CDB extends operations to Kotahena

The Ceylinco Development Bank (CDB) recently expanded its islandwide branch network to 30, with the latest branch at Sri Ramanathan Mawatha, Kotahena.

The fully fledged Kotahena Branch now joins CDB’s on-line connected branch network across the country to serve both current and potential customers of the area with greater convenience and swifter access to the wide portfolio of services offered by CDB.

Among them are fee and fund based financial services such as leasing, business loans, project financing, trade financing, bills discounting, guarantees, management consultancy services, bancassurance, together with a range of micro financing schemes.

Chairman of CDB R. Renganathan said that the presence of CDB in Kotahena area would support the business community and the public with its innovative financial solutions and will focus on meeting the multitude of financial needs that have tremendous potential.

Elaborating on the structure of regulated financial institutions by Central Bank of Sri Lanka, Renganathan also commented on the progress made by the CDB during the past 13 years and its current financial standing.

As per the company’s un-audited accounts for the Year 2008, total assets grew by 26 per cent to reach Rs. 6.79bn while revenue reached Rs. 1.63bn reflecting a growth of 55 per cent compared to 2007.