CDB surpasses Rs.200bn asset milestone

Alastair Corera

Mahesh Nanayakkara

Citizens Development Business Finance PLC (CDB) reported another year of strong financial and operational performance for the financial year ended March 31, 2026, surpassing the landmark Rs.200 billion asset milestone while recording profit after tax (PAT) of Rs.4.5 billion, reinforcing its position among Sri Lanka’s leading non-bank financial institutions.

The company’s total assets expanded by 37 percent to Rs.214.7 billion, while its lending portfolio grew by an impressive 53 percent to Rs.169.2 billion, supported by the new disbursements exceeding Rs.110 billion during the year. 

Gross income increased by 18 percent to Rs.30.2 billion, with profit before taxes rising to Rs.8.2 billion and PAT increasing by 12 percent to Rs.4.5 billion.

The board of directors declared a total dividend payout of Rs.1.25 billion for the financial year, a 16.67 percent increase over the prior year, comprising an interim dividend of Rs.7.50 per share (pre-subdivision) and a final dividend of Rs.1.00 per share on the subdivided capital. 

The board also completed a one-for-10 share subdivision of both voting and non-voting shares in April 2026, aimed at broadening market accessibility and liquidity.

The year also saw a significant improvement in asset quality, with the net nonperforming loan ratio improving to 1.53 percent, from 3.1 percent in the previous year, reflecting disciplined credit underwriting, enhanced portfolio monitoring, automated credit decision-making and a more stable economic environment.

Chairman Alastair Corera stated, “The achievements recorded during FY2025/26 are not merely the result of favorable market conditions but the outcome of deliberate strategic execution, disciplined governance and years of investment in strengthening our capabilities. Having surpassed the Rs.200 billion asset milestone, CDB is now firmly positioned to achieve its next strategic growth phase.”

Corera further highlighted that CDB’s diversified funding strategy, strengthened risk management framework and continued commitment to sustainability have enhanced the company’s resilience while enabling uninterrupted balance sheet expansion.

Managing Director and Chief Executive Officer Mahesh Nanayakkara described FY2025/26 as one of the most significant years in CDB’s history.

“When we commenced our transformation journey over two decades ago, CDB was an institution with an asset base of less than Rs.1 billion. Today, we stand as a Rs.214 billion institution, with a strong financial position, diversified funding sources, improving asset quality, scalable digital capabilities and a clear roadmap for future growth.”

He noted that while scale remains important, the company’s next phase of evolution would increasingly focus on improving profitability, enhancing capital efficiency, strengthening returns and creating superior long-term value for the stakeholders.