Sanasa Development Bank obtains approval to list on CSE

Indunil Hewage

Sanasa Development Bank has obtained the approval to list on Colombo Stock Exchange( CSE) and 25,175,322 ordinary voting shares will be listed on the main board of the CSE subject to the compliance with Rule 2.1.2 of the Listing Rules of the CSE. The listing would be done by a way of Introduction.

Shares of the company will commence trading from May 31 and would be classified under the bank, finance and insurance sector.

Sanasa Development Bank is one of the leading banks in Sri Lanka that is committed to uplift the standards of living for low income Sri Lankan families with its range of micro finance activities.

The mission of the bank is to develop and maintain a permanent customer base while introducing innovative, cutting edge financial products while expanding the bank’s existing outreach through the available network and use of modern technology in the banking sector.

The bank was also 2008’s winner of the Business Excellence Award, presented by the National Chamber of Commerce Sri Lanka, and adjudged the top Sri Lankan company and placed second among microfinance institutions in the world in 2009, by Mixed Market Ratings.

SANASA Development Bank was adjudged the top Sri Lankan company and placed among the first 50 out of 641 micro finance institutions in the world in 2007 and third out of the 652 micro finance institutions in the world in 2008 by Forbes Magazine.