Sarvodaya launches Deshodaya finance company
Deshodaya Development Finance Company Limited, (DDFC) a brainchild of
the Sarvodaya Trust was launched recently making it the latest entrant
to the financial services sector in the country.
Based on the philoshopy of Sarvodaya which accounts for 55 years of
social and community service, the DDFC which encompasses the focus of
Sarvodaya Sansadaya, will have 30 fully fledged branches and 32
extension offices covering the entire country.
The organisation will be a role model depicting good governance and
transparency, DDFC Chairman Dr. Vinya Ariyaratne said.Sarvodaya has
3,000 societies islandwide with a membership of over 800,000. With a
deposit and loan base of Rs 5.4 billion, it will play a dominant role in
fulfilling the financial needs of its members and customers.
As a company, DDFC understands the hardships of the people who strive
to succeed through sheer hard work and determination.
It has chosen to adopt a philosophy firmly rooted in Buddhist
teaching that envisions a sustainable future for all Sri Lankans, he
The company's diverse portfolio of financial products include
savings, fixed deposits, housing loans, microfinance, project finance
and term loans. With a focus on uplifting the living standards of the
people who find it difficult to access banking facilities, the core
business approach of DDFC will be on the agriculture sector.The company
asset base exceeding Rs 8 b will enable it to mobilise the necessary
funds.The founder of the Sarvodaya Movement, Dr. A,T. Ariyaratne made
the first deposit to mark the opening of DDFC.