NDB continues to strengthen the SME's, cottage industries
The National Development Bank's (NDB) corporate mission 'to be
dominant in the financial services sector, creating superior long-term
shareholder value and contributing to economic development in Sri
Lanka...' remains true to its roots even today, as it stays committed to
fulfil its mission towards the nation, while creating long lasting
relationships with its stakeholders.
The Bank's island-wide branch network and numerous partner outlets
that form its growing customer touch points, stand testament to this
unwavering commitment to offer superior service and convenience, while
enabling access to finance for communities around the island.
Today, the country's economic development has spread not only to the
urban and metro areas, but also to rural areas. In line with this
growth, NDB is expanding its branch network, with a focus on rural
economies; enabling access to finance for individuals as well as small
and medium scale entrepreneurs (SME's) who form the backbone of the
emerging economy.
Over the years, SME financing has been an integral component of NDB's
portfolio. It is a proven tool for enabling up-and-coming entrepreneurs
to gain financial stability while changing their lives positively. The
Bank believes in making positive change in Sri Lankan lives, by
providing entrepreneurs with business knowledge, business management
skills and capital to develop businesses and grow the country economy.
Today, NDB's SME operations cater to the varying needs of the sector
with emphasis on a customer focused and cash flow focused lending
approach. NDB also offers medium to long-term infrastructure and project
financing facilities, structured on cash flows and largely financing
through credit lines under concessionary interest rates.
The Bank has enhanced its position as one of Sri Lanka's premier
financial institutions serving SMEs by extending its presence to the
Northern and Eastern Provinces with the opening up of six branches in
this area. Along with its growing branch network, NDB will focus on
serving SME sectors such as fisheries, manufacturing, tourism,
agriculture, commercial transportation, trading, dairy farming, cottage
industries, etc with a view to rebuild the communities, infrastructure
and cottage industries while stimulating post-war economic activity.
In line with its aim to build communities and cottage industries, NDB
deploys its micro finance scheme, 'Divi Aruna' to numerous parts of the
country. The scheme provides the much-needed capital with flexible
repayment terms at an attractive pricing, with convenient
serviceability, while requiring them to put aside a proton of their
income as savings on a monthly basis. The financial inclusion of this
customer sector will help develop social relationships within and across
groups of borrowers and the bank, creating a change in the society.
To date, NDB has touched lives of a multitude of micro scale
entrepreneurs and cottage industries island-wide through its Divi Aruna
scheme. The most recent ventures funded through NDB Divi Aruna include,
agriculture in Bandarawela, clay pots, food supply and dress making in
Kalmunai, cane products and food items in Nittambuwa,fisheries, clay
related products, hand-woven palm bags and sweet meat manufacturing in
Hambanthota, ornamental fish, ornaments and vegetable cultivation in
Aluthgama and ornamental clay products manufacturing in Embilipitiya.
In addition to its financing activities, the Bank also conducts
capacity building programmes in many areas of the country, on the
subjects of book keeping, finance and account maintenance, management
skills, project start-up, entrepreneurship, project funding and SME
financing awareness to name a few. The bank believes that such
initiatives will spur entrepreneurs, and enable them to create
opportunities not just for themselves but also for many others. |