RDB improves credit, recovery growth
The credit and recovery growth of Regional Development Bank (RDB)
The RDB has focused on a more proactive, performance oriented
futuristic modern approach understanding the needs of clients. The
credit and recovery growth of the RDB is commendable, RDB Chairperson
Janaki Kuruppu told Daily News Business.
"We are ready to move forward this year providing support to the MSME
( Micro, Small and Medium Enterprise) sector to create more
entrepreneurs. The RDB will position to fill the gap between the
financial services provided and needs of borrowers. The thinking is
changing in doing business and this mindset needs to be used in
developing the country," she said.
A consultancy arm will be set up shortly to provide assistance for
emerging MSMEs. This service will look into customer's financial status
and nature of the business in helping them. The RDB will be flexible as
much as possible with regard to collateral when assisting the new
ventures. We need to be prudent and take a balanced view to go forward,"
On completion of eight months of operations after amalgamation of six
RDBs,the Bank took on an expanded role as the specialized bank for rural
development by providing financial services to farmers, fishermen,
community enterprises and dairy farming communities, Government and
private sector employees including mobilizing deposits and providing
RDB Bank has the largest asset base valued at Rs 46 billion, largest
deposit base of more than Rs 36 billion, highest profit base amounting
Rs 1.3 billion before taxation among specialized development banks and
continues to retain the BBB+ rating coupled to a stable outlook awarded
The Bank has improved credit service to needy people showing a credit
outstanding at Rs 37 billion as at November 30, 2010 recording a 27
percent growth far above the national level recognizing the Mahinda
Chinthana concept of "access to credit as a basic need."