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Thursday, 25 August 2011






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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 54.

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 product portfolio.

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 island wide.

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 Litro Gas.

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 Lanka.

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 outlets islandwide.

SDBL launches special deposit

The Sanasa Development Bank Ltd, (SDBL) has launched a special SDB deposit scheme to commemorate their 14th anniversary.

Samadani Kiriwandeniya

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," she said.

Sanasa is synonymous with the Sri Lankan banking sector and over the years it has won many local and international accolades for their success.

"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 said.

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 worldwide.

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.


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