New Chairperson says AAA-rated NSB well poised to grow further

• Reiterates depositors are assured 100% protection

Newly appointed Chairperson of National Savings Bank (NSB), W.A. Nalani yesterday declared that the AAA-rated financial giant is well poised to grow; further delivering higher value to customers.

Nalani said her key role is to take the country’s premier savings bank forward on the growth path, where many opportunities are available to provide various diversified services to depositors and to the general public of this country, thereby contributing to the national economy.

“The confidence and the trust of the people of this country placed in our bank has indeed taken us to a greater height during four decades of transformation amidst intensified competition, making us the third largest bank and the leading savings bank in this country,” she said.

As the pioneer organisation in savings, NSB has inculcated the savings habit among the urban and rural masses for several decades and is rooted in the hearts and minds of the people as the most stable and customer-friendly savings bank.

Nalani also said the customer deposits and interest payments are 100% guaranteed by the government of Sri Lanka, thereby providing full protection, while the bank is rated as a ‘AAA’ organisation for the past 10 consecutive years by the reputed rating agency, Fitch Ratings Lanka Ltd.,” which further justifies the stability of the bank.

“Today, than any other period, the banking and financial industry has become more challenging amidst intensified competition. NSB has continuously grown and strengthened due to business expansion through enhancing its branch network and an effective postal network, which function as mini branches across the island, while transforming people of all walks of life from the new born baby to the senior citizen, to NSB depositors,” said Nalani, a veteran Banker, spanning over 37 years of experience in the banking industry.

“Our immediate priorities will be to strengthen ourselves further to meet fast changing customer needs and expectations and reach out to people across the country through a wider network of branches.

We are expanding further our international banking services to Sri Lankans who live abroad, adding more value to their hard-earned foreign monies through more efficient, secured services expanding to many countries. The bank has been able to secure the confidence of thousands of Sri Lankan diaspora employed abroad, by remitting foreign money to their accounts in Sri Lanka at comparatively low cost,” emphasised Nalani.

She is a graduate of the University of Colombo with a Bachelor of Arts in Economy (Hons) and Bachelor of Philosophy in Economics. She has served as the General Manager/CEO of Bank of Ceylon, the largest bank in the country and has earned a distinguished career in the banking fraternity. In 2009, Nalani was awarded the prestigious Zonta Award for Excellence in the Banking Category. She has also served as the President of the Association of Professional Bankers of Sri Lanka.

NSB has a network of 227 branches and 4053 post offices and sub post offices island-wide, providing untiring service to the customers.

The NSB Chairperson also said that the housing sector will be continuously funded considering the country’s needs to develop this sector and provide “better shelter” to the common man in the country. Funding of large infrastructure development projects is the newest business line of the bank.

“Our country has reached a new era filled with boundless opportunities for the banking and finance sector with the last four years bringing in dividends of peace. The Government’s development agenda that is already in place, followed by the economic and political stability of the country, has added tremendous value to the present environment and National Savings Bank is fully poised to take maximum advantage of these favourable macroeconomic conditions at home and abroad, thereby making vital contribution for the economic development,” she said.

“We now strive to mould the future movements of the bank by capitalising on these opportunities and broadening our business operations in the domestic and international arena. In this context, we are watchful about our upcoming opportunities and poised to take prudent decisions to further enhance the growth and the stability of the bank. As our prime objective, we will continue with the “National drive” for promoting the habit of thrift throughout savings among Sri Lankans, safeguarding and protecting their deposits as the most trusted savings bank. We convey our gratitude to our longstanding depositors for the faith and loyalty they displayed, all throughout,” Nalini added.

NSB is a bank that has stood the test of time, maintaining its own individuality, standing tall as the country’s premier savings bank and receiving enormous public confidence for its reliability, stability and strength and will continue to maintain this momentum in shaping the country’s future direction.