RDB to consolidate stance

Indunil Hewage

Regional Development Bank (RDB) is ready to zoom its approach across the country with new products, branches to be introduced in the coming years and will further deepen its relationship with the rural community.

The newly appointed RDB Chairperson Keshala Jayawardena emphasized the importance to empower the rural community thereby giving them holistic banking solutions to come out of poverty. The future strategy of RDB would be to have a better rapport with the government and the relevant institutions to assist agriculture and fisheries sectors in Sri Lanka.

Accordingly, RDB is expected to play a vital role in providing financial assistance to develop the government initiated projects such as rice and grain export villages, Divi Neguma and handicraft and handloom sector projects.

The RDB which counts over 253 branches with over three million clients base and it is the third largest bank in Sri Lanka in terms of number of branches. RDB has already received the Central Bank approval to put up another 20 branches in identified areas in the country.

RDB will follow a door to door marketing campaign to broaden the savings percentage among local farming community, in addition, planting materials and machineries will be supplied to them under a special loan and low interest rates.

The total deposit of RDB stands at Rs 59 billion, of which almost 95% are issued as lending for its clients, it also maintains a non-performing ratio of three percent and it was expected to bring it down up to 2.7 % by the end of last year.

RDB has been advised by the Central Bank to raise Rs 4 billion capital target in 2014, however, the RDB is optimistic about reaching Rs 6 billion capital target by 2014.