Sarvodaya Development Finance clinches Compliance Award at 52nd Annual Report Awards

Friday, 16 December 2016 00:00 - - {{hitsCtrl.values.hits}}

Sarvodaya Development Finance, the pioneer in microfinance in Sri Lanka bagged the Compliance Award in the finance companies and leasing companies sector at the 52nd Annual Report Awards 2016 which was organised by the Institute of Chartered Accountants of Sri Lanka.

The highly esteemed award ceremony is primarily held to encourage transparency and accountability among business entities that publish annual reports in Sri Lanka and this year was remarkable as a total of 140 organisations participated in the competition, which was the highest number the award has ever seen in the past. Eminent blue chips, renowned conglomerates and other SMEs were among the contenders who competed for the coveted glory.

While speaking of the much coveted honour, Sarvodaya Development Finance Chairman Channa de Silva said, “We are extremely thrilled to be the recipients of this prestigious award for the second consecutive year, the judging process involves several chartered accountants thoroughly studying the annual reports and evaluating based on the standard of communicating business objectives, highlights, performance milestones, personnel and management comprehensively to the target audience. As a rapidly growing organisation in the micro finance and SME sector, this award encourages us to continue being a catalyst in creating an economically progressive society, living in dignity and fostering development by fulfilling expectations of all stakeholders which is the primary objective of Sarvodaya Development Finance.”

The Sarvodaya Development Finance Ltd. evolved from deep rooted commitment to nation building and development along the ‘grass roots’ model of its parent, the Sarvodaya Movement. The company has evolved over the past years and diversified its services primarily to empower the mass community and enrich their lives further. Commencing its services as a micro finance company providing finances to the micro sector Sarvodaya Development Finance has now ventured into the SME finance, Vehicle leasing and Personal loans services in order to cater to a larger target market with diverse needs.

This business diversification has enabled the organisation to support their existing customers who have evolved into SMEs and also new businesses that are deprived of growth due to the lack of a financial support system. The organisation takes pride in their efficient service, reliability, flexible working terms and minimal time frame required for processing as their unique selling points and stand out among the other players in the finance industry.

Sarvodaya Development Finance is the pioneer in microfinance in Sri Lanka and provides finance to micro and SME sector in the country. The company has 30 branches and 28 customer service centres spread over the island covering all districts and has an employee base of almost 600, serving the company.