NSB dares to begin afresh

* Net profits 3.7bn, deposits Rs. 53.4bn

Sporting this bold theme in its annual report for 2009, National Savings Bank (NSB) gives a hint of the bold, daring and epoch making changes that will distinguish the Bank in the coming years.

Newly appointed General Manager/CEO Hennayake Bandara explaining the theme said ‘Sri Lanka is about to go into fast forward mode. In a modern world where change is accepted as inevitable, the near future will have the potential to surprise and often disconcert us. This is especially true of organisations with long and successful traditions behind them – organisations that were so well adapted to the past that they may struggle to cope with the future’.

Explaining the Bank’s current position and results of the year under review, Hennayake said that things are progressing well for the Bank. We are the only Sri Lankan financial institution that has AAA rating. This rating has been re-affirmed by Fitch for seven consecutive years. We also have the largest customer base with over 16 million customer accounts, and the largest footprint in the country with over 4,500 access points. We closed 2009 on another high note, recording a net profit of Rs. 3.7 billion and mobilised a staggering Rs. 53.4 billion in new deposits. It is despite all that is going for us that we want to reinvent ourselves. NSB pioneered savings in Sri Lanka and has been the prime catalyst in promoting the savings habit among Sri Lankans. Today we want to redefine the concept of savings and transform NSB from a traditional savings bank focussed on deposits to Sri Lanka’s most sought-after savings brand offering the most innovative range of investment options’.

The theme of NSB’s annual report further explains the change it is embarking on and sums up thus; ‘Radical change, even when circumstances demand it, calls for courage and clear thinking. Yet the costs of not embracing change are counted not in stasis or even stagnation, but in decay. There is no way we can go but forward. So forward we will go with a will, reinventing and reorienting ourselves to a future rife with challenge and glorious opportunity’.

Hennayake further stated that this year NSB has for the first time adopted the GRI guidelines in reporting on sustainability.

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