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SDB bank’s Issuer Rating Upgraded to [SL]BBB with a Stable Outlook by ICRA Lanka

SDB bank, one of Sri Lanka’s leading financial services providers that has grown from strength to strength in recent years, is proud to announce the upward revision of its issuer rating by premier rating agency, ICRA Lanka. Accordingly, ICRA Lanka has upgraded SDB bank’s issuer rating from [SL]BBB- to [SL]BBB with a Stable Outlook, this year. This upward revision of its issuer rating underscores the exceptionally resilient performance and growth that SDB bank has achieved amidst a challenging economic environment.

Supporting Sri Lanka’s small and medium enterprise (SME) sector, which plays a vital role in the country’s economy and contributes 53 percent to the Gross Domestic Product (GDP), is SDB bank’s core purpose, as well as the empowerment of women entrepreneurs and the realisation of digital inclusion of Sri Lanka’s masses. This objective is encouraged by its big impact investors such as the International Finance Corporation, the Netherlands Development Finance Company (FMO) and Belgium Investment Company for Developing Countries (BIO) who share this common goal. SDB bank is also heavily focused on a mutual partnership approach towards financing SMEs and MSMEs, with a focus on women-owned and run enterprises. The Bank’s extensive contributions towards Sri Lanka’s SME and MSME sectors have been globally recognized, with SDB bank receiving the award for the “Fastest Growing SME Bank in Sri Lanka” at the Global Banking and Finance Awards 2021, conducted by leading UK-based publication, Global Banking and Finance Review.

Today, SDB bank has emerged as a future-ready bank, providing holistic, 360-degree support to its customers. SDB bank is also committed to a sustainable business model in terms of environmental, social and governance sustainability. This commitment is reflected in the Bank’s financing activities by giving preference to businesses and initiatives that take a sustainable approach over those that do not. By supporting Sri Lanka’s SMEs, empowering women entrepreneurs and taking digital banking to the masses, SDB Bank has established itself as a financier that values every customer equally, for their potential and not their worth.