DFCC Vardhana Bank Sri Lanka Post tie-up

DFCC Vardhana Bank (Vardhana), the everyday banking unit of DFCC Bank signed a Memorandum of Understanding (MoU) with Sri Lanka Post (SL Post).

Under this initiative, the bank will set-up a series of banking units at SL Post offices across the country, to offer customers many Commercial and Personal Financial Services offered by Vardhana.

The MoU was signed by the Post Master General and the Managing Director/CEO of Vardhana.

Under the MoU, the bank will provide commercial banking facilities to a large segment of the population through the SL Post network.

The bank aims to focus on providing formal banking facilities to the rural areas of the country through the extensive network of postal and sub-post offices.

Additionally, Western Union’s appointment of Vardhana as their central collection account to facilitate Western Union transactions within SL Post offices is a crucial initiative for the bank’s efforts to commence commercial banking activities within SL Post offices. Chief Executive Officer of Vardhana Bank, L.G Perera explained that the initial plans for the project would see the bank opening 100 such units within the first six months of the signing. “Our aim is to reach over 600 SL Post offices by the end of 2010.”

He continued, “At Vardhana Bank, we are strongly committed to providing people across the country with the very best products and services, and we look forward to expanding our network across the country,” he said.