NSB recognised as one of the Most Admired Companies of Sri Lanka

Chairperson Keasila Jayawardana (right) and GM/CEO Ajith Peiris with the Most Admired Companies award

National Savings Bank, (NSB) the premier savings bank in the country, takes pride in announcing that the bank has been recognised as one of the 10 Most Admired Companies in Sri Lanka in 2021 by the International Chamber of Commerce Sri Lanka (ICCSL), in collaboration with the Chartered Institute of Management Accountants (CIMA).

Having established with the original mandate of inculcating the habit of saving among the people of Sri Lanka, NSB has flourished to be one of the strongest and safest financial institutions in the country, firmly rooted in the hearts and minds of the people of Sri Lanka. Being true to its mandate, it is committed to fostering a healthy, sustainable, and secure savings protocol for all people of the nation. NSB is the only Sri Lankan bank with a 100% Government guarantee for its depositors’ money and interest therein, thus being crowning as the safest place for savings of the people. Meanwhile, NSB holds a strong position as a bank, committed to carry out a business in a manner that positively builds the society at large by participating in nation building by funding long-term development projects, and socio-economic projects of the Government.

Navigating the troubled waters of a truly challenging year triggered by the COVID-19 pandemic , NSB took all possible efforts to provide an uninterrupted and continuous service for its valued customers while ensuring its fullest support to the Government and health authorities in responding to COVID-19 successfully.

Recording its highest-ever profit for a period of six months with a Profit Before Tax (PBT) of Rs. 13.9 b and a Profit After Tax (PAT) of Rs. 11 b, NSB shows strength and financial resilience in performance amidst the heightened uncertainty due to the COVID-19 pandemic which has triggered a wide range of shocks on the banking sector and the economy as a whole.

“So, once more, our efforts were rewarded being honoured as one of the 10 Most Admired Companies in Sri Lanka for the first time in its history, not just for our financial performance, but also the value we create for our customers, employees and the wider community in general.”

The ICCSL-CIMA Most Admired Companies list is based on a stringent evaluation conforming to globally accepted criteria by a distinguished panel of judges. The companies were ranked according to quantitative and qualitative criteria.

NSB extends its heartfelt gratitude to all its stakeholders, including dear valued customers for the trust and confidence placed on the bank and staff members, for their utmost commitment, leading the bank to claim yet another accolade for the year, amidst all woes and throes.

As the largest specialised savings bank in Sri Lanka and the fourth largest financial institution by 2021, the bank has assets of Rs. 1.4 trillion and savings of Rs. 1.3 trillion as well as 21.3 million accounts. In 2021, it was ranked 5th ($ 166 million) in the list of the most valuable corporate brands in Sri Lanka. To foster a saving culture among all Sri Lankans who comes from all segments of the society and work towards financial and digital inclusion, the bank focuses on strengthening its digital as well as physical footprint. The bank has increased its branch network to 261 branches along with 290 ATMS and 75 CRMs. Further, the bank has introduced a mobile payment system under brand name ‘NSB Pay’ App to encourage customers to accomplish their daily banking needs safely and efficiently providing an uninterrupted service to the customers during these difficult times.

ICRA Lanka Ltd. has assigned the bank an issuer rating of [SL] AAA with Stable Outlook, on the back of 100% ownership of the Government of Sri Lanka and the 100% explicit guarantee provided by the Government for the money deposited with the bank and the interest thereof through the National Savings Bank Act.

NSB contributes immensely to the wellbeing of the citizens of the country and the development of the economy as one of the biggest lenders in the banking sector. Whilst facilitating the growth in national home ownership, opening a pathway towards economic security and mobility for thousands of customers, the bank operates as one of the biggest lenders to the Government and the second largest holder of Government securities. Further, the bank is an enthusiastic partner in the Government’s long-term infrastructure and socioeconomic development projects, in addition to contributing to the General Treasury by way of taxes, levies, fees, and dividends.

The National Savings Bank, the foremost savings pioneer in the financial sector, is committed to fulfilling its obligations to all citizens. The National Savings Bank (NSB), which was established with the main objective of farming the habit of savings to the nation, is entering its half-century golden jubilee in 2022, and it has already made future plans to ensure this era to be a prosperous time not only for the bank but for all.