New chapter in MBSL's journey

by Lalin Fernandopulle

MBSL Savings Bank has gained investor- confidence and stability, said Central Bank Deputy Governor D. D.W. Ananda Silva at ceremony to relocate the corporate Head Office and main branch of MBSL Savings Bank.

Central Bank Deputy Governor D.D.W. Ananda Silva lights the oil lamp at the inauguration of the new Head Office. MBSL Savings Bank Chairman M.R. Shah looks on. Pix: Ruwan de Silva

MBSL Savings Bank, a subsidiary of Merchant Bank of Sri Lanka (MBSL) moved to T.B. Jayah Mawatha (Darley Road) recently.

"The Bank has come a long way through thick and thin to be what it is today. It should strive to be a leading bank in the country," Silva said. With an asset base of Rs. 2.4 b and a lending base of around Rs. 2 b, MBSL Savings Bank offers sought after products and services to the country.

The bank has withstood many obstacles and has been under the protective wings of MBSL, a subsidiary of Bank of Ceylon. MBSL Savings Bank operates 12 extension offices and has over 50,000 customers across the country. The bank hopes to set up branches in the North and the East to expand its foot print in the country.

"All offices have been re-furbished and four of them were relocated to more convenient locations in Kurunegala, Galle, Kalutara and Kottawa. Savings and deposits are the core businesses of the bank which also finances the small and medium enterprises in line with the government's policy of developing the SME sector", he said.

MBSL Savings Bank Chairman M.R. Shah said that the expansion of services finances entrepreneurship projects and boosts GDP growth.

"Today's relocation marks a new chapter in the bank's journey to achieve excellence. We have embarked on a new journey to provide the best service to our customers and contribute to the economic growth of the country," Shah said.

MBSL Savings Bank CEO and General Manager Lloyd Peiris said that with the new state-of-the-art design and technology the bank has brought a team of seasoned professionals whose diverse expertise and dynamism sets them a part.

"We offer businesses, individuals and families a comprehensive range of financial products and services of banking investments and lending," Peiris said

MBSL Savings Bank has the support and stability of the Merchant Bank and the Bank of Ceylon. It is a Licensed Specialised Bank approved by the Monetary Board of the Central Bank.