Question 1

What is Sri Lanka Savings Bank?

Accepted Answer

Sri Lanka Savings Bank (SLSB) is a state-owned licensed specialised bank in Sri Lanka that focuses on microfinance and small and medium enterprise (SME) banking services. As a fully-owned subsidiary of National Savings Bank (NSB), SLSB is regulated by the Central Bank of Sri Lanka under the Banking Act No. 30 of 1988.

The bank positions itself as the "Jana Hadin Janitha Bank" (the bank nurtured with Sri Lankan spirit), emphasizing its commitment to serving rural communities and fostering savings habits among low-income populations. SLSB operates with a clear focus on financial inclusion and community development.

Question 2

When was Sri Lanka Savings Bank founded?

Accepted Answer

Sri Lanka Savings Bank was established in July 2006 as a private limited company under the Banking Act No. 30 of 1988 and incorporated under the provisions of the Companies Act. The bank obtained its license to operate as a specialised bank from the Central Bank of Sri Lanka in 2006.

However, SLSB officially commenced banking operations on March 10, 2008. A significant milestone occurred in 2010 when the bank merged with the National Development Trust Fund (NDTF) Company on September 30, 2010, which helped address capital deficiency issues. In October 2019, the National Savings Bank officially took over Sri Lanka Savings Bank as a fully-owned subsidiary, strengthening its operational and financial position.

Question 3

Where is Sri Lanka Savings Bank headquartered?

Accepted Answer

Sri Lanka Savings Bank is headquartered at No. 265, Ward Place, Colombo 07, Sri Lanka. The registered office serves as the central hub for the bank's operations and management activities.

The bank can be reached at telephone numbers 011-2691721-2 and 011-2674700/1/2/3, with fax numbers 011-2674705/6/7. The email address for general inquiries is info@slsbl.lk.

Question 4

Where does Sri Lanka Savings Bank operate?

Accepted Answer

Sri Lanka Savings Bank operates throughout Sri Lanka with a particular emphasis on rural areas and underserved communities. The bank has established a presence in various provinces across the island, focusing on regions with higher poverty incidence and limited access to formal banking services.

Through a strategic partnership with Epic Lanka, SLSB has implemented a branchless banking network that transforms over 340 divisional secretariat offices across Sri Lanka into mini bank branches. This innovative approach enables the bank to reach grassroots-level customers in remote areas where traditional brick-and-mortar branches may not be economically viable. The bank's distribution network is specifically designed to serve the microfinance and SME sectors in both urban and rural regions.

Question 5

What services does Sri Lanka Savings Bank offer?

Accepted Answer

Sri Lanka Savings Bank offers a range of financial services tailored to low-income individuals, micro-entrepreneurs, and small and medium enterprises. The core services include:

Deposit Services: Savings accounts and deposit products designed to encourage savings habits among Sri Lankan citizens, particularly in rural communities.

Lending Services: Microfinance loans, SME financing, and income-generating credit facilities targeted at micro-entrepreneurship and small business activities. The bank works with the Regional Development Department of the Central Bank of Sri Lanka to provide low-cost refinance facilities under the "Swashakthi" credit scheme.

Digital Banking: Through the Epic Mobile Branchless Banker Solution (eMBBS), SLSB offers mobile banking services that enable bank-appointed agents to perform transactions in remote locations. This platform supports loan collections, group attendance marking, account opening, and receipt generation through wireless connectivity.

Agent Banking: The branchless banking platform allows agents to deliver banking services at customers' doorsteps, facilitating transactions even in areas with low or no mobile coverage through offline functionality.

Question 6

What makes Sri Lanka Savings Bank unique?

Accepted Answer

Sri Lanka Savings Bank distinguishes itself through several unique characteristics that set it apart in the Sri Lankan banking landscape:

Microfinance Specialization: Unlike general commercial banks, SLSB has positioned itself exclusively as a microfinance and SME-focused institution. Its vision statement explicitly declares its aim to become the "Most Preferred Microfinance & SME Bank" in Sri Lanka.

Branchless Banking Innovation: SLSB has pioneered the implementation of branchless banking technology in Sri Lanka through its partnership with Epic Lanka. The bank has transformed 340 divisional secretariat offices into digital banking touchpoints, significantly expanding financial access to underbanked populations.

Rural Community Focus: The bank's mission emphasizes serving rural communities and promoting financial inclusion at the grassroots level. This social banking approach aligns with national development objectives while addressing the needs of economically vulnerable populations.

State Ownership with Social Mandate: As a fully-owned subsidiary of National Savings Bank and a state institution, SLSB operates with a national responsibility to improve the lives of Sri Lankans at the grassroots level, balancing commercial viability with social objectives.

Last-Mile Reach: Through mobile teller solutions and agent banking networks, SLSB can deliver financial services directly to customers in remote areas where physical branch presence would be impractical or uneconomical.

Question 7

What type of financial institution is Sri Lanka Savings Bank?

Accepted Answer

Sri Lanka Savings Bank is classified as a Licensed Specialised Bank under Sri Lankan banking regulations. This institutional category is distinct from Licensed Commercial Banks and represents financial institutions that operate with specific mandates or focus areas approved by the Central Bank of Sri Lanka.

Licensed Specialised Banks in Sri Lanka are authorized to conduct banking business under the Banking Act No. 30 of 1988 but typically focus on particular market segments or types of financial services. In SLSB's case, the specialization is in microfinance and SME banking, with a mandate to uphold savings habits and facilitate micro-finance and SME networks throughout Sri Lanka.

As of March 2025, there are six Licensed Specialised Banks operating in Sri Lanka, with SLSB being one of them. The bank is regulated and supervised by the Monetary Board of the Central Bank of Sri Lanka, ensuring compliance with prudential standards and banking regulations. The bank is audited by the Auditor General of Sri Lanka, reflecting its status as a state-owned financial institution.

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About Sri Lanka Savings Bank in Sri Lanka