Lankaputhra Development Bank celebrates 11th anniversary

Lankaputhra Development Bank celebrated its 11th anniversary in grand style at its headquarters in Colombo recently, giving priority to all religious observances. 

The ceremony was headed by Chairman Ruwan Gallage and officials of senior management including Acting General Manager/CEO Ranjith Dissanayake and working Director of the Bank Thuan Riza Hameed were also present at the occasion. In line with the anniversary celebration at the Headquarters, ceremonies were organised at other branches of the LDB as well.  

Expressing views at the event, Gallage said LDB which was initiated in 2006 had planned a long journey in the development banking sector. Having been established with the objective of encouraging small and medium scale entrepreneurs, LDB has identified the current challenges in the banking sector and proper solutions will be given to all these issues, he said. Gallage further said that LDB as a development oriented bank was committed to provide more flexible services to the public. 

LDB presently has branches in Colombo, Hambantota, Polonnaruwa, Kandy, Kegalle, Wennappuwa, Batticaloa and Trincomalee, which render a unique service to SMEs in these areas. 

LDB grants attractive interest rates for savings and higher interest rates for fixed deposits of senior citizens. In addition, leasing facilities, pawning service, Sandaliya savings account for women and Shasthri education loan scheme for individuals to pursue higher education are some special services carried out by LDB at present. 

The ‘Shasthri’ loan scheme provides concessionary loans for persons to follow degree courses, postgraduate degrees and vocational education in reputed universities and higher education institutes in Sri Lanka as well as overseas.

In addition, LDB is implementing loan schemes ‘Ran Aswenna,’ ‘Rivi Bala Savi’ and ‘Jaya Isura’ which have been introduced by the Ministry of Finance. Under these loan schemes entrepreneurs of the agriculture, animal husbandry, dairy farming, fishing industry, construction and engineering services, hotel and tourism sectors are able to obtain loans at lower interest rates.