National Savings Bank’s way forward with excellence of 49 years

NSB DGM Marketing Lal Karunathilaka

National Savings Bank (NSB), the premier savings bank in Sri Lanka celebrates its 49th anniversary today with the World Savings Bank Institute and its valued customers. NSB is the safest bank in the country which provides 100% government guarantee for the customers’ deposits and interest thereon. 

As per a concept of the then Minister of Finance, Dr. N.M. Perera, NSB was established in 1972 with the amalgamation of four savings organisations in the country, namely, Ceylon Savings Bank, Ceylon Post Office Savings Bank which was founded in 1885, Savings Certificate Section and Ceylon War Savings Movement. Since then, NSB, marking its presence throughout the villages and cities of the country has contributed greatly to increase the savings base of the country as well as all social levels while preserving its local identity. With a proud history of nearly 50 years NSB always strive to ensure the latest banking experiences for the customers based on latest technological advancements and aspects of globalisation. It is with great pride that I state that NSB has been able to provide a wide range of innovative banking services for the Sri Lankans by connecting with many global markets through smart technology. 

Due to the COVID- 19 pandemic during the year of 2020, not only the people of our country but also the entire world had to face many challenges and all of us experienced the complexity and magnitude of the economic and social issues erupted under the circumstances. Following the healthcare safety measures prescribed by the Government and amidst lockdowns of the entire country or certain areas, NSB has taken all steps to continue its customer service through ATMs, CRMs and NSB e-connect, the Internet Banking Service in addition to its branch network. Even during such a difficult time, the Bank has been able to record the highest ever profitability in its history and we make this opportunity to thank our valued customers for the same.  

NSB, which has been granted the status of a licensed specialised bank under the Banking Act No. 30 of 1988, boasts of more than 20 million accounts today. 

Contribution for the economy of the country 

NSB serves the nation and backs the worthy course of nation building by contributing to the General Treasury by way of taxes, levies, fees and dividend and funding long term development projects implemented by the Government. Further, the Bank caters to the financial needs of the entire nation by investing a maximum of 60% of its deposits in Government Securities as per its statute. 

NSB is committed to serve its customers with a branch network of 260 branches, 359 ATMs and CRMs and the postal network of more than 4,000 post offices and sub post offices. 

The Bank has been able to achieve an asset base of more than Rs. 1 trillion in the year 2017 and the deposit base of the Bank too has surpassed Rs. 1 trillion during the same year. In the year 2019, the Bank’s total asset base stood at Rs. 1.2 trillion with a growth of 11.7% compared to the previous year.  

Concessions to the people during the COVID-19 outbreak   

The Bank has been able to provide several concessions to our customers under the guidelines of the Government during the COVID-19 outbreak such as debt moratorium, reduction of lending interest rates and introducing the Special Deposit Account (SDA) which offers a higher interest rate for the remittances received from abroad. 

NSB Senehase Dayada 2021

As the previous year the Bank implements an account opening program for the 49th Anniversary of the Bank under the brand name, ‘NSB Senehase Dayada’ and Hapan Accounts will be opened for the infants born on 16th March 2021, with a contributory deposit of Rs. 1,500/- under the same. All what you should do is visiting the nearest NSB Branch with the birth certificate of the infant born on that day. 

A special offer for NSB Debit Card holders 

The customers can receive a cash back offer of 20% for the fuel purchased from any filling station using NSB Debit Card on 16 March, on which the 49th anniversary of the Bank falls, from 9 a.m. to 10 a.m. and 4 p.m. to 5 p.m. The maximum discount received is Rs. 1,000. 

Glancing the future positively    

The Department of Census and Statistics has declared that Sri Lanka has achieved an economic growth of 1.5% during the third quarter of 2020 when compared to the previous year. Further, the Governor of Central Bank of Sri Lanka (CBSL), Prof. W.D. Lakshman has stated that the economic growth of the country will be increased to 6% from 5% during the year. As such, NSB believes that all of us should extend our contribution to make the year 2021, a promising year for the local products by energising many local manufacturers.  

National Savings Bank is ready to contribute towards achieving ‘developed’ status and uplifting the living standards of Sr Lankans through the leadership provided by the Government in safeguarding the local entrepreneur and the national economy.