MBSL creates banking history by opening 16 branches in a day

The Merchant Bank of Sri Lanka (MBSL) has created history by opening 16 branches and service centres in a day in different parts of the country as part of its 30th anniversary celebrations.

MBSL said the move highlighted the presence of the bank serving the nation across the country and driving home its strength and stability in offering a host of financing options for consumers and SMEs.  MBSL’s encouraging national expansion in the face of the current global financial crisis is a testament to the appeal of the bank’s customer-centred thrust to provide quality service to clients, through substantial capital build up and aggressive branch development.

The official opening of these 16 branches and service centres, located in Panadura, Deniyaya, Ratnapura, Avissawella, Nittambuwa, Moneragala, Bandarawela, Mathugama, Ambalangoda, Ambilipitiya, Kandana, Mahiyyawa, Kekirawa, Puttalam, Hingurakgoda and Ampara, was inaugurated by the Minister of Economic Development Basil Rajapakse, with Bank of Ceylon Chairman Dr. Gamini Wickremasinghe as the Guest of Honour.

MBSL also unveiled its new logo, ‘30 years of successful banking’ at the event.

Speaking at the grand ceremony, which also felicitated employees with over 20 years of service, MBSL Chairman M.R. Shah said: “It is with great pride that we celebrate our bank’s 30th anniversary. It is a true testament to the great men and women who have been part of this organisation and who have provided a dedicated service to the bank.”

“With the end of the war in 2009, Sri Lanka is now witnessing the beginning of reconstruction in the country, with the SME sector playing a key role in rebuilding the Sri Lankan economy. These entrepreneurs have made a positive and very significant contribution by creating employment opportunities, increasing exports and by generating higher national revenue,” he added.

Shah also said that recognising the importance of small and medium scale entrepreneurs to the growth of national economy, MBSL is now positioning itself as the small and medium enterprise development partner for SMEs island-wide, in an attempt to foster sustainable development in Sri Lanka.

“We strongly believe that the current market situation provides a good opportunity for our branches to identify and assist potential SMEs and entrepreneurs and to lend a hand to these cottage industries, while focusing on uplifting the lifestyles of the people with suitable financial solutions. One of our greatest achievements over the past 30 years has been our customers’ successful ventures aided by MBSL. Whether it’s in providing a helping hand to local businesses or assisting to purchase a vehicle, we are privileged to have played a part in your success,” MBSL Chairman added.

Since its inception, MBSL has served as a pioneer in merchant and business banking, providing a wide array of banking services to customers including corporate advisory, investment banking, leasing and hire purchase packages and trade finance. With the expansion of its branch network, the banking giant has chosen to give Sri Lankan business in all regions of the country, the opportunity to access and utilise its considerable expertise in order to enable them to achieve high performance levels. MBSL’s payment schemes allow its clients to covert to easy and light installament rates for their borrowings giving them power over how they can manage their money. The bank has also developed lending products for the SME sector with revolving credit lines and term loans which the entrepreneurs can access for working capital and business expansion, equipment acquisition or factory construction.   

With a deep understanding of the diverse needs within the communities in which it operates, MBSL continues to focus on sustainable business growth at grass-root level, while continuing to offer a full range of financial solutions. The success stories of small scale entrepreneurs, retailers and industrialists are numerous, and have been an ever increasing, praiseworthy point for the Merchant Bank.