National Savings Bank enters 41st year with new plans

National Savings Bank (NSB) is entering 2013 marking its 41st anniversary with new plans to play a more dynamic role for customers, society and the country at large.

Chairman Sunil S Sirisena said NSB has set ambitious goals as it evolves into a modern retail bank that is customer focused, IT savvy and futuristic.

So far the Bank has crossed many milestones in its journey of serving the nation and NSB began transforming itself from a State owned entity into a modern retail bank that provides tailor made solutions for its diverse customer base. “This process of transformation is well underway and today the Bank touches the lives of its account holders through a variety of modern financial solutions using state-of-the-art technology,” Chairman Sirisena said.

Its nearly 4,300 access points, including 219 branches, over 650 post offices and 3,400 sub-post offices, 220 ATMs and ATM card with Master and Visa Card connectivity , over 17 Million accounts and the prestigious AAA ratings place the Bank in a unique position among Sri Lankan banks to realize these ambitious goals.

“It is also worthy to note that the National Savings Bank is the only bank in Sri Lanka with 100% Government Guarantee on public deposits and the interest accrued thereon,” the Chairman added.

While striving to record a strong financial performance, NSB is conscious of its social responsibility it has towards the diverse client base. Goal of the National Savings Bank is not just to amass financial wealth but to generate social wealth for its client base and for the country in general.  “Within this broader goal NSB will continue to pursue some of its specific objectives: encourage the ‘savings habit’ among all Sri Lankans and promote the housing rights of Sri Lankans, especially the most under privileged,” Sirisena added.

While the Bank transforming from a State owned entity into a modern retail bank providing tailor made solutions for its clients, it will not depart from its social objectives.

“The Bank is moving into a new era. It is transforming from a passive player to a dynamic and modern retail banker, employing the most sophisticated technologies.

It has been playing a significant role in the life and times of Sri Lankans and now it is re-positioning itself to meet the demands of a globalized economy and the lifestyle changes of the new millennium,” NSB Chairman said.

NSB is anticipating a rural renaissance and will seek to reach out to this new and emerging customer base and develop new products specifically tailored to their needs.  It will continue to encourage innovation and imagination in all aspects of the Bank’s operation, not just in product development, the Bank also stands committed to its social responsibilities and to transparent governance at all levels and ensures that it conforms to the highest standards of ethics and integrity.

NSB Chief Executive Officer and General Manager H M Hennayake Bandara said the dawn of a new year brings with it heightened awareness of rising expectations for the future, and of opportunities that lie ahead. “This is particularly true for Sri Lankans as we all expect better living standards and economic prosperity with the restoration of peace in the country after many decades,” he said.

According to Bandara NSB, being the largest and the oldest savings bank in the county with a history going back to early 19th century, has contributed significantly to the development of the country by inculcating the value of savings in the minds of people. “The Bank has been resilient in its progress among commercial bank giants during the last four decades. NSB is the only bank that provides full government guarantee on the deposits and interest thereon.  We are the first and the only local bank to receive AAA credit rating from Fitch Ratings Lanka and maintain the same rating for 10 consecutive years,” he said.

“The New Year will bring its own mix of successes and challenges. Our job is to continue our intense focus on providing our customers and clients with the best service and the most comprehensive financial services solutions in the market, managing our costs, re-building our brand, and full filling our role to keep the economy moving forward,” NSB General Manager/CEO said.