Connect with us

Business

SDB bank set to boost SMEs and women entrepreneurship nationwide

Published

on

Securing LKR 7.5 billion term loan facility from U.S International Development Finance Corporation (DFC)

The United States International Development Finance Corporation (DFC) has approved a USD 40 Million (Rs. 7.5 Billion) term loan facility to SDB bank in a bid to promote financial inclusion, resulting in more support to SMEs, particularly female-owned Small and Medium Enterprises. This comes as part of the financing recently approved by the DFC board to advance development in emerging markets of African, Middle Eastern, Eastern European, Indo-pacific, and Latin American regions.

United States International Development Finance Corporation (DFC) is a U.S. Development Bank specializing in providing financial support to private sector partners in developing markets. Promoting financial support to SMEs and women entrepreneurs in these markets is a key focus area for the bank. SDB bank was selected for the loan primarily due to its innovative business model that takes a progressive approach to development, with an emphasis on financial empowerment and SME development. In fact, 40% of the loan facility is reserved exclusively for women with the remaining 60% being allocated to SMEs in general. The bank’s commitment to these forward-looking policies is evident in their specialized products for female-owned SMEs which include Uththamavi, a special investment scheme for women and a general SME loan offering.

The investment loan approval granted by DFC comes at a critical time and is the first in over 7 years. The loan also comes with a series of other value additions including a Capacity Development Programme, which gives bank employees access to modern technology and know-how. This invaluable resource is then passed on to the customer, which enables them to grow their enterprise, as their hard work is directed by strategic thinking and professional business insight.

Speaking about this monumental opportunity, Thilak Piyadigama, CEO, SDB bank had this to say, “DFC is known for financing solutions which have helped overcome some of the most critical problems across the developing world. This loan comes at a time when the country needs financial support and gives us the chance to get our economy back on track faster. As always we will be giving the SME sector our full support. This loan will go a long way towards ensuring a more self-sufficient country, where hardworking Sri Lankans, who are the engine of progress, realise their financial ambitions. We are also focused on utilising these funds to create a new era of financial freedom and empowerment for female entrepreneurs”.

By uplifting SMEs and encouraging the spirit of entrepreneurship SDB Bank continues to create opportunities all over the island. These initiatives create jobs, ensure local communities are uplifted, and enable Sri Lankans to enjoy a better quality of life by giving them access to higher wages. They help safeguard the rights of workers, the preservation of the environment, and continually support SME empowerment. This development is essential for the country to remain competitive on a global scale. These initiatives also guarantee critical investment happens at the right time for maximum developmental impact. SDB bank shares these developmental goals and is honoured to lead the way for a new era of progress and prosperity.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Business, economic heavyweights converge in Colombo

Published

on

Senior business leaders, economists and international development experts, alongside the Prime Minister of Sri Lanka, will headline the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12 and 13 October at the Shangri-La Colombo.

The Summit will open with a keynote address by T. Krishnakumar, Chief Executive Officer, Reliance Consumer Products Ltd, who brings more than four decades of experience in the consumer brands and FMCG sectors. Having previously served as President of Coca-Cola India and Southwest Asia, with extensive experience in building businesses and driving growth across emerging markets, Krishnakumar, more popularly known as Kk, now leads Reliance Consumer Products as it expands across categories and builds new customer, partnership and market opportunities.

Day 2 will bring together four international perspectives across discussions on economic resilience, regional connectivity, sector growth and digital transformation.

Lilia Aleksanyan, Senior Country Economist for Sri Lanka at the Asian Development Bank, will open the day’s discussions with a focus on Sri Lanka’s economic resilience. Her work covers the country’s macroeconomic outlook, policy advice and macro-fiscal and financial-sector reform. Her international policy experience also includes roles at the French Ministry of Finance and the French Central Bank.

The Summit will then turn to Sri Lanka’s connections with regional markets, with P. D. Singh, Chief Executive Officer, India & South Asia, Standard Chartered Bank, delivering the keynote for the session on trade corridors and value chains. Singh counts close to three decades of experience in banking and finance, with senior leadership roles spanning Standard Chartered, JPMorgan Chase Bank and HSBC.

The Sector Deep Dives will bring international perspectives to discussions on healthcare and energy.

Tushar Shroff, Chief Financial Officer, Zydus Lifesciences Ltd, will deliver the keynote for the healthcare discussion, drawing on more than three decades of experience in corporate finance, strategic investment and financial transformation. His career spans senior finance and leadership roles with ABB, Piramal Healthcare, Intas Pharmaceuticals and Vedanta Group, giving him a broad perspective on the business and investment decisions shaping the healthcare sector.

For the energy-focused deep dive, Edore Onomakpome, Regional Infrastructure Industry Manager for Bangladesh, Sri Lanka and Nepal at the International Finance Corporation, will bring extensive experience in infrastructure investment and project finance across emerging markets. Since joining IFC in 2013, she has held senior roles across Africa and South Asia, including managing IFC’s infrastructure portfolio across 16 countries.

The Summit will conclude its keynote programme with Prime Minister Dr. Harini Amarasuriya, who will deliver the keynote for “Nation Building in the Digital Age.” The Prime Minister also oversees the Ministry of Education, Higher Education and Vocational Education, bringing a direct policy perspective to discussions on digital transformation, innovation, education and the skills needed for a changing economy.

Together, these perspectives will bring regional, international and policy insight to SLEIS 2026 as Sri Lanka considers how to strengthen economic resilience, attract investment, deepen regional connections and develop new sources of growth.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” SLEIS 2026 will take place on 12 and 13 October 2026 at the Shangri-La Colombo.

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Microsoft Sri Lanka (Pvt) Limited, Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations for SLEIS 2026 are now closed. The Ceylon Chamber looks forward to welcoming participants to the discussions on Sri Lanka’s future trajectory on 12 and 13 October.

Continue Reading

Business

Commercial Bank launches ‘Prestige’ banking for HNW clients

Published

on

Sharhan Muhseen, Chairman of Commercial Bank flanked by Sanath Manatunge, Managing Director/CEO and Hasrath Munasinghe, Executive Director/Chief Operating Officer at the launch of Commercial Bank Prestige Banking

Commercial Bank of Ceylon has launched ‘Prestige’, a three-tier banking proposition aimed at high-net-worth (HNW) clients, combining wealth management, advisory services and lifestyle benefits.

The initiative replaces the bank’s existing ‘Elite’ private banking brand with Ruby, Sapphire and Diamond tiers, designed to cater to customers according to their wealth profiles and banking relationships.

The bank said Prestige would provide dedicated relationship managers, priority branch services, preferential rates on loans and deposits, enhanced card privileges, family banking programmes and offshore account solutions.

Its wealth and investment management services include access to capital-protected income solutions, dual-currency investments, institutional deals and estate and portfolio governance.

Clients will also have access to specialist financial and corporate advisory services, including assistance with international relocation, overseas property and capital repatriation.

The programme includes lifestyle benefits such as VIP airport lounge access, travel concierge services, property management and medical coordination, as well as access to selected art and culinary events.

The bank said its flagship Prestige banking residence at R.G. Senanayake Mawatha, Colombo 07, had been refurbished, with the service to be extended to other economically important cities.

Commercial Bank Managing Director/CEO Sanath Manatunge said Prestige was intended to support customers in managing their wealth, business interests, family needs and long-term legacy.

Existing Elite clients are being transitioned to the new programme, the bank said.

Continue Reading

Business

Ceylinco Life rewards 80 sales achievers with overseas tours

Published

on

Ceylinco Life has rewarded 80 members of its sales force with overseas tours to Vietnam and China for their outstanding performance in the company’s 2025 sales competitions.

The group comprised 62 sales achievers who travelled to Vietnam and 18 who visited China.

The Vietnam tour included visits to Hanoi’s Ho Chi Minh Complex, One Pillar Pagoda, Tran Quoc Pagoda and Hoan Kiem Lake. The group also travelled to Ha Long Bay, where they went on an Aurora Cruise and explored attractions including Sung Sot Cave, Luun Cave and Titop Island.

The tour also featured a sunset party aboard the cruise, with music and refreshments.

The 18 achievers who travelled to China visited several of Beijing’s major historical and cultural attractions, including Tiananmen Square, the Forbidden City and the Summer Palace. They also took a boat ride on Kunming Lake.

A highlight of the China tour was a visit to the Mutianyu section of the Great Wall, including a round-trip cable car ride. The group also attended an acrobatic show at Chaoyang Theatre and visited the Panda Garden at Beijing Zoo.

The company said the tours were organised to recognise and reward sales personnel for their performance and achievements.

Continue Reading

Trending