About us

To contribute to the quality of life experienced of our members, customers, employees and the general public through partnerships that fuel the growth of our bank.

 

To be honest in the co-operative finance sector providing better values to its members and contributing to economic development in the island by exploiting opportunities and delivering innovative micro finance solutions with better banking procedures in the sector.

The formation and origin of the co-operative movement was as far back to the year 1906. The first Co-operative society was Dumbara Co-operative credit society. After the inaguration of the first Co-operative society the Co-operative societies ordinance originated. This act made it possible for the registration of only credit societies, therefore certain amendments were made for the establishment of other types of societies as well as secondary and legionary institutions.

The department of Co-operative development was established in 1930 and the movement developed gradually under state sponsorship and it was felt that an organization at the Apex level was in need for the expansion of collective views on matter of Co-operative policy, education, training, extension and publicity. So the Co-operative federation of Ceylon was established in 1955 with the above views.

In 1970, primary consumer and fisheries societies were amalgamated by the appointed Royal commission who look into matters dealing with Co-operative movements in 1968. Therefore economically viable larger units and emerged as multipurpose Co-operative society.

On the 26th of July 1972 the Co-operative federation of Ceylon was re-established as a result of the re-vitalization and reorganization of the federation. National Apex organization is the new institution of the Co-operative movement nationally and internationally.

The present legal enactment is the Co-operative Act No. 5 of 1972. With the 13th amendment to the constitution of our country and the activities of the Co-operative movement was decentralized and the provincial Act No. 42 of 1987 resulted in a devolution of power to provincial councils. Consequently the NCC was also decentralized.

Sanasa Business Development Bank is a public listed bank incorporated in Sri Lanka licensed by the Co-operative Act. No. 5 of 1972 passed by a cabinet approval of the parliament of Sri Lanka. The bank is authorized to accept deposits from the public and also a credited agency under the mortgage Act. and trust receipt ordinance No. 5 of 1972. Sanasa Business Development Bank also functions as a financial leasing establishment n terms of the finance leasing act No. 5 of 1972.

Accordingly the Sanasa Business Development Bank falls within the regulatory regime of the central Bank of Sri Lanka like any other commercial bank.

The best thing we value is truth and justice in what we do and what we share with our valued members.

We are always with the human touch enabling our members to reach their decided targets through co-operative services.

We are always ready to meet challenges with passion and aggressively reach our goals in this sector.

We are always ready to work as a team, supporting each member respecting all citizens and gain strength through diversity.