National Savings Bank (
NSB) has become a trusted Sri Lankan brand during, and thanks to, the stability of recent years. This reputation has arisen out of, among other things, its special standing as the only local bank to have received an enviable long-term credit rating.
This rating indicates a remarkably positive outlook for investors. As Hennayake Bandara, NSB’s General Manager/CEO emphasizes: “Fitch Ratings has accorded NSB a coveted AAA rating for the ninth consecutive year, making it the first local bank to achieve this milestone. This suggests that we continue to be Sri Lanka’s benchmark for financial soundness.”
Comprising a network of 187 branches – strengthened by over 4,000 post office agents who provide comprehensive deposit and withdrawal facilities – it is hard not to be impressed by NSB’s nationwide reach. And being the third largest bank in Sri Lanka overall in terms of assets and deposits, NSB has been in a position to provide housing loans amounting to Rs 8 billion ($70.2 million) to its customers. It has also excelled in its responsibility to offer products and run schemes that empower and enrich the rural economy, a situation which, in turn, has played no small part in the development of the nation’s burgeoning prosperity program.
Furthermore, NSB’s singular position within Sri Lanka’s financial landscape as the only banking institution whose deposits are fully guaranteed by the government, combined with its relative immunity to international financial problems, mean that, in the words of its Chairman,
Pradeep Kariyawasam, “The National Savings Bank has become an active player in foreign investment policy by acting as a facilitator for foreign investors.”
Mr. Kariyawasam has further high hopes for the institution in 2012: “The National Savings Bank was established in 1972. On March 16 we celebrate our 40th year. The main objective is to enable and assist all Sri Lankans in saving and developing themselves, as well as being a contributor to the country’s economic progress.”
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