NSB leading Sri Lanka’s savings culture with innovation

NSB General Manager/CEO Shashi Kandambi with WSBI SDG Award

NSB Chairman Dr. Harsha Cabral PC

• Achieves prestigious International WSBI Award; 2025 Thrift Day global theme “This Is Not a Savings Account”

The National Savings Bank, Sri Lanka’s premier savings institution and the country’s sole representative of the World Savings and Retail Banking Institute (WSBI), last week joined the global celebration of World Savings Day 2025 on 31 October, reaffirming its founding purpose, to inspire the nation to save and build a financially secure future.

The origins of this significant and globally observed day dates to 31 October 1924, when the founders of WSBI declared the first “World Thrift Day,” advocating savings as a pathway to financial security, independence and national progress. A century later, this mission continues with renewed strength and transformative energy.

This year’s global theme, “This Is Not a Savings Account” marks a bold shift in perspective. Rather than viewing savings as a passive act of depositing money, the campaign redefines savings as a powerful and active investment in the future. Every savings account represents a life goal, education, a home, a new business, a retirement spent with dignity, and ultimately, the confidence to move toward a better tomorrow. Savings are not static; they are an ongoing investment in life’s aspirations.

In recent months, NSB has scaled the heights of global recognition by receiving the prestigious WSBI SDG Award, celebrating the Bank’s exceptional contributions towards climate finance, consumer protection, digital transformation and technological innovation. 

With this award, NSB stands among the world’s leading savings banks that demonstrate a measurable impact towards the United Nations’ Sustainable Development Goals (SDGs). This accolade is not merely ceremonial, it underscores NSB’s role as a national and international leader in sustainable, inclusive banking.

As a national leader in savings mobilisation since its establishment, NSB continues to drive financial inclusion and literacy across Sri Lanka. With its broad branch network and cooperation with the postal banking system, NSB ensures that all Sri Lankans, whether in city centres or distant rural hamlets, have access to trusted and affordable financial services.

NSB said in today’s rapidly changing global landscape, the value of thrift and savings has never been more pertinent. The world faces shifting economic tides, climate uncertainty, evolving employment patterns, and the acceleration of digital transformation. In such times, cultivating the discipline of saving is not merely a personal financial habit, it becomes a strategic asset, both for individuals and for society as a whole.

On an individual level, savings provide a dependable foundation for navigating unexpected events from job disruptions, health emergencies, seasonal fluctuations, to transitions in life. When a household maintains a savings cushion, it builds resilience. Research shows that in modern economies a strong savings culture contributes significantly to financial stability and can act as a buffer in times of crisis. Beyond the personal sphere, the act of saving plays a key role in fueling economic growth.

When individuals save through trusted institutions, these funds can be channeled into investment in entrepreneurship, infrastructure, innovation and national development. In emerging economies, especially, savings translate into capital that powers broader progress.

As a savings bank committed to the public interest, we believe the concept of thrift should be re-thought for the 21st century, not as mere restraint of spending, but as purposeful facilitation for tomorrow. Here’s how we invite the public to embrace savings in a novel way:

Think of savings as opportunity-creation, not just reserve-keeping. Every rupee put aside is not just for “just-in-case” scenarios, it is a stake in future possibilities: new skills, new business, sustainable upgrades, better education, or a healthier life. By positioning savings as an investment in one’s potential, we shift from passive mode to proactive planning.

Align savings with purpose and values. In a world where sustainability and inclusion matter, savings can be directed in ways that reflect both personal goals and collective values. For example: a savings plan that supports green home improvements, empowers women through new skills, or supports rural livelihoods. Thus, thrift becomes aligned with environmental and social contribution, not just personal gain.

Embrace saving as a long-term habit, not a one-off. The power of savings grows with consistency. Small regular deposits build financial habits, reduce dependency, and provide freedom. In turn, institutions can channel stable savings into meaningful development activities. A strong savings culture becomes a virtuous cycle of personal stability and national resilience.

Leverage digital tools and financial literacy. In the digital era, access and inclusion matter. Savings should be made simple, accessible, secure and understandable. We encourage every customer, whether young, working, retired or under-banked, to use digital channels, automated deposit plans, and to engage with learning resources. A wise savers’ mindset is built not just on doing, but on knowing why.

Prepare for change, embrace flexibility. Global economy and technology evolve quickly. A savings mindset that is adaptable will enable individuals to adjust, whether to career shifts, global challenges or new opportunities. Thrift today prepares for the uncertainties of tomorrow, from climate shocks to digital disruption.

Saving is a collective contribution, as saving begins with individuals, they extend their impact beyond. Strong savings habits across households support stable banking systems, enable development funding, enhance economic resilience, and support national progress. Likewise, each person’s frugality becomes a part of a broader story of growth, sustainability and inclusion.

In sum, at this stage of the world, savings are not merely extras stowed away: they are tools of empowerment, engines of inclusive growth, and safeguards of the future.  As your savings bank, we invite you to view your savings account differently, not just as a place where money rests, but as a launch pad for dreams, a buffer for uncertainty and a pledge for the progress of the planet and the nation. By making the habit of saving, you are not only preparing yourself — you are shaping a sustainable, inclusive and prosperous tomorrow.

NSB Chairman Dr. Harsha Cabral PC, emphasises the strategic importance of this course: “Savings lie at the heart of national resilience. NSB, as the country’s dedicated savings institution, has always believed in empowering people through financial discipline. On World Savings Day 2025, we proudly continue this legacy while steering the nation toward sustainable prosperity. Every rupee saved strengthens not only one’s personal future, but also the economic foundation of our country.”

NSB’s commitment to sustainability and social progress is reflected in its many initiatives. Its Agro-Forestry programme invites savers to participate in tree-planting and home-garden projects that strengthen environmental stewardship and support families in building green assets.

The bank also runs major financial literacy programmes for children, youth and women, and supports language and education efforts through “English is Simple” and the annual “Hapan” scholarship scheme , all of which reinforce the Bank’s alignment with SDG-goals such as decent work and economic growth (SDG 8), industry, innovation and infrastructure (SDG 9), reduced inequalities (SDG 10), and climate action (SDG 13).

Reflecting on NSB’s global standing and its mission-driven work, NSB General Manager/CEO Shashi Kandambi said: “Our responsibility goes beyond banking transactions. When we encourage a person to save, we are helping them to build confidence, self-reliance and a better future. This year’s theme resonates deeply with NSB’s promise, we are not just opening savings accounts, we are opening pathways to dreams. With WSBI and our global network, we look forward to elevating the savings culture of Sri Lanka and driving sustainable progress for generations to come.”

As Sri Lanka navigates economic transformation, digital evolution and climate urgency, NSB remains steadfast in its mission: rooted in thrift, oriented toward innovation, and aligned with the SDG agenda. On this World Savings Day, NSB invites every Sri Lankan to participate in the movement, because this is not a savings account; it is a future in the making.