SANASA Development Bank was created to become the apex financial institution of SANASA’s banking system. The bank was created in 1997 with the capital mobilized from the cooperative movement under the leadership of the SANASA Federation.  The Bank was a product of a journey undertaken by 56,000 volunteers affiliated to one vision to create an alternative financial system in Sri Lanka.  It was created to engage in the open market on behalf of the cooperative network, to attract funds, and create products to serve the financial needs of SANASA’s island-wide membership. The influence of its cooperative roots has been strong from the outset, and SDB today has been recognized as one of the fastest-growing SME finance banks in Sri Lanka.

The Bank has special programmes for women, youth, and small businesses and partners with private and public institutions to provide non-financial services to these customers. The Bank was recognized as the ‘2nd Best Microfinance Institution in the World – 2010’ by Mix Market Global, USA. It was adjudged ‘The Fastest Growing MSME Bank in Sri Lanka – 2018’ by the Global Banking & Finance Review, UK.

In 2017, SDB Bank’s reach expanded considerably upon receiving a capital injection of USD 22 Million through a combined investment from three top-tier global organizations: the International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO), and SBI Holdings.  The bank has shown steady growth and a clear strategic path to deliver on the expectation of its founding shareholders. The acquisition of the digital payments app UPay by SDB bank in mid-2019 represents a continuation of its emphasis on innovation, providing both its urban and rural customers an array of mobile payment options, lifestyle conveniences, and POS services.

SDB Bank continues to effect visible change at the rural and grass-roots levels, and consequently Sri Lanka’s socio-economic progress as a whole by leveraging on its strong cooperative heritage and its current network of branches islandwide.

Website Link: www.sdb.lk