SANASA Development Bank steps into 19th year

30 August 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

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The SANASA Development Bank a pioneering financial institution founded on supporting the grassroots levels of Sri Lanka just celebrated its 19th anniversary. 
Sanasa which began operations in August 1997 as a licensed specialized bank approved by the Central Bank of Sri Lanka and the Ministry of Finance,  has since made a significant contribution towards improving the lives of thousands 
of people.
The aim of SANASA Development Bank is to assist in formulating sustainable livelihood programs for the people of this country through development oriented financial services, in order to eliminate poverty. This ground breaking vision resulted in the bank setting an example hereto unseen in the financial sector of this country.  Founder of SANASA Development Bank, Dr. P.A.Kiriwandeniya, who owes his life`s success to courage, determination and dedicated work, led the bank from its inception upto his retirement in 2011. 
With his vast experience in the field of finance and understanding of the rural sectors, he steered the bank on firm course, with a clear vision and objective that was based on people development. The success the institution has achieved and the impact it has made on livelihoods is clear proof of accomplishing 
this objective.
Explaining the evolution of the bank, General Manager/Chief Executive Officer, Nimal C. Hapuarachchi said, “The SANASA Development Bank did not commence as a state or private bank. It is truly a people’s enterprise to fulfil the needs of the people and with the participation of the people. Therefore, the services of the bank were those that sought to fulfil the real needs of the people. The full confidence and acceptance of the public followed as a matter of course. We take great pride in our successful journey of 19 years, serving the people and growing daily. It is our aim to provide a greater service to the people by introducing more and 
more services.”
The SANASA Development Bank was formed with capital of Rs. 123 million which was fund builtby the SANASA Movement. Having begun operations with one branch and a limited staff, it is today a wide network with 88 branches island-wide and a staff of over 1,200.
Among the services provided to the public by the SANASA Development Bank are the SDB Standard Savings Account, the Lakdaru Savings Account, the SDB Dayada, the Jawaya Savings Account, the Dashaka Savings Account, the Uththamavee Savings Account and the Upahara Savings Account. Savings Accounts specially dedicated to serve the needs of Co-operative Banks, fixed deposits, loan facilities and Visa Debit Cards are other services provided by the bank. Backed by the confidence of the people who over the years have benefited from these services, the bank has partnered with the government in implementing several development projects. Currently, the Ministry of Industry & Commerce, the Ministry of Law & Order Southern Development, the Small Enterprises Development Bureau, the Ministry of Mahaweli Development and Environment, the National Enterprise Development Authority, theMinistry of National Policies and Economic Affairs, the Ministry of Public Administration and Management and the Ranaviru Seva Authority provide the impetus for the forward march of the SANASA Development Bank.
There are also several international partners who have appreciated its efforts and joined hands with the SANASA Development Bank. It is at present engaged in taking the necessary steps to implement the “Quantum Leap” project in association with theInternational Finance Corporation (IFC), the private sector investment institution of the World Bank, to increase efficiency and further streamline consumer services. While a massive investment was made for this purpose at the beginning of 2016/2017, all stakeholders will be able to experience the benefits of these investments from 2017 onwards.
To commemorate its 19th anniversary, the SANASA Development Bank has introduced special interest rates for their 
fixed deposits.

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