NDB Bank opens latest branch in Ambalantota
NDB Bank recently opened its new branch in Ambalantota as part of its
aggressive branch expansion.
With this opening, the NDB Bank branch network has now increased to
Ambalantota, a town blessed with fertile soil is perfect for paddy
farming and grain cultivation. The people in the area earn their living
by growing sesame, meneri, cowpea, chickpeas and corn.
This town is also renowned for kapok, sugar cane and curd. Through
these farming efforts the people of the area contribute immensely
towards making the island self-sustained.
To encourage and support these people in their business endeavours,
NDB Bank will be offering SME products to the small and medium
businessmen in Ambalantota.
With its expertise and knowledge in SME financing services, the Bank
will offer many financing facilities -including short-term working
capital loans, supplier and distributor financing and long-term funding,
which will be beneficial to the farmers in the area.
NDB Bank Ambalantota will offer its retail banking services, such as
current and savings accounts, children’s savings accounts, NRFC and RFC
accounts, fixed deposits, housing loans, education loans, personal
loans, leasing facilities, credit cards, debit cards, pawning services
and western union money transfer services, internet banking and
bancassurrance, so customers in and around Ambalantota have a wide
selection of products to choose from.
Pawning and Western Union money transfer will also be part of its
Litro Gas, Singer promote the convenience of cooking
Litro Gas Lanka Limited and Singer (Sri Lanka) PLC have joined hands
to launch a special scheme to promote new Litro Gas domestic connections
Litro Gas, who is currently the market leader in the LP Gas industry,
has already injected over 150,000 new domestic cylinders into the market
this year and have a total popular of over 3 million cylinders.
These cylinders are being distributed island wide through their
distributor and dealer network of more than 2100 outlets which are
prominently represented in all corners of the country.
Litro decided to strike a partnership with Singer (Sri Lanka) PLC due
to the reputation it has earned as a reliable, trusted partner in
household appliances. Singers’ island wide network together with their
excellent after sales service made this Company the obvious choice for
The main objective of this project is to introduce LP Gas to firewood
users and increase the Litro Gas market penetration. According to
research conducted by the UNDP, the use of firewood for cooking in
kitchens that are not designed for the proper release of smoke has
proven to be a health hazard for both women and children.
The study reveals that the smoke released by burning firewood in a
closed environment can lead and aggravate asthma, pneumonia,
tuberculosis and other lung diseases. Most families subject to this
unfortunate situation are those from the low income segment.
The main entry barrier to change the life style from a smoke ridden
environment to a healthy, clean and convenient one is the initial cost
involved in the change of their style of cooking.
As a reliable and socially responsible organization, Litro Gas is
proud to announce that they have devised a scheme with Singer (Sri
Lanka) PLC to enable housewives of Sri Lanka to switch to LP Gas - a
healthier way of life by making the initial cost more affordable with
the intention of increasing the household penetration for LP gas in Sri
This special partnership will enable customers to purchase the 12.5
kg Litro Gas domestic cylinders (metal only), accessory packs,
Singer/Sisil Table Top Gas Cookers on installment or cash basis
separately as individual items from any of the authorized Singer retail
SDBL launches special deposit
The Sanasa Development Bank Ltd, (SDBL) has launched a special SDB
deposit scheme to commemorate their 14th anniversary.
Sanasa Development Bank Deputy Chairman, Samadani Kiriwandeniya said
people have different thoughts and separate investment plans.
"The new SDB deposit has been created to cater to all these demands,"
Sanasa is synonymous with the Sri Lankan banking sector and over the
years it has won many local and international accolades for their
"The best international award we received was when an American based
association ranked Sanasa Micro Finance as the world's second best bank
from among 951 banks.
Sanasa Development Bank is a unique bank committed to uplifting the
standards of living for low income Sri Lankan families with its range of
micro finance activities. The ownership of the bank is confined to the
Sanasa Movement. The clientele of the bank, among others, consists of
farmers, fisherman, vendors and labourers and small business owners,
making us truly a people's development bank.
Sanasa Development Bank has been ranked "No 02" in 2009 MIX Global
100 composite ranking of Microfinance Institutions by the Microfinance
Information Exchange (MIX)."This is another milestone for SDBL" she
The Microfinance Information Exchange (MIX) is the leading provider
of business information and data services for the microfinance industry.
A unique financial institution, Sanasa Development Bank is committed
to uplifting the standards of living for low-income Sri Lankan families
with its range of products and services.
The ownership of the bank is mainly with the Sanasa Movement, which
is a co-operative group founded on an understanding that recognizes the
importance of empowering and equipping rural Sri Lankan communities with
the means of entering modern economic processes.
The bank specializes in microfinance and is focused on its community
customers, including farmers, fisherman, vendors, labourers and small
business owners, among others.
Powered by a community based approach and a professional staff, the
SDB represents a development tool like no other. The SDB currently has
45 branches and 27 extensions centers islandwide and plans to open more
by the end of 2008.
The result is finely tuned system for delivery of microfinance needs
to SANASA primary societies who can then lend to their members.
Prior to the mid 1990s, Sanasa employed a credit and savings model in
which credit was streamed from the national federation through the
districts to the primary societies and their members. Primary member
savings were channelled back to the federation through the primaries and
districts, ensuring a healthy state of liquidity.
In 1997, as a response to the trends ushered in by globalization and
a changing national economy, the Sanasa Development Bank (SDB) was
registered as a Licensed Specialized Bank by the Central Bank of Sri
Lanka. Formed by various SANASA Primaries and the Sanasa Federation, the
SDB is a bank of cooperative microfinance.
The SDB now functions as the financial apex institution for the
Sanasa movement. Having been formed as a credit and thrift cooperative
in 1906, the Sanasa movement has had 100 years of experience as an
indigenous force in Sri Lankan development.
Sinhaputhra Finance holds eye donation drive
Sinhaputhra Finance's eye donation drive conducted annually during
the tail end of the Kandy Esala Perehera along with the Sri Lanka Eye
Donation Society concluded successfully. With over 210 eye donors
enlisted, and 110,000 corneas actually used to give sight to others,
this has been a great service not merely to Sri Lankans but recipients
Senior AGM Pandula Aluwihare coordinated the event along with other
staff members Rukmal Wijesinghe, Achala Gunawardane, Lahiru
Amarasooriya, Irosha Thalagahagoda and D.G. Premaratne. Media Support
was by Ivan Dasanayake.