NSB records historic deposition mobilisation of Rs. 220 bn in 2020 | Daily News

NSB records historic deposition mobilisation of Rs. 220 bn in 2020

Chairperson, Keasila Jayawardena and Manager/CEO, Ajith Peiris
Chairperson, Keasila Jayawardena and Manager/CEO, Ajith Peiris

National Savings Bank (NSB), during 2020 which was a challenging year had strived to continue our business operations and customer service successfully while ensuring the healthcare safety of our employees.

“The year 2020 has been a truly challenging year for the Bank, country and entire world. The difficulties and issues encountered were endless due to the rapid spread of Covid- 19. In a backdrop where the pandemic has disabled the public life and almost all the sectors of the economy at home and abroad we had strived to continue our business operations and customer service while ensuring the healthcare safety of our employees.” said the Chairperson of NSB, Keasila Jayawardena, looking back at the past year.

“However, I recall that we have been able to reach many milestones in the history of the Bank while steering resiliently in the troubled waters during the past year as well as the past decade”, said the General Manager/CEO of the Bank, Ajith Peiris who has assumed duties in the end of the year 2020.

“We have recorded the highest ever deposition mobilization in the history of the Bank which is more than Rs. 220 billion during the year 2020 and the highest ever ordinary deposits of Rs. 58 billion recorded in the history of the Bank has contributed to the above achievement. This exceptional deposit mobilization achieved during the year bears testimony to the successful way forward of the Bank,” he said.

Further, as a bank that has always kept Information Technology and its developments in the forefront.

The implementation of a core-banking system, a topmost Information Technology project, commenced in the year 2019, which brings forth a complete transformation in the Information Technology Systems of the Bank, is successfully in progress and expected to be concluded around November 2021.

Since maintaining social distance is imperative as a preventive measure against Covid-19, the customers were encouraged more to use our Internet Banking Facility for their day to day banking needs without visiting our branches. Accordingly, many new customers were registered for the Internet Banking Facility of the Bank during the year.

The Branch network of the Bank has been increased to 259 branches towards the end of the year 2020 and many of the existing branches were refurbished to give an attractive outlook and with modern amenities.

The Bank has been awarded with many accolades during the year.

“We could successfully implement the debt moratorium introduced by the Government to extend a helping hand for the people as the life of the people and economy of the country is heavily affected by the spread of Covid - 19 during the most part of the year 2020 and by the end of the first wave of the pandemic the moratorium was offered to 90% of the customers in the retail loan portfolio.

“If it is not for the contribution of our valued customers and other stakeholders including the staff of the Bank who have placed their continuous confidence and trust on us and stayed connected with us amidst the existing risk and difficulties, our achievements and success would have not been a reality,” she said.

“Now, we are stronger with Sri Lanka Savings Bank, who has now become a member of our group and our other subsidiary, NSB Fund Management Company Limited has also recorded a commendable profit during the year 2020”.

“The preliminary arrangements related to the objective of becoming a digitalized bank by year 2022will be in place during this year. Further, the Bank expects to offer a more convenient and secure banking experience for the customers of the Bank by introducing a mobile banking app during the year. We also will be able to deliver a more efficient customer service during the coming years upon successful completion of the co-banking project.” General Manager/CEO, further stated.

While looking forward to further strengthen the impressive performance achieved by the Bank thus far by achieving a continuous growth in terms of our deposit base, loan portfolio, market share and remittance market all measures are in place to celebrate the 50th Anniversary of the Bank which falls on March 16, 2022.