List of banks in Sri Lanka

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This is a list of banks in Sri Lanka .

Central Bank

Licensed Commercial Banks

  1. Amana Bank
  2. Bank of Ceylon
  3. Bank of China
  4. Cargills Bank
  5. Citibank
  6. Commercial Bank of Ceylon
  7. Deutsche Bank
  8. DFCC Bank
  9. Habib Bank
  10. Hatton National Bank
  11. Indian Bank
  12. Indian Overseas Bank
  13. MCB Bank
  14. National Development Bank
  15. Nations Trust Bank
  16. Pan Asia Bank
  17. People's Bank
  18. Public Bank Berhad
  19. Sampath Bank
  20. Seylan Bank
  21. Standard Chartered Bank
  22. State Bank of India
  23. Hong Kong and Shanghai Banking Corporation (HSBC)
  24. Union Bank of Colombo

Source: Central Bank, March 2021 [1]

Licensed Specialised Banks

  1. Housing Development Finance Corporation Bank of Sri Lanka (HDFC)
  2. National Savings Bank
  3. Regional Development Bank (Pradheshiya Sanwardhana Bank)
  4. Sanasa Development Bank
  5. Sri Lanka Savings Bank
  6. State Mortgage and Investment Bank

Source: Central Bank, September 2020 [2]

Licensed Finance Companies

  1. Abans Finance
  2. Alliance Finance Company
  3. AMW Capital Leasing and Finance
  4. Asia Asset Finance
  5. Assetline Finance
  6. Associated Motor Finance Company [N 1]
  7. CBC Finance (previously known as Serendib Finance)
  8. Central Finance Company
  9. Citizens Development Business Finance
  10. Commercial Credit and Finance [N 2]
  11. Dialog Finance
  12. ETI Finance [N 3]
  13. Fintrex Finance
  14. HNB Finance
  15. Kanrich Finance [N 4]
  16. Lanka Credit and Business Finance
  17. LB Finance
  18. LOLC Finance
  19. Mahindra Ideal Finance
  20. Mercantile Investments and Finance
  21. Merchant Bank of Sri Lanka and Finance
  22. Multi Finance
  23. Nation Lanka Finance [N 4]
  24. Orient Finance
  25. People's Leasing & Finance
  26. People's Merchant Finance
  27. Richard Pieris Finance
  28. Sarvodaya Development Finance
  29. Senkadagala Finance
  30. Singer Finance
  31. Siyapatha Finance
  32. SMB Finance
  33. Softlogic Finance
  34. U B Finance Company
  35. Vallibel Finance

Source: Central Bank, September 2023 [3]

Notes

  1. ↑ Arpico Finance Co PLC has been amalgamated with Associated Motor Finance Co PLC with effect from 01 April 2021
  2. ↑ Trade Finance and Investments PLC has been amalgamated with Commercial Credit & Finance PLC with effect from 31.12.2020
  3. ↑ The Monetary Board has decided to cause Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding up of ETI Finance Limited, in terms of Section 31(5)(b) of the Finance Business Act, No. 42 of 2011.
  4. 1 2 Non-compliant with the minimum Capital Adequacy Ratios and is required to rectify the capital non-compliance within the timelines stipulated under the master plan for the LFC/SLC sector consolidation introduced by the Monetary Board (MB) or capital restoration plan approved by the MB.

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The free-market economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers. This growth was driven by the growth of non-tradable sectors, which the World Bank warned to be both unsustainable and unequitable. Growth has slowed since then. In 2019 with an income per capita of 13,620 PPP Dollars or 3,852 (2019) nominal US dollars, Sri Lanka was re-classified as a lower middle income nation with the population around 22 million (2021) by the World Bank from a previous upper middle income status.

Commercial Bank of Ceylon PLC (CBC) also known as ComBank is a licensed commercial bank in Sri Lanka and its ownership is private. It was incorporated as a public limited company and it is listed on the Colombo Stock Exchange. It is regarded as the largest private bank in Sri Lanka in terms of net worth and capital. The bank is currently the third largest bank in Sri Lanka in terms of total net assets and it lies behind only Bank of Ceylon and People's Bank. It is also the only private sector licensed bank in Sri Lanka to be designated as the higher-tier domestic systemically important bank according to the Central Bank of Sri Lanka. The bank currently operates a network of 268 branches and around 932 ATM machines across Sri Lanka.

<span class="mw-page-title-main">Seylan Bank</span> Sri Lankan commercial bank

Seylan Bank PLC is a publicly owned Commercial Bank in Sri Lanka. It has branches in both urban and rural areas of Sri Lanka. Seylan bank had 167 banking centres island-wide, 3000 staff members, an ATM network of 205 units covering crucial locations, 9 branches providing 365-day banking in 2020. The bank was formed as a licensed commercial bank incorporated with a shareholder base.

<span class="mw-page-title-main">Nations Trust Bank</span> Sri Lankan commercial bank

Nations Trust Bank PLC is one of the listed banks in Sri Lanka with 96 branches, 99 ATMs and 64 cash deposit & withdrawal machines as well as an automated channels and is the issuer and sole acquirer for American Express Credit Cards in Sri Lanka. Nation Trust Bank's major shareholders are John Keells Holdings and Central Finance Company PLC which are leading companies in their respective operating sectors in Sri Lanka.

<span class="mw-page-title-main">Cargills (Ceylon)</span> Sri Lankan retail, business, and restaurant company

Cargills (Ceylon) PLC is a Sri Lankan Retail, FMCG, Banking and Restaurant company which is listed on the Colombo Stock Exchange. The controlling interest in the company is held by Ceylon Theatres PLC.

People's Bank is a state-owned commercial bank in Sri Lanka. The second largest commercial bank in Sri Lanka. Established on 1 July 1961, it has its head-offices at Sir Chittampalam A. Gardiner Street in Colombo. The bank offer both retail and corporate banking services, with a network of 739 local branches, service centers and has an asset base of LKR 1.873 trillion (2019) with over 14 million customers. People's Bank received a high national long-Term Rating of AA+ by Fitch Rating. People's Bank most awarded state-owned company such as "Green Plus" "Carbon Conscious Award". People's Bank became Sri Lanka's best performing bank. Bank mainly targets small and medium enterprise. India has extended multiple credit lines and currency support to Sri Lanka, aligning with its policy of prioritizing neighboring nations and fostering strong relationships as a friendly neighboring country.

Kulappu Arachchige Don Dhammika Perera, commonly known as Dhammika Perera, is a Sri Lankan businessman, philanthropist, and politician. He is one of the wealthiest people in Sri Lanka. Perera is known as a specialist in corporate re-engineering and revival. As of 2013 he controlled 23 listed companies, and has made significant investments in healthcare technology. He is also known for frequently addressing policy for the country.

Cargills Bank Limited is a licensed commercial bank in Sri Lanka. It received its license from Central Bank of Sri Lanka to operate domestic and offshore banking business on 21 January 2014 and was ceremonially opened on 30 June 2014. At present the bank consists of 17 branches island-wide with the head office based in Kollupitiya.

Union Bank of Colombo PLC, commonly referred to as UBC, is a commercial bank in Sri Lanka. It is licensed by the Central Bank of Sri Lanka, the central bank and national banking regulator.

Citizens Development Business Finance PLC also abbreviated as CDB PLC or CDBF PLC is a Sri Lankan listed public limited company which works as a licensed finance company accepting deposits from general public. It is one of the leading finance companies in Sri Lanka and it is also ranked within the top five largest licensed financial institutions among the 46 non banking institutions in the country. In September 2019, the company received the Best Social Media Initiative of the Year at the 2019 Asian Banking & Finance Awards which was held at the Shangri-La Hotel Singapore. The company was also awarded the Sri Lankan Best Employer Brand of the Year in 2019.

<span class="mw-page-title-main">Janaka Ratnayake</span> Sri Lankan entrepreneur (born 1964)

Janaka Ratnayake is a Sri Lankan businessperson and presidential candidate currently serving as the Chairman of Trillium Property Management and Services Ltd, City Housing and Real Estate PLC, Trillium Residencies Pvt Ltd, and Rent A Comp Pvt Ltd. He served as the Chairman of the Public Utilities Commission of Sri Lanka from 2021 until he was ousted in 2023. He is the former chairman and chief executive of Export Development Board of Sri Lanka (EDB), Merchant Bank of Sri Lanka (MBSL), Merchant Credit Sri Lanka (MCSL), MBSL Savings Bank, and MBSL Insurance.

Edirisinghe Trust Investments Finance Limited also popularly known as ETI Finance is a Sri Lankan private limited company as well as a non banking financial institution which worked as a licensed finance company accepting deposits from general public. The company's business was primarily based on lending money on gold securities. On 13 July 2020, Central Bank of Sri Lanka decided to cancel the license of the company due to insufficient capital and financial problems regarding repaying depositors' money on demand as well as before maturity.

<span class="mw-page-title-main">LOLC Holdings</span> Sri Lankan conglomerate

LOLC Holdings PLC is a Sri Lankan conglomerate listed on the Colombo Stock Exchange (CSE). Originally starting as a non-banking financial company LOLC has grown into one of the largest Sri Lankan conglomerates involved in many sectors and subsidiaries in several countries although it is still mainly involved in the financial sector.

<span class="mw-page-title-main">Central Finance Company</span> Sri Lankan non-banking financial company

Central Finance Company PLC is one of the oldest non-bank financial institutions (NBFIs) in Sri Lanka having founded in 1957. The company is listed on the Colombo Stock Exchange in 1969. Brand Finance ranked the company the 28th most valuable brand in Sri Lanka for the year 2021. Central Finance Company was ranked 44th in the LMD 100 for the fiscal year 2019/20 by LMD.

L B Finance PLC sometimes spelt LB Finance, is a Sri Lankan non-bank financial institution. The company is incorporated in 1971 and initially, the majority of shares were held by Lewis Brown & Company. The company was listed on the Colombo Stock Exchange in 1997. In 2003, Dhammika Perera acquired the company and became a subsidiary of Vallibel One. Currently, the company is one of the components of the S&P Sri Lanka 20 Index. Brand Finance ranked the company 24th in the 100 most valuable brands in Sri Lanka. The company placed 39th in the LMD 100 for the financial year 2019/20.

<span class="mw-page-title-main">People's Leasing & Finance</span> Sri Lankan non-banking financial company

People's Leasing & Finance PLC, sometimes called People's Leasing Company or commonly abbreviated PLC, is a licensed non-banking financial company in Sri Lanka. The company is ranked 30th in LMD 100, an annual list of leading listed companies in Sri Lanka. Brand Finance placed the company 21st amongst the 100 most valuable brands in Sri Lanka. The company was incorporated in 1995 and in 2010 listed on the Colombo Stock Exchange. 75% of the shares of the company is held by the People's Bank, one of the two government-held banks of Sri Lanka.

<span class="mw-page-title-main">LOLC Finance</span> Sri Lankan non-banking financial company

LOLC Finance PLC is a non-banking financial company based in Sri Lanka. LOLC Holdings is the ultimate parent company of LOLC Finance. The company was founded as LOLC Finance Company Limited in 2001. In 2003, the company changed its name to Lanka ORIX Finance Company and commenced operations. Lanka ORIX Finance Company became a public company in 2011 with its listing on the Colombo Stock Exchange. The company adopted its current name in 2015. LOLC Finance is one of the LMD 100 companies in Sri Lanka. The company is also one of the 100 most valuable brands in the country. LOLC Finance has been a constituent of the S&P Sri Lanka 20 Index since the end of 2021. LOLC Finance merged with its sister company, Commercial Leasing & Finance PLC in 2022. The merger resulted in LOLC Finance becoming the largest non-banking financial company in the country.

References

  1. ↑ "Licensed Commercial Banks (as at 31 March 2021)". Central Bank of Sri Lanka . Retrieved 20 November 2021.
  2. ↑ "Licensed Specialised Banks (as at 30 September 2021)". Central Bank of Sri Lanka . Retrieved 20 November 2021.
  3. ↑ "Licensed Finance Companies (as at 1 September 2023)". Central Bank of Sri Lanka . Retrieved 7 September 2023.
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