RDB opens new Head Office in Kelaniya

By Melissa Perera

The Regional Development Bank (RDB), under its tagline ‘Empowering Sri Lankans,’ declared open its new Head Office at 933, Kandy Road, Wedamulla, Kelaniya earlier this week.

Regional Development Bank Chairperson Keshala Jayawardena, Economic Development Minister Basil Rajapaksa and RDB General Manager/Chief Executive Officer Rathnasiri Siriwardena declare the new RDB Head Office open

The ceremony was attended by Economic Development Minister Basil Rajapaksa, Regional Development Bank Chairperson Keshala Jayawardena, RDB General Manager/Chief Executive Officer Rathnasiri Siriwardena, Minister of Road Development, Housing and Construction, Fisheries and Tourism for the Western Province Nimal Lanza, and many other representatives.

The 100% Government owned RDB was formed in May 2010, by amalgamating six development banks: Ruhuna, Kandurata, Uva, Wayamba, Rajarata and Sabaragamuwa. The bank is committed to empowering Sri Lankans through their innovative deposit and developmental loan schemes which are being patronised mainly by the rural, semi-urban, small and medium scale urban entrepreneurs, farmers, fishermen and industrialists.

RDB currently caters to a customer base of 3.5 million. The bank offers support to a wide range of banking operations to meet market centric customer requirements ranging from specialised modules such as pawning, debentures, securitisation, loan origination, integration middleware, MIS and analytics, audit trail and access control with single sign-on, to the basic core modules like general ledger, operational accounts, deposits, loans and advances, leasing, counter operations, and remittances.

Commenting at the occasion, RDB Chairperson Keshala Jayawardena said, “The 253 branches and service centres are interlinked with core banking solutions and thereby offers a more efficient and convenient service to the customers and improves our productivity as well.” She added, “The bank’s role is to be a catalyst in the development program, particularly in the rural economy by providing most appropriate solutions to priority sectors.”

Economic Development Minister Basil Rajapaksa stated, “I thank RDB for developing the banking system for the rural areas and for joining hands with the Government’s initiative, Divi Neguma. Commencing an interconnected banking scheme within the rural areas is a difficult task. I wish RDB the best of luck as they join hands with the Government in achieving its target in going into the international arena. In order to achieve their goal, there should be very good leadership skills, and I am proud to say that the workforce itself is fully fledged in such qualifications.”

RDB General Manager/Chief Executive Officer Rathnasiri Siriwardena noted, “We have accomplished many milestones throughout our long journey by inaugurating 271 branches throughout the island, with a workforce of 3,000 and an additional workforce of 1,000.”

The beginnings of the RDB can be traced back to as far as 1985 when district level banks under the category rural regional development banks were established. 17 such rural regional development banks were merged into six provincial level banks later in 1997.

In May 2010, these six banks merged into one national level bank and designated as the Pradheshiya Sanwardana Bank (Regional Development Bank). The bank was established as a statutory body under the Pradheshiya Sanwardana Bank Act No.41 of 2008 under the guidance of the President Mahinda Rajapaksa.

RDB’s objective is to improve the living standards of the rural masses by providing them with accessible and affordable credit facilities that in turn would contribute towards strengthening the rural economy. Originally based on the ‘barefoot banking concept’, the bank strives to provide innovative yet simple financial services to those at the middle and bottom of the income pyramid.

“The development of a country’s economy is strongly based on the rural villages. Therefore, this is what we should mainly focus on. Currently, the banking system is backed by an investment of Rs. 70 billion, of which Rs. 58 billion is being given as loans to the underprivileged,” Siriwardena revealed.  

“The bank empowers customers in micro, small and medium scale industries, women, as well as the agriculture, livestock and fisheries industries who would in turn contribute towards the country’s economic development. RDB has also taken steps to inculcate the savings habit amongst the rural people, providing higher returns on savings and fixed deposits, and encouraging school children and minors to save,” he further explained.

Making history in the banking industry together with the Lotteries Club, RDB for the very first time brought in a loan scheme for lottery sellers. Many other financial loan facilities were provided for the underprivileged of many industries by Minister Basil Rajapaksa in the form of agricultural loans, business loans, housing loans, industrial loans and Ranaviru Divi Neguma loan schemes.

Many gifts, including bicycles for a selected number of account holders of the junior saving account ‘RDB Kakulu’, and a three-wheeler for a villager, were given away. Thereafter, the ceremony was followed by many customer deposits.

Pix by Sameera Wijesinghe