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Q: So what are the products and services offered by the Personal Financial Services at DFCC Vardhana Bank?
A: Personal Financial Services at DFCC Vardhana Bank is a total solution provider with a complete range of banking products and services designed to meet the ever-changing requirements of the individual client. Our portfolio consists of personal loans, housing loans, educational loans, vehicle loans, loans for professionals, leasing as well as gold pledge advances and credit cards in addition to regular banking products.
Q: Can you elaborate more on your products?
A: Personal loans cater to employees of both private and Government institutions. We also have specially designed schemes for professionals. One can borrow up to Rs. 6 million by way of a personal loan with a repayment period extending to six years subjected to fast approval and minimum documentation. We cater to all your needs, be it a vehicle, overseas travel, family commitments, refurbishment of your home – you name it and we cater. After all happiness is getting those little things your heart desires and at DFCC Vardhana Bank we make it happen.
Vardhana Sandella Housing loans are granted to meet varying need from construction to renovation, outright purchase of house and property as well as condominium apartments. With a maximum repayment period of 20 years for purchase or construction, 10 years for renovations and extensions. We cater to all segments, the fixed income earners, self employed as well as those employed overseas.
The formalities associated with obtaining a housing loan can be quite strenuous, involving the dreaded and endless paperwork which can further complicate matters. However at DFCC Vardhana Bank obtaining a housing loan is easy, stress free and fast. All the necessary information the customer requires is provided during the initial discussion thus saving valuable time. The bank’s call centre is also geared to assist customers over the phone and their requests will be channelled to the relevant branch where all concerns and issues will be resolved. The process is also made easy as we provide a checklist incorporated in the application which will ensure that the necessary documents are forwarded and the bank’s officials will guide the customer throughout. All branches are fully geared to provide the required information. Furthermore the bank’s website also offers online assistance.
Vardhana Nanasa is yet another Personal Financial Service introduced by DVB last year, providing the much-needed financial assistance to students as well as professionals who wish to pursue their higher education. This retail loan scheme caters exclusively for education, helps ease the burden of cost and most importantly contributes towards educating our youth. DVB also has plans to further enhance this product by partnering with private higher educational establishments providing degree programmes in Sri Lanka which are affiliated to reputed universities abroad.
Our aim is to build lifetime relationships with our customers partnering them from their early years. As education is the key to success, our intention is to help the younger generation develop their careers and become future leaders of this country. We stand by our customers in every step of their way keeping to our promise as the most caring and trusted bank.
With Vardhana Leasing we offer you a tailor made product to suit your requirement. You will also be guaranteed of a personalised service coupled with the best interest offered as always by DFCC Vardhana Bank
Q: DFCC Vardhana Bank (DVB) continues to uphold its status as one of Sri Lanka’s fastest growing banks, where Fitch has rated you as a stable establishment. Can you explain the reasons for this success?
A: Fitch Ratings Lanka re-affirmed the bank’s National Long-Term Rating of AA-(lka) (Stable Outlook) DFCC Vardhana Bank has sustained this rating consistently over the past nine years. The company is 99.12% owned by DFCC Bank, which has strategically helped the DFCC Group to expand their product offering.
Q: How was the performance in the past financial year?
A: 2012 has been a challenging year for the banking sector thus far but we have managed to retain our rating. DVB’s capacity to meet its financial commitments is a direct result of our prudent business practices. Making the bank one of the most secure places to invest their hard-earned money for our existing customers and potential ones is a philosophy we will always abide by.
Income for the full year rose to Rs. 7.58 billion in 2012, which is quite healthy. In 2011, the bank reported an income of Rs. 4.58 billion. During the period under review, banks were restricted to an 18.0 percent regulatory ceiling on credit growth set by the Central Bank of Sri Lanka for 2012. The bank’s deposit base rose to Rs. 48.08 billion in 2012, from Rs. 34.11 billion in 2011. Total assets rose to Rs. 59.57 billion in 2012.
