Wayamba Development Bank increases customer base

THE Wayamba Development Bank (WDB) total deposits have increased to Rs. 2,640 million from Rs. 1,766 million in 2003, while its customer based too has increased.

Chairman WDB, P. G. Jayathunge said it their 2004 annual report said that the total loan portfolio of Rs. 3,498 million this year records on increase of 38 percent over the previous year's total of Rs. 2,540 m.

In the process of making credit expansion, priority has been given for the implementation of short and medium term credit schemes under poverty alleviation.

In Kurunegala district 663 villages were surveyed to form 1956 groups eligible for credit and disbursed Rs. 126.5 million to 9435 beneficiaries in the groups.

Likewise in Puttalam district 427 villages were surveyed to form 1589 groups and disbursed Rs. 223.6 million among 8443 beneficiaries income group for the empowerment of this sector.

It is also worthwhile to mention that Rs. 128.1 million was collected through the voluntary deposit mobilisation campaign organised in June, July and August 2004 with the co-operation of Ceylon Bank Employees' Union.

Selling 62330 Sithumina savings certificates and opening 210 Dayada accounts, 107 pension accounts, 1037 savings accounts and 368 fixed deposits.

The dedication and enthusiasm of the staff in achieving the above targets for deposits and advances deserve a word of appreciation.

The bank is also happy to announce that 19515 self employment opportunities have been arranged inclusive of the strengthening of certain existing employments.