ADVERTORIAL

NSB’s journey with people for 39 years

National Savings Bank (NSB), was established 39 years ago on March 16, 1972 with the objective of ‘promotion of savings among the people of Sri Lanka, particularly among those with limited means, and the profitable investment of savings so mobilized.’

The founder of the bank Dr N M Perera told the Parliament in presenting the draft bill that the proposed bank will inculcate the habit of savings in the minds of the people, especially those in rural areas and thereby draw a portion of the money in their hands which would otherwise be spent on various other activities.

Hennayake Bandara

Since then National Savings Bank (NSB) has flourished into one of Sri Lanka’s premier savings banks instrumental in promoting the habit of savings and thrift in the people and thus paving the way for individuals’ as well as the country’s development. Today, marking the 39th milestone of its journey with the people of the country, NSB stands tall among the banking giants with 16.3 million accounts, Rs 403 billion assets, Rs 355 billion deposits and Rs 76 billion retail lendings.

‘Our objective is to mobilize people’s deposits and give back to them in the form of credit so that their money is invested in their own soil,” said NSB, GM and CEO Hennayake Bandara.

Year 2010, declared as ‘the Year of Change’ by the Bank on account of the recovery of global as well as local economy after financial crisis, new Government with strong political stability, development projects embarked by the Government, proliferation of startup businesses and more importantly the new leadership of the bank, was indeed a turnaround year for the bank. While the country experienced an accelerated economic growth, the peace dividend served as a launching pad for the Bank to deliver remarkable financial performance for the year 2010.

The bank not only expanded its business activities at an accelerated pace during the year but also enhanced its products and services and expanded its network with special focus on rural, unbanked segments. The Bank opened 29 branches totaling the branch network to 186 in fulfilling its prime objective of financial inclusion. Even under low interest rate regime, the bank recorded unprecedented growth in its income passing the benchmark of Rs 50 billion. The bank also recorded new savings of Rs 42 billion bringing the deposit base to Rs 355 billion.

NSB created history by contributing Rs 2.6 billion dividends to the Treasury for the year 2010, which was the highest ever dividends paid by a bank to the Treasury. The bank’s total contribution to the Govt. exceeded Rs. 10 Bn passing yet another benchmark. The bank also granted loans to the customers for housing, agriculture and self-employment purposes and in 2010 alone the bank disbursed housing loans amounting to Rs eight billion, recording a growth of 120 percent.

‘Our outstanding financial performance for 2010 can be attributed to a number of measures introduced to the bank during the year such as re-structuring of committees and formulation of charters, prioritization of risk and compliance, launch of corporate image-building campaign, streamlining of appointment of Branch Managers and implementation of staff transfer policy, enhancement of visual appeal of the outlets, aggressive expansion of network and launch of a joint savings product with Sri Lanka Post,’ said the CEO.

NSB’s 39th anniversary falls in such a favourable backdrop and celebrations seem unavoidable. The bank has planned to conduct several events and activities such as conducting religious activities at all branches and Head Office, opening of new branches and refurbishment of existing branches to mark the 39th year of dedicated service to the people of the country. ‘Although 39th anniversary is not as significant as for instance, the 40th or 50th anniversaries, it is important to celebrate each and every millstone of our journey with the people of the country, for whose sake National Savings Bank was established and who remain loyal to us to date,’ the CEO said.

With ever improving macroeconomic conditions, the bank is well poised to capitalize on the numerous opportunities presented by the post-war economic growth. The strategic business plan for the next three years (2011-2013) will deliver the expected results through successful implementation of initiatives like penetration into the bottom-of-the-pyramid, channel optimization, information communication technology, enhanced corporate image and brand equity, branding and marketing communication and diversified product portfolio, not to forget the Bank’s internal vision ‘to be Sri Lanka’s Best Bank by 2012’ in which year the Bank will mark its 40th anniversary.

‘The outlook for the bank remains positive and by positioning NSB to continue to contribute to the economic growth and through our commitment to ethical practices and transparency, we look forward to continued sustainable expansion in the years to come,’ said the CEO.

Multilac rewards winners with Singapore savari

The winners of Multilac Dollar samaga Singapore savari promotion were recently feted by the company’s officials at a special event before they left Sri Lanka on their trip to Singapore.

The competition offered a tour to Singapore inclusive of two return air tickets for two nights and three days. Shopping money of US $ 500 was also included in the package. Customers who purchased four litres of Multilac Emulsion, Weather Guard or Non Yellowing White Enamel were invited to participate in the competition by filling out a coupon.

The competition drew a tremendous response from Multilac’s large base of customers islandwide. On February 23, Multilac officials led by Business Development Head Nilrukshi de Silva and Sales and Marketing General Manager Ramesh Perera feted 96 lucky winners who were invited to Hotel Full Moon Garden Katunayake, before they were taken to the airport for their flight to Singapore.

Perera told the customers that there is still an opportunity for them to visit Singapore. The next phase, the New Year Seasonal Savari has already being launched on February 15, 2011. He said that Multilac’s 450 colour bank points available throughout the country offered an extensive service to customers, assuring them of a very wider range of colours. Nilrukshi de Silva said that the promotion was staged with the goal of enabling more customers to experience Singapore, a wonderful tourist destination. She said that the competition carried more meaning since it came at a significant point when the company was in sight of its 30th anniversary.

Known as Dollar samaga Singapore savari, Multilac customers were selected as winners in the competition which included two return air tickets for each couple, resulting in a total of 96 participants, food and lodging for two nights and three days in Singapore together with US $ 500 as shopping money.

The competition, gave all Multilac customers the opportunity to experience value addition every time they purchase selected Multilac products, de Silva said.

Multilac is Sri Lanka’s largest exporter of paints and surface coatings and exports to the UAE, India, Pakistan and the Maldives. Multilac products are researched and developed in their state-of-the-art R & D facility and meet the highest quality standards.

Micromax fans meet Bryan Adams in Hyderabad

Micromax Informatics Limited (Micromax), which is the largest Indian domestic mobile handsets company, in terms of units shipped during the quarter ended March 31, 2010 and the third largest mobile handset seller as at March 31, 2010 (Source: IDC’s India Quarterly Mobile Handsets Tracker, 1Q 2010, June 2010 release), granted ten winners from across Sri Lanka the opportunity to not only experience rock legend Bryan Adams live in concert but also meet him in person.

Winners with Bryan Adams

Micromax, as the title sponsor to the ‘Bryan Adams live in concert - India tour’ travelled across Pune, Mumbai, Bangalore, New Delhi and Hyderabad.

The ten winners selected through a special competition by Micromax earlier this year includes Gihan Subasigha, Chalaka Liyanage, Avantha Shashimal, Madawa Madushanka, Chaminda Kariyawasam, Mohan Rodrigo, Nishad Fernando, Nishantha, Tharidu Ferdinando and Keshan Fernando.

Speaking on their experience, one of the winners Gihan Subasigha said “It has been a lifelong dream of mine to watch a performance of Bryan Adams on an international stage. I never expected to meet him in person, but Micromax made it happen not just for me but to all the winners of this competition.”

The competition launched a few weeks prior to the concert required that the Micromax customer send in a message with the handsets’ IMEI number (International Mobile Equipment Identity), a code found on every mobile.

The Sri Lankan winners were to attend the Delhi concert but it was unfortunately cancelled due to heavy rains. Not wanting to disappoint its customers Micromax flew the lucky winners to Hyderabad where the next concert was to be staged, all expenses paid.