Bn.
Our Vision
SANASA Development Bank PLC will be the apex Bank of the cooperative sector and a leading partner of national development with a global focus.
Our Mission
By providing high quality innovative and competitive financial products and services, offered through the best customer-friendly channels, assisted by cutting edge technologies, with a team of diverse talents working in synergy to provide a total solution to our stakeholders and operating in a culture of learning and continuous value creation, we strive to become the most responsible financial institution in Sri Lanka.
